House Speaker Bill O'Brien on the Neil Cavuto show, here. O'Brien is saying the right to work law passed House and Senate with veto proof margins. The guv'nor has promised to veto it, but O'Brien thinks the legislature can over ride his veto.
Funny, the Speaker never mentions the real reason to pass right to work. We need right to work because most corporations won't open new plants in states that don't have right to work. New Hampshire needs new plants to provide jobs for our out-of-work citizens. Too much of the New Hampshire economy is tourism, which doesn't pay much even if it is scenic and green. Just one good factory would do a lot of good things in a place like up country New Hampshire.
Thursday, April 28, 2011
Dodd-Frank Financial Regulation Law
It doesn't regulate Wall St, it regulates anything that Dodd or Frank wanted to regulate. Buried in the 2000 pages is a requirement for US companies to report to the SEC yearly if they use tantalum, tin, tungsten, or gold from the Congo or nine neighboring countries.
Tantalum is needed to make high performance capacitors. Used to be only military electronics could afford tantalum oxide capacitors, while civilian electronics had to make do with aluminum oxide capacitors, but now tantalum is cheap enough for civilian use. Tungsten makes lamp filaments and tungsten carbide teeth to tip saw blades. Tin and gold have been valuable since Phoenician times.
Apparently Dodd or Frank slipped this goody into the financial regulation bill in order to cut off sales by Congo rebels. In actual fact it's cutting off sales from all of Africa. It also requires every company in the supply chain to do mountains of extra paper work, raising costs for all of us.
First I ever heard of it was yesterday's Wall St Journal. Apparently Dodd and Frank knew that a straight "apply-economic-sanctions-to-the-Congo" bill would never pass Congress, so they hid it deep inside their pet financial regulation bill.
Another good reason to never pass any bill too long to read.
Tantalum is needed to make high performance capacitors. Used to be only military electronics could afford tantalum oxide capacitors, while civilian electronics had to make do with aluminum oxide capacitors, but now tantalum is cheap enough for civilian use. Tungsten makes lamp filaments and tungsten carbide teeth to tip saw blades. Tin and gold have been valuable since Phoenician times.
Apparently Dodd or Frank slipped this goody into the financial regulation bill in order to cut off sales by Congo rebels. In actual fact it's cutting off sales from all of Africa. It also requires every company in the supply chain to do mountains of extra paper work, raising costs for all of us.
First I ever heard of it was yesterday's Wall St Journal. Apparently Dodd and Frank knew that a straight "apply-economic-sanctions-to-the-Congo" bill would never pass Congress, so they hid it deep inside their pet financial regulation bill.
Another good reason to never pass any bill too long to read.
Wednesday, April 27, 2011
Spring at last.
I opened the windows, sat on the deck, and put up the deck umbrella. First time this year.
Tax break for the oil industry?
Obama was on TV complaining about tax breaks for the oil industry. He wants to stop them, and spend the money (some $4 billion Obama says) on alternate energy. I have a question for Mr. Obama. Just what are these oil industry tax breaks? According to the web, the famous oil depletion allowance was eliminated for large corporations in 1975. So just what is this tax break, and why is it only $4 billion dollars. Seems like chump change for a trillion dollar industry.
And lastly, if such a tax break exists, and we end it, we don't want to spend the savings on boondoggles, in fact we don't want to spend it at all, we want to use it to reduce federal borrowing.
And lastly, if such a tax break exists, and we end it, we don't want to spend the savings on boondoggles, in fact we don't want to spend it at all, we want to use it to reduce federal borrowing.
Tuesday, April 26, 2011
Do you like austerity as an idea?
The TV newsies (even the Fox ones) have been bloviating that Americans don't want austerity measures to balance the federal budget. This article suggests that the pollsters are asking the wrong questions and the newsies are repeating the wrong answers.
Balancing the budget is selecting the best of several unpleasant alternatives. Nobody likes tax hikes or spending cuts. When the pollster asks "Do you approve of this unpleasant alternative" the answer is always NO. Of course, nobody approves of unpleasant choices. I don't, and you don't.
The correct question to ask is "Do you prefer this unpleasant choice over that unpleasant choice." When presented with these kinds of questions, a goodly sample of Americans choose to reduce Medicare and Medicaid spending, raise the eligibility age for social security and bump up the limits of the FICA tax. Taken together the measures produce (on paper at least) a balanced budget. In one year.
This article suggests the Federal budget problem in Washington is the product of small bore politicians who aren't trying to get the budget balanced. Instead they are all trying to win the 2012 election, by bashing their opponents over the budget.
Balancing the budget is selecting the best of several unpleasant alternatives. Nobody likes tax hikes or spending cuts. When the pollster asks "Do you approve of this unpleasant alternative" the answer is always NO. Of course, nobody approves of unpleasant choices. I don't, and you don't.
The correct question to ask is "Do you prefer this unpleasant choice over that unpleasant choice." When presented with these kinds of questions, a goodly sample of Americans choose to reduce Medicare and Medicaid spending, raise the eligibility age for social security and bump up the limits of the FICA tax. Taken together the measures produce (on paper at least) a balanced budget. In one year.
This article suggests the Federal budget problem in Washington is the product of small bore politicians who aren't trying to get the budget balanced. Instead they are all trying to win the 2012 election, by bashing their opponents over the budget.
Sharpe , Richard.
Sharpe, played by Sean Bean, is a British officer leading riflemen in the Napoleonic Wars. Sharpe is dashing, handsome, an effective combat leader, the man Wellington selects for especially difficult missions. He has a beautiful mistress, later his wife, who is also a leader of Spanish guerrillas. She is shot in action, and dies in Sharpe's arms in the fourth episode. The villains are villainous, and get their just deserts. The costumes are great, the redcoats are bright red, the riflemen wear dark green with lots of buttons, the ladies dresses are wide and floor sweeping. Sean Bean has a much better role here than he did as Boromir in Peter Jackson's Fellowship of the Ring.
Some British company did 14 episodes of Sharpe as a TV miniseries and Netflix has them all. The series is based upon a series of historical novels by Bernard Cornwall, and in my humble opinion the TV series does the books full justice. If you liked the Captain Hornblower mini series you will like this one. Good fun and good theatre.
Some British company did 14 episodes of Sharpe as a TV miniseries and Netflix has them all. The series is based upon a series of historical novels by Bernard Cornwall, and in my humble opinion the TV series does the books full justice. If you liked the Captain Hornblower mini series you will like this one. Good fun and good theatre.
Monday, April 25, 2011
NH State pension "reform". SB3
This bill isn't going to help us taxpayers much. First off it allows spiking. Pension is determined NOT by base pay, but by base pay PLUS overtime, sick pay, vacation and holiday pay, cost of living bonus, non-cash payments such as room and board, and some other stuff. That's right at the beginning, RSA 100-A:1, XVII. Employees work a lot of over time, and cash in all their accrued pay right before retirement to boost their pensions. Pensions ought to be on base pay ONLY.
It permits pension benefits of 100% of base pay. (RSA 100-A:6 a). That is twice what it ought to be. Pensions ought to half pay. If the pension pays as much as base pay, why not retire now?
It permits pensions be paid to employees with as little as three years of service!! (RAS 100-A:XVIII 1).
The pension department says this bill isn't going to save any money. This is a "note" toward the end.
The whole bill is too long, and has too much opaque verbiage in it. There has gotta be some expensive benefits hidden in the lawyerese. We shouldn't pass bills that cannot be understood.
It permits pension benefits of 100% of base pay. (RSA 100-A:6 a). That is twice what it ought to be. Pensions ought to half pay. If the pension pays as much as base pay, why not retire now?
It permits pensions be paid to employees with as little as three years of service!! (RAS 100-A:XVIII 1).
The pension department says this bill isn't going to save any money. This is a "note" toward the end.
The whole bill is too long, and has too much opaque verbiage in it. There has gotta be some expensive benefits hidden in the lawyerese. We shouldn't pass bills that cannot be understood.
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