Reinke Faces Life

http://www.washingtonpost.com/blogs/post-tech/post/fcc-commissioner-meredith-baker-to-join-comcast-nbc/2011/05/11/AFYfl1rG_blog.html?hpid=z3

Posted at 11:45 AM ET, 05/12/2011
FCC commissioner Meredith Baker to join Comcast-NBC
By Hayley Tsukayama
Updated 11:45 a.m., Thursday

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Federal Communications commissioner Meredith Attwell Baker announced Wednesday that she will resign from the FCC on June 3 and join Comcast-NBC Universal as its senior vice president of governmental affairs.

Baker, a Republican, joined the FCC in 2009 after working at the National Telecomunications and Information Administration under President George W. Bush. While at the NTIA, Baker oversaw a $1.5 billion coupon program to help consumers make the transition to digital-only television.

The commissioner’s announcement comes four months after she voted to approve a joint venture between Comcast and NBC Universal.

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Regulatory capture or just biz as usual.

Politicians and bureaucrats have NO shame!

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http://online.wsj.com/article/SB10001424052748703992704576307332105245012.html?mod=djemalertNEWS  

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Chief executives at the biggest U.S. companies saw their pay jump sharply in 2010, as boards rewarded them for strong profit and share-price growth with bigger bonuses and stock grants.

The median value of salaries, bonuses and long-term incentive awards for CEOs of 350 major companies surged 11% to $9.3 million, according to a study of proxy statements conducted for The Wall Street Journal by management consultancy Hay Group.

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Seems easy.

(1) No one should make more that the US Prez in base salary.

(2) All “highly paid execs” should receive bonus compensation in the form of a ladder 25 years non-transferable Corporate bonds.

(So that 9.3M$ would be 400k$ as base and 9.3M$/25=327k$. Year 2012: 327k$ bond, Year 2013: 327k$ bond, … Year 2036: 327k$ bond.)

Sure hope the company survives 25 years!

Think behavior — long term thinking — might change?

I bet it would take 30 minutes to change.

And we’d all be better off.

Now we should figure out how to do the same with politicians and bureaucrats!

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http://ncc-1776.org/tle2011/tle616-20110424-01.html

Letter from Richard Bartucci
Re: “Start with NASA” by Jim Davidson

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Can’t we take it much, much further? I’d like to draw to your attention a recent article by economist Thomas Sowell (see http://tinyurl.com/3w4cemr) titled “Another Spending Cut Plan,” in which he advises that the federal budget be cut by specifically zeroing-out the tax feeder programs most beloved of the Republican Party. He writes:

My plan would start by cutting off all government transfer payments to billionaires. Many, if not most, people are probably unaware that the government is handing out the taxpayers’ money to billionaires. But agricultural subsidies go to a number of billionaires. Very little goes to the ordinary farmer.

Big corporations also get big bucks from the government, not only in agricultural subsidies but also in the name of “green” policies, in the name of “alternative energy” policies, and in the name of whatever else will rationalize shoveling the taxpayers’ money out the door to whomever the administration designates, for its own political reasons.

The usual political counter-attacks against spending cuts will not work against this new kind of spending cut approach. How many heart-rending stories can the media run about billionaires who have lost their handouts from the taxpayers? How many tears will be shed if General Motors gets dumped off the gravy train?

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Sounds like a plan to me. Cut the dole. Start at the top!

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http://www.boston.com/bostonglobe/editorial_opinion/oped/articles/2011/04/24/faced_with_a_field_of_mediocrity/

Faced with a field of mediocrity
By Jeff Jacoby
Globe Columnist / April 24, 2011

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But Bryce’s key insight was that “the merits of a president are one thing and those of a candidate another thing.’’ The skills and smarts it takes to win the White House are very different from the talents and instincts that make a great chief executive. That was as true in 1888 as it is today.

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The Dead Old White Guys made many mistakes.

One of them was not to specifically outlaw central banking.

The other was to insist that the President come from the ranks of the State Governors.

But, how they could foresee that their Republic could be, would be, so perverted!

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Response from Senator Menendez

Dear Mr. Reinke:

Thank you for contacting me to express your concerns regarding the federal government’s debt limit. I appreciate hearing from you on this critical issue and having the opportunity to respond.

The national debt is the total amount of money borrowed in order to fulfill the requirements imposed by current and past Congresses and Presidents, during periods when both Republicans and Democrats were in control of different branches of government. These are legal obligations, and the responsibility for meeting the Nation’s obligations must be shared by both parties.

Raising the debt limit is necessary to allow the Treasury to meet obligations of the United States that have been established, authorized, and appropriated by Congress. Also, it is important to note that increasing the debt limit does not authorize a single penny of new spending— it only allows the government to pay bills already incurred.

If Congress fails to act before the debt limit is reached, the Treasury would default on the legal obligations of the United States, causing far more devastating damage to the economy than the financial crisis of 2008 and 2009. A few consequences of defaulting could be a substantial tax increase on all Americans, and the potential loss of millions of American jobs.

The Secretary of the Treasury, Timothy Geithner, said that because Treasuries represent the benchmark borrowing rate for all other sectors, default would raise all borrowing costs. Interest rates for state and local government, corporate and consumer borrowing, including home mortgage interest, would all rise sharply. Equity prices and home values would decline, reducing retirement savings and hurting the economic security of all Americans, leading to reductions in spending and investment, which would cause business failures on a significant scale. Additionally, payments on a broad range of benefits and other U.S. obligations would be discontinued, limited or adversely affected, such as military salaries and retirement benefits; Social Security and Medicare benefits; veterans benefits; and unemployment benefits to states.

I share your desire to see our country headed down a more sustainable fiscal path, and I am committed to making the tough choices that will reduce the gap between our commitments and our resources. I believe that reducing our deficit will require a balanced approach to spending cuts; reforming tax policies, such as closing corporate tax breaks that allow oil companies to avoid paying billions of dollars in taxes; and controlling health care costs. As your federal representative, I take very seriously my responsibility to work with colleagues on both sides of the aisle to enact sound fiscal policy that that invests in our future and protects the economic security our nation’s children.

Again, thank you for taking the time to express your thoughts on this important matter. Rest assured that I will keep your views in mind. I invite you to visit my website (http://menendez.senate.gov) to learn more about how I am standing up for New Jersey families in the United States Senate.

Senator Menendez

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Yea, I say don’t raise the “debt ceiling” and I get back “default”. No, not default. You have to cut the spending! Argh!

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http://cafehayek.com/2011/04/money-isnt-wealth.html

Money Isn’t Wealth
by DON BOUDREAUX on APRIL 20, 2011
in MYTHS AND FALLACIES,SEEN AND UNSEEN,TAXES

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Steve Landsburg – in his armchair or out of it – is brilliant, just brilliant. This post of Steve’s is a must-read.

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http://www.thebigquestions.com/2011/04/18/the-man-who-cant-be-taxed/

The Man Who Can’t Be Taxed
Published by Steve Landsburg on April 18, 2011
in Bad Reasoning, Current Events and Economics. 64 Comments

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Nothing makes my job easier than a journalist who writes about something interesting and gets it 100% wrong.

Thanks, then, to Elizabeth Lesly Stevens for her column in yesterday’s Bay Citizen. Stevens wants to tax the “idle rich”, her Exhibit A being Robert Kendrick, heir to the $84 million Schlage Lock Company fortune. According to Ms. Stevens, Mr. Kendrick appears to do pretty much nothing but park and re-park his four cars all day long. Taxing people like Mr. Kendrick, she says, has to be part of any solution to America’s fiscal crisis.

Here’s what Ms. Stevens misses: Assuming the facts are as she states them, it is quite literally impossible to raise revenue by taxing the likes of Mr. Kendrick. We could argue about whether it’s desirable, but because it’s impossible, the discussion is moot.

Here’s why it’s impossible: For the government to consume more goods and services, somebody else must consume fewer.

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Everyone has to go back to poor old Robinson Crusoe’s island where some kind of money is created — be it pretty seashells or giant totem poles.

Let’s assume for the sake of argument it’s Confederate States of America dollar — one fiat currency is as good as another. An let’s further assume that the price level has become stable over time, one CSA dollar trade for one fish. AND Ms. Stevens, who’s economic education is sorely lacking, steals all the CSA dollars. For her to consume more fish, someone has to consume less. The amount of CSA dollars she’s stolen is irrelevant.

Economics is the “dismal science” because it can’t make more fish. It does tell us that when any good is limited, that is fish, there are several ways the fish can be divided. Argh! The free market will, if allowed, “fairly” allocate that poor fish, but the money used to vote on it ain’t the fish.

Argh!

It’s so simple and yet so hard for liberals and some conservatives to grasp.

Money has real world consequences. Gooferment is the problem. And, politicians and bureaucrats are today’s high priests. At least, in the Aztec days, they had human sacrifice. But, I’ll be they didn’t use the politicians and bureaucrats!

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> April 25, 2011 10:25 PM
> Now the fun begins!
> http://www.nationaljournal.com/politics/ron-paul-launches-presidential-campaign-20110425

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> April 26, 2011 10:35 AM

> I think of all times this would be his best chance, except I think his age may get in the way. I know…didn’t stop Ronnie, but he had already proven himself. Should certainly be interesting though. :-)

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(1) Well, the “youngsters” have really screwed the pooch. And, the cow. And, the horse. And, just about every farm animal you can name.

(2) It may well be a game changer in forcing the debate to “Libertarian” topics.

(3) He may realize that it’s “hopeless” but is going to go down swinging.

(4) DNF the electorate and electoral calculus. ½ the folks don’t vote. If he can energize the Tea Party, and ½ of that ½ comes to the polls — Katie bar the door — the old political “wisdom” of “50% independent + 30% D’s + 20% R’s = election” is out with the trash. That “½ of a ½” swamps the “regular voters”. It’s what propelled Ike and Reagan to victory. The great “unwashed.”

(5) If he pick Michelle Bachman as his running mate, then he’s got a great chance to win. And, she’d be a shoe in to her own follow up run.

This country would be well on its way to the next 100 years of Pax America. I don’t see how we survive another 8 or 12 years of hack politicians.

I copied the usual suspects on this rant.

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MESSAGE TO CONGRESS CRITTERS:

Subject: Tell Congress to cut federal spending

Please cut federal spending.

Please do NOT raise the debt ceiling.

Very simple, just DON’T do it.

As a matter of fact, let’s start cutting the debt ceiling. How about cutting the debt ceiling 1% a year for the next 100 years?

Don’t saddle the future with our mistakes.

If you do, don’t plan on getting my vote. And, you’ll see me out actively opposing you. I realize I’m only one little guy, but I will vote and I will campaign.

fjr

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Dear Mr. Reinke:

   Thank you for contacting me about federal spending. I appreciate hearing from you on this important issue.

   I share your concerns about the deficit inherited by this Administration. I have been a strong advocate for balanced budgets throughout my career in the Senate. As the Ranking Member on the Senate Budget Committee at the time, I helped negotiate the “Balanced Budget Act of 1997,” which restored fiscal discipline to the federal government and ended years of deficits. These provisions eventually led to a federal budget surplus of $237 billion in 2000, the first period of budget surplus since 1969.

   However, when this President took office, we had record deficits because of the recession and eight years of unpaid-for wars, tax cuts for the wealthy, and expensive spending programs. I am proud to support efforts that will restore fiscal discipline and I voted in favor of legislation (P.L. 111-139) that requires any new federal spending to be offset. This bill was signed into law on February 12, 2010.

   Please be assured that I will continue to work with my Senate colleagues and President Obama to reduce the deficit and our national debt, and I will keep your concerns in mind as this issue receives further consideration by the Senate. Thank you again for contacting me.

FRL:MD

Sincerely,

Senator Frank R. Lautenberg

[JR: Non responsive. I asked about the debt ceiling. But, if you’re such a deficit hawk, then either you’re ineffective or corrupt. Couldn’t hold the line or were bought off. Either way, I’m not voting for you.]

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Waiting for the others to respond.

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http://commanderzero.com/?p=2230

PSA: Patriots’ Day

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Friendly reminder: Tuesday (April 19) is Patriots’ Day. There is but one ideal way to celebrate it and that is by going to the range and shooting a revolution-worthy firearm. What is a revolution-worthy firearm? If they were re-enacting ‘Red Dawn’ in your neighborhood, its the firearm you would take with you.

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I’d bring George and Martha. My pet names for a match pair of Colt 1911 .45’s.

Hard to shoot both at the same time. But, I’m sure there will be folks without.

The Second is about keeping the Gooferment in check; it’s not about hunting.

So what would you bring?

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