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The Economist Slams Romney

The Economist magazine — who should be his biggest boosters — takes a long, hard look at Mitt Romney, and doesn’t like what they see.

A few quotes, but the whole article is worth reading:

All politicians flip-flop from time to time; but Mr Romney could win an Olympic medal in it (see article).

Would that Candidate Romney had indeed presented himself as a solid chief executive who got things done. Instead he has appeared as a fawning PR man, apparently willing to do or say just about anything to get elected. In some areas, notably social policy and foreign affairs, the result is that he is now committed to needlessly extreme or dangerous courses that he may not actually believe in but will find hard to drop; in others, especially to do with the economy, the lack of details means that some attractive-sounding headline policies prove meaningless (and possibly dangerous) on closer inspection. Behind all this sits the worrying idea of a man who does not really know his own mind. America won’t vote for that man; nor would this newspaper.

Mr Romney may calculate that it is best to keep quiet: the faltering economy will drive voters towards him. It is more likely, however, that his evasiveness will erode his main competitive advantage. A businessman without a credible plan to fix a problem stops being a credible businessman. So does a businessman who tells you one thing at breakfast and the opposite at supper. Indeed, all this underlines the main doubt: nobody knows who this strange man really is. It is half a decade since he ran something. Why won’t he talk about his business career openly? Why has he been so reluctant to disclose his tax returns? How can a leader change tack so often? Where does he really want to take the world’s most powerful country?

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State of Emergency

Gov. Rick Scott has declared a state of emergency for Florida, although some might wonder whether it is because of the approaching hurricane, or because of the impending inundation of Republicans arriving for the convention.

Isaac has already caused three deaths in Haiti. I hope everyone stays safe.


© Jim Morin

UPDATE: The Republicans have delayed the start of their convention until (at least) Tuesday because of Isaac.

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Late Night Political Humor

“Mitt Romney is worth half a billion dollars and he’s saying he pays 13 percent annually in taxes. Al Capone paid more than 13 percent in taxes, ladies and gentlemen.” – David Letterman

“Mitt Romney says he’s never paid less than 13% in taxes, which I think is fair because only 13% of his money is in this country.” – Jay Leno

“Paul Ryan just released his tax returns for the last two years, and it turns out he and his wife had a combined income of over $323,000 last year. To which Mitt Romney said, ‘See, I do reach out to poor people.” – Jay Leno

“Six days after Paul Ryan was picked to be Mitt Romney’s running mate, a shirtless photo of him finally turned up on TMZ. The photo of Ryan with his wife was taken six years ago while they were on vacation in Oklahoma, which raises an interesting question: Who goes on vacation in Oklahoma?” – Jimmy Kimmel

“Meanwhile, Mitt Romney is refusing to release more than the first four inches of his torso, though he insists he has nothing to hide.” – Jimmy Kimmel

“You know who’s hit the ground running? That Paul Ryan. This guy looks like somebody who would be holding seminars on condo flipping.” – David Letterman

“Paul Ryan is a dedicated congressman. He sleeps in his office. And I got to thinking, ‘What? Isn’t that what got Clinton in trouble?'” – David Letterman

“Today the Republicans are getting ready for the convention. They’re busy down there in Florida auditioning minorities.” – David Letterman

“On the first night, Mitt will be introduced by his money.” – David Letterman

“A new survey predicts that women and the elderly are more likely to vote in the presidential election. Which explains the new front-runner, Michael Buble.” – Jimmy Fallon

“The Pennsylvania voter ID law, according to one study… will disenfranchise 9% of the entire Pennsylvania electorate. But that’s the price you pay for preventing something that doesn’t happen.” – Jon Stewart

“Welcome to “The Tonight Show” — or as Comcast calls us, “The Expendables.” As you may have heard, our parent company has downsized ‘The Tonight Show’. We’ve consistently been number one in the ratings, and if you know anything about our network, NBC, that kind of thing is frowned upon. And more bad news. It turns out now we’ve been taken over by Bain Capital.” – Jay Leno

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Equal Pay for Equal Work?

I know this is a few months old, but it is both hilarious and interesting from a political viewpoint. Even monkeys (as well as dogs and birds) understand basic fairness.

So why do Republicans think it is fair when wealthy people pay a smaller percentage of their income in taxes?

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Just Starting to Gawk at Romney’s Taxes

Yesterday, Gawker published 950 pages of “internal audits, financial statements, and private investor letters” for companies and other entities in which Mitt Romney has a significant investment interest (mostly through Bain Capital).

The whole thing reeks of irony. Indeed, defenders of Romney scream that Gawker itself, while pointing out that Romney avoided taxes by using things like offshore accounts in the Cayman Islands, is organized under a shell company based in … you guessed it … the Cayman Islands. To their credit, the article in Gawker does explicitly acknowledge the irony, saying that “It is of course breathtakingly routine and legal for hedge funds and equity funds (and blog companies!) to locate themselves in the Cayman Islands for tax, regulatory, and privacy reasons.”

OK, we get it. Gawker is not known as a paragon of virtue. But do two wrongs make a right? Just because Gawker does something questionable, does it make it ok for someone running for president to do the same thing?

The bottom line is that nobody is questioning the authenticity of the documents released. And now that, a day later, actual tax experts are looking through the documents, they are finding tax-avoidance techniques employed by Bain Capital — when Romney was CEO and sole shareholder — that would not pass muster.

For example, Bain regularly treated management fees they earned as capital gains. The problem with this is that it is “not legal” and “if challenged in court, Bain would lose”. Of course, this is just the studied opinion of a tax expert (a professor of law at the University of Colorado), not the judgement of a tax court. But a tax court judgement could take years (or, more importantly, until after the election).

Other practices seen in the documents are highly questionable. For example, the practice of holding US dividend paying stocks in an offshore account and pretending (for accounting purposes) that you don’t own the actual stock, but instead own a derivative product that is identical in every way to the stock, except that it isn’t the stock, so therefore no US taxes are owed. According to another tax expert, who is a professor of taxation at the New York University School of Law, “taxpayers who engaged in it to avoid the dividend withholding tax were coming perilously close to committing tax fraud, in cases where the economic equivalence to direct ownership was too great.” Indeed, the IRS has issued notices warning against this practice. But Romney did it.

Contrary to what Romney has said, according to at least one tax expert “Bottom line: Mitt Romney has not paid all the taxes required under law.”

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Not Raised Right

Campaigning in Michigan today, where he grew up, Mitt Romney made a joke. He said “no one’s ever asked to see my birth certificate. They know that this is the place that we were born and raised.”

While this is a clear reference to discredited claims that Obama was not born in the US and is thus ineligible to be president, I think the not-so-subtle implication that the reason why nobody asks for Romney’s birth certificate is because he is white is off-the-mark. That would not only be racist, it would be ironic because Romney’s father was born in Mexico.

There’s a better explanation. Mitt Romney is just an insensitive jerk opportunist, who has no principles other than winning and making money.

He’s insensitive for making such a joke. He’s a jerk for thinking it was funny. And worst of all, he’s an opportunist for (once again) associating himself with the Republican lunatic fringe who is still screaming about Obama’s birth certificate. Sure, if you ask Romney point blank he will say that he believes Obama was born in the US, but he still campaigns with people like Donald Trump.

The fact that Romney is not willing to stand up to the voices of crazy in his own party is one of the things I most dislike about him. He will say or do anything to win. So he makes dog-whistle jokes like this, which he can then deny. Does he have any moral principles at all?

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Late Night Political Humor

“It’s only been six days that they’ve been together as a ticket, and already Paul Ryan is flip-flopping on everything. All week long, Romney has been attacking Obama on his $700 billion in Medicare cuts. Apparently Ryan in his plan had the exact same thought, until yesterday when Romney announced that Ryan had changed his position. They say this happens to everybody who gets too close to Mitt Romney. Suddenly your most firmly held beliefs just vanish. In fact the only way to avoid it is by only looking at a reflection of Romney in the mirror.” – Bill Maher

“Only one publication had a reporter with Mitt Romney and Paul Ryan on day one, ‘People Magazine.’ Or as Mitt Romney calls it ‘Corporation Magazine’.” – Stephen Colbert

“Are you excited about Paul Ryan? He’s a far, far-right ideologue. The Republican base loves him. He’s kind of an English-speaking version of Sarah Palin.” – Bill Maher

“Paul Ryan wants to dismantle Medicare as we know it, cut way back on unemployment benefits, raise taxes on the middle class, give much bigger tax breaks for the rich people. Or as your idiot brother-in-law puts it, ‘Finally someone who cares about me’.” – Bill Maher

“This ticket is supposed to be so anti-government and pro-business. Paul Ryan has been in government his whole life, practically from kindergarten. You know what the only business experience Paul Ryan guy has? As a teenager he drove the Oscar Mayer Wienermobile. A Republican inside a wiener. Usually it’s the other way around.” – Bill Maher

“New Rule: Stop implying that this Romney/Ryan bromance is somehow gay. You act like you’ve never seen an older millionaire take a bright young lad under his wing, dress in matching outfits and exchange doting looks while teaming up to save the country. It happens all the time and there’s nothing gay about it.” – Bill Maher

“Why is everything so off limits with Mitt Romney? We can’t ask him about his taxes, we can’t ask him about Bain Capital, his business for 25 years, we can’t ask him about his religion. How can a guy who is such a boring cypher have so many secrets? It’s like waterboarding Ryan Seacrest.” – Bill Maher

“Mitt Romney is predicting that as president, he will create 12 million jobs in his first term. Well, President Obama says a Romney presidency would result in lost jobs. Yeah, his and Biden’s.” – Jay Leno

“President Obama said today he is sticking with Joe Biden. Which means one of two things – either he thinks Biden is doing a good job or Hillary said no.” – Jay Leno

“There are these groups now called ‘Dark Money groups.’ Karl Rove heads one; the evil Koch brothers head another. They have spent more money on TV ads than all the Super PACs combined. They are called dark money groups because they don’t have to reveal where the money is coming from — no identity. It’s the fundraising version of a glory hole. Karl Rove is on all fours in the bathroom stall and whatever comes through that hole, he sucks.” – Bill Maher

“New Jersey Gov. Chris Christie is doing the keynote speech at the Republican Convention. He didn’t want to, but they’re going to lure him in by having Paul Ryan drive the Wienermobile.” – Bill Maher

“President Obama said today he’s working on a plan to release oil before November to lower gas prices. It will be released from our Strategic Election Reserves.” – Jay Leno

“New Rule: Scientists must explain how it’s possible that the tiny island country of Jamaica can at the same time possess all the most stoned people in the world and all the fastest people in the world.” – Bill Maher

“A new study found that about one percent of the U.S. population is allergic to gluten, while the other 99 percent are sick of having to hear about it.” – Jimmy Fallon

UPDATE:

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The Dumbing Down of the News


© Brian McFadden

Once upon a time, the media played an important role in educating citizens about the issues. Now they are just bought and paid for by corporations, like almost everything else.

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Does God Hate the GOP?

I don’t believe it for a moment, but you do have to ask the question

Four years ago, James Dobson and Focus On the Family actually ran an ad calling for people to pray to God to rain out Barack Obama’s speech at the Democratic National Convention in Denver. I don’t know how many people prayed, but it didn’t work. In fact, the weather was fantastic, with nary a cloud in the sky.

Ironically, four days later, the Republican National Convention was nearly cancelled due to Hurricane Gustav.

But Republicans continue to equate bad weather and other disasters with divine retribution. Glenn Beck said the Japanese earthquake and tsunami were a “message being sent” by God. Last year, Michele Bachmann said that an earthquake in Virginia and hurricane Irene were attempts by God “to get the attention of the politicians“. Pat Robertson blamed the earthquake in Haiti on that country’s “pact with the devil”, and said that Hurricane Katrina was God’s punishment for abortion. Jerry Falwell even said that God allowed the 9/11 attacks as retribution for feminists and the ACLU.

So what are Republicans going to say about the fact that next week’s Republican National Convention in Tampa, Florida is also being threatened by a hurricane? Currently a tropical storm, Isaac — whose name was taken from the Bible and literally means “he will laugh — is expected to gain strength and become a hurricane on Thursday. The projected path takes it right to Tampa on Monday, just as the convention starts.


© Weather Underground

The mayor of Tampa has said that he is prepared to call the convention off if necessary. Of course, hurricane predictions are often wrong, especially five days out. But I still find it hilarious that ever since Dobson prayed for rain on the Democrats, the Republicans have received nothing but.

Ironically, RNC Host Committee CEO Ken Jones said that he’s not worried, and that if a storm arrives during the RNC, the responsibility to get everyone out safely will fall to the Federal Emergency Management Agency (FEMA). Does someone need to remind him that government is not the solution?

UPDATE:

© Jerry Holbert

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Late Night Political Humor

“Mitt Romney said he will not release any more tax returns. He said that he guarantees that he paid at least 13 percent every year. 13 percent? That’s not a tax, that’s a tip. In fact, it’s even a crappy tip.” – Jay Leno

“In a new interview with Fortune magazine, Mitt Romney says he wants to cut funding for PBS. When he heard that, Oscar the Grouch was like, ‘Seriously? I already live in a garbage can — how much worse can my life get?'” – Jimmy Fallon

“Mitt Romney wants to cut funding for PBS. That explains why today “Sesame Street” was brought to you by the letters ‘O and “Bama.'” – Jimmy Fallon

“Mitt Romney and Paul Ryan are now campaigning separately. They didn’t want to, but Chick-Fil-A threatened to pull their campaign contributions. Getting too loose. Kind of a bromance.” – Jay Leno

“Paul Ryan looks like a guy who owns his own chain of nursing homes.” – David Letterman

“Paul Ryan likes to catch a catfish bare-handed. He’ll wade into a river and pull it out with his bare hands. Meanwhile, Chris Christie likes to reach into the tank at Red Lobster.” – David Letterman

“You all remember Donald Trump. He was the guy who thought President Obama was born in Kenya. Hey, I got a message for Donald Trump: ‘Kenya’ shut up?” – David Letterman

“President Obama met with Treasury Secretary Timothy Geithner in the Oval Office. They agreed on a new economic plan after losing last night’s big Powerball lottery.” – Jay Leno

“President Obama is still reminding people that he inherited this economy. Let me tell you something. If this economy doesn’t turn around soon, his inheritance could be cut off in November.” – Jay Leno

“Joe Biden has a new slogan — “Chains you can believe in’.” – Jay Leno

“Even though he made a number of gaffes this week, President Obama says he’s sticking with Joe Biden as his running mate, and Biden is thrilled. Of course he’s thrilled. Do you want to be looking for a job in this economy?” – Jay Leno

“When Facebook stock went on the market, it was priced at $38 a share. Now, a share is worth $18.99. Market analysts have said we’re not posting enough pictures of our cats on Facebook.” – Jimmy Kimmel

“Some investors are suing Facebook saying they were misled. Their CEO is a kid in a hoodie. That’s how much we have been misled.” – Jimmy Kimmel

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Ryan’s Recall

Does Paul Ryan have a memory problem?

For example, just before being named as Romney’s running mate, Ryan suddenly amended his financial disclosure statements to add an income producing trust that is worth between $1 and $5 million. Members of Congress are required to disclose major financial holdings, but Ryan claimed that leaving the trust off his disclosure was an “inadvertent omission”. I’d love to have so much money that I can forget about an asset that could be worth as much as $5 million, but Ryan’s net worth is around $4.5 million. Did he really forget about something that is likely to be his biggest asset? But I guess it is easy to forget about things you didn’t have to earn — almost all of Ryan’s money comes from his marriage and inheritances.

Or how about the case of Ryan repeatedly claiming that he never took any stimulus money for his district. But the Boston Globe discovered multiple letters from Ryan requesting stimulus money (which were awarded). After being confronted with the letters, he still claimed he would never do such a thing. But just a few hours later he confessed. His excuse? He claims that the requests were sent by his office, not by him. Personally, I don’t know which would be worse — repeatedly lying about requesting stimulus funds, or having no idea what his office is doing. Indeed, why didn’t his office didn’t inform him of the problem when the issue first came up in 2010? Is this Ryan’s Bridge to Nowhere?

Incidentally, Ryan also repeatedly said he wouldn’t take stimulus money because the stimulus didn’t work. And yet, most studies show that the stimulus did help the economy. So he’s even lying about that.

An even bigger issue to me is that Ryan likes to pretend to be a fiscal conservative, but when the Republicans were in power, he spent like a drunken sailor. Ryan voted for the $700 billion bank bailout, the auto industry rescue, the unfunded Medicare expansion that drove up the deficit by $400 billion, and the highway bill that included the “Bridge to Nowhere”. Naturally, he also voted for the Bush tax cuts. He even campaigned on eliminating subsidies to oil companies, before voting to support them.

Now that he is running for vice president, will his memory get any better? I doubt it. Just last week, Ryan accused Obama of failing to rescue an auto factory in his home district in Wisconsin. So not only is Ryan not acting like much of a fiscal conservative, there is a bigger problem. The plant closed in 2008, under George W. Bush.

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Unlikely Voters

Our old friend and master of statistics Nate Silver has an interesting column that points out an interesting fact. Most polls try to survey only likely voters, since only people who vote determine elections.

But a recent survey did the opposite, surveying people who were either not registered to vote, or who said they were not likely to vote. The results were — to say the least — interesting:

Among these adults, 43 percent said they preferred Mr. Obama, while 17 percent backed Mr. Romney. Since quite a few Americans fit into this category – about 4 in 10 adults will not vote in November – it is easy to see how Mr. Obama could have a double-digit lead when they are added back into the total …. But those adults will not help Mr. Obama any if they do not show up on Nov. 6.

So the excuse that some people have that their vote doesn’t matter isn’t true. It only doesn’t matter because they don’t vote.

Another excuse that people give for not voting is that they don’t like either of the candidates from the two major political parties. In the survey “about 20 percent of unlikely voters said they would prefer to vote for a third-party candidate for president – much larger than in polls of likely voters.”

Fledgling political parties like the Libertarians and the Greens thus face something of a Catch-22. Many adults who might otherwise be inclined to support them do not bother to vote, possibly because they do not regard the parties as viable and think voting would be a waste of time. But without doing a little better at the ballot booth, it is hard for these minor parties to demonstrate their viability and gain any momentum.

So by not voting for third parties, non-voters are virtually guaranteeing that those parties will never gain any traction. Ironically, it is a self-fulfilling prophesy.

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Late Night Political Humor

“Republicans like Paul Ryan because they say he’s a fiscal conservative, and that’s a perfect balance for Romney who’s a guy that has an elevator for his Cadillacs.” – David Letterman

“Thank you for coming out on a hot day. The heat has not let up here. It was 109 today in Los Angeles. I was sweating like a Medicare patient at a Romney-Ryan rally.” – Jay Leno

“It was so hot Joe Biden put his foot in his mouth just to cool it off.” – Jay Leno

“Biden has made too many mistakes for Obama and he’s fed up. So today President Obama called Mitt Romney and asked Mitt if he would fire Biden.” – David Letterman

“Mitt Romney has selected Paul Ryan as his running mate. They say this could be a big boost for the Republican ticket and I was thinking, ‘Well, Joe Biden could be a big boost for the Republican ticket, you know?'” – David Letterman

“President Obama visited a wind farm in Iowa. You know, just one wind farm with 50 turbines generates as much wind power as a single Joe Biden speech.” – Jay Leno

“The White House just revealed that it brews its own beer and President Obama drinks it when out campaigning. And even more of it when Joe Biden goes out campaigning.” – Jimmy Fallon

“Mitt Romney said he wants to cut funding for things like Amtrak and PBS, both of which are subsidized by the government. I don’t like the idea of cutting funds for PBS. Things are bad enough already. One of the Muppets is living in a garbage can.” – Jimmy Kimmel

“Porn star Jenna Jameson has come out for Mitt Romney. So this election could have a happy ending after all.” – Jay Leno

“Endorsed by Jenna Jameson; how is that possible? The Democrats are losing the porn star vote? Let me tell you, that would never have happened under Bill Clinton.” – Jay Leno

“Donald Trump says he has a big surprise in store for everybody at the Republican National Convention this year – a surprise he says people will love. So apparently he’s not going.” – Jay Leno

“A new Gallup poll shows that only 1 in 10 Americans approve of the job Congress is doing. A 10 percent approval rating is about the same approval rating that rabies has.” – Jimmy Kimmel

“According to a new poll, atheism is becoming more and more popular among Americans. God only knows why.” – Jay Leno

“The U.S. military is sending surveillance blimps to monitor the U.S. border with Mexico. It’s a great plan until everyone looks up and sees the blimps.” – Jimmy Fallon

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People in Glass Houses?


© Matt Wuerker

The inventors of Swift Boating are accusing Obama of running a negative campaign? Because they are pressuring Romney to release his tax returns?

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Miss-spoke

I have some sympathy for politicians who make verbal gaffes. After all, everybody says things they regret later.

So I’m curious about what people think of current Congressman and GOP Senate candidate Todd Akin, who was asked why he opposes abortion even in the case of rape. Akin claimed that “from what I understand from doctors, (pregnancy from rape) is really rare. If it’s a legitimate rape, the female body has ways to try to shut that whole thing down.”

Akin later claimed that he “misspoke”.

Really? I’m trying to give him the benefit of the doubt, but I’m having troubles. In the past, Akin praised an anti-abortion militia group that participated in invasions of abortion clinics. Akin also voted for an anti-marital-rape law, questioning whether women used accusations of rape as a legal weapon in a messy divorce.

But what really makes me shake my head is that Akin is a current member of the House Committee on Science, Space, and Technology. Really.

The other thing that is ironic in this case is that one reason Akin won the GOP nomination for the Senate is that Democrats, including his upcoming opponent Clair McCaskill, donated $1.5 million to his campaign, helping him win over more moderate candidates. Of course, McCaskill expressed outrage at Akin’s rape statement, but isn’t that a bit disingenuous given that she donated to his campaign? When does something stop being good strategy, and start being dirty politics?

UPDATE: According to the reliable electoral-vote.com:

Earlier this year, every House Republican and 16 Blue Dog Democrats voted for a bill that would have redefined rape in federal statutes to be “forcible rape.” If this bill had become law, then statutory rape, the rape of a drugged or mentally impaired woman, or any rape where the rapist did not use physical force would not be considered rape. The bill died in the Senate. When Akin said “legitimate rape” he undoubtedly meant “forcible rape” as defined by the House bill but forgot the exact terminology.

Congressman, and now vice presidential candidate Paul Ryan, was a co-sponsor of that bill.

But what’s really hypocritical about this is that the Republican Party platform is going to contain a call for a constitutional amendment forbidding all abortions, even in the case of incest or rape (including forcible, legitimate, or whatever). So why are they shocked at Akin’s statement?

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