Death by Academia: The Brutally Honest Job Posting

I stumbled across a web site claiming access to a plethora of "urban legends," one of which, and I recite below, is said to have been written by a cynical SEMO philosophy department chair in the 1990's.

In any case, regardless of the element of "truth" found in this "job posting," it provides a good laugh at minimum, and just perhaps, a break sorely needed from all the non-stop banter on the horrific happenings on Wall-Street.

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SOUTHEAST MISSOURI STATE UNIVERSITY
Cape Girardeau, Missouri 63701

Enclosed is an announcement of a tenure-track position in philosophy at the rank of assistant professor. We hope to fill this position rapidly; the target date for our final decision is June 13. We are more interested in looking at candidates with real teaching experience than in newly minted Ph.D's, who might have unrealistic expectations about the possibilities for academic growth at an institution such as ours. Southeast Missouri State University is a regional university which serves students in the southeast portion of the state including St. Louis. Our students tend to be poorly prepared for college level work, intellectually passive, interested primarily in partying, and culturally provincial in the extreme. We offer a major in philosophy. but do not usually have more than two students officially declared as majors at any given time.

There are a few good students, however, and we are proud to say that our current graduating major, William Knorpp, won the 1985 Analysis competition and will be undertaking graduate study in philosophy at the University of North Carolina Chapel Hill next year. Mr. Knorpp's upper level work was mainly accomplished through independent tutorials; and prospective candidate must understand that there will be virtually no opportunity to teach upper-division seminars in philosophy. We also offer a religious studies minor; most of the students who declare this minor are shocked to learn that Moses might not have written the Pentateuch and regard higher criticism as secular humanist propaganda. The 12 hrs/semester teaching load is devoted mainly to general education courses at the freshman/sophomore level. In another five years, if the general education curriculum is revised as promised, there may be seminars which are to "capstone" the G.E. program.

The academic environment at SEMO is distinctly non-intellectual — somewhat like a Norman Rockwell painting — and the candidate cannot expect to attract students by offering courses that assume innate curiosity about ideas and books, or intellectual playfulness, or independence of moral and political thought. Nevertheless. in order to earn promotion and tenure it is necessary to be involved in curriculum development and to sustain an interest in research and publication. It has occurred to me that the best candidate would be someone who has held the Ph.D. for more than two years, has taught at a community college or a rural state institution, and who would like to continue in somewhat the same vein but at a slightly higher level.I will be interviewing at the Central Division Meetings in St. Louis. If you have any questions, you may call me at my office.

McCain's Miracle!

Recently an adviser of McCain's declared him as "having helped" create what we all know today as the Blackberry (or, as my husband has resentfully at times called my little device, and rightly so, a Crackberry). But c'mon folks. Clearly McCain has done no such "miracle" creation. Rather, the adviser was making a reference to McCain's prior voting stances on the telecom industry. In the article cited below, when confronted, the adviser ambiguously qualifies the Blackberry remark as true since McCain both facilitated in "regulating" and "deregulating" the tele-com industry. Real shocker here! Of course this makes complete sense!

Ah, politics is great, isn't it?

Check the full article out here.

First Time Homebuyer Credit – Will It Really Work?

Here is an interesting article from AccountantsWorld.com by Michael E. Mares, CPA/ABV, JD, on the new "first-time home buyer credit" that Congress recently passed. It is not your typical "credit," albeit first glance lends that impression. It is, in fact, an interest free loan that must be re-paid to the IRS ratably over a period of fifteen years.

If you know of anyone or perhaps fall under the eligibility requirements for this credit, please keep in mind this new so-called "credit" implemented to "jump-start" the economy will essentially prove complicated for good faith attempts at compliance later on with said law.


"Leave it to Congress to take a good idea and complicate it beyond all hope of salvation. That's pretty much what happened with the mis-named first-time homebuyer credit passed as part of the Housing Assistance Act of 2008.



The credit was supposedly designed to help jump start the housing market again, but whether it will be effective remains to be seen. While the credit applies to acquisitions of principal residences, some acquisitions are excluded – those acquired by gift, inheritance or a purchase from a related party.



Let's start with the basics. The credit is the lesser of $7,500 or 10% of the purchase price of the home ($3,750 for married taxpayers filing separately) and applies to home purchases after 4-8-08 and before 7-1-09.



For joint filers, each is deemed to receive 50% of the credit for recapture purposes. The credit is phased-out for taxpayers with modified AGI between $75,000 and $95,000 ($150,000 and $170,000 for joint filers). For unmarried taxpayers buying a house together, the maximum credit is $7,500. A bit of good news is that the credit is refundable and applicable against both the regular tax and alternative minimum tax.



That doesn't sound so complicated does it? Unfortunately, the credit is recaptured over a 15 year period. That's right, this "credit" is really just an interest free loan from the government to help middle-income taxpayers purchase a home. The "credit" must be repaid ratably over 15 years, and no interest is charged on the unpaid balance.



The recapture period begins in the second year following the purchase. Thus, the credit recipient's tax for each of the following 15 years is increased by $500, or 1/15th of the maximum credit claimed). If the home is sold before the end of the 15 year recapture period, the remainder of the credit is recaptured in the year of sale. However, any recapture is limited to the amount of gain on the sale. Thus, for example, a seller who has claimed the credit and subsequently sells at a loss, won't have any recapture in the year of sale, but will still have the credit recapture in years before the sale.



Recapture is also accelerated if the home ceases to be the principal residence of the taxpayer or spouse. Fortunately, the new law provides some exceptions to the accelerated recapture rules. For example:



1. There is no acceleration of recapture on death or because of an involuntary conversion.



2. There's no acceleration of recapture where the transfer is incidental to divorce. However, the transferee will be liable for any further recapture. The transferor will have no recapture liability.



The new law also contains an interesting twist. If a taxpayer purchases a residence after 12-31-08 and before 7-1-09, the taxpayer can elect to treat the purchase as if it were made on 12-31-08, thus claiming the credit in 2008. If the 2008 return has been filed, an amended return can be filed to claim the credit. It appears that if the other requirements are met, but the 2009 income exceeds the threshold, an election to treat the property as acquired in 2008 (assuming that modified AGI is less than the threshold in 2008) will permit use of the credit.



Since the new rules apply to a first-time homebuyer, defining that term is important. A first-time homebuyer is one who has not had an ownership interest in a principal residence during the three-year period ending on the date of the purchase of the residence for which the credit is to be claimed. If married, neither spouse can have had an ownership interest in a principal residence during the three-year period, which will create some problems in divorce-remarriage situations.



How is all of this ever going to be tracked? The law gives the IRS the authority to require increased reporting of home sales (there's currently an exception for principal residence sales of $250,000 or less ($500,000 where the seller is married) to make sure the recapture is made.



Is it worthwhile to claim the credit? It depends on the client's circumstances. However, the client should clearly understand that this "credit" is really just a loan that must be repaid to the government over 15 years. This credit is no free lunch."

SNL Short: Palin & Clinton Address "Sexism"

Hilarious! How to Ride a Horse

If my husband were as into horses as I, surely he'd say watch this, because it's simply epic.

And now, Disney's "Goofy" shows us ALL how it's done.