Paul Krugman Asks “Where’s the Plan for American Economy”

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Stop the presses, hold the news, totally shocking – I found myself agreeing with Paul Krugman this morning!!!  Over the Labor Day weekend, speaking of the current administration’s handling of the economy he said “where is the plan?”  Exactly, where is the plan?  Mind you, of course, Paul Krugman’s plan and my plan would be wildly different but it would be a plan.

I don’t object, on principle to stimulus spending or payroll tax holidays.  I support making the R and D tax credit permanent and an infrastructure bank to fund rebuilding the physical infrastructure of America.  What concerns me, and I believe, most citizens is that stimulus spending and tax policy must be targeted not at the November,2010  election but at a genuine American economic renaissance. 

It is impossible to determine where to make the investments in education, infrastructure, immigration, trade policy, social services or government regulation without a plan, a strategy for rebuilding the 21^st century American economy.

Who to Tax, Why to Tax, When to Tax?

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First,  I have to ask what is magic about the $250K number for a family of four?    Why has the two professional wage earner family, or small business person become the target of envy for every politician in the country?

Second,  tax policy is largely siloed.  This is one area where state and federal government act largely independently while claiming to be integrated.  In California the State Legislature has proposed an across the board income tax increase (just the opposite of what the Governor’s Commission on Taxation recommended) and justified it as reduction in tax payers federal income tax.  Do they think we are that gullible? 

The federal standard deduction will not be adjusted to cover the increase in California or any other state taxes.  Only filers who use the so-called federal “long form” would receive any federal adjustment.  On average, a federal deduction is worth about 20 cents less in federal tax owed for every dollar of deduction claimed.   So, an increase of, for example, $500 in state taxes paid would result in a $100 reduction on federal tax owed.  So, Sacramento —  get serious – an across the board tax increase is exactly that!

$8M Police Chief’s Retirement Package

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You think only CEOs of big companies get these golden parachutes?      $18M for Tony Hayward at BP,  $32M for Mark Hurd at HP? 

Think, again.  The embattled Chief of Police of San Jose, California, Ron Davis, is retiring.  Mr. Davis is barely 50 years old.  If he lives to an average US male age of 78, he will receive $6,000,000 dollars in pension benefits PLUS life time health insurance for himself and his dependents.  – A retirement package is potentially worth $7 to $8 million over his expected lifetime.  Given his age, and his recent candidacy for the Chief’s job in Dallas, Texas, we can expect that he will be able to improve on this number.

The Chief is an example of typical public employee retirement packages. 

Michelle Ma Belle & Her Excellent Spanish Adventure

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Personally I like Michelle Obama.  I like her best when she is just one of us – wearing shorts and a pony tail sightseeing at South Rim of Grand Canyon, or digging in the White House garden, or looking totally chic in clothing that is accessible to middle class Americans.     I remember seeing her recently on TV actually running and skipping over a stretch of white sand beach in Pensacola laughing and having a good time.  She was so natural, so accessible, so just like my girlfriends and me. 

Robert Gibbs is completely correct “Michelle is a private citizen” and can vacation where, went and with whom ever she wants” but when her travel requires a retinue of 70 Secret Service agents, an unknown number of aides, and a presidential plane then it’s the people’s business.

So Long, Farewell, Tony Hayward — Too Bad, For You, You’re Not in the Obama Cabinet!!

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On April 22, 2010, the Gulf of Mexico exploded and telephones rang in Houston, Baton Rouge, London, and Washington.

Tony Hayward, the embattled CEO of the world’s largest oil company since late 2007, was surely aware of the 6 deep water drilling rigs in the Gulf of Mexico but certainly not aware of the specific safety issues reported through the chain of command from the rig up to Houston.    Mr. Hayward had, on April 22, a good reputation as a cost cutter and a safety first executive.

Ken Salazar, the Secretary of Interior, was aware of a need for strategic, process and tactical reform at the Mineral and Mining Administration both from his time in the US Senate from 2004 to 2008 and as Secretary of the Interior since January,2009.    Like Tony Hayward, Secretary Salazar was aware of BP drilling operations in the Gulf of Mexico as well as debarment negotiations between BP and the EPA if not the detailed inspection reports from the Deep Water Horizon rig.

BOTH POLITICIANS AND DIAPERS NEED TO BE CHANGED OFTEN

Here is a change of pace. 

Below you will find, copied in its entirety, an e-mail forwarded by my sister-in-law.  The AUTHOR IS ANONYMOUS, but I agree that if you can read this and not ROFLOL you don’t have a sense of humor.  Feel free to share this with your friends etc….

One day a florist went to a barber for a haircut. After the cut, he asked about his bill, and the barber replied, ‘;I cannot accept money from you , I’m doing community service this week.’; The florist was pleased and left the shop. When the barber went to open his shop the next morning, there was a ’thank you’; card and a dozen roses waiting for him at his door.   Later, a cop comes in for a haircut, and when he tries to pay his bill, the barber again replied, ‘;I cannot accept money from you , I’;m doing community service this week.’;                               The cop was happy and left the shop.  The next morning when the barber went to open up, there was a ‘;thank you’; card and a dozen donuts waiting for him at his door. Then a Congressman came in for a haircut, and when he went to pay his bill, the barber again  replied, ‘;I cannot accept money from you. I’m doing community service this week.’; The Congressman was very happy and left the shop. The next morning, when the barber went to open up, there were a dozen Congressmen lined up waiting for a free haircut. And that, my friends, illustrates the fundamental difference between the citizens of our country  and the politicians who run it. BOTH POLITICIANS AND DIAPERS NEED TO BE CHANGED OFTEN  AND FOR THE SAME REASON! If you don’t forward this you have no sense of humor. Nothing bad will happen, however, you must live with yourself knowing that laughter is not in your future.  . Now send it to everyone you know.

Here Comes the Electric Car – Novelty or Innovation?

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If you are a baby boomer, which do you think will die first you or the internal combustion engine?  Based on my investigative visit to the Plug-In Electric Car Conference being held in San Jose during the last week in July,  I am betting on the engine to outlive us with a significant, if unintended assist, by federal and state government intervention –.

Was the 2008 Financial Collapse A White Male Conspiracy – Really?

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Did you know that the financial meltdown is the result of white male management of all major banks?   

According to Politico.Com, the Financial Regulation Reform Act of 2010 creates 20 new agencies “across the Treasury Department, Federal Reserve, Securities and Exchange Commission “ and 17 others with “broad new powers to compel financial firms to hire more women and minorities.  Twenty new Offices of Minority and Women Inclusion will force every “kind of company from a Wall Street giant to a mom-and-pop law firm” — “to account for the composition of its work force”.    

Will more government enforced “work force diversity” make banking safer?

Is Dr. Donald Berwick: The Right Medicare Administrator???

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Are you one of the 55% of Americans who believe that the 2010 Health Care Reform Act will both reduce the quality of your health care and increase costs?   Regardless of the President’s oft-repeated assurances that “if you like your health care, you can keep your health care”., the recess appointment of Dr. Donald Berwick as the Medicare Administrator WITHOUT a single Senate hearing proves you were right to be skeptical –

• According to Dr. Berwick, “, “the decision is not whether or not we will ration care – the decision is whether we will ration with our eyes open”

November Ballot: Want A New Ballot Option — “None of the Above”?

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Can we just vote “No” in the November mid-term election?   There is no difference between the Democrats and the Republicans – neither has a VISION for America or a PLAN to restore your American Dream.    David Gregory, to his credit, used a Meet the Press panel of Congressional leaders, to try to engage both Democrats and Republicans in a meaningful discussion of how to address the huge issues facing the country.      

Only the fact that I had a basket full of ironing to do kept this so-called debate from being a complete waste of time—!   Talking points are neither a vision nor a plan.    Spinning facts out of context is still lying no matter how often it is repeated.    Saying “no” without offering an alternative may be good politics but it is very bad policy.

Neither Party can articulate a Vision for a Renewed America or the restoration of your American Dream!!!

As we get ready to go to the polls, here are some of the questions to ask and answer before voting.