(Tom Toles via GoComics.com)
I wish that could be guaranteed, because this… fekking… guy! Paul Krugman talks about “cannibalizing the future“:
One general rule of modern politics is that the people who talk most about future generations — who go around solemnly declaring that we’re burdening our children with debt — are, in practice, the people most eager to sacrifice our future for short-term political gain. You can see that principle at work in the House Republican budget, which starts with dire warnings about the evils of deficits, then calls for tax cuts that would make the deficit even bigger, offset only by the claim to have a secret plan to make up for the revenue losses somehow or other…
Also among these political cannibals would be Willard “Mitt” Romney, who reassures his real constituents, the donors, per NYMag‘s Brett Smiley:
Mitt Romney spoke to deep-pocketed supporters at a private estate in Palm Beach, Florida on Sunday night, and from a public sidewalk outside, reporters were able to overhear specifics on tax deductions he would use to offset the 20-percent income-tax cut he’s proposed for all taxpayers. At least publicly, Romney has to this point discussed his plan only in general terms. “I’m going to probably eliminate for high-income people the second-home mortgage deduction,” Romney reportedly told the crowd in a backyard…
According to the Wall Street Journal, Romney also said he would likely eliminate the state income-tax deduction and state property-tax deduction.
In addition, the presumptive Republican nominee said he would seek to make cuts in the Department of Education and the Department of Housing and Urban Development.
“I’m going to take a lot of departments in Washington, and agencies, and combine them,” Romney said. “Some eliminate, but I’m probably not going to lay out just exactly which ones are going to go…”
Via Paul Constant, Tim Egan at the NYTimes has a “Tax Face-Off: Romney vs. Me“:
… Take a look at Line 7 of the 1040, the one where you report wages, salaries and tips — work. It’s from your W2. Romney, of course, had no wages, salaries or tips, which can be taxed at up to 35 percent. His biggest disclosure is Line 13, capital gain — paper profits — where he weighs in with $12,573,249 from 2010. On that, he pays a mere 15 percent.
The other place to report money earned by doing actual work is on Schedule C. That’s where I put income from books, talks, pamphleteering. And so does Romney. Under the profession category, he doesn’t report himself as a businessman or a politician. He’s listed as “independent artists, writers or performers” — just like a mime, or Carrot Top.
In 2010, Romney’s take from this dodge we share, mostly speeches for his part, was $528,871, a mere 2.5 percent of his income. Were he to get serious about being a hardworking indie performer, he might earn millions. But again, even if he were able to take a deduction for that car elevator he’s putting into his remodeled manse in California, his earnings from his speaking business would be taxed at up to 35 percent.
Better to do no work and pay taxes at a far lower rate on capital gains or a category Romney shares with certain hedge fund managers: compensation from his Bain Capital days also taxed at 15 percent called carried interest…
Messrs. Carrot Top and Gallagher may have to seek legal injunction to protect the good name (such as it might be) of professional prop comics. Willard’s more of a ventriloquist, both puppet and puppeteer, skilled at speaking out of both sides of his mouth:
… What are we supposed to make of a candidate who takes certain public positions to court one group of voters — and then tries to reassure an entirely different group of voters by leaking the fact that he doesn’t really believe what he said to win votes from the first group? How many other “private” positions does Romney hold that we don’t know about?
This is an important question because I think the Romney campaign will be engaged in a series of two-steps between now and Election Day. On the one hand, he needs to keep reassuring conservatives that he is really with them on a whole series of issues. But the whole premise that he was the most “electable” Republican rested on the unstated — was this “private,” too? — premise that he was the most “moderate” candidate in the field and could thus appeal beyond the conservative hard core. Romney wants the GOP base to think he’s a staunch conservative and swing voters to believe he’s a closet moderate. That’s why I suspect we’ll hear more hints about Romney’s “private” views on a lot of other matters…
And now that I’ve put everyone in the right sour mood for Patriots Day, aka Tax Day, what else is on the Monday agenda?
Donner Party Conservatism.The classic description of Sociopathy,”the Mask of Sanity” is just sooo old school.Nowadays it’s “We don’t need no Freaking MASKS!”
Just bought tickets to see Dar Williams on Saturday, May 5. Been wanting to see her for a while (especially since we saw her when she opened for Don McLean, and pretty much blew his hour and half out of the water with her half hour or so. I wish he’d get more back to folk, rather than doing a show of almost entirely ’50’s rock’n’roll). Add that to the 85 degrees we expect here in NY and he kids going back to school after a week at home, and it’s shaping up as a really nice day. (Also, too, Patriot’s Day is a lovely chance to root against the Red Sox before I have to get to sleep for the night’s shift. :-)
What a shitstain Breivik is. Giving a nazi salute in the courtroom.
My 2 kids in college both earned over $3700 last year so I could not claim them as deductions despite supporting them. The 4 biggest deductions I have left, in order of value, are mortgage interest, charitable giving , state income tax and property tax. Rmoney wants to take away two of those. It won’t hurt the boys in his club much if at all but it will be yet another erosion for middle-class tax payer.
And don’t think they don’t know it. When the great Reagan shift happened only a complete fool didn’t know the burden had been shifted from the rich to people who pay FICA taxes. The pols and the media were polite enough not to point it out but they knew what they were doing.
tech question to anyone who might be able to help
I just updated Adobe Flash to version 11. Now Youtube videos won’t display in Chrome. I can see them in Explorer. Also I can see them in Chrome if I use Incognito Mode. What’s up with this. I searched around on google and found some similar issues from last year with Adobe Flash 10, but none of the work arounds seem to work for me here. Something about turning off software acceleration.
Anybody know anything?
@magurakurin: I thought chrome had its own built in flash, ie, it doesn’t use the plugin.
Maybe look for multiple listings in chrome:plugins and disable the new one? Other than that, I got nothin.
Back to work after a weekend of house stuff. We ordered a lovely wooden glider bench for the side yard, and got it about half-way put together. We may finish the assembly by next weekend. Anything else we buy like this that has to be put together is coming from Lowes, and I’ll pay them to do it and to deliver the damn thing.
This thing from Ann Althouse trying to convince “liberals and feminists” that a single-earner household is greener and therefore it’s better for Mom to stay home is just too fucking bizarre to be believed.
@MikeJ: thanks for the reply. I think I’m getting old and the world is starting to whiz past me. Why can’t things be simple like they were yesterday?
One problem with that Tim Egan article. I don’t think he understands the vernacular when he uses the phrase “paper profits”. Generally when that phrase is used people mean unrealised gains that one could take, but for some reason hasn’t. For instance, if you bought a share of stock for $1 and it sold yesterday for $2, you have a paper profit of $1. You could make a $1, but you haven’t. And since you haven’t made money, you aren’t taxed on it at all.
When you sell that stock, you don’t have “paper profits”, you have actual profits, that is, cash in your hand. When Egan says Romney is paying 15% on paper profits he’s being misleading. Romney is paying a low rate on actual profits.
Multiple choice Mitt.
Actually, Patriots Day has made tomorrow Tax Day, according to my procrastinating husband. Apparently, if any state has a holiday, it’s enough to forestall the due date for taxes for the entire country.
the Conster (f/k/a Cat Lady)
Speaking of real Patriots, these Massachusetts millionaires call themselves Patriotic Millionaires for Fiscal Strength.
“The bad guys are the ones who don’t want to share their marbles. They must have had trouble as children.’’
“if you want a good country, you have to pay for it.’’
“I don’t want to be a rich guy in a second-rate country,’’
These guys: not Massholes.
@Ash Can: Actually, I think the one-day delay in Tax Day is due to a holiday in Washington DC, Emancipation Day.
My income tax refund has already been spent.
At my last job, I was an independent contractor and so I was taxed like I was self employed. That lasted about 5 years or so.
At this job, I’m considered a regular employee, although I am paid by unit of production rather than time. At any rate, they withhold money for taxes and stuff. Much, much easier.
It seems to me that taxes are more complex than they used to be. I don’t resent paying taxes. I do resent rules, regulations, and exceptions that I don’t understand.
At any rate, happy tax day to everyone. I wish smooth sailing for everyone.
Oh, hell. As usual I sent the IRS my Form 4868 and no money, putting it all off until October. Procrastination is my middle name. Penalty and interest is my game.
Davis X. Machina
@Linda Featheringill: The complexity comes from the mass substitution of tax preferences for direct government expenditure.
The EITC could be a guaranteed national income floor.
The HOPE and other education credits could be a massively expanded system of Pells and Staffords
The deductability of medical insurance premiums could be a single-payer system.
And so on.
Oh, so Mitt is going to take away tax deductions that are used by the middle class/upper middle class – relatively small time real estate investors etc. as far as the second home mortgage deduction and I would be willing to bet the state tax deduction affects the middle class more than the top .1 – 1.0 percent. I say I am shocked. Just shocked. These people are totally shameless. Also too, I am sure taking away the second home mortgage deduction is going to be great for the housing industry.
Ann Romney on the Rosen “controversy”:
Wow, she’s as contemptible opportunist as he is.
@mai naem: The logical way would be to phase it in over 30 years, so it is never a huge whack to real estate.
But that would be logical.
Like that gas tax proposal of slowly and continuous increases to wean us off foreign cheap oil.
not gonna happen.
Good Morning, Everyone.
As we begin this week, I think we already know what will be happening.
The MSM, as usual, will be trying to find anything to attach negatively to this President.
Follow the clues, folks.
We had, last week, a variety of polls, all of which had the President leading Willard by far outside the margin of error.
Last month, we had the FOX NEWS poll telling us that the President’s lead with Latinos was 70 – 14%.
The latest Rasmussen poll had POTUS at 50%. Always with Ras, if the best they could do with the President was 50%, that means to me that the President is actually at 55-57%.
Then, the latest poll of the Purple Swing States, where not only is the President leading Willard outside of the Margin of Error, but that the internals show the President with an 18% lead among women, while he is even with men.
That gap with women has been confirmed by other polls.
Then, WAPO tried some bullshyt about The President winning SINGLE women, but trailing badly among married, while PEW threw shade on that bullshyt showing POTUS trailing married women by 2 points. IN WHAT WORLD is 2 points ‘ trailing badly’. 2 points is the MARGIN OF ERROR, which means he’s even with Willard.
This is all about MONEY.
CITIZENS UNITED MONEY.
IF the President is within the margin of error with men
AND leading women by 18%.
I don’t give a rat’s ass how many voter suppression laws they pass..
there IS no horserace.
and, IF therei s no horserace,
then they can’t get their hands on that Citizens United money.
Just wanted to remind folks of that this morning.
Any one who takes Willard’s (or anyones) casual talk about eliminating agencies with any degree of seriousness is an idiot and deserves to be massively disappointed when it doesn’t happen. I don’t know whether or not Willard actually believes that he can sit down and easily eliminate/combine agencies by fiat, but if he does he doesn’t know how government works and has no idea how Washington works.
I saw this past Friday’s Real Time with Bill Maher, and my god, Matthew Continetti (‘combat journalist,’ his term for anti-liberal douchebags in the conservamedia) is the most obnoxious, self-satisfied little shit imaginable.
He was snotting off about Reagan’s tax policies and what they really were to David Fucking Stockman — you know, Ronald Reagan’s budget director.
And when Stockman reminded the little shit that he knew of what he spoke, the smug little shit never once acknowledged his bleak error or corrected himself in the slightest.
Just for once I’d like to see somebody on these shows just openly mock / imitate / parody these shits’ tendency to spew idiotic lies with the most self-satisfied indulgent spoiled-rotten Dauphin smiles. They’re almost like Saturday Night Live parodies of themselves, just without the tinge of humor and humanity necessary.
All hail the power of nepotism and wingnut welfare.
@rikryah: I believe it was James Carville who said something to the effect of whoever’s leading in the polls around Labor Day will be the winner in the election. The rest of it is just media making crap up to get eyeballs. Logically I want to think that way but I am such a pessimist that I feel thinking like that would ,firstly, have people siting at home not showing up to vote and, secondly, it would jinx it. My thought processes are pathetic.
So what was that Americas Summitt supposed to declare that it couldn’t since Florida is a swing state and unlike China, we can’t trade with Cuba until its not commie no more any longer?
Just a reminder. Steve Benen has this column, actually finding Willard’s Lies of the Week. \
Chronicling Mitt’s Mendacity, Vol. XIII
By Steve Benen – Fri Apr 13, 2012 2:00 PM EDT.
Mitt Romney recently felt comfortable lecturing journalists about, of all things, “quality control” when sharing the news with the American public.
As Ed Kilgore joked, “Now I suppose when you have already developed a reputation for towering mendacity on subjects large and small, a medium-sized lie about your views on media accuracy is as easy as changing those jeans and a lot easier than changing your entire political persona on a regular basis. But you might think at some point the man would fear being struck down by a thunderbolt right on the spot if he lectures the media — old or new — about ‘sourcing’ and ‘quality control.'”
If the presumptive Republican nominee has any such fears, he’s not showing it. Those looking for proof need only consider the 13th installment of my weekly series, chronicling Mitt’s mendacity.
1. Romney told voters about the cost of the Affordable Care Act, “[W]e’ve just learned from the CBO, it’s not a trillion dollars. It’s more like double that…. Obamacare is massively more expensive than had been originally estimated
That’s not even close to being true.
Rest of the column, as well as links to the previous TWELVE:
@dmsilev: M-80 and I stand corrected, then. Thanks for the info.
Where were the voices of outrage about deficits from GOP voters from 2000 through 2008 when the Bush Administration and a compliant GOP-controlled congress were busy quickly turning a modest projected federal surplus into enormously increases in expenditures and an exploding debt? There was naught but the sound of crickets in the night from them until, by amazing coincidence, they underwent mass epiphany sometime in late January 2009 and were in full roar of bull elephants about it before that winter’s snows had finished melting. There’s an amazing discontinuity of history for them in that somehow all evidence of what happened with federal fiscal policy 2000-2008 has mysteriously vanished from history until January 20, 2009 when suddenly a great monster from Kenya appeared on the scene and sin
Davis X. Machina
Federal fiscal policy 2000-2008 was good fiscal policy(1). The only flaw was that it couldn’t be more aggressively re-distributionist. Just couldn’t get the rubes to demand privatized SS. Missed it by that much.
Present federal fiscal policy is bad fiscal policy, insofar as it is not good fiscal policy.
Ideal federal fiscal policy would be very, very bad fiscal policy.
1. ‘Good’ defined as ‘in conformity with conservative political norms, and the appropriate exercise of state power, i.e blowing up brown people who worship the wrong God. And giving a nice police escort to your friends’ getaway cars en route to the Caymans.’
Charles Pierce may never have written a finer column than this one today, “”There is no more mission in Afghanistan anymore….,” and in doing so has provided the definitive epitaph for the contemporary American corporate media:
The Republic of Stupidity
Willard may indeed be a ventriloquist, but that extra voice is coming from some other opening other than his mouth…
I have been reading some of the news stories about Piermario Morosini, the Italian football player who collapsed and died, at the age of 25, while playing in a Serie B match on Saturday. This bit from the Guardian is particularly heartbreaking.
@Southern Beale: I figure the correct response to the Althouse column is “exactly, that’s why we should have massive wealth redistribution and a guaranteed minimum income”.
Or maybe “Yes, I agree that we should encourage Dad to stay home with the kids.”
This kind of thing makes me sad for our culture
I’m betting once Fidel bites the dust, you will start to see a change towards Cuba.
Willard is also selling tickets to a post-election “Inaugural Retreat” in California for donors of $50,000 or more.
He’s so excited to bring back the culture of corruption, he’s kicking it off 9-months early.
The household (both of us) got sick as dogs, and I had to beg out of my regular ham radio volunteer stint at the Boston Marathon.
I’ve learned that because of the incredible temps that vols were going to be allowed to wear shorts for about the first time ever.
Right. 20 percent across the board tax cut that will be progressive. And afterward, Mitt will pull a jackalope out of his ass.
The problem with Bush & Co. was that they were not sufficiently conservative enough. The Republican base sort of bit its tongue because in exchange for security – those guys were scared shitless after 9/11/01 – they were willing to tolerate Bush & Co.’s liberal excesses, such as Medicare Part D.
Also, too the alternative would’ve invariably been worse.
The problem for Republicans in 2006 and 2008 is the non-Part-base that voted for Bush, Jr. in 2000 (and some in 2004) bolted in 2006 because two unending wars, corruption and the like finally got their attention.
For the Republican base, the lesson wasn’t that Bush & Co. and the Republican agenda weren’t effective. It is that they failed to be truly conservative enough.
You see, conservatism cannot fail, it can only be failed. Thus we have the massive rightward shift of the GOP that isn’t going to end anytime soon.
Also, too this country was rigged to disproportionately favor small states with political power greater than their over all population. Most small states are solidly Republican. You aren’t ever going to push changes through because the majority of Americans want it. The vocal minority can always be an obstacle.
I’m still pissed off because one of my employers issued a 1099-MISC for $600 of a legal settlement that they had to pay out to several thousand of us, which meant that instead of getting an $800 refund, I had to PAY federal tax. WTF?
I’m holding Yutsano personally responsible for this.
@Mnemosyne: You had to pay more than $800 of federal tax because of a $600 payment? Was it some kind of perverse threshold effect?
Not exactly. In addition to being Patriots Day in Massachusetts, today is Emancipation Day in DC, and it’s the DC legal holiday that pushes the tax filing deadline to tomorrow.
Pro tip: if you mail anything to the IRS or a state tax agency today or tomorrow, go to the post office, send it by certified mail, return receipt requested, make sure the person at the post office stamps your green and white receipt with an official Postal Service postmark, and don’t lose the receipt. That official postmark is your evidence of timely filing, and the extra cost of sending it that way is a lot less than a late filing penalty.
I can relate. We’re filing in April for the first time in at least 15 years. The reason: we had to do our return in order to have all the info required to fill out the kid’s financial aid application.
@Ronzoni Rigatoni: I had to take an extension a few years ago because there was some 1099-something or other that I couldn’t find, though I had a pretty good estimate of the number on it. I looked all over the house for it. Months later, when the extension was running out, I realized that the reason I couldn’t find it was that it was the one thing I’d filed in the appropriate place I’d allotted a year earlier for tax information.
Also, I have to say that TurboTax has made it all quite painless for me in recent years; my tax situation is in a sweet spot where it is actually useful, though the version applicable to me does cost money. The only hard part is gathering documents; everything after that is a piece of cake, the biggest timesaver probably being that it saves you from entering the same personal information over and over.
the Conster (f/k/a Cat Lady)
OT, but who could’ve predicted that Kenyans would win the Boston Marathon again.
@burnspbesq: Wow, how are you getting away with filing the FAFSA so late? My spawn’s school wanted it filed by February 15.
We filed it on the March 1 deadline. And he got a very generous offer; male dance students are a hot commodity, and schools compete to get them.
@the Conster (f/k/a Cat Lady):
Obama rigged it for them.
Agreed. No one in Congress should be allowed to let anyone else do their taxes.
It would be simplified straight away.
the Conster (f/k/a Cat Lady)
I did see his henchman Deval Patrick say something to the winners – prolly told them they’d end up like Vince Foster if they confessed to having the white guys offed in Newton somewhere.
Reminder: Form 4868 is an Extension of Time to File, not an Extension of time to pay.
There are two new forms this year, which can help taxpayers filing an extension, who also claim a hardship for taxes owed and also request an extension of time to pay. These are Forms 1127 and 1127-A. If you use these forms, you must pay taxes owed by October 15. There are other situations for taxpayers requesting installment agreements.
Also, due to budget cuts, some main post offices are closing at 10 pm on April 17. If you are a major procrastinator and roll up to the Post Office at 11:55 pm, you might be in for an unpleasant surprise.
Electronic filing can help you avoid these hassles. Extensions can be electronically filed as well as the full tax return.
@Brachiator: One point on the form 1127: you have to have been unemployed for at least 30 consecutive days during 2011 or up until April 2012. Otherwise the extension is not worth filing for because it will get denied.
Yep, thanks for noting this. This form only applies in some narrow circumstances. And some people who owe would not be able to pony up by October 15.
But it may be an option for a few.
We had some good news re taxes; the income tax free threshold has/is going up to$18200 from $6000/yr. should be nice for p/t and low income earners. But of course our minimum wage is about $16.00/hr. universal healthcare and all. You poor bastards :)
My feelings at Chuck Colson’s passing are summed up by a comment I read recently on the Net which I think was referring to Andrew Breitbart’s passing as well: