Tuesday, April 27, 2010

Headlines - Tuesday April 26

Corporate tax rate - the truth

Next time a teabagger or conservative economist complains about high corporate rates impeding economic growth, feel free to set them straight.

"The key point to recognise is that it is not simply the statutory rate of corporate income tax that is important here, but also the effective tax rate for current corporate income tax, taking into account all the additions and deductions to profit before tax that tax rules may require."

From an August 2008 report by the Government Accountability Office (GAO):

"Statutory tax rates do not provide a complete measure of the burden that a tax system imposes on business income because many other aspects of the system, such as exemptions, deferrals, tax credits, and other forms of incentives, also determine the amount of tax a business ultimately pays on its income."

The US effective corporate tax rate is the key indicator here and it is lower than all but one of the G8 countries.

h/t MediaMatters

Republicans have taken more Wall Street cash over the past 6 years than Dems - which is why it's no surprise that they fought to keep negotiations secret and all voted against even having a debate about financial reform. 
Obama did issue one of his harshest statements to date on the GOP filibuster of the Wall Street reform bill.
Maybe he's gotten the hint that they're not going to work with him. And that they're assholes.
"I thought about asking a guy who snorted cocaine and got arrested for DUI when 
 he was 30 to come and speak to our kids, but George W. Bush was not available." 
- Woodland Middle School principal  Terry Oatts, after parents criticized him for allowing a convicted rapper to do community service by talking to the kids


"The only thing Obama knows about money is how to spend other people's." - the blind and vulgar Pigboy 

 Rush, shall we look at the proof again?


Who needlessly spent the most money?


Mission accomplished: Iraq Election Chaos as 52 Candidates are Disqualified.


RNC still sending out deceptive 'Census' mailer.


Shameless: Last month, Sen. Chuck Grassy (R-IA) — a vocal opponent of the new health care law — issued a press release taking credit for some provisions in the new health care law. "The health care legislation signed into law yesterday includes provisions Grassley co-authored to impose standards for the tax exemption of charitable hospitals for the first time," the release boasted. "The provisions enacted in the new health care law are the result of Grassley's leadership on tax-exempt organizations' accountability and transparency, including hospitals."

Now, Grassley's office has issued another release, highlighting how the new law would help Medicare beneficiaries in rural Iowa.


Wisco: Will Republicans self-destruct over Wall Street reform?


Jesus' General: Did Shlomo prank Moses?


How tragic. Not.


Andrew Sullivan tips us to some cartoon-to-cartoon support offered from the Simpsons to South Park, after the latter's creators received death threats for depicting Mohammed in a bear costume. The Simpsons ran the above message in the opening to last night's episode.







The Vatican is threatening to cancel the Pope's upcoming visit to Britain after the publication of an internal memo suggesting some fabulous activities for Palpatine during his visit.

The British government has reassigned those responsible for the memo and has issued an abject apology to the Vatican.

UPDATE: According to the
Guardian UK, the Vatican has just confirmed that the Pope will visit after all.

The pope's visit to Britain will not be affected by the disclosure of a Foreign Office document mocking the Catholic Church, the Vatican said today. Vatican spokesman Father Federico Lombardi had noted the Foreign Office apology and said the paper would have "absolutely" no impact on Benedict XVI's visit in September, an official confirmed.

Unlike, say, the impact that being raped had on the little boys. 


Morford: Real women cause earthquakes.


Greg Palast: Behind the Arizona immigration law: GOP game to swipe the November election

It should be no surprise at this point; this is how Republicans operate. Whether it's voter roll purges in Florida, inadequate voting machines in black precincts in Ohio in 2004, or calls for literacy tests, it is now a FACT that Republican election tactics include, and rely heavily on, the disenfranchisement of Americans who don't vote Republican. For all the talk about ACORN, there has been NOT ONE INSTANCE of EVEN ONE PERSON who voted fraudulently as a result of anything ACORN did. And yet, we have two tainted presidential elections in 2000 and 2004 behind us, and now Virginia and Arizona essentially advocating Jim Crow-type tactics.

This is what Republicans are. It has always been thus.


The inexperienced socialist Marxist president who could

Go ahead, Rushpublics, call him a radical Marxist commie socialist. But while you're zinging him with labels, you might want to add "successful":

By the end of this year, Obama "will have soundly achieved many of his chief campaign promises while running a highly competent, scandal-free government. Not bad for a guy whose opponents (in both parties) for the White House suggested he was too green in national life to know how to do the job -- and whose presidency began in the midst of a worldwide economic crisis that demanded urgent attention and commanded much of his focus."
Wait, what? "Scandal free"? A far cry from these pages and pages of Bush crime family escapades.

How over the top is Arizona's new immigration law?

Former Congressman Tom Tancredo — the same guy who said we should send the president back to Kenya and said a Supreme Court nominee is part of the "Latino KKK" — said this weekend that the new Arizona immigration law goes a little too far.

"If I had anything to say about it, we'd be doing it in Colorado," Tancredo told Denver news station KDVR. But, he said, "I do not want people here, there in Arizona, pulled over because you look like should be pulled over."

When Tancredo thinks you've gone too far on immigration reform, there's a pretty good chance you've gone too far.


On the other hand, if they are more like our cousins the chimps, they might be an asset to this spinning blue rock... "For the first study, scientists observed how three adult chimpanzees reacted when an elderly female, named Pansy, gradually passed away in an indoor enclosure at Blair Drummond Safari Park in Stirling, Scotland. The over 50-year-old Pansy had grown increasingly lethargic before lying down on the floor one day after eating. ... "In the days before Pansy died, the others were notably attentive towards her, and they even altered their routine sleeping arrangements to remain by her, by sleeping on the floor in a room where they don't usually sleep," lead author James Anderson told Discovery News. ... Blossom, another elderly female, and Pansy's daughter, Rosie, both stroked and groomed the dying Pansy, and sometimes just sat, subdued, beside the elderly female."


Andy Borowitz via YubaNet.

NORFOLK, VIRGINIA (The Borowitz Report) – Eleven indicted Somali pirates dropped a bombshell in a U.S. court today, revealing that their entire piracy operation is a subsidiary of banking giant Goldman Sachs.

There was an audible gasp in the courtroom when the leader of the pirates announced, "We are doing God's work. We work for Lloyd Blankfein."

The pirate acknowledged that they merged their operations with Goldman in late 2008 to take advantage of the more relaxed regulations governing bankers as opposed to pirates, "plus to get our share of the bailout money."
"There are lots of laws that could bring these guys down if they were, in fact, pirates," one government source said. "But if they're bankers, our hands are tied."



Greenwald: The New York Times' Muslim problem 


Here we go again:

Sen. Ben Nelson (D-Neb.) has voted no on the cloture motion to start debate on Sen. Chris Dodd's (D-Conn.) financial regulatory reform bill — meaning the motion will likely fail, 58 to 42, short of the 60 votes needed. Republicans will tout this as an extraordinary victory demonstrating bipartisan opposition to moving forward on financial regulation until the bill is tried, tested and sorted. But my guess is that Nelson knew the motion would not pass, having failed to garner Sen. Olympia Snowe's (R-Maine) vote earlier today, and decided not to vote for it at that point.


"Jamie, do you have any idea how long we are going
to have to wear The Azure Letter?"


Chimpy done wrote something! 

Decision Points, by Chimpy McStagger, will be published on November 9, 2010, by Crown Publishers …

Centered on the fourteen most critical and historic decisions ("Ah counted 'em mahself using all mah fingers and toes.") in the life and public service of the 43rd President of the United States. ("Ah wanna use mah favrite blue crayon t' day. It seemed like a blue crayon kinda day.")

Since leaving the Oval Office, Chimpy has given virtually no interviews or public speeches about his presidency. (Who would listen? Even Chimpy is not that stupid. Well, actually he is that stupid. Never mind.) Instead, he has spent almost every day writing Decision Points ("How Ah Spent Mah Summer Vakayshun, by Chimpy McStagger")

  • Chimpy brings readers inside the Texas Governor's Mansion on the night of the hotly contested 2000 election ("Ah had nachoes 'n' Wild Turkey t' go with mah felony.");
  • aboard Air Force One on 9/11 in the gripping hours after America's most devastating attack since Pearl Harbor ("Teletubbies was pre-empted. This will not stand!");
  • inside the Situation Room in the moments before launching the war in Iraq ("Ol' Turdblossom and Blam-Blam wouldn't play Leggo with me, so Ah knowed somefing was up!");
  • and behind the Oval Office desk (Y'all ain' seen nuthin' till y'all seen what a mess Ah made back there!')

The former President offers:

  • details about his decision to quit drinking ("We was outta booze that day, that horrible day…"),
  • his discovery of faith ("Ah have faith that we will never be outta booze agin!") …

Decision Points will carry a suggested retail price of $35 (wait a week or two and you can find it remaindered everywhere.) A cloth-bound, signed ("Ah will put mah X on it mahself, Ah swear to Jeebus!"), and numbered limited edition of 1,000 copies, priced at $350, is also planned. At publication, the former President will embark on a national book tour. ("Ah wanted t' start at Six Flags, but then Pickles reminded me of whut happened the last time Ah went on the Tilt-a-Whirl.")


Mexico President Felipe Calderón "vigorously condemned" Arizona's draconian new immigration law yesterday, saying it "opens the door to intolerance and hatred," and promised it would be at the top of his agenda when he comes to Washington next month. Other "Mexican officials reacted with swift and near-universal condemnation, warning that the law could harm trade, tourism and bilateral relations."

Wages earned in the US and sent back to Mexico are Mexico's second largest source of income.


America's Churches Will Shut Down Because 'Young Adults' Don't Ever Go To Church

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