Posts Tagged ‘buffett



27
Feb
12

evening all

First Lady Michelle Obama and Dr. Jill Biden talk outside the State Dining Room before addressing the National Governors Association annual meeting at the White House, Feb. 27, 2012. (Official White House Photo by Lawrence Jackson)

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Tuesday: PBO will deliver remarks at the United Auto Workers conference in Washington, DC.

Wednesday: PBO and the First Lady will host a dinner at the White House to honor Armed Forces, who served in Iraq, and their families.

Thursday: PBO will travel to Nashua, New Hampshire, and deliver remarks on the economy. In the evening, the President will attend campaign events in New York City.

Friday: PBO will travel to the Walter Reed National Military Medical Center in Bethesda, Maryland, to visit with wounded service members.

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Toronto Star: When Mitt Romney regaled a Michigan audience this week with childhood memories of a landmark moment in Detroit history, it was a rare instance of emotional candour.

And, perhaps, an even rarer example of time travel.

Romney recalled he was “probably 4 or something like that” the day of the Golden Jubilee, when three-quarters of a million people gathered to celebrate the 50th anniversary of the American automobile.

“My dad had a job being the grandmaster. They painted Woodward Ave. with gold paint,” Romney told a rapt Tea Party audience in the village of Milford Thursday night, reliving a moment of American industrial glory.

The Golden Jubilee described so vividly by Romney …. took place June 1, 2025 - fully nine months before Romney was born…..

More here

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Slate: …. In January, workers in the manufacturing sector worked an average of 41.9 hours per week. That same figure was reached for a few months during the winter of 1997-1998, but the last time it was actually higher than that was July of 1945 when America’s factories were working overtime to fight and win World War II….

We’re at the point, in other words, where just to sustain current levels of output American factories are going to need to start adding workers.

More here

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Change You Can Believe In:

Yahoo: Five months after the military’s ban on openly gay service expired, a photo of a young gay Marine’s homecoming kiss has gone viral. Nearly 15,000 people have liked the picture on Facebook, which was posted in a group for gay Marines on Saturday.

The Marine, Brandon Morgan, posted a response on his Facebook wall according to the JoeMyGod blog. “To everyone who has responded in a positive way. My partner and I want to say thank you. Dalan, the giant in the photo, can’t believe how many shares and likes we have gotten on this. We didn’t do this to get famous,or something like that we did this cause after 3 deployments and four years knowing each other, we finally told each other how we felt,” Morgan wrote.

More here

Thanks Bob and Lisa

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ThinkProgress: An article in The Hill today describing the results of a new poll inaccurately reports that voters want “a lower tax bill” for wealthy individuals and businesses. If anything, the poll shows the opposite.

In tax policy, it’s critical to distinguish between marginal tax rates and effective tax rates … The Hill article fails to sort out this very basic distinction, then proceeds to make a number of apples-to-oranges comparisons that paint a misleading picture of what wealthy people and corporations are paying in taxes now and what people want them to pay.

….. Having repeatedly confused marginal and effective rates, the article misinterprets the poll results to conclude that people want “a lower tax bill” for individuals and corporations….

….Here’s a better explanation: Voters understand what The Hill does not - that wealthy people and corporations actually pay taxes at much lower rates than the top marginal rates on the books. And when asked what they think the “most appropriate” rates should be, a majority of people cite rates that are higher than what the wealthy and corporations are actually paying now.

More here

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Washington Post (Editorial): At a time of record debts and deficits, the two leading Republican presidential candidates are proposing a path on taxes and spending likely to add trillions more. That’s the sobering conclusion of the nonpartisan Committee for a Responsible Federal Budget (CRFB), whose board includes six Republican former lawmakers with expertise in budget issues, three Republican former heads of the Congressional Budget Office, and two former Office of Management and Budget directors under Republican presidents.

Full article here

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NY Mag: Of the various expressions of right-wing hysteria that have flowered over the past three years - goldbuggery, birtherism, death panels at home and imaginary apology tours by President Obama abroad - perhaps the strain that has taken deepest root within mainstream Republican circles is the terror that the achievements of the Obama administration may be irreversible, and that the time remaining to stop permanent nightfall is dwindling away.

… The GOP has reason to be scared. Obama’s election was the vindication of a prediction made several years before…. that demographic and political trends were converging in such a way as to form a ­natural-majority coalition for Democrats.

… if they lose their bid to unseat Obama, they will have mortgaged their future for nothing at all. And over the last several months, it has appeared increasingly likely that the party’s great all-or-nothing bet may land, ultimately, on nothing. In which case, the Republicans will have turned an unfavorable outlook into a truly bleak one in a fit of panic. The deepest effect of Obama’s election upon the Republicans’ psyche has been to make them truly fear, for the first time since before Ronald Reagan, that the future is against them.

Full article here

Thanks Loriah

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The Week

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Anti-Romney Robocall From “Democrats For Santorum”:

:roll:

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Yikes, I can’t remember who posted this today - whoever you are, thank you!

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Nick Anderson

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Thanks Symmetry!!!

25
Jan
12

‘night everyone

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ABC: …“I don’t pay hardly any payroll taxes,” Buffett said. “Gov. Romney hardly pays any payroll taxes, Newt Gingrich hardly pays any payroll taxes. Debbie pays lots of payroll taxes.”

He lashed out at assertions from many Republican leaders that the “Buffett rule” is class warfare.

“If this is a war, my side has the nuclear bomb,” Buffett said. “We have K Street. … We have Wall Street. Debbie doesn’t have anybody. I want a government that is responsive to the people who got the short straw in life.”

Full post here

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Thursday:

11:00: VP Biden delivers remarks in Rochester, N.H.

1:00: PBO delivers remarks at UPS Las Vegas South.

3:05: PBO departs Las Vegas en route to Buckley Air Force Base, Colo.

4:35: PBO arrives at Buckley Air Force Base, Colo.

5:30: PBO delivers remarks.

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President Obama is greeted by Las Vegas Mayor Carolyn Goodman upon his arrival at Las Vegas Airport, Nevada, January 25

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The Week

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You can never see this enough ;-) (From the Digitocalypse YouTube channel)

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‘Night everyone, see you tomorow ;-)

04
Oct
11

‘class warfare’ turns out to be pretty popular

Steve Benen: The latest CBS News poll asked national respondents whether they’d support higher taxes on millionaires to lower the deficit. The results weren’t exactly close:

….it appears “class warfare” is pretty popular with the American mainstream … Why are Democrats, from President Obama on down, so unafraid of this issue? Because they’ve seen polls like this one, and know most Americans agree with them.

Full post here

Warren Buffett (2006): “There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.”

03
Oct
11

taxing issues

ThinkProgress

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Michael Scherer (Time): When Barack Obama talks about taxes these days, he likes to talk about Omaha billionaire Warren Buffett’s secretary …. but if Mitt Romney is able to clinch the Republican nomination for President next spring, Obama will have a better example to talk about.

That’s because Romney, a wealthy man whose income mostly comes from long-term investments, is exactly the sort of “millionaire and billionaire” that Obama likes to hold up for scrutiny, since the source of Romney’s income allows him to pay a lower percentage of his money to the federal government each year than many middle-class wage earners.

…. People who earn as much money as Romney typically make most of it in capital gains and often deduct more than they earn in royalties, salary and interest. In other words, they never pay the 35% rate that their income would be subject to if they just got a paycheck like most Americans.

…. Should Romney win the Republican nomination, he will face substantial pressure to release his own tax returns. Usually such disclosures are little more than formality, but in Romney’s case, it would land him in the middle of one of the biggest policy debates of this election season.

…. any tax reform plan put forward by Obama would likely have a significant impact on Romney’s returns. And perhaps more importantly, if Romney wins the nomination, Obama will have a great line to use in debates and on the stump. He wouldn’t just be running against Romney, he’d be running against the large tax advantage that a millionaire investor’s income provides.

Full article here

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Greg Sargent (Wasington Post): Fact check of the day: CNN takes apart the ubiquitous GOP claim that tax hikes on the rich would be damaging to small businesses and the nation’s “job creators”:

In sharp contrast to the rhetoric, current data suggests small businesses don’t create an outsized number of jobs, very few small business owners fall into the top two tax brackets, and tax cuts for small businesses are ineffective stimulus measures.

Relatively few small businesses would be affected: Extending the tax cuts for top earners for another decade would come at a significant cost - nearly $1 trillion in added debt over a decade. But small businesses wouldn’t see much of that cash. Only 2.5% to 3.5% of small businesses would be affected by an increase in those two rates.

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26
Sep
11

it’s class warfare!

People Press: As the nation prepares for another round of deficit reduction debates, the public’s confidence in congressional leaders, particularly Republican leaders in Congress, has plummeted. Just 35% say they have a great deal or fair amount of confidence in Republican leaders in Congress to do the right thing when it comes to dealing with the federal budget deficit, down from 47% in May. Fully 62% say they have little or no confidence in the Republican leaders on this issue.

Public confidence in Barack Obama on the budget deficit, by comparison, has remained largely unchanged. The latest national survey by the Pew Research Center finds that 52% express at least a fair amount of confidence in Obama to do the right thing when it comes to dealing with the deficit, virtually unchanged from 55% earlier in the year.

The drop in confidence in GOP congressional leaders is broad based, even occurring among Republicans themselves …… Democrats offer a more positive assessment of their leaders’ handling of the deficit than Republicans do of theirs. Fully 84% of Democrats have at least a fair amount of confidence in Obama to do the right thing regarding the deficit, and 75% are confident in Democratic leaders in Congress….

…. The survey also finds continued public support for raising the tax rate on high incomes as a way to reduce the federal budget deficit and the size of the national debt. Two-thirds (67%) approve of raising the tax rate on incomes over $250,000 as a means of reducing the national debt … Just 30% disapprove…

Full article here

21
Sep
11

‘absolutely, totally true’

Paul Krugman: Well, it seems as if a number of people in the media have decided that (President) Obama was fibbing when he said that some millionaires pay lower tax rates than their secretaries - because, as the usual suspects triumphantly declare, on average millionaires pay higher average taxes than middle-income Americans.

This is, of course, stupid: the operative word is SOME.

And we’re not talking about one or two exceptional guys, either … If you look at the numbers since 2004, you’ll see that in a typical year between 30 and 40 percent of those super-high-income players paid an average tax rate of less than 15 percent; most of them paid less than 20 percent.

…. what becomes clear is that the Obama/Buffet claim is absolutely, totally true.

So why the attack? Probably because it’s such an effective line. And we can’t have populism that actually strikes a chord with the public, can we?

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Buffett Rule Facts and Fictions

20
Sep
11

impartiality

Aw bless, our old buddy Mark Knoller - who’s not even trying any more to be impartial - is not happy with the President’s shocking proposal that the rich pay the same tax rate as the middle class.

He’s tired of hearing about Warren Buffett and his secretary, so he has a solution: in this Twitter exchange with a right-winger, he suggests Buffett pay his secretary in stock, thereby reducing her tax - and then they’ll both shut up.

Yep, that will sure solve the tax inequality issue for the whole of America.

It’s funny, CNN fired Chez Pazienza in 2008 for having a personal blog and contributing opinion pieces to The Huffington Post.

Meanwhile, Knoller regularly expresses his Teabagger-esque views on tax on Twitter, but that’s okay for the CBS White House Correspondent whose job it is to report impartially on the administration?

You know, impartial reports like this:

MediaMatters (August 2011): CBS News White House correspondent Mark Knoller whitewashed former President Bush’s role in creating $1.2 trillion in deficit for the 2009 fiscal year, instead blaming President Obama for every penny of debt increase since “the day Mr. Obama took office.” But the Congressional Budget Office had already projected $1.2 trillion in deficit before Obama took office, based entirely on Bush’s actions and economic conditions.

More here

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Greg Sargent: Beltway head-in-sand-moment of the day: David Brooks is very, very upset with Obama for aggressively articulating his tax-the-rich vision, and signaling he won’t budge from it, in the face of Republicans who are aggressively articulating their no-tax-hikes-at-all-costs vision and signaling they won’t budge from it. That’s silly enough on its own. But then Brooks gives us this:

“He repeated the populist cries that fire up liberals but are designed to enrage moderates and conservatives.

Brooks must have missed all those polls that show solid public support for tax hikes on the wealthy, particularly the ones that show solid support for high end tax hikes among independents.

19
Sep
11

“i’m warren buffett’s secretary”




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