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Month: September 2012

Romney’s greatest foreign policy coup

Romney’s greatest foreign policy coup

by digby


So there are a substantial number of voters in both Ohio and North Carolina who believe that Mitt Romney is responsible for killing Osama bin Laden. Seriously.

In Ohio:

38% of Ohio Republicans say Barack Obama is most responsible for the bin Laden’s death, 15% say Romney, and 47% were unsure.

In North Carolina:

29% of Republicans said Obama deserves more credit, versus 15% Romney and 56% unsure.

I think Comedy Central gets this one about right:

There’s not much in Romney’s foreign policy that can be credited for bin Laden’s demise, but maybe his anti-porn stance is what drove the al Queda mastermind into the path of a Navy SEAL’s bullet. A connoisseur of smut, what else could bin Laden do when confronted with Romney’s plan to take away his Internet access to Weapons of Ass Destruction IV?

It’s also possible that these majorities of Republican voters who refuse to credit Obama with the Bin Laden’s killing aren’t really answering the question that’s being put to them, just as many Republicans translate questions about Obama’s faith into questions about how much they hate the president. For many voters, telling a pollster that President Obama is a Muslim who doesn’t deserve credit for the country’s most visible recent military achievement is just another way of saying that Obama sucks.

But that can’t be every voter. Somewhere in Ohio or North Carolina, there’s a guy who thinks SEAL Team Six arrived in Pakistan’s on Romney’s charter plane and shot bin Laden using equipment financed by Romney’s off-shore accounts. And that guy’s vote counts just as much as yours.

Scary, isn’t it?

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Campaign of the people

Campaign of the people

by digby

photo by Charles D Harapak, via instagram

That’s the very best way to send a message to the press about your appeal to those white working class males in Ohio…

h/t to @BagNews

Win an Eric Clapton BB King platinum award plaque and help great NC Progressive Patsy Keever #BlueAmerica

Win an Eric Clapton BB King platinum award plaque

by digby

… by helping Patsy Keever win her seat in North Carolina. Howie writes it all up here:

When I was a teenager I worked at the Cafe Au Go Go in Greenwich Village for a stint. It’s where I first met many artists I later became involved with, from Jimi Hendrix, Joni Mitchell, the Grateful Dead to the Jefferson Airplane and The Animals. In 1967 I saw Eric Clapton, then 22 and a member of Cream, perform with American blues great, B.B. King. More than 30 years later I was the president of Reprise Records when Eric, one of our biggest-selling and most respected artists, told me he had gone into the studio with B.B., who he idolizes, and they had recorded several songs. This turned into a collaborative album, Riding With The King, which hit #1 on the Billboard blues chart, #3 on the Billboard album chart, sold over 2 million copies and won a Grammy Award. The RIAA certified the album “double platinum” in 2000 and the custom award plaque is one of the most aesthetically beautiful RIAA awards ever made. Only a small handful were given out and, of course, it was never sold or made available to the public. Eric and B. B. gave me one. I want to use it to help raise some money for one of the most deserving progressives running anywhere in America, Rep. Patsy Keever, an intrepid Democrat taking on Wall Street shill Patrick McHenry– much the same way we used the Green Day signed guitar to raise $37,000 for Alan Grayson’s campaign a few weeks ago.

Another fighter for working families from North Carolina, Congressman Brad Miller, is supporting Patsy’s run. He told us that “The contrast between Patsy and Patrick McHenry couldn’t be greater. Patsy is a respected community leader, not a self-promoting political operative. Patsy has strong progressive instincts grounded in her understanding of what people’s lives are really like.” Patsy’s record as a representative of the North Carolina legislature showed she is a staunch believer in helping working families, standing up for civil rights and including everyone who wants to pitch in and work hard in the American dream.

I never talked with either Eric or B. B. about politics and don’t know where they stand on the issues… but they did cover Charlie “Hoss” Singleton’s classic “Help the Poor” on Riding With The King– and they’re both very decent, generous human beings so… I’ll just jump to the logical conclusion. To get a chance to wind up with this plaque on your wall, just contribute to Patsy’s campaign– any amount– at this ActBlue page. We’ll randomly select one person to thank by sending him or her the plaque.

Click over to Down with Tyranny for the full story.

And if you’re of a mind to help a great progressive fighter win a winnable seat and possibly win a Clapton-King collectable for yourself, just go here.

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The GOP “I told you so”

The GOP “I told you so”

by digby

Mark Halperin chronicles the many woes of the Romney campaign in the wake of their epic Meh Convention. It’s not pretty. If this is the conventional wisdom, they’ve got to be getting pretty desperate.

But Halperin shares a little inside knowledge from earlier in the campaign that’s rather interesting:

Romney still has the debates, millions and millions in TV ads, and weeks of campaigning to try to turn things around. But he faces the immediate threat of quiet and loud we-told-you-so’s from Republicans who last year had the very worries they fear are being manifested now. Romney is an awkward, unlikable candidate. The author of RomneyCare is ill positioned to attack ObamaCare. And Romney’s shifting positions make him an easy mark for an aggressive White House.

And that’s not even counting the fact that he’s a massively wealthy vulture capitalist who refuses to even release his tax returns at a time of economic suffering among the people he wants to vote for him. He is the Marie Antoinette of American politics. Almost anyone would have been better at a time like this. (Except Palin …)

I’ve never believed that Obama would be beaten in this election. It seems counter-intuitive, I know. The economy sucks. But my feeling has been from the beginning that the Republicans’ heart wasn’t in it. They don’t want the mess and they are such an effective opposition party that they can accomplish many of their goals without the presidency. (I suppose that the fact the first string didn’t jump in was the first clue.)I’m sure they would have loved to make Obama a one termer. But they can live without it if they fail.

But any idea that this loss will be so traumatic that they’ll change their spots and become partners like old Tipnronnie back in 82 is delusional. None of this is personal.It’s strictly business. And they have an agenda to advance. The only question is whether the Democrats, including the president, will help them.

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The True the Vote bullies

The True the Vote bullies

by digby

There have been quite a few recent court rulings for the good guys on the vote suppression laws, but another problems remains. This, from Common Cause and Demos, explains:

Will Partisan Bullies at the Ballot Box Change the Outcome of Election 2012?

Voting Rights Groups Release Report on Voter Protection Laws in 10 Key States as Self-Appointed Activists Promise To Block, Intimidate Voters

WHAT: Self-appointed partisan activists are reportedly working to recruit 1 million volunteers to challenge and block certain voters’ right to vote on and before Election Day, creating an atmosphere of intimidation at the polls. In response to these efforts, voting rights organizations Common Cause and Demos will release a new report on voter protection laws in 10 states considered critical in the 2012 election. “Bullies at the Ballot Box: Protecting the Freedom to Vote Against Wrongful Challenges and Intimidation,” highlights laws in key states like Florida and Pennsylvania that could allow partisan activists to prevent voters from casting regular ballots on Election Day and could create chaos for election officials.

The report also details laws in states such as Ohio and North Carolina that do a better job protecting eligible Americans from those who seek to stop them from voting. Wrongful challenges in states with weak voter protection laws could impact the outcome of the elections due to the number of voters who could be wrongfully removed from voting lists or prevented from voting regular ballots on Election Day by the actions of groups like True the Vote and others.

The ten states reviewed in “Bullies at the Ballot Box” include Colorado, Florida, Missouri, Nevada, New Hampshire, North Carolina, Ohio, Pennsylvania, Texas and Virginia.

I’ve been writing about this group for a while. They’ve had some real success, notably in Wisconsin, which has served as a sort of trial run for a bunch of GOP GOTV initiatives as well. I hope the Democrats in these targeted states are ready for it.

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Exclusive interview with Sen. Whitehouse (D-RI) on lame duck cuts: “There will be colossal war…if they try to do that.” by @DavidOAtkins

Exclusive interview with Sen. Whitehouse (D-RI) on lame duck cuts: “There will be colossal war…if they try to do that.”

by David Atkins

My brother Dante and I got a chance to conduct a brief interview with Senator Sheldon Whitehouse of Rhode Island during his visit to the independent media building at the Democratic National Convention in Charlotte on Wednesday. The three subjects covered were filibuster reform, tax cuts for the wealthy, and potential cuts to Social Security and Medicare during the lame duck session. First up, Social Security:

David Atkins: At Hullabaloo, we’ve been covering a lot the of Simpson-Bowles issue and what’s going on with Social Security. Clinton gave a speech last night and the only part that didn’t resonate with the audience was that whole discussion of cuts to Medicare and Social Security. There’s a lot of fear out there–obviously, a lot of people are paying attention to the election, but a lot of us are looking ahead of the election. Assuming Obama wins, which is a big assumption, but even if he doesn’t, what happens during the lame duck session? There’s a lot of fear that that would be used to sort of ram through unnecessary cuts to Social Security on the Simpson-Bowles template, and I was wondering what your plans were, and are we going to fight back on this? What is going to happen?

Senator Whitehouse: I think that as a very general expression of a bipartisan and compromising way to deal with the debt and deficit problem that we have in this country, the Simpson-Bowles outline represents a pretty fair starting point. It has a fatal flaw in my estimation which that it rolls Social Security into the equation. Social Security has a $2 trillion surplus. It contributes virtually not at all to our national debt and deficit. It has long been kind of a bogeyman to the Republican Party that we have Social Security. They want to get rid of it, they want to privatize it, they never liked it. We cannot use this debt and deficit discussion as an excuse or vehicle to go after Social Security which is a separate discussion. It’s sound until 2027, I think, at this point. It has got a huge surplus, and we need to make sure there is airspace between our debt and deficit discussion and Social Security. That’s one of the reasons I helped found the Defending Social Security Caucus, and one of the things I think has happened in the Senate, not invisibly perhaps as it might have, but visibly to those of us who are there, setting Simpson-Bowles aside, the discussion about using Social Security to solve the deficit, has really gone away. And I think in part it’s because I believe we’re up to thirty Senators who have signed on and said, “No way. No way. Not going to happen.” And we make a blocking minority that makes that very difficult for the White House. They’ve backed off, everybody has backed off. And I think that’s an important line. We have a success so far. But when you look at $2 trillion that Wall Street would love to get its hands on, and privatizing Social Security that Wall Street would love to do, this is a fight that’s not going to go away. We’re in a good position on it now, we should not give in, and we need to be alert really for the rest of our lives to protect against those efforts to encroach on it.

David Atkins: So you would expect that that would probably not be successful if they try to roll that through during the lame duck session?

Senator Whitehouse: They would have a colossal war with the vast majority of the Democratic caucus.

David Atkins: Thank you.

Those are very strong words. It would appear that Social Security remains the third rail of American politics, and that very significant efforts are being made to prevent a backslide of toward any sort of Catfood Commission attempts to make cuts to those earned benefits. One doesn’t use the phrase “colossal war” lightly.

Before moving on to questions about Medicare, Dante asked about filibuster reform:

Dante Atkins: What are your thoughts on filibuster reform in the upcoming session? Obviously we’re going to have a very very tight Senate, maybe 51-49, maybe 50-50 with a couple of independents. How do you expect that to go regarding potential rules changes in the upcoming term?

Senator Whitehouse: I support filibuster reform. I’d be cautious about turning us into another House of Representatives and removing the filibuster entirely. But what has happened is that the filibuster has morphed from the old Jefferson Smith, Mr. Smith Goes to Washington filibuster, where you stand out on the floor, and your hair goes awry, you quote from the Bible, you quote from the Constitution, the wily old codger press guy is up in the gallery saying, “Down on the Senate floor, great expression of American democracy, one Senator alone having their say.” There was some excitement to it. Now the signal of a filibuster is the droning quorum call with nothing going on on the floor. And Republicans have moved from filibustering things that they hate and want to stop, to filibustering anything and everything, because each filibuster that they threaten requires the Majority Leader to knock out 30 hours of floor time for a cloture vote, and like bricks, you stack up those 30 hour bricks, and pretty soon you’ve taken away all the free time of the Senate to do any work. You do that 200 times as they did recently, 6,000 hours of Senate time gone, that’s some pretty serious blockading. So that needs to be taken away, and I think you can do it by forcing–first of all limiting the filibuster to, if you’re going to filibuster the motion to proceed to the bill, you shouldn’t have a second right to filibuster again on the bill itself. So I think we can restrict that. But the key thing is that whoever is filibustering, the minority party is filibustering, they should have to control the floor. They should have to be out there making their case. If I’m going to have to filibuster to defend Social Security, if I’m going to have to filibuster on climate change, I don’t mind getting out there on the Senate floor and making that case, and doing it the way it should be done. These filibusters in hiding, in which they don’t come out on the floor, they don’t defend anything, they just block for obstruction’s sake, that is not a productive parliamentary vehicle. It’s simply a timewaster and makes life difficult. They should change it.

David Atkins: Do you think that you would support that reform even if Democrats find themselves in the minority?

Senator Whitehouse: Yes, I think we should. Because I think the institution of the Senate has been degraded by this new Republican filibuster strategy. I think we should reject it. And what it will require us to do if we need the filibuster, is we need to get ourselves out onto the floor. We need to stand on our desks, we need to take the time, we need to make the speeches, and think we’re going to. And I think they should do that. They should be willing to when it’s their turn. I’m comfortable with that, whichever way the Senate control falls.

The idea of forcing the opposition to stand on the Senate floor with an old-school filibuster has been something of a progressive consensus for some time now, so it’s good to see the Senator embrace it as well even if Democrats are in the minority. But what was shocking to me was the 30 hours needed for every cloture vote. I suppose it makes sense from a certain context, but explains why nothing can get done legislatively. It’s not just the gridlock. It’s also the basic time constraints. The Senate is messed up beyond belief.

As far as the tax cuts for the wealthy go, the answer from the Senator was quite interesting:

Dante Atkins: If the Senate remains Democratic, do you expect Senate Democrats to hold the line on refusing to extend the Bush tax cuts for the upper income earners?

Senator Whitehouse: I very much hope that we do, and I expect that we will. I think there is a relationship between how and whether we do that, and how and whether the crisis does that. If the President draws a strong line, I think he’ll have the backing of enough Democratic Senators that he won’t be able to have a veto overridden. That puts him in a very strong negotiating position. And I think that he should take advantage of that, and call and ask for our support. I think if it becomes questionable whether or not the President will stick to his guns, then there are a considerable number of my colleagues, including those who might be up in 2014, who may have to take a more practical and defensive position so they’re not out on this, and then undercut by a White House move later on. So I think that the support is there, but I would just have as my caveat that it has to be really clear from the White House that they’re there with us, and they’re not going to walk back and leave a lot of Senators exposed on a position they’re not willing to hold themselves.

This is incredibly important, and one of the most overlooked problems with the Administration’s near obsession with “compromise” and being the “adult in the room.” Fair or not, the President will always be labeled by the opposition as its most partisan heavyweight. Think how often Democrats would excoriate Republicans in Congress who were to right of even President Bush on issues ranging from immigration to AIDS policy. No matter how far to the middle Obama hews, the Republicans will always accuse him of being a Communist.

That in turn means whenever the Administration caves and waffles, members of Congress who stood alongside the President prior to the compromised retreat are automatically marginalized as “even more liberal than Obama.” Uninformed voters in midterm elections will naturally assume that they’re extremists when the attack ads start rolling in. It may be that tax cuts for the wealthy are so unpopular at this point that a Senator threatened in 2014 could stand on their own two feet on it regardless of the President’s position, but it certainly makes it much harder.

Finally, on Medicare and the lame duck session again:

David Atkins: Got it. One last thing. Thrilled about your answer on Social Security and thank you for all your activism on that. In terms of the other major issue which is, of course, Medicare, I guess a lot of plans have come out and I’m surprised there hasn’t been more of a push for raising the caps as opposed to making earned benefit cuts. What is going on there, and what do you expect to see happen during the lame duck session?

Senator Whitehouse: Well, either in the lame duck session or assuming we do a continuing resolution in March when we have the sort of big budget discussion, I think those are issues that are going to be on the table. I’d love to raise the cap on Social Security, so that someone who is making $100 million isn’t paying the same amount into Social Security as someone making $100,000. That just doesn’t make to me any logical sense. If Social Security could use the support in way out years, why not get started now when it’s an easier foundation to build?

I think the Medicare discussion is one that we need to grab a hold of and win. And we need to do two things: one is to point out that there’s a difference between savings in the Medicare system that come from making a better healthcare system for people, and cutting people’s benefits and giving them less access to the healthcare system. And there’s a clear distinction between those two strategies, and the Republicans have worked very hard to blur those two, and to say that the $716 billion in savings in the Affordable Healthcare Act is actually a cut. It’s not. Unless you’re a big insurance company or a provider. Then maybe it’s a cut to you, but it’s a signal to get more efficient and deliver the care better. And to kind of get that morphed into the plan for the Republicans to take Medicare and get it turned into a voucher program is something we’ve got to be really, really clear on. And the last point I would make, even though this gets a little bit techy and geeky, is that there really is a huge savings potential not in Medicare per se but in our healthcare system from better healthcare delivery, more primary care, more prevention, less administrative overhead, electronic health records, paying doctors for results and keeping patients healthy rather than procedures and treating them when they’re sick, that whole arena of activity is estimated to saving between $700 billion a year and $1 trillion a year in American healthcare, and that needs to be a Democratic issue. That is how you bring down the cost of Medicare and veterans’ care, and TriCare, and Blue Cross and United and all of it, in a way that people in the country can see difference in their lives in better care that costs less because you’re not getting sick, you’re not taking drugs that react badly with each other because nobody kept track that they do react badly with each other and you prescribe both of them. I mean, that’s an arena we need to put light into and we need to own. It’s good policy, it’s innovation, it’s high tech, it’s all the things that we’re for.

David and Dante Atkins: Thank you.

There wasn’t time to press for a follow-up on this issue or on Medicaid, but this answer was something of a dodge. Almost all the admirable provisions for healthcare efficiency that the Senator mentioned are already in the Affordable Care Act. Nor did he seem confident that cuts to Medicare would be avoided, which is almost crazy given the easy political distinction to be made with Paul Ryan and his plan for voucherizing Medicare. While the transcript doesn’t reflect it, his tone seemed to indicate that he would want to avoid cuts, but that he wasn’t so sure others would do the same.

Healthcare advocates know that the only way to truly keep Medicare solvent in the long run is to achieve a universal single-payer system, so that Medicare isn’t constantly covering only the sickest portion of a graying population. But even without that, Medicare is solvent well beyond the next decade–and even if nothing were done at all, it’s “insolvency” wouldn’t collapse the program, but simply reduce benefits. So why reduce them in advance? It makes no sense except to give into conservative demands.

Ultimately, the conversation with Senator Whitehouse gave me confidence that he and other Democratic Senators would fight and win the battle over Social Security regardless of the President’s wishes, and that real filibuster reform might well be in the works. But the ground is much shakier on Medicare, Medicaid and repeal of the tax cuts for the wealthy.

On Medicare and Medicaid it will take direct lobbying of Congress to prevent a Simpson-Bowles fiasco, along with an assist from intransigent Tea Partiers. On tax cuts, it seems that the most effective lobbying effort by progressive grassroots groups would be with the President to keep in him firm, so that Congress can stay firm as well.

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“Norah, you’re mistaken”: Pot and kettle edition

“Norah, you’re mistaken”: Pot and kettle edition

by digby

O’DONNELL: Now you’re criticizing the President for those same defense cuts you’re voting for and called a victory.

RYAN: No, no — I have to correct on you this, Norah. I voted for a mechanism that says the sequester will occur if we don’t cut $1.2 trillion in government. … We can get into this nomenclature; I voted for the Budget Control Act. But the Obama Administration proposed $478 billion in defense cuts. We don’t agree with that, our budget rejected that, and then on top of that is another $500 billion in defense cuts in the sequester.

O’DONNELL: Right. A trillion dollars in defense spending, and you voted for it!

RYAN: No, Norah. I voted for the Budget Control Act.

O’DONNELL: That included defense spending!

RYAN: Norah, you’re mistaken.

Ryan, unsurprisingly, is “fudging” here. It’s what he does:

The Budget Control Act, as passed, included both the roughly $600 billion in “sequestration” cuts that will happen if there’s no compromise on the budget by December as well as the $487 billion of military-supported cuts that will take place regardless. The fact that Ryan may have wished that the bill didn’t contain said defense cuts does not absolve him of the fact that he and 201 other Republicans voted for the bill as-passed.

Moreover, Ryan’s statement after voting for the bill contained not a single word of criticism about the defense cuts. As O’Donnell correctly noted, Ryan said the bill “represents a victory for those committed to controlling government spending and growing our economy” and that “The agreement – while far from perfect – underscores the extent to which the new House majority has successfully changed Washington’s culture of spending.”

The problem is that lyin’ Ryan can’t reconcile his image as a hardcore fiscal hawk with the Party boy who does whatever it takes to beat the opposition. It’s tripping him up all over the place.

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The Romney Welfare State

The Romney Welfare State

by digby

This morning on This Week, Krugman and Rand Paul went back and forth on Romney’s “weaponized Keynesianism” and agreed that it was hypocritical. (Baby steps …) And it’s true that the Romney campaign is out there fearmongering about job losses from Obama’s phantom “defense cuts.”

Will Saletan at Slate wrote a story about this on Friday:

Mitt Romney has launched a flurry of new TV ads explaining how he’ll protect and create jobs: more government spending.

The ads, available on Romney’s YouTube channel, are tailored to eight swing states. The one running in Virginia, near me, says: “Here in Virginia, we’re not better off under President Obama. His defense cuts threaten over 130,000 jobs—lowering home values, putting families at risk.” Similar ads in other states complain that Obama’s reductions in military spending threaten 20,000 jobs in Colorado, 20,000 in Ohio, and “thousands more” in Florida and North Carolina.

Romney promises to save these jobs by shielding the Pentagon budget. Here’s his pitch in Virginia: “Romney’s plan? Reverse Obama defense cuts. Strengthen our military, and create over 340,000 new jobs for Virginia.”

This really takes some chutzpah coming from the “we built that” people. You can parse it a number of ways and I’m sure they’ll say they aren’t promising to create 340,000 new defense jobs, but you can forgive voters for thinking that’s what he’s saying.

Romney has been talking up the military and the defense industry as an employment haven for weeks. On Aug. 14, he warned that looming defense cuts would “threaten 150,000 defense-related jobs” in Virginia. A week later, his new running mate, Paul Ryan, declared that the cuts “could put almost 44,000 jobs at stake right here in Pennsylvania. We’re not going to let that happen.” In North Carolina, Ryan said he and Romney opposed the cuts because “we don’t want to trade small-business jobs for military jobs. We want more jobs across the board.” And last week, Romney protested that under the cuts, “up to 1.5 million jobs could be lost. GDP growth could fall significantly.”

For the most part, the cuts to which Romney has objected are automatic. It’s perfectly sensible to argue that military spending should be reduced instead in a more targeted, deliberate way. But Romney doesn’t propose such targeted reduction. He rejects it. In last week’s speech, he pledged:

The Obama administration is set to cut defense spending by nearly a trillion dollars. My administration will not. Working together with my running mate, Paul Ryan, I will make reductions in other areas and install pro-growth policies to make sure that our country remains safe and secure. There are plenty of places to cut in a federal budget that now totals well over $3 trillion a year, but defense is not one of them.

In an interview with Fortune last month, Romney said he would use any savings in the Pentagon budget not to reduce the deficit but “to increase the number of active-duty personnel by approximately 100,000, to restore our military equipment which has been destroyed in conflict, and to invest in the coming technologies of warfare.” What’s more, in his 2012 budget proposal, Ryan allocated more money for defense than the Pentagon requested, arguing, “We don’t think the generals are giving us their true advice.”

Earlier I mused about the possibility that the GOP will become dovish in Obama’s second term and wondered how anti-war lefties might leverage that if it came to pass. My reasoning wasn’t based on any illusions that the Republicans were reverting to their old pre-commie isolationism, but rather partisan advantage. I think this proves it.

The Democrats are very competent stewards of the Authoritarian National Security States and some of them show a real flare for the creepiest covert stuff. But they are still amateurs in comparison to the GOP. Ostentatious, aggressive Military hegemony is absolutely central to their plans, economically as well as philosophically. What a choice.

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The Medicare Strategy

The Medicare Strategy

by digby

This is an interesting analysis of Romney’s Medicare campaign advertising from Alex Koppelman:

I disagree with this a bit, actually. It is true that they are using this gambit but I think it has little to do with Ryan. In fact, I would imagine they were always planning this ad blitz. After all, it worked very well for them in 2010:

No, they know very well that their only growing demographic is senior citizens and the best wedge they have is those cuts to Medicare providers in Obamacare. This was always the plan.

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QOTD: Mittens

QOTD: Mittens

by digby

Clear as mud:

On NBC’s “Meet The Press,” Romney dodged multiple questions about which deductions or credits he’d target, saying only that he’ll get rid of “some of the loopholes and deductions at the high end” while seeking to “lower the burden on middle income people.”

Pressed for one specific example, Romney replied, “Well, the specifics are these which is those principles I described are the heart of my policy.”

Is it possible that Mitt was just a figurehead at Bain? Because he just doesn’t seem like he kind of guy who put together complicated deals to me.

Anyway, both campaigns are being somewhat cutesy about what “loopholes” they’d end, but there are substantial differences on this issue:

Individual income tax rates: They are currently 10%, 15%, 25%, 33%, and 35%. Those rates are scheduled to expire at the end of the year and higher rates will take their place. The increases would affect those who report wage and business income on individual returns.

Obama: Would make those Bush-era tax rates permanent for everyone except those making more than $200,000 ($250,000 if married). For those high-income households, Obama would preserve the Bush tax rates at the low end (10%, 15% and 25%) but raise the top two rates to 36% and 39.6%.
Romney: Would reduce each of the Bush-era income tax rates by 20%. So the top rate would fall to 28% and the bottom rate would fall to 8%.
Romney would also like to repeal the new health reform law. If he succeeds, that would mean a repeal of the 0.9 percentage point increase in the Medicare tax on high-income households called for under that law. (Watch video: Romney’s economic plan in 90 seconds)
Alternative Minimum Tax: Currently, unless Congress makes special adjustments for inflation to the amount of income exempt from the AMT, the so-called wealth tax would hit tens of millions in the middle class. Making the adjustment is costly; getting rid of the AMT altogether is really costly.
Obama: Would permanently adjust the AMT for inflation.
Romney: Would abolish the AMT.
Investment income tax rates: Long-term capital gains and qualified dividends are currently taxed at 15%. Interest is subject to ordinary income tax rates. For those at or below the 15% income tax bracket, however, they have a 0% capital gains and dividend rate.

Obama: Would raise the capital gains rate to 20% and tax dividends at ordinary income tax rates for those making more than $200,000 ($250,000 if married).
Romney: Would maintain the current 15% investment income tax rate, but exempt from taxation all capital gains, dividends and interest for those with adjusted gross incomes up to $100,000 ($200,000 for married couples).
Given that Romney has said he would like to repeal the new health reform law, if he succeeds in doing so, that would result in the repeal of the new 3.8% Medicare tax on investment income for high-income households, which the health reform law created. The new tax is scheduled to go into effect for the first time in 2013.

Carried interest tax rate: Managers of private equity, venture capital and hedge funds are taxed at 15% on the portion of their compensation known as carried interest — which represents a share of the profits from the funds they manage.
Obama: Would tax carried interest as ordinary income, meaning rates for fund managers would more than double.
Romney:
In the past has said the rate should not be raised. But during this campaign cycle, Romney’s advisers have left open the possibility that he’d consider increasing the rate.
Tax breaks: Tax credits, deductions and other breaks reduce revenue by more than $1 trillion every year. To pay for lower income tax rates and reduce deficits, many breaks — including the largest and most popular — have to be eliminated or curtailed, experts say.
Obama: Has proposed limiting the value of itemized deductions and other tax breaks such as exclusions for those with adjusted gross income over $200,000. Today, many filers in that group can deduct 33% or 35% of a qualified expense. Obama would limit that to 28%. Obama also has proposed making permanent some expanded tax breaks for the middle class, such as one for college costs.
Romney: Has failed to specify which tax breaks he’d eliminate or reduce to help pay for his proposed tax cuts. He has suggested that he would limit them for high-income filers, but has offered no details. Economist Martin Feldstein, a Romney campaign adviser, noted in a recent Wall Street Journal editorial that he would keep all deductions but limit their value to a small percentage of a taxpayer’s adjusted gross income.

Estate tax: Until the end of this year, only estates valued at more than $5.12 million are subject to an estate tax up to a 35% top rate. Barring congressional action, all estates worth more than $1 million will be subject to the estate tax at a top rate of 55% next year.

Obama: Would reinstate the estate tax at 2009 levels — meaning estates worth more than $3.5 million would be subject to the tax and face a top rate of 45%.
Romney: Would repeal the estate tax but preserve the gift tax rate at 35%.
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