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  • Daily Meme: The Collapse of Bitcoin, the Online Currency You Never Fully Understood

  • The Scourge of the Businessman Politician

    This highly successful businessman did not, in fact, become president.

    Attentive readers will recall that among my many pet peeves (and being able to complain to a wide circle of people about your pet peeves is one of blogging's greatest fringe benefits) is the candidate who proclaims that you should vote for him because he's "a businessman, not a politician." As though the fact that there are a lot of shady car mechanics out there means that when you need a new timing belt, the best person for the job would be a florist or an astronomer, because they're not tainted by the car repair racket.

    I've written at some length about why exactly success in business doesn't prepare you to be a good senator or governor, but the short version is that the two realms are extremely different. So it isn't too surprising that when businesspeople decide to run for office, most of the time they fail. They come in with a lot of money, flush it down the toilet on an overly expensive campaign, and quickly discover that there is a whole set of skills necessary for success that they don't possess. When you try to think of business leaders who got elected, then used their business acumen to do things differently and really made a major impact, it's hard to think of many names other than Michael Bloomberg. Here and there you'll find someone like former Tennessee governor Phil Bredesen who did pretty well, but more common is candidates like Ross Perots, or Meg Whitman, or Linda McMahon, or Al Checci (there's a blast from the past for you political junkies). They think, "Sure I can do this better than those empty suits—I've made a billion dollars!" And then they lose.

    Not every time, of course, but most of the time. Which is why Democrats should be pleased to hear this:

  • The War Against Early Voting Heats Up

    The ink is barely dry on the report from President Obama’s election administration commission and states are already disregarding its blue-ribbon recommendations, namely around early voting. The endorsement of expanding the voting period before Election Day was one of the strongest components of the bipartisan commission’s report. But yesterday Ohio Secretary of State Jon Husted released a new voting schedule that deletes both pre-Election Day Sundays from the early voting formula. Under the new rules, people can vote in the four weeks before Election Day, Monday through Friday from 8:00 a.m. to 5:00 p.m., and on the final two Saturdays before Election Day.

  • In Shocker, GOP Proposes Cutting Taxes For the Wealthy

    Perhaps the world's only caricature of Dave Camp, chair of the House Ways and Means Committee. (Flickr/Donkey Hotey)

    For some time, I've been saying, perhaps naively, that we ought to have a real debate about tax reform, and maybe actually accompish something. Sure, Democrats and Republicans have different goals when it comes to this issue—Democrats would like to see the elimination of loopholes and greater revenue, while Republicans want to reduce taxes on the wealthy—but there may be a few things they could agree on somewhere in there. You never know.

    So today, Rep. Dave Camp, the chair of the House Ways and Means Committee, is releasing the latest incarnation of Republican tax reform. And it's...exactly what you'd expect. Unfortunately.

  • Should We Call the Midwife?

    AP Images/Katie Collins

    Earlier this month, a bill advanced in the Arizona state legislature that would ban the use of midwives in the state during births where the mother has had previous caesarean sections, is delivering multiples or might face breech birth. How best to give birth is, needless to say, a topic of perennial interest. What follows is a conversation between two Prospect staffers who stand on different sides of the midwife debate.

  • The Home Mortgage Business, Where Cheaters Always Seem to Prosper

    AP Images/Carlos Osorio

    Ocwen is a little company with a dream: to become the nation’s largest mortgage servicer. If they weren’t so uniformly terrible at mortgage servicing, they might even achieve that goal. And while state and federal investigations, multi-billion-dollar fines, and legal threats would seemingly throw a wrench in most companies’ high-minded plans for success, Ocwen is different. Because in America, rank incompetence need not impede a corporate quest, at least not in the financial services industry. As cracks in its public image continue to surface, Ocwen is attempting to pull off one of the most brazen schemes in recent memory: getting what amounts to a cash advance for the very work they can’t seem to do properly.

  • The Size of the Army Tells You Almost Nothing About Our Military Strength

    Click inside for the full size-graph. You know you want it.

    If you were watching the news in the last 24 hours, you undoubtedly saw a story about the new proposal from the Defense Department to make some personnel cuts. And if you saw one of those stories, you almost certainly saw the same factoid, whether you were reading the New York Times, watching the ABC News listening to NPR, or hearing about it via carrier pigeon: the Army is going to be reduced to its smallest size since World War II!

    Conor Friedersdorf does a good job of explaining why this is bunk, the main reason being that before World War II there was no Air Force; the people who did the flying and bombing were part of the Army. When you account for the 325,000 uniformed Air Force personnel of today, the Army looks much bigger than it did in 1940. But the weirdest part of this discussion is the idea that American military strength can be measured by the number of people in one service branch, or even in all the branches.

    If that were the case, the world's strongest military would be China's, followed by India's, with the U.S. coming in third. We'd be only slightly stronger than North Korea. Have you heard anyone warning that we're weaker militarily than India? Of course not. "But Paul," you're saying, "Can't we see this in a graph?" Happy to oblige:

  • Daily Meme: El Chapo and Our War on Drugs

  • No Credit For Trying

    A few years back, when George W. Bush was still president, I attended an event at the Pew Research Center, and at one point a discussion got going about the varying opinions of Democrats and Republicans about whether their respective parties stood up for their beliefs. At the time, far more Republicans than Democrats answered this question in the affirmative, and people had a variety of explanations for the result. Perhaps it was the fact that Republicans tend to be more respectful of authority, or perhaps the greater ideological and demographic diversity within the Democratic coalition had something to do with it. Feeling rather clever, I raised my hand, and said, "Maybe it's because they're both right." At the time, Republicans did indeed stand up for their beliefs, and Democrats didn't so much. After all, this was a period in which Republicans were getting pretty much everything they wanted from their president and their national party—tax cuts! Wars! Right-wing Supreme Court justices!—while Democrats were getting beaten about the head and shoulders, and responding by saying, "We're so sorry we hit your fists with our faces."

  • The ACA Can't Fix Our Mental Health Crisis

    AP Images/Bob Wands

    As more people sign up for insurance under the Affordable Care Act, the next few months will usher in a fundamental change in mental health care. Under the ACA, insurers are for the first time required to cover mental health and substance abuse treatment as one of ten “essential benefits.” This is good news for the millions of Americans who suffer from some form of mental illness but don’t seek treatment. The question now is whether the country’s mental health infrastructure is equipped to deal with an avalanche of new patients. The answer? Probably not.

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