The Last Of The Millenniums

Just because it always has been, doesn't mean it always will be

Archive for the day “June 18, 2012”

A ‘Conservative’ vision for America – ‘The Romney’s Horse-Related Tax Deduction in 2010 Exceeded the U.S. Median Household Income’

Imagine. A ‘hobby’ that gives you a $77,000 tax deduction.

I need to get a new ‘hobby’.

‘Dressage horse competition is Ann Romney’s hobby. She buys the horse, pays for its food, shelter and veterinary care (and travel) and she pays for the trainer’.

‘The Romney campaign hasn’t spelled out what kind of tax deductions it wants to close in order to pay for lower headline income tax rates, but perhaps something related to horses could do the trick’:

‘As millions tune into the Olympics in prime time this summer, just before Mr. Romney will be reintroducing himself to the nation at the Republican convention, viewers are likely to see “up close and personal” segments on NBC about the Romneys and dressage, a sport of six-figure horses and $1,000 saddles’.

‘The Romneys declared a loss of $77,000 on their 2010 tax returns for the share in the care and feeding of Rafalca, which Mrs. Romney owns with Mr. Ebeling’s wife, Amy, and a family friend, Beth Meyers’.

‘Meanwhile, the median household income in the United States in 2010 was $45,800’.
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Mitt Romney – in touch with the common man

A ‘Conservative’ vision for America – ‘Romney: No need to detail how I’ll pay for massive tax cuts. Just trust me’

Would you buy a house without knowing it’s condition?

Would you buy a car without knowing it’s condition?

Would you buy a sandwich without knowing what’s in it?

Well Mitt Romney wants to sell you an economic plan without telling you what’s in it.

SCHIEFFER: ‘You haven’t been bashful about telling us yo want to cut taxes. When are you going to tell us where you’re going to get the revenue? Which of the deductions are you going to be willing to eliminate? Which of the tax credits are you going to — when are you going to be able to tell us that’?

ROMNEY: ‘Well, we’ll go through that process with Congress as to which of all the different deductions and the exemptions’ —

SCHIEFFER: ‘But do you have an ideas now, like the home mortgage interest deduction, you know, the various ones’?

ROMNEY: ‘Well Simpson Bowles went though a process of saying how they would be able to reach a setting where they had actually under their proposal even more revenue, with lower rates. So, mathematically it’s been proved to be possible: We can have lower rates, as I propose, that creates more growth, and we can limit deductions and exemptions’.

‘And in his first reply above, he confirmed that the details would be worked out with Congress when he is president — which is to say, not during the campaign’.
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Mitt Romney Lies #17 – “He (Obama) was president for the last three and a half years and did nothing on immigration”.

‘October 2010: Mitch McConnell told Major Garrett of National Journal the Republicans top priority is to make President Obama a one-term President’:

‘MCCONNELL: The single most important thing we want to achieve is for President Obama to be a one-term president’.
~ ‘Mitch McConnell, October 2010’

‘September 2010: Senate Republicans Filibuster (block) DREAM Act’

‘December 2010: Senate Republicans Filibuster (block) DREAM Act’

‘May 2011: Harry Reid re-introduces DREAM Act in the Senate but Republican’s vowed to withhold their votes’.
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‘Factually speaking, it is Republicans who have done nothing except Filibuster immigration since President Obama took office.
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A ‘Conservative’ vision for America – ‘Romney’s Profit from Bain’s Buyouts: Up to $20,000 Per Laid-off Worker’


If a CEO of a private equity investment firm becomes President of the United States, look at your employer and ask yourself – ‘Do you feel lucky punk. Well do you’?

Because that CEO President has experience in creating wealth for investors. Not paychecks for employees.

And THAT is how legislation will be written by Conservatives.

Corporations and wealthy millionares and billionares are funding their elections.

They WILL expect a return on that investment.

Wealth for a few MIGHT, MIGHT trickle down to jobs.

While it sounds ugly, private-equity investment firms do not create jobs. They create profits/wealth for their investors.

And the ugly truth is that if/when a company goes bankrupt, a private equity investment firm will find a way to make a profit for itself, NOT the employees of the company.

Because that’s it’s purpose.

So when Mitt Romney says he knows how to create jobs, you can only look at his record as Governor of Massachusetts.

‘Bain Capital booked $1.995 billion in profits from the layoffs of 11,030 workers at various firms. And by that scoring, Romney earned roughly $20,000 himself for each of those fired employees’.
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• ‘American Pad & Paper: Bain invested $5 million in the small paper company in 1992, and reportedly collected $100 million in dividends on that investment. AMPAD went bankrupt in 2000, laying off 385 employees’.

• ‘Dade Behring: Bain Capital invested $415 million in a leveraged buyout in 1994, borrowed an additional $421 million, and ultimately walked away with $1.78 billion. Dade filed for bankruptcy in 2002, and 2,000 workers lost their jobs’.

• ‘DDI Corporation: Bain Capital reportedly invested $46.3 million in 1997, reaping $85.5 million in profits and an additional $10 million in management fees. When the company later went bankrupt, 2,100 workers were laid off’.

• ‘GS International: In a somewhat less profitable transaction, Bain Capital invested $60 million in 1993 and received $65 million in dividends. This company, too, went bankrupt in 2002, and 750 workers lost their jobs’.

• ‘Stage Stores: Bain invested $5 million to purchase the company and took it public in the mid-’90s, reaping $100 million from stock offerings. Stage filed for bankruptcy in 2000, and 5,795 workers reportedly were laid off’.

‘Massachusetts ranked 50th out of the 50 states in job growth during Romney’s first year in office, and things improved very little thereafter. By the end of his term, Massachusetts was still 47th, ranking above only rustbelt states Michigan and Ohio and Hurricane Katrina-wracked Louisiana. While jobs were growing nationwide at more than 5%, Massachusetts limped along at a bare 0.9% growth rate’.
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A ‘Conservative’ vision for America – Romney – “I don’t believe we need to have a war powers approval or special authorization for military force”. – Iran, the next unpaid War!

He won’t tell us ANY details of an economic plan, but is chomping at the bits to start ANOTHER WAR.

SCHIEFFER: ‘Let me turn to foreign policy. Bill Kristol, writing in the Weekly Standard this week, says we are reaching the time of consequence in our dealing with Iran on nuclear weapons. He says it is time for the President to go to the Congress and say, “I want you to authorize me to be able to use military force” if that becomes necessary. And he says if the President is not willing to do that, then the Congress should do it themselves. What’s your take on that’?

ROMNEY: ‘Well, I can understand the reason for his recommendation and his concern. And so he wants the President to take action that shows that a military Iran, that a nuclear Iran is unacceptable’.

‘And I believe it’s important for us to communicate that. I can assure you if I’m president, the Iranians will have no question but that I will be willing to take military action if necessary to prevent them from becoming a nuclear threat to the world’.

‘I don’t believe at this stage, therefore, if I’m president that we need to have a war powers approval or special authorization for military force. The President has that capacity now’.
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A ‘Conservative’ vision for America – ‘BCBS sued for tricking customers to leave better health insurance plans’

When corporations have the economic power and soon maybe the political power to put profits over people, this will be America.

‘When Blue Shield of California raised the rates for Robert Jeffrey Martin’s family insurance policy by 23 percent, the health insurer offered him two options: Stay in his expensive old plan or switch to a policy that offered his family skimpier benefits with a higher deductible’.

‘Martin, 59, knew finding a new insurer would be tough and felt like he had no choice. The Gilroy farmer, who grows olives trees and bottles his own olive oil, switched to the new policy’.

‘But then Blue Shield backed off on the proposed increase on his previous policy. When Martin tried to switch back, the insurer told him that was no longer possible because his old plan was closed to new members’.
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