May 29, 2009

Things you may have missed : Levi's loves Teh Gays, Holy Sheet and more

  • Levi Strauss (which is a company not related to the Speaker of the Texas House of Representatives) has announced it's support for the white knot campaign supporting marriage equality for Teh Gays. We are sure this will mean that the Family Research Council will begin burning jeans in the streets.
  • Speaking of the FRC, they're asking people to pray. For Teh Gays to continue living in sin
  • Income disparity has been a MASSIVE problem in this country, caused mostly by adherence to supply side orthodoxy and a conservative push to destroy education. The real question, though, is how much of this income concentration should we tax? Case in point, the massive incomes made by Wall Streeters based on profits that weren't real. I'm not even remotely sold, because like everyone else these folks played by the rules set up by their companies. Should things change going forward, absolutely. However, unless they falsified transactions (like Enron) or they knowingly overwrote their capacity (like AIG's FP group in London), there's not really much you can legally do.

    For me, I'm fine with some massive changes in the tax code. And this, unless you have some positive way to exempt the poor, ain't it. Seriously, I've heard the arguments that the poor can pay the tax, then receive a refund later. But that's not possible for people who are living hand to mouth to begin with. Unless you can exempt them from the tax at purchase, then this is a non-starter.

  • The next problem for the banks... bringing Off Balance Sheet entities (or Special Purpose Entities-SPE's)back on to the balance sheet. I honestly don't think this is going to be that big a problem since the banks have, since 2007, had to funnel over a lot money to the SPE's just to keep them afloat. That's not to say it won't be problem at all.
  • Christian Lacroix files for bankruptcy. The fashion house, not the man.
  • Posted by mcblogger at May 29, 2009 11:30 AM

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