I wanted to let all of you "fans" know that I am going to be posting at Monroe Rising from time to time, as well as here at the Moot Points blog.
Monroe Rising is a top-notch local Conservative blog. It gets a lot of traffic and a good deal of commentary. Many excellent bloggers post there and I was happy to be able to join them.
Check it out!
Thursday, October 16, 2008
Wednesday, October 8, 2008
Time's Running Out For McCain
John McCain did pretty well last night, but I doubt anyone thinks he scored enough points to change the dynamic of the race. There were a couple of places where he could have hammered Obama (e.g., on Obama's epiphany on nuclear power) but he did not throw the knock-out punch.
He also failed to really tie Obama to Bill Ayers in any meaningful way. For some reason, it just doesn't appear to be in McCain's nature to really go for the throat.
While there is some tentative evidence that the race may be tightening a little, I'd say that if its true, its as much due to Palin as it is to McCain. I don't think much he did last night really moved the needle. Clearly, he's running out of time to make that happen.
Moreover, I, like many conservatives, was floored by his announcement regarding directing the paydown and renegotiation of delinquent mortgage loans. For a moment, I thought that Obama and McCain had switched bodies (ala "Freaky Friday"). It surprised me that such an anti-capitalist proposal was being pushed by a so-called conservative Republican.
But, lets face it, John McCain is not a regular Republican. I just wish he wouldn't keep reminding conservatives why he wasn't their first choice
He also failed to really tie Obama to Bill Ayers in any meaningful way. For some reason, it just doesn't appear to be in McCain's nature to really go for the throat.
While there is some tentative evidence that the race may be tightening a little, I'd say that if its true, its as much due to Palin as it is to McCain. I don't think much he did last night really moved the needle. Clearly, he's running out of time to make that happen.
Moreover, I, like many conservatives, was floored by his announcement regarding directing the paydown and renegotiation of delinquent mortgage loans. For a moment, I thought that Obama and McCain had switched bodies (ala "Freaky Friday"). It surprised me that such an anti-capitalist proposal was being pushed by a so-called conservative Republican.
But, lets face it, John McCain is not a regular Republican. I just wish he wouldn't keep reminding conservatives why he wasn't their first choice
Wednesday, October 1, 2008
Oh, How The Mighty Have Fallen
For the past week, we've been hearing how vital passage of the bailout bill is. Yet, in order to pass it, the once three page bill Treasury Sec. Paulson offered is now several hundred pages and includes the following:
Extensions of the AMT patch, tax deductions on state and local sales taxes, tuition, teacher expenses and real property taxes and tax credits for business research and new market investors;
Energy tax credits and incentives to encourage wind and refined coal production, new biomass facilities, wave and tide electricity generators, solar energy property improvements, CO2 capturing, plug-in electric drive vehicles, idling reduction units on truck engines, cellulosic biofuels ethanol production, energy efficient houses, offices, dishwashers, clothes washers and refrigerators, and fringe benefits for employees commuting by bicycle;
A requirement for private insurance plans to offer mental health benefits on par with medical-surgical benefits;
Tax relief provisions for victims of this summer's Midwestern floods, and Hurricane Ike;
Freezing of deductions for sale and exchange of oil and natural gas, mandatory basis reporting by brokers for transactions involving publicly traded securities and an extension of the oil spill tax;
Economic development credit to American Samoan businesses;
$10,000 tax credit for training of mine rescue team members;
50% immediate expensing for extra underground mine safety equipment;
Tax credit for businesses with employees from an Indian reservation;
Accelerated depreciation for property used mostly on an Indian reservation;
50% tax credit for some expenditures on maintaining railroad tracks;
7-year recovery period for motorsports racetrack property;
Expensing of cleaning up "brownfield" contaminated sites;
Enhanced deductions for businesses donating computers and books to schools, and for food donations;
Deduction for income from domestic production in Puerto Rico;
Tax credit for employees in Hurricane Katrina disaster area;
Tax incentives for investments in poor neighborhoods in D.C.;
Increased rehabilitation credit for buildings in Gulf area;
Reduction of import duties on some imported wool fabrics, transfers other duties to Wool Trust Fund to promote competitiveness of American wool;
Special expensing rules for film and TV productions;
Increasing cover of rum excise tax revenues to Puerto Rico and the Virgin Islands;
Making it easier for film and TV companies to use deduction for domestic production;
Exempting children's wooden arrows from excise tax; and
Income averaging for Exxon Valdez litigants for tax purposes.
A bill that was so clearly vital needed all of these extra items to be included to get it through? I can only wonder what intelligent leaders around the world think of us today.
I'm sorry, but I'm embarrassed to be an American.
Extensions of the AMT patch, tax deductions on state and local sales taxes, tuition, teacher expenses and real property taxes and tax credits for business research and new market investors;
Energy tax credits and incentives to encourage wind and refined coal production, new biomass facilities, wave and tide electricity generators, solar energy property improvements, CO2 capturing, plug-in electric drive vehicles, idling reduction units on truck engines, cellulosic biofuels ethanol production, energy efficient houses, offices, dishwashers, clothes washers and refrigerators, and fringe benefits for employees commuting by bicycle;
A requirement for private insurance plans to offer mental health benefits on par with medical-surgical benefits;
Tax relief provisions for victims of this summer's Midwestern floods, and Hurricane Ike;
Freezing of deductions for sale and exchange of oil and natural gas, mandatory basis reporting by brokers for transactions involving publicly traded securities and an extension of the oil spill tax;
Economic development credit to American Samoan businesses;
$10,000 tax credit for training of mine rescue team members;
50% immediate expensing for extra underground mine safety equipment;
Tax credit for businesses with employees from an Indian reservation;
Accelerated depreciation for property used mostly on an Indian reservation;
50% tax credit for some expenditures on maintaining railroad tracks;
7-year recovery period for motorsports racetrack property;
Expensing of cleaning up "brownfield" contaminated sites;
Enhanced deductions for businesses donating computers and books to schools, and for food donations;
Deduction for income from domestic production in Puerto Rico;
Tax credit for employees in Hurricane Katrina disaster area;
Tax incentives for investments in poor neighborhoods in D.C.;
Increased rehabilitation credit for buildings in Gulf area;
Reduction of import duties on some imported wool fabrics, transfers other duties to Wool Trust Fund to promote competitiveness of American wool;
Special expensing rules for film and TV productions;
Increasing cover of rum excise tax revenues to Puerto Rico and the Virgin Islands;
Making it easier for film and TV companies to use deduction for domestic production;
Exempting children's wooden arrows from excise tax; and
Income averaging for Exxon Valdez litigants for tax purposes.
A bill that was so clearly vital needed all of these extra items to be included to get it through? I can only wonder what intelligent leaders around the world think of us today.
I'm sorry, but I'm embarrassed to be an American.
Sunday, September 28, 2008
Random Thoughts
The Debate:
I imagine that partisans both think their guy won. I thought McCain had a slight advantage; this was confirmed when I saw that “unbiased” news reports called the debate a draw.
I am in the camp of those who think Obama benefited from the debate more than McCain. His number one goal had to be to “look Presidential” or at least look like he was up to the job. I’d have to say he probably succeeded there.
McCain seemed to me to be the visceral or emotional candidate. Obama seemed like the controlled or programmed one. Obama was better on his feet than I thought he might be, but he pulled it off by using his talking points and standard responses. McCain seemed more genuine.
The debate left me more convinced than ever that if Obama is elected, he will rival Jimmy Carter as being the man most unsuited for the job. Obama will “rule by committee”. He has to. He will rely heavily on his advisers, because he just isn’t capable of decisive, independent action. On the other hand, McCain is certain of his own rectitude. I don’t see him putting too many decisions up to a vote. Perhaps there is something incautious or even dangerous about that, but I think leadership is what Americans really want, not talking points or position papers. That is McCain all day long.
Financial Mess:
If this is the last big issue George W. handles, it is quite apropos that the PR was bungled. How did the administration let the plan get characterized as a “bailout of Wall Street”? I realize that the underlying problems are quite complex, but like so many other things, Bush’s attempts to oversimplify things worked against him.
If there was any doubt about media bias, the fact that the media is covering up the Democrats responsibility for the sub-prime mortgage boom should eliminate it. How can it be that Barney Frank’s 2003 comment* scoffing about Fannie and Freddie’s problems isn’t on the front pages? And why is it that only bloggers can point out Obama’s connections to Fannie and Freddie?
Assemblyman Hoyt:
Frankly, if you aren’t smart enough to know that e-mails are not secure, you’re not competent to be in the New York State Assembly. If his lack of morality doesn’t disqualify him, stupidity should.
* ”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ”The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”
I imagine that partisans both think their guy won. I thought McCain had a slight advantage; this was confirmed when I saw that “unbiased” news reports called the debate a draw.
I am in the camp of those who think Obama benefited from the debate more than McCain. His number one goal had to be to “look Presidential” or at least look like he was up to the job. I’d have to say he probably succeeded there.
McCain seemed to me to be the visceral or emotional candidate. Obama seemed like the controlled or programmed one. Obama was better on his feet than I thought he might be, but he pulled it off by using his talking points and standard responses. McCain seemed more genuine.
The debate left me more convinced than ever that if Obama is elected, he will rival Jimmy Carter as being the man most unsuited for the job. Obama will “rule by committee”. He has to. He will rely heavily on his advisers, because he just isn’t capable of decisive, independent action. On the other hand, McCain is certain of his own rectitude. I don’t see him putting too many decisions up to a vote. Perhaps there is something incautious or even dangerous about that, but I think leadership is what Americans really want, not talking points or position papers. That is McCain all day long.
Financial Mess:
If this is the last big issue George W. handles, it is quite apropos that the PR was bungled. How did the administration let the plan get characterized as a “bailout of Wall Street”? I realize that the underlying problems are quite complex, but like so many other things, Bush’s attempts to oversimplify things worked against him.
If there was any doubt about media bias, the fact that the media is covering up the Democrats responsibility for the sub-prime mortgage boom should eliminate it. How can it be that Barney Frank’s 2003 comment* scoffing about Fannie and Freddie’s problems isn’t on the front pages? And why is it that only bloggers can point out Obama’s connections to Fannie and Freddie?
Assemblyman Hoyt:
Frankly, if you aren’t smart enough to know that e-mails are not secure, you’re not competent to be in the New York State Assembly. If his lack of morality doesn’t disqualify him, stupidity should.
* ”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ”The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”
Monday, September 22, 2008
Dollars and (Non)Sense
The turmoil in the financial markets continued today as questions abounded over the government's mortgage lender bail-out proposal.
I haven't had enough time to truly digest all of the possibilities and ramifications of the plan, but a couple of things have been bothering me about it.
First, I question whether or not the average Senator or Congressman has a sufficient understanding of economics to render competent decisions regarding the plan. I shudder whenever there is large-scale legislation or government intervention regarding the economy. The Law of Unintended Consequences almost always rears its head in these situations. This is particularly true because our government officials and legislators cannot resist the temptation to pursue political advantage through such efforts.
Lets not forget that a good part of this crisis had its genesis in legislation. The early nineties saw legislation which eliminated distinctions between types of financial institutions in order to 'level the playing field". We also saw lenders being jawboned by government into lending to lower-income, higher risk borrowers on the threat of being called "red-liners". Those efforts set the table for the practices which brought us to the current crisis.
Further, the entire concept of a "bail-out" troubles me. I understand the argument that the situation is so wide-spread that we cannot afford to sit idly by. But what ever happened to the bedrock values which underpinned our country and economy for so long? Concepts like hard-work, thrift, and personal responsibility appear to have become passe.
If all of these bad loans are forgiven, what does that say to the vast majority of borrowers who have cut corners, taken second jobs, scrimped and saved, and paid their bills on time? We will once again be rewarding behavior we do not want and "punishing" behavior we should be promoting. Can the government (meaning us taxpayers) really afford to cushion every economic failure?
Once again, I guess its too soon to really know whether or not this plan is the right move. I just have to wonder if Capitalism is on its deathbed.
I haven't had enough time to truly digest all of the possibilities and ramifications of the plan, but a couple of things have been bothering me about it.
First, I question whether or not the average Senator or Congressman has a sufficient understanding of economics to render competent decisions regarding the plan. I shudder whenever there is large-scale legislation or government intervention regarding the economy. The Law of Unintended Consequences almost always rears its head in these situations. This is particularly true because our government officials and legislators cannot resist the temptation to pursue political advantage through such efforts.
Lets not forget that a good part of this crisis had its genesis in legislation. The early nineties saw legislation which eliminated distinctions between types of financial institutions in order to 'level the playing field". We also saw lenders being jawboned by government into lending to lower-income, higher risk borrowers on the threat of being called "red-liners". Those efforts set the table for the practices which brought us to the current crisis.
Further, the entire concept of a "bail-out" troubles me. I understand the argument that the situation is so wide-spread that we cannot afford to sit idly by. But what ever happened to the bedrock values which underpinned our country and economy for so long? Concepts like hard-work, thrift, and personal responsibility appear to have become passe.
If all of these bad loans are forgiven, what does that say to the vast majority of borrowers who have cut corners, taken second jobs, scrimped and saved, and paid their bills on time? We will once again be rewarding behavior we do not want and "punishing" behavior we should be promoting. Can the government (meaning us taxpayers) really afford to cushion every economic failure?
Once again, I guess its too soon to really know whether or not this plan is the right move. I just have to wonder if Capitalism is on its deathbed.
Sunday, September 21, 2008
New Bills Come of Age
As most of you know, the Buffalo Bills scored a great come-from-behind victory Sunday over the Oakland Raiders.
The Bills had started the season with great promise, winning their first two games. The next three opponents did not seem too tough. Dreams of a 5-0 start and a division lead were on the lips of many Bills fans. But, through the first three quarters of yesterday's game, it looked like the Bills were going to come crashing to Earth. They suffered through a dismal and mistake-filled performance in the face of a young, fired-up Raider squad.
When Oakland scored in the fourth quarter, many Bills fans were suffering deja vu; another hopeful start foundering on the shoals of reality. But this week, the new Bills came of age. Trent Edwards and Marshawn Lynch led a resilient bunch of Bills to two scores and sole possession of first place in their division. Where the Bills of the past few seasons would have folded, these new Bills found a way to win.
I think a new era began in Orchard Park on Sunday.
The Bills had started the season with great promise, winning their first two games. The next three opponents did not seem too tough. Dreams of a 5-0 start and a division lead were on the lips of many Bills fans. But, through the first three quarters of yesterday's game, it looked like the Bills were going to come crashing to Earth. They suffered through a dismal and mistake-filled performance in the face of a young, fired-up Raider squad.
When Oakland scored in the fourth quarter, many Bills fans were suffering deja vu; another hopeful start foundering on the shoals of reality. But this week, the new Bills came of age. Trent Edwards and Marshawn Lynch led a resilient bunch of Bills to two scores and sole possession of first place in their division. Where the Bills of the past few seasons would have folded, these new Bills found a way to win.
I think a new era began in Orchard Park on Sunday.
Friday, September 12, 2008
Obama Misses The Mark
This is Barak Obama's latest ad.
Very witty, no? Well it turns out that the reason John McCain cannot send e-mail is the same reason he can't comb his hair. It is due to his mistreatment by the Vietnamese while he was a POW.
Read more in this PowerLine post.
Very witty, no? Well it turns out that the reason John McCain cannot send e-mail is the same reason he can't comb his hair. It is due to his mistreatment by the Vietnamese while he was a POW.
Read more in this PowerLine post.
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