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PayCal is a unique new iPhone app that allows you to easily schedule...
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A week after the supercommittee?s collapse, Sen. Rob Portman said Monday he?ll unveil a corporate tax reform plan early next year that builds off a framework negotiated by the failed bipartisan deficit panel.
The Ohio Republican, one of 12 members of the supercommittee, described his plan as ?pro-growth, deficit neutral,? and said it would drop tax rates to 25 percent, broaden the tax base and move to a ?territorial system? where only profits earned in the U.S. would be taxed here.
Continue ReadingThe freshman senator said he?s hopeful he?ll find Democratic partners for his proposal, including Sneate Finance Chairman Max Baucus (D-Mont.), another supercommittee member.
In the coming year, ?there is a good possibility for reform,? Portman said during an event at the American Enterprise Institute, a conservative think tank in Washington. ?I?m disappointed what happened with the supercommittee, but more determined than ever to address these issues.?
While didn?t go into much detail, Portman said his plan would cut the top corporate tax rates to 25 percent from 35 percent, primarily by reducing inefficiencies, preferences and exemptions. It would closely resemble the tax reform blueprint mulled by the supercommittee, which the non-partisan Joint Committee on Taxation scored as deficit neutral.
Shifting to a territorial system would mean that profits earned by U.S. companies overseas would not be taxed, allowing firms to bring ?hundreds of billions of dollars back to these shores? without penalty, Portman argued.
Still, Democrats are concerned the change would encourage companies to ship more of their operations overseas, resulting in a narrower tax base.
For Portman, the supercommitee?s failure last week was ?profoundly disappointing.?
Portman, who was a White House budget director under President George W. Bush, faulted President Barack Obama for proposing $447 billion in additional spending for his American Jobs Act at a time the panel was charged with cutting the deficit.
And Portman pushed back against supercommittee Democrats who during deficit talks called for a ?balanced approach? that included a one-to-one ratio of spending cuts to tax hikes.
?This misses the big picture. Raising tax rates to chase soaring spending would upset a far more fundamental balance in this country ? the balance between the federal government and a free and vibrant private economy,? Portman said. ?A massive tax increase would deal a blow to the fragile U.S. economy, leading to less growth, diminished wages and fewer new jobs.
Democrats have created a ?false choice? by focusing solely on stimulus job measures while ignoring spending cuts, he said. A truly balanced approach to cutting the nation?s $15 trillion debt includes corporate tax reform, an overhaul of Medicare, Medicaid and Social Security, and non-entitlement spending cuts.
?Clearly, Washington isn?t working. The nation?s mounting debt and deficits are holding back job creation, keeping millions of Americans out of work,? Portman said. ?Another round of stimulus spending is not the answer. We?ve tried that.?
Jonathan Allen contributed to this report.
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Continue reading Join the Engadget HD Podcast live on Ustream at 5:30PM
Join the Engadget HD Podcast live on Ustream at 5:30PM originally appeared on Engadget on Mon, 28 Nov 2011 16:57:00 EDT. Please see our terms for use of feeds.
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Attractive salary in private sectors, challenging nature of the job, uneasiness in allotted cadre and disparity in services are some of the key reasons for many IPS officers leave the job mid-career.
A total of 12 IPS officers quit their jobs in 2008, while the figure stood at 10 and eight in 2009 and 2010 respectively.
Several IPS officers said disparity in the services, long posting in disturbed areas, challenging nature of the job and better opportunity in the private sector could be the reason for the attrition in IPS cadre.
Though steps are being taken to the vacancy positions of the IPS officers, no major step has been taken to stop their attrition.
Steps are also being taken to allow young officers of paramilitary and army to join IPS through limited departmental examination.
PTI
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WASHINGTON ? President Barack Obama and European Union leaders are meeting at the White House amid financial instability in Europe that could threaten the U.S. economy.
The day-long summit comes as analysts warn that the euro could be days away from collapsing. The U.S. maintains that Europe has the capacity to address its financial woes, but officials acknowledge that economic problems in Europe can negatively impact the U.S.
The White House says other topics on the agenda at the U.S.-E.U. summit include supporting democracy in the Middle East and North Africa, cooperation on counterterrorism and transatlantic law enforcement, and Iran.
The European Union is being representing in the meetings with Obama by European Council President Herman Van Rompuy, European Commission President Jose Manuel Barroso, and High Representative Catherine Ashton.
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FILE - In this file photo taken Tuesday, Nov. 1, 2011 Dr. Conrad Murray waits to leave the courtroom during the final stage of his defense in his involuntary manslaughter trial in the death of singer Michael Jackson. Murray, who faces four years behind bars, returns to court Tuesday, Nov. 29, for the first time since his involuntary manslaughter conviction to learn his punishment and face the singer's family and ardent fans one more time. (AP Photo/Kevork Djansezian, Pool, File)
FILE - In this file photo taken Tuesday, Nov. 1, 2011 Dr. Conrad Murray waits to leave the courtroom during the final stage of his defense in his involuntary manslaughter trial in the death of singer Michael Jackson. Murray, who faces four years behind bars, returns to court Tuesday, Nov. 29, for the first time since his involuntary manslaughter conviction to learn his punishment and face the singer's family and ardent fans one more time. (AP Photo/Kevork Djansezian, Pool, File)
LOS ANGELES (AP) ? A lawyer for Michael Jackson's family on Tuesday told a judge sentencing the doctor who caused the singer's death that the family is not seeking revenge but wants a stiff sentence that serves as a warning to opportunistic doctors.
"The Bible reminds us that men cannot do justice, they can only seek justice," the family said in a statement read by attorney Brian Panish. "That is all we can ask as a family, and that is all we ask for here."
The statement went on to say, "We are not here to seek revenge. There is nothing you can do today that will bring Michael back."
Panish did not specifically request the maximum term of four years in jail for Murray but said the cardiologist should be punished in a way that reminds physicians that they cannot sell their services to the highest bidder.
Superior Court Judge Michael Pastor was expected to sentence Murray later in the day after hearing from lawyers on both sides of the case.
Murray was convicted of involuntary manslaughter after a six-week trial that presented the most detailed account yet of Jackson's final hours but left many questions about Murray's treatment of the superstar with an operating-room anesthetic as he battled chronic insomnia.
Prosecutors want Pastor to sentence Murray to a maximum four-year term that likely would be cut at least in half due to jail overcrowding. Defense attorneys want probation for the cardiologist, saying he will lose his ability to practice medicine and likely face a lifetime of ostracism.
Several members of Jackson's family, including mother Katherine and siblings LaToya, Jermaine, Randy and Rebbie, attended the proceedings.
Murray stared straight ahead as Deputy District Attorney David Walgren told the judge that Murray lacked remorse throughout the case. The doctor wore a suit in court.
Jackson's death in June 2009 stunned the world, as did the ensuing investigation that led to Murray being charged in February 2010.
Murray told detectives he had been giving the singer nightly doses of propofol to help him sleep as he prepared for a series of comeback concerts. Propofol is supposed to be used in hospital settings and has never been approved for sleep treatments, yet Murray acknowledged giving it to Jackson then leaving the room on the day the singer died.
Murray declined to testify during his trial but did opt to participate in a documentary in which he said he didn't consider himself guilty of any crime and blamed Jackson for entrapping him into administering the propofol doses. His attorneys contended throughout the case that Jackson must have given himself the fatal dose when Murray left the singer's bedside.
In their sentencing memorandum, prosecutors cited Murray's statements to advocate that he receive the maximum term. They also want him to pay restitution to the singer's three children ? Prince, Paris and Blanket.
It's unlikely that Murray can pay any sizable sum, including the $1.8 million cost of his funeral. He was deeply in debt when he agreed to serve as Jackson's personal physician for $150,000 a month, and the singer died before Murray received any money.
During Murray's trial, a jury heard a slurred recording of Jackson found on Murray's cellphone. The doctor or his attorneys never explained in court why he recorded the impaired singer six weeks before his death, but it revealed the ambition of the entertainer who burst on the scene as a baby-faced member of the Jackson Five in the 1970s.
"We have to be phenomenal," he was heard saying about his "This Is It" concerts in London. "When people leave this show, when people leave my show, I want them to say, 'I've never seen nothing like this in my life. Go. Go. I've never seen nothing like this. Go. It's amazing. He's the greatest entertainer in the world.'"
Jackson's comeback attempt came after he had been pushed into obscurity. Despite his acquittal of child molestation in 2005, Jackson went into seclusion, leaving his lavish manor Neverland Ranch and moving to the Middle East and Las Vegas, where he first met Murray.
Prosecutors said the men's relationship was corrupted by greed. Murray left his practices to serve as Jackson's doctor and look out for his well-being, but instead acted as an employee catering to the singer's desire to receive propofol to put him to sleep, prosecutors said.
"The defendant has displayed a complete lack of remorse for causing Michael Jackson's death," prosecutors wrote in a filing last week. "Even worse than failing to accept even the slightest level of responsibility, (Murray) has placed blame on everyone else, including the one person no longer here to defend himself, Michael Jackson."
Murray's attorneys are relying largely on 34 letters from relatives, friends and former patients to portray Murray in a softer light and win a lighter sentence. The letters and defense filings describe Murray's compassion as a doctor, including accepting lower payments from his mostly poor patients.
"There is no question that the death of his patient, Mr. Jackson, was unintentional and an enormous tragedy for everyone affected," defense attorneys wrote in their sentencing memo. "Dr. Murray has been described as a changed, grief-stricken man, who walks around under a pall of sadness since the loss of his patient, Mr. Jackson."
Pastor also will review a report by probation officials that carries a sentencing recommendation. The report will become public after Murray is sentenced.
___
Follow Anthony McCartney at http://twitter.com/mccartneyAP
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Continue reading AT&T officially adds LG Nitro HD to its LTE fold on December 4th for $250
AT&T officially adds LG Nitro HD to its LTE fold on December 4th for $250 originally appeared on Engadget on Mon, 28 Nov 2011 12:20:00 EDT. Please see our terms for use of feeds.
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MILAN ? Italy paid sharply higher borrowing rates in an auction that raised euro567 million ($750 million), as markets continued to pressure the eurozone's third largest economy to come up with reforms urgently.
Yields on 12-year bonds skyrocketed to 7.20 percent, a full 2.7 percentage points higher than the last similar auction.
While there were enough bids to cover the maximum sought of euro750 million, the high borrowing rates persuaded the Italian Treasury to stick closer to the lower end of its planned issuance range.
The results will likely ramp up pressure on Premier Mario Monti, who is expected to announce additional austerity measures later this week. A bigger test will come Tuesday when Italy plans to auction up to euro8 million in debt in three maturities, including benchmark 10-year.
Earlier Monday, the International Monetary Fund denied reports that it's preparing a $600 billion rescue facility for Italy.
(This version corrects last similar auction, adds new auction Tuesday.)
SAN FRANCISCO (AP) ? Anti-Wall Street protesters took their message about corporate greed to Black Friday shoppers, staging demonstrations in commercial areas around California on one of the busiest days of the year for retailers and bargain-hunters.
In San Francisco, a few dozen people in tony and touristy Union Square used signs to spread an anti-consumerism message. One, 9-year-old Jacob Hamilton, held a sign that read, "What is in your bag that's more important than my education?"
Some of the protesters from the Occupy movements in San Francisco and Oakland clashed with police when they briefly blocked the city's iconic cable cars until officers pushed them out of the street.
Later in the afternoon, some of the participants in what protesters called "Don't Buy Anything Day" sat down in the middle of Market Street, San Francisco's main thoroughfare, and blocked traffic while chanting, "Stop shopping and join us!"
"I wanted us both to be here for the children," said protester Steve Hamilton, a screenwriter who traveled to the city from Winters, Calif., with his son Jacob. "I see how the education deficit directly affects the schools; how the teachers struggle with so many kids in the classrooms and a lack of books. It's not fair to this generation."
Down the street from Macy's massive store on Union Square in San Francisco, shopper Celia Collins of New Orleans said she worked hard to earn her MBA and pay off her student loans. She had every right to enjoy Black Friday, she said, and the protesters would be better off working within the system to find jobs and support the economy.
"I think they're a bunch of ... crybabies," said Collins, clutching her shopping bags as she watched the protesters march down Stockton Street. "I don't begrudge them the right to do it, but I just don't think they've really very smart."
A group of about 20 Occupy protesters in Sacramento marched from a park to a small outdoor mall where many of the storefronts are empty. A police officer on a bicycle trailed the crowd.
A few puzzled shoppers, many toting large shopping bags, stopped to stare at the crowd as they read a manifesto asking people to support local merchants.
Michele Waldinger, 57, a retired attorney who used to work for the U.S. Small Business Administration, said she joined the group to lend her voice to the Occupy effort to restore a social safety net and get corporate influence out of American politics.
"I support the movement, I support getting money out of politics and I support having people shop locally," she said.
The group paraded into a Macy's store, entering near the women's clothing department.
"We are here today to ask you to shop local and sustain our local economy," the group's leader, a man who identified himself only as Brother Carter, read into a bullhorn. "And not reward the 1 percent, large corporate stores like Macy's, whose profits enrich the 1 percent, while they pay next to nothing to their workers, the 99 percent."
The group stayed inside the store for several minutes chanting slogans such as, "They call it profit; we call it robbery." Several shoppers crowded around taking photos with their cellphones.
"I just was took back by surprise that they came into Macy's," said Beronica Jones, 39, of Reno, who was carrying a Gap bag. "I guess that it's positive for people to hear it when they're shopping for Christmas, when we're consuming."
After most of the crowd had cleared out of the store, two young women wearing Macy's badges approached one of the protesters to ask what their rally was all about. One explained that it was to call attention to workers who perform all the labor but do not share in profits.
The employees nodded their heads in agreement.
A Macy's manager threatened to arrest a reporter for The Associated Press before she could ask for the names of the employees or the manager.
Betsy Nelson, a spokeswoman for Macy's, declined to comment on the group's assertion that the chain is among the "1 percent." Nelson said Macy's usually asks the media to check in before reporting at its stores but apologized for the manager who threatened to have the reporter arrested.
"We are a place where people shop. We are not necessarily a place to protest," she said.
Along with identifying new protest targets, people with the Occupy movement energized more established awareness campaigns.
In Emeryville, a small city on San Francisco Bay that has been transformed from a manufacturing area to a shopping destination, more than 60 people attended a Native American community's 10th annual Black Friday protest of the Bay Street Mall.
Corrina Gould, a lead organizer for Indian People Organizing for Change, said the goal is to educate shoppers that the mall was built in 2002 on a sacred Ohlone burial site.
About one-third of the people at Friday's protest came from neighboring Oakland's Occupy movement, and Gould said having the new voices was invigorating.
Jesse Smith, an Occupy Oakland protester, passed out fliers encouraging mall shoppers to instead support local businesses in downtown Oakland to help "keep them in the black."
___
Williams reported from Sacramento. Associated Press Writer Terry Collins contributed reporting from Emeryville.
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