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US Drought: an untold tax story

We've been told most grain producers have crop insurance to cover their losses during catastrophes like drought. And that might lead some to believe all's well in the heartland. But it's not good news. Even if farmers are made whole by their insurance policies, the grain shortages are going to ripple through food and fuels markets in ways we can't imagine. And nobody's talking about it. Many of us rightly believe the drought will increase food and fuel prices at a time when unemployment is at its highest level since the Great Depression -- and those that do have jobs have seen their wages stagnate at generational lows. That is indeed difficult to swallow. But that's not the scary part. Did you know that taxpayers, not insurance companies, hold the lion's share of the exposure to crop insurance liabilities? Iowa State University economics professor Bruce Babcock has said that 50 percent to 80 percent of underwriting losses will be shouldered by

The mini pad

I want a a super-handy, single-handed device that's more usable than iPhone & iPod. I've been very seriously considering buying Google's Nexus 7 tablet because it has a larger-than-iPod screen and its Android implementation is not crippled like the ones other retailers are pushing. Then, today, seemingly reliable reports that Apple is definitely announcing a mini version of the iPad with a 7.85-inch screen that'll sell for significantly less than iPad's $499 tag. That's according to "several people with knowledge of the project who declined to be named discussing confidential plans." Apple spokeswoman Natalie Kerris said, "No comment."

Invest in the Cayman Islands

Whether you're a non-profit or a presumptive GOP Presidential nominee, the conventional belief is that you put money in Cayman Islands accounts to keep the prying eyes of the U.S. government away from those investments, which is only important if you want to avoid U.S. taxes. The reason United States Senator Charles Grassley (R-Ia.) distinguishes between a non-profit and a Presidential candidate escapes me. Wouldn't such a practice be slimy in either case? Sorry, Senator. I hate to throw your own words back in your face, but if those words were meaningful for a non-profit, then they are also fair game for anyone running for public office. I get it. My ex wife hated it when I'd repeat her words, mainly because she preferred I'd forget about her inconsistencies. I don't see the dishonesty in taking Grassley's remarks made in 2010, disparaging offshore investments made by a non-profit, and applying them to an offshore investor who wants to lead this coun

Healthcare: we're missing the point

The problem with the healthcare conversation in this country is the way we make presumptions about what it is and should be. First and foremost, medicine has become a profit center for large corporations and the super rich. I heard a political pundit last Sunday suggest it's a problem that sick people are showing up at the doctor's office without healthcare insurance. There's never even a remote possibility that the patient might pay for services rendered. And that's a new dynamic that took hold in my lifetime. In 1958, when my mother gave birth to my oldest brother, the doctor and hospital bills combined equalled two weeks' of my dad's salary. That reveals two major changes in medicine in the last half-century: costs have tremendously outpaced inflation and the patient-as-the-payer model is dead. Secondly, health care professionals have resisted modern technology that would improve both the quality and accessibility of health care. In the tech and s

The death of local radio

The title is a cliche that has become the bitter moniker of the displaced and disgruntled local radio personality and the signs are pointing to more dramatic reductions in local facilities, considering the recent bolstering of centralized management teams and infrastructure. No one should be surprised when radio leaves Main Street USA; it's been coming for 16 years. If you work in local radio and you're 25 or younger, your grandchildren may not believe you when you tell your stories about local radio. "They did what with 100,000 watts? And a thousand-foot tower? That's stupid!" I took a four year hiatus from radio in the nineties and when I returned, the carts and card catalog were gone and automation had been rolled out and the the President had just signed the 1996 telecommunications bill, essentially opening the door for the massive corporatization of my beloved career. What happened in '96 was not the death of local radio, but the seeds of a gradu

Why the gas tax is unfair to wage earners

 When the state tacks fees on the price of a gallon of gas, it's punishing a class of people that are not only the least deserving, but the weakest element of the government. The wage earner. The reason we, the weak, are taxed in the first place is because we don't have the power to fight back. The US Supreme Court recently ruled that corporations are sovereign entities above and beyond the individuals that comprise them by upholding their ability to speak with a louder, more pervasive voice in government via campaign contributions. That gives the very rich incredible influence in government that the rest of us cannot access. The reason the wage earner, the people that drive their cars for reasons of personal travel or to get to their jobs and many other non-commercial reasons, should not have to pay a gas tax is because they cause a minuscule amount of wear and tear on the roads in comparison to that of commercial users. The unmistakable beneficiary of our roads are the c

Free digital TV means $140 in monthly savings

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I always threatened to cancel my cable TV subscription, but when my bill jumped from $78 to $140 a month, it was suddenly a lot easier to return the gear to Mediacom and end the relationship. What I had not fully realized was that 95% of what I watch is free.  In fact, all the top shows are in fact broadcast OTA (over-the-air).  What am I missing?  I can't watch Mad Men and The Daily Show at their initial air times anymore, but for $9 (Netflix) I can catch up on almost any cable show, like Mad Men, and there's a free app for The Daily Show. For the sake of full disclosure, I had to replace the Internet connection my cable company provided as a part of their $140 package.  I found a company that provides DSL for $45/mo.  And I still have my Tivo DVR, so that's another $129/yr ($10.75/mo).  I can drop that (see below) and still enjoy all my shows.  Finally, my phone bill is $45 a month.  I'm keeping that. What you need to cut the cable: $35 TV antenna (and the