Today in 1899, the world’s first jukebox was installed at the Palais Royal Hotel in San Francisco.
Today in 1899, the world’s first jukebox was installed at the Palais Royal Hotel in San Francisco.
My high school political science teacher writes:
I taught high school history and social studies classes for thirty-five years. For almost all of those years I taught required 9th grade US history classes. Eventually I got pretty good at it. Each quarter one of the units involved the production of an essay that propounded a thesis, supported the thesis with evidence properly footnoted, and a conclusion flowing from the argument. Since these were 9thgraders I supplied packets of primary and secondary sources for them to use although they were free to find other materials. Of the topics I gave them the most popular by far was the assassination of JFK. Since I used that subject year after year I became very familiar with the various conspiracy theories and the evidence (or, rather, the lack thereof) supporting them. There is really no reason to believe that Lee Harvey Oswald was not the only shooter that day in Dallas. All of the alternate theories were answered long ago and it requires a genuine unwillingness to consider the evidence to believe otherwise. Peter Jennings’ ABC documentary (2003) effectively dealt with all of the questions regarding a second gunman or an alternate assassin firing from somewhere other than the Schoolbook Depository. A thorough debunking of the various conspiracy theories can be found in Gerald Posner’s Case Closed: Lee Harvey Oswald and the Assassination of JFK (1993). If your understanding of the issues is based on Oliver Stone’s movie, look further.
The President has decided to release the remaining documents relating to the investigation of the assassination. As of [Oct. 28] he has ordered that all those remaining should be released holding back only the names and addresses of people still living. I predict that nothing new of importance will be revealed. Was Oswald himself part of a conspiracy? People who know the most about him are doubtful that he could have worked in concert with anyone. From today’s London Times:Farris Rookstool, a former FBI analyst who spent nine years reading 500,000 pages of documents in the bureau’s Kennedy collection, said the notion that Russia controlled Oswald was seductive but flawed.“I did the interviews with the KGB, the first FBI-authorised face-to-face meetings, and I can tell you they thought Oswald was just as crazy as we did. I don’t think they were trying to wash their hands of being involved with him but they were just being very candid. Oleg Nechiporenko [a KGB officer who also met Oswald in Mexico City] said they called him ‘the Tornado’ because he was spiralling out of control.“If you strip Oswald down and look at him as just a human, he had antisocial personality disorders, he had a childlike understanding of world history and he didn’t take orders very well.“When he was in Russia they did a two-year electronic surveillance on him and they finally realised the guy was an idiot. They thought this guy is obviously not an American double agent or false flag or a dangle. When they folded their operation over there they gave him 72 hours to leave the country.”There are still people who believe Stanton had Lincoln assassinated or that Spain blew up the Maine in Havana harbor and there will always be people who think a professional assassin might have chosen an exposed position behind the wall of a public parking lot and fired over the heads of people lining a parade route.
Today in 1963, the Beatles released their second album, “With the Beatles,” in the United Kingdom.
That same day, Phil Spector released a Christmas album from his artists:
Given what else happened that day, you can imagine neither of those received much notice.
“We’re going to give the American people a huge tax cut for Christmas. Hopefully that will be a great, big, beautiful Christmas present,” said Mr. Trump. “Corporate rate will be reduced from 35 percent all the way down to 20 percent, which will make us competitive again, and companies won’t be leaving our country.” He added that “our tax plan will return trillions of dollars in wealth to our shores so that companies can invest in America again.”
Overseas, there seems to be some concern that Mr. Trump and tax reformers in Congress are about to do exactly that. The long-running Cantillon column in the Irish Times noted over the weekend that Thursday’s U.S. House vote to cut taxes “is highly significant” and that most Republicans in America “are united behind reforming the corporate-tax system.” The column in the Dublin-based newspaper added:
This is unsettling for Ireland. Addressing the House this week, Paul Ryan – a proud Irish-American – cited the example of Johnson Controls, a company that has had roots in his home state of Wisconsin since the 1880s but is now based in Ireland. The new tax system will help make the United States “the most competitive place in the world”, he said. Worrying words for Ireland.
This is the corporate taxation equivalent of the New England Patriots suddenly becoming concerned about the competitive threat posed by the Cleveland Browns. With its 12.5% tax rate on business income, Ireland has for years been pulling corporate headquarters away from the United States and attracting investment from all over the planet. Ireland routinely has the fastest-growing economy in the euro zone, so we can only imagine how Europe’s also-rans feel about the prospect of the U.S. economy suddenly becoming much more competitive.
Some Europeans have been urging us for years to get our house in order. An official with the Organization for Economic Cooperation and Development, a Paris-based association of industrialized economies, co-authored a 2016 diagnosis of the U.S. problem:
The United States’ 39 percent combined statutory corporate tax rate is the highest among the largest 50 economies. The American tax and accounting system has trapped over $2 trillion of deferred taxable income as “permanently reinvested” offshore. It encourages the acquisition of U.S. headquartered companies by foreign companies, and then allows foreign companies to strip taxable income from the US activities. This system is bad for domestic job creation, penalizes the entire U.S. economy, and needs to be fixed urgently.
Although the Obama Administration never acted on this advice, they acknowledged the benefits for U.S. workers that would result from lower marginal tax rates on corporate income:
When effective marginal rates are higher, potential projects need to generate more income if the business is to pay the tax and still provide investors with the required return. Businesses will therefore limit their activities to higher-return projects. Thus, all else equal, a higher effective marginal rate for businesses will tend to reduce the level of investment, and a lower effective marginal rate will tend to encourage additional projects and a larger capital stock. Increases in the capital available for each worker’s use, also referred to as capital deepening, boost productivity, wages, and output.
That’s a passage from the 2015 Economic Report of the President, and Team Obama even recognized in a footnote the research on this topic conducted by Kevin Hassett, who now chairs President Trump’s Council of Economic Advisers.
Yet now that Mr. Hassett and his boss are promoting a reform of corporate taxation to achieve the goals sketched out by Team Obama, former Obama advisers like Larry Summers and Jason Furman are railing against it. Are they nervous that the resulting Trump economy will compare too favorably with the Obama economy?
Mr. Summers for his part has lately been warning that countries might get into a race to lower corporate tax rates. In a world threatened by North Korean missiles and Islamic terror, he now asks us to be concerned at the possibility that the whole world might decide to encourage economic growth and job creation. That’s a world we want to live in.
U.S. Sen. Ron Johnson (R–Wisconsin) was the first Republican to come out against the House of Representatives-approved tax cut bill last week.
Johnson’s reasoning was that the tax bill reduces taxes for subchapter-C corporations (including publicly traded corporations, which comprise all of 0.1 percent of U.S. businesses) but not for any other business, including subchapter-S corporations, limited liability companies, partnerships or sole proprietors.
Three Republican economists give their take on tax cuts:
Last week was a surprisingly good one for Republicans on their signature tax bill. First, they smartly added the repeal of the ObamaCare individual mandate tax, a move that cuts taxes for lower income Americans and reduces the deficit to make room for even more tax cuts. It doesn’t get better than that. Then they passed the bill out of the House by a bigger margin than most of the vote counters expected. Republicans rightly are rallying together to get this done by Christmas.
Let us be clear, this is not a great bill. It sure could be improved, as we describe below. But it is a good bill, and it will create a more prosperous economy that we believe will benefit all income groups. We have advised Donald Trump that 3 percent growth can be expanded to 3.5 percent to 4 percent, due to more businesses relocating back in America, more capital investment as the return of investment rises, and more higher paying jobs as the economy grows.
By the way, 3.5 percent growth would feel like an adrenaline rush after the sluggish 1.6 percent growth in President Obama’s final year in office. This also translates into at least $2 trillion more revenue to the federal government over the next decade and a declining national debt burden as a share of gross domestic product.
We hope Republicans stick with the repeal of the ObamaCare tax cut because this would deliver an enormous double policy victory. With the individual mandate gone, expect to see a mass rush for the exits as Americans freely choose new insurance plans that are affordable and tailored to the specific needs of their families.
We are especially pleased that the 20 percent corporate rate, the heart and soul of the bill, remains intact. Talk of raising the rate to 22 percent would only water down the growth and jobs impact. We also believe the immediate business expensing will encourage businesses to start spending more of the cash they are sitting on. Thank God the un-American death tax is repealed. A lifetime of taxes is enough.
Repeal of the state income tax deduction will force states and cities to start spending more judiciously and help weed out waste in city hall and state capitals. New York and Connecticut spend almost twice per person on state and local government what New Hampshire spends, and yet services are better in the “live free or die” state. No longer will Uncle Sam underwrite one-third of municipal services. We hope this leads to more privatization of services and tax cuts all over the nation.
The tax bill can and should be improved in the Senate with these fixes. The bill should cut the highest income tax rate from 39.6 percent to 35 percent as in the original Trump plan. Everyone should get a tax rate reduction, and the most harmful rate is the highest one. The tax bill should add more relief for small business. Sen. Ron Johnson (R-Wis.) is right. Small businesses should see their rates cut closer to 25 percent, not 35 percent. They create half the jobs. To pay for this tax cut, close more corporate loopholes and cap more deductions.
There should be no backdoor capital gains tax hike. There are reports that the Republican plan would raise capital gains taxes on some long held stock. This is a bad idea. The rate should be cut, not raised on investment capital put at risk. Lawmakers should use the JFK and Reagan models of the 1960s and 1980s as the historical evidence for even bolder tax cuts. We believe that with modest revisions in the Senate, this could be the biggest pro-growth reform since the Reagan years, and it’s about time.
The end of the state and local tax deduction would be opposed in Wisconsin except that only one-third itemize deductions on their federal taxes. The House bill keeps the property tax deduction up to $10,000. A property tax bill beyond $10,000 would require, on average, a house valued beyond $500,000, which, perhaps ironically, would probably affect supposedly rich Republican voters the most.
The issue, of course, is that if you live in a low-tax state, your federal taxes are higher than they would be without the state and local tax deduction. This might be one way to finally enforce reducing state and local taxes, which remain too high.
Johnson is correct that tax breaks for business need to be broader than just C-corporations. Whatever a business spends its after-tax profits on — pay for employees, dividends for owners, or back into the business — is preferable than paying taxes, which as you know are paid by business customers, not the business.
The number one British single today in 1954:
Today in 1955, RCA Records purchased the recording contract of Elvis Presley from Sam Phillips for an unheard-of $35,000.
The number one single today in 1960 holds the record for the shortest number one of all time:
The number one British single today in 1970 hit number one after the singer’s death earlier in the year:
In the longstanding liberal narrative about Bill Clinton and his scandals, the one pushed by Clinton courtiers and ratified in media coverage of his post-presidency, our 42nd president was only guilty of being a horndog, his affairs were nobody’s business but his family’s, and oral sex with Monica Lewinsky was a small thing that should never have put his presidency in peril.
That narrative could not survive the current wave of outrage over male sexual misconduct.
So now a new one may be forming for the age of Harvey Weinstein and Donald Trump. In this story, Kenneth Starr and the Republicans are still dismissed as partisan witch hunters. But liberals might be willing to concede that the Lewinsky affair was a pretty big deal morally, a clear abuse of sexual power, for which Clinton probably should have been pressured to resign.
This new narrative lines up with what’s often been my own assessment of the Clinton scandals. I have never been a Clinton hater; indeed, I’ve always been a little mystified by the scale of Republican dislike for the most centrist of recent Democratic leaders. So I’ve generally held what I’ve considered a sensible middle-ground position on his sins — that he should have stepped down when the Lewinsky affair came to light, but that the Republican effort to impeach him was a hopeless attempt to legislate against dishonor.
But a moment of reassessment is a good time to reassess things for yourself, so I spent this week reading about the lost world of the 1990s. I skimmed the Starr Report. I leafed through books by George Stephanopoulos and Joe Klein and Michael Isikoff. I dug into Troopergate and Whitewater and other first-term scandals. I reacquainted myself with Gennifer Flowers and Webb Hubbell, James Riady and Marc Rich.
After doing all this reading, I’m not sure my reasonable middle ground is actually reasonable. It may be that the conservatives of the 1990s were simply right about Clinton, that once he failed to resign he really deserved to be impeached.
Yes, the Republicans were too partisan, the Starr Report was too prurient and Clinton’s haters generated various absurd conspiracy theories.
But the Clinton operation was also extraordinarily sordid, in ways that should be thrown into particular relief by the absence of similar scandals in the Obama administration, which had perfervid enemies and circling investigators as well.The sexual misconduct was the heart of things, but everything connected to Clinton’s priapism was bad: the use of the perks of office to procure women, willing and unwilling; the frequent use of that same power to buy silence and bully victims; and yes, the brazen public lies and perjury.
Something like Troopergate, for instance, in which Arkansas state troopers claimed to have served as Clinton’s panderers and been offered jobs to buy their silence, is often recalled as just a right-wing hit job. But if you read The Los Angeles Times’s reporting on the allegations (which included phone records confirming the troopers’ account of a mistress Clinton was seeing during his presidential transition) and Stephanopoulos’s portrayal of Clinton’s behavior in the White House when the story broke, the story seems like it was probably mostly true.
I have less confidence about what was real in the miasma of Whitewater. But with Paula Jones and Monica Lewinsky, we know what happened: A president being sued for sexual harassment tried to buy off a mistress-turned-potential-witness with White House favors, and then committed perjury serious enough to merit disbarment. Which also brought forward a compelling allegation from Juanita Broaddrick that the president had raped her.
The longer I spent with these old stories, the more I came back to a question: If exploiting a willing intern is a serious enough abuse of power to warrant resignation, why is obstructing justice in a sexual harassment case not serious enough to warrant impeachment? Especially when the behavior is part of a longstanding pattern that also may extend to rape? Would any feminist today hesitate to take a similar opportunity to remove a predatory studio head or C.E.O.?
There is a common liberal argument that our present polarization is the result of constant partisan escalations on the right — the rise of Newt Gingrich, the steady Hannitization of right-wing media.
Some of this is true. But returning to the impeachment imbroglio made me think that in that case the most important escalators were the Democrats. They had an opportunity, with Al Gore waiting in the wings, to show a predator the door and establish some moral common ground for a polarizing country.
And what they did instead — turning their party into an accessory to Clinton’s appetites, shamelessly abandoning feminist principle, smearing victims and blithely ignoring his most credible accuser, all because Republicans funded the investigations and they’re prudes and it’s all just Sexual McCarthyism — feels in the cold clarity of hindsight like a great act of partisan deformation.
For which, it’s safe to say, we have all been amply punished since.
I said in print 20 years ago that if a man was willing to abrogate his vows to his wife before God and before the community, he couldn’t be trusted in anything else. That was certainly the case with Bill Clinton. Hillary wasn’t a victim, she was a willing coconspirator to get more power for herself. In this one case it’s too bad that adultery isn’t a criminal offense.
The number one British single today in 1955 …
… on the day Bo Diddley made his first appearance on CBS-TV’s Ed Sullivan Show. Diddley’s first appearance was his last because, instead of playing “Sixteen Tons” …
… Diddley played “Bo Diddley”:
The number one single today in 1965 could be said to be music to, or in, your ears:
The Supremes became the first all-girl group with a British number-one single today in 1964:
The Supremes had our number one single two years later:
The number one album today in 1994 was Nirvana’s “MTV Unplugged in New York” …
… on the same day that David Crosby had a liver transplant to replace the original that was ruined by hepatitis C and considerable drug and alcohol use:
The Wall Street Journal’s Jason Gay:
Regular readers of this sports column—there have to be at least two or three of you, besides my mother, though I’m not so sure about her these days, frankly—must have been wondering when I was going to finally weigh in on America’s most important sports story:
The undefeated Wisconsin Badgers football team.
I believe the moment has arrived. The Badgers are 10-0 for the first time in school history, ranked No. 5 in the polls, and this Saturday in Madison, Wis.—a city that’s basically heaven, with better bratwurst and beer—they host those unctuous weasels from the east:
The Michigan Wolverines.
You know how I feel about folks from the University of Michigan. Well, you would know how I feel, if folks from the University of Michigan would ever stop talking about the University of Michigan. (Every third person at the Journal went to Michigan.)
I’ll get back to those Michigan weasels in a second. First, I want to address the issue of Badger disrespect.
A few weeks ago, I was freaking out, scratching my claws, screaming from the windows that the high priests and priestesses of college football were conspiring to deny Wisconsin from one of the four playoff spots. My Badgers aren’t in the cozy smoke-filled room of college football elitists—or historic darlings of the college football media, which is totally in the tank for the SEC; those clowns would vote a hamster cage into the top 10 if it was from the SEC.
It was like the Badgers were the Rodney Dangerfield of college football. We stayed undefeated, and somehow went backward. (Fun fact: Dangerfield starred in “Back to School,” which was filmed on campus at Wisconsin.)
(I know there may be some journalism ethicists out there who will object to the use of “we” and “us” to describe the Badgers here, seeing as I’m not actually a member of the football team. You’re right: it’s gross. Please mail a formal complaint to the Columbia School of Journalism. I hear it’s almost as prestigious a school as Michigan.)I was mad a few weeks ago about the Badgers, but I feel much better now. Last weekend, Georgia and Notre Dame got thumped and did everyone a favor. Wisconsin leapt to No. 5 in the College Football Playoff rankings, and considering No. 2 Clemson and No. 3 Miami have to play each other, they’re in a very good position to make the playoffs—if they stay unbeaten and win the dopey Big Ten conference title game.
Besides, I talked to Wisconsin’s football Godfather, Barry Alvarez, now the Badger athletic director, who told me to calm down.
“I wouldn’t worry or get too upset right now,” Alvarez told me. “There are still games left. A lot’s going to happen.”
The fact is, Alvarez reminded, it would be very hard for the committee to deny an undefeated team—with a conference championship—from a Power Five conference.
Basically, it would be Bucky anarchy. There’s no need to go crazy right now.
“People get overreactive,” Alvarez said.
Candidly, some of the grumbling about Wisconsin is fair. The Badgers are awesome, but do have a bit of a padded resume. We have played some good competition, and also steamrolled a few company softball teams. I think one school we played started a bunch of patio chairs in the defensive backfield. One may have had a llama at quarterback.
But you play who you play. Last Saturday, the Badgers handled an Iowa team that had rampaged all over Ohio State the week before.
And now Mr. Khakipants comes to town.
I cannot overstate how much I am looking forward to this. Last year, Wisconsin and Michigan were undefeated when they met, and the Badgers lost a tough one. It was painful. I couldn’t show up to work for six weeks.
It’s a little bit of a letdown that Michigan isn’t a juggernaut like we are. The Wolverines have lost two games. Two! That’s basically 20 games. They’re not even the best college football team in Michigan.People expect more out of Mr. Khakipants, who gets paid $800 million a season, gets six private jets and may have bought that DaVinci painting the other night.
Fine. The Badgers—who are coached by Paul Chryst, a Madison native who played Badger football and I’ve heard is paid in State Street Brats gift certificates—will just have to beat an underperforming Wolverine team which is likely looking forward to Ohio State next weekend.
No biggie.
The ESPN people are going to be on campus to do their “College Game Day” party for a bunch of cord-cutters, which is fine. If someone can hold up a sign that says WALL STREET JOURNAL REPORTS: HARBAUGH’S KHAKIS ARE LULULEMON, I’d be grateful.Meanwhile, the game is scheduled to begin on Fox at noon Eastern, or 11 a.m. Madison time, which is cruel, since 11 a.m. on a Saturday in Madison is basically still Friday night.
Who plays football at 11 a.m.? This isn’t T-ball!
It doesn’t matter. We can play at 4 p.m. or 4 a.m. Camp Randall will still rattle. Likewise, you can rank us fifth, or 15th, or fifty-first. You can predict we’ll be in the playoff, the Boca Raton Bowl, or the AL East.
It’s cool. The haters are an honor.
“We just have to take care of business,” Alvarez said. “Control what we can control.”
We’re 10-0. Jump on the Bucky bandwagon. We may not be America’s best college football team, but we’re definitely the most fun.