crony capitalism

Hollywood Gets Tax Break Extension, While Payroll Extension Break Ended

"Section 317 of the freshly approved legislation includes an extension for 'special expensing rules for certain film and television productions.' The fiscal cliff deal extends the tax incentives through 2013--even as payroll taxes rise on ordinary Americans. The original tax incentive applied to productions costing less than $15 million to make ($20 million in low-income areas). The 2008 extension applies to all films, up to a deduction of $15 million (or $20 million in low-income areas). The incentive is especially generous to television series; it applies to each TV episode." Continue reading →

Continue ReadingHollywood Gets Tax Break Extension, While Payroll Extension Break Ended

Pentagon Cries Poor, Starts $10 Billion Nuclear Weapon Upgrade

"The $178 million, three-year contract with Boeing is for a prototype 'tail kit' for the B61 nuclear weapon. The fins and control systems will be similar to the ones on today’s conventional, GPS-guided bombs, potentially making this enhanced version of the B61 the most accurate weapon of mass destruction ever. It’s one part of a bigger package of improvements to the B61 that the Pentagon insists it needs in order to keep this slice of its nuclear arsenal ready for war, if needed. Everything from the spin rocket motors to the electronic neutron generators will be refreshed. Total cost: an estimated $10 billion." Continue reading →

Continue ReadingPentagon Cries Poor, Starts $10 Billion Nuclear Weapon Upgrade

Court Gives a Christmas Victory to Atlanta Street Vendors

"In 2009, Atlanta handed over all vending on public property to General Growth Properties—the first time any American city has set up such a centralized scheme for vending. As the monopolist has moved into areas of the city, Atlanta officials have revoked the existing vendors’ permits and forced them to leave. The first phase of the program eliminated approximately 16 vibrant vending businesses along with dozens of self-supporting private-sector jobs. Thankfully today’s ruling halted the second phase of the program—which included the area around Turner Field, where Plaintiffs Larry Miller and Stanley Hambrick’s vending businesses operate." Continue reading →

Continue ReadingCourt Gives a Christmas Victory to Atlanta Street Vendors

The Invisible Hand Strikes Back

"The system proved a good deal more fragile than people have been led to expect. Couple that with the Fed's ongoing money-printing that has literally doubled equity values and you get increasing resistance to the whole idea of stock investing. First people are frightened by the breakdown of the system itself and then they are exposed to ongoing – 'industrial strength' – monetary manipulation. What do those in the industry expect? What do elites that have built up the modern stock market believe people will do with their money? People 'get it' ... and not in a good way." Continue reading →

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One nation under drugs, with slavery and sickness for all

"More than 15,000 Americans now die annually after overdosing on prescription painkillers called opioids, according to the Centers for Disease Control and Prevention—more than from heroin, cocaine and all other illegal drugs combined. Rising opioid abuse means that drug overdoses are now the single largest cause of accidental death in America. They surpassed traffic accidents in 2009, the most recent CDC data available. And all of this is occurring under the 'watchful' eye of the FDA." Continue reading →

Continue ReadingOne nation under drugs, with slavery and sickness for all

California: Benefit of Longer Yellow Light Proves Lasting

"Municipalities that use red light cameras for the most part are highly reluctant to increase the amount of yellow warning time at an intersection, citing the theory that motorists 'adapt' to the longer yellow, encouraging even more red light running. New data from Fremont, California suggests the reduction in red light running violations from longer yellows is lasting. After nearly two years with the enhanced timing, violations remained down by 71 percent. While a 0.7 second difference in the duration of the yellow warning at an intersection might appear insignificant, the extra margin of safety is critical." Continue reading →

Continue ReadingCalifornia: Benefit of Longer Yellow Light Proves Lasting

Maryland: Speed Camera Company Admits 5.2 Percent Error Rates

"Over the past two decades, advocates have argued the main advantage of a speed camera is that the machines never lies. Most states codify this belief with a legal presumption that the automated citation is accurate and it is up to the defendant to prove otherwise. In Baltimore, Maryland last week a leading speed camera vendor made the unprecedented admission that the technology frequently lies, but obvious examples of false readings slipped through the process due to 'human error'." Continue reading →

Continue ReadingMaryland: Speed Camera Company Admits 5.2 Percent Error Rates

Genetically modified salmon not harmful, FDA says

"Federal health regulators say a genetically modified salmon that grows twice as fast as normal is unlikely to harm the environment, clearing the way for the first approval of a scientifically engineered animal for human consumption. The document concludes that the fish 'will not have any significant impacts on the quality of the human environment of the United States.' Regulators also said that the fish is unlikely to harm populations of natural salmon, a key concern for environmental activists. The FDA said more than two years ago that the fish appears to be safe to eat, but the agency had taken no public action since then." Continue reading →

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The Military-Industrial Complex, Neocons and General Patraeus

"Frederick and Kimberly Kagan, a husband-and-wife team of hawkish military analysts, put their jobs at influential Washington think tanks on hold for almost a year to work for Gen. David H. Petraeus when he was the top U.S. commander in Afghanistan. The pro-bono relationship, which is now being scrutinized by military lawyers, yielded valuable benefits. The Kagans’ proximity to Petraeus provided an incentive for defense contractors to contribute to Kim Kagan’s think tank. For Petraeus, embracing two respected national security analysts in GOP circles helped to shore up support for the war among Republican leaders on Capitol Hill." Continue reading →

Continue ReadingThe Military-Industrial Complex, Neocons and General Patraeus