Category Archives: money

It's Not A Liberal or Conservative Issue

It is my general feeling that amending the United States Constitution is something that should not be suggested lightly. There’s a whole slew of proposed amendments that never really went anywhere.

Still, I’m mulling over this e-mail I got from Uthaclena which reads in part: “As you are undoubtedly aware, the Supreme Court recently decided that Corporations are Persons who are entitled to spend as much money on ‘free speech’ to effect elections as they like. I believe that most Americans, be they Liberal or Conservative, Democrat, Republican, Libertarian, Green, or Independent, thinks that this is ludicrous. The ruling legitimizes the business of BUYING elections, which is already a grave threat to our democracy. This is an issue that should unite us despite the partisan contention of the last decade.”

Well, yes. When I commented on the court case initially, my view was what it was, one commenter suggested, because I was liberal. I AM a liberal, but the issue was that the Court seemed to cede power from the people to the corporate state. It seemed radical. People complain about the “activist” court when some “progressive” ruling down. Well, this was the height of judicial activism. Along with the Griswold decision to essentially allow eminent domain for “economic” reasons, this court has put the people last.

So I’m feeling inclined to support such a measure.

“Maryland Congresswoman Donna Edwards and Congressman John Conyers Jr. of Michigan, have co-sponsored a bill to send a Constitutional Amendment to the States for ratification that would allow corporation’s influence to be limited. The proposal reads:

111TH CONGRESS, 2D SESSION
H. J. RES. ___
Proposing an amendment to the Constitution of the United States permitting Congress and the States to regulate the expenditure of funds by corporations engaging in political speech.

IN THE HOUSE OF REPRESENTATIVES
Ms. EDWARDS of Maryland (for herself and Mr. CONYERS) introduced the following joint resolution; which was referred to the Committee on __________________

JOINT RESOLUTION
Proposing an amendment to the Constitution of the United States permitting Congress and the States to regulate the expenditure of funds by corporations engaging in political speech.
Resolved by the Senate and House of Representatives of the United States of America in Congress assembled (two-thirds of each House concurring therein), That the following article is proposed as an amendment to the Constitution of the United States, which shall be valid to all intents and purposes as part of the Constitution when ratified by the legislatures of three-fourths of the several States within seven years after the date of its submission for ratification:

‘ARTICLE—
‘SECTION 1. The sovereign right of the people to govern being essential to a free democracy, Congress and the States may regulate the expenditure of funds for political speech by any corporation, limited liability company, or other corporate entity.
‘SECTION 2. Nothing contained in this Article shall be construed to abridge the freedom of the press.’.

You can voice your support of Representative Edwards here.

But more importantly, contact YOUR OWN Congressional Representative and ask them to support this resolution so that it can move forward. If you are uncertain who your representative is or how to contact them, use the locator.

The source article can be read here.

(WARNING! Leftie blog!! ;-)”

ROG

Earl Warren Would Have Hated the Citizens United Ruling

The disturbing 5-4 ruling by the Supreme Court in the Citizens United vs. the FEC this week is based largely on the notion that a corporation be legally considered a person, with the same rights of freedom of speech. This was based on what I always a convoluted interpretation of the Fourteenth Amendment, the “equal protection”, post-Civil War amendments designed to prevent states from discrimating against newly freed black slaves. (Arthur at AmeriNZ rants about this here.)

What would Earl Warren, the California governor nominated as Chief Justice of the Supreme Court by President Eisenhower (reportedly, to his lasting regret), and who served from 1953 to 1969, think of this new ruling? He would have opposed it vigorously. How do I know? I asked him.

Not about the current situation of course; Earl Warren died in July 1974. But the spring of 1973, I took a political science course, and one of the things our professor Ron Steinberg arranged was a meeting by the now-retired author of such landmark rulings as Brown v. Board of Education (equal education regardless of race), Miranda v. Arizona (police to advise suspect in custody of rights), and Reynolds v. Sims (one person, one vote).

Earl Warren spoke to us about many of the cases his court dealt with. As I recall, he seemed optomistic that the court, by then under the jurisdiction of Warren Burger, would continue to open avenues for historically discriminated-against individuals.

Then we got to ask him questions. Dry-mouthed, I rambled some question based on research I had done. It clearly wasn’t apparent what I trying to get at. Finally, I asked him if he thought the Court’s long-time assertion that a corporation was a person was consistent with the legislative intent of the Fourteenth Amendment. He got agitated, apparently not with me, but with the core of the question. “My, no!” he exclaimed. He thought it was a great overreach, not at all consistent with what the amendment was designed to do.

I’m confortable asserting that Earl Warren would have HATED this week’s ruling.

ROG

Social Insecurity


My favorite time of the year is when I get that statement from the Social Security Administration telling me how much money I have made each year. I’m less interested in how much I made last year as I am years ago.
1969 – $529: seven months as a page at the Binghamton Public Library
1970 – $102: I have no idea
1971 – $3,371: six months working at IBM before I went to college. This would be the most money I would make until 1978. I made enough to pay for my college expenses and to lend my parents $1500 for the down payment on a house. Tuition was cheap, and I had a Regents scholarship to SUNY New Paltz.
I worked odd jobs during college, making as much as $2,661 in 1975 and $50 – $50? in 1976.
1978 – $7,434: I was a teller for the Albany Savings Bank for one month, where I was making $6,000 a year, less than what I had in my drawer on state paydays, before I quit to work for the Schenectady Arts Council, at $8,400/year. Unfortunately, that CETA job ended early in 1979.
Then from 1980-1988, I could see my pay progress at FantaCo in Albany, only to drop back in 1989, when I worked for Empire Blue Cross. I mention this specifically because there were some people at the time who thought I was crazy to work at a “funny book” store, but I was making more money there than the “respectable” insurance company, thank you.
I’ve been working my current job since 1992, and the thing particularly of interest is how much putting aside money for health costs alters the bottom line.

Oh, the other interesting thing on this SSA form is my estimated benefits if I retire at 62, 66 or 70. Especially heartening is this little caveat: “The law governing benefit amounts may change because, by 2037, the payroll taxes will be enough to pay only about 76 percent of scheduled benefits.” Of course, I have a five-year old; I’ll NEVER retire.
ROG

Lennon


Sometimes I think about acknowledging the day John Lennon died, but something always draws me in.

This year, it’s the fact that he is on the top 10 list of dead celebrities. According to Forbes:

No. 7: John Lennon
$15 million

Musician
Died: Dec. 8, 1980
Age: 40
Cause: Murder

It was a big year for the Beatles, especially for the songwriter behind many of the band’s most famous songs. In September, Electronic Arts and MTV Games released The Beatles: Rock Band, allowing fans to jam along with a virtual version of the band and download additional albums for $17. As well, the Fab Four’s music was repackaged and remastered in a 16-disc box set that went on sale in September. LOVE, the Las Vegas Cirque du Soleil show featuring the group’s music, still reels fans into The Mirage

Add to that John’s widow Yoko Ono licensing his song “Real Love” to be used by JC Penney in television ads, and her giving Ben & Jerry’s ice cream permission to release a Lennon-inspired flavor called “Imagine Whirled Peace.”

Oh, since I know you need to know, the top-earning dead celebrity is French fashion designer Yves Saint Laurent, who “earned $350 million in the past year. Much of his estate was auctioned off at Christie’s in February. Laurent died of brain cancer in June 2008.” So his #1 status probably won’t be maintained.

Richard Rodgers and Oscar Hammerstein rank second with combined earnings of $235 million. Why are they considered as one unit, I don’t know. Both of them composed with others. Anyway, I imagine the revival of South Pacific did not hurt.

Michael Jackson is third with $90 million; I have to assume it’s a reflection of moneys in, since, before his death in June, there were numerous reports about his mounting debt.

Elvis Presley, the perennial leader in this category, is fourth with $55 million, though he made more than in previous years. He’s followed by J.R.R. Tolkien ($50 million), Charles Schulz ($35 million), John Lennon ($15 million), Theodor Geisel -Dr. Seuss ($15 million), Albert Einstein ($10 million) and Michael Crichton ($9 million).

The interesting thing about the Beatles 09/09/09 revival is that it has gotten me newly interested in the Beatles, again. Not that they ever fell very far from my heart. But watching all the specials reinvigorated my ears. Seeing the Paul McCartney ABC special on that aired Thanksgiving night reminded me of Lennon playing the organ with his elbow on I’m Down at Shea Stadium in 1965.

I haven’t actually GOTTEN any new music – the Beatles in Mono box set is on the Christmas list – but just reading about the differences in the recordings, especially the white album has gotten me excited.

Did I ever mention that, years ago, I received a picture of the Imagine square at Strawberry Fields in NYC? It sits over the entryway from the living room to the hallway.

Ah, the picture above is from LIFE again. It’s from 1980, but I didn’t need the caption to know that.

ROG

The Money Comes In, the Money Goes Out QUESTIONS

I got a little raise back in September. This is a good thing.
I look at the out-of-pocket premiums for my health insurance for 2010. This is not such a good thing.

The amount I pay every two weeks has been gradually increasing, usually up $3 or $5 each year. But this time it went from $117 to $139.

Well, at least my family and I HAVE health insurance. As this report shows, that’s not always the case, particularly as unemployment rises. And this was better than the years when the rates went up AND the copays as well.

In those periods when I’ve been unemployed and/or uninsured and I was eligible for COBRA, I NEVER took it. What does one do – spend the rent money on health insurance, or hope not to get sick? Every study I’ve seen in recent years suggest that it is medical bills, not excessive spending on the Xbox, that is driving the most people into bankruptcy.

Oh, and one of my credit cards, one I actually don’t use often, just raised its rates from an already hefty 15.9% (which is why I didn’t use it much), to a ridiculous 23.9%. According to articles such as 2009 Checking Study: Bank fees take flight and A Squeeze on Customers Ahead of New Rules, it’s happening all over the place.

So the questions:

1. Are you seeing your health insurance premiums and/or copays going up? Or if you are one of the uninsured, how do you decide when to go to the doctor/hospital?

2. Are you seeing staggeringly high interest rates or fees on your credit cards? What actions (negotiating with the credit card company, dropping the card) have you taken? I’m going to call mine, threaten to cancel, and see what happens.

ROG

P is for Presidents


When I (mostly) finished collecting the state quarters (I STILL need a Kentucky D and some of the 2009 quarters), I decided to start collecting the new United States Mint Presidential One Dollar Coins. Actually, they are not that new. The series actually began in 2007 with the first four Presidents, then in 2008 with Presidents 5 through 8. The most recent one I have is for James K. Polk, #11, with Zachary Taylor still to come in 2009.

It occurred to me that, for some of these Presidents, these coins may be be their first appearance on American money. Apparently, the government and/or the people were resistant to putting real, specific people on its currency and coinage. Prior to 1909, when Abraham Lincoln first appeared on the penny (one cent), in commemoration of the centennial of the 16th President’s birth, there was an “Indian head” penny. Likewise it was the buffalo head nickel (five cents) prior to 1938, when it changed to 3rd President Thomas Jefferson; Lady Liberty dime (10 cents) before 1946, when Franklin Roosevelt, the 32nd President, appeared the year after he died; and Standing Liberty quarter (25 cents) before 1932, when the bicentennial of George Washington’s birth was celebrated.

The portraits that appear on paper currency were adopted in 1929. Initially, it was determined to use portraits of Presidents, but the Secretary of the Treasury altered the plan to include Alexander Hamilton ($10 bill), who was the first Secretary of the Treasury; Salmon P. Chase ($10,000), who was Secretary of the Treasury during the Civil War and “is credited with promoting our National Banking System”; and Benjamin Franklin ($100 bill), who was one of the signers of the Declaration of Independence. U.S. bills are sometimes known as dead Presidents; while one must be dead to appear on U.S. money or stamps, not all of them have to be Presidents. Not incidentally, denominations of $500 and higher were discontinued in 1969, in large part because of fears about counterfeiting.

NOT a President
The Presidents

1. George Washington – quarter, $1 bill
2. John Adams – as far as I can determine, the Presidential $1 coin is his first appearance. This was one of the founders. Why didn’t HE show up on the $2 bill instead of his sometimes rival?
3. Thomas Jefferson – nickel, $2 bill, which was discontinued for a time, and not widely found
4. James Madison – $5000 bill
5. James Monroe, 6. John Quincy Adams – just the 2008 Presidential coin
7. Andrew Jackson – $20 bill, though there are some who would like to see him off the bill
8. Martin Van Buren – just the 2008 Presidential coin
9. William Henry Harrison, 10. John Tyler, 11. James K. Polk, 12. Zachary Taylor – just the 2009 Presidential coin
13. Millard Fillmore, 14. Franklin Pierce, 15. James Buchanan – just the 2010 Presidential coin
16. Abraham Lincoln – penny, $5 bill, Illinois state quarter. There is also a 2009 Lincoln commemorative silver dollar in honor of the bicentennial of HIS birth, separate from the Presidential coin coming out next year.
17. Andrew Johnson – just the 2011 Presidential coin
18. Ulysses S. Grant – $50 bill
19. Rutherford B. Hayes, 20. James Garfield – just the 2011 Presidential coin
21. Chester A. Arthur, 23. Benjamin Harrison – just the 2012 Presidential coin

22 & 24. Grover Cleveland (won in non-consecutive terms) – $1000 bill
25. William McKinley – $500 bill
26. Theodore Roosevelt – just the 2013 Presidential coin. Although, now that I think of it, since TR, along with Washington, Jefferson, and Lincoln, appear on Mount Rushmore, and Rushmore is on the South Dakota state quarter, I suppose that should count in each of their tallies.
27. William Howard Taft – just the 2013 Presidential coin
28. Woodrow Wilson – $100,000 bill; this note never appeared in general circulation, and was only used in transactions between Federal Reserve Banks

29. Warren G. Harding, 30. Calvin Coolidge, 31. Herbert Hoover – just the 2014 Presidential coin
32. Franklin D. Roosevelt – dime (10 cents)
33. Harry S. Truman – just the 2015 Presidential coin
34. Dwight D. Eisenhower – $1 coin, 1971-1978
35. John F. Kennedy – half dollar (50 cents)
36. Lyndon B. Johnson – just the 2015 Presidential coin
37. Richard M. Nixon, 38. Gerald R. Ford, 39. James Carter, 40. Ronald Reagan – just the 2016 Presidential coin. BUT the Carter coin will be postponed unless he had died two years before its issuance. This is also true of the Class of 2017:
41. George H. W. Bush, 42. William J. Clinton, 43. George W. Bush, 44. Barack Obama
***
Here’s an interesting link to Presidents on postage stamps.

ROG

ABC MEME

But first, happy SEVENTH blogiversary to both Tegan at Bloggity-Blog-Blog-Blog and Johnny Bacardi. That’s like forever on the Internet.

Sunday Stealing, yet again.

A- Advocate for: mass transit; buses and light rail.

B- Best Feature: my brain. I think. (OR, my brain, I think.)

C- Could do without: the screaming that passes for political discourse.

D- Dreams and desires: for the child to thrive at whatever is her heart’s content.

E- Essential items: certain reference books, or in lieu of that, certain bookmarked reference web pages.

F- Favorite past time: blogging.

G- Good at: confusing my opponents, and occasionally myself, with racquetball shots.

H- Have never tried: jumping out of an airplane.

I- If I had a million dollars: I’d contribute more to some arts organizations and food pantries.

J- Junkie for: music of many types.

K- Kindred spirit: Uthaclena.

L- Little known fact: when I was in college on the Student Government Association Financial Council, the books were audited and the accounts were off by thousands of dollars. The books for my area, education, which included the newspaper and the radio station, were off by 79 cents.

M- Memorable moment: getting a standing ovation for playing a kazoo solo at a Red Cross training camp.

N- Never again will I: take penicillin (allergic reaction).

O- Occasional indulgence: a day off from work, just for myself.

P- Profession: librarian, dammit!

Q- Quote: “I think it pisses God off if you walk by the color purple in a field somewhere and don’t notice it…. People think pleasing God is all God care about. But any fool living in the world can see it always trying to please us back.” ~Alice Walker, The Color Purple, 1982

R- Reason to smile: The daughter’s dancing.

S- Sorry about: slow to asking for forgiveness from one person, which would have had a huge effect on my relationship with a third party.

T- Things you are worrying about right now: Well, worried would overstating it, but I’d like to be around when the kid graduates college.

U- Uninterested in: 99.973% of celebrity gossip.

V- Very scared of: a loss of freedom in the country.

W- Worst habits: an unlibrarianlike level of disorder.

X- X marks my ideal vacation spot: Hawaii. Because I wanted to go, was invited to go, but couldn’t.

Y- Yummiest dessert: carrot cake.

Z- Zodiac sign: Pisces.

ROG

M is for Money

Happy U.S. Income Tax Day!

Every year in the United States, the Social Security Administration sends out Your Social Security Statement to help me plan for my “financial future”. It provides estimates of your Social Security benefits under current law.” But for me, it’s a personal history lesson.

The first year I worked, 1969, I made $529 at the Binghamton (NY) Public Library. I worked six months at IBM in 1971 and made the most I would make until 1978. $50 in 1976 – really? I can always tell when I went to college, or when I was unemployed or underemployed.

I also received my 401(k) statement this week. I started putting money in this account because we were all warned that Social Security wouldn’t be there. My employer and I each contributed about $1000 each this past quarter. I managed to lose that plus an additional $5800. So much for retiring.

Let’s talk about music instead. There are two great songs called Money that I own and that come to mind. The first was written Berry Gordy, founder of Motown Records, when challenged by someone who complained that all he wrote about was romance. “What else do you care about, Berry?” Well, there was money.

The original version of Money was recorded by future Songwriters’ Hall of Famer Barrett Strong, who later teamed with the late Norman Whitfield to write I Heard It Through the Grapevine (a hit for both Gladys Knight & the Pips and Marvin Gaye), War (Edwin Star’s hit), and a bunch of late 1960s/early 1970s classics for the Temptations, such as Too Busy Thinking About My Baby, Papa Was a Rolling Stone, Just My Imagination and Ball of Confusion.

Barrett Strong’s version of Money went to #2 on the Billboard R&B charts for six weeks, and to #23 on the pop charts early in 1960. It’s #288 on the Rolling Stone magazine’s list of greatest songs, and was covered by a Liverpudlian band of some note, the Beatles.

The other Money song is by the British band Pink Floyd, by that point consisting of David Gilmour, Roger Waters, Rick Wright and Nick Mason. It appeared on the 1973 album Dark Side of the Moon, and though it spent but one week at #1 in the U.S., it spent a total of 741 weeks on the U.S. album charts, selling more than 15 million copies.

For those unfamiliar, it has one potentially ‘naughty’ word.

I’m still collecting the state quarters. Right now, all I need is a Missouri quarter from the Denver mint; I even have both District of Columbia coins. But I haven’t seen the Puerto Rico quarter yet from either the Philadelphia or Denver mints and other territories will be released this year. (And yes, I know DC and Puerto Rico are not states, but their coins are a continuation of the same series.) Meanwhile, I’m still looking for Denver mint coins for two of my co-workers.


Certainly it was the juxtaposition of Marilyn Chambers as wholesome Ivory Snow mom with Marilyn Chambers as, er, an actress that helped fuel whatever commercial success she had. No, though my name is Green, I’ve never seen Behind the Green Door or any of her other work. She died this week.
***
And speaking of advertising, does Burger King REALLY think it’ll make money mixing SpongeBob Squarepants, Sir Mix-A-Lot, and “the TRUE (non-pirate) meaning of the word ‘booty'”, as my friend Fred put it in his April 13 post? And if the BK King is creepy in 30-second increments, he’s REALLY bizarre in the 2:30 segment Fred found.
***
OK, so what other song about money am I thinking of? The clues are in this post.

ROG