Thursday, January 19, 2012

Whatever

The Press Vets Romney
Here is what the state-controlled media focused on yesterday as they work diligently to introduce Mitt Romney to the public: his tax rate and polygamy. Yes, that is correct. Apparently the 15% tax rate that Romney paid is not high enough for Liberals (even though it is the legal rate for investment income). No mention was made that the money that was taxed at 15% had ALREADY been taxed at a higher rate as earned income. Likewise, no mention was made that Romney did not take a salary as Massachusetts governor. Then - after swatting him around on these issues - they turned to polygamy as practiced by radical Mormons (but not Romney). Harry Reid - another Mormon, but a Democrat - was not discussed. Nor were the radical beliefs of some Muslims.


Meanwhile here is what the honorable press did NOT discuss about Obama - the Democrat presidential candidate: the shady Chicago real estate deal wherein the Obamas bought a strip of land next to their Chicago mansion at a reduced price from a convicted felon. Nor was there any discussion about the fact that Obama's college and law school transcripts have never been released - notwithstanding that this is demanded of every Republican candidate. We can only guess that he must not have done very well and releasing them would shatter the story the press has advanced that Obama is extraordinarily brilliant. 


Full Voice
As Mr. Obama moves toward a full-throated campaign, delivering a State of the Union address on Tuesday and inching closer to directly confronting his Republican challenger, a majority of independent voters have soured on his presidency, disapprove of how he has dealt with the economy and do not have a clear idea of what he hopes to accomplish if re-elected. (NYT, 1/18/2012)


Soured, disapproving and unclear. Sounds like three strikes! 


Of Shovels...and Jobs
The American Petroleum Institute, the industry’s main lobbying group, has begun a multimillion-dollar lobbying and advertising campaign promoting the pipeline. Jack N. Gerard, the group’s president, was unusually harsh in his remarks on Mr. Obama’s decision. “How can you say you are for jobs and reject the largest shovel-ready project in America today?” Mr. Gerard said at an energy forum on Wednesday afternoon. “Mr. President, what are you thinking?” (NYT, 1/19/2012)


To be fair, Obama says that more time is needed to study the potential issues associated with building the pipeline. But wait, what is this?:


Keystone XL has been planned for years and only became a political issue after the well-to-do environmental lobby decided to make it a station of the green cross. TransCanada filed its application in 2008, and State determined in 2010 and then again last year that the project would have "no significant impacts" on the environment, following exhaustive studies. The Environmental Protection Agency chose to intervene anyway, and the political left began to issue ultimatums and demonstrate in front of the White House, so President Obama decided to defer a final decision until after the election. (WSJ, 1/19/2012)


So the issue HAS been studied and a verdict rendered!


Calling Chevy Chase
Vice President Joe Biden had his “oops” moment Wednesday speaking in a 49er-crazed San Francisco when he told a crowd at a city political fundraiser that “the Giants are on their way to the Super Bowl.” (SFGate.com, 1/19/2012)


We cannot wait until Biden hits the campaign trail!

2 comments:

  1. Governor Romney's money was probably not previously taxed as Earned Income. Private Equity Sr. Mgr compensation is placed directly into the fund and for reasons that I am not sure of, avoids the vesting issue that caused our equity to be taxed at the point of vesting. My source for this is someone who has a similar arrangement in Commercial Real Estate Funds.

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  2. I want to add that I see nothing wrong with the Governor's tax rate. He is only following the rules and I have complete confidence that he is not a tax cheat.

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