Category: Taxes

Barack Obama Tells Germany Not To Abandon Their Auto Industry

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Robert Farago quoting President Obama:

“As for our auto industry, everyone recognizes that years of bad decision-making and a global recession have pushed our automakers to the brink. We should not, and will not, protect them from their own bad practices.



“But we are committed to the goal of a re-tooled, re-imagined auto industry that can compete and win. Millions of jobs depend on it. Scores of communities depend on it. And I believe the nation that invented the automobile cannot walk away from it.”

An Interview with FedEx CEO Fred Smith

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SF Chronicle:

Frederick W. Smith, the founder, president, chairman and CEO of FedEx, built the first overnight express delivery company in the world, starting in 1971. Today, FedEx, based in Memphis, has service in more than 220 countries and territories.


Like most other businesses, FedEx is encountering economic turmoil and is operating by Smith’s belt-tightening orders. He cut his own salary by 20 percent.


Legend has it that Smith, 64, outlined his concept for FedEx in a paper in an economics class at Yale University for which he earned a C. (He corrects the record in this interview.) At Yale, he was a friend and fraternity brother of former President George W. Bush, to whom he believes history ultimately will be more kind.



In the Marine Corps in Vietnam, Smith received the Silver Star, the Bronze Star and two Purple Hearts as a platoon leader and forward air controller. It was there that he observed military procurement and delivery procedures and thought he could improve on them.



Smith is unwavering in his belief that U.S. corporate tax policy must change, but practical enough to know that the new administration and Congress will not go along with the idea. He still believes one aspect could be enacted – accelerating the expensing of capital investment that would put money into corporate hands sooner.

Recovery.gov is Web 1.0; Stimuluswatch.org is Web 2.0

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Larry:

President has signed The American Recovery and Reinvestment Act of 2009, which includes $7.2 billion for broadband access. You can see a brief summary of the bill here.

As we have seen, the Obama administration hopes to use the Internet for transparent, two-way communication with the public. To this end, they have launched the Recovery.gov Web site, which will be continuously updated, telling us “how, when and where” the recovery funds are spent.

As of today, Recovery.gov is definitely a Web 1.0 site — it summarizes the Recovery Act, requests comments using an email form, and asks us to check back frequently for data on spending. They don’t even have RSS feeds.

Contrast that with Stimuluswatch.org, a Web 2.0 site. Stimuluswatch began by importing a database of “shovel ready” projects that was posted by the US Conference of Mayors. Users can search the database by city, keyword and project type, and view the project descriptions and estimated cost and number of jobs created.

Federal Government Contracts: Wisconsin’s 2nd Congressional District

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USASpending.gov:

Top 5 Contractors
Wisconsin Physicians Service Insurance Corporation $161,241,933
Didion Milling, Inc. $28,254,732
University of Wisconsin System $21,021,695
Facility Leaders In Architectural/Engineering Design, P.C. $20,405,886
Metastar Inc $19,600,777

Complete list of 2nd Congressional District contractors.

Top 5 contractors: State of Wisconsin:

Top 5 Contractors
Oshkosh Corporation $1,481,203,487
General Electric Company $248,269,326
The Manitowoc Company Inc $178,329,866
Wisconsin Physicians Service Insurance Corporation $161,241,933
National Presto Industries, Inc. $125,773,563

Complete list of 2008 Wisconsin contractors.

A Comparison of the House & Senate Stimulus/Splurge Bills

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Josh Tauberer @ Govtrack.us:

One of the concrete benefits of open government data is that third parties can use the data to do something useful that no one in government has the mandate, resources, or insight to do. If you think what I am about to tell you below is cool, and helpful, then you are a supporter of open government data.

On my site GovTrack, you can now find comparisons of the text of H.R. 1, the stimulus bill, at different stages in its legislative life — including the House version (as passed) and the current Senate version (amendment 570).

The main page on GovTrack for HR 1 is:
http://www.govtrack.us/congress/bill.xpd?bill=h111-1
Here’s a direct link to the comparison:
http://www.govtrack.us/congress/billtext.xpd?bill=h111-1&version=as2&compareto=eh&view=side:

Comparisons are possible between any two versions of the bill posted by GPO. Comparisons are available for any bill.

If you find this useful, please take a moment to consider that something like this is possible only when Congress takes data openness seriously. When GPO went online and THOMAS was created in the early 90s, they chose good data formats and access policies (mostly). But the work on open government data didn’t end 15 years ago. As “what’s hot” shifts to video and Twitter, the choices made today are going to impact whether or not these sources of data empower us in the future, whether or not we miss exciting opportunities such as having tools like the one above.

(Thanks to John Wonderlich and Peggy Garvin for some side discussion about this before my post. GovTrack wasn’t initially picking up the latest Senate versions because GPO seems to have gone out of its way to accommodate posting the latest versions before they were passed by the Senate, which is great, but caught GovTrack by surprise.)

Josh Tauberer

A Guide To Bailout Transparency Sites

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Elinore Longobardi:

It is no secret that bailout transparency is a problem.

Now that taxpayers have become financiers, we have a right to know where the money is going. In search of organizations with the curiosity and resources to help figure that out, we trolled the Internet for good, easily available bailout information and came up with several sites worth looking at.

You can get charts describing the allocation of bailout money from a variety of sources. Some are easier to find than others, and we’ll leave it up to the reader to figure out what it means that the WSJ has a quick link for the Super Bowl but not the bailout.

But even after you find them, charts will only get you so far.

If you are looking to understand the big picture, you should go first to organizations that focus specifically on tracking the bailout. Not only do they piece together information from a variety of sources, saving you the trouble, but a few also do their own snooping around.

A good place to start is Open the Government, an organization devoted to greater government transparency in general, and with a specific page on the bailout. The page is a good launching pad because it compiles a lot of information—from government organizations, news outlets and watchdogs—as well as providing a calendar of relevant dates. In the spirit of common cause, Open the Government also links to other bailout watchdog groups.