Sobran Column --- Remembering Gene McCarthy

Session shows what ails Congress

Typically fine reporting from Robert Novak.

In Hoc Anno Domini

Vermont Royster's annual Christmas message.

In Sign of Conservative Split, a Commentator Is Dismissed - New York Times


Bruce Bartlett gets some publicity for his upcoming book on the Bush presidency.

OPENING ARGUMENT: Does Miers Have What It Takes To Excel On the Bench? (10/17/2005)


Stuart Taylor in the National Journal has a good summary of the Miers nomination: quite a "Bush-lite" action.

Wall Street Journal -- John Fund on the Trail I hired John Fund for one of his first jobs out of school, and I trust his judgment. Interesting take on Harriet Miers. Read and weep for the prospects of restoring the lost constitution.

Katrina exposes the Republicans as socialists

Bush tries to out-do FDR domestically.

An Unnatural Disaster: A Hurricane Exposes the Man-Made Disaster of the Welfare State

Hurricane Katrina triggers time extension relief. The relevant IRS Rev. Proc. is here. (pdf file)

The relevant material begins on page 1073 and provides for an 120 day extension to either the 45 day or 180 day deadlines.

Check out Fred Smith's plea to Lousiania to shape up its act.

Federal Reserve Bank of Minneapolis - Consumer Price Index Calculator

Let's see now. A $100 bill would buy about $20 in 1971 goods; about $5 in 1913 goods (the year the Fed was created). Not a great track record. It is reasonably clear why the savings rate is near zero: persons who save the monetary unit have their savings wiped out.

Jude Wanniski: "Starvation and Death in Niger"

1031 Question

The question is: Can a piece of property identified and contracted for, but not yet closed on, be used in the exchange of the proceeds from the sale of an original property which would be sold after the date of the new properties contract but prior to the closing on the new property?

Yes. The dates of the contracts are not relevant. The relevant dates are the dates of transfer of title of the respective properties. As long as prior to the closing on the relinquished property an exchange agreement is executed calling for the proceeds of the first closing going to the qualified intermediary and then a second closing within 180 days from the first whereby the funds are paid into closing and the exchangor receives the repalcement property, the requirements of the safe harbor regulations are met.

John G. Roberts and the New Federalism: William J. Wadkins Jr.

Roberts will get skewered over this. It will be interesting to see if he can face this issue straight on: Such as "Well, Senator So and So, are you suggesting that the commerce clause which to quote the constitution gives Congress the power 'to regulate commerce with foreign nations, and among the several states, and with the Indian tribes' grants Congress the right to regulate non-commerce, not among the states?"

OpinionJournal -- Who Will Judge the Inquisitors?
John Roberts isn't the only one who should come in for questioning.

BY RICHARD A. EPSTEIN
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FindLaw's Writ - Dean: The U.S. Supreme Court's Holding in Kelo v. City of New London An Interview that Reveals an Insider's Perspective

To Confirm Their Judge, Republicans Abandoned Their Ideas Interesting take on Janice Rogers Brown (of Luvene, Alabama).

LOCO-FOCO: Library of Economics and Liberty

I have been asked about the name of my boat, Loco-Foco. Its roots lie in the factionalism of the old Jeffersonian Democratic party: the group standing opposed to special privilege and funny money.

Internal Revenue Bulletin - January 31, 2005 - Notice 2005-3

Here is link for 1031 exchangors who had their exchanges affected by Hurricane Ivan -- or one off the other recent hurricanes -- in reference to the IRS extending the 45 and 180 deadlines for identifying and closing on replacement property. It provides for at least a 120 day extension.

Catastrophic success Read and weep. Michael Lind deconstructs Wolfowitz.