Some more longer form reads for your weekend perusal:

• How Physics and Neuroscience Dictate Your “Free” Will (Scientific American)
China Digs It: How Beijing Cornered the Rare Earths Market (Foreign Affairs)
• Why half of us don’t pay income tax (CNN Money)
• Let’s Stop Big Media’s (B)AD Behavior (Bill Moyers)
Stiglitz: Politics Is at the Root of the Problem (The European Mag) see also Barry Eichengreen on the Euro (The Browser)
• A spaceship is the perfect gift for the billionaire who has everything (Venture Beat)
• An Unlikely Place to Nurture the Entrepreneurial Spirit? Jail. ( see also My Week at Private Equity Boot Camp (Businessweek)
• Yelp, You Cost Me $2000 by Suppressing Genuine Reviews, Here’s How You Fix It (Justin Vincent)
• Twenty Citizens’ Worth Of Blood Flowed Through Him: A Medic Confronts The Open Wounds Of Afghanistan (Deadspin)
• Historic Photos From the NYC Municipal Archives (The Atlantic)

What are you reading?


Slowing Growth Stirs Recovery Fears

Source: WSJ


Category: Financial Press

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

15 Responses to “10 Sunday Reads”

  1. ilsm says:

    Thanks for the CNN link. Huddathunk that with SS payrolltaxes 82% of the households pay federal taxes, not including all those sales taxes and other regressive ways to keep the 99% down.

    The new monopsony; the Prisons’ Industrial Complex, the main lobby for the war on drugs, soon to be as plundering as the military industry complex.

  2. franklin411 says:

    How Apple Sidesteps Billions in Taxes

    A mile and a half from Apple’s Cupertino headquarters is De Anza College, a community college that Steve Wozniak, one of Apple’s founders, attended from 1969 to 1974. Because of California’s state budget crisis, De Anza has cut more than a thousand courses and 8 percent of its faculty since 2008.

    Now, De Anza faces a budget gap so large that it is confronting a “death spiral,” the school’s president, Brian Murphy, wrote to the faculty in January. Apple, of course, is not responsible for the state’s financial shortfall, which has numerous causes. But the company’s tax policies are seen by officials like Mr. Murphy as symptomatic of why the crisis exists.

    “I just don’t understand it,” he said in an interview. “I’ll bet every person at Apple has a connection to De Anza. Their kids swim in our pool. Their cousins take classes here. They drive past it every day, for Pete’s sake.

    “But then they do everything they can to pay as few taxes as possible.”

  3. Mike in Nola says:

    The Woz is impressed with Windows Phone:

    “I’m kind of shocked. Every screen is much more beautiful than the same apps on Android and iPhone.”

    A later comment he left may have been tongue in cheek or may have just reflected Apple Hubris and the mindset that no one but Apple can innovate:
    “I surmise that Microsoft hired someone from Apple and put money into having a role in the UI and appearance of some key apps. I also surmised that Steve Jobs might have been reincarnated at MS due to a lot of what I see and feel with this phone making me think of a lot of great Apple things.”

    BTW, on the voice input, he apparently wasn’t aware of voice input apps on the Lumia. An NPR report a few weeks ago basically describes the voice input search as crushing Siri.

  4. rd says:

    I have long felt that the US tax code is bizarre and unAmerican.

    A simple approach:

    1. Set basic exemption at the poverty line
    2. No other deductions/credits other than legitimate business costs
    3. Eliminate Social Security and Medicare payroll taxes for employees and businesses
    4. Count ALL income, wages, salary, welfare, social security, pension, interest, dividends, capital gains etc.
    5. Set a baseline tax rate of 15% above the poverty line exemption
    6. Increase it to 30% at whatever income level is necessary to raise the money necessary to run the country
    7. Set the corporate tax rate at 20%. Allow dividend payments to be a business expense.
    8. No corporate subsidies/credits etc. If the business doesn’t work under GAAP accounting, then it does not work.

  5. VennData says:

    Romney switches strategy

    “…Romney aides say he’ll shun the “red-meat” conservative issues of abortion and immigration and instead hold more events highlighting his broader appeal…”

    The Tea Partiers get laughed at. What a bunch of suckers you folks are. Doing the bitch work of your tax-cuts-for-the-rich yolk holders.

    ROFL! Abortion! Guns! Balanced Budgets! THESE are real GOP issues, right? ROFL!

  6. louis says:

    Those old NYC photos are sweet.

  7. VennData says:

    In Hopeful Sign, Health Spending Is Flattening Out

    Now, why is it the GOP Media Machine doesn’t want you reading the New York Times?

    I guess we don’t need those self-sacrificing Tea Partiers, who took a bullet to get …Romney as the GOP nominee, to have “their” plan…

  8. VennData says:

    … I really like repealing EMTALA, the federal mandate that forces emergency rooms to care for people regardless of their ability to pay.

    The “Check their wallets first” law.

    Real Americans. Real Patriots. Compassionate Conservatism. Go GOP.

  9. Jojo says:

    A Tax Windfall From the Housing Bust
    By Amanda J. Crawford on April 26, 2012

    As Karen Jacobs, an economist in Arizona’s Department of Revenue, was reviewing income tax data for 2010, she came across a puzzling trend: Refunds were down and tax liability was up even though the state’s unemployment rate peaked that year, at 10.8 percent. “My first thought was: ‘Taxable income? Why would that be up if people are losing jobs?’ ” says Jacobs.

    With new houses sitting vacant in the desert and foreclosures soaring, it didn’t take long to figure out the reason. Home ownership rates, real estate prices, and interest rates were all falling, so fewer people were deducting mortgage interest and mortgage holders had often borrowed less or had refinanced at lower rates. The value of itemized deductions dropped 20 percent for the year—led by a decline in the tax break for mortgage interest. “I was shocked about how much I owed,” says Stephen Buckman, who had to pay the Internal Revenue Service $1,500 when he filed his 2011 taxes. In December 2010, a bank foreclosed on his Phoenix townhouse, which had plunged in value to $50,000 from the $196,000 he paid in 2006.

    The bottom line: Mortgage interest deductions have dropped by more than $70 billion as the housing bust means fewer Americans qualify for the write-off.

  10. Jojo says:

    Just as with the unemployment numbers, looks like Washington has found a way to make inflation look like even less than they have been reporting, which means savings for anyone who has to make adjustments based on the government CPI numbers.
    Bloomberg View: A Bipartisan Deficit Fix
    Posted on April 26, 2012

    Congress and the White House seem incapable of agreeing on substantive measures to tackle the $10.4 trillion mountain of U.S. debt. There is, however, one long-overdue piece of important business that can and should get done: the adoption of a more accurate gauge of U.S. inflation. Such a fix would yield immediate savings and help put the economy on firmer ground. It’s already been endorsed by lawmakers in both parties, the Obama administration, many economists, and a series of bipartisan deficit-reduction panels. Best of all, it would help shore up Social Security. Trustees for the retirement fund projected on April 23 that it would run dry in 2033, three years earlier than last year’s forecast.

    It has been widely recognized for almost two decades that the current measure of inflation, the consumer price index, contains several biases that cause it to overstate inflation by anywhere from 0.3 percentage point to 0.8 percentage point, depending on which expert you talk to. The CPI is the benchmark that determines cost-of-living adjustments for a wide range of government programs, including Social Security and federal employee pensions. It’s also used to peg income tax brackets, exemptions, deductions, and credits.

  11. VD,

    that you can be, so, professionally, Glib..

    when..”…Young Americans are still losing legs, hands, eyes, testicles; still burning, bleeding, or exploding to death nearly every day in Afghanistan. My brother once hypothesized that the American public would not realize the scope of the war until a confusing number of young amputees started walking American streets. I think he was right. When you inevitably meet one of the million troops who have served abroad in the last 10 years, perhaps even one of my patients, he or she will walk with some measure of tragedy that does not happen on accident. Someone was out for blood. Someone wanted this…”

    is, readily, available to be understood–is, just, more Proof that you are a Communicable Disease.

  12. rd says:


    The reduced home-ownership, declining home values, and low interest rates means now is the time to kill the sacred cow of home mortgage deductions (I have a mortgage by the way) so that deductions and credits as a whole can be largely eliminated.

    Other than the mortgage, property tax, and charitable contributions I get to scroll down through pages of tax deduxtions and credits that I am not elegibile for. Even at the end of that, we still owe AMT every year!

    Romney’s mantra for the election should be “Simplify the tax code and bring back fairness!” Yes, he would be advocating that he pay more tax, which would make his campaign more likely to win.

  13. ami_in_deutschland says:

    The interview with Nick Hanauer and Eric Liu on Charlie Rose is very thought provoking. The notion that policies promoting a strong middle class are key to long-term prosperity and a healthy democracy is certainly nothing new, but the two do a good job explicating this argument within the context of the current political environment and economic crisis.

  14. Alex says:

    Yelp is garbage and they don’t care. I tried to open up these very issues in Yelp forum and got a pretty high and mighty speech about how they know what they are doing and I do not. So needless to say I have completely given up on Yelp.

    I was on the other end of this issue. I found that most of my posts were hidden because they determined they were not “sincere” and I did not post enough. Only one very brief post with five stars remained standing. Now you would think that my complaining about it in a constructive and interactive manner would indicate I am a real person who actually cares about it all, but not according to Yelp. If I wanted to be taken seriously, I needed to do a bunch of things and they MIGHT start taking my reviews seriously. For instance, posting a lot more personal information on my profile.

    It was then that I realized that Yelp’s reviews are not worth much. So this story above does not surprise me at all. If you think that Amazon reviews are iffy, then you should run from Yelp’s!

    I wonder if Angie’s List is any better?