Palaver News
In some news from the Colorado Legislature; last week state lawmakers passed HB 1351 limiting the amount of interest that can be charged on a consumer “payday” loan to 36%, limiting the terms of such loans and providing other consumer protections. Colorado is joining a movement among states to limit the payday loan industry. Supporters of these limits note the devastating effect payday lending can have on consumers with interests rates topping 450%. Those opposing this particular bill asserted that the legislation would effectively eliminate the payday lending industry in the state, costing jobs and opportunities for consumers, who might not otherwise qualify, access to desperately needed credit. You can read the bill here.
As you might have guessed, the Mountain Palaver has an opinion. There is no excuse for payday lending. The practice destroys consumers who are already struggling. There seems to be a relationship between the presence of payday lending institutions and increased crime rates (particularly robbery, which you can read about here). If one is so inclined, it defies most religious principles (take a trip through the 23rd chapter of Deuteronomy, read a number of passages in the Qur’an… you get the drift). Most importantly, the net effect is an erosion of the financial well-being of our most vulnerable citizens. There is no defense. Additionally, what moron can’t figure out how to make money lending at 36%??? I’m no Bernie Madoff, but I am pretty sure I could make that work. Do you live in a state without payday lending restrictions? You should fix that.
Palaver Pontificates
Down time. Those ebbs and flows of life that are largely marked by external events have been on my mind lately. Down time might be marked by work cycles, seasons, school schedules, favorite TV program schedules or even major league sports. I have found those things that govern my personal down time to be shifting. My rhythm is shot. I’m out of my element. Thirty-five years of regularity have suddenly been thrown into chaos like so much mist in a long series of violent sneezes. What is one to do when the natural pace of a life lived in years is either whipped into a rousing gallop or stunned into swatted-fly stasis?
Consider the value of down time; those chances in life to take advantage of new opportunities – to put oneself “back on the rails.” We start diets. We begin exercise programs. We commit more time to home life or practicing favorite hobbies. We read that book we’ve been wanting to read. Perhaps we start a blog (and by we, I mean me). Regardless, the wanes provide us with that time for personal growth, renewal, or just a good, long nap. If we miss down time, we miss the chance to remake ourselves into something we aspire to. Missing down time might actually be a bit of a big deal in the scheme of the human condition. When down time does not air at its regularly scheduled time and on its regularly scheduled channel there are consequences:
- We immediately appreciate both the concept of metaphor and the advent of TiVo.
- We are completely lost when we next find downtime (“What? Buffy died!” “J.R. was shot!” “Picard is a Borg!” “How did Ross and Rachel get together?!?” ).
- We become stagnant, failing to continue an expected trajectory of self-improvement.
Over the past 30 months I have made some significant changes in my life that I won’t bore you with in this space. The net result has been that I have skipped and lost several cycles of downtime by failing to recognize what those changes meant. Time is no longer marked by KU basketball, a warm spring season, or that blaze of glory that is Opening Day when the KC Royals are, for a brief moment, not embarrassing. Instead, it’s marked by ski season, cool summers, and the events of a new family. Each of us goes through life’s upheavals; sometimes by choice. Let me encourage you to keep an eye peeled for how those changes impact you. Find and take your down time… but don’t start a payday lending service.
Palaver Notices
For all of you who work for, support, sit on the boards of, or are otherwise engaged with non-profit organizations that are near and dear to your heart, take heed! Effective RIGHT NOW our friends at the IRS will begin revoking the tax-exempt status of organizations that have failed to file three successive annual returns. The venerable Guidestar website can tell you all about it.
In the middle of the decade, Congress passed new legislation that created a new non-profit tax return (the 990-N). This “postcard return” is for tax-exempt organizations that typically have gross receipts of $25,000 or less. Many smaller non-profits had become accustomed to not filing a return because it was previously not required. Make sure your organization has been filing its tax returns because “The Man” is coming for your tax-exempt status on Monday!
Palaver Plugs
Today’s Palaver Plug comes from the world of books. The Palaver likes books and, as a general rule, encourages his readers to, you know, read them. To help you along, I am recommending one of my new favorite books: The Road Home by Jim Harrison – perhaps best known for penning Legends of the Fall (a Palaver favorite movie – man that Brad Pitt is one good looking dude. Remember that scene, when the brothers are going off to war and Brad Pitt swings up on the horse? That was awesome!). This book is an interesting narration of a family’s history, using five generations of voices to describe dealing with life, death, love and loss on the plains of Nebraska. Great imagery, wonderful story telling and some really interesting characters. You can get it on a Kindle too!
Tune in Tuesday, May 18 for some Palaver Predictions and a Plug from the world of food.
The Mountain Palaver
