STORY #1: We are the Bosaneks
For those who are unaware, Debbie Bosanek is Warren Buffett’s secretary, and she is the new avatar of tax unfairness as President Obama enters campaign mode. Ridiculous as the tax code is, I can’t say I feel sorry for her; she’s working with a guy who probably treats her very well, and you’d have to be making bank to work that closely with him, however much of it you end up losing. So the question is, why does she pay taxes at a higher rate than him, and does Obama understand why?
Because Buffett makes his money through a variety of investments, he has access to plenty of tax breaks that Bosanek does not. Therefore, when his tax burden is calculated at the end of the year, he pays a lower percentage than she does, even though he should be paying 35 percent. Republicans are quick to assume that Obama’s call for a 30 percent tax rate for millionaires means he wants to raise marginal rates. If he was really referring to closing loopholes, he certainly wasn’t clear about it.
STORY #2: No child’s behind left
The same sort of rush to judgment was at work when Sen. Mike “Exclamation Point” Lee (R-UT) started shrieking (according to the article) about Obama’s call for all states to prevent students from dropping out before the age of 18. Even Rep. Darrell Issa (R-CA), one of Obama’s biggest irritants, took it as an encouragement instead of a federal mandate. Apparently the federal government can’t even comment on state affairs without some fools assuming an intrusion.
While I personally believe curricular reform, also a state and district priority, is a better way to retain potential dropouts, I would support an age-based restriction. The more time they spend in school, the less time they spend knocking over liquor stores, shooting up in alleys, getting preggers and making “art” that nobody wants to look at. And that’s much more of a drain on the system than a lazy-ass student.
STORY #3: They agree on something!
Despite the distinctly Southern-accented boo at Obama’s support for a ban on congressional insider trading, it’s happening in the Senate as we speak. The logic is that it would prevent members of Congress from using their knowledge of government-induced advantages to certain companies/industries for profit. I like the idea, but how would they enforce it before their tax returns are released? I doubt the Securities and Exchange Commission (SEC) has that level of access. And companies/industries having deep knowledge of government machinations is more pervasive, but has yet to be addressed.
