Attack Rabbit Presidency
President Obama doesn’t have a strategy. The Washington Post editorial board calls him the “can’t do president“.
One thing the president can do is raise funds. He’s spending his holiday week-end doing just that for Democrats. He’s not alone on the fundraising circuit. Jimmy Carter will be hosting Hamas at a dinner in Detroit with the Islamic Society of America.
Beware the Attack Rabbit
Jimmy Carter’s troubled presidency jumped the shark when an attack rabbit evaded security and tried to whack him in a fishing boat. John Kass in the Chicago Tribune thinks Obama has reached the bunny hop threshold. (Here’s a link but you may have to subscribe.)
Climate Shame
The president is going it alone on a climate plan. Well, not exactly alone. He’s working it out with the UN. It’s just that Congress won’t be involved.
Name and Shame
The idea is to hammer out a plan for carbon reduction for the entire “international community”. But without Senate approval the agreement won’t have the force of law (see Kyota). If the plan isn’t legally binding what keeps it from being a toothless piece of paper? It will be a “politically binding” agreement. International Community members will be shamed into compliance.
Economic Patriotism
President Obama’s favorite billionaire is making a run for the border. Warren Buffett’s Berkshire Hathaway will finance Burger King’s purchase of Canadian donut dynamo, Tim Hortons.
Economic Patriotism
As a Canadian operation, Burger King will still have to pay US corporate taxes on earnings inside the United States. But earnings outside the US will only be taxed at the rate of the country where they occur. US companies have to pay taxes in the countries where they operate and also must pay IRS the difference between those rates and the US rate. The Obama administration calls this economic patriotism.
Burger King’s move is called a tax “inversion”. Matt Levine gives a great explanation in this Bloomberg article.
The US corporate rate, including state and local taxes comes to about 40%. That’s the highest in the world outside the Islamic State jizya. Roberto A. Ferdman provides a nice chart in the Washington Post showing the tax rates of the 34 OECD countries.
The nominal corporate tax rate in the U.S., which combines national, state, and city-level tax rates, is nearly 40 percent—the highest across all 34 Organization for Economic Cooperation and Development (OECD) member countries. Canada’s, by comparison, is just over 26 percent.
JV Team
Back when President Obama was bragging that core Al Qaeda had been destroyed, he dismissed ISIS as a terror JV team. Now the JV team is rich and armed with American military hardware. It controls territory in Iraq and Syria. And it’s as comfortable with social networking as it is with beheading.
Last week Defense Secretary Hagel had this to say about the JV team: “This is beyond anything that we’ve seen” … “The sophistication of terrorism and ideology married with resources presents a whole new dynamic and paradigm of threats to this country.”
Joint Chiefs Chairman General Dempsey added, ““This is an organization that has an apocalyptic, end-of-days strategic vision which will eventually have to be defeated.” He also said ISIS would have to be attacked in Syria to be destroyed.
JV
By Monday it wasn’t clear that the White House was on board with Dempsey’s assessment.
Apocalyptic though it may be, Dempsey now says ISIS is not a “direct threat” to the U.S. and he won’t propose bombing in Syria until it is.
The president is evolving.
Johnny Football Hand Signals
Johnny Football hype met reality when the NFL fined Manziel $12,000 for flipping the bird to the Washington Redskins bench. Washington players were amused by the gesture. The commissioner, not so much.
