Today, Americans celebrate the inauguration of our 45th president and 224 years of continuity of government – 224 year of bloodless constitutional transitions.
But not all Americans are happy.
According to Forbes, golfer Phil Mickelson may give up his career because he may have to pay higher taxes.
For starters, courtesy of President Obama’s re-election and the subsequent fiscal cliff negotiations, Mickelson will experience an increase in his top tax rate on ordinary income from 35% to 39.6%, and an increase in his top rate on long-term capital gains and qualified dividends from 15% to 20%. Clearly, when faced with tax hikes of that magnitude, it stops making economic sense for Mickelson to continue to swing a metal stick up to 70 times a day in exchange for the $48 million he earns on an annual basis.
Let’s repeat that last sentence:
Clearly, when faced with tax hikes of that magnitude, it stops making economic sense for Mickelson to continue to swing a metal stick up to 70 times a day in exchange for the $48 million he earns on an annual basis.
Either that is tongue-in-cheek or this is the most spoiled brat in sports.
I know I am very grateful that my enlightened government refuses to officially allow elderly and ill to be impoverished.
A factoid: where are the largest percentages of the Mr. Romney’s 47%? You already knew I’m sure. Remember also that those blue states are largely donor states, getting back less than a dollar for every dollar into the kitty and those red states are largely recipient states. Whoops, I meant ‘takers’.
So it makes perfect sense that they mostly voted for the guy who holds them in contempt. And says so.
Posted in 2012 Elections, economy, Government, Politics, poverty, taxes
Tagged 47%, donor states, income distribution, Mitt Romney, Politics, poverty, Red State - Blue State, Taxes
The Atlantic sheds some light on the subject (notice that the red states are Red States and the blue states are mostly Blue States). This is a pattern we see often on issues like teenage pregnancy, educational levels, income, health, obesity. It’s not Connecticut that isn’t educating its next generation.
This follows nicely on my Wednesday post about Romney’s frequent 360’s. Transparency about one’s financial civic practices are “expected of thee, but not of me”.
Republican Presidential nominee Mitt Romney has seen pressure mount from both Democrats and Republican pundits to release his tax returns. Romney says he is “simply not enthusiastic” about giving Democrats “hundreds or thousands of more pages to pick through, distort, and lie about.”
(Thousands of pages? Thousands? Really?)
But in 2002, during his run for Governor Romney attacked his opponent Shannon O’BrieThe Romney campaign accused O’Brien, who released her tax returns every year since 1998, of being disingenuous by releasing her but not her husband’s returns, a former lobbyist who had worked with Enron.
Romney spokesman and current top Romney aide Eric Fehnrstrom claimed O’Brien was attempting to hide possibly embarrassing finances from voters.
“Her hands aren’t clean. She can’t claim to be disclosing anything until she discloses the returns of her husband, the Enron lobbyist,” Fehnrstrom said. “Under Shannon O’Brien, the state Pension Board lost millions by buying Enron stock when it was collapsing — what is she hiding?”
Voyager at Jupiter
Voyager I, launched 35 years ago, is now approaching the edge of our Solar System and will soon head out toward the other star systems that make up our galaxy, what we have fondly called the Milky Way. And it’s still transmitting data and adding to our store of knowledge like nothing else ever launched. (I’d say that its success strengthens the case for unmanned missions.)
There’s a link-rich story, plus videos and graphics at Talking Point Memo today.
We should all be proud, but also a bit sad that this is what we used to do.
NASA’s JPL has a site that follows the progress of [both] Voyagers in real time. It’s here.
Sorry Ronnie, you don't make the cut
Good thing Ronald Reagan, a president nearly deified by the right, is not in office today . . . were he, and had he ever signed Grover Norquist’s ‘pledge‘, his 11 tax increases would have doomed him to Jimmy Carter territory. No statues or monuments would have been raised in his honor.
We need to fix this or it’ll ruin us.
WASHINGTON — The top 1 percent of earners more than doubled their share of the nation’s income over the last three decades, the Congressional Budget Office said Tuesday . . .
In this report, the budget office found that from 1979 to 2007, average inflation-adjusted after-tax income grew by 275 percent for the 1 percent of the population with the highest income. For others in the top 20 percent of the population, average real after-tax household income grew by 65 percent.
By contrast, the budget office said, for the poorest fifth of the population, average real after-tax household income rose 18 percent.
And for the three-fifths of people in the middle of the income scale, the growth in such household income was just under 40 percent.
Posted in broken government, Civics, corporate power, economy, Government, labor, Occupy Wall Street, Plutocrats, Politics, poverty, taxes, the future, the nation
Tagged broken government, economy, government, income distribution, oligarchy, poverty, Taxes