Is a mortgage interest deduction the best way to compromise on fiscal cliff negotiations? Today we'll discuss the fiscal cliff's final weeks, plus look at the Dodgers' spending spree, Alameda County's drug take-back program, and the mountain of sand that could save Malibu beaches. Later, we'll speak with JPL and NASA scientist Donald K. Yeomans about near earth objects. All that and more, on AirTalk.
Fiscal cliff negotiations: what’s on the table?
President Barack Obama and Speaker of the House John Boehner met one-on-one at the White House on Sunday to discuss a fiscal cliff resolution. Though the divide between the GOP and the President is still wide, there is increasing hope for compromise.
As the fiscal cliff approaches, it has become clearer to House Republicans that tax hikes are unavoidable – if the lame duck Congress refuses to raise taxes on only the wealthy, instead opting to let the Bush tax cuts expire across the board, President Obama may have the support needed to pass his new tax plan in 2013. If the President’s tax plan were to pass in the new Congress, it could prove a politically damaging loss for the Republican Party.
So, how will the parties compromise? One item on the table is a mortgage interest deduction, a long-treasured incentive for homeowners that critics say benefits the wealthy much more than the middle class. Realtors, homeowners, and potential homebuyers are worried that the deduction could be detrimental to the housing market, specifically in the urban centers of Los Angeles, San Francisco, and New York, where home prices are higher.
The deduction would limit the benefits of owning a home, potentially lowering the amount that first time homebuyers could spend. Those who support the deduction cite high rates of homeownership in countries with lower prices on the housing market. They argue that the current deductions primarily incentivize homeownership for the wealthy, and that modifications could be a beneficial compromise during fiscal cliff negotiation.
How should the two parties handle the fiscal cliff as the end of the year approaches? Is there room for compromise on this issue? How much can deductions and spending cuts balance out tax increases? Is there hope for resolution before the year ends?
Guests:
Doyle McManus, Washington columnist for the Los Angeles Times
Chris Thornberg, Principal, Beacon Economics
Lawrence Yun, Chief Economist for the National Association of Realtors
The Dodgers looking Yankee-esque in their shopping spree
What a difference a year makes. In a calendar year, the Los Angeles Dodgers went from a team with a reviled owner and a limited payroll to becoming on paper the team to beat in the National League. Once the new ownership group headed by Magic Johnson took over the reins at Chavez Ravine, the Dodgers front office has gone shopping. And this holiday season in Los Angeles, Christmas has come early.
Over the weekend, the Dodgers signed former Anaheim Angel Zack Greinke to a six year, $147 million contract and also signed highly sought after South Korean left hander Ryu Hyun-jin to a $36 million deal. This adds two more starting pitchers making an eight man rotation headed by Cy Young winner Clayton Kershaw. These moves, along with the mid season acquisitions of Hanley Ramirez, Adrian Gonzalez, Carl Crawford, and Josh Beckett, the Dodgers are looking to build on what they have for not only a championship this next season but perhaps a dynasty for years to come. However, there are some concerns.
Left fielder Carl Crawford is still recovering from an injury and won’t be in the lineup until August. LA also has three different players who can play shortstop or third base and there are no clear cut starters for the 2013 season. Adding into the equation Cuban defector Yasiel Puig, it could make for a crowded outfield as well. There is also a question of team chemistry. It’s one thing to look great on paper. It’s an entirely different matter to play nine innings night in and night out for six months and win games. The Dodgers will have a payroll weighing in at a Yankee-like $230 million this next season so anything less than a championship might be looked at as a failure.
What do you think of these high profile moves? Do you think the team can win this next season? Will the pressure to win be a factor in their success or failure?
Guest:
Bill Shaikin, Sports columnist at the Los Angeles Times
Singer Jenni Rivera died in plane crash at the age of 43
Millions of fans on both sides of the U.S.-Mexico border are mourning the loss of 43-year-old singer Jenni Rivera, known as “La Diva de la Banda,” who died in a plane crash on Sunday.
Rivera and at least five others were traveling from Monterrey, Mexico, where the singer had performed Saturday night, to Mexico City, where Rivera was scheduled to appear as a judge on Mexico’s version of the singing competition TV show “The Voice,” when the plane crashed outside the municipality of Iturbide. The crash happened after the 1969 Learjet 25 allegedly malfunctioned, but the exact cause of the failure is still under investigation.
Rivera was the mother of three sons and two daughters. Rivera, born in Long Beach, California, released her first official album in 1999 and was nominated for Latin Grammy Awards in 2002, 2008, 2010 and 2011. Rivera also starred in two reality TV shows and in October, “People en Español” included her on its list of 25 most powerful women.
On August 6, 2010, Rivera was named spokeswoman for the National Coalition Against Domestic Violence. The Los Angeles City Council proclaimed August 6 “Jenni Rivera Day” for her charity work and community involvement.
How will you best remember Jenni Rivera?
Guest:
Randall Roberts, music writer for the L.A. Times
Betto Arcos, freelance music reporter and critic, he’s a frequent guest on PRI’s “The World”
Wendy Carrillo, pop culture writer and longtime fan of Jenni Rivera
Drug companies sue Alameda County over drug take-back program
Big Pharma is fighting back against an Alameda County law that would require drug companies to fund take-back programs. Advocates of the new law say that unused pharmaceuticals are dangerous: prescription drugs can easily fall into the hands of young children or experimental teens. Proponents also cite drug motivated home invasions and improper disposal as hazards – drugs flushed down the toilet pollute waterways.
The new statue in Alameda County, which includes Berkeley and Oakland, requires pharmaceutical companies to help pay for the drug take-back programs and proper disposal. The requirements were put in place this past July and require companies to put a plan in place by July 2013. The Alameda take-back program is modeled on similar programs in other countries, but the American pharmaceutical industry is protesting – three major pharmaceutical representatives have already filed suit.
In what ways could a drug take-back program be beneficial? Who would get the most out of it? Is it fair to ask drug companies based in other states to set up take-back and disposal programs in California?
Guest:
Donna Ziegler, Alameda County Counsel
Bringing a mountain (of sand) to Malibu
Residents of Malibu’s Broad Beach, concerned about the severe erosion of the beach in front of their houses, have banded together to try to solve the problem. They hope to bring sand from another coast location to replace the 200-foot-wide beach that has eroded to almost nothing.
The $20 million dollar cost will be paid for by a parcel tax that the homeowners have elected to assess on themselves. Likely spots for dredging the necessary 600,000 cubic yards of sand are within the Santa Monica Bay, Ventura Harbor, and beaches at Trancas, Zuma and Dockweiler.. The project is currently under review by the California Coastal Commission and the State Lands Commission, and open to public comment until December 21st.
Several groups, including Heal the Bay and the Surfrider Foundation, have questioned the plan, saying the environmental ramifications haven’t been fully studied. Concerns have been raised about the longevity and sustainability of a new dunes system in an area that will continue to be subject to storm activity.
What lengths are Californians prepared to go to to save their beaches? Does salvaging one area come at a cost to others? Is it environmentally feasible to restore parts of our coastline, or should we let nature take its course?
Guests:
Ken Ehrlich, project counsel for the Broad Beach Geological Hazard Abatement District, the homeowners’ association formed to address the erosion of Broad Beach
Mark Rauscher, Coastal Preservation Manager for the Surfrider Foundation
Objects in telescope are closer than they appear
While it seems that the occurrence of natural disasters is constantly on the rise, we can all be thankful that the worst possible scenario has yet to happen. Most people think of floods or earthquakes as the worst offenders to life and infrastructure, but the most potentially damaging threat is actually hanging above our heads.
Asteroids, and other “near-Earth objects,” could wipe out every single living thing if one of them were to crash into the planet. That’s why NASA created the Near-Earth Object Program Office as an effort to detect such threats to Earth and humanity. The manager of this program, Jet Propulsion Laboratory senior research scientist Donald Yeomans, has compiled some of the insight from his work in this field into a new book.
In “Near-Earth Objects: Finding Them Before They Find Us,” Yeomans details the relationship between our planet and these terrifying space rocks. He also points out that without them, Earth as we know it would probably not exist, as collisions in the past have drastically affected the evolution of our world. How often does one of these objects pose a threat to Earth? What would be done if a crash seemed imminent? Is there anything to be gained from this for our benefit?
Guest:
Donald K. Yeomans, Fellow and Senior Research Scientist at Jet Propulsion Laboratory, Manager of NASA's Near-Earth Object Program Office, Supervisor of the Solar System Dynamics Group, and author of Near Earth Objects: Finding Them Before They Find Us (Princeton University Press)