Showing posts with label Taxes. Show all posts
Showing posts with label Taxes. Show all posts

Saturday, December 1, 2012

Romney’s Victory Website: And The Ugly Truth About Politics

It appears that Mitt Romney and his GOP “posse” had a Vision that the Election was going to yield a landslide victory! Although they could not have been more wrong, their arrogance was palpable. I am sure by now you’ve heard reports about Mitt Romney admitting that he only wrote a Victory speech. That is more than positive thinking, that is sheer arrogance (and not the most attractive trait in a candidate). Fox news, and other conservative media outlets had pre-election panels, and Election-day panel discussions, that harshly laid out reasons why Democrats, and Obama, will be shown the door. During the early afternoon on November 6th, the conservative news anchors and pundits entertained themselves by predicting what the Romney Cabinet would resemble. Who are the likely candidates for the Romney Administration, and who would be passed over for one reason or another. It was not unlike pre-Super Bowl chatter, only this game will impact the entire country, and the world. As the day progressed, the conservative political analysts were confident and excited.
There seem to be such utter certainty, that I was startled by it. It was like being in an alternate world, chiefly because I couldn't see how one-plus-one could equal four. It appeared that Fox News, and conservative Talk Radio, converted simple math (adding likely Romney votes) into an algebraic equation....and it all made sense to THEM. Looking at the issues influencing voters, which bore out to be true, I took note of the following issues:

Women in America want the right to choose what goes on with their bodies, and don’t appreciate being referred to as “Binders of women”
Latinos are concerned about immigration laws that impact their children and families.
FEMA should be left alone; States and local governments, and citizens need financial help after Natural Disasters .
A sizable portion of the “47%”, Romney wrote off, were retired, or veterans who have paid a lifetime of taxes, or risks their lives fighting for this Country. They’ve earned the right to Social Security, and other government programs
Auto Makers, their 181,000 auto workers and their families were happy that Obama didn’t take Romney’s advice to “let them go bankrupt”
Gays are passionate about having heir marriage legally recognized, giving them the same rights as heterosexual married couples.
Youth votes are more likely to vote for Democrat, given the “Occupy Wall Street” movement, which blames the wealthiest 1 %, and the Bush Administration for the economic and fiscal crisis

The above political and social issues can be translated to a simple addition problem. Accordingly, the 7 bullet points could be treated as an aggregate of votes away from the republican candidate, Mitt Romney. Although the slow economy and high unemployment were working against Obama, as long as the turnout were as strong, or better than 2008, he had a good chance of winning re-election.

So why then, were the Republicans and Carl Rove so vehemently certain that Romney would be elected the 45th President of the United States? To the extent that he had his Victory Website rolled out early Thursday morning?

Perhaps this tidbit of information will provide a clue: Shortly after Obama’s stunning victory, I read a disturbing article that attempted to explain a complicated web of investment companies and venture capital that involved Mitt Romney’s son, Tagg Romney. In a nutshell, Tagg Romney owns the company that invested in the company that bought a controlling interest in a Voting Machine Vendor. What? I was so shocked, that it took the wind out of me. What this amounts to is so incredibly unethical, I can’t help but to think of Watergate. So, that explains the why the Romney camp felt so sure they would be moving into the White House. This is unfathomable and beyond a mere “conflict of interest” issue. This also explains why several concerned voters released video tapes the rigged voting machines they encountered, and posted it on YouTube. One male Caucasian Voter illustrated that when he chose Obama for President, a check would appear next to Mitt Romney’s name. He tried it multiple times, and eventually left that booth. He did not indicate who he ultimately voted for, but stated that he just wanted to report a “strange” occurrence.

Provided below is just one of the "Rigged Voting Booth" videos.


The combination of the Tagg Romney’s secret ownership of a voting machine company, and the YouTube videos of rigged voting machines is too much of a coincidence. I also believe that if this Article was misstating the facts, there would have been a lot of noise and defamation claims coming from the GOP or the Romney camp. Instead there is silence - as if the planned strategy was not to respond, so that the issue would quickly go away. I am almost certain that the Obama Administration is too busy to pursue the matter, especially since the stolen votes did not help them achieve their goal. The outcome of the this election, begs the questions: If Nixon hadn't won the election, would the Watergate break-in become the scandal that rocked Capital Hill - to destroy Nixon's political career? Given the lack of attention drawn to the Rigged Voting Machines connected to Tagg's Venure Capital Company, I can't help but wonder if Watergate would have become one of the biggest scandals in America's political history, if Nixon did not get Elected? Whatever the case, politics is left with a black eye, as democracy stumles on.

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K Reilly
The Cohn-Reilly Report
www.Facebook.com/Cohn.Reilly

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Wednesday, July 14, 2010

Federal Tax Increases Could Affect
Lower and Middle Income Families

Tax cuts that were put into place by the Bush Administration are scheduled to expire at the end of this year. There could be some significant changes that will take people by surprise. The public has been led to believe that only tax payers in the top two brackets will face higher federal income taxes when the Bush cuts are gone. This may not be the case if Congress and the President fail to act. There are currently six rate brackets - 10%, 15%, 25%, 28%, 33% and 35%. They will be replaced by five new ones: 15%, 28%, 31%, 36% and 39.6%. A few months back it was thought that Congress would keep the old brackets to protect lower and middle-income families. It is now uncertain if this will happen.

There will be higher capital gains and dividends taxes.Right now, the maximum federal rate on long-term capital gains and dividends is only 15%. Starting next year, the maximum rate on long-term gains will increase to 20%. The maximum rate on dividends will skyrocket to 39.6% unless action is taken to limit the rate to 20%, as the President has repeatedly promised. For people in the lowest two rate brackets of 10% and 15%, the current rate is 0% for long-term gains and dividends. Starting next year, those people will pay 10% on long-term gains and 15% and 28% on dividends (compared with 0% now) unless a change is made. Otherwise, taxes on long-term gains and dividends will go up for everyone.

Currently, the standard deduction for married joint-filing couples is double the amount for singles, easing the so-called marriage penalty (see this link for more information http://en.wikipedia.org/wiki/Marriage_penalty) that can force a married couple to pay more in taxes than when they were single. Starting next year, the joint-filer standard deduction will fall back to about 167% of the amount for singles unless Congress takes action and the President approves. If that doesn’t happen many lower and middle-income couples will face higher tax bills. In the current system, the bottom two tax brackets for married joint-filing couples are exactly twice as wide as those for singles. That ratio helps keep the marriage penalty from biting lower and middle-income couples. Starting next year, the joint-filer tax brackets will contract, causing higher tax bills, unless a change is made.

The tax cuts in place now offer tax relief to most Americans who pay federal income taxes. The scheduled demise next year will raise the tax bill of nearly every taxpayer, unless Congress makes changes and the President jumps on board.

C. Cohn
Cohn-Reilly Report

___________Comments

Erin Thak said.....
In the short-term some of the Obama Administration‘s policies and regulations may appear to be more toxic than they really are. Like anything else, time may prove otherwise. I remember thinking that NAFTA was a good, progressive idea, which after 15 years, has proven to have a horrific impact the US. NAFTA commenced an huge increase in outsourcing resulting in the loss of 1.7 million jobs, as well as suppressed wages, due to the extremely low cost of doing business in Mexico. As brilliant as Bill Clinton is, he was unable to see the long-term ramifications of NAFTA, nor was any of the geniuses in his administration. So I remain guarded but hopeful that in the long run, the best interest of the country is being protected. This administration can’t do any worse than the previous one.
JULY 15, 2010 11:27 PM


Charlie said.....
I agree about NAFTA and the prior administration. However, I hope the new regulation laws do not have adverse affects on the many good companies that are not guilty of unethical practices and actually employ most of us. Also, as I mentioned above, I hope the President and Congress are aware of the impact that the reversal of the current tax cuts will have; not only on the wealthier citizens, but on the lower and middle-income tax payers as well.
JULY 16, 2010 10:55 AM

Katherine said.....
I agree 100% with Erin, as you well know Charlie, given our recent debate. However, Your point is well taken regarding the reversal of Bush's tax cuts. I cannot imagine that (with the dozens of economic and financial advisors on the Obama Administration's advisory board) no one is emphasizing this critical issue to the President. Although the Republicans are normally not cheerleaders for the middle class, this is one time that I hope the Republicans make this point loud and clear.
JULY 17, 2010 7:10 AM

Charlie said.....
I agree that the Administration has an ample supply of advisory personnel. However, the year is slipping away and with all the current distractions including a war, regulation, health care, etc., will there be enough time to mount sufficient effort to tackle this issue? Also, it is not just The Administration that must act - Congress has to move too. We all know that nothing gets done overnight in Washington and December 31 is closer than you think.
July 19, 2010 6:03 AM