ATM TAX TO INFLICT 23 MILLION HOUSEHOLDS

Alternative Minimum Tax is going to hit an approximately 23 million households next spring (Spring 2008), up 19 million from 2007 figures of 4 million households. In 1969, Congress created this tax instrument to prevent rich families from dodging taxes. However, it was never indexed to inflation. In 2000, AMT hit 1.3 million taxpayers.

Latest Research Results on Staph Infections

Centers for Disease Control and Prevention published the first ever study on infections and deaths related to Methicillin-Resistant Staphylococcus Aureus (MRSA) strain on October 16, 2007 in the Journal of the American Medical Association. According to CDC's estimate, the microbe is responsible for 94,000 serious infections among Americans annually and nearly 19,000 deaths, exceeding the casualties caused by AIDS.

Nasdaq's Private Market

Buoyed by more private investment such as buyouts compared to IPO ($162b vs. $154b) for the first time ever in 2006, Nasdaq is giving options to Qualified Institutional Buyers (QIBs) to trade stocks in private companies on its new platform, called the Portal Market. The private market is developed by Goldman Sachs and called GSTrUE. The companies which will be traded on this platform doesn't need to file any report to public market regulators. However, only QIBs are allowed to participate in the private market. The QIBs are formed under the securities rule 144A in 1990, and they involve entities with at least $100m in assets.

Federal Reserve's Liquidity Boost to U.S. Financial Markets

August 18, 2007

Federal Reserve played a significant role in recent days by boosting liquidity in a shaken financial market. Fed's repurchase of mortgage-backed securities boosts liquidity in the market place, and is expected to surpass the previous record set in 2001.

Year Mortgage-backed Total Securities
Securities Repo (in Billions) Repo (in Billions)

2001 191 1492
2002 137 1141
2003 181 1516
2004 145 1870
2005 152 2097
2006 175 2125
2007YTD 187 1435

Transfer of Presidential Authority

As per 25th amendment to U.S. constitution effective since 1967, President George W. Bush has temporarily transferred authority to Vice President George W. Bush on July 21, 2007 because of his colonoscopy procedure. Under the law, he is also required to notify the Speaker of House of Representative, Rep. Nancy Pelosi, and Speaker pro-tem of Senate, Sen. Robert Byrd, by writing.

Harris Makes History as Presidential Authority Temporarily Transferred

Though it was as short as 1 hour and 25 minutes, history was made on November 19, 2021 as President Joe Biden transferred presidential authority to Vice President Kamala Harris from 9:10AM CT to 10:35AM CT as he had to go for a routine medical procedure that required anesthesia, making Harris the first woman ever at the helms of authority. 

First Quarantine in more than 25 Years

U.S. government has imposed the first quarantine since 1963 as Andrew Speaker entered U.S. through Canada border,and was taken to Colorado to treat a virulent strain of TB called the extremelydrug resistant TB, or XDR-TB.

Recent water Bill passed in Texas Legislature

I am really encouraged by Texas lawmakers' effort and ability to pass a comprehensive water bill in the recently-concluded session that had ended in the Memorial Day weekend. The bill aims at making a fine balance between protecting the interest of rural Texans and providing a viable plan to sustain a steady and stable supply of water to urban and suburban population especially the water-hungry North Texans. The bill provides a safety net to feed enough water flow to downstream estuaries, rivers and tributaries. The measure also restores plan for building two reservoirs--Marvin Nichols and Fastrill--to help squelch the growing demand in North Texas overcoming objections from environmentalists and ranchers. However, there is one catch: regional planners have to come up with detailed plan to build Marvin Nichols and Fastrill dams by 2015, or else losing the right to build the dams.

Attorney Firings--History Repeating

As the political drama is unfolding in the Capitol over eight federal attorney firings, I am trying to find historical perspective that has political resemblance with it. Over the last few days, the following information came to light in addition to what we already knew so far. There might be 26 out of 93 U.S. attorneys who might have been considered for firing. Also, the Democratic leadership in Congress was mulling over no-confidence motion against Attorney-General Alberto Gonzalez. Although this move is non-binding, it is also very unusual. My research into Congressional history found one instance: in 1886, the U.S. Senate approved such a resolution against then-President Grover Cleveland's Attorney-General A.H. Garland as he had refused to provide documents concerning the firing of a federal prosecutor.

List and Timeline of U.S. Presidents

1. George Washington (1789-1797)
2. John Adams (1797-1801) (Political Party: Federalist)
3. Thomas Jefferson (1801-1809) (Democratic-Republican)
4. James Madison (1809-1817) (Democratic-Republican)
5. James Monroe (1817-1825) (Democratic-Republican)
6. John Quincy Adams (1825-1829) (Democratic-Republican)
7. Andrew Jackson (1829-1837) (Democrat)
8. Martin Van Buren (1837-1841) (Democrat)
9. William H. Harrison (March 1841-April 1841) (Political Party: WHIG)
10. John Tyler (1841-1845) (WHIG)
11. James K. Polk (1845-1849) (Democrat)
12. Zachary Taylor (1849-1850) (WHIG)
13. Millard Fillmore (1850-1853) (WHIG)
14. Franklin Pierce (1853-1857) (Democrat)
15. James Buchanan (1857-1861) (Democrat)
16. Abraham Lincoln (1861-1865) (Republican)
17. Andrew Johnson (1865-1869) (Democrat)
18. Ulysses S. Grant (1869-1877) (Republican)
19. Rutherford B. Hayes (1877-1881) (Republican)
20. James A. Garfield (March 1881- September 1881) (Republican)
21. Chester A. Arthur (1881-1885) (Republican)
22. Grover Cleveland (1885-1889) (Democrat)
23. Benjamin Harrison (1889-1893) (Republican)
24. Grover Cleveland (1893-1897) (Democrat)
25. William McKinley (1897-1901) (Republican)
26. Theodore Roosevelt (1901-1909) (Republican)
27. William H. Taft (1909-1913) (Republican)
28. Woodrow Wilson (1913-1921) (Democrat)
29. Warren H. Harding (1921-1923) (Republican)
30. Calvin Coolidge (1923-1929) (Republican)
31. Herbert Hoover (1929-1933) (Republican)
32. Franklin Roosevelt (1933-1945) (Democrat)
33. Harry S. Truman (1945-1953) (Democrat)
34. Dwight Eisenhower (1953-1961) (Republican)
35. John F. Kennedy (1961-1963) (Democrat)
36. Lyndon B. Johnson (1963-1969) (Democrat)
37. Richard M. Nixon (1969-1974) (Republican)
38. Gerald R. Ford (1974-1977) (Republican)
39. Jimmy Carter (1977-1981) (Democrat)
40. Ronald Reagan (1981-1989) (Republican)
41. George Bush (1989-1993) (Republican)
42. William Jefferson Clinton (1993-2001) (Democrat)
43. George W. Bush (2001- 2009) (Republican)
44. Barack H. Obama (2009-2017) (Democrat)
45. Donald J. Trump (2017-Present) (Republican)

George H.W. Bush (1924-2018)
41st President Passes away
America's last Second World War-generation president has departed on November 30, 2018 at the age of 94. A devoted husband, a loving father, a humble public servant, a decorated soldier, country's top intelligence officer and commander-in-chief, George H.W. Bush, left a legacy of decades of public services, upholding the national interest over partisan interest and promoting decency and civility in the national political landscape. Bush won the landslide presidential poll in 1988 vanquishing Democrat Michael Dukakis, saw his poll numbers rise more than 90 percent and subsequently crash after he broke his pledge "read my leaps, no new taxes".

Remains of the 41st President Lie in Honor on Capitol Rotunda
Body of former President George H.W. Bush on December 3, 2018 was brought to the U.S. Capitol Rotunda for a public view that would provide opportunity for the nation's politicians and general public to pay their homage to a great stateman, father figure, patriot, and most importantly, a very decent human.

Funeral Held at the Washington National Cathedral
In presence of four former presidents and first ladies, world dignitaries and other invited guests, rich tributes were paid on December 5, 2018 at a solemn funeral ceremony in the Washington National Cathedral to honor the life, public service and sacrifices of 41st President George H.W. Bush's life. The day was earlier declared as a Day of National Mourning and a federal holiday by President Donald Trump.


George H.W. Bush Buried beside Wife Barbara
The remains of the 41st President of the USA, George H.W. Bush, made the final journey on December 6, 2018, and after somber ceremonies, the former president, patriot, CIA chief, Vice President and Congressman was buried beside his deceased wife, Barbara Bush, at Texas A-and-M University.