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Thursday, November 16, 2017

The Writer's Life 11/16 - General Accounting

In his business column in today's NY Post, John Crudele puts a damper on the proposed cut in the business tax, claiming the current rate, 35%, is fake or, at least, a phantom figure, which I've dubbed the debt ceiling. He cites stats issued by the federal government's General Accounting Office that claim corporations receive deductions that lower their rates significantly. In recent years IBM has paid 10%, Apple 12.5%, GE 2.3%. Crudele cites Microsoft as good corporate citizen, having paid 34.2%. He concludes that lowering the rate will be meaningless. I have no problem with companies doing all they can - legally - to reduce expenses. My concern in this situation is that lowering the rate will be a dead end, which is a real bummer, as it seems America will never escape the economic doldrums it has suffered for a decade. According to articles I've read, the GAO is often wrong, although that seems unlikely in this case of simple math. In past articles Crudele has suggested a plan to boost the economy that seems sensible - allowing people to borrow from retirement accounts tax-free, which would subsequently incite a spending spree that would increase tax revenue. In 1981 the cut to the corporate rate led to a boom, but back then the rate was an astronomical 70%, at first reduced to 50%, eventually to 28%. That was radical change. I almost wish I hadn't read the article.

That was this morning. I just heard the news that iconic liberal Senator Al Franken has been accused of sexual misconduct by two women. That made my day, although I'm sure there will be conservatives who will be outed before all this blows over.



At least a quarter of last night's episode of Seal Team was devoted to the training candidates undergo. If it's akin to reality - wow! I went to IMDb to see if the series' creator, Benjamin Clavell, is ex-military. There is no information on it anywhere on the web, at least that I could find, nor is there any in that regard about the author of the teleplay, Corinne Marrinan. I was surprised it was done by a woman. She has an impressive list of writing credits in TV, also in production. I would be surprised if there are no consultants on the set, as the show seems authentic, at least to this viewer, who has no military experience.

My thanks to the couple who bought five books in Russian, to the woman woman who purchased one; to the one who did a two-for-two swap of them; to the gentleman who selected John Sandford's Rough Country and Mario Puzo's Omerta; and to Marty, who returned to pick up three more Elvis Presley albums on vinyl. He hooked up his phonograph and played the other two he'd bought, and said the owner took good care of them. Coincidentally, today I gave my record player to Andy, one of the MTA's go-to electricians for major problems. It was just gathering dust in my apartment. Later, I had a good laugh when Mountain Man and Mark, retired postal employees, discussed idiotic managers they endured on the job. Mark said one employee, chronically late or absent, who claimed he was unable to get to work on a stormy day, was asked to submit proof. The next morning he showed up with the branch of a tree, and was let off the hook. Alas, he was eventually fired.
Vic's Sixth novel: http://tinyurl.com/zpuhucj 
Vic's Short Works: http://tinyurl.com/jy55pzc
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