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Who (Else) Didn’t Pay Taxes Last Year

Posted on November 14, 2012 in Articles

The Article: Buffett Rule Rorschach: 7,000 Millionaires Paid No Income Taxes in 2011 by Derek Thompson in The Atlantic.

The Text: The White House’s new campaign banner/economic principle is the so-called “Buffett Rule,” which holds that no millionaire should pay a lower effective tax rate than a typical middle class family. Sound sensible, yes? Of course it does. The tax code is progressive and purposefully so. Marginal income tax rates increase with income. The more you make, the greater share of income you pay. Disagreeing with this general principle puts you to the right of a typical Republican.

But the Buffett Rule wasn’t meant to hold up to strict constructionism. “You cannot build a tax code on the principle that no millionaire, ever, should ever have an effective tax rate lower than their secretary,” my Atlantic colleague Megan McArdle wrote this morning. Well, you could, she allows, but you’d have to give the IRS extralegal responsibilities to seize rich people’s income beyond what they owe.

To understand why, consider the 76 million people who don’t legally owe individual income taxes in 2011 (please, please note: does not include payroll, excise, state and local taxes). The vast majority of this group was poor. They didn’t owe individual income taxes because they didn’t owe a lot of money to start, and various exemptions, like the earned income tax credit, wiped out the rest.

More Young Americans With Health Insurance? Thanks, OBAMA!

Posted on November 13, 2012 in Articles

The Article: Obamacare Results in Largest Drop in Young Adult Uninsured Rate… EVER. in The People’s View.

The Text: This is what Mitt Romney and the Republicans will repeal: The share of young adults without health insurance fell by one-sixth in 2011 from the previous year, the largest annual decline for any age group since the Centers for Disease Control and Prevention began collecting the data in 1997, according to a new report released on Monday.

I wonder what could have resulted in this. Oh, right, the socialist Kenyan usurper plot to institute death panels by guaranteeing access to health care for more people, aka Obamacare.

The study’s author, Matthew Broaddus, a research analyst at the liberal Center on Budget and Policy Priorities, said the increased coverage for young people was almost certainly due to a provision in the Obama administration’s Affordable Care Act that allows children to stay on their parents’ insurance policies until their 26th birthday.

The Party Of Work

Posted on November 12, 2012 in Articles

The Article: The Party of Work by David Brooks in The New York Times.

The Text: The American colonies were first settled by Protestant dissenters. These were people who refused to submit to the established religious authorities. They sought personal relationships with God. They moved to the frontier when life got too confining. They created an American creed, built, as the sociologist Seymour Martin Lipset put it, around liberty, individualism, equal opportunity, populism and laissez-faire.

This creed shaped America and evolved with the decades. Starting in the mid-20th century, there was a Southern and Western version of it, formed by ranching Republicans like Barry Goldwater, Ronald Reagan and George W. Bush. Their version drew on the traditional tenets: ordinary people are capable of greatness; individuals have the power to shape their destinies; they should be given maximum freedom to do so.

This is not an Ayn Randian, radically individualistic belief system. Republicans in this mold place tremendous importance on churches, charities and families — on the sort of pastoral work Mitt Romney does and the sort of community groups Representative Paul Ryan celebrated in a speech at Cleveland State University last month.

Does Airport Security Really Make Us Safer?

Posted on November 12, 2012 in Articles

The Article: Smoke Screening by Charles C. Mann in Vanity Fair.

The Text: Not until I walked with Bruce Schneier toward the mass of people unloading their laptops did it occur to me that it might not be possible for us to hang around unnoticed near Reagan National Airport’s security line. Much as upscale restaurants hang mug shots of local food writers in their kitchens, I realized, the Transportation Security Administration might post photographs of Schneier, a 48-year-old cryptographer and security technologist who is probably its most relentless critic. In addition to writing books and articles, Schneier has a popular blog; a recent search for “TSA” in its archives elicited about 2,000 results, the vast majority of which refer to some aspect of the agency that he finds to be ineffective, invasive, incompetent, inexcusably costly, or all four.

As we came by the checkpoint line, Schneier described one of these aspects: the ease with which people can pass through airport security with fake boarding passes. First, scan an old boarding pass, he said—more loudly than necessary, it seemed to me. Alter it with Photoshop, then print the result with a laser printer. In his hand was an example, complete with the little squiggle the T.S.A. agent had drawn on it to indicate that it had been checked. “Feeling safer?” he asked.

Ten years ago, 19 men armed with utility knives hijacked four airplanes and within a few hours killed nearly 3,000 people. At a stroke, Americans were thrust into a menacing new world. “They are coming after us,” C.I.A. director George Tenet said of al-Qaeda. “They intend to strike this homeland again, and we better get about the business of putting the right structure in place as fast as we can.”

After Obama’s Election, Angry Coal CEO Lays Off Employees

Posted on November 11, 2012 in Articles

The Article: After Obama reelection coal company CEO reads prayer to staff, announces layoffs by Steven Mufson in The Washington Post.

The Text: For the chairman and chief executive of Murray Energy, an Ohio-based coal company, the reelection of President Obama was no cause for celebration. It was a time for prayer – and layoffs.

Robert E. Murray read a prayer to a group of company staff members on the day after the election, lamenting the direction of the country and asking: “Lord, please forgive me and anyone with me in Murray Energy Corp. for the decisions that we are now forced to make to preserve the very existence of any of the enterprises that you have helped us build.”

On Wednesday, Murray also laid off 54 people at American Coal, one of his subsidiary companies, and 102 at Utah American Energy, blaming a “war on coal” by the administration of President Barack Obama.”