News

Wall Street Journal article complaining about new tax increases on "families"

So the WSJ is actually publishing an article complaining about how the taxes that got increased actually apply to more than the wealthiest 1%.  Specifically they are complaining about several increases to “families” making $250,000+ and are actually making them out to be hidden:

“So, a couple with three children and adjusted gross income of $300,000 or more will lose some or all of their $19,500 exemption.”  [referring to exemptions per household member]

and

“The other new provision is a complex limitation on all itemized deductions—including charitable donations and mortgage interest—that will eliminate up to 80% of deductions for taxpayers above the $250,000/$300,000 income thresholds.”

Excuse me if I am supposed to be bothered by this…  If your AGI is more than $300,000 a year you aren’t really a “family” that is hurting at the moment.  Maybe they should look at the number of people that can barely make their mortgage or are working 2 or 3 jobs to make ends meet?

Even worse then end with this:

The overall result is that, for many families, 2013 tax rates won’t be as advertised. While a retired couple with $180,000 of income and $25,000 of deductions could see no change in their federal tax next year, a single parent of two children earning $260,000 with $30,000 of deductions could see a $3,300 increase.

The way I see it that is EXACTLY how it should be working out and that $3,300 increase is negligible to that single parent.  Seems like much whining for nothing.

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A Message by George Carlin

There a great number of people that have had wise words and insights over the years.  Besides prominent leaders such as the religious figures, politicians, and philosophers, there are creative artists that are able to craft their words and share equally powerful thoughts and ideas.  The problem is that often their words are not heard as they lack the prominence of the others.  Occasionally, one gets around this problem by becoming famous.  George Carlin was one of these people, and yet his writings are often overlooked by people who only remember him for his (outstanding) comedy.  I now share with you, one of his writings.

Compassionate Critters

In a recent study, psychologists sought to find out if a rat would assist another rat that was trapped in a confined box.  They tested it in various situations including ones where the rats were not united after being freed.  They found that the the rescue would be done quickly regardless of the reward.  They also found that, when the savior was given chocolate pieces, the saving rat would keep at least one piece of chocolate around for the rescued rat.

The conclusion?  Rats are empathetic and that there is reward in doing good things.
http://www.washingtonpost.com/national/health-science/a-new-model-of-empathy-the-rat/2011/12/08/gIQAAx0jfO_story.html 

FDA recalls drug after 5 years of side-effects and approval without testing.

This is really scary, and yet not surprising.   Apparently the FDA approved a generic version of Wellbutrine XL 5 years ago.  This generic version came in both 150mg and 300mg versions.  Immediately after patients started to use the generic version of this popular drug, complaints of side-effects and ineffectiveness started rolling in for the 300mg version.  Turns out the FDA did not test the 300mg version and just approved it based on assumptions from the 150mg which was tested.  It took them 5 years (!) to then follow up on complaints and do their own study which found the drug ineffective.  It then took them another 5 months to do a press release and recall the drug.

http://www.forbes.com/sites/davidmaris/2012/10/10/fda-recall-points-to-serious-problems-at-the-fda/