Posts Tagged ‘taxes’

Mitt Romney made $21M in 2010 without working

Tuesday, January 24th, 2012

So when we told you that the lame streamer we going to pull out the old playbook on Mitt Romney it is clear that he saw it coming as well. One of the knocks on Mitt is he has been running for president for six years. This might be true and if that was the case he has thought of every angle. It should not have come as a surprise when he released his tax returns that it was more about the numbers then the rate. The facts are he made $21M in 2010, we will not get into his investments make as more money than the Yankees are paying Alex Rodriquez for a whole season. The two big numbers are he pays $3M in taxes and donated another $3M. This we say is going to be more than anyone else in the field but it still can draw ire. The number you will here is Mitt only pays 14.28% taxes. The bottom line is he is paying three million dollars which in most cases is more than 20 city blocks of taxpayers put together. Here is the other fun fact the lame streamers will not let you think about. To invest the money Mitt had to earn the money and to earn the money he paid taxes on it. None of this matter because all you are going to hear is Mitt only pay 14.28% and the average American pays close to 30%








Debt Ceiling who will blink first

Saturday, July 23rd, 2011

When you play poker and you are trying to bluff everything turns on the deception. Sometimes you take a risk by saying you have something you do not and make it so attractive you force the other hand to call your bluff. We have seen this in the budget talks over the debt ceiling. For the first time in history a democratic president is pushing historic cuts in spending, including Social Security and Medicare. Is it a bluff or will President Obama sign on the bottom line on a deal that would include $4 trillion in deficit reduction over 10 years, mainly through steep spending cuts but also including up to $1 trillion in new federal revenue. Why would the GOP not jump at the offer, because once again in any bluff there is something that just does not seem right. Could president Obama pretend to claim he will sign this causing Republicans to back away because the new revenue is from overhauling the tax code and lowering rates by eliminating or limiting a broad swath of loopholes, deductions and tax breaks. It is like a double sided sword as this would violate a no-net-tax-hike pledge that scores of Republican lawmakers have signed but more important most of these are aimed at the wealthier Americans. There is the rub if this bluff is played correctly the Republican-controlled House refuse to accept the deal and the President can use this to roll to victory in 2012 as he tried to compromise and the GOP still said no. Any good bluff only works after the last card is dealt and the only play for the GOP is to take the deal and make the President fold.