2012 US Election -- Round 2

[Wumbologist]

Sounds like we're starting to get some details on Romney's history of tax dodging: http://freakoutnation.blogspot.com/2012 ... omney.html

[macdoc]

Bush’s FEMA Director During Katrina Criticizes Obama For Responding To Sandy Too Quickly

By Hayes Brown on Oct 30, 2012 at 1:04 pm

Former FEMA Director Michael Brown offered criticism of President Obama’s early responses to Hurricane Sandy yesterday,

http://thinkprogress.org/security/2012/ ... ama-sandy/

[Wumbologist]

Bush’s FEMA Director During Katrina Criticizes Obama For Responding To Sandy Too Quickly

By Hayes Brown on Oct 30, 2012 at 1:04 pm

Former FEMA Director Michael Brown offered criticism of President Obama’s early responses to Hurricane Sandy yesterday,

HAS to be The Onion.

[Coito ergo sum]

Sounds like we're starting to get some details on Romney's history of tax dodging: http://freakoutnation.blogspot.com/2012 ... omney.html

Yawn. Read the whole article. It reports on a $750,000 charitable remainder unitrust. $750,000 is not a big percentage of Romney's income and could not possibly account for him paying zero taxes. And, it's not a "dodge" it's a legal deduction.

The unitrust sits there and only "defers" taxes until the money comes out of the trust. He earns 8% on the trust funds per year, and pays taxes on that. He can't use the money for anything while it is in the trust, and if he takes it out, it's subject to taxation. Big flippin' deal.

And, as far as that being proof that he really doesn't give money to charity -- i repeat -- it is only $750,000 -- and in 2011 alone he gave about $4,000,000 to charity.

[Gerald McGrew]

Chris Christie praises the Obama administration's response to Sandy...

[youtube]http://www.youtube.com/watch?v=9WV9F_Zn ... r_embedded[/youtube]

Meanwhile, refuses to say if he wants to eliminate FEMA...

http://www.huffingtonpost.com/2012/10/3 ... _hp_ref=tw

But given his statements on the subject during the primaries, it's not too difficult to see what he really wants to do...

[youtube]http://www.youtube.com/watch?v=OhXyJeKa ... r_embedded[/youtube]

[Gerald McGrew]

Romney's car ad that implies Jeep is moving production to China has been rated "a pants on fire" lie by Politico, and given 4 Pinocchio's by the Washington Post:

http://www.politifact.com/truth-o-meter ... china-ame/

http://www.washingtonpost.com/blogs/fac ... _blog.html

So how does team Romney respond? By broadcasting it more widely.

http://www.dailykos.com/story/2012/10/3 ... -it-louder

[Warren Dew]

Romney's car ad that implies Jeep is moving production to China has been rated "a pants on fire" lie by Politico, and given 4 Pinocchio's by the Washington Post:

Which just proves how biased Politico and the Washington Post are, considering the company itself has said it's moving Jeep production to China, just as the Romney ad says:

In a Bloomberg interview, Jeep's president said the automaker plans to restore Jeep production in China, suspended in 2009, and is considering making all Jeeps in China. "Fiat SpA, majority owner of Chrysler Group LLC, plans to return Jeep output to China and may eventually make all of its models in that country, according to the head of both automakers' operations in the region," reported the business wire service.

http://washingtonexaminer.com/jeep-an-o ... JBWkWbqWPI

[Gerald McGrew]

Which just proves how biased Politico and the Washington Post are, considering the company itself has said it's moving Jeep production to China, just as the Romney ad says

Except they're not. They're expanding production in China (because they're selling more cars there), not moving it to China. Oh, and the CEO of Jeep-Chrysler says you're full of shit too...

http://thecaucus.blogs.nytimes.com/2012 ... -to-china/

[Warren Dew]

Except they're not. They're expanding production in China (because they're selling more cars there), not moving it to China. Oh, and the CEO of Jeep-Chrysler says you're full of shit too...

Chrysler imported 11,000 cars to China in the first half of 2010. Now they'll be building them there. Sounds like moving production there to me, even if the exec is now trying to back off from his earlier admission about what he was doing.

[Santa_Claus]

Given the horrendous import duties on Cars imported into China then the choice is either a) make Jeeps in China or b) not sell very many.

Option b) involves ignoring the world's biggest market. and losing the advantages (including in other markets - foreign and domestic) from scale of production, for both current and future vehicles.

[Tero]

Oh no, he cut the banks off, he is a socialist!

He doubled funding for Pell Grants, helping to make college more affordable for nearly 10 million families.

His student loan reform ended billions in subsidies to banks serving as middlemen and reinvested those savings directly into students.

The President established the American Opportunity Tax Credit, worth up to $10,000 over four years of college.

His Race to the Top Initiative helped spur nearly every state to raise academic standards.

His tax cuts, social-welfare programs, and economic policies lifted nearly 7 million Americans above the federal poverty line in 2010.

President Obama has signed 18 tax cuts for small businesses since taking office.

[kiki5711]

[quote]The unitrust sits there and only "defers" taxes until the money comes out of the trust.[/quote]

And when is that?


After he and his wife both die.

Read the information in full.

[Coito ergo sum]

Which just proves how biased Politico and the Washington Post are, considering the company itself has said it's moving Jeep production to China, just as the Romney ad says

Except they're not. They're expanding production in China (because they're selling more cars there), not moving it to China. Oh, and the CEO of Jeep-Chrysler says you're full of shit too...

http://thecaucus.blogs.nytimes.com/2012 ... -to-china/

The quote Warren showed you stated "considering moving ALL Jeep production to China." The Detroit News article described the Bloomberg article as "accurate."

[Coito ergo sum]

The unitrust sits there and only "defers" taxes until the money comes out of the trust.[/quote]

And when is that?


After he and his wife both die.

Read the information in full.

What's the difference? The money they earn from the trust is taxed, and if the trust is broken or the money withdrawn from the trust, it is immediately subject to taxation, regardless. That's what tax deferral is. Defer means to "put off" -- it doesn't mean "tax free."

Similarly, you can put money in a tax deferred IRA. I.e. - you don't have to pay tax on it now, when you put it in the IRA, but when you start withdrawing it, you pay taxes on it.

[Coito ergo sum]

dupe