Obama's new tax proposal

Surprisingly, I agree with Obama on the overall reported plan.  Lowering the corporate tax rate, decreasing the amount of tax breaks, and taxing offshore corporate income, can help revitalize the U.S. manufacturing sector.  Manufacturing is the cornerstone of the economy.  We'll see how this proposal evolves.  Hopefully it will do some good.

The Maltusian model is back.  According to the Wall Street Journal, the population growth in rural America is slowing.   According to the Maltusian model, long term economic growth does not happen, rather population increases or decreases with economic output.  With the decrease in population caused by the lack of jobs in rural areas, it appears to follow the Maltusian model.

Also reported in the WSJ this week, the amount of jobs for high school dropouts is decreasing at an increasing rate.  Only 10% of high school dropouts have regular jobs.  The return of manufacturing could increase this number substantially.

Byron (Siwelnor)

Electric Cars and Rent Control

I have one real problem with electric cars, and that is their batteries.  They don't last long enough, both when you consider the capacity, and the effective lifespan.  On top of that, you have to charge them in a certain way, similar to how you charge your phone.  When driving them, you have to know where you are going to recharge again, because there aren't many recharging stations.  They also take quite awhile to charge. The point of all of this, is that a car is supposed to be utilitarian.  As of now, electric cars are not.  

On a separate subject, rent control doesn't work.  It only helps the people already living in the apartments.  It acts as an effective price ceiling, meaning that there will be more people wanting apartments, then there are people renting them out.  The problem then, is a problem of volume.  Rent control acts as a disincentive to potential landowners.  This leads to less apartments being let out, and therefore, less apartments available for rent.  

Siwelnor

Growing up.

I've written some things on this blog that I'm proud of, and some I'm not.  I'm taking this blog along a more professional and mature route now.  I also plan to post more regularly on specific subjects.  When there's something interesting in the news I want to talk about or discuss, read it here.  When me and my classmates have discussions about law or politics, I'll repeat it here.  When  I read something in my never-ending reading list that seems interesting and relevant, I'll post it here.  I will publish my sources.  I will cite any cases.  It is past time to grow up.

Starting with this new trend, today I read an interesting case.  Stambocsky v. Ackley, 572 N.Y.S.2d 672* is a hillarious decision based on the doctrine of caveat emptor, or let the buyer beware.  Ackley decides he see's a ghost, and publishes this in the news, and tell's everyone about it.  He tries to sell his "haunted" house to Stambocsky, and later Stambocsky finds out about the "haunting" and decides to break the contract.  Ackley sues for specific performance**, and the judge goes on a Ghost Busters field day.  It's a great case to read, and if you have access to legal research materials, I would read it.

* Volume 572 pg 772 of the New York state Reporter, Second edition. ***
** A court order to do what you promised to do in the contract, in this case buying the house.
*** This is the footnote format I use.