Thursday, May 22, 2003

PhotoDude ... keeps up with it all!

Voodoo Deja Vu - “America's Richest Assail Bush Tax Cut”: “You would think two of the wealthiest Americans would have no problem with a tax cut that would put thousands, if not millions, of dollars in their pockets. But billionaire investors Warren Buffett and George Soros, Nos. 2 and 24 on Forbes Magazine's list of the 400 richest Americans, both railed on Tuesday against President Bush's plan to deepen income tax cuts and eliminate taxes on corporate dividends.” Mr. Soros, worth over $6 Billion, “said they would not revive the U.S. economy in the short-term but were only aimed at helping the rich get richer. 'This move is designed not to have much impact now. It's designed to have an impact over an extended period and it's basically using the recession to redistribute income to the wealthy.'” ... And I think we should heed the words of Warren Buffet, who has written an excellent editorial in the Washington Post entitled “Dividend Voodoo.” ... He explains that right now, all things considered, he and his receptionist pay about the same amount of their grossly different incomes to the government ... about 30 percent. He then explains what would happen to that relative parity under the new tax cuts: “Owning 31 percent of Berkshire, I would receive $310 million in additional income, owe not another dime in federal tax, and see my tax rate plunge to 3 percent.” “Let me repeat the point: Her overall federal tax rate would be 10 times what my rate would be. When I was young, President Kennedy asked Americans to 'pay any price, bear any burden' for our country. Against that challenge, the 3 percent overall federal tax rate I would pay -- if a Berkshire dividend were to be tax-free -- seems a bit light.” ... “When you listen to tax-cut rhetoric, remember that giving one class of taxpayer a 'break' requires -- now or down the line -- that an equivalent burden be imposed on other parties. In other words, if I get a break, someone else pays. Government can't deliver a free lunch to the country as a whole. It can, however, determine who pays for lunch. And last week the Senate handed the bill to the wrong party.”

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Norwegian Would? - Al Qaeda sent out the second string to make an announcement: “Attack the missions of the United States, the U.K., Australia and Norway and their interests, companies and employees.” Norway? Is that a typo or mistranslation? Did they mean P-O-L-A-N-D?

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Mercy, Mother - Ma Nature is washin' down our world: “Eight inches in 18 days. More on the way. By the end of the week, metro Atlanta may well break the record for the wettest May in history, passing May 1923, when 9.89 inches fell.”

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Have a Reasonably Spooky Weekend - As we approach another holiday weekend, we get yet another bumped up threat level report: “Senior U.S. officials said the chatter suggests a major attack inside the United States may be in the works. The intelligence is 'reasonably spooky stuff,' one U.S. official said.”

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Beat Bush: But don't lose your sanity: PhotoDude comments, "It is apparently very easy to let your personal loathing for a person get the best of your rational judgment, and overwhelm every context that person touches. Everything they want to do is wrong, evil, and must be opposed simply because they want it. It causes policy fights and errors of judgement, not based on facts, but on pure overflowing emotion. We saw it with Clinton. And now we're seeing it with Bush. Is this the only way Americans can engage in politics now? It was embarrassing in the 90's, and it's embarrassing now."
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