POWIP Piece of Work In Progress

6Dec/102

zOMG!11!1! Obama compromises with the wingnuts on Booooooooooosh! tax cuts

At least according to Fox news, which is standing by to broadcast an announcent they maintain will be coming from the White House sometime over the next two hours.  Famous econo-gnome Paul Krugman is not amused; which puts a big smile on this knuckle-draggers face.

The deal purportedly extends all the existing tax rates for the next two years, undoubtedly to be demagogued in the 2012 election, as well as a 13 month extension of unemployment benefits.  And, in a new wrinkle, the deal also purportedly contains a reduction in the social security payroll tax; although it's unclear whether it will be a complete social security tax holiday.

So gird your loins, and stand by for the sound of crying, gnashing of teeth, and rending of garments from the nutroots.  Already, over the weekend, there have been several members of the left-leaning punditocracy calling for that drastic act.  If the reporting from Fox is accurate, it'll go from breathless to head exploding in a matter of seconds.

So stay tuned, and, you know, stock up on the popcorn ...

UPDATE: Obama's palavering on about how he decided that all this was necessary, and how he wouldn't countenance the tax cuts for millionaires; whatevz.  This is so much face-saving pablum by the popinjay-in-chief.  Still look for the left-heads to be popping all over.

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6Dec/103

Brett Favre’s IQ

Occasionally, I see those ads on websites stating that [celebrity name] has an IQ of [number>100] and challenging me to find out whether I'm smarter than [celebrity name]. A quick Google search reveals that Brett Favre's IQ is 103 or 104, or perhaps 114 or 124 or even 145. Oddly, it seems not to have dropped since the Jenn Sterger incident.

So far, I haven't sexed any photos of my junk to anyone who didn't solicit one. Maybe Brett's just more secure in his masculinity, but I also eschew Crocs.

Dan Collins

Dan Collins is a dude who blogs. He used to blog elsewhere. Now he blogs here.

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6Dec/108

Death Taxes and Life Insurance

This is a post somewhat against interest. I work in the life insurance industry [as an actuary.... yup, I count dead people.] There may be something you don't know about life insurance benefits in the U.S.: namely, they aren't taxed [federally - not sure about on the state level. I am not a tax expert.]

Doesn't matter how much the amount is. Can be $300K, could be $300MM -- it escapes tax.

Perhaps you may now see why the life insurance industry has an interest in keeping estate taxes alive?

Life insurance is still a very good risk-mitigation tool for individuals out there, but due to the tax laws, it has morphed into a variety of uses, and you'd better believe it is a lucrative business for those of us who help others legitimately avoid taxes.

That said, I don't see why death should be a taxable event. Taxman, you got your chance to whack while the person was alive. It's not your money! Go away!

No, the life insurance industry is not eeeeeeeeeeeeevil just because it hires lobbyists to promote its interest, but I do hope this is one fight they lose. The very rich don't need this method of tax avoidance (there are lots of ways), but it is one of the most affordable methods for someone who has built up wealth in a small business.

I'm tired of the "class warfare" aspects of the death tax, but more to the point, it's a futile argument -- the really and truly rich have all sorts of methods to avoid tax. Ask Teresa Heinz Kerry how much tax she currently pays on her wealth and how much her estate is likely to pay. I assure you, it will be minimal. There is no way for Congress to make a law that would steal away all of Paris Hilton's inheritances. The very rich are mobile in a way that the moderately wealthy are not. Even if the entire world were to hike up the taxes, they'd figure out a way to get off the earth [why do you think Richard Branson has his Virgin Galactic project?]

I have no expectations for this lame duck Congress to take care of the issue - they couldn't figure out how to properly pass an FDA bill, and are just now getting around to dealing with hiking the tax rates when the recovery in the economy is illusory. I assume the Republican House will put something out there nest year, but I definitely have no expectations of the Senate, a body of rich old tax-dodgers if ever there was one. [Also, rich people supposedly being happy with tax hikes on themselves? You are so full of shit. ]

NEWS THAT YOU CAN USE: From the WSJ, some advice on avoiding death taxes.

Meep

Meep is a member of the Irish Catholic mafia, having a suspiciously high number of green-eyed, red-haired friends. While she doesn’t have red hair herself [except when she goes into the sun (rare for any vampire)], she does have green eyes. She’s a raving Papist and is a life actuary on the side [i.e., she counts dead people]. An amateur pain-in-the-ass [willing to go pro!], she likes covering retirement, mortality, math, and education issues.

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4Dec/102

Beefcake Friday Volume VII

(Due to technical difficulties last night......BCF is late, but I killed a couple of gremlins and futzed with some widgets and things are back in working order.)

I went old school this week. It's a little heavy on the McQueen....but The Great Escape and Bullitt are two of my very favorite movies ever. So anyway, here ya go. :)

Enjoy.

Dede

Sometimes stuff rumbles around in my brain that's longer than 140 characters and, well......twitlonger just seems like cheating. :)

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3Dec/101

One Finger Salute

This is the kind of photo that deserves dissemination; if for no other reason than posterity.  For the actual story, you'll have to go here.  Suffice it to say I was disappointed to find out it wasn't the result of an intrepid young hacker, but bad weather.  I have  a feeling this photo will remain a staple of blogs everywhere.  There is, at least, a bit of catharsis available by simply posting this photo.  Try it.

Adam Wells

Living life at 84 mph and 7000 feet. All I ask is that you don't block traffic, act like a professional, and don't act all surprised when your actions have consequences. Oh, and don't complain about the refs; trust me, they don't care if your team wins or not.

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3Dec/101

Potential Chicago Mayors…. Run Away!

The Chicago pensions situation is going to get ugly, and fast.

First, from John Bury, some number-crunching on city pension plans. He explains his number-crunching therein, but looking at his spreadsheet - the Chicago pensions are not too hot. He does mention the over-100%-fundedness may be illusory here as his number-crunching doesn't allow for differential assumptions [firemen and police tend to have much lower retirement ages, but not really higher mortality in retirement]. Even so, the Chicago Firemen and Policemen's funds look awful.

So what's the word from the Illinois statehouse? A shiny present for the next mayor of Chicago:

After decades of making retirement promises they weren't fully paying for, Chicago and many suburbs could be forced to set aside more money under sweeping changes to police and firefighter pensions headed to Gov. Pat Quinn's desk.

The legislation, approved Thursday on a 46-4 Senate vote, prompted an immediate rebuke from Chicago leaders who said it was draconian and would force financial pain on city taxpayers.

"This goes to the economic vitality of the city of Chicago and the county of Cook, the economic engine of the state," Mayor Richard Daley said.
....
Few sides were left completely satisfied. Reform advocates said it doesn't go far enough. Police and fire unions took a hit with benefits cuts for new hires.

Chicago was the most vocal opponent, unleashing an unsuccessful full-scale lobbying blitz to kill the bill because it said it would require a major property tax increase.

Supporters countered that the bill merely forces the city to start paying for its promises.
.....
Chicago leaders also complained of a key provision that changes how the city calculates the amount it sets aside for pensions starting in 2015, from multipliers of payrolls to more commonly accepted actuarial methods.

The change may seem mundane, but a recent Tribune investigation found the current formula allowed the city to claim it adequately set aside enough money for pensions at the same time it cut deals to boost benefits that helped spike the debt. The city police and fire funds now have less than 40 percent of the money needed to cover the eventual pension benefits already earned by past and current workers.

"This is the first time that anybody has acknowledged that the multiplier used to fund Chicago's pensions doesn't meet its obligations," said Mike Shields, a trustee for the police officers' pension. "They've been lying to themselves for the past 20 or 30 years."

Remember how I keep saying Daley is running away because of the money situation, and that Rahm had better hope he's thrown out on a technicality?

The above is part of that. Illinois is unable to bail out Chicago [being broke itself], and for Chicago to be bailed out by the Feds requires the cooperation of the House Republicans. I don't see that happening.

MORE: Why is Daley making warnings now? When it's way too late?

My theory: he doesn't want to move. If it gets too ugly, he will have to leave Illinois at the least, the country at the worst. I'd be buying some land in Costra Rica if I were you, Daley.

EVEN MORE: From John Bury -- Chicago Police and Fire Pensions Still Dying

Meep

Meep is a member of the Irish Catholic mafia, having a suspiciously high number of green-eyed, red-haired friends. While she doesn’t have red hair herself [except when she goes into the sun (rare for any vampire)], she does have green eyes. She’s a raving Papist and is a life actuary on the side [i.e., she counts dead people]. An amateur pain-in-the-ass [willing to go pro!], she likes covering retirement, mortality, math, and education issues.

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2Dec/103

Officer Down

Every time a law enforcement officer pulls over a vehicle, he takes a risk.  Yesterday, a 23 year old Highway Patrol Officer from Montana was fatally shot by a man he had pulled over on rural road near Three Forks, MT.   The manhunt was finally ended when the asshole was found dead in his truck 35 miles from where he killed Trooper DeLaittre, but the life he took first is one that should be remembered.  Barely two years on the Patrol, let me repeat; he was only 23 years old. 

It was a senseless act of savage violence.

RIP, David DeLaittre

Adam Wells

Living life at 84 mph and 7000 feet. All I ask is that you don't block traffic, act like a professional, and don't act all surprised when your actions have consequences. Oh, and don't complain about the refs; trust me, they don't care if your team wins or not.

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2Dec/101

Time for a fresh start on, er, START?

I've written before, on several occasions and at some length, here at POWIP about my objections to the START treaty which the Senate may be voting on here.  While my preening ego would prefer you read the preceding link, I'll sum up my objections as succinctly as possible:

1)  I believe it spares the Russians the expense of maintaining/modernizing their strategic arsenal at a time where they would be faced with the hard choice of doing so, or spending the much needed money elsewhere; a problem we don't face since our arsenal, while perhaps a bit dated, is nowhere near as ineffective and dilapidated as the Russian's currently is.

2)  I object strongly to the language in the treaty document's preamble that, while not explicit, at least implicitly freezes our missile defense systems at their current levels.  This is an area where we have an enormous edge over the rest of the nations on earth, and rightly so, since we have spent so much money and effort to develop it to it's current operational level as well as prepare the groundwork for the next quantum leap in the technology; capabilities hinted at by the successful tests of the ABL (Airborne Laser system).  These systems will be important components of our nation's defenses for many decades to come, protecting us from nations other than Russia, as well as against rogue regimes and operators, and should not be traded; especially for limitations that are not necessarily in our best interests.

3)  While an agreement with the Russians may indeed go a long way towards "resetting" the relationship between our nations, we have yet to see any real concrete signs of increased cooperation from the administration's decision last year to cancel the deployment of the scheduled ballistic missile defense battery in eastern Europe.  Aside from unenthusiastic support at the UN for weak sanctions on Iran, which by the way are in Russia's interest anyway since they, you know, are in their immediate proximity, or any sign that they will provide any kind of strategic balance against the ever burgeoning Chinese military; the latter in and of itself being one of those delicious ironies of history since we used our friendship with the Chinese after 1972 during the cold war as leverage against the Soviets!

4)  I think that the Treaty in its current form surrenders the strategic initiative to our adversaries which is something a commander should never do; just ask Sun Tzu.

As I've said many times before, I think that through the START treaty, Obama is merely seeing through some of the hookah induced, hippy-chick orgy attending, dreams from his NO-NUKES! days.  Interestingly, so it seems does George Will:

The Framers of the Constitution, a nuisance regretted by most modern presidents, gave the legislative branch - another indignity inflicted on presidents, as they see it - an important role in making foreign policy. The Framers did so by, among other provisions, requiring the consent of two-thirds of the Senate (today, 67 votes) to treaties. The Framers' wisdom is confirmed by Barack Obama's impatience with senators reluctant to ratify, during Congress's lame-duck session, the New START treaty pertaining to Russia's nuclear weapons.

The impertinence of mere senators modifying their handiwork will scandalize the Cold War arms control clerisy, who are still with us. These custodians of humanity's salvation, these speakers of an argot (SLBMs, ICBMs, MIRVs, etc.) more arcane to the laity than Latin was to 14th-century peasants, are marvelously unimpressed by the events of 1991. If, when the Soviet Union disappeared, Russia had disintegrated until only the Moscow metropolitan area remained, the clerisy would be earnestly negotiating arms agreements with that city's police force.

America's domestic policy is bedeviled by reactionary liberalism, whose adherents resist any diminution of any entitlement. Barack Obama's tumble into a time warp - his overinvestment in an arms agreement with the emaciated Russian bear - proves that reactionary liberalism does not end at the water's edge.

Why, the cheek of these scoundrels, refusing to rubberstamp the President's foreign agreements; why the Democrats gave Boooooooooooosh! everything he wanted, such as the Korean and Colombian trade agreements-not...Those eeeeevolll, obstructionist, unpatriotic RETHUGS! are proving that they are the RAAAAAAAACIST! H8TERZ that, er, the MFM has sought to portray them as; just as Eugene Robinson...

Notwithstanding the rending of garments and gnashing of teeth on the port side of the political spectrum and the exhortations of some GOP foreign policy luminaries, and my aforementioned reservations, Ed Meese and Richard Perle write about one that I hadn't even considered in today's Wall Street Journal:

The administration is asking a lame-duck Senate, dominated by a party that was rebuked at the polls by the electorate, to vote for this major arms-control treaty, in contravention of the settled traditions of our country—a tactic Reagan surely would have deplored.

Never in U.S. history has a lame-duck Congress voted on a strategic nuclear arms-control treaty with the Soviet Union or Russia. That is why a group of 10 newly elected Republican senators sent a joint letter to Senate Majority Leader Harry Reid demanding that they be allowed to perform their constitutionally mandated task of advice and consent on this treaty.

Well, so much for the "Reagan would have approved of it" argument.  Which, while respecting the opinions of Messers. Baker III, Kissinger, and Powell, I think has been a bit of a reach from the start.  Ronnie played hardball with the Soviets when negotiating arms control treaties.  Recall all of the shrieking when he started the whole missile defense ball rolling with his much hated, by America's enemies abroad and here at home, "Star Wars" program (the Strategic Defense Initiative).

In my humble opinion, the vote on the START treaty should be postponed until the new Senate convenes.  And not merely to deny Mr. Obama a foreign policy victory, because like most who've been in harms way, indeed like most patriotic Americans, politics ends at the water's edge; unlike the giant paper-mache head sporting Lafayette Square protest marchers, or those who continue to insist "BUSH LIED, PEOPLE DIED" (in the face of recent contradictory evidence) and, perhaps most shameful, sitting legislators, including the current President and Vice-President, publicly proclaiming"THE WAR IS LOST!", or "THE SURGE ISN'T WORKING!".  No, once it's "feet wet", there are no more Republicans and Democrats, only Americans...

This treaty needs to be held over, for consideration and ratification by the new Senate; one that is accountable to the voters and not populated, in part at least, by unaccountable "lame ducks".  And I would urge those new Senators to carefully weigh the language of the treaty, but also to ensure that in the good-faith effort to limit the offensive strategic weaponry of the U.S. and Russia they don't suffer us the unintended consequence of retard, hamstring, or otherwise limit our ability to defend ourselves from attacks by other strategic adversaries.  I'm sorry, but at this point, two years into the Obama Presidency, it's become painstakingly clear that all of his promises come with expiration dates that are never known when said promise is palavered.

Need an example?  Well just consider his recent reversal on oil drilling offshore.

So I say, take your time, get it right, in substance as well as language.  It will still be his foreign policy accomplish no matter when it is actually ratified.  What do you think kind reader?

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2Dec/104

Star Whackers Beware!

For those who find themselves distraught over the information Dan is getting from his sources, I offer hope.  Chuck Norris is about to be a Texas Ranger. I know Ricky Bobby isn't the only one proud of this historic moment in US history. 

After all, if Chuck Norris can't deal with the problem.... Wait, that's not even an option, really.

Adam Wells

Living life at 84 mph and 7000 feet. All I ask is that you don't block traffic, act like a professional, and don't act all surprised when your actions have consequences. Oh, and don't complain about the refs; trust me, they don't care if your team wins or not.

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2Dec/103

More Chilling Evidence Regarding Hollywood Star Whackers [Now With "The Ballad of Randy Quaid (Star Whackers Theme)" after the jump]

Left in comments to an earlier post about what Randy and Evi Quaid have alleged, from Lorraine Christina Lattimore:

I believe Randy and his wife because it happened to me and yes they do get your family involved to do the dirty work I grew up around hollywood stars who often told me I was very special it turns out my great-great grandfather was govenor of california in 1833 and died while in office in 1835 and come from very special bloodline! Jesus! Illuminated. they have targeted me too. Poisoned, faulsly & brutally arrested and incarserated, vehicular attempts on my life with false police reports, the list goes on and its all documented. SOoooooo. a well used ad slogan today, along with “who knew?” I did! And do! know for a fact that the starwackers exsist I was told by a molicular biologist. “you don,t get it do you? you are being set up to wind up dead, crazy or in jail that is how they work” end of quote verbatum. I would love to hear from anyone else who has experienced this.

I'm liable to be quite busy with a project for the next few days, so I'm just popping my head up, because this is important.

Earlier today I read this piece on Randy and Evi and the Star Whackers from Vanity Fair. There are a lot of people who just won't go on record about what they know, and I'm sure that the scoffers are going to say that that's because Evi is batshit crazy and they don't want to be caught up in her disturbing web of paranoid whackdoodle, but what if it's because they're afraid to become targets of the Star Whackers themselves, by speaking out?

And then it turns out that my sources have been a little unreliable about the Quaids: their proposed series is not called Star Wackers, at all, but Star Trackers:

What you find out when you call some of the 17-plus people named in Randy Quaid’s lawsuit is that they are fearful of and for the Quaids. They are angry and they are upset. Several of them told me of having seen a pitch for a reality show that Randy and Evi had sent to a production company. Called Star Trackers, the show has Evi and Randy playing a Bonnie-and-Clyde-like couple that hunts down the Hollywood Star Whackers. The first sentence envisions the couple shooting off the head of one of the people named in the lawsuit. This person said he briefly hired security.

“Some of the people they were suing,” said Lloyd Braun, Randy’s former lawyer, now the head of the production company BermanBraun, “are some of the nicest, most reputable people in Los Angeles, incredibly honorable people who cared about Randy.”

I'm not blaming my sources, though, because I believe that Star Whackers may be trying to drive a wedge between them and me.

Below are the lyrics to "The Ballad of Randy Quaid (Star Whackers Theme)".

Dan Collins

Dan Collins is a dude who blogs. He used to blog elsewhere. Now he blogs here.

Website - More Posts

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