Congress Proposes to Change IRA to Raise Tax Revenue

What Congress giveth, Congress taketh. IRA and other retirement savings vehicles are created by Congress to give incentives to save for retirement. The incentive is mainly through breaks in taxes. Apparently, this tax advantage has also been use for estate planning purposes for those who inherit IRA's from say, parents, can stretch out the distribution over a long time with tax breaks.

But in this economy, income for the U.S. government is also suffering because, in part, due to less taxes being collected. So, Congress is currently proposing to change part of the rules for IRA. Congress is apparently contemplating requiring that IRA distributions be made within five years for those who inherit the IRA. WSJ article here and Forbes article here issued last week explain the consequences of such proposal.

Well, I guess if we need to figure out ways to raise more money so our government isn't always running a deficit budget, one way to do it would be to tap into investment vehicles that were given tax breaks. The current proposal apparently would only affect inheritors of IRA. I just hope that Congress doesn't change IRA rules so that what I get from my IRA's and 401(k)'s during my lifetime would still enjoy the tax breaks when I retire.

Longing for Revival of Palm

I finally upgraded my cell phone to another smartphone that was not a Palm phone. Maybe it's nostalgia. But for whatever reason, I am, apparently, a Palm fan. I can actually claim that I had the first smartphone -- Handspring. Don't know what it is? Back in the days when Palm made just PDA's (personal digital assistants), a few Palm folks broke off and created Handspring company. It was short lived. But it did make the first smartphone -- it combined your Palm PDA with a phone capability so that you can just click on your contact and call. It was big, with a clunky top module to convert the PDA to a phone... and got noticed by gadget loving guys (I got stopped a few times from folks who wanted to see the novelty).

Now that I upgraded to an Android phone, I long for Palm to make its revival like a Phoenix. Why? Because the Android interface is not as intuitive as Palm (I have a Palm Pixi). I never had an iPhone so I can't compare. But Palm's operating system is pretty intuitive and simple. Things aren't so convoluted to get around. Android, not so much. Android is kinda like knowing Unix -- it's great once you figure out all the roads, but it's not an intuitive road. Palm's operating system is clean, user-friendly, and uncluttered.

Here's hoping that Palm makes another revival. Until then, I guess I'll still keep my Palm Pixi around... and get used to my new Android phone.

The New Year

Anticipation and hope

Carry me this last day

Of this year

That tomorrow

The first day

Of next year

Will be the start

Of new adventures

In this so-called life

That connects so well

This last day

With the first day.

Happy New Year!

Revoke Bank Charters

Apparently, banks are still mired with mortgage mess. As this article points out, one of the attorney generals walked away from settlement discussions to settle the mess with bank -- Massachusetts' attorney general used five banks for illegal foreclosure and loan servicing issues (ummm robo-signing).

Lawsuits are one way to go. But corporate entities, like banks, are fictitious creatures. What does that mean? It means that these entities are created by documents. Government agencies approve these documents to create the entities. Banks are one of them. Federal banks are created with a charter approved by the Office of the Comptroller of the Currency (OCC). OCC approves the charter, regulates, and supervises national banks.

So, I'm just wondering, if banks are not playing by the rules, couldn't the OCC revoke bank charters? And if it can, wouldn't that be simpler? Just a thought as we still hear about mortgage mess created by banks.

Carlsbad Caverns, New Mexico

So my dad and I went to Carlsbad Caverns in New Mexico during the Columbus Holiday weekend (I realize it's not a holiday for most people who don't work for the government). It was a fascinating, short weekend trip. The Cavern was pretty amazing, and unfortunately, because it's pretty dark, most pictures were not great.

We flew into El Paso, Texas and drove 150-160 miles to Carlsbad, New Mexico. Although the flight from Los Angeles was direct, the United plane was a small plane. That route was the most cost effective way to get there, with flights into Russell, New Mexico at double the price for the flight. Along the way, we stopped at Guadalupe Park as well. The drive was pretty easy because there was absolutely deserted.

We stayed at Holiday Inn Express, which is furthest from the Carlsbad Cavern. My dad and I agreed that if we go another time, we would probably like to stay at Best Western or Marriott's, which were closer to the Cavern.

The gas prices were so much cheaper in both New Mexico and Texas than in California.

Anyway, a pretty interesting trip. And here are some pictures that actually came out ok.

The entrance to Carlsbad Caverns National Park for tickets and information. You can take the elevator down 750 feet to the Caverns!

The picture doesn't do justice but here's one of the columns I saw.

The Great Room (I think) was full of columns and limestones.

They limestones hanging from the ceiling were everywhere! Not to mention on the floor.

There were little pools of water, where water dripped from the stones in the cave. I don't think you would want to drink this water.

Inside the cave is in the 50's... cold for me! That's my fleece jacket!

My dad and the column of limestone.

The column from the ceiling and floor... just about to meet!

We were walking and came upon this narrow passageway. Not sure if you are tall, you can walk through here!

If you don't take the elevator down 750 feet, you can walk down to this natural entrance to the cave. It's pretty steep going down. We cheated and decided we would ONLY go down and take the elevator up...

Outside the Cavern, it's pretty deserted with nothing around. Apparently there was a recent fire so everything outside was pretty much burnt.

Outside the Cavern it was pretty windy. That's me at the nature walk trail above the Cavern.

Watch More TV So Social Media Remains Just Social Media?

Back when "social media" first rose - and I consider Friendster to be the first "social media" site - it was really just social. The sites allowed friends and family to connect with each other. But have you noticed that in the last few years, Facebook and Twitter are inundated with businesses, commercials, and politicians? I suppose you could say that it may have been inevitable. Businesses, etc. wanted a way to reach public and figured social media was the way to do it. At the same time, people are watching less television because well, you can get Netflix, Hulu, Youtube, internet videos, etc. etc. So I'm guessing that businesses feel compelled to move more into social media world to reach people.

So then, I wonder - if we watched more television, would businesses stay out of social media? Would it just be social media for your friends and family?

Long-Term Unemployed Probably Make Better New Hires

Part of the problem of job malaise in this economy is that a lot of employers are looking to fill positions with those who are currently employed. I remember reading a lot of news articles, and this New York Times article is one of many that talked about how employers are turning away people who have been unemployed for a while. Basically, the idea is that employers want to fill position with those who have most up-to-date skills because such employee would be more productive, and employers apparently generally believe unemployed would be at a disadvantage against those who are currently employed.

But hiring someone who has been unemployed and had been looking for a job for a long time may be better because such person may become a more productive and loyal employee. Why? Someone who has been unemployed will be a lot more grateful to the employer who hires that person out of probable financial desperation. Someone who is currently employed already has a pay check and probably is looking because he/she is disgruntled and burnt out at the current job. That person probably doesn't face the same dire economic desperation because however disgruntled, that person still has a steady paycheck. Once the unemployed person is hired, that person will likely work extra hours to catch up on the learning curve a lot more than the person who is so burnt out that he/she had to jump ship to another job. The unemployed person will likely go a further distance to prove he/she is worthy of that job. So the unemployed person will likely learn what's necessary for the job just as quickly if not quicker than the person who was employed. And the person who had been unemployed for a while will NEVER forget that you are the one that gave that job to break that desperation and unemployment. Which means, that person is likely to be much more loyal than the person who simply views the new job as another job.

So, wouldn't hiring someone who has been unemployed months and years (which apparently is common now) be better? Just something to ponder about, all you employers with jobs.

Yosemite

So I went to Yosemite for the first time in a very long time earlier this year. It was quite gorgeous, with snow still pretty thick in some parts. This was back in April of this year. Waterfalls were plentiful, unlike the last time I visited as a kid... when California was in severe drought and there were no waterfalls! Here are some pictures.

This is me by the river. I have no idea what river that is but it was a pretty site!

See what I mean about the snow? It was quite beautiful when the sun was shining with the snow still on the ground.

That's me and my parents by the O'Shaughnessy Dam.

This tree was just so weird, I had to take a picture...

And a picture that captures the El Capitan, the Half Dome, and the Bridalveil Waterfall.

A deer!!!
So we went to see some really tall trees at Mariposa Grove. Unfortunately, it was way too cold (and too snowed in) for us to hike the trail but I took some pictures of the tall trees. I look like an ant in front of this tree.
The path for Mariposa Grove...
A random picture I decided to take while walking through Yosemite. It was a gorgeous day, and trees seemed taller than ever.
And finally, theYosemite waterfalls. The big one and the little one.

WebOS Not So Unpopular as HP Thought

So it turns out today, HP's Touchpad, which runs on Palm's WebOS, went on fire sale price of $99 for 16 gb and $149 for 32 gb. What happened? HP website and every major retailers are posting that they are out of stock of HP's Touchpad. It turns out that there was a demand for the "dead" Palm's WebOS operating system. Although Apple's iPad is ruling the tablet world right now, this apparently shows that there is demand for other tablets if they are priced right. It's an amazing testament that the demand for a discontinued product was so high that Touchpad sold out in less than 24 hours pretty much everywhere you go. But maybe the demand would still be there if the Touchpad was placed at $200-300 range initially, and HP kept making them. It seems that people who either (1) want alternative to Apple's iPad or (2) can't afford to pay $500 for a tablet would be willing to buy an alternative.

It's a shame that HP couldn't see that before deciding to kill Touchpad altogether. Maybe today's result may lead to change in HP's thinking... or, more likely, it may lead to change in the rest of the tablet makers if they want to gain an edge over Apple's iPad.

Choi Sung Bong -- Korea's Got Talent Story

I received an email with forward of a Youtube link of the performance of Choi Sung Bong. He performed to get in "Korea's Got Talent" show -- and it's the story of Cinderella. He grew up homeless and found comfort in music. The Youtube video went viral, and quite a few (maybe a little more than few) saw his audition performance.

If you didn't see it, then here's the Youtube video of his audition performance.

It appears that he also made it through the semi-final. This is an article on his story and some excerpt of his interview.

And this is his semi-final performance.

And this is another video with English subtitle. In case you wanted to understand what they were saying...

Growing Up...

So I took a little hiatus from blogging, what with some personal stuff I had to go through. The hiatus gave me time to reflect, which might be what the federal government and S&P might also want to do.

Throughout the debt ceiling debate between Congress, the White House, the Republicans, the Democrats, the Tea-Party, and whoever else, there was only really one strong consensus from the American public. Stop with the political rhetoric and posturing and do the job. The bitter battle of words didn't interest the public. Knowing that the government will do the job did.

However bitter and long it took, at least the government actually passed something in time. (Well, then Congress immediately took off for a 6 week vacation, promising to work on jobs, and leaving FAA workers high and dry, which can be another post in itself)

In the meantime, S&P apparently was also disgusted by the government's failure to act in unity. So much so that S&P took it upon themselves to ignore the $2 trillion math error and that the U.S.A.'s debt ratio to GDP is on par with other AAA graded sovereign nations and downgraded the United States of America's credit rating has to be downgraded. Maybe it's not actually disgust but more political posturing on S&P's part as well. And maybe it's a bit more than all that according to this article but that's how I end up summing it.

I can't help but think that all of this reminds me of kids in the playground. You know, the screaming match of "it's mine, it's mine, I'm right, you're wrong" "ha ha I fooled you"... except by folks whose actions reach beyond a kid's playground.

Martin Luther King Jr. had a dream once -- and that dream came true. And I too now have a dream. I have a dream that one day, politicians and people who make major economic decisions will act for the good of the American people and not their parties or lobbyists. I have a dream that one day actions of such people will move Americans to sing praises for the unselfish work they did for the American public instead of taking vows to elect them all out. I hope I get to see that dream realized.

Korean Dramas

My dad is not very computer literate. But somehow he figured out how to watch Korean dramas online and is completely addicted to watching Korean dramas online. Then, my friend mentioned how she got addicted to watching Korean dramas on hulu.com. So the result? I ended up tooling around... and got hooked on a couple of Korean dramas on hulu.com. The reason for addiction? Because hulu.com uploads all episodes and automatically starts playing next episode! Thankfully, my will power takes over to turn off the computer... or rather the need to sleep. In the meantime, I found a couple of other sites such as koreadrama.org, which hopefully means no more automatic episode uploads.

Post-Apocalyptic World Books -- Sometimes They Are Wrong

In the last few years, I noticed that a lot of authors wrote about post-apocalyptic world. The Nobel Prize winner, Jose Saramago, wrote a book called "Blindness." It's about what we would do if we all suddenly lost our sight. Another great book written by Cormac McCarthy called "The Road" is a journey of a father and a son in a post-apocalyptic world.

The common theme of these books (besides that they were both made into movies) is that for the most part, people turn against each other -- each fighting for his or her survival. Becoming cruel creatures, humans seem almost worse than animals. And there is a lone voice or character in this dog-eat-dog post-apocalyptic world that cries out against people's cruelties... which gives some hope for readers that not all people will throw away all humanity.

Reading such post-apocalyptic books, readers definitely get the sense that the authors don't have much faith in mankind. When the situation turns dire, some authors believe that there will be anarchy and people will throw away any semblance of morality, civility, and altruism.

It turns out, fiction may just be fiction -- real life woes have shown that sense of humanity is stronger than some of us might have given credit. Last year, we watched 33 Chilean miners survive... with the unbelievable willpower to share their last bite of little food they had left until they were found. Right now in Japan, where the earthquake and Tsunami devastated parts of the country, disrupted power and food supply, we are witnessing a society of people who refuse to loot and voluntarily conserving energy.

I guess reality can sometimes surprise and inspire us with more hope than fiction.

Not All Blu Ray Dvd's Are Created Equal

The first blu ray dvd I rented and popped into my blu ray dvd player was "Prince of Persia." It was a jaw-dropping experience because the picture was sharper and clearer than HD channels on TV. It literally seemed to "pop" more. Thinking that blu ray dvd's were all going to "pop," I bought "Zombieland" in blu ray. I was disappointed because there wasn't that jaw-dropping "pop" I expected.

It turns out, not all blu ray dvd's are created equal. Some are formatted better than others. The only blu ray dvd's I have seen that popped are "Prince of Persia" and "Repo Men." It would be nice if the packaging disclosed what was formatted at the highest HD level and which are not. In the meantime, this website reviewing blu ray dvd's will have to do.

Making Opera Relevant

My sister got a Groupon coupon to see Die Fledermaus -- a comedic opera -- for this weekend. The performance was by Center Stage Opera, at the Madrid Theatre in Canoga Park, California. I was excited because one of the arias I'm learning right now is in this opera. Other than that, we had no idea what to expect; we have never seen any performance at this theatre.

The performance we saw last night was quite enjoyable, and I thought a way to make operas engaging for today's audience. The entire opera was in English. Recitatives were not sung -- only major arias were sung. Dialogues and lyrics were changed for more modern setting (like reference to TV show). In short, the opera was fun and engaging. My sister who doesn't like classical music and opera was laughing throughout the opera and thought it was well done to engage audience to the opera.

The quality of musicianship was a bit uneven -- orchestra needed more practice. The two lead ladies singing sopranos -- Katharine Gunnink and Jennie Lister were absolutely amazing. When Ms. Gunnink was singing, unfortunately, male singers seemed as if they weren't singing. And Ms. Lister's high D's (that's above high C above staff!) shimmered brilliantly and effortlessly.

If operas could be changed to such format, I can see younger generation (kids and young adults) could find operas actually fun and not see it as just as "culture." Who knows? Young people may even choose it over movies, video games, or .. Farmville! The point is, opera, should be a living art. And I thought Center Stage Opera found a way to make a favorite opera relevant to today's world... and hope it continues to find new ways to make operas relevant.