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by afew Mon Dec 31st, 2012 at 11:17:11 AM EST
"Life shrinks or expands in proportion to one's courage." - Anaïs Nin
(Reuters) - Taxes were on track to rise for many Americans this week unless lawmakers could cut a last-minute deal on Monday to avoid the "fiscal cliff," an outcome that seemed unlikely, but still possible. Financial markets were on edge only hours before the midnight arrival at the long-awaited "cliff," an assortment of $600 billion in tax hikes and broad federal spending cuts on defense and domestic programs that has defied a political solution.
(Reuters) - Taxes were on track to rise for many Americans this week unless lawmakers could cut a last-minute deal on Monday to avoid the "fiscal cliff," an outcome that seemed unlikely, but still possible.
Financial markets were on edge only hours before the midnight arrival at the long-awaited "cliff," an assortment of $600 billion in tax hikes and broad federal spending cuts on defense and domestic programs that has defied a political solution.
Is this the real End Of The World As We Know It? Was the 21st just a dress rehearsal? Will the fiscal cliff stop you partying?
Bonne Année! Wind power
Importantly, the dividend tax deal will disproportionately help the richest Americans: 47% of all dividend income is earned by the 3.8% of American households that make more than $200,000 per year (2009 tax data) Households that make more than $200,000 collect a total of $70 billion of qualified dividends per year (2009). This tax change will save these households about $14 billion a year vs. the pre-deal tax rates. The top 400 highest earning taxpayers collect about $10 billion a year in dividends, or $25 million apiece. This tax change will save these folks a BOATLOAD of money: About $2 billion in total, or an average of about $5 million apiece (2009 data) In other words, the tax deal that Congress just agreed to will raise $125 billion from increased payroll taxes from all working Americans (poor and middle class alike), while saving the richest Americans at least $20 billion in dividend taxes.
47% of all dividend income is earned by the 3.8% of American households that make more than $200,000 per year (2009 tax data) Households that make more than $200,000 collect a total of $70 billion of qualified dividends per year (2009). This tax change will save these households about $14 billion a year vs. the pre-deal tax rates. The top 400 highest earning taxpayers collect about $10 billion a year in dividends, or $25 million apiece. This tax change will save these folks a BOATLOAD of money: About $2 billion in total, or an average of about $5 million apiece (2009 data)
In other words, the tax deal that Congress just agreed to will raise $125 billion from increased payroll taxes from all working Americans (poor and middle class alike), while saving the richest Americans at least $20 billion in dividend taxes.
The 113th Congress will meet January 3 and we'll start the clown show anew. Ever since I learnt about confirmation bias I've started seeing it everywhere
So the House Republicans has a House Republican Leader in addition to the Speaker of the House that is functioning as a majority leader and blocs minority proposals from ever going to a vote?
This is a bit confusing for me, used to Speakers being non-partisan. So what is the relationship between Cantor and Boehner, does one take orders form the other? Does the Speaker of the House have to step down if they can't deliver a majority on important votes? A vote for PES is a vote for EPP! A vote for EPP is a vote for PES! Support the coalition, vote EPP-PES in 2009!
The Speaker of the House is a constitutionally mandated position and is the presiding officer of the House of Representative. The Speaker is selected by a vote of all sitting Representatives.
Over the last couple of years Cantor has taken much of the effective political power away from the Speaker, mostly because Boehner is an incompetent, a joke, and a drunk. The Speaker does not have to step down due to ineffectiveness. Ever since I learnt about confirmation bias I've started seeing it everywhere
Traditionally, the Speaker is a more powerful position above majority leader. Given the much-praised discipline of the Republican party, it has been pretty much unthinkable, at least in my lifetime, that a majority leader and caucus would go against the speaker.
What we're witnessing here is unprecedented in modern times - civil war within the party.
Assuming the R caucus is hell bent on overthrowing Boehner and nominating Cantor, it'll be interesting to see if the house as a whole will vote him in or if the schizm will show ruptures throughout the house with the vote split. I guess these are indeed 'interesting times...' Maybe we can eventually make language a complete impediment to understanding. -Hobbes
So... it could be that Cantor has already secured his party's nomination and we're just seeing the evidence now?
I honestly don't know exactly how to interpret what I'm seeing. DK is reporting that Boehner is going to vote on amending the bill (effectively killing it) and, if the amendment doesn't pass, bring it to a floor vote. So maybe THEY don't even know how this power play is going to shake out.
It'll be interesting to see how Thursday goes. Maybe we can eventually make language a complete impediment to understanding. -Hobbes
Given what's been happening over the last couple of months I wouldn't lay money that's what is going to happen this time 'round. Ever since I learnt about confirmation bias I've started seeing it everywhere
I seriously doubt that either of the Koch brothers would want their granddaughters, if any, bound by American Taliban views of the role of women in society.
The Koch brothers have fuck-you money. They never have to worry that their granddaughters will be subjected to the same rules as the rest of us. Maybe we can eventually make language a complete impediment to understanding. -Hobbes
So it's looking like it's up for a clean vote. The bill-killing amendmenteers didn't have the votes I guess. So I'm not sure what this means for the Boehner/Cantor power struggle. I do know that if I don't find the will to turn of c-span soon, I may suffer permanent damage... Maybe we can eventually make language a complete impediment to understanding. -Hobbes
Did you see Mean Jean's last speech?
Did your brain explode? Ever since I learnt about confirmation bias I've started seeing it everywhere
(note to people: turn off the MSM)
Cantor takes one in the eye. 85 GOP Representatives voted for passage, bucking his "leadership."
The Speaker election is REALLY getting interesting. Ever since I learnt about confirmation bias I've started seeing it everywhere
Can 2013 be worse than 2012?
Yes.
(This has been another edition of Simple Answers to Simple Questions.) Be nice to America. Or we'll bring democracy to your country.
(Dies ist eine weitere Ausgabe von Simple Antworten auf einfache Fragen.) -- Goggle Transfate version "Life shrinks or expands in proportion to one's courage." - Anaïs Nin
Instead I got three grand snowstorms, one right after another, and had to spend half a day digging our truck out of two and a half feet of very wet snow.
With a bucket. Because, hey, it's DC -- it never snows more than a couple inches, so why buy a shovel?
That was just about enough. Be nice to America. Or we'll bring democracy to your country.
The worst is 2 cm of snow then melting, or the mush you get when temperatures yoyo around zero (32°F for your merkans) Wind power
i just watched an interview with the 'water assessor', some citizens, (none too thrilled), and the environment reporter for rai.
citizen A to water assessor: "i would like a rebate for the water bill this year, since it has been turned off twice, once for 20 days, once for 60."
reporter: "but if you didn't use any water you won't have to pay, right?"
citizen A: " no, the counter rotates when i open the tap, even with no water coming out"
water assessor nods ruefully...
citizens advised to avoid bathing if prone to dermatological problems. they queue to fill 20l. containers from a water truck in the town square. a member of Lega Ambiente comments that it is the side effect of so much construction on the area.
VV italia! no wonder that confused fatalism is the resultant philosophy so common here. It's a fine line between homage, parody, and consumer opportunism. Jess Walter
what if it is the result of 'cementification' as beppe grillo calls it?
you are right. that's what all the palaver was sposed to be about! It's a fine line between homage, parody, and consumer opportunism. Jess Walter
Believe me when i say this generation of warriors, with the renewed presence of the women who finally remember they always controlled the behind the scenes, will find a way to merge all the different movements now struggling for a voice in the western world. When friends of mine first travelled on Haudenausounne (Rotinosonee in Mohawk) passports to Europe without problems, me knew it would grow.
It's simple, really.
We all depend on drinking water. Not to mention healthy food. All politics stems from that need. If we feel threatened, if we ARE threatened, you can bet my cousins are already on the case.
If you are on Facecrack, you can ask to be friends with Norman Patrick Brown, Dine, Navajo as other civilizations name his tribe. He knows what it is to fire enough rounds at the FBI 'til his hands burned on the rifle.
He is now a leading filmmaker, his weapon... storytelling. His brother, Goethe.
Canary insels calling must go now. "Life shrinks or expands in proportion to one's courage." - Anaïs Nin
Already done. Geh weiter. "Life shrinks or expands in proportion to one's courage." - Anaïs Nin
I'm going to contact my Yakama friends this week to get their reaction. I'll let you know. paul spencer
Ever since I learnt about confirmation bias I've started seeing it everywhere
Another new feature - and a very useful one for animators - is the laying of an audio wave form in a vertical time line making it easier to match up action with sound - including lip-synch.
I've toyed with buying this, it would be fun to have a little tabletop production going on. You can't be me, I'm taken
But then I'm never happier than programming for 10 hours a day. An activity most people find tedious, dull, and boring. Ever since I learnt about confirmation bias I've started seeing it everywhere
I hope everyone can be as happy as we are throughout the new year. Whatever comes, we'll deal with it or go down with it together. 'tis strange I should be old and neither wise nor valiant. From "The Maid's Tragedy" by Beaumont & Fletcher
And indeed to everyone on ET. Especially to Katrin, WoB and Heinz for putting up with me on my mad dash around Germany this year keep to the Fen Causeway
Yer gotta larf, ain't yer? You can't be me, I'm taken
May the troll force be with me. Be nice to America. Or we'll bring democracy to your country.
By not addressing the payroll tax, the Fiscal Cliff deal will also result in a tax hike for all working Americans, including those in the middle and poor classes. All income up to $110,000 will now be socked with a 2 point increase in the payroll tax, from 4.2% to 6.2%, which will pluck $2,000 out of the pockets of families making $100,000 a year. Meanwhile, thanks to a deal on dividend taxes, the highest earning Americans have gotten a massive tax cut over the taxes that would have taken effect had a Fiscal Cliff deal not been agreed to. Dividend taxes for households making more than $450,000 per year will rise from 15% to 20% (plus an additional 3.8% surcharge for Obamacare, to a total of 23.8%). But they won't rise all the way to 39.6%, which they were scheduled to without a Fiscal Cliff deal. Meanwhile, dividend taxes for those earning less than $450,000 a year will remain at 15% (18.8% with the surcharge, for those income between $250,000 and $450,000). So the richest Americans have dodged a big tax bullet.
Meanwhile, thanks to a deal on dividend taxes, the highest earning Americans have gotten a massive tax cut over the taxes that would have taken effect had a Fiscal Cliff deal not been agreed to.
Dividend taxes for households making more than $450,000 per year will rise from 15% to 20% (plus an additional 3.8% surcharge for Obamacare, to a total of 23.8%). But they won't rise all the way to 39.6%, which they were scheduled to without a Fiscal Cliff deal. Meanwhile, dividend taxes for those earning less than $450,000 a year will remain at 15% (18.8% with the surcharge, for those income between $250,000 and $450,000). So the richest Americans have dodged a big tax bullet.
Well, the CBO estimates cumulative potential GDP over the next decade at $208 trillion.So the difference between what Obama got and what he arguably should have gotten is around 0.1 percent of potential GDP. That's not crucial, to say the least. And on the principle of the thing, you could say that Democrats held their ground on the essentials -- no cuts in benefits -- while Republicans have just voted for a tax increase for the first time in decades.
And on the principle of the thing, you could say that Democrats held their ground on the essentials -- no cuts in benefits -- while Republicans have just voted for a tax increase for the first time in decades.
I find the modern obsession with the "middle class" to be a cynical product of electoral politics, the poor do not vote, so their needs are not addressed. But worse is the concern with people who earn $250 - 400K. It is the naked self-interest of the DC media chatterati on display. they may self identify as the middle class, but theirs are by no means majority concerns and should not be catered for as part of such a crucial deal keep to the Fen Causeway
I miss you guys!
Canadian Inuit Gangnam Style
let the good times roll! It's a fine line between homage, parody, and consumer opportunism. Jess Walter
a salmon run to the motherboard. It's a fine line between homage, parody, and consumer opportunism. Jess Walter
Phoebe Rudomino whose stunning underwater photograph, featured in our photography exhibition, was our most popular post of 2012. http://www.saatchi-gallery.co.uk/artists/photography/ It's a fine line between homage, parody, and consumer opportunism. Jess Walter
Monday Dec. 31
Required listening ... wait till next year at this time. http://www.youtube.com/watch?v=_wp4O7v5320
ET has brought much goodness to my life, fascinating snippets that provoke deeper exploration, witnessing exchanges that broaden perspective, learning from those generous enough to share what they know, a collage of international life-experiences, a culture mash, a haven of good-hearted people with a passion to communicate...
best of all the laughter, this blog has made me guffaw, chuckle, giggle, snort and bellow more than any, and i bless the day i arrived here, following the rotor-beats of jerome's turbines over from the orangerie.
you all make me think, further and further each day, and it never seems to falter, let alone end.
so in that spirit of gratitude, i give you this:
Why Being Generally Grateful is a Bad Idea | PickTheBrain | Motivation and Self Improvement
I have been keeping my own gratitude journal for the last three months and I can say categorically without doubt that I do feel happier because of it. I wouldn't go as far as to say that it has turned me into an ever smiling optimist. To be more accurate, I would say that rather than worrying if my glass is half empty or half full, I'm now just grateful to have a glass in the first place.
may you/we all have the best ever year of our lives, and spill some of it onto these pages, to keep the fun flowing, even as we walk through the 'valley of the shadow of death' together.
if 'brains trust' means anything, it must be this feeling that i can trust my brain gets its daily workout at ET, and if there is a way to see amusement in today's mixed scenarios, some of you wags will have found it!!!
off to fix the fence where the donkey gets out now... It's a fine line between homage, parody, and consumer opportunism. Jess Walter
This machine allows anyone to work for minimum wage for as long as they like. Turning the crank on the side releases one penny every 4.97 seconds, for a total of $7.25 per hour. This corresponds to minimum wage for a person in New York. This piece is brilliant on multiple levels, particularly as social commentary. Without a doubt, most people who started operating the machine for fun would quickly grow disheartened and stop when realizing just how little they're earning by turning this mindless crank. A person would then conceivably realize that this is what nearly two million people in the United States do every day...at much harder jobs than turning a crank. This turns the piece into a simple, yet effective argument for raising the minimum wage.
This machine allows anyone to work for minimum wage for as long as they like. Turning the crank on the side releases one penny every 4.97 seconds, for a total of $7.25 per hour. This corresponds to minimum wage for a person in New York.
This piece is brilliant on multiple levels, particularly as social commentary. Without a doubt, most people who started operating the machine for fun would quickly grow disheartened and stop when realizing just how little they're earning by turning this mindless crank. A person would then conceivably realize that this is what nearly two million people in the United States do every day...at much harder jobs than turning a crank. This turns the piece into a simple, yet effective argument for raising the minimum wage.
The wealth gap may not be growing, but wealth continues to be redistributed upwards - Comment - Voices - The Independent
The big divide in the UK is less between the top, the middle and the bottom than between a small group of the super-rich and nearly everyone else. Rentoul's answer to the way the over-sized rich has been accumulating larger and larger fortunes and securing a bigger chunk of the economic pie is to dismiss them as `untypical'. This may be true in a literal sense, but viewing them in this way is a grave error. The behaviour of the super-rich has a greatly leveraged effect on the rest of us. Most of the rich's income surge has come not from the building of a more robust economy triggered by an entrepreneurial leap forward but the very opposite - a clever process of wealth and income transfer from the bulk of the working population.This sustained process of upward redistribution is not just a matter of social justice. By stifling demand for productive output while fuelling the asset bubbles that took us over the cliff in 2008, it has made the economy weaker and less resilient.
The big divide in the UK is less between the top, the middle and the bottom than between a small group of the super-rich and nearly everyone else. Rentoul's answer to the way the over-sized rich has been accumulating larger and larger fortunes and securing a bigger chunk of the economic pie is to dismiss them as `untypical'. This may be true in a literal sense, but viewing them in this way is a grave error. The behaviour of the super-rich has a greatly leveraged effect on the rest of us. Most of the rich's income surge has come not from the building of a more robust economy triggered by an entrepreneurial leap forward but the very opposite - a clever process of wealth and income transfer from the bulk of the working population.
This sustained process of upward redistribution is not just a matter of social justice. By stifling demand for productive output while fuelling the asset bubbles that took us over the cliff in 2008, it has made the economy weaker and less resilient.
That Gloria de Piero was not going to have an easy time at the Tuesday lunchtime aerobics class in Billericay, Essex, was obvious before it had even begun. It had taken several phone calls and rejections before she even found a class that would let an MP come along. When she got there at the end of the jazzercise session, most of the women were on their way out, leaving De Piero sitting in Emmanuel church hall with just five women and one man who had agreed to help her find an answer to her query: "Why do you hate me?" They were the first of six groups of people De Piero met on a national quest to find out why people seem to dislike politicians so much.
When she got there at the end of the jazzercise session, most of the women were on their way out, leaving De Piero sitting in Emmanuel church hall with just five women and one man who had agreed to help her find an answer to her query: "Why do you hate me?"
They were the first of six groups of people De Piero met on a national quest to find out why people seem to dislike politicians so much.
I have to say I think it was a worthwhile endeavour, most MPs have lived in a little Truman show bubble of privilege from an early age.
However, although I think the answers the article mentions are part of it, I think the biggest problem is that there are no alternatives on offer anymore. As the article says, people are not apathetic about politics, it's just that the Westminster show is increasingly irrelevant to people's lives. None of the parties offer anything other than submission to the Corporate requirement.We might vote for the pols, but the laws they pass are for corporate convenience, not ours. keep to the Fen Causeway
Yahoo - Sunderland pay David Miliband £125k for 15 days work
Labour politician David Miliband has been paid £125,000 for 15 days of work at Premier League club Sunderland. The former foreign secretary was named non-executive vice chairman of the club in 2011 but has only actually clocked in just over a fortnight's worth of work. Looking at his salary pro-rata - that would be the same as £42,000-a-week or £2.1million a year, putting him on a higher wage than many players at the club; for example, French international striker Louis Saha earns £40,000-a-week. The South Shields Labour MP, who is an Arsenal fan....
The former foreign secretary was named non-executive vice chairman of the club in 2011 but has only actually clocked in just over a fortnight's worth of work.
Looking at his salary pro-rata - that would be the same as £42,000-a-week or £2.1million a year, putting him on a higher wage than many players at the club; for example, French international striker Louis Saha earns £40,000-a-week.
The South Shields Labour MP, who is an Arsenal fan....
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