The problem with Mr. Romney’s pitch is the kind of businessman he was: specifically, a buyer of flailing companies who squeezed out the inefficiencies (often known as employees) and then sold or merged them for a hefty profit. More than a fifth of them later went bankrupt, The Wall Street Journal reported on Monday. This kind of leveraged capitalism, which first caught fire in the 1980s, is one of the reasons for the growth in the income gap, tipping the wealth in the economy toward the people at the top.
"Comedy Bang! Bang!" gets picked up by IFC
To answer all the “How do you get a writers’ assistant job?” questions I’ve been getting for the past few months: You work for Scott Aukerman for a year and a half and he gives you charity whenever he gets his own TV show.
OMGOMGOMG!
This deserves a new Reggie Watts theme song right? Starting the campaign here!
Yayer!
Cartoon of the day. You know what they say…
The comedy genius of The New Yorker cartoon strikes again.
The Civil Rights Act of 1964 gave the federal government unprecedented power over the hiring, employee relations, and customer service practices of every business in the country. The result was a massive violation of the rights of private property and contract, which are the bedrocks of free society. The federal government has no legitimate authority to infringe on the rights of private property owners to use their property as they please and to form (or not form) contracts with terms mutually agreeable to all parties. The rights of all private property owners, even those whose actions decent people find abhorrent, must be respected if we are to maintain a free society. This expansion of federal power was based on an erroneous interpretation of the congressional power to regulate interstate commerce. The framers of the Constitution intended the interstate commerce clause to create a free trade zone among the states, not to give the federal government regulatory power over every business that has any connection with interstate commerce.
Danish company helped Iran identify journalist who was arrested and tortured
Ironically, the equipment originally comes from the Israeli manufacturer Allot Communications, which means that the Israelis through a Danish intermediary have helped their mortal enemies.
With $30 Billion Arms Deal, U.S. Bolsters Saudi Ties
The sale to Saudi Arabia may also suggest that the two countries have decided to move past their public disagreement this year when political upheavals swept the Arab world.
The Saudis were angry that President Obama withdrew support for Egypt’s embattled president, Hosni Mubarak, after he faced large-scale protests in Cairo and other major cities. Mr. Mubarak was a longtime ally of Saudi Arabia and of the United States.
Later, it was the White House’s turn to be upset, when Saudi tanks rolled into in neighboring Bahrain in a show of support for that kingdom’s Sunni monarchy.
But Saudi Arabia and the United States continue to collaborate in areas like counterterrorism. In recent weeks, the two have worked to resolve the crisis in Yemen, where President Ali Abdullah Saleh has formally agreed to cede power in a Saudi-brokered agreement and has applied for a visa to travel to the United States for medical treatment.
Oh GREAT.
Marc Maron / Dave Foley
a certain je ne sais corduroy
“Sure! I drink a little! I’ve smoked pot! I’ve tried heroin!”
Romney Says He Won’t Release Tax Returns
A story in The New York Times this week reported that Mr. Romney continues to increase his wealth through a retirement agreement with Bain Capital, the private equity firm he founded, which still pays him a share of profits long after his departure.
The arrangement with Bain also most likely means that much of Mr. Romney’s income is taxed at a much lower rate than ordinary income under a provision aimed at hedge fund and private equity managers. Releasing his tax returns would allow Mr. Romney’s rivals to calculate the effective tax rate he is paying.
How long until the “Occupy Mitt” protests start popping up on his campaign trail?
