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A quick look at Bloomberg News's opinion section

December 20, 2012 For more, visit
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FROM THE EDITORS

Benghazi: "The unclassified report from the independent investigation into the attacks on Sept. 11 at the U.S. mission in Benghazi, Libya, provides a bracing anatomy of a tragedy. It would be a mistake, however, to accept it as a blueprint for reform of security at U.S. facilities overseas."

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Libor:
"At a time when it seemed global banks' transgressions, from interest-rate rigging to money laundering, could hardly get worse, UBS AG managed to break new ground with this week's revelations of Libor manipulation."


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COMMENTARY

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Michael Kinsley

"Critics of the capital-gains tax are absolutely correct when they say that a tax on capital hurts our economy by reducing the incentive to save and invest. . . . But you have to tax something if you want to spend on something else."

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Caroline Baum

"The $1.2 trillion of revenue President Barack Obama hopes to generate by raising taxes on the rich, revised from an initial $1.6 trillion, represents only a small down payment on a budget solution. By minimizing the real source of the problem, which is runaway growth in entitlements, especially health care, Obama isn't doing the country any favors."

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Ezra Klein

The size of the deficit reduction deal depends on how you look at it. "Viewed from one angle, the tentative Obama/Boehner deal is surely small-ball. It includes about $1 trillion in tax revenue and $1 trillion in spending cuts, for a total of about $2 trillion in deficit reduction over 10 years. . . . If you prefer a medium-size total, change your vantage point."
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Jonathan Mahler

The National Hockey League's Gary Bettman "is the most inept commissioner in North American professional sports." He recently filed a lawsuit against his own players and "wants to eliminate signing bonuses, cut the salary cap, increase time in the league required before free agency and set the maximum duration of contracts at five years."

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A. Gary Shilling

In India "the plan to let foreign multi-brand retailers own as much as 51 percent of local ventures was revived to attract foreign direct investment, improve supply- chain infrastructure, raise incomes for farmers by cutting out marketing middlemen, and reduce costs for consumers." But "with poor infrastructure, including inadequate warehouses and cold-storage facilities, and difficulties in buying land, Wal-Mart says it will take a year to 18 months to open its first Indian store, and profits may be much further off."
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Craig R. Whitney

Gun-rights lobbies say they contribute to public safety "by carrying weapons. Yet after Newtown, it is hard for most of us to understand how easy access to military-style, rapid-fire, semiautomatic weapons such as the one Adam Lanza used to kill all those children makes us safer."

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FROM THE BLOGS

The Ticker

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Josh Barro on the policy rationale behind plan B
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Echoes

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Edward Tenner on the inventor of the bar code
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The Ticker


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Evan Soltas on the Social Security double standard
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