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Tuesday, November 27, 2012
Was the Bogus ICOA Press Release Actually a Clever Stock Scam?
Obama may get chance to end Benghazi PR disaster
WASHINGTON (AP) ? The White House could finally have its chance to close the books on its Benghazi public relations disaster, as key Republicans signal they might not stand in the way of U.N. Ambassador Susan Rice to become the next secretary of state.
"I think she deserves the ability and the opportunity to explain herself and her position," Sen. John McCain, R-Ariz., told "Fox News Sunday." ''But she's not the problem. The problem is the president of the United States," who, McCain said, misled the public on terrorist involvement.
Rice is widely seen as President Barack Obama's top pick to replace Secretary of State Hillary Rodham Clinton as the nation's top diplomat. But Rice's reputation took a serious hit this fall when she relied on unclassified talking points provided by the intelligence community that portrayed the attack in Benghazi, Libya, as a spontaneous assault by a mob angered by an anti-Muslim video posted on YouTube.
Intelligence officials quickly amended their assessment to conclude the attack hadn't been related to other film protests across the Middle East. But that revised narrative was slow to reach the public, prompting Republicans to allege a White House cover-up ahead of the Nov. 6 election.
The attack killed Ambassador Chris Stevens, a State Department computer specialist and two former Navy SEALs who were working as contract security guards.
McCain's remarks were in contrast to his previous stance that Rice wasn't qualified to replace Clinton, who is expected to step down soon, and that he would do "whatever is necessary" to block Rice's possible nomination.
Sen. Lindsey Graham, McCain's close friend and colleague on the Senate Armed Services Committee, told ABC's "This Week" he still suspects the White House intentionally glossed over obvious terrorist links in the attack to keep voters from questioning Obama's handling of national security.
But instead of repeating his prior assertion that he was "dead set" against a Rice promotion, Graham suggested he looked forward to hearing her out. If Rice were nominated, "there will be a lot of questions asked of her about this event and others," said Graham, R-S.C.
The subtle shift in GOP tenor on Rice could be the result of internal grumblings on how far to take party opposition. Democrats picked up extra Senate seats in the election to maintain their narrow majority, making it that much harder for the remaining 45 Republicans to block the president's nominees.
One senior GOP Senate aide said Sunday that Republicans hadn't united against Rice and were not convinced she was worth going after. The official spoke on condition of anonymity because the aide was not authorized to speak publicly on internal GOP deliberations.
Source: http://news.yahoo.com/obama-may-chance-end-benghazi-pr-disaster-082741024--politics.html
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Inside America's Tax Battle by Laura Tyson - Project Syndicate
BERKELEY ? America?s recent presidential election answered the question of whether an increase in revenues will be part of the country?s long-run deficit-reduction plan. The answer is yes: there is now bipartisan agreement on the need for a ?balanced? approach that includes revenue increases and spending cuts.
But there are still deep political and ideological divisions about how additional revenues should be raised and who should pay higher taxes. If a preliminary agreement on these questions is not reached by the end of the year, the economy faces a ?fiscal cliff? of $600 billion in automatic tax increases and spending cuts that will shave about 4% from GDP and trigger a recession.
The majority of citizens agree with President Barack Obama that tax increases for deficit reduction should fall on the top 2-3% of taxpayers, who have enjoyed the largest gains in income and wealth over the last 30 years. That is why he is proposing that the 2001 and 2003 rate cuts for these taxpayers be allowed to expire at the end of the year, while the rate cuts for other taxpayers are extended.
So far, Obama?s Republican opponents are adamant that the cuts be extended for all taxpayers, arguing that increases in top rates would discourage job creation. This claim is not supported by the evidence. Recent research finds no link between tax cuts for top taxpayers and job creation. In contrast, tax cuts for the bottom 95% have a positive and significant effect on job growth.
During the past three decades, income inequality in the United States has increased significantly; indeed, the US now has the fourth-highest level of income inequality in the OECD, behind Chile, Mexico, and Turkey. At the same time, as the largest tax cuts have gone to high-income taxpayers, the US tax system has become considerably less progressive. The US needs fiscal measures that both curb the deficit and contain rising income inequality ? and the inequality of opportunity that it begets.
But how should additional revenues be raised from top taxpayers to achieve these two goals? Most economists believe that increasing revenues by reforming the tax code and broadening the tax base is ?probably? better for the economy?s long-term growth than raising income-tax rates. The analytical case for this belief is strong, but the empirical evidence is weak.
In theory, higher marginal tax rates have well known negative effects ? they reduce private incentives to work, save, and invest. Yet most empirical studies conclude that, at least within the range of income-tax rates in the US during the last several decades, these effects are negligible.
A recent Congressional Research Service report, withdrawn under pressure from Congressional Republicans, found that changes in the top income-tax rate and the rate on capital gains had no discernible effect on economic growth during the last half-century. A recent review of the economic literature by three distinguished academics found no convincing evidence that real economic activity responds materially to tax-rate changes on top income earners, although such changes do affect their tax-avoidance behavior. So Obama has evidence on his side when he says that allowing the tax cuts for high-income taxpayers to expire at the end of the year will not affect economic growth.
Republicans have proposed tax reforms in lieu of rate hikes on high-income taxpayers to raise revenues for deficit reduction. Obama has signaled that he is willing to consider this approach, provided it increases tax revenues from the top 2-3% by at least the same amount as higher rates while protecting other taxpayers.
The federal tax system is certainly in need of reform. Tax expenditures ? which include all deductions, credits, and loopholes ? account for about 8% of GDP. Indeed, the US tax code is riddled with special preferences and contains large differences in effective tax rates across individuals and economic activities. These differences distort decisions about investment allocation and financing. Reforms that made the tax system simpler, fairer, and less distortionary would have a beneficial effect on economic growth, although economists concede that the size of this effect is uncertain and impossible to quantify.
Because tax expenditures are so large, limiting them could raise a significant amount of additional revenue that could be used both for deficit reduction and to finance across-the-board cuts in income-tax rates. Analysis of the Simpson-Bowles and Domenici-Rivlin deficit-reduction plans by the nonpartisan Tax Policy Center confirms that this approach is arithmetically feasible. Reducing large regressive tax expenditures like preferential tax rates for capital gains and dividends and deductions for state and local taxes, and replacing deductions with progressive tax credits, could generate enough revenue to finance rate cuts for all taxpayers, increase the tax code?s overall progressivity, and contribute meaningfully to deficit reduction.
But the odds of such an outcome are very low: what is arithmetically feasible is unlikely to be politically possible. Efforts to cap popular tax expenditures will encounter strong opposition from Republicans and Democrats alike. Nonetheless, some tax reforms are likely to be a key component of a bipartisan deficit-reduction deal, because they provide Republicans who oppose increases in tax rates for high-income taxpayers with an ideologically preferable way to increase revenue from them.
Unfortunately, it will take time to negotiate tax reforms ? more time than remains until the end of the year, when the 2001 and 2003 tax cuts are scheduled to expire for all taxpayers. But there is still time to negotiate an agreement that extends these cuts for the bottom 98%, and that contains temporary measures to cap deductions and credits for high-income taxpayers in 2013. Such an agreement could help to break the political impasse over whether and how much these taxpayers? rates should rise next year, thereby preventing the US from falling over the fiscal cliff and back into recession.
Reprinting material from this Web site without written consent from Project Syndicate is a violation of international copyright law. To secure permission, please contact us.
Source: http://www.project-syndicate.org/commentary/how-america-can-avoid-the-fiscal-cliff-by-laura-tyson
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Monday, November 26, 2012
Design and Partial Realization of the China Arrow Information ...
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Source: http://www.auditpaper.com/audit-trail/251020882.shtml
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The iPad Owned Black Friday, So Let?s Start Seeing Better Shopping Experiences Designed For It
The iPad seems to have dominated online shopping from tablets, according to an IBM report, and in fact won out over all other devices in mobile e-commerce. Arguably, that's because it offers more of a full-web experience, and is more pleasant for browsing standard online retailer sites than a smartphone. But tablet-based shopping continues to be a less than optimal experience.Source: http://feedproxy.google.com/~r/Techcrunch/~3/ri_7bdZTKEY/
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Sunday, November 25, 2012
Divided Kuwait limps toward boycott-hit elections
A Kuwaiti woman walks past a board with the names and photos of next December's election candidates in Salwa, Kuwait, Sunday, Nov. 25, 2012. There is little middle ground but plenty of high-stakes tension as Kuwait stumbles toward elections for the most politically empowered parliament among the Gulf Arab states. (AP Photo/Gustavo Ferrari)
A Kuwaiti woman walks past a board with the names and photos of next December's election candidates in Salwa, Kuwait, Sunday, Nov. 25, 2012. There is little middle ground but plenty of high-stakes tension as Kuwait stumbles toward elections for the most politically empowered parliament among the Gulf Arab states. (AP Photo/Gustavo Ferrari)
KUWAIT CITY (AP) ? The message from Kuwait's emir is blunt heading into this week's parliamentary elections: Opposition factions should express dissent in the legislature, and not in the streets. The response from the opposition is equally uncompromising: We're not satisfied with what we can accomplish through parliament, so we're boycotting the vote.
There is little middle ground as Kuwait stumbles toward its second election this year for the most politically empowered parliament in the Gulf Arab states, which serves as a check on the emir, Sheik Sabah Al Ahmed Al Sabah. Violent protests and crackdowns on activists ? until recently rare in Kuwait ? have contributed to the high-stakes tension.
The outcome Saturday is certain to hand the ruling family and its allies a near-sweep of friendly lawmakers. Yet that is not necessarily good news for the stability of a country that has ricocheted from one political crisis to the next for nearly a year, including street clashes between security forces and an opposition coalition that ranges from hardline Islamists to youth activists.
For years, that legislature has served as a forum for the opposition to press their demands. But with the opposition's boycott likely to take them into self-exile from the political system, the worry is their new soapbox will be the street demonstrations like those that have engulfed many other Arab states in the past two years.
The potential fallout goes well beyond its borders. Any major upheavals in OPEC member Kuwait have potential repercussions on oil prices and the Pentagon's plans to use the nation as its hub for ground forces in efforts to counter the growth of Iran's military.
Gulf Arab rulers have so far ridden out the Arab Spring uprisings through a combination of factors including crackdowns and payouts to buy off potential dissenters. But the Gulf's biggest unrest by far ? a 21-month-old revolt against Bahrain's Western-allied monarchy ? shows no sign of easing and poses some the same quandaries as Kuwait for Washington: the need to maintain critical security alliances, but also to pay attention to shifting political forces in the region.
"There is a danger that the tensions between a ruling family (in Kuwait) intent on preserving its power and privilege and an energized opposition bent on security meaningful reform might escalate into open confrontation," said Kristian Coates-Ulrichsen, a research fellow who follows Gulf affairs at the London School of Economics.
"The example of Bahrain shows how everyone loses out in this scenario," he added, "but that alone is no guarantee that Kuwaitis can or will pull back from the brink."
Kuwait's protest alliance is held together by claims that the emir Al Sabah overstepped his authority by changing voting laws in an apparent attempt to undermine opposition and reformist electoral chances. Beyond that, there are a wide range of demands from all the different factions involved in the boycott, from Islamists wanting a greater say in the government to liberals wanting more openness in general.
The showdowns take forms similar to those in other parts of the region: clampdowns on Web activists and arrest sweeps against perceived backers of the Muslim Brotherhood, an Islamist group that now leads Egypt and has a resurgent profile since the Arab Spring.
Last week, Kuwait's Interior Ministry announced the arrest of four people on charges of insulting the emir with posts on Twitter. Similar arrests have taken place across the Gulf and, earlier this month, the United Arab Emirates imposed new Internet laws that can bring jail time for Web posts deemed offensive to rulers.
Kuwaiti authorities also have echoed fears from other Gulf palaces over what they view as expanding threats from the Muslim Brotherhood. Dubai's police chief, Lt. Gen. Dahi Khalfan Tamim, has warned of an "international plot" to overthrow the Gulf rulers.
The Islamists in Kuwait ? while a powerful force ? insist they are a distinctive, homegrown group that does not seek to topple the ruling system but wants a greater say in how the country is run. Their critics worry that this means a push toward stricter Islamic codes such as limits on non-Muslim worship or censoring artists and writers in one of the most politically open societies in the Gulf.
The past year has brought almost nonstop ? and highly complex ? political turmoil.
Islamists and their tribal allies won parliament elections in February and immediately pushed for greater clout in policy-making affairs. The Constitutional Court later disbanded parliament amid claims of flaws in the electoral district map, and reinstated the former government-friendly chamber from elections in 2009. That body, however, never managed to convene a session.
To further complicate things: The emir stunned the nation by wiping out the country's unusual four-votes-per-person system in favor of the standard one vote. Opponents say the new formula dilutes the ability of opposition groups to forge alliances and will increase the risks of vote buying and bribery.
"We will have puppetry, not a real parliament," said Mohammed al-Hatlani, a former lawmaker supporting the election boycott.
Liberal and youth groups ? while deeply opposed to the Islamist agenda ? have joined the boycott drive as a way to press for their Arab Spring-inspired demands for greater political and social freedoms. The unexpected alliance with Islamists and conservative tribes has startled even veterans of Kuwait's pugnacious politics.
Abdullatif al-Duaij, a prominent Kuwait liberal figure now living in the U.S., worries that fellow liberals looking for more openness have "lost their compass" by siding with the Islamists and others pushing the boycott.
"Today it's either you vote or you don't," he said. "There is nothing in between."
A series of protests and street clashes in recent months led the emir to order a ban on political gatherings of more than 20 people. In a message last week, he tried both threats and patriot appeals to cool down tensions.
"It is a great tragedy to have calls to take to the street," the emir said in comments carried by the official Kuwait News Agency. "Why the chaos and riots? Why the screaming and wailing and disrupting the business of the state and harming the interests of the people?"
It's all likely to leave Kuwait even more politically fractured and the new parliament facing challenges over its legitimacy.
In most of the Gulf, a parliament under pressure would matter little since elected bodies have very limited powers. Kuwait, however, stands out. Its 50-seat parliament has wide authority to pass laws and question ? or even dismiss ? members of the government.
Opposition lawmakers have publicly accused top officials, including members of the ruling family, of charges such as corruption and attempts to muzzle dissent. But even many protesters were stunned last month when an opposition leader, Musallam al-Barrack, broke taboos and openly denounced the emir. He was later arrested.
"He crossed all the red lines and shattered the boundaries of permissible opposition," said the researcher Coates-Ulrichsen. "The experience from North Africa and elsewhere in the Arab Spring shows that once these barriers are broken it is impossible to reconstruct them."
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