A Journal editorial yesterday noted the Obama argument that new IRS rules are intended to fix "confusion" in the law surrounding non-profit groups like the Tea Party organizations that have been targeted by the tax agency. But in a letter this week to new IRS Commissioner John Koskinen, Reps. Darrell Issa and Jim Jordan show that the new rule-making was politically motivated from its inception. In an interview with House investigators, former IRS Acting Commissioner Steve Miller was asked what the problem was in the law that needed to be fixed. He responded, "So I'm not sure there was a problem, right? I mean, I think we were —we had, you know, Mr. Levin complaining bitterly to us—Senator Levin complaining bitterly about our regulation..." Carl Levin, the Michigan Democrat, is among the most partisan Members of the U.S. Senate. The letter also details evidence that IRS and Treasury officials believed that the Supreme Court had erred in its Citizens United decision and, instead of respecting the authority of the Court, wrongly took it upon themselves to offset the impact of the law with IRS.
WHY WE NEED INTELLIGENCE AGENCIES
Peggy Noonan writes today on her "obsession"—how dependent our society is on electricity and how vulnerable the grid is to attack. This week the Journal reported on a highly-professional attack carried out on a California power station last year. Ms. Noonan writes that preventing such attacks isn't a Washington priority. "You always want to think your government is on it. You want to think they see what you see. But really, they're never on it. They always have to be pushed." We would add that with so many potential targets in the U.S., the best defense is a competent intelligence effort that can identify imminent threats and does not respect the imaginary privacy rights of foreign malefactors.
Peggy Noonan writes today on her "obsession"—how dependent our society is on electricity and how vulnerable the grid is to attack. This week the Journal reported on a highly-professional attack carried out on a California power station last year. Ms. Noonan writes that preventing such attacks isn't a Washington priority. "You always want to think your government is on it. You want to think they see what you see. But really, they're never on it. They always have to be pushed." We would add that with so many potential targets in the U.S., the best defense is a competent intelligence effort that can identify imminent threats and does not respect the imaginary privacy rights of foreign malefactors.
WHY TODAY'S JOBS REPORT IS IMPORTANT
After a series of mixed readings on the economy, this morning's unemployment report will get especially close attention to see if GDP growth at the end of last year can be sustained.
After a series of mixed readings on the economy, this morning's unemployment report will get especially close attention to see if GDP growth at the end of last year can be sustained.
APPLE BUYS ITSELF
Apple CEO Tim Cook reports that the company has been aggressively buying back its own shares, which is sure to please activist investor Carl Icahn. And buybacks are certainly a respectable way to return cash to shareholders. But we wonder if it means the company sees few attractive areas to invest in growth, either inside or outside the tech giant.
Apple CEO Tim Cook reports that the company has been aggressively buying back its own shares, which is sure to please activist investor Carl Icahn. And buybacks are certainly a respectable way to return cash to shareholders. But we wonder if it means the company sees few attractive areas to invest in growth, either inside or outside the tech giant.
Via: Wall Street JournaL
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