Dear James, Daniel and Emily
An interesting weekend. I went over to Forrest's house Friday night to watch the first Debate, then spent the rest of the evening talking about it. Saturday as there was no soccer game I kind of relaxed in the morning, then went and got an oil change then took the kids to the park for a while, then home for more relaxation. Sunday we got most of the birthday shopping done for James, and watched the Broncos game.
The debate was interesting. My personal take was that there were no game changers, no gaffes or mistakes. And that because of that, since this was the debate where the focus was on McCain's supposed strong point, foreign policy, that Obama came out of it a winner. And that has pretty much been the consensus of the pundits since then.
The failure of the latest bail out plan yesterday really wasn't that surprising to me. We really have a perfect storm right now of bad things coming to a head at the same time. You have the economic chickens of several years of bad policies (Democrat and Republican to be honest) coming home to roost. And you have this happening less than 2 months before a general election so partisan electoral politics have come into play. And last you have all of this happening at the current height of the new media environment, full of bloggers, and everyone on the earth sharing their opinions like a gigantic open air convention. So this has become an overly politicized nightmare compounded by massive media attention and the short attention span of the electorate. So I am doing my best to keep a level head, and not panic. And realize that financial panics <> Great Depression. The world is not coming to an end, there are options and safeguards in place. And the best thing to do is to keep your eyes on tomorrow, especially when making electoral choices.
Monday, September 29, 2008
Friday, September 26, 2008
Weekend Plans & Misc. thoughts
Dear James, Daniel and Emily
Well here it is Friday afternoon and I face on of the last remaining weekends of the fall where I don't have plans. James' soccer team has a bye this week so no game. And not birthdays or other, similar, activities. I will take the van in for an oil change, but other than that, nothing big planned.
So I will be watching The Debate tonight at Forrest's house with the gaming group. Should be interesting, most of the group is pretty liberal Obama supporters so the discussion might not be too exciting. But there will probably be a fair amount of contention. I have to say that following the election has given me a sense of excitement I haven't felt in a long time. In many ways it has helped replace my normal sports fanaticism, which is a good thing I think. And it has been fun dredging up the occasional piece of Poli Sci knowledge from all those years ago.
So I managed to get Google Chrome loaded on my PC here at work, and boy does it sing! I thought I noticed a difference at home, but I don't do a lot of browsing there. But here, where I do a lot of browsing, it makes a big big difference. I am definitely a big fan.
Facebook has been pretty cool this week. A lot of new Friends, mostly folks from CSS, older than me by a few years, but still recognizable. Lots of fun, especially since some of them have taken the time to scan in a number of photos. Bringing back a number of photos.
Well here it is Friday afternoon and I face on of the last remaining weekends of the fall where I don't have plans. James' soccer team has a bye this week so no game. And not birthdays or other, similar, activities. I will take the van in for an oil change, but other than that, nothing big planned.
So I will be watching The Debate tonight at Forrest's house with the gaming group. Should be interesting, most of the group is pretty liberal Obama supporters so the discussion might not be too exciting. But there will probably be a fair amount of contention. I have to say that following the election has given me a sense of excitement I haven't felt in a long time. In many ways it has helped replace my normal sports fanaticism, which is a good thing I think. And it has been fun dredging up the occasional piece of Poli Sci knowledge from all those years ago.
So I managed to get Google Chrome loaded on my PC here at work, and boy does it sing! I thought I noticed a difference at home, but I don't do a lot of browsing there. But here, where I do a lot of browsing, it makes a big big difference. I am definitely a big fan.
Facebook has been pretty cool this week. A lot of new Friends, mostly folks from CSS, older than me by a few years, but still recognizable. Lots of fun, especially since some of them have taken the time to scan in a number of photos. Bringing back a number of photos.
Wednesday, September 24, 2008
Garrison Keillor, Where is the outrage? | Salon
Garrison Keillor, Where is the outrage? | Salon
Dear James, Daniel and Emily
Just an excellent piece of writing, classic political Op-Ed work, too bad people like Coulter and Malkin or even Thomas Sowell can't write like this. There was a time when the Op Ed page was filled with people who could write like this, not any more. Kinda sad really.
Dear James, Daniel and Emily
Just an excellent piece of writing, classic political Op-Ed work, too bad people like Coulter and Malkin or even Thomas Sowell can't write like this. There was a time when the Op Ed page was filled with people who could write like this, not any more. Kinda sad really.
Tuesday, September 23, 2008
Bail Out
So the more I read about the proposed Bail out plan, as well as the general idea of a bail out the angrier I get. Here are a couple of non-partisan analysis links:
Brookings summary
An excellent, non-partisan analysis of the bail out plan as well as a different tack for resolving the issue.
Tax Policy analysis
http://taxvox.taxpolicycenter.org/blog/_archives/2008/9/22/3895934.html
Another non-partisan look at the bail out and the potential consequences and problems.
Here's the thing that angers me. Number one, this whole thing is so messy and complex that there is more than enough blame to share for both of the major parties. And that includes both major party candidates. In fact the only person who can get away with saying: "I wasn't there, you can't blame me" is Palin. Unfortunately, because this is happening at the peak of the electoral cycle it has become a major political issue. Which means that anything that Congress does will get tainted by the election. Which means pandering, pandering to special interests, pandering to the general electorate etc.
Unfortunately our government (which means a lame duck President as well as Congress) is stuck between a rock and a hard place. Something has to be done, pretty much all of the sides agree on that. The government cannot just sit by and do nothing, because the chances are seriously overwhelming that something very bad will happen to the economy. The problem is how much can Congress get away with as far as fixing the real problem (lack of regulation and oversight) in order to avoid this happening again. Because the chances that Congress and the new President have of scrapping what is done now and doing it differently are probably nil.
Where my anger comes in is that like the various 'War on Terror' bills and actions that were pushed through in the wake of 9/11 and are still getting pushed through (FISA bill anyone?), this has the potential to really screw things up. And because this is an election cycle, and the rhetoric is flowing fast and deep, there is a tremendous sense of urgency to 'do something'. And that something could end up making matters much much worse. I really think that the voices that are screaming out to Congress: "hey, wait a minute, take some time on this, do it right, don't blow your chance to enact some real reform" need to be heard. But I think those voices are kind of like the voices that were shouting: "hey, Iraq <> Al Qaeda, stick to Afghanistan and the Taliban, and while you are at it, let's not start breaking the Constitutional freedoms in the name of National Security" back in 2002, and the 'sense of urgency' we feel now will drown them out now like they did back then.
So make your voices heard if you can, tell Congress to not just bend over and give the Executive a blank check to fix this problem unconditionally. This is a crucial moment, akin to 1929, only this time instead of a do nothing President and Congress, we have a corporate owned President and Congress that is under the sway of the moneyed interests that threaten to act like a parent who bails their kid out of jail after a DUI, then gives them the keys to the car with a stern verbal warning to 'Never do that again'.
Monday, September 22, 2008
Weekend Recap
Dear James, Daniel and Emily
So a busy 3 day weekend. Well 2 days were busy, the first one I spent doing pretty much nothing except hanging around the house playing Civilization 4 on the computer while the kids played. But Saturday was pretty full with James' soccer, then we took an afternoon trip to Cripple Creek, then a quiet evening. Then Sunday we got the house cleaned then hosted a birthday party for Connie. The new approach to football has been holding pretty consistent so far.
So I bought a copy of Civilization IV with some bonus money from work, and I have to say that I really enjoy it. It is just different enough from the previous versions that it is really fun to play, and a real good change. Unfortunately it is just as addictive so I will have to temper my playing time.
We had a decent trip up to the hills, got some nice pictures of the aspen's turning. Kim got a digital photo frame, which was nice. Although it's clock feature doesn't really work. It is quite cool for pictures, all I have to do is get a nice little thumb drive for it and it should be a fun little toy for parties.
Sunday we used the clean up for the party as an excuse to do a little reorganizing in the kitchen and were still able to get the major cleaning done. The party went well, Connie really enjoyed herself. And we were able to pull off her big present. Earlier I had mentioned that Mom had given me her old iMac for testing, well in actuality the plan was for me to decide which computer I liked, plus which one I thought would work best for Connie. Then give her the other one. Which turned out to be our old PC. So I can set her up as an Admin user, install the accounting software she wants, and then help her get connected to the Internet once she calls the cable company. She was quite happy. And our neighbors just happened to be selling an old computer desk which happens to be the perfect size for her living room so we were able to pick that up and give that to her as well.
So again, a good, fun weekend, lots of relaxation time. Refeshing the body and mind. Now it is down to the wire for the birthday month of October staring us in the face.
So a busy 3 day weekend. Well 2 days were busy, the first one I spent doing pretty much nothing except hanging around the house playing Civilization 4 on the computer while the kids played. But Saturday was pretty full with James' soccer, then we took an afternoon trip to Cripple Creek, then a quiet evening. Then Sunday we got the house cleaned then hosted a birthday party for Connie. The new approach to football has been holding pretty consistent so far.
So I bought a copy of Civilization IV with some bonus money from work, and I have to say that I really enjoy it. It is just different enough from the previous versions that it is really fun to play, and a real good change. Unfortunately it is just as addictive so I will have to temper my playing time.
We had a decent trip up to the hills, got some nice pictures of the aspen's turning. Kim got a digital photo frame, which was nice. Although it's clock feature doesn't really work. It is quite cool for pictures, all I have to do is get a nice little thumb drive for it and it should be a fun little toy for parties.
Sunday we used the clean up for the party as an excuse to do a little reorganizing in the kitchen and were still able to get the major cleaning done. The party went well, Connie really enjoyed herself. And we were able to pull off her big present. Earlier I had mentioned that Mom had given me her old iMac for testing, well in actuality the plan was for me to decide which computer I liked, plus which one I thought would work best for Connie. Then give her the other one. Which turned out to be our old PC. So I can set her up as an Admin user, install the accounting software she wants, and then help her get connected to the Internet once she calls the cable company. She was quite happy. And our neighbors just happened to be selling an old computer desk which happens to be the perfect size for her living room so we were able to pick that up and give that to her as well.
So again, a good, fun weekend, lots of relaxation time. Refeshing the body and mind. Now it is down to the wire for the birthday month of October staring us in the face.
Friday, September 19, 2008
Happy Birthday Connie!
Happy Birthday Connie
A man couldn't ask for a better, more selfless Mother in law, or better grandma. So for all you do, and that is an awful lot, and for all that you have sacrificed over the years, we all wish you a happy happy birthday.
Thursday, September 18, 2008
Thomas Sowell is dead to me
Thomas Sowell :: Townhall.com :: Idols of Crowds
Dear James, Daniel and Emily
There was a time when I really enjoyed his columns. And even as my politics changed I still respected his ideas and his writing always appealed to me. However this column is so ridiculous and obnoxious that I had to say something about it. Equating Barrack Obama with Adolf Hitler, and also somehow with Neville Chamberlain, in the same column, that is just so ridiculous. I might expect this from Ann Coulter or maybe even Michelle Malkin, but not from Sowell... Oh well, I guess it goes to show that even smart people can get caught in a logical trap.
Dear James, Daniel and Emily
There was a time when I really enjoyed his columns. And even as my politics changed I still respected his ideas and his writing always appealed to me. However this column is so ridiculous and obnoxious that I had to say something about it. Equating Barrack Obama with Adolf Hitler, and also somehow with Neville Chamberlain, in the same column, that is just so ridiculous. I might expect this from Ann Coulter or maybe even Michelle Malkin, but not from Sowell... Oh well, I guess it goes to show that even smart people can get caught in a logical trap.
Wednesday, September 17, 2008
ED in 08 | Strong American Schools: Making Education a Priority -- Get the Facts
ED in 08 | Strong American Schools: Making Education a Priority -- Get the Facts
Dear James, Daniel and Emily
I found this group while researching the 2 Presidential candidates ideas on education. And let me tell you I am very impressed by their ideas and their points. This is a big big deal. Obviously I came from a family of educators, so I am a little biased, but I think this is very important. It is one of the things your mom and I strongly agree on: education and school work.
So I am posting this link, hoping people read it. And I will spread the word about the organization and movement as best I can. Kim & I are gradually becoming more involved with your school and doing more as you get older as far as your education. And I can only hope that this groups goals take root in this country adn that we see real improvement.
Dear James, Daniel and Emily
I found this group while researching the 2 Presidential candidates ideas on education. And let me tell you I am very impressed by their ideas and their points. This is a big big deal. Obviously I came from a family of educators, so I am a little biased, but I think this is very important. It is one of the things your mom and I strongly agree on: education and school work.
So I am posting this link, hoping people read it. And I will spread the word about the organization and movement as best I can. Kim & I are gradually becoming more involved with your school and doing more as you get older as far as your education. And I can only hope that this groups goals take root in this country adn that we see real improvement.
Tuesday, September 16, 2008
More Presidential Tax plan discussion
A fascinating graphical analysis between the candidates plans.
Really it comes down to this very important question: who do you think should pay taxes, and what share should they pay? While there is always a debate over 'fairness' I think what is more important is to realize that 'fair' doesn't really enter our cultural beliefs. Our cultural belief about taxes has been for pretty much 100 years that the 'rich' should bear a higher burden, not proportional. And here is the rest of it.
Really it comes down to this very important question: who do you think should pay taxes, and what share should they pay? While there is always a debate over 'fairness' I think what is more important is to realize that 'fair' doesn't really enter our cultural beliefs. Our cultural belief about taxes has been for pretty much 100 years that the 'rich' should bear a higher burden, not proportional. And here is the rest of it.
Stock Market Meltdowns - Why they will happen again and again and again « blog maverick
Mark Cuban wieghs in on the currentFinancial market problems
Cuban as always has an interesting perspective, since he is at the leve of these high power CEO's he is criticizing.
And I think his point is valid. I think his law might not be out of the question at some level. Honestly, these high power CEO's are not exactly feeling any pain when they run these companies into the ground. And there should be some pain for doing so. I know it goes against the very concept of incorporation, which is a bed rock of the economy, but that concept was meant to protect ordinary employees and investors. It was not intended to shield these high flying bosses who run their companies into the ground, then get PowerBall level payoffs.
Cuban as always has an interesting perspective, since he is at the leve of these high power CEO's he is criticizing.
And I think his point is valid. I think his law might not be out of the question at some level. Honestly, these high power CEO's are not exactly feeling any pain when they run these companies into the ground. And there should be some pain for doing so. I know it goes against the very concept of incorporation, which is a bed rock of the economy, but that concept was meant to protect ordinary employees and investors. It was not intended to shield these high flying bosses who run their companies into the ground, then get PowerBall level payoffs.
Weekend Recap redux
Dear James, Daniel and Emily
SO I had a lengthy recap written yesterday, only to have Blogger eat it. So I will try to hit on some of the same points. Saturday was busy, James' soccer, helping Dad move some large items, then Abigail's party. Sunday Kim worked so I got to sit around the house and do nothing but gorge on football. So it was a good weekend.
SO I had a lengthy recap written yesterday, only to have Blogger eat it. So I will try to hit on some of the same points. Saturday was busy, James' soccer, helping Dad move some large items, then Abigail's party. Sunday Kim worked so I got to sit around the house and do nothing but gorge on football. So it was a good weekend.
Monday, September 15, 2008
Weekend Recap
Dear James, Daniel and Emily
What an interesting weekend. Friday night I had my role playing, which was fun. And Daniel slept with no pull up for the first time, and no accident! Saturday was extremely busy with James' soccer game, helping Dad move some things, Abigail's birthday party. And on Sunday I gorged myself on Pro football while Kim worked. A good weekend with loads of contrast between busy and slow.
Yes Daniel is growing up! Friday was his last official speech therapy appointment. He is now pretty much up to speed, we still have to be cognizant of where he is and keep working on it, but I think he will continue to progress with being in school. And yes Friday night and last night he slept in underwear and pajamas rather than a pull up and had no accidents! So hooray for that, maybe that last pack of pull ups will be the last.
James' soccer game went well, his team won, James probably got more playing time than any of the other kids. I think that while he may not be the most athletically gifted kid he is the most experienced and aware kid on the team, so he doesn't generally have moments where his mind just wanders. So I think the coach appreciates that and wants him out there.
The birthday party was fun, a little chaotic but Daniel and James had a great time which was the most important thing. Overall Saturday ended up being an extremely busy day, so by the time we got home on Saturday night I was pretty much wiped out, I have no idea how Kim handles days like that when she has all the kids and takes them to the zoo or something similar.
So Sunday I did nothing, Kim had to work so I was able to indulge myself by just sitting in front of the TV and watching the NFL, including the Broncos. All I have to say about the Broncos game was that clearly the Football gods were pleased with Mike Shanahan, and his decision to go for 2 just reinforced that.
So overall a good weekend. Watched good amount of football, had some fun. And the kids had some good play time outside of the house and at home.
What an interesting weekend. Friday night I had my role playing, which was fun. And Daniel slept with no pull up for the first time, and no accident! Saturday was extremely busy with James' soccer game, helping Dad move some things, Abigail's birthday party. And on Sunday I gorged myself on Pro football while Kim worked. A good weekend with loads of contrast between busy and slow.
Yes Daniel is growing up! Friday was his last official speech therapy appointment. He is now pretty much up to speed, we still have to be cognizant of where he is and keep working on it, but I think he will continue to progress with being in school. And yes Friday night and last night he slept in underwear and pajamas rather than a pull up and had no accidents! So hooray for that, maybe that last pack of pull ups will be the last.
James' soccer game went well, his team won, James probably got more playing time than any of the other kids. I think that while he may not be the most athletically gifted kid he is the most experienced and aware kid on the team, so he doesn't generally have moments where his mind just wanders. So I think the coach appreciates that and wants him out there.
The birthday party was fun, a little chaotic but Daniel and James had a great time which was the most important thing. Overall Saturday ended up being an extremely busy day, so by the time we got home on Saturday night I was pretty much wiped out, I have no idea how Kim handles days like that when she has all the kids and takes them to the zoo or something similar.
So Sunday I did nothing, Kim had to work so I was able to indulge myself by just sitting in front of the TV and watching the NFL, including the Broncos. All I have to say about the Broncos game was that clearly the Football gods were pleased with Mike Shanahan, and his decision to go for 2 just reinforced that.
So overall a good weekend. Watched good amount of football, had some fun. And the kids had some good play time outside of the house and at home.
Friday, September 12, 2008
What small-town America is saying about Obama
Dear James, Daniel and Emily
This article is about one of the biggest issues that I fear will doom Obama in the end. Obama is seen like the line in Blazing Saddles: "What's a dazzling urbanite like you doing in a rustic setting like this?" Sometimes his appeal to young people and people in urban centers just doesn't translate to the rural areas. Now I would hope that race isn't the reason. But I am afraid it is, either overt racism, or covert prejudice. span>
This article is about one of the biggest issues that I fear will doom Obama in the end. Obama is seen like the line in Blazing Saddles: "What's a dazzling urbanite like you doing in a rustic setting like this?" Sometimes his appeal to young people and people in urban centers just doesn't translate to the rural areas. Now I would hope that race isn't the reason. But I am afraid it is, either overt racism, or covert prejudice. span>
We cannot afford more unilateral foreign policy
Dear James, Daniel and Emily
Usually in my Election posts I have been focused on domestic policy. That is because I haven't seen that much difference between the candidates realistically. At this point they both say they will pull troops out of Iraq, with the qualification that if local conditions merit staying, they will stay. They both tend to agree that we need more troops in Afghanistan, again, good news and agreement.
But last night, watching the Sarah Palin interview, and I realize that she is not the lead on the ticket, I felt some serious shivers. Her responses and demeanor when she declared a willingness to go to war with Russia over Ukraine or Georgia. Her willingness to pursue the Taliban into an allied, soveraign nation. And lastly, her willingness to jump into conflicts unilaterally, scare me.
What scares me is I am sure that she is answering with McCain talking points down the line as best she can. I doubt she was spouting her own policy if it contradicted McCains.
The problems our country faces internationally are because our current administration has pursued a bull in a china shop level of tact when dealing with other countries. Bush II has squandered the international good will we had as fast as it squandered the budget surplus. And that doesn't make things easier. And we need a President who is going to work at restoring that good will, develop international, multi-lateral solutions to major problems. And that is not John McCain and Sarah Palin.
Usually in my Election posts I have been focused on domestic policy. That is because I haven't seen that much difference between the candidates realistically. At this point they both say they will pull troops out of Iraq, with the qualification that if local conditions merit staying, they will stay. They both tend to agree that we need more troops in Afghanistan, again, good news and agreement.
But last night, watching the Sarah Palin interview, and I realize that she is not the lead on the ticket, I felt some serious shivers. Her responses and demeanor when she declared a willingness to go to war with Russia over Ukraine or Georgia. Her willingness to pursue the Taliban into an allied, soveraign nation. And lastly, her willingness to jump into conflicts unilaterally, scare me.
What scares me is I am sure that she is answering with McCain talking points down the line as best she can. I doubt she was spouting her own policy if it contradicted McCains.
The problems our country faces internationally are because our current administration has pursued a bull in a china shop level of tact when dealing with other countries. Bush II has squandered the international good will we had as fast as it squandered the budget surplus. And that doesn't make things easier. And we need a President who is going to work at restoring that good will, develop international, multi-lateral solutions to major problems. And that is not John McCain and Sarah Palin.
Wednesday, September 10, 2008
Why an understanding of taxes is important
Dear James, Daniel and Emily
The News Media cannot be counted on to explain things to you. Nor can they be counted on to really examine what the often sweeping generalizations made by politicians mean. This election has been an excellent example, and I have learned just how ignorant even really smart people are about taxes. So here are some basics plus a broad simplified analysis of the impact the candidates policies will have.
First some basics:
1. On your tax form there is a number referred to as Adjusted Gross Income, or AGI. AGI is computed adding up all of your income.
2. Then you subtract personal exemptions (you, your spouse, kids).
3. Then you subtract your deductions (standard or itemized), arriving at taxable income. That's what your tax rate is based on.
4. Then you throw in additional taxes from capital gains etc.
5. Then subtract credits to find out tax liability,
6. Then subtract withholding, and refundable credits, that's how you get to what you owe or get refunded.
Your taxes, the amount you owe, is based on Taxable income (line 43 on form 1040). That's why it pays to have kids, and buy a house and itemize the hell out your taxes when possible. Because there are only 2 places you can reduce that number: personal exemptions (being married with kids) and itemizing your deductions. Understanding that is one of the few things people get right. It's why home ownership is so crucial, it totally changes your tax liability.
Now here is what all this really means:
For a married couple with 2 kids, filing with the standard deduction, in order to even reach taxable income, they have make more than 23,900$
Once you reach actual taxable income here's your table (income range, tax rate, and then what this family can make before they move to the next tax rate)
0-15,650 10% rate (which means up to 39550)
15651-63700 15% rate (which means up to 87600)
63701-128500 25% rate (which means up to 154400)
128501-195850 28% rate (which means up to 219750)
195851-349700 33% rate
349700 and above: 35% rate
Now all of this above assumes people who don't own a house, itemize business expenses, education and child care credits/expenses, state taxes etc. which honestly is pretty rare. So the actual income numbers that someone can have from regular income are actually somewhat higher than these numbers. Of course that is balanced by the capital gains taxes so for most people I would call that a wash.
The Median household income in this country is roughly 48,000$ (I don't have the exact number in my head). That means that for at least half of the people in this country they are in the 15% or 10% range.
Here's the best break down I can get from the 2 campaign sites as far as specifics on tax policy that would affect the majority of Americans:
Obama:
1. Another Tax free rebate for people below the median income level (I am guessing at the income level based on the rebate in the spring)
2. Create a tax credit of 500-1000$ that again the majority of Americans would be eligible for. This would eliminate taxes for a percentage of lower income people (for my hypothetical family of 4 that would mean they could make up to 10K more a year in taxable income without having to pay taxes on it)
3. Obama did say over the weekend that he would be willing to keep the top tax rate capped at 35% for now, until the economy improves. This is not policy per se, which is why it is not on his web site.
McCain:
1. On the web site there is nothing concrete beyond making the 35% rate the maximum rate.
2. McCain did mention in his speech last week, and on other cases that he wants to double the personal exemptions for dependents. Which would have a huge effect. However, in this article it is explained that this would result in a roughly 24 billion dollars loss in revenue. So I really don't think there is a chance in hell it passes, because I don't think he can realistically come up with more than 24 billion dollars worth of budget cuts.
Plus there is this report that shows the real effect of the Obama and McCain tax policies.
So the bottom line is this: know what people really mean when they talk about cutting or raising taxes, it makes it harder to be misled. Because it is easy to be misled, especially in a presidential campaign like this.
The News Media cannot be counted on to explain things to you. Nor can they be counted on to really examine what the often sweeping generalizations made by politicians mean. This election has been an excellent example, and I have learned just how ignorant even really smart people are about taxes. So here are some basics plus a broad simplified analysis of the impact the candidates policies will have.
First some basics:
1. On your tax form there is a number referred to as Adjusted Gross Income, or AGI. AGI is computed adding up all of your income.
2. Then you subtract personal exemptions (you, your spouse, kids).
3. Then you subtract your deductions (standard or itemized), arriving at taxable income. That's what your tax rate is based on.
4. Then you throw in additional taxes from capital gains etc.
5. Then subtract credits to find out tax liability,
6. Then subtract withholding, and refundable credits, that's how you get to what you owe or get refunded.
Your taxes, the amount you owe, is based on Taxable income (line 43 on form 1040). That's why it pays to have kids, and buy a house and itemize the hell out your taxes when possible. Because there are only 2 places you can reduce that number: personal exemptions (being married with kids) and itemizing your deductions. Understanding that is one of the few things people get right. It's why home ownership is so crucial, it totally changes your tax liability.
Now here is what all this really means:
For a married couple with 2 kids, filing with the standard deduction, in order to even reach taxable income, they have make more than 23,900$
Once you reach actual taxable income here's your table (income range, tax rate, and then what this family can make before they move to the next tax rate)
0-15,650 10% rate (which means up to 39550)
15651-63700 15% rate (which means up to 87600)
63701-128500 25% rate (which means up to 154400)
128501-195850 28% rate (which means up to 219750)
195851-349700 33% rate
349700 and above: 35% rate
Now all of this above assumes people who don't own a house, itemize business expenses, education and child care credits/expenses, state taxes etc. which honestly is pretty rare. So the actual income numbers that someone can have from regular income are actually somewhat higher than these numbers. Of course that is balanced by the capital gains taxes so for most people I would call that a wash.
The Median household income in this country is roughly 48,000$ (I don't have the exact number in my head). That means that for at least half of the people in this country they are in the 15% or 10% range.
Here's the best break down I can get from the 2 campaign sites as far as specifics on tax policy that would affect the majority of Americans:
Obama:
1. Another Tax free rebate for people below the median income level (I am guessing at the income level based on the rebate in the spring)
2. Create a tax credit of 500-1000$ that again the majority of Americans would be eligible for. This would eliminate taxes for a percentage of lower income people (for my hypothetical family of 4 that would mean they could make up to 10K more a year in taxable income without having to pay taxes on it)
3. Obama did say over the weekend that he would be willing to keep the top tax rate capped at 35% for now, until the economy improves. This is not policy per se, which is why it is not on his web site.
McCain:
1. On the web site there is nothing concrete beyond making the 35% rate the maximum rate.
2. McCain did mention in his speech last week, and on other cases that he wants to double the personal exemptions for dependents. Which would have a huge effect. However, in this article it is explained that this would result in a roughly 24 billion dollars loss in revenue. So I really don't think there is a chance in hell it passes, because I don't think he can realistically come up with more than 24 billion dollars worth of budget cuts.
Plus there is this report that shows the real effect of the Obama and McCain tax policies.
So the bottom line is this: know what people really mean when they talk about cutting or raising taxes, it makes it harder to be misled. Because it is easy to be misled, especially in a presidential campaign like this.
Monday, September 8, 2008
Weekend Recap
Dear James, Daniel and Emily
A relaxing weekend, just what the Dr. ordered. I watched some intermittent football, but not so much that I got overwhelmed. Got some relaxation time playing with the computers. Got the kids out of the house for some fun time as well.
So the hydration seems to having a positive affect. The back spasms have eased off considerably. Of course I also made sure to not push it too much either. Daniel & Emily had a rough couple of nights Friday and Sunday. Emily ended up in our bed both nights, and Daniel was up a couple of times. With Daniel it was the usual night time growing pains. With Emily it appears to be an ear infection, Kim is taking her to the Dr. this afternoon. No fun, but hopefully we can get her on some medicine and possible chase the fever better.
I felt really good about the minimal football watching time. Again I watched a fair amount all told, but no one game all the way through. And certainly much easier without the obsessive stat watching from having a fantasy team. For better or worse it's like drinking for me, I tend to get overboard, 1 drink leads to lots type of thing. Well I don't know any other way to play fantasy football, so it's best to just go cold turkey.
Finally got some pix posted on the Picasa site from the last couple of weekends, mostly in the Summer BBQ section. Had a chance to try out the iMac some more, I think it is easily equal to the PC, just don't have the huge wealth of games. And I got a chance to put Chrome through some paces, I was impressed with it's speed, particularly when loading graphic or video intensive sites.
Took the kids to a friends house for a birthday party on Saturday, kind of an odd situation, being the only man there with a number of moms. But the kids had a good time, once I got James to get himself involved. He has a hard time getting himself into groups of kids who already know each other. Then Saturday we took the kids to the Zoo, for one last big trip before fall really kicks in. It was a good visit, but Daniel especially had a hard time because we got started so late in the day.
So overall, a good weekend. Not what you would call productive, but relaxing, and a good final weekend before soccer starts up again for James, shrinking our weekend time a little.
A relaxing weekend, just what the Dr. ordered. I watched some intermittent football, but not so much that I got overwhelmed. Got some relaxation time playing with the computers. Got the kids out of the house for some fun time as well.
So the hydration seems to having a positive affect. The back spasms have eased off considerably. Of course I also made sure to not push it too much either. Daniel & Emily had a rough couple of nights Friday and Sunday. Emily ended up in our bed both nights, and Daniel was up a couple of times. With Daniel it was the usual night time growing pains. With Emily it appears to be an ear infection, Kim is taking her to the Dr. this afternoon. No fun, but hopefully we can get her on some medicine and possible chase the fever better.
I felt really good about the minimal football watching time. Again I watched a fair amount all told, but no one game all the way through. And certainly much easier without the obsessive stat watching from having a fantasy team. For better or worse it's like drinking for me, I tend to get overboard, 1 drink leads to lots type of thing. Well I don't know any other way to play fantasy football, so it's best to just go cold turkey.
Finally got some pix posted on the Picasa site from the last couple of weekends, mostly in the Summer BBQ section. Had a chance to try out the iMac some more, I think it is easily equal to the PC, just don't have the huge wealth of games. And I got a chance to put Chrome through some paces, I was impressed with it's speed, particularly when loading graphic or video intensive sites.
Took the kids to a friends house for a birthday party on Saturday, kind of an odd situation, being the only man there with a number of moms. But the kids had a good time, once I got James to get himself involved. He has a hard time getting himself into groups of kids who already know each other. Then Saturday we took the kids to the Zoo, for one last big trip before fall really kicks in. It was a good visit, but Daniel especially had a hard time because we got started so late in the day.
So overall, a good weekend. Not what you would call productive, but relaxing, and a good final weekend before soccer starts up again for James, shrinking our weekend time a little.
Saturday, September 6, 2008
Labor Day BBQ
Dear James, Daniel and Emily
So as I said earlier we had a good time at the Labor Day Barbecue. With visits from some friends, family. Ladder Ball was a big hit as always. Even my normally anti-social friends got up and played some. Including Dale of all people. And we had a good visit from my niece Bekah and her kids. Her kids had a good time, Neveah did not want to leave. Grayson seemed to really enjoy himself on the trampoline (he is the kid in the middle caught in mid-leap. And here is the rest of it.
Friday, September 5, 2008
Random Thoughts at the end of strange week
Dear James, Daniel and Emily
So it's been a strange week, having 3 4 day weeks in a row has thrown me off. I had planned on watching more of the RNC, but let Kim have control of the remote and TV instead, so I didn't watch nearly as much as I planned. I haven't slept well most of the week, due to back spasms, which makes life pretty hard. Plus the NFL season started last night, and while I watched some of the game, it was refreshing to not care as much because I am not playing fantasy. And I had hoped to do more computer stuff at home, but time got the better of me, again...
So I was not at all impressed with the RNC. First they went whole hog attack on Wednesday night, highlighted by Sarah Palin. Then McCain tried to come out last night and convince voters that 'he is not the Republican we thought he was' and that he wasn't involved in any of the bad decisions and policies of the last 8 years. Which is a really hard sell, considering his 90% voting record in support of the Administration's policies over the last 8 years. And the fact that all of the actual policy issues he talked about last night were echoes of the current administrations policies. Maybe it's just me but that just doesn't sell.
My back started acting up a week ago, but was just a little sore. But after a semi-hard weekend of cleaning and yard work etc to get ready for the party it really started acting up. So much so that I could barely sleep. I saw the massage guy here at the office on Wednesday and he worked on me, but it was still sore. Last night it acted up so much that I could barely sleep, and apparently other muscles were cramping as well. The main thing to do now is to follow the massage guys advice and work on hydrating myself, especially at night, as I rarely drink much once I get home.
Yep, the NFL regular season started last night, I watched the first quarter or so, but other than that it was pretty much a non-event for me. It's nice to not be so focused on football for a change, without the fantasy football to worry about I can pretty much let the games happen and not care so much.
Mom brought her old iMac over on Monday, I was planning on playing with it some this week, try and decide if I want to go in that direction for future computers. But other than some basic network connectivity stuff on Monday I haven't touched it. Plus I downloaded the new Google Browser: Chrome, but haven't had any chance to run it through it's paces either. Maybe this Saturday, since it will be my last Saturday before soccer season, I will get some more computer play time.
So next week should be a pretty normal week, with our schedule returning to normal and Daniel settling into the school routine now. And nothing big planned for the weekend, which should be nice for a change.
So it's been a strange week, having 3 4 day weeks in a row has thrown me off. I had planned on watching more of the RNC, but let Kim have control of the remote and TV instead, so I didn't watch nearly as much as I planned. I haven't slept well most of the week, due to back spasms, which makes life pretty hard. Plus the NFL season started last night, and while I watched some of the game, it was refreshing to not care as much because I am not playing fantasy. And I had hoped to do more computer stuff at home, but time got the better of me, again...
So I was not at all impressed with the RNC. First they went whole hog attack on Wednesday night, highlighted by Sarah Palin. Then McCain tried to come out last night and convince voters that 'he is not the Republican we thought he was' and that he wasn't involved in any of the bad decisions and policies of the last 8 years. Which is a really hard sell, considering his 90% voting record in support of the Administration's policies over the last 8 years. And the fact that all of the actual policy issues he talked about last night were echoes of the current administrations policies. Maybe it's just me but that just doesn't sell.
My back started acting up a week ago, but was just a little sore. But after a semi-hard weekend of cleaning and yard work etc to get ready for the party it really started acting up. So much so that I could barely sleep. I saw the massage guy here at the office on Wednesday and he worked on me, but it was still sore. Last night it acted up so much that I could barely sleep, and apparently other muscles were cramping as well. The main thing to do now is to follow the massage guys advice and work on hydrating myself, especially at night, as I rarely drink much once I get home.
Yep, the NFL regular season started last night, I watched the first quarter or so, but other than that it was pretty much a non-event for me. It's nice to not be so focused on football for a change, without the fantasy football to worry about I can pretty much let the games happen and not care so much.
Mom brought her old iMac over on Monday, I was planning on playing with it some this week, try and decide if I want to go in that direction for future computers. But other than some basic network connectivity stuff on Monday I haven't touched it. Plus I downloaded the new Google Browser: Chrome, but haven't had any chance to run it through it's paces either. Maybe this Saturday, since it will be my last Saturday before soccer season, I will get some more computer play time.
So next week should be a pretty normal week, with our schedule returning to normal and Daniel settling into the school routine now. And nothing big planned for the weekend, which should be nice for a change.
Thursday, September 4, 2008
RNC THoughts
Dear James, Daniel and Emily
I will be the first to admit that I haven't watched much of the Republican Convention. I don't expect to get much out of it. I tried to watch some of Sara Palin's speech last night, and it was so painful in it's delivery that I willingly changed the channel. But apparently I must have watched the wrong part of the speech because supposedly she was pretty good. Well pretty good being a relative term.
From what I have seen so far, it looks like the Republicans are into full on attack dog mode. 'Screw the ideas or policies, we want America to know how bad this Obama guy is.' And of course from the shots of the crowd last night all I could think was 'wow, look at all the old white people'. The Party of Lincoln should be ashamed.
I plan to watch McCain's speech tonight, I will be interested to see if he can propose any new ideas. Or policies period, something other than, elect me because I am a heroic old white guy. Hero's are good for the country, I am not discounting them, but heroism doesn't mean you can govern. And I don't think you should be elected just because you are better at making the other guy or girl look bad.
I kept hearing the coverage of the DNC calling for 'red meat', but I think that this country has had enough of that. I am not talking about turn the other cheek politics, respond when attacked, but whenever possible bring the subject back to real concrete policies and issues, not personalities. All of this character assassination is one of the reasons I stopped voting Republican back in 92.
I will be the first to admit that I haven't watched much of the Republican Convention. I don't expect to get much out of it. I tried to watch some of Sara Palin's speech last night, and it was so painful in it's delivery that I willingly changed the channel. But apparently I must have watched the wrong part of the speech because supposedly she was pretty good. Well pretty good being a relative term.
From what I have seen so far, it looks like the Republicans are into full on attack dog mode. 'Screw the ideas or policies, we want America to know how bad this Obama guy is.' And of course from the shots of the crowd last night all I could think was 'wow, look at all the old white people'. The Party of Lincoln should be ashamed.
I plan to watch McCain's speech tonight, I will be interested to see if he can propose any new ideas. Or policies period, something other than, elect me because I am a heroic old white guy. Hero's are good for the country, I am not discounting them, but heroism doesn't mean you can govern. And I don't think you should be elected just because you are better at making the other guy or girl look bad.
I kept hearing the coverage of the DNC calling for 'red meat', but I think that this country has had enough of that. I am not talking about turn the other cheek politics, respond when attacked, but whenever possible bring the subject back to real concrete policies and issues, not personalities. All of this character assassination is one of the reasons I stopped voting Republican back in 92.
Tuesday, September 2, 2008
My Election update
Dear James, Daniel and Emily
So a lot happened in the last 4 days. There was the Obama speech to close the Democratic convention. And then the Republican VP pick. And last the Gustav effect on the Republican convention and the election in gneral.
First, the speech, I watched it, recorded it, and loved it. It was emotional (it got pretty dusty in there a few times), it was smart, and entertaining. I thought it did what he wanted: it broke down his main plans, it broke out what the main differences are between Obama and McCain, and it was a all for a more civbilized approach to the camapaign. Forrest remarked that he though that Obama was no longer living up to his goal of rising above the 'politics as usual' campaign strategy of negativity. I think that he is doing his best to do so, but he won't fall into the trap that Kerry did of letting any attack go unanswered. This is not the West Wing idealized world where the candidates get together and jointly decide to not go negative. I think there is too much at risk to not answer the attacks.
Second, the VP pick, I thought it was typical McCain: reckless, possibly brilliant, but with a huge huge potential down side. In talking to my niece on Saturday (a Hillary supporter) she was insulted by the implication that just by nominating a woman she would automatically forsake her values and vote for McCain. And I think there will be a number of Hillary supporters who will eventually realize that. And the more that comes out the more I think that she is an example of the worst aspects of the Neo-Con Republicans: Shiny eyed fanaticism highlighted by her right to life, pro-creation, anti-sex ed views. And so long as Biden doesn't come across as too much of a bully in their debate, it will eventually prove to be a negative. Mainly because it took McCain's most successful tack so far: Experience, and threw it right out the window.
Last, the Gustav effect, which I don't think can be underestimated. Because the Republicans now cannot afford the flash and glitz of the Democratic convention, not when 2 million people have been displaced and some portion of them may have lost houses etc. And this gives people a chance to revisit everything that went wrong with Katrina and the aftermath. And the Republicans can't go too far in showing off their compassion without seeming to make political hay out of a tragedy. It remains to be seen what effect it has, but I think the hurricane season this year could play out pretty dramatically. And as an aside, all of those arguments for increased offshore drilling have to look a little foolish with the expectations of having to shut down production for a month of so every year due to adverse weather...
So a lot happened in the last 4 days. There was the Obama speech to close the Democratic convention. And then the Republican VP pick. And last the Gustav effect on the Republican convention and the election in gneral.
First, the speech, I watched it, recorded it, and loved it. It was emotional (it got pretty dusty in there a few times), it was smart, and entertaining. I thought it did what he wanted: it broke down his main plans, it broke out what the main differences are between Obama and McCain, and it was a all for a more civbilized approach to the camapaign. Forrest remarked that he though that Obama was no longer living up to his goal of rising above the 'politics as usual' campaign strategy of negativity. I think that he is doing his best to do so, but he won't fall into the trap that Kerry did of letting any attack go unanswered. This is not the West Wing idealized world where the candidates get together and jointly decide to not go negative. I think there is too much at risk to not answer the attacks.
Second, the VP pick, I thought it was typical McCain: reckless, possibly brilliant, but with a huge huge potential down side. In talking to my niece on Saturday (a Hillary supporter) she was insulted by the implication that just by nominating a woman she would automatically forsake her values and vote for McCain. And I think there will be a number of Hillary supporters who will eventually realize that. And the more that comes out the more I think that she is an example of the worst aspects of the Neo-Con Republicans: Shiny eyed fanaticism highlighted by her right to life, pro-creation, anti-sex ed views. And so long as Biden doesn't come across as too much of a bully in their debate, it will eventually prove to be a negative. Mainly because it took McCain's most successful tack so far: Experience, and threw it right out the window.
Last, the Gustav effect, which I don't think can be underestimated. Because the Republicans now cannot afford the flash and glitz of the Democratic convention, not when 2 million people have been displaced and some portion of them may have lost houses etc. And this gives people a chance to revisit everything that went wrong with Katrina and the aftermath. And the Republicans can't go too far in showing off their compassion without seeming to make political hay out of a tragedy. It remains to be seen what effect it has, but I think the hurricane season this year could play out pretty dramatically. And as an aside, all of those arguments for increased offshore drilling have to look a little foolish with the expectations of having to shut down production for a month of so every year due to adverse weather...
Weekend Recap
Dear James, Daniel and Emily
A day later than usual, because of the holiday weekend. And an excellent weekend as well. Kim & I got some good work done on Friday, finally finishing the toy boxes and getting the boys room cleaned up and organized. Friday night I had a good game/night out. Saturday I was semi-productive, got some cleaning done and yard work done as part of preparing for our big Labor Day cook out. THen Saturday night was Lalee's birthday party at Dave's which went well. Sunday was busy, first with preparations for the cookout, then the cookout itself. And Monday was relaxation, and recovery, plus a bit of a sick day for James.
So overall a very good weekend. THe cookout was a great success. Even a few of my friends got up and played some ladderball, getting a little social out of their element. I was able to inroduce some other people around, and got some visiting in with my niece. And we ended up with just about the right amount of food, the only things that really got dumped were some of the dips, and there were very little left overs. And the kids all had a good time. I have always envied Forrest's annual events: the Halloween party, Spam O Rama. So maybe I will shoot for making this our annual event for friends and family (the Christmas Eve party is just family normally so ti doesn't really count). Because if there is one thing Kim's family is good at it is making the big outdoor events like barbecue's a lot of fun.
And I was pleased to get some of the little things done, like the toy boxes. Because now we can move on to the next project. I think that will probably be the stairwell, just replacing the light fixtures, touching up the paint and reattaching the banister. Overall we are making decent headway on getting the little stuff done around the house.
A day later than usual, because of the holiday weekend. And an excellent weekend as well. Kim & I got some good work done on Friday, finally finishing the toy boxes and getting the boys room cleaned up and organized. Friday night I had a good game/night out. Saturday I was semi-productive, got some cleaning done and yard work done as part of preparing for our big Labor Day cook out. THen Saturday night was Lalee's birthday party at Dave's which went well. Sunday was busy, first with preparations for the cookout, then the cookout itself. And Monday was relaxation, and recovery, plus a bit of a sick day for James.
So overall a very good weekend. THe cookout was a great success. Even a few of my friends got up and played some ladderball, getting a little social out of their element. I was able to inroduce some other people around, and got some visiting in with my niece. And we ended up with just about the right amount of food, the only things that really got dumped were some of the dips, and there were very little left overs. And the kids all had a good time. I have always envied Forrest's annual events: the Halloween party, Spam O Rama. So maybe I will shoot for making this our annual event for friends and family (the Christmas Eve party is just family normally so ti doesn't really count). Because if there is one thing Kim's family is good at it is making the big outdoor events like barbecue's a lot of fun.
And I was pleased to get some of the little things done, like the toy boxes. Because now we can move on to the next project. I think that will probably be the stairwell, just replacing the light fixtures, touching up the paint and reattaching the banister. Overall we are making decent headway on getting the little stuff done around the house.
Subscribe to:
Comments (Atom)