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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?


To: Kenneth E. Phillipps who wrote (460659)9/17/2003 5:18:35 PM
From: Hope Praytochange  Respond to of 769667
 
<<The bill, passed 408-13, is the legislative offspring of President Bush's effort to give religious organizations federal money and encourage them to take a bigger role in providing social services.>>>
House Passes More Than $12B in Tax Cuts
By THE ASSOCIATED PRESS

Filed at 5:01 p.m. ET

WASHINGTON (AP) -- The House on Wednesday passed more than $12 billion in tax cuts to encourage charitable giving, while some Democrats said the bill's generosity will cost future generations billions in extra debt.

The bill, passed 408-13, is the legislative offspring of President Bush's effort to give religious organizations federal money and encourage them to take a bigger role in providing social services.

Majority Whip Roy Blunt, R-Mo., said the tax breaks will encourage $45 billion to $50 billion in additional charitable donations over the next decade.

``It's really about $50 billion -- $50 billion that the American people decide they want to give to charities to help their fellow citizens,'' he said.

The biggest tax break gives new charity-contribution incentives to taxpayers who can't deduct charitable donations from their taxes because they don't itemize their deductions. Taxpayers using the standard deduction could deduct up to $250 in charitable contributions. The new deduction would be in effect for two years.

Rep. Harold Ford, D-Tenn., said the new deduction will reward those who regularly give small amounts to their churches or other local charities.

``They want to give, but they also want to have money to pay the bills,'' Ford said. ``This bill is one way we can empower people to give more to charity, for it empowers those whose compassion runs deep, especially those who do not have deep pockets.''

Other Democrats praised the bill but argued that its $12.7 billion, 10-year cost should be paid for by shutting down corporate tax shelters. The Senate's version of the bill, passed in April, included language targeting illegal tax shelters and would cost the Treasury nothing.

``For every tax cut we give today, it goes on the deficit, and your kids and your grandkids are going to pay for it,'' said Rep. Jerry Kleczka, D-Wis., calling himself ``the skunk at the picnic.''

``The plain, simple fact is, it's nice but we can't afford it,'' he said.

The House rejected, 220-203, a Democratic effort to push a bill similar to the Senate's. The Senate reduced the bill's cost to zero by balancing the new tax breaks with a ban on transactions corporations use solely to reduce their taxes but which have no apparent business purpose. Blunt said lawmakers have not yet scheduled a meeting to work on a compromise between the House and Senate bills, but he said he expected the bill will be completed and sent to the president later this year.

The House on Wednesday also passed a bill permanently banning taxes on Internet access.

The charitable giving bill changes the rules governing charitable foundations, which are required to donate 5 percent of their assets to charity each year. Some administrative expenses, including salaries over $100,000 and first-class airfare, would be excluded from the 5 percent gift calculation.

Other portions gradually increase tax-deductible donations for corporations from 10 percent of taxable income to 20 percent by 2012. Companies could also get tax breaks for donating food, scientific equipment and computers.

Rep. Mark Green, R-Wis., praised language in the bill encouraging companies to increase their donations to religious organizations. He pointed to a study by the Capital Research Center, a group that argues the growth of government has increasingly eroded volunteerism, which said six of 10 largest corporations ban or restrict contributions to faith-based organizations.

``Many of our nation's largest foundations have a bias against giving to the community of faith,'' he said. ``Let's hope that the public, let's hope that shareholders demand a change.''

^------

The bill is H.R. 7



To: Kenneth E. Phillipps who wrote (460659)9/17/2003 5:22:41 PM
From: PROLIFE  Read Replies (2) | Respond to of 769667
 
E S S A Y
What Makes The Bush Haters So Mad?

First, it was how he got the job. Now it's how much he's doing with it
By CHARLES KRAUTHAMMER



Monday, Sep. 22, 2003
Bill Moyers may have his politics, but his deferential demeanor and almost avuncular television style made him the Mr. Rogers of American politics. So when he leaves his neighborhood to go to a "Take Back America" rally and denounces George W. Bush's "government of, by and for the ruling corporate class," leading a "right-wing wrecking crew" engaged in "a deliberate, intentional destruction of the United States way of governing," you know that something is going on.

That something is the unhinging of the Democratic Party. Democrats are seized with a loathing for President Bush — a contempt and disdain giving way to a hatred that is near pathological — unlike any since they had Richard Nixon to kick around. An otherwise reasonable man, Julian Bond of the N.A.A.C.P., speaks of Bush's staffing his Administration with "the Taliban wing of American politics." Harold Meyerson, editor at large of The American Prospect, devotes a 3,000-word article to explaining why Bush is the most dangerous President in all of American history — his only rival being Jefferson Davis.

The puzzle is where this depth of feeling comes from. Bush's manner is not particularly aggressive. He has been involved in no great scandals, Watergate or otherwise. He is, indeed, not the kind of politician who radiates heat. Yet his every word and gesture generate heat — a fury and bitterness that animate the Democratic primary electorate and explain precisely why Howard Dean has had such an explosive rise. More than any other candidate, Dean has understood the depth of this primal anti-Bush feeling and has tapped into it.

Whence the anger? It begins of course with the "stolen" election of 2000 and the perception of Bush's illegitimacy. But that is only half the story. An illegitimate President winning a stolen election would be tolerable if he were just a figurehead, a placeholder, the kind of weak, moderate Republican that Democrats (and indeed many Republicans) thought George Bush would be, judging from his undistinguished record and tepid 2000 campaign. Bush's great crime is that he is the illegitimate President who became consequential — revolutionizing American foreign policy, reshaping economic policy and dominating the political scene ever since his emergence as the post-9/11 war President.

Before that, Bush could be written off as an accident, a transitional figure, a kind of four-year Gerald Ford. And then came 9/11. Bush took charge, declared war, and sent the country into battle twice, each time bringing down enemy regimes with stunning swiftness. In Afghanistan, Bush rode a popular tide; Iraq, however, was a singular act of presidential will.

That will, like it or not, has remade American foreign policy. The Bush Revolution in Foreign Policy is the subtitle of a new book by two not very sympathetic scholars, Ivo Daalder and James Lindsay. The book is titled America Unbound. The story of the past two years could just as well be titled Bush Unbound. The President's unilateral assertion of U.S. power has redefined America's role in the world. Here was Bush breaking every liberal idol: the ABM Treaty, the Kyoto Protocol, deference to the U.N., subservience to the "international community." It was an astonishing performance that left the world reeling and the Democrats seething. The pretender had not just seized the throne. He was acting like a king. Nay, an emperor.

On the domestic front, more shock. Democrats understand that the Bush tax cuts make structural changes that will long outlive him. Like the Reagan cuts, they will starve the government of revenue for years to come. Add to that the Patriot Act and its (perceived) assault on fundamental American civil liberties, and Bush the Usurper becomes more than just consequential. He becomes demonic.

The current complaint is that Bush is a deceiver, misleading the country into a war, after which there turned out to be no weapons of mass destruction. But it is hard to credit the deception charge when every intelligence agency on the planet thought Iraq had these weapons and, indeed, when the weapons there still remain unaccounted for. Moreover, this is a post-facto rationale. Sure, the aftermath of the Iraq war has made it easier to frontally attack Bush. But the loathing long predates it. It started in Florida and has been deepening ever since Bush seized the post-9/11 moment to change the direction of the country and make himself a President of note.

Which is why the Democratic candidates are scrambling desperately to out-Dean Dean. Their constituency is seized with a fever, and will nominate whichever candidate feeds it best. Political fevers are a dangerous thing, however. The Democrats last came down with one in 1972--and lost 49 states.

From the Sep. 22, 2003 issue of TIME magazine



To: Kenneth E. Phillipps who wrote (460659)9/17/2003 5:27:30 PM
From: PROLIFE  Read Replies (1) | Respond to of 769667
 
usatoday.com



To: Kenneth E. Phillipps who wrote (460659)9/17/2003 5:31:50 PM
From: Thomas A Watson  Respond to of 769667
 
LOL, what act by anyone did anything and explain how you connect the dots to show a positive return on equity.

On the history channel there is a new series called tactical to practical. Now that shows how investments in military related technology create practical technology the yields incredible returns to all Americans.

Consider how radar now gives prep times for storms and saves millions of dollars and lives.



To: Kenneth E. Phillipps who wrote (460659)9/18/2003 10:59:12 AM
From: Hope Praytochange  Read Replies (1) | Respond to of 769667
 
Stocks Move Higher on Encouraging Data
By THE ASSOCIATED PRESS


Filed at 10:39 a.m. ET

NEW YORK (AP) -- Encouraging jobs data and a largely upbeat estimate of future economic activity lifted stocks Thursday.

News that New York Stock Exchange chairman Dick Grasso resigned amid criticism of his $139.5 million pay package had little, if any, effect on trading.

In morning trading, the Dow Jones industrials rose 32.01, or 0.3 percent, to 9,577.66.

The broader market also moved higher. The Nasdaq composite index gained 3.63, or 0.2 percent, to 1,886.73. The Standard & Poor's 500 index rose 4.41, or 0.4 percent, to 1,030.38.

Grasso's departure was somewhat expected, given the growing furor outside and on Wall Street about what some viewed as his excessive compensation. But the market was more interested Thursday in economic news suggesting the recovery was progressing.

The Index of Leading Economic indicators, a closely watched gauge of future economic activity, rose 0.4 percent in August to 113.3. The figure was in line with analysts' expectations, and followed a revised 0.7 percent increase in July, but the assessment by the Conference Board also showed the current business climate had stalled.

Wall Street also was cheered by a Labor Department report that new claims for jobless benefits fell by a seasonally adjusted 29,000 to 399,000 for the work week ending Sept. 13. It was the lowest level of claims since the week ending Aug. 23, and marked the first time since then that claims dipped below the 400,000 mark.

German pharmaceutical maker Bayer surged $1.35, or 6 percent, to $23.65 on news a federal judge had denied class-action status to several thousand lawsuits against the company over its anticholesterol drug Baycol.

The market shrugged off news of contract agreements between autoworkers and General Motors Corp. and Delphi Corp. GM fell 19 cents to $41.4850, while Delphi lost 5 cents to $9.61.

Advancing issues outnumbered decliners 6 to 5 on the NYSE, where volume came to 162.16 million shares.

The Russell 2000 index, which tracks smaller company stocks, rose 0.34, or 0.1 percent, to 515.44.

Overseas, Japan's Nikkei stock average finished Thursday up 0.4 percent. In afternoon trading in Europe, France's CAC-40 was off nearly 0.1 percent, Britain's FTSE 100 rose 0.2 percent and Germany's DAX index advanced 0.9 percent.

^------

On the Net:

New York Stock Exchange: nyse.com

Nasdaq Stock Market: nasdaq.com



To: Kenneth E. Phillipps who wrote (460659)9/18/2003 11:00:43 AM
From: Hope Praytochange  Respond to of 769667
 
Message 19317832