Although Warren Buffett may be a stellar investor, his entry into the world of federal tax policy has brought forth nothing but bad ideas based on flawed information and misleading demagoguery. Let’s review the record. In his State of the Union address last week, President Barack Obama called for enactment of the so-called Buffett rule, saying it wasn’t fair that a rich person pays a lower tax rate than Buffett’s secretary. In a bald act of political theater, Obama invited Buffett’s secretary to

Viewpoints Feb. 3, 2012

Twenty years after they left their military bases here, the American forces may be back in bigger numbers. Philippine defence and military officials have confirmed a Washington Post report last week that Manila and Washington are negotiating a deal that would increase cooperation between the two militaries, owing to the tension in the West Philippine Sea over the disputed Spratlys as well as other considerations. Although Defence Secretary Voltaire Gazmin said the terms of any accord would still

Viewpoints Feb. 3, 2012

The East Asia situation is changing significantly, with China emerging as an economic and military power and North Korea becoming even more enigmatic with its transition in power.Despite their separation by sea, at this juncture it would be in the national interest of both Japan and Russia to deepen cooperation.Japanese Foreign Minister Koichiro Gemba and visiting Russian counterpart Sergey Lavrov agreed in talks Saturday (Jan. 28) to increase bilateral relations in the security, energy, economy

Viewpoints Feb. 3, 2012

Taiwan’s first four-year Legislative Yuan will open on Feb. 1. Altogether 113 parliamentarians will be meeting for four years rather than three, as in the past, to tackle the increasingly tough job of legislating for the common good of the electorate. The lineup is 64 for the Kuomintang, 40 for the Democratic Progressive Party, three each for the Taiwan Solidarity Union and the People First Party, and as many independents. The ruling Kuomintang has a majority of seven in the new legislature.The

Viewpoints Feb. 3, 2012

A decade ago, domestic credit companies created a huge financial bubble by recklessly pursuing expansionism amid a loose regulatory environment.When the bubble burst, card companies were all irreparably hurt. The government had to intervene to clean up the mess. Some were sold to new owners while others were bailed out by their parent companies. The turmoil rocked the nation’s entire economy. Now, concern about another credit card bubble is growing as credit card firms are stepping up efforts to

Editorial Feb. 2, 2012

Twitter Inc. needs an Arab Spring. In the past 12 months, the micro-blogging social-networking service played a role in changing the world, 140 characters at a time. From Egypt to Libya to Syria and beyond, Twitter helped activists thwart censorship dragnets, connect with the similarly aggrieved and put underperforming leaders on the defensive. Well, that was then. This will be remembered as the year Twitter sold its corporate soul at a time when the world needs genuine transparency and the tool

Viewpoints Feb. 2, 2012

Last year, student activists managed to make high tuition fees a social and political issue. Their vehement protests led the government to roll out a plan to cut college tuition by 30 percent by 2014. Political parties reacted reflexively, pledging to cut tuition rates in half.This year, student protests are expected to intensify as private universities are announcing cuts that hardly match up to their expectations. Protests are also expected at public universities as Seoul Mayor Park Won-soon’s

Editorial Feb. 2, 2012

As increased globalization forces countries to pretend that they like playing with all the other kids in the playground despite fearing they’ll have their toys stolen, never has there been more blatant self-interest cloaked in the phony pretext of outreach or do-goodery. Nowadays, a country is expected to appear both broke and overtly generous ― otherwise, you’re just a jerk.Take Canada, for example. Canada used to be run by nanny-state leftists more concerned with looking like Boy Scouts to the

Viewpoints Feb. 2, 2012

A fiery debate has broken out over an issue many thought had long been settled: Japan’s economy is sliding toward irrelevance. The freshest evidence, reported earlier this week, is the first annual trade deficit in 31 years. It means, at the very least, that the huge pool of domestic savings that Japan uses to finance its staggering national debt might instead start going to support a trade deficit, an ominous sign. Not necessarily a problem, says Eamonn Fingleton, a long-time observer who recen

Viewpoints Feb. 1, 2012