Claudette Konola
 
Did you know that today is officially Washington’s Birthday, not President’s Day?  Section 6103(a) of title 5 of the United States Code, which details holidays for federal employees, proclaims Washington’s Birthday is a federal holiday.  We used to celebrate Washington’s Birthday on his actual birthday, February 22, but then in 1968 Congress decided that federal holidays should be on Mondays so that lazy bureaucrats could have three days in a row off of work. Okay, I made that part up about lazy bureaucrats. I was having a Tea Party moment inspired by watching too much Fox News over the weekend.

There never was a federal holiday celebrating Lincoln’s birthday, which is February 12. Some states had state holidays celebrating the birthday, but the federal government could never bring itself to celebrate Lincoln. It had something to do with Southern states still licking their wounds after a civil war. In the minds of retailers the two birthdays got rolled into one day that always falls on a Monday so that we have time to shop for new sheets and towels and other special President’s Day offerings.

When I was a kid, Washington’s Birthday was all about cherries. See, there was a story making the rounds that Washington once chopped down a cherry tree. His dad was a little unhappy about losing that tree because his favorite pie was cherry pie. So Papa Washington confronted his son who owned up to wielding the hatchet—they didn’t have chain saws back then. The story was that Junior Washington said, “I cannot tell a lie” immediately before confessing. It turns out that isn’t’ what he said at all, but teachers kept repeating the lie because it was a great story and made kids think twice about fibbing.

But, you see, the story could deliver two separate messages. One message was that kids shouldn’t lie. The other message was that it was okay for authority figures to lie in order to get the masses to follow directions. And that is why there is one major cable channel today claiming to be fair and balanced while misinforming its audience so that its viewers will support all things Koch.

It’s as American as Cherry Pie.

Homework

Federal Holidays

Washington's Birthday or President's Day?

Which Is More Credible: Fox News or University of Maryland?

Fox News Makes You Stupid
 
 
Remember the old saying designed to help you remember how to spell “assume?” To assume makes an ass out of you and me.

It is evident from our debate on Saturday that both King and Kelly Sloan made a lot of assumptions about how government programs might help to create jobs. During the “have-at-‘em” section of the debate, King asked me if government owning Fox News would mean that we would no longer get “fair and balanced” reporting from Fox. Since we don’t get “fair and balanced” reporting from an entertainment cable network that gives $1,000,000 to the Republican Governor’s Association to defeat Democrats, that was where I directed my answer. By the way Fox is owned by an Australian and a Saudi Prince—could that be WHY we don’t get “fair and balanced” reporting from them?

But I could have taken a higher road. King and Sloan ASSUME that any jobs creation program has to come from higher taxes. My experience, and the model I’ve been thinking about for Colorado, is New Markets Tax Credits (NMTC.)

Here’s how NMTC works:

·         A company with income they would like to shelter from taxes makes a seven-year investment in a Certified Development Entity (CDE). In return, they get a 39% tax credit over the seven years of their investment.

·         The CDE is limited in what they can do with this investment. Two eligible uses are making loans to small businesses at below market terms and making venture capital investments in small businesses.

·         The business receiving these loans or venture capital investments are required to create a certain number of jobs for each $X received. (The federal standard for $X is $50,000.)

So, a profitable company pays LESS in taxes, and a small company gets money to expand IF they create a job—and the employee now pays income taxes, mitigating the loss in revenue to the governmental entity. It is taking private dollars into the public arena. Funds from the profitable business are paying for the expansion of the small, local business.

Like I said, King doesn’t know the first thing about how business works.

Homework:

Oklahoma Uses NMTC

Official Website for NMTC

My Experience With NMTC

Fox News Argued in Court That It Can Legally Lie