Government run by the reckless to serve the few

first_imgAnd isn’t it funny, as Alan Blinder, the former vice chairman of the Federal Reserve pointed out in the Wall Street Journal, that so many of the provisions — keeping intact “egregious loopholes for real estate developers,” generously treating “pass through” income, killing the alternative minimum tax, and being kind to heirs — just happen to be particularly good for a certain president of the United States (who claimed he was fighting for the little guy) and for his family.You might find it entertaining that Republicans had to keep rewriting their bill right up to the very last minute, as if they were college sophomores looking at a clock.Senate GOP leaders had to delay a vote and pull an all-nighter when the Senate’s own parliamentarian ruled that a “trigger” provision serving as a fig leaf for supposed deficit hawks was illegitimate.But there is nothing funny about capricious legislating on an artificial deadline created solely to escape accountability.Anyone who supported this bill is endorsing government for the few imposed by the reckless.E.J. Dionne Jr. is a nationally syndicated columnist.More from The Daily Gazette:EDITORIAL: Beware of voter intimidationEDITORIAL: Thruway tax unfair to working motoristsEDITORIAL: Find a way to get family members into nursing homesFoss: Should main downtown branch of the Schenectady County Public Library reopen?EDITORIAL: Urgent: Today is the last day to complete the census But the stakes in all these close shaves are relatively low.Not so with Republicans in Congress.They are reordering large parts of the American economy on the fly with little forethought and virtually no debate.True, legislating has been routinely compared with sausage making.It’s an activity you don’t want to watch too closely.But when Congress did truly big things in the past — the Affordable Care Act, the major tax cuts of the Ronald Reagan and George W. Bush eras, the tax increases under Bill Clinton and Barack Obama — there was serious discussion over an extended time.Debate and careful negotiation over tradeoffs in a genuinely bipartisan context was at the heart of the success of the last comprehensive tax reform in 1986. Isn’t there a near universal consensus that investing in the skills of our people and in research is the way to foster growth and future well-being?By tearing away the deductibility of state income and sales taxes, this legislative concoction could either plunge some of our largest states — California, New York and New Jersey among them — into fiscal crises, or force them to slash the help they give their lower income citizens.Does anyone of right mind believe this will be good for our economy, let alone for social justice?Ah, but these states are Democratic, so Republicans are happy to abuse their power to take a shot at their partisan opponents.Even defensible aspects of the bill have not been examined closely to see what impact they will have.For example, it limits the ability of businesses to deduct interest payments from their taxes. There is a case for preferring equity over debt.But I bet that no more than 5 percent of the lawmakers voting on this proposal have thought much about the subject one way or the other. By contrast, the GOP’s extravaganza this year is entirely partisan, full of breaks for favored interests and punishments for those the party regards as its political enemies. To call it “reform” is an affront to generations of good government advocates in both parties.Moreover, this tax monstrosity is so filled with gimmicks, carve-outs and penalties for various sectors of our economy that its impact will be far greater than the earlier Republican tax cuts of the 1980s and early 2000s.Those voting for it have given little thought to how it will affect many sectors of American life. This is exactly what its sponsors wanted. Scrutiny is this bill’s greatest foe.Besides pumping up already dangerous levels of economic inequality, the bill will add at least $1 trillion (and probably much more) to the debt at a moment when adding to deficits serves no useful economic purpose.This, in turn, could lead to interest rate increases that will dampen whatever positive effects the tax cuts in the bill (many of them temporary) will have on growth.It could undermine our system of higher education, which is one of the great prides of our country.What sense does it make to provide relief to heirs who did nothing to earn their inheritances other than be born while increasing taxes on graduate students whose incomes are already modest? Categories: Editorial, OpinionWASHINGTON — Students often leave term papers to the last minute.Repair folks frequently arrive at the far end of the time they promised.And some basketball players don’t turn it on until the fourth quarter.last_img read more

Police showed they had nothing to hide

first_imgIn your May 19 editorial [“Coincidence leads to suspicion”], which is critical of the way the Schenectady Police Department handled the arrest of one its officers for DWI, you close by stating the police ask the public to ignore their common sense. Common sense tells me that if the Schenectady Police Department was trying to hide something, the officer would not have been arrested in the first place. Michael EidensSchenectadyThe writer is the Public Safety commissioner and former County Court judge.  More from The Daily Gazette:EDITORIAL: Find a way to get family members into nursing homesSchenectady, Saratoga casinos say reopening has gone well; revenue down 30%Schenectady NAACP calls for school layoff freeze, reinstatement of positionsEDITORIAL: Beware of voter intimidationFoss: Should main downtown branch of the Schenectady County Public Library reopen? Categories: Letters to the Editor, Opinionlast_img read more

Retail demand for BTS’ label shares strong but falls short of expectations

first_imgBig Hit Entertainment, the management label for K-pop sensation BTS, saw robust but not spectacular demand in the first of two days of share offerings for retail investors, with sentiment hurt by increasing talk that the band’s members may have to complete military service.In South Korea, all able-bodied men aged 18 or above are obliged at some point to serve in the military for about 20 months.But there has also been discussion within parliament that the band, which has just become the first South Korean group to reach No.1 on the United States Billboard Hot 100 singles chart with the song “Dynamite”, could be granted an exemption as it has successfully promoted the country’s image abroad. Individual investors on Monday submitted orders for 89.6 times the amount of stock made available to them worth some 8.6 trillion won (US$7.4 billion), said lead arranger NH Investment & Securities.That is about half the value of bids made on a record first day of retail bids in the recent listing for South Korean game developer Kakao Games.“Demand is very strong, its just not as earth shattering as some had expected,” said Hwang Hyun-jun, an analyst at DB Financial Investment.With plenty of liquidity in the market, some analysts had predicted gross bids from retail investors could hit 100 trillion won ($85 billion).Offering about 20 percent of the company in its IPO, Big Hit Entertainment, led by CEO Bang Si-hyuk, is set to raise 962.6 billion won ($830 million). In the institutional portion of the offer, investors expressed interest in more than 1,000 times the number of shares on offer.The label is due to make its market debut on Oct. 15.Topics :last_img read more

New German pension pooling vehicle ‘not in high demand’

first_imgSimilarly, Stefan Oecking, partner in the retirement department at Mercer Germany, pointed out: “Companies have looked into this and seen that it is difficult to implement and now they are waiting for someone to make the first step.”Another obstacle to a wider use was also the fact that Germany does not have very advantageous tax regime for foreign asset pooling vehicles, meaning other countries were not introducing privileges for the German Investment KG, he explained.“But these questions may only become sufficiently answered once a pension scheme seeks to implement a multinational asset pooling solution,” noted his colleague Carl-Heinrich Kehr, principal in the investments department at Mercer Germany.Mahnert also pointed out for many German companies, there was little to no benefit in using the vehicle: “When it comes to asset pooling within Europe, a large proportion of pension assets are outside of Germany, so companies have to ask the question why it would make sense to pool foreign assets in Germany.”  Therefore, Oecking and Kehr agree, pooling of pension assets in a German Investment KG is “not anything that is high on companies’ agenda” at the moment. The new asset pooling vehicle, the Investment KG is “not something the market has been eagerly awaiting”, according to Sabine Mahnert, senior consultant at Towers Watson Germany, and may struggle to attract interest.Mahnert told IPE there had not been “that much demand” for the vehicle, legally a limited partnership, just over a year after it has been introduced by the new Kapitalanlagegesetzbuch (KAGB) – the legislation with which Germany implemented the EU’s Alternative Investment Fund Managers Directive (AIFMD).Jörg Ambrosius, senior vice president at State Street Germany, pointed out that the vehicle is “still very young” and it remains to be seen how the market will develop and how the new structure will be accepted.Ambrosius added while similar structures in other countries such as Ireland and Luxembourg were set up as segregated accounts, the German vehicle was structured as a Kapitalverwaltungsgesellschaft (KVG), which involved a paper-heavy registration process with the BaFin.last_img read more

DOAM work towards development of a sustainable food system in Dominica.

first_imgLocalNews DOAM work towards development of a sustainable food system in Dominica. by: – May 16, 2011 Tweet Share Share 6 Views   no discussionscenter_img Sharing is caring! Share Agricultural produce featured at the Roseau Market. Photo credit: clemson.eduDetails of a draft strategic plan for the Dominica Organic Agriculture Movement DOAM will be top on the agenda, when the organization holds its Annual General Meeting this morning.The meeting comprises two parts, a presentation by Tony Kleese, Consultant / DOAM Board member from the US on “Understanding Sustainable Food Systems” .Tony will share his 21 years of experience working in sustainable food systems in the southeastern US as well as discuss the seven components of a food system, sustainability as it relates to agriculture, and how Dominica can move towards a sustainable food system.The members of DOAM are also working towards the development of a sustainable food system in Dominica.Effort to encourage more active participation in the development of the organization will also be addressed.It is expected to commence from 10: am at the Fort Young Hotel.Dominica Vibes Newslast_img read more


first_imgFloyd C. Gesell, age 91, of Brookville, Indiana died Tuesday, April 25, 2017 at Mercy Hospital in Fairfield, Ohio.Born September 24, 1925 in Franklin County, Indiana he was the son of the late Luther & Mae Frances (Blackburn) Gesell. He was a U.S. Army Veteran of World War II, having served with Company H of the 37TH Infantry.He was a member of St. Thomas Lutheran Church, as well as the Harmony Masonic Lodge #11 F. & A.M. in Brookville.Floyd was retired from the former Ford/Visteon in Connersville where he had worked for many years.Survivors include his wife, Rosina Tarvin Gesell, whom he married June 10, 1998; a daughter, Susan (Michael) Bailey of Milton, Indiana; three step-children, Greg (Susie) Tarvin of Corbin, Kentucky, Martha Ann (Earl) Stenger of Brookville, Indiana, Troy (Lisa) Tarvin of Connersville, Indiana; a brother, Robert (Rita) Gesell of St. Leon, Indiana; as well as several step-grandchildren and step great-grandchildren.In addition to his parents, he was preceded in death by his first wife, Ruth Gesell who died in 1994; two grandchildren, Jesse Bailey & Thomas Bailey; four sisters, Lorene Feller, Virginia Tebbe, Joann Lake and Sylvia Lunsford; three brothers, Merlin Gesell, Donald Gesell, and Orville Gesell; and a step-son, Tom Tarvin.Rev. Ladona Webb, Pastor of St. Thomas Lutheran Church, will officiate the Funeral Services on Thursday, April 27, 2017, 11:00 A.M. at Phillips & Meyers Funeral Home in Brookville. Burial with full military graveside honors by the Bernard Hurst Post #77 of the American Legion will follow in Maple Grove Cemetery in Brookville.Family & friends may visit from 9:00 A.M. until the time of the services at 11:00 A.M. on Thursday, April 27, 2017 at Phillips & Meyers Funeral Home, 1025 Franklin Avenue, Brookville.Memorial contributions may be directed to St. Thomas Lutheran Church. Phillips & Meyers Funeral Home is honored to serve the Gesell family, to sign the online guest book or send personal condolences please visit .last_img read more

Bulldogs Swimming Results At Shelbyville

first_imgBatesville Swimming remained competitive in a tight double dual competition at Shelbyville High School on Thursday night. The girls team came out on top against Eastern Hancock (56-38) but fell short against Shelbyville (53-47).The boys dropped both decisions 86-14 against Shelbyville and 64-24 against Eastern Hancock.“I’m extremely proud of the way the team is competing.” Coach McMullen said, “Everyone has been working hard in practice, including being pushed to the edge of their comfort zones. It’s paying off and we’ve been getting great results. Tonight included 15 individual season-best times with at least one life-time best. I couldn’t be prouder.”Individual event winners:  Kate Poltrack, 200 Free; Allison Storms, 200 IM; 200 Free Relay (Storms, Jenna Ertel, Sonja Gaulin, Daulton); Ashley Daulton, 100 Back; Audra Brewer, 100 Breast.Batesville will be participating in the Shelbyville Relay Invitation on Saturday, December 9.last_img read more

That Assam batch was excellent: Sanath Kumar

first_imgOur Sports ReporterGUWAHATI: After suffering from stroke recently he is now in recovery stage and is expecting to return into the ground very soon. Sanath Kumar, the former coach of Assam who guided Gokul Sharma and his team into the semifinal of Ranji Trophy, shared his memories involving State players during a conversation with the local media.Q: How are you now?Sanath: I am recovering well and started walking with support. Hope to return into the ground soon.Q: You have lot of memories with Assam…Sanath: Yes. I love to work with the boys of Assam. There is a lot of talent.Q: Share your experience to work with Assam’s players.Santah: I worked with the players like Krishna, Arup, Sarupam, Gokul, Tarjinder…That was an excellent batch and the players were very much eager to learn and deliver it into the ground.Q: You managed to bring consistency in the team. How did you make it possible?Sanath: My theory is very simple. I always back the players. I keep believe in their attitude and commitment. Also give them freedom.Q: Your suggestion to take cricket in Assam to next level…Sanath: System should always be upgraded. You need at least five good grounds in and around Guwahati. At the same time you also need to create good infrastructure for indoor practice.Also Read: Rs 2.5 mn, house, job for children of slain Kerala trooperAlso Watch: War against COVID-19: Assam Health Department signs 22 MoUs with private hospitals in Silcharlast_img read more

Falode NWFL Set to Evolve into a Global League Brand

first_imgFalode in her opening speech at the online training programme on Monday, expressed her gratitude to LaLiga, most especially to Pedro Malabia, Head of La Liga Women Football and the entire LaLiga team for their help and commitment making the training programme a reality.She noted: “The NWFL began in 1990 and its 30 years in 2020. One of the best ways to celebrate is to improve the quality of play in our clubs. That is to play beautiful, modern and progressive brands of football that will help develop quality of the league and attract more fans to the clubs.“We have a mandate at the NWFL, to evolve into a global league brand that can stand shoulder-to-shoulder with some of Europe’s best. It requires a lot of work and you coaches are a very big part of making that vision a reality.Technical development of the league is a very important part of our plan to evolve the NWFL. As the NWFL evolves, the coaches too must evolve.”She added that: “We have therefore taken this first step to help broaden the knowledge of our coaches and open the door to a wide range of opportunities for them to further develop themselves.Falode, who is also a board member of the Nigeria Football Federation, stressed that, the coaches must take up the responsibility to improve themselves and their teams, so as to improve the quality of play as well as their professionalism. IN the long run, this will reward the fans with good football and talent development. And together we can deliver the NWFL of our dreams.Meanwhile, Pedro Malabia, Head of La Liga Women Football in his address stated that, Laliga started working with women football in 2015.“There is big potential in Africa and Nigeria is one of the leading countries for women football in Africa and LaLiga is lucky to have the partnership with the Nigeria Women Football League.“I can remember clearly when Aisha Falode and Timi came to Spain two years ago if I remember correctly, the passion, energy and dedication was very visible.“Because we have the same vision, we signed the MoU with the NWFL to develop women football in Nigeria and in Spain.“Of course I want to thank my team in LaLiga Women Football Department and also Global Networks and International Development.”The online Master classes training which started on Monday, with the theme “The Competitive Micro-cycle and Training Session Structure In Elite Women’s Football” will be concluded today.The presentations on Wednesday will be delivered by Oscar Suarez, the Sports Project Specialist at LaLiga, with the aim of providing coaches from the NWFL the opportunity to expand their knowledge on LaLiga women’s football coaching methodology and obtain their participation certificate. The duration of today’s training programme will be 60 minutes.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram The Head of the Management Committee of the Nigeria Women Football League, Aisha Falode, has affirmed that, the women’s league body has the mandate to evolve into a global league brand, capable of competing favourably with top women’s leagues across the world.Falode, said this at the NWFL-LaLiga Coaches Online Training Masterclass aimed at taking coaches in the various women’s clubs in Nigeria to greater heights.The training programme in partnership with Spanish LaLiga is a step further in the development of the women’s game with the LaLiga women’s league, one of the activation points of the MoU signed in 2018 between the NWFL and LaLiga.last_img read more

Cinderella story?

first_imgSolochek: At the end of each NCAA tournament, we get to see what made the “One Shining Moment” montage, which combines some of the best moment of the weeks that are March Madness.This year, March has not been that maddening. Of the 16 teams left in the tournament, all of the No. 1 through No. 3 seeds remain in the tournament. Two out of the four No. 4 seeds will play in the Sweet 16 as well.With the proverbial clock having already struck midnight on Cinderella, what game or moment would make the 2009 tournament’s “One Shining Moment?”There is no doubt the best part of the tournament has been No. 13 seed Cleveland State’s upset of No. 4 seed Wake Forest. While there may have been a nine seed difference between the two teams, the Vikings sure did not play like it. They demolished the Demon Deacons 84-69, making them the lowest seed to advance past the first round.Although Cleveland State’s win over Wake Forest may have busted many brackets, it should not have been that much of a surprise to those who actually looked at the schedule. They finished second in the Horizon League to Butler, which the Vikings defeated to win the Horizon League Tournament championship. They also had a quality win over Syracuse earlier in the season.With their win over Wake Forest, however, they became the George Mason’s of this tournament for a few days. But, their 71-57 loss to Arizona in the second round ended their brief run.Despite their early exit, at least for now, Cleveland State will continue to ‘shine’ as this year’s Cinderella.Braun: Vikings, Shmikings. Like every other year, this NCAA Tournament featured some huge upsets and surprises, and while Cleveland State definitely fits into that category, I wouldn’t dare call the Vikings a Cinderella.On the other hand, if you look at the team just one seed higher in the same bracket, No. 12 Arizona, there lies your big surprise of the tournament.The Wildcats were shunned by many going into the big dance, with countless analysts claiming they had no place in the NCAA Tournament — and those critics had a bit of a case.Near the end of their Pac 10 season, the Wildcats lost five of their last six games, four of which were to teams that received NCAA Tournament bids. That wasn’t exactly the best way for a team on the bubble to build its r?sum?, especially one that plays in a mediocre conference like the Pac 10.But here the Wildcats are, in the Sweet 16, having dominated two teams including No. 5 seed Utah, which won the Mountain West Conference Tournament in commanding fashion before the NCAA Tournament started.Moreover, Ben, the Wildcats trumped that “Cinderella” team you dubbed, the Cleveland State Vikings, with seeming ease.So now, with a third-round match against top seed Louisville, it seems unlikely the Wildcats will be able to continue to turn any more heads. But if they do, they’ll be able to boast about being the real Cinderella of this tournament that hasn’t really had all that many surprises to date.While Cleveland State’s win over Wake Forest may have ruined my bracket, it doesn’t mean the Vikings have shined as this year’s Cinderella. The team with the real glass slippers is still playing and has a chance to make midnight strike this Friday in Indianapolis.last_img read more