NEWSLINK, V7N4, Summer 2003, In point of fact

Sowing the seeds of lost opportunities
Farmers in a dozen European countries could boost their net income by $1 billion a year if their governments would allow planting of genetically modified corn, sugar beets and potatoes, according to a study released Tuesday. The report – prepared by the National Center for Food and Agricultural Policy – puts dollars and cents to the political and cultural debate raging over the use of genetically modified, or GM, crops. It was made public during the Biotechnology Industry Organization’s 10th annual meeting. “This is the first study that explains how biotechnology could impact Europe,” said Leonard Gianessi, program director for the National Center for Food and Agricultural Policy, a nonprofit research organization based in Washington. While the organization does not advocate a particular position or course of action, Gianessi said, “This technology might give the Europeans some options they’ll want to explore.” The United States has accepted corn, soybean, canola and cotton crops that are engineered to resist certain pests, diseases and applications of herbicides. Farmers have planted them on millions of acres – and report that they reduce the need to apply insect- and weed-killers, as well as boost yield.
“New Study Spells Out Benefits of Genetically Modified Crops,” Rachel Melcer, St. Louis Post-Dispatch, June 24, 2003.

Taxing choices
Fines, fees, surcharges, taxes: Whatever you call it, the bottom line is that cash-strapped states are seeking billions of new dollars from their citizens, enough to potentially double the load of new taxes this year and erase much of the windfall American taxpayers enjoyed in the 1990s. An Associated Press analysis of budget work in all 50 states found many are trying to target their tax hikes or increase fees – allowing politicians to make claims that they did not raise income taxes. But those states that have raised across-the-board taxes such as income, sales or property taxes will get more money. The targets? Smokers, drinkers, gamblers. Drivers and traffic offenders. Businesses, small and large. But, in the end, few will escape the pain as states confront billion-dollar gaps between the amount of money they gather and the amount they spend. “I don’t think they have much sympathy for me,” said Pete Giannopoulos, a brew pub owner in Phoenixville, Pa., who could see beer taxes triple. “We’ll probably take most of the hit in our shorts.”
“Few People Likely to Escape Higher Taxes,” Robert Tanner, Associated Press, June 13, 2003.

Getting caught in the AMT net? Join the crowd
More than 2,000 individuals with incomes of $200,000 or more paid zero in federal income taxes in the year 2000, according to a report released by the Internal Revenue Service on Thursday. The report shows the percentage of tax filers with $200,000 or more in income that escaped all income tax liability was at its highest since 1994, but still remained a very small group. The report was in the IRS “Statistics of Income” bulletin. A separate IRS report showed the average income tax rate paid by the 400 tax filers with the highest incomes in 2000 was 22.29 percent, up from 22.23 percent in 1999 but below a recent peak of 29.35 percent in 1993. The numbers may raise questions about the effectiveness of the so-called Alternative Minimum Tax, a method of calculating an individual’s tax liability aimed at ensuring wealthy people pay at least some income taxes.
“IRS: Over 2000 Big Earners Paid No Tax in 2000,” Jonathon Nicholson, Reuters, June 26, 2003.

Who would want to move to Wyoming anyway?
For the sixth straight year, Wyoming is the most “wealth-friendly” state, according to Bloomberg Wealth Manager magazine. Wyoming is “America’s own tax haven,” the publication said. “States are struggling to control the most serious financial hemorrhaging since the Great Depression. And that can only mean bad news for wealthy clients, particularly those who live in wealth-unfriendly states,” wrote Tom Saler for the magazine. “Wealth-friendly locales are becoming harder to find.” The rankings are based on how much families can keep of what they earn and own. Other states earning high marks are Alabama, Nevada, Tennessee and Louisiana. The most “wealth-hostile” are Rhode Island, Vermont, Wisconsin, New York, and Maine.
“Wyoming again ranks as No. 1 tax haven, ” Associated Press, June 23, 2003.

Socialized medicine means Big Brother is watching your weight
Smokers and overweight people will be asked to sign contracts with their doctors to agree to a program to quit smoking and lose weight under radical plans being drawn up by the government. In an attempt to remind people of their own responsibilities the health secretary, Alan Millburn, is examining plans for patients and doctors to agree to a formal program of treatment. Sources insisted last night that the plan, outlined in a Labour party policy document as part of preparations for the next general election manifesto, did not mean patients would be denied treatment if they refused to sign. But the Labour document makes clear that patients, particularly overweight people and smokers, will be reminded that they must have a role in caring for themselves.
“Smokers ‘to sign pledge’ with doctors," Nicholas Watt, The Guardian (UK), June 3, 2003.

Well isn’t that nice of them!
The Senate Rules Committee moved closer yesterday to issuing a warning to lawmakers: Do not take furniture, paintings and other historic items from the Capitol. “We are not supposed to steal from the Capitol,” Sen. Don Nickles (R-Okla.) said wryly after the panel sent the proposal to the Senate for a vote.
“Senate may bar thefts from Capitol,” Reuters, June 25, 2003.