"But the windfall wouldn't last. After the first five years, the accounts would develop into major drains on the Treasury -- reducing future tax collections by an estimated $1 trillion over 75 years. Unlike traditional tax-sheltered retirement accounts, these accounts would require individuals to pay taxes upfront on money put into them. But when the accounts were cashed in, any profits would be tax-free."
Free Matt Cooper and Judith Miller:
The Washington Post's Carol Leonnig reports on the decision by a federal appeals court ruling that Matt Cooper and Judith Miller are in contempt of court and could be jailed if they keep refusing to testify before a grand jury about their source(s) in relation to the leak of a covert CIA agent's name. The three-judge panel of the U.S. Court of Appeals for the District of Columbia ruled that reporters have no First Amendment privileges to conceal information they learn from a criminal investigation, Leonnig writes. LINK
"The decision by the panel of the U.S. Court of Appeals for the District of Columbia, the most recent to threaten reporters with imprisonment, seems likely to accelerate congressional efforts to pass a 'shield' law allowing reporters to keep the identities of their sources secret," write the Los Angeles Times' David Savage and James Rainey. LINK
Sen. Clinton: "Aye"!!!!
The Washington Post's Walter Pincus reports that CIA Director Porter Goss today will give President Bush his plan to ramp up the agency's clandestine service and analyst ranks, focusing on recruiting field officers who can blend in with the groups they're watching. Goss appears today in closed session before the Senate Select Committee on Intelligence. LINK
The Washington Post's Shankar Vedantam takes a very good look at the Kyoto Protocol, which goes into effect today, what it means for climate change and the environment worldwide, and the effect that the United States not being a party to it will have on its efficacy -- and global politics. LINK
The Bush Administration reasons that the treaty is extremely costly and detrimental to the U.S. economy, as well as discriminatory because it doesn't pose the same restrictions on emissions to all countries. While the debate continues, Congress and several states are taking matters -- i.e., emissions standards and controls -- into their own hands. One of those measures -- a proposal by Sens. John McCain (R-AZ) and Joe Lieberman (D-CT) touted by former Vice President Al Gore in his conference call yesterday, imposes less restrictive emissions limits and a trading system to urge American companies to find ways to lower their emissions.
Gregg Easterbook, one of the President's more compelling environmental defenders, likes Clear Skies and urges enviros to take a second look. LINK
House Republicans have left ANWR out of the comprehensive energy bill, hoping to attract more Democratic support. LINK
The Los Angeles Times' Henry Weinstein looks at a memo by the Interior Department's inspector general criticizing a settlement while William G. Myers III, one of President Bush's judicial nominees, was the agency's top attorney. LINK