The average cow produces 8 gallons of milk in a day.
A hen will lay an egg a day. A hen will continue to lay an egg a day until it amasses a "clutch" of between 3 and 4 eggs in its nest.
It takes 20 acres of land to produce the amount of food the average American eats in a year.
(Inspired by Fundies in Colorado trying to give fertilized eggs the same rights as people.)
If every blastocyst is a person...
then there's one thing we must do.
We must require every woman capable of bearing children in America to report each month for a pregnancy test.
Or, as the GOP loves it, Work = Bad, Wealth = Good.
In America, if you are a hedge fund manager making $100,000,000 then you pay a 15% tax rate, since your "income" is labeled as "carried interest", and categorized as capital gains.
In America, if you are a working single person making $50,000 you pay 25% marginal tax rate. Plus 6.5% in FICA tax, plus 1.5% in Medicare Tax. Plus whatever your state income tax rate happens to be (in Colorado where I live its around 4.5%). For, roughly, a grand total of 37.5% of your income going to taxes.
x-posted from SquareState
After all the tap dancing they've been doing for, well, forever, the GOP let the booze flow early this Friday, and gave the kiddies the keys to the House Energy and Commerce Committee Republicans website.
One can only assume that this post today was an attempt at humor, using well known Republican C. Montgomery Burns:
Republican Senate hopeful Montgomery Burns today joined with Mayor Joe Quimby, D-Springfield, to support the Senate's gazillion-dollar SCHIP bill.
"If the poor children can get a piece of the action, why can't I?" explained Burns at a MoveOn.org rally in Capital City. "The little darlings are needy? Me, too. I need somebody to pay. Quimby here says he knows a bunch of low-income nobodies who are ripe for the picking. Excellent."
The "funny" conintues below...
I've been following the Mortgage Meltdown quite closely, and have posted things here on days when I wanted to hear from the Kossack Community.
Today is another one of those days. While I'm no Warren Buffet, I consider myself a novice chart reader. And to me, there's nothing but more trouble once you look at this graph:
I guess this would be third installment in my series of the coming subprime mortgage meltdown occurring in the U.S. economy. Part I is here, Part II is here.
As my new favorite blog Calculated Risk is covering so well, Bear Stearns (BSC), the Collateralized Debt Obligation "kings", held a conference call this afternoon with investors to discuss the collapsing value of their "funds" invested in subprime mortgages. Turns out they've lost 91% of their value!
Calculated Risk is my new favorite blog.
They informed me that:
July 10 (Bloomberg) -- Moody's Investors Service lowered the credit ratings on $5.2 billion of bonds backed by subprime mortgages and Standard & Poor's said it may cut $12 billion of securities after criticism they waited too long to respond to rising home-loan defaults.
Moody's cut ratings on 399 bonds issued in 2006 and said it may reduce rankings on another 32. S&P is preparing to lower the ratings on 2.1 percent of the $565.3 billion of subprime bonds issued from late 2005 through 2006, citing a deepening housing slump. U.S. Treasuries rose, the dollar slumped and financial company shares led stocks lower.
When this news hit the market today at around 1:30 ET, Dow dropped sharply, ending down 100 points.
My new favorite blog is Calculated Risk.
They quote the Wall Street Journal:
Investors received a letter earlier this week from Braddock Financial Corp. of Denver. It said it was closing its Galena Street Fund, which mainly invests in bonds backed by subprime mortgages extended to borrowers with poor credit, and suspending redemptions until it can sell assets in the roughly $300 million fund.
Is Colorado just the next victim of the Subprime Mortgage pinch?
I know this is mind numbing economics stuff, but as Calculated Risk documents on a daily basis, there's a huge sector of our economy that's teatering on the brink of a disaster comparable to the S&L bailouts of Bush I.
Yup, the "terrorist" got sentenced the other day to 5 years in prison!
From the 6/30/07 DesMoines Register (h/t to Fark):
DAVENPORT -- A Detroit man was sentenced to five years in prison Friday for trying to burn down a women's health clinic that he mistakenly thought performed abortions.
David McMenemy, 46, pleaded guilty in January to arson against a business affecting interstate commerce. He could have been sentenced up to 20 years in prison.
Police said McMenemy drove to Davenport and crashed his car into the Edgerton Women's Health Care Center lobby at 4:30 a.m. on Sept. 11. He then lit a Gatorade bottle filled with gasoline on fire, walked away from his car and surrendered to firefighters.
Hmmm... where have I heard a story like that before???
Two men rammed the Jeep into the airport entrance, shattering the glass doors and igniting a raging fire.
Can I take my vote back from yesterday’s "do you approve of Congress" vote?
If the Democrats can get Bush to veto this piece of legislation (via Yahoo), they'll have my confidence once again:
WASHINGTON (Reuters) - Democrats in the U.S. House of Representatives introduced a bill on Friday that would more than double taxes on the pay of managers of private equity funds, hedge funds and other investment partnerships.
Throwing down a challenge to some of the nation's savviest and richest financiers, the bill would set a higher tax rate for "carried interest," the 20-percent cut of profits beyond targeted returns typically kept by senior managers of private equity firms and other firms on major transactions.
So what does all this mean? Turns out these Private Equity Firms (a la Blackstone and the Carlye Group) don't report their income as income, but as capital gains. Income is taxed at 35%, capital gains is taxed at 15%
Could the wave of Ron Paul enthusiasm actually be transforming in to political support?
From the Utah Republican Party website (with a big ol' hat-tip to marshall over at Wasatch Watcher).
Utah Presidential Straw Poll Results
2nd - Ron Paul 84 (5.66%)
3rd - Rudy Giuliani 63 (4.25%)
4th - John McCain 58 (3.91%)
5th - Tom Tancredo 23 (1.55%)
6th - Tommy Thompson 17 (1.15%)
7th - Mike Huckabee 14 (0.94%)
8th - Duncan Hunter 12 (0.81%)
9th - Sam Brownback 11 (0.74%)
I'll let you guess who got first with 80.98% of the vote.
As 300spartansgym noted today, Colorado Governor (and Democrat) Bill Ritter signed HB 1355. The law will now prevent "insurance companies from penalizing small businesses if employees or their families have been sick."
It's almost pathetic the public must affirm such things, and highlights yet again the unbelievable inequity of power between us little guys and them corporations.
But we all most bow down to "judicial precedence". All hail (among others) the 1886 Supreme Court decision in Santa Clara County v. Southern Pacific Railroad declaring corporations are entitled to the same rights as actual human beings in the Fourteenth Amendment.
But it wasn't always this way.