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Us versus Them – Put It to an End

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The last week has been hard in the US. It’s been especially hard here in St Paul, the nearest large city to Falcon Heights. That is where St Paul resident Philandro Castille was gunned down at a traffic stop, and the city that has seen the brunt of the protests as his home and the capitol of the state.

More than the horror of this shooting and the protests which turned ugly afterwards, the situation appears to be spinning out of control. For those of us who support the Black Lives Matter movement as well as our excellent St Paul Police there is a lot to be concerned about.

If cooler heads prevail, as they usually do in this city, we’ll be allright. But we have to keep our eyes on the prize and no longer accept the “Us versus Them” mentality destroying our nation.

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Corporate Taxes

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What is a fair corporate tax? It’s a hot political topic, but one loaded with a tremendous amount of mis-information. On the left, it’s common to cite “loopholes” which allow corporations to “offshore” profits and dodge taxes as a result of corporate lobbying. On the right, the extremely high corporate tax rate of 38%, nearly double the worldwide average, is cited as a major problem.

Both statements are greatly limited at best. US corporate tax law does not contain “loopholes” but a series of structural deficiencies derived primarily from being hopelessly antiquated. Any discussion of the tax rate misses the main issues entirely, as the definition of “profit” – more accurately, definition of “income” and “expense” – is the core issue.

Any reasonable discussion of corporate taxes has to start with the fundamentals. What is a corporation? What is profit? Who benefits? What needs to be done?

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About Those E-mails …

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Today was a big day for campaign news, in that nothing happened. Clinton was not indicted for her mis-handling of emails, nor did we learn anything new. It’s all over but the ranting, so we’ll pause for a moment so that you can get your share in.

[ shouting, sharing of angry memes, deep sighs, et cetera ]

Feel better? Be sure to wipe off the screen when you’re done. Because whether you believe this was purely one more witch hunt or evidence of a rigged system, you probably are better off getting it off your chest. Better in the sense that you’re probably wrong – there was something to this, but it was never going to end up in an indictment.

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Big Ideas Fall Apart

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The dust continues to settle after the Brexit earthquake. US markets stabilized today, but it appears to be a “dead cat bounce” or a technical upturn as short positions are covered. It comes from the saying that even a dead cat will bounce up one story after falling off a ten story building. It certainly feels like that kind of week, especially if you think about whatever dead animals might account for the ridiculous hair of Donald Trump and/or Boris Johnson.

Then again, it hasn’t been a week yet.

For all the comparisons between this vote and the Trump phenom, they still don’t do this situation justice. People all over the world are recoiling from opening up markets and generally moving closer together. The threat to the EU is far from done as “euroskeptics” on the continent will certainly be emboldened – as will globalskeptics around the world. What has gone wrong?

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Brexit Blowup

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The vote went for Brexit. The hounds of chaos have been unleashed. Is this a harbinger of a Trump victory in November? Political trends in the US have first shown in the UK before, with Margaret Thatcher predating Ronald Reagan and Tony Blair arriving before Bill Clinton. More importantly, the polls were as wrong on Brexit as they were on Cameron’s big win in the last Parliamentary elections. Is this a sign?

The short answer is “Yes”, but the long answer is “No”. This has a long way to play out before the US votes, and we don’t yet know what will happen. There will be a lot more anarchy in the UK and the final lesson is far from written.

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