The Social Security payroll tax cut should be allowed to expire at the end of this year and lawmakers should turn instead to overhauling the entire federal tax code, House Minority Leader Nancy Pelosi said Friday.
The 2 percentage point reduction in the 6.2 percent payroll tax, first enacted last year, had been a major element of President Barack Obama's proposals to rejuvenate the economy. The effort to renew it for 2012 prompted a prolonged battle with Republicans last winter, especially in the House, and resulted in an eventual GOP surrender and a major victory for the president.
There has been little talk among Democrats about reviving the payroll tax cut yet again for next year, and Obama did not propose renewing it in his 2013 budget. Even so, few Democrats until now have said openly that the measure should be allowed to lapse.
Pelosi, D-Calif., declined to tell reporters whether she would continue as her party's leader next year should they fail to gain control of the House in November's elections. The one-time House speaker said that would be up to her fellow Democrats and her family as well "after all this time." Democrats need to gain 25 seats in the 435-member chamber to become the majority, which most analysts and many politicians consider unlikely.
Pelosi, 72, has been in the House since 1987 and has been the chamber's Democratic leader since 2003. She became the first female House speaker in history in 2007.
Pelosi also said she believes that "there isn't any way on the face of the Earth" that Republican presidential candidate Mitt Romney will be elected. Most national polls show Obama with a slight edge.
Saturday, September 22, 2012
In a clear sign of where their heart lies, the Big Three TV networks, by a whopping 13 to 1 margin, devoted much more coverage to Mitt Romney's month's old "47 percent" secret video than to President Obama's 14-year-old but just discovered wealth "redistribution" audio.
Over the three days this week that they hit the media, network morning shows and evening news devoted one hour, 28 minutes, 23 seconds to the Romney tape over 42 stories and just six minutes, 28 seconds over eight stories to the Obama clip.
And even if the timeline is shortened to the Tuesday night release of the Obama audio, the ratio is 10-1, according to an analysis provided to Secrets from conservative media watchdog Media Research Center.
And their analysis doesn't include Thursday night's NBC Saturday Night Live Weekend Update hit on the 47 percent tape or print coverage of the comments that NBC News anchor Brian Williams suggested was a "game changer" in the election still stuck at 47 percent to 47 percent according to Gallup.
"The double-standard within just one week of the news cycle is staggering. A surreptitiously taken video of Mitt Romney published by leftist magazine Mother Jones outpaced coverage of an Obama tape at a public event by a 10 to 1 ratio. It has to be asked if the scenarios were reversed and it was a hidden camera video of Obama published by the conservative National Review would the liberal media have reacted as excitedly?" asked MRC.
MRC collected some of the media's characterization of the Romney video that suggested it would doom his campaign:
"The media's furor over the Romney tape began on Monday night, September 17, when NBC Nightly News anchor Brian Williams teased viewers about Romney comments that he promised will 'raise eyebrows when heard.' By Tuesday morning the Big Three journalists were in full attack mode against Romney. ABC's Amy Robach, on Good Morning America, exclaimed: 'New bombshell rocking the Mitt Romney campaign.' ABC's George Stephanopoulos wondered where Romney's comments would 'register on the Richter Scale?' Later that evening, on ABC's World News, anchor Diane Sawyer joined her colleague in the tectonic imagery as she told viewers of the 'political earthquake that occurred on a seismic day' for the campaign."
In the end Pelosi will be the big loser and so will the party
Nancy Pelosi told reporters Friday that she has a 60 percent chance of retaking the speaker’s gavel from John Boehner come January due to Republican plans to restructure Medicare for those 55 and younger.
“The momentum is coming our way,” Politico quoted Pelosi as saying.
Yet Pelosi’s rhetoric fails to square with polling data suggesting Democrats may pick up four seats and fall far short of the 25 seats Democrats need to reclaim the majority.
“[O]verall conclusions are pretty similar — modest Democratic gains, but continued Republican control,” Kyle Klondik, House editor for Larry Sabato’s “Crystal Ball” writes.
Other political pundits see similar wishful thinking in Pelosi’s comment.
“With the economy soft and 25 seats needed to retake the chamber, Democrats face considerable odds,” theBoston Globe reported Thursday . “Even as polls show public approval of Congress sinking to an all-time low, the vast majority of incumbents will win easy reelection.”
Pelosi also repeated her contention that Romney will go down in flames against President Obama.
“I don’t think there’s any way on the face of the earth that Mitt Romney wins the presidential,” Pelosi said.
When most people think about taxes, the first thing that comes to mind are federal and state taxes. Some will remember sales taxes, Social Security taxes, and Medicare taxes.
What unites all of these taxes are that they are burdens placed by government on the citizens of America. When we talk about the full tax burden Americans endure, it behooves us to count all of the ways in which the government forces us to spend our money.
To understand the full tax burden of Americans, we need to look at all the government does that directly financially impacts each American. For example, since 9/11, every time you fly, you have to allocate an extra hour or more to deal with security. That hour you lose is a burden imposed by the government that does not show up on your regular tax bill, but since time is money, that hour does impact your life.
Any sort of government imposed non-tax financial burden can be called a quasi-tax in that it takes money out of the pockets of Americans, but it is not levied in the manner normal taxes are, and the money does not necessarily go directly to the government.
These quasi-taxes can have a huge impact on both the economy and the financial well-being of every American. Additionally they can be extremely regressive and disproportionately target those Americans with the least money.
Obama has imposed a number of highly regressive quasi-taxes on Americans since he assumed office in 2009.
The price of gas has doubled under Obama. While that entire price change is not Obama's fault, his support for dramatic reductions in new drilling permits on federal lands and his inept foreign policy in the Middle East have contributed to reducing the oil supply and hence increasing the price of gasoline.
Via: American Thinker
Los Angeles Mayor Antonio Villaraigosa, who also ran the Democratic National Convention, has now embroiled himself in a scandal of epic proportions with taxpayer dollars. Villaraigosa and staff negotiated a deal with Anschutz Entertainment Group (AEG) to build a football stadium in downtown Los Angeles. The price tag for the taxpayers: almost $400 million in debt, supposedly to be repaid by AEG. The stadium will be built on land currently occupied by the Los Angeles Convention Center. Los Angeles, as you may recall, doesn’t have a football team.
An alarming data point from the minority side of the Senate Budget Committee: More Americans are being added to food stamps than are finding jobs. The data is detailed in this chart, provided by the committee:
As the chart shows, between April-June 2012 (the most recent three month block for which government data is available), only 200,000 jobs have been created while 265,000 individuals have been added to the food stamp rolls. Additionally, in that time period, 246,000 workers were awarded disability.
Another chart shows that the last three month block is part of a larger trend. The chart, also from the minority side of the Senate Budget Committee, shows that "Workforce Shrinks Since January 2009 While Millions Sign Up For Disability And Food Stamps."
As the chart shows, since January 2009, when President Barack Obama took office, the net change jobs has been negative (-1.3 million), while 5.7 million workers and dependents have been awarded disability and a whopping 15.1 million have been added to the food stamp rolls.
"A total of 46,670,373 Americans are now on food stamps," according to the minority side of the Senate Budget Committee. "The food stamp program has doubled in size since 2008 and quadrupled since 2001."
And the government program isn't cheap: "Spending on food stamps alone is projected to reach $770 billion over the next decade."
Friday, September 21, 2012
Today, Politico interviewed the two of the chief creators, along with Andrew Breitbart, of Occupy Unmasked, the new documentary examining the origins, motives, and effects of Occupy Wall Street. Citizens United President David Bossie and writer and director Stephen K. Bannon sat down with Politico’s Patrick Gavin, who rightly called Occupy Unmasked Andrew Breitbart’s “last major piece of work.”
Dem Rep. Sheila Jackson Lee Says She Would Break The Law To Vote Against GOP Bill To Stop Obama From Gutting Welfare Work Requirements…
On Thursday, Texas Democratic Rep. Sheila Jackson Lee was so worked up about Republican legislation to stop the Obama administration’s welfare work requirement waivers that she exited an anti-bullying event early, joking that she would be breaking traffic laws to cast her vote in opposition.
“Please forgive me if I run out for a vote and a debate. I am going to run back. We’ll probably break all traffic rules, but I want you to be engaged. And I don’t want anybody hear about what traffic rule I’ve broken, but I want all of you to be engaged,” she urged the gathering of anti-bullying advocates and school children.
Lee left quickly in the middle of the event she headlined — “Bullying – Sticks & Stones: Changing the Face of the 21st Century” — to oppose to the Republican measure.
“My friends are now on the Hill. I’m going to have to run back, because the waiver that was given to give people flexibility on TANF [Temporary Assistance for Needy Families ] is now — that’s what we call giving flexibility in the national, making a statement of cooperation and working with government, state governments, meaning flexibility in the welfare concept, which I am so glad [the Obama administration] did,” she told the gathering. “So now my friends on the other side of the aisle, representing the 53 versus 47 percent — a little humor here, I’m going to get to the point, but in any event — they are trying to repeal the flexibility that our government so rightly so has given and sitting us in hearings saying that we over regulate.”
Despite a reputation for bullying her own staff, Lee has been championing anti-bullying legislation and pushing for more efforts to end bullying.
“Bullying prevention and intervention is not only about caring for our young people, it is about caring for our future, so bullying brings about bully-cide, suicide, cyber-bullying, and it does not end with our children on the playground,” she said. “It exists on college campuses, workplaces, online and even elderly care facilities.”
The Daily Caller revealed last year that in conjunction with her hot temper with staff, she has a reputation for ignoring traffic laws, with former drivers saying she would demand they run red lights and take highway shoulders to expedite travel times — something that has resulted in at least one accident.
(CNSNews.com) – Rep. Allen West (R-Fla.) introduced a coalition of black pro-life advocates on Capitol Hill on Friday by saying that abortion threatens the future of the black Americans.
The Romney campaign is releasing Mitt and Ann Romney's 2011 tax return today. The campaign previews a few of the highlights here:
- In 2011, the Romneys paid $1,935,708 in taxes on $13,696,951 in mostly investment income.
- The Romneys’ effective tax rate for 2011 was 14.1%.
- The Romneys donated $4,020,772 to charity in 2011, amounting to nearly 30% of their income.
- The Romneys claimed a deduction for $2.25 million of those charitable contributions.
- The Romneys’ generous charitable donations in 2011 would have significantly reduced their tax obligation for the year. The Romneys thus limited their deduction of charitable contributions to conform to the Governor's statement in August, based upon the January estimate of income, that he paid at least 13% in income taxes in each of the last 10 years.
Additionally, the Romney campaign is releasing a summary of 20 years of taxes, between 1990-2009, detailing their tax expenditures during those years:
- In each year during the entire 20-year period, the Romneys owed both state and federal income taxes.
- Over the entire 20-year period, the average annual effective federal tax rate was 20.20%.
- Over the entire 20-year period, the lowest annual effective federal personal tax rate was 13.66%.
- Over the entire 20-year period, the Romneys gave to charity an average of 13.45% of their adjusted gross income.
- Over the entire 20-year period, the total federal and state taxes owed plus the total charitable donations deducted represented 38.49% of total AGI.
UPDATE: Here's Mitt and Ann Romney's 2011 tax return:
Should Sen. Democratic leader Harry Reid follow in the footsteps of GOP presidential nominee Mitt Romney by releasing his 2011 tax return?
Dave Buell, chairman of the Washoe Country Republican party in Mr. Reid's political backyard of Nevada, certainly thinks so.
"Senator, make our day and release your 2011 tax return," he said in an email blast Friday evening.
Citing an anonymous source, Mr. Reid has repeatedly claimed in recent weeks that Mr. Romney "didn't pay taxes for 10 years."
Mr. Romney countered that over the past ten years he never paid less than 13 percent of his taxable income and that "Harry Reid's charge is totally false."
Shortly after Mr. Romney released the additional tax information, Mr. Buell blasted out the email calling for Mr. Reid to come clean and release hits tax records "so that all Nevadans can see that he is paying his fair share." He added, "In addition, Mr. Reid should explain to all of us how he became a millionaire on a bureaucrat's salary. Mitt Romney earned his money by investing in companies, people and creating jobs in the private sector while Harry Reid made his money by taking money from the private sector and redistributing it through government."
Mr. Buell also pointed out that Nevada has had the highest unemployment rate in the country.
Barnes insisted that Obama believes that “Change comes
“The President is reflecting the tough battles that he’s been through with health care and other issues,” Barnes said insisting that the reason that the ‘Don’t Ask Don’t Tell’ repeal and the Affordable Health Care Act passed because of “the will of the American people.”
Change outside of Washington, Barnes noted “is that coalition of the American President linking arms with the will and the desire and the aspiration, the optimism of the American People to get things done that will actually break through and make that change,” she explained.
Most Americans are asking, “Can the United States of America REALLY afford FOUR MORE YEARS of President Obama?
List Of Failed Green Energy Jobs & Companies – By Obama
Update: 7/19/12: The Amonix Solar: FAIL! – manufacturing plant in North Las Vegas, subsidized by more than $20 million in federal tax credits and grants given by Obama Administration, has closed its 214,000 square foot facility a year after it opened.
Via: Divided States
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