I got one of those self-serving mass emails today from that sleaze Dick Morris, who had been predicting a Mitt landslide.
He says that O won because of Sandy and because Mitt’s “Orca” get-out-the-vote computer app didn’t work.
I think if the GOP wants to believe they’ll win so long as there is no hurricane and they fix their app, that they don’t need to fix themselves, why not let them labor under that delusion and keep losing?
For a party that preaches personal responsibility, they certainly seem incapable of internalizing that message.
For a party that criticizes Obama’s “gifts” to get votes, they’re certainly fond of their “carried interest” gift that lets Mitt and his friends pay a lower tax rate than I do on far less income.
HI Janice: High earners like Mitt Romney and small business owners pay most of their taxes at the capital gains tax rate. There is a good reason the rate is lower. Often times, they have already paid income tax on the money they are investing. The capital gains tax becomes the second round of taxes they pay on the same money. In addition, capital gains is income that is earned through riskier means, such as business ownership and investments. The chance of losing some of the investment is very real. If the CG rate goes too high, the government is increasing the risk to investing in the economy for Americans, which hurts job creation by drying up capital for businesses. Hope this reasonably explains the difference in tax rates between a secretary and a millionaire. Always enjoy your insights. Thanks for letting me weigh in.
The carried interest rule for hedge fund/private equity guys is just a loophole to tax their ordinary income at a lower rate.
I’m not talking about capital gains, just carried interest. And it’s not just a GOP problem. Chuck Schumer has been one of the worst at protecting it. Or one of the best if you’re a Wall Street guy!
The Republicans continue to lose their grip on reality and as a consequence will continue to lose their grip on any real chance of winning elections, both presidential and congressional in the foreseeable future which I feel will include 2016.
The new Yankees dynasty is the Obama presidency.
Very tough to win three presidential elections in a row. People feel it’s time to clean house and get a different set of bums in.