watch it. LOL (http://www.rawstory.com/rs/2012/09/25/jon-stewart-on-mitt-romneys-hypocrisy-he-appears-to-be-getting-dumber/)
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"><span style='font-size: 14pt'>Jon Stewart on Mitt Romney’s hypocrisy: He appears to be getting dumber</span>
On his show Tuesday night, Daily Show host Jon Stewart said President Barack Obama was <u>the luckiest man on the planet</u> because he was running against Mitt Romney. The political comedian chronicled the latest contradictory and hypocritical statements of the Republican presidential nominee, claiming that “the closer we get to the election, the dumber Mitt Romney appears to be getting.”
Watch video, via Mediaite, below:
Mittens is due for a meltdown. He has held so many positions on the same subjects that he doesn't know what to say any more. Just wait for the debates when all his lies are presented before him.
This is a guy who won't release his tax returns and says the people should trust him , but every time he opens his mouth, he lies!
If Mittens was facing a white Dem POTUS with the same record, he would be unelectable.
Gayle in MD
09-26-2012, 10:50 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Romney's advisers used an odd method to calculate how much he paid over the past two decades. As the Washington Post's Greg Sargent reported, Romney's advisers averaged his tax rates over 20 years to get a number for his tax burden over that period. But it would have been more accurate to take Romney's total tax paid over that period and divide it by his total earnings to get a new percentage. Sargent spoke to Roberton Williams, a senior fellow at the Tax Policy Center, about this problem:
"Let's say you have 10 years in which you paid 13 percent in taxes, and 10 years in which you paid 27 percent," Williams told me. "If you average those rates, you'll get an overall rate of 20 percent. But if the 13 percent years were high income years, and the 27 percent years were low income years, then his total taxes paid as a share of total income over the 20 years would be less, perhaps significantly less, than 20 percent."
Romney and other private equity managers get a tax break for earning investment income, but tax reform advocates think a lot of their "investment income" is really labor income. Romney has saved a lot of money over the years with the carried interest exception, a loophole that allows private equity managers—i.e., the people who run private equity funds, not the people who invest in them—to treat part of what they're paid in fees as investment income, even though they didn't necessarily invest the money. Often, this results in people like Romney paying a 15 percent tax rate on income that would otherwise be taxed at 35 percent. They "pretend their labor income is really investment income by calling it 'carried interest' and paying at a low rate," explains Slate's Matt Yglesias. (It's perfectly legal.)
Harry Reid probably owes Mitt Romney an apology. Back in July, Senate Majority Leader Harry Reid told the Huffington Post that a "Bain investor" confided to him that Romney "didn't pay any taxes for 10 years." Reid's allegations put Romney on the defensive for refusing to release more than two years of tax returns, but based on what we know now they're most likely false, Galle says. "If Harry Reid had said something like he paid 'like no taxes,' that might be accurate," Galle says. "It might be a quite small number potentially, but he didn’t pay nothing."
Romney's tax rate does not account for much of his wealth. "The income tax…doesn't tax you on changes of the value of your stuff from year to year unless you convert that stuff into cash," Galle explains. "If you never sell it then it doesn't become part of your income." A huge portion of the Romneys' fortune—as much as $100 million—is tied up in Mitt's individual retirement account (IRA), where it has grown tax-free for decades. That account is in the top .001 percent of all IRAs. Any increase in the value of Romney's IRA is not counted when his income is calculated. This is true for other Americans, too, but most Americans who have IRAs—only 48 million do—have relatively small amounts of money in them. The median IRA was worth $17,863 in 2010. So, for most Americans, the IRA tax exemption isn't the huge factor it is for Romney.
The bottom line: Most American workers don't have significant investment income; their income is almost all wages. Factoring in his massive nonwage gains, and Romney's "real tax rate is something like half of what he's reporting if you were to compare him to most workers," Galle says.
He's unelectable right now, IMO.
The polls today are showing a steady crash for Romney. Every day he drops more.
He's losing double digits in Ohio, Pennsylvania, and even very badly in Florida, in several of the latest polls out today. the president is even closing in on North Carolina!
Without Fla., Pennsylvania, and Ohio, Massachusettes, and Virginia, Romney has no path to win at all.
No Republican has even won the presidential election without winning Ohio, and Romney won't be the first. He has no shot at Ohio, at all, given how far he is behind, how late in the campaign it is right now, and how much early voting is already happening in many states.
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