Charles Pierce: I was driving most of yesterday and, therefore, only got the news piecemeal of Willard Romney’s descent to previous unplumbed depths in a racist bathysphere of how own devising. I felt a little out of the loop until I was presented with the comforting familiarity of what a dipshit Mark Halperin is:
“After reading a lot of tweets, listening to some talk radio, and watching some cable TV, I can say that this Romney/birther moment is representative of the whole, horrible campaign cycle we are in. The level of vitriol and personal animus that exists on both sides over the flap is truly discouraging.”
Yet another TOD post that has been reblogged by Jueseppi B, despite requests that he make his own effort to support PBO rather than copying others simply to drive up his reblog’s traffic. He doesn’t take kindly to being challenged, as another woman found out: explicit. Genuine bloggers are welcome to use anything they ever see at TOD. Thanks
ABC: The private equity firm founded by Republican presidential candidate Mitt Romney made use of arcane techniques in several of its Cayman Islands-based funds to avoid U.S. taxes, according to a trove of Bain Capital’s private audit and finance records made public on the website Gawker today.
The audited financial statements of one of the Cayman Islands funds make note of the use of “blocker” entities, which are used to help retirement accounts and nonprofit entities avoid some taxes. Financial statements for another fund note that it “intends to conduct its operations so it will … not be subject to United States federal income or withholding tax …”
Those details emerge on the statements of two funds in which Romney still holds a sizeable investment, according to the financial disclosure statements he filed when he announced his bid for president.
First lady Michelle Obama greets Sikh temple secretary of the board of trustees Kulwant Singh Dhaliwal, left, and Oak Creek, Wis. Mayor Stephen Scaffidi, before talking to victims of the August 5th shooting in Oak Creek, Wis.
Republicans are frantically trying to get Representative Todd Akin to drop out of the United States Senate race in Missouri after his remark about abortion and rape, but not because it was offensive and ignorant. They’re afraid he might lose and cost them a chance at a Senate majority next year. He would surely be replaced by a Republican who sounds more reasonable but holds similarly extreme views on abortion, immigration, gay rights and the role of government because those are the kinds of candidates the party nominates these days in state after state.
Like many Republicans, including the vice presidential candidate, Paul Ryan, Mr. Akin opposes abortion even when a woman has been raped….
…. The principal difference between Mr. Akin and most other Republican candidates is that they would be more decorous in inventing reasons to stripping women of their abortion rights….
…. The Republicans pressuring Mr. Akin to leave the race didn’t seem to care when he said he doubted that Medicare was constitutional or warned that same-sex marriage would destroy civilization. If the party wanted to end these kinds of embarrassing moments, it could return to the days when it nominated mainstream candidates.
TPM: Politico has pulled Dave Catanese from the publication’s Todd Akin coverage over the reporter’s tweets about the embattled Missouri Republican Senate nominee. After Akin ignited a firestorm by claiming women who are victims of “legitimate rape” have biological defenses to prevent pregnancy, Catanese took to Twitter to defend the tea party candidate “for argument’s sake.”
First Cameraman: The first official White House videographer, Arun Chaudhary, chronicles his time capturing behind-the-scenes moments of the president and his administration in his book “First Cameraman: Documenting the Obama Presidency in Real Time.”
First Lady Michelle Obama and guests applaud as Big Time Rush performs during the Kids’ State Dinner in the East Room of the White House, Aug. 20, 2012. (Official White House Photo by Sonya N. Hebert)
Steve Benen: Just this morning, I noted that Mitt Romney publicly gave his word, on camera, that he would “go back and look” to let us know what tax rates he paid over the last decade. The good news is, Romney really did “go back and look,” and elaborated on the findings today.
The bad news is, his answer was horrible:
“…I did go back and look at my taxes and over the past 10 years I never paid less than 13 percent. I think the most recent year is 13.6 or something like that. So I paid taxes every single year. Harry Reid’s charge is totally false. I’m sure waiting for Harry to put up who it was that told him what he says they told him. I don’t believe it for a minute, by the way. But every year I’ve paid at least 13 percent and if you add in addition the amount that goes to charity, why the number gets well above 20 percent.”
Let’s walk through the top five reasons this answer is woefully unacceptable…..
David Simon: Can we stand back and pause a short minute to take in the spectacle of a man who wants to be President of The United States, who wants us to seriously regard him as a paragon of the American civic ideal, declaiming proudly and in public that he has paid his taxes at a third of the rate normally associated with gentlemen of his economic benefit.
Am I supposed to congratulate this man? Thank him for his good citizenship? Compliment him for being clever enough to arm himself with enough tax lawyers so that he could legally minimize his obligations?
Thirteen percent. The last time I paid taxes at that rate, I believe I might still have been in college. If not, it was my first couple years as a newspaper reporter. Since then, the paychecks have been just fine, thanks, and I don’t see any reason not to pay at the rate appropriate to my earnings, given that I’m writing the check to the same government that provided the economic environment that allowed for such incomes.
I can’t get over the absurdity of this moment, honestly: Hey, I never paid less than thirteen percent. I swear. And no, you can’t examine my tax returns in any more detail. But I promise you all, my fellow American citizens, I never once slipped to single digits. I’m just not that kind of guy.
Charles Pierce: The president is angry. The president is an angry man. The president is black. The president is an angry black man …. That is the four-point plan on “the economy” on which Willard Romney apparently intends to run for president for a while…..
“If you look at the ads that have been described and the divisiveness based on income, age, ethnicity and so-forth, it’s designed to bring a sense of enmity and jealousy and anger and this is not in my view what the American people want to see,” Romney said.
Ethnicity? And so forth…. If he blows that dog-whistle any louder, Seamus may return from that great roof-rack in the sky.
This should surprise absolutely nobody, because, if there’s one thing candidate Romney has demonstrated, it is that he really is quite a remarkable liar…. Asking a Republican presidential candidate to abandon race-baiting entirely is to ask for an awful lot of 13-second Republican stump speeches. Asking Willard Romney to do it is to assume that there is muck so foul that he will not immerse himself in it to be president….
…. There was nothing Romney wouldn’t do in business to make a buck. Why should we be surprised that he campaigns the same way? ….
…. Since you can count on Rafalca’s hooves the number of times in his life that Willard Romney has been in a fair fight, it’s no great shock to discover that, since he can’t fight hard, he’ll fight dirty, because winning is not something you earn. Winning is something you inherit…..
McClatchy: …. Paul Ryan will leave sizable footprints on the 2012 presidential race. His controversial plan to overhaul the federal budget has been the chief talking point of the campaign since Mitt Romney put him on the GOP ticket last weekend.
…. According to a report by the nonpartisan Congressional Budget Office, “[Medicaid] Cutbacks might involve reduced eligibility … coverage of fewer services, lower payments to providers, or increased cost-sharing by beneficiaries – all of which would reduce access to care.”
Those cuts and the Ryan plan’s calls to repeal the Affordable Care Act would add tens of millions of low-income Americans to the ranks of the uninsured. It also would raise taxpayers’ bill for emergency room indigent care and cause an increase in private insurance rates.
…. Ryan’s plans for Medicare have caused a stir … In order to slow spending in the national health plan for seniors, Ryan would replace Medicare’s guarantee of coverage for new beneficiaries in 2023 with a flat payment to seniors known as a “voucher” or “premium support” ….
Ryan’s planned tax cuts favor the affluent. Those who earn more than $1 million annually would see an average tax cut of $265,000 and a 12.5 percent increase in after-tax income … But at the lower end of the scale, people earning between $20,000 and $30,000 would get no tax cut …
…. All told, the Tax Policy Center said, Ryan’s tax plans would increase the deficit by $4.6 trillion over the next 10 years. His call to extend the Bush-era tax cuts for high-earning Americans would boost the deficit by an additional $5.4 trillion.
NYT Editorial: Three days after Paul Ryan became the presumptive Republican vice presidential candidate, he made a pilgrimage on Tuesday to the Las Vegas gambling palace of Sheldon Adelson, the casino tycoon who is spending more than any other donor to try to send Mr. Ryan and Mitt Romney to the White House. No reporters were allowed, perhaps because the campaign didn’t want them asking uncomfortable questions about the multiple federal investigations into the company behind Mr. Adelson’s wealth.
Those questions, though, aren’t going away, and neither are the ones about the judgment of Mr. Romney and Mr. Ryan in drawing ever closer to a man whose business background should lead them to back away — fast. By not repudiating Mr. Adelson’s vow to spend as much as $100 million on their behalf, the two candidates seem more eager to keep the “super PAC” dollars flowing than to preserve the integrity of their campaign.
The issues swirling about Mr. Adelson’s business practices are not new and can hardly come as a surprise to the Romney campaign…. A careful presidential campaign would put distance between itself and a businessman like Mr. Adelson … By allowing Mr. Adelson to have such an outsize role in their race, the candidates themselves are placing a very risky bet.
NYT: As Mitt Romney and Paul Ryan fanned out across the country this week, glad-handing voters and donors, a smaller but no less important gathering was taking place on Capitol Hill: Mr. Romney’s transition team met on Tuesday with more than a dozen loyalists from the private and public sectors in space borrowed from a law office.
Mr. Romney’s transition team …. offers a glimpse of what might be Mr. Romney’s approach to governing, functioning much like his old private equity firm, Bain Capital. The team is assessing the government and looking for ways to make it more efficient and streamlined…..