‘Romney Rule’

18 January 2012 |permalink | email article

MITT remains closer to releasing his tax returns in the spring, but on Tuesday he confirmed the crown jewel that Democrats have been salivating about—he pays an effective tax rate of about just 15 percent. He remains unclear which year of income he’ll actually release. Adding it all up, as Talking Points Memo has reported, the result is that he pays a lower rate than many middle income Americans. Obama and national Democrats have made this discrepancy a major economic message in the general election. Call it the ‘Buffet Rule,’ a reference to Warren Buffet’s complaint that the tax code is broken because he pays a lower tax rate, as one of the world’s richest men, than his own secretary

Wisconsin Recall

In a stunning feat, Democratic and independent critics of Gov. Scott Walker have collected more than one million signatures, nearly twice as many as required, on petitions to recall him and force a new election in late spring or early summer. What triggered the anger in what may be the largest signature drive in American history was the effort by Walker, a Republican, who took office a year ago and set off a firestorm by curtailing benefits and collective bargaining rights public workers. Walker, at a fund raiser in New York on Tuesday, said “instead of going back to the days of billion dollar budget deficits, double digit tax increases and record job loss, I expect Wisconsin voters will stand by me and keep Wisconsin moving forward. Described by Democrats as a push back by the middle class against breaks for the one percent it could portent similar grassroots uprisings in other states.

L.A. Politic

Veteran County Supervisor Zev Yaroslavsky continues his media tease about whether or not he will run for mayor in the spring 2013 election. If he decides to join a field of serious candidates Zev believes he can raise a three to five million war chest in short order. The jury remains out. 

Quotable

Excerpt from “The Real Romney,” by Boston Globe reporters Michael Kranish and Scott Helman: “Romney’s unsuccessful campaign to unseat Sen. Edward M. Kennedy in 1994 in which he tried to present himself as an acceptable choice on social issues to independents, wayward Democrats, and especially women.” The authors also note Romney did not join the Republican Party until October, 1993, previously gave to Democratic Congressional candidates and voted for Paul Tsongas, the iconoclastic liberal, and unsuccessful primary candidate for the 1992 Democratic presidential nomination.

”I have seen the very best of America.”—NYT Columnist Frank Bruni, describing dropout Jon Huntsman’s voice as not persuasive. “His mood matched his tie. Both were blue.”

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