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Daily Bread for 11.1.20

Good morning.

Sunday in Whitewater will be mostly cloudy with a high of forty-nine.  Sunrise is 6:30 AM and sunset 4:45 PM, for 10h 15m 06s of daytime.  The moon is a waning gibbous with 99.3% of its visible disk illuminated.

Today is the one thousand four hundred fifty-fourth day. 

 On this day in 1870, the United States Weather Bureau (later renamed the National Weather Service) makes its first official meteorological forecast.

Recommended for reading in full — 

 Economist Jospeh Stiglitz writes Republicans, Not Biden, Are About to Raise Your Taxes (‘President Trump built in tax increases beginning in 2021, for nearly everyone but those at the very top’):

The Trump administration has a dirty little secret: It’s not just planning to increase taxes on most Americans. The increase has already been signed, sealed and delivered, buried in the pages of the 2017 Tax Cuts and Jobs Act.

President Trump and his congressional allies hoodwinked us. The law they passed initially lowered taxes for most Americans, but it built in automatic, stepped tax increases every two years that begin in 2021 and that by 2027 would affect nearly everyone but people at the top of the economic hierarchy. All taxpayer income groups with incomes of $75,000 and under — that’s about 65 percent of taxpayers — will face a higher tax rate in 2027 than in 2019.

….

By 2027, when the law’s provisions are set to be fully enacted, with the stealth tax increases complete, the country will be neatly divided into two groups: Those making over $100,000 will on average get a tax cut. Those earning under $100,000 — an income bracket encompassing three-quarters of taxpayers — will not.

At the same time, Trump has given his peers, people with annual incomes in excess of $1 million dollars, or the top 0.3 percent in the country, a huge gift: The Joint Committee on Taxation estimated the average tax rate in 2019 for this group to be 2.3 percentage points lower than before the tax cut, saving the average taxpayer in this group over $64,000 — more than the average American family makes in a year.

The tax loss and benefit estimates just described were calculated before the pandemic. Now, incomes for almost everyone but top earners have taken a hit, so the loser group will likely be considerably larger than anticipated; and with people like Jeff Bezos, the billionaire chief executive of Amazon, doing even better than expected, Trump’s gift to him is even bigger.

Jeremy Barr reports The Atlantic gave Ruth Shalit a ‘second chance’ 25 years after a journalism scandal. It ended with an ugly correction:

Two weeks after publishing a long, juicy and instantly viral story about the world of competitive niche sports and the wealthy parents who push their children to play them, the Atlantic on late Friday appended a nearly 800-word editor’s note informing readers that it was “deceived” by the story’s author, Ruth Shalit Barrett.

In particular, the magazine said Barrett incorrectly asserted that the story’s main character, who was identified by her middle name (Sloane), had a son in addition to three daughters in an attempt to blur her identity, and gave a misleading and highly exaggerated description of a fencing injury allegedly sustained by the woman’s daughter. The author had described the incident at a 2019 competition as a “massacre,” in which the girl was stabbed in the neck; in the Atlantic’s updated version of the story, the injury is now portrayed as “not severe.”

In the most scathing and self-flagellating part of the note, the Atlantic said it was wrong to have assigned the story to Barrett, who had earned acclaim as a very young rising-star political writer at the New Republic magazine in the 1990s before her career was derailed by the discovery of major errors and instances of plagiarism in her work.

Tonight’s Sky for November:

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