I begin this week’s program by discussing the Capital Gains Tax. Approximately 60% of adult Americans currently own stock in some form and would be negatively impacted by any increase in the tax rate. Retirees in particular would be hurt by an increase in the rate. I’m thrilled that Dan and Art Rooney will increase their ownership of the Pittsburgh Steelers, but the way the Rooney family is managing the timing of their change in ownership transaction proves that the Obama administration should maintain the current 15% Capital Gains Tax Rate.

Next, I interview Randy Frasinelli, Managing Principal of Grant Williams Associates, an executive-search firm based in Pittsburgh. Randy is an expert on human resource issues. He provides valuable and practical advice on how to recession proof yourself in your career. This is not a time to diversify your skill set. Instead, work hard to enhance your current abilities and learn to be “better at what you are best at.”

Brad Berkson, Director of Program Analysis and Evaluation in the Department of Defense discusses how our all volunteer military force is working, meeting recruitment goals, and ultimately keeping us safe here at home. Brad says that we currently have the best trained and equipped military in the history of our nation. Even during World War II, our troops did not have the current level of combat experience. Coupled with advancements in equipment technology and increases in necessary combat resources, our current forces are prepared to defeat any military threat against the United States.

Finally, I wrap up the hour with a brief discussion on the proposed auto bailout. My opinion is that $25 billion will simply prolong the ultimate implosion of an insolvent industry. We have good bankrupcy laws here in the U.S. and the auto manufacturers should use them—in much the same way as the airline industry has in the past—to restructure and once again become a thriving industry.

 

 November 22-23, 2008 - The Steelers and the Capital Gains Tax: Play Now | Play in Popup