Archive for the ‘Romney, Mitt’ Category

Maybe Romney was right about more than Russia.

August 28, 2017

He warned about military readiness, and Obama mocked him.

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Remember the 2012 Presidential debates?

Former President Obama mocked Romney for highlighting Russia as a major geo-political risk.

Governor, the 1980’s are calling.

They want their foreign policy back.

The Cold War is over!

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click to view

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And, when Romney observed that our military strength had been depleted, especially with hot spots developing around the globe, Obama took him to the hoop again.

Romney said; “’Our Navy is smaller now than at any time since 1917.’

Obama quipped::

Well, Governor, we also have fewer horses and bayonets, because the nature of our military’s changed.

We have these things called aircraft carriers, where planes land on them.

We have these ships that go underwater, nuclear submarines.

And so the question is not a game of Battleship, where we’re counting ships.

The mainstream press and other Obama supporters took the opportunity to portray Romney as old-fashioned and clueless about modern warfare.

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Memo to former President Obama:

FYI:  bayonets are still standard issue for marines … and all branches train recruits on hand-to-hand combat and knife wielding – a close cousin of bayonets – is a part of the training.

And, while horses aren’t a primary means of troop transport, special forces are sometimes forced to use horses to reach some of the tough terrain parts of Afghanistan.

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The bigger issue is the size of the Navy’s fleet.

Who’s right on that one: Obama or Romney?

We’ll address that in our next post.

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click to view Romney’s remarks and Obama’s mocking rebuke

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Here’s my nomination for FBI Director…

May 15, 2017

Pundits have been throwing around names of possible Comey replacements.

For example, the NY Times list includes:

Andrew G. McCabe, the acting director of the F.B.I.;

Senator John Cornyn, Republican of Texas;

Judge Michael J. Garcia of the New York State Court of Appeals and the former United States attorney for the Southern District of New York;

Alice Fisher, a former top Justice Department official who would be the first woman to run the agency.

Mike Rogers,  the former chairman of the powerful House Intelligence Committee, who represented Michigan and once served as an agent in the bureau.

One person strikes me as a perfect choice … but I haven’t heard his name mentioned.

Here are his qualifications:

  • Considered by all to be squeaky clean
  • Holds a JD from Harvard (Obama’s alma mater).
  • Has a track record turning around big organizations
  • Was an outspoken Trump critic during the campaign
  • ID’ed the Russian threat before it became fashionable

So, who’s my pick?

(more…)

Tell me again: When did Dems start thinking that Russia was a threat?

February 17, 2017

This recent brouhaha about General Flynn chatting up the Russian ambassador seems  to have stoked new flames for hair-on-fire Dems.

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Let’s go back a few years.

Remember the 2012 Presidential debates?

A key moment was when President Obama ridiculed Gov. Romney’s knowledge of foreign affairs.

Given Democrats reaction to recent events, this clip is a classic …  try to stay calm when you.watch it

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Here’s more that’ll make make you scream …

(more…)

Obama’s CIA chief says that Trump is naive about Russia …

January 17, 2017

Wonder if the guy watched the 2012 Presidential debates when Obama mocked Romney and declared the cold war to be over …

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 On the Sunday talk shows, outgoing CIA Director John Brennan had some sharp criticism and warnings for President-elect Trump.

Brennan said  that Trump is a bit naive and doesn’t have a “full understanding” of Russia’s power and the threat to the world posed by Russia’s aggressive actions.

Brennan failed to mention that — up to a couple of months ago — President Obama didn’t consider Russia to be much of a threat.

I wish the shows’ anchors had asked Brennan if he remembered the 2012 Presidential debates?

A key moment was when President Obama ridiculed Gov. Romney’s knowledge of foreign affairs.

The clip is a classic …  try to stay calm when you.watch it

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Here’s more that’ll should make you scream …

(more…)

Flashback: Obama schools Romney that “Russia isn’t a threat”

December 14, 2016

Remember the 2012 Presidential debates?

A key moment was when President Obama ridiculed Gov. Romney’s knowledge of foreign affairs.

Given the current hysteria over Russia, the clip is a classic …  try to stay calm when you.watch it

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Here’s more that’ll should make you scream …

(more…)

Flashback: Obama schools Romney that “Russia isn’t a threat”

October 1, 2015

With Russia now propping up the Assad regime, “requesting” that the U.S. pull all troops and planes from Syria, and clearly establishing its sway in in the Middle East, I think a flashback is in order.

Remember the 2012 Presidential debates?

A key moment was when President Obama ridiculed Gov. Romney’s knowledge of foreign affairs.

Given recent events in the Ukraine, the clip is a classic …  try to stay calm when you.watch it

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Here’s more that’ll make make you scream …

(more…)

Buyer’s remorse, post-purchase cognitive dissonance, and the 2012 election …

July 28, 2014

First, a definition lifted from Wiki:

Buyer’s remorse is the sense of regret after having made a purchase. It is frequently associated with the purchase of a big ticket item such as a car or house.

It may stem from fear of making the wrong choice, guilt over extravagance, or a suspicion of having been overly influenced by the seller.

Buyer’s remorse is thought to stem from the post-decision cognitive dissonance that arises when a person makes a difficult decision.

Factors that affect buyer’s remorse include resources invested, the involvement of the purchaser, whether the purchase is compatible with the purchaser’s goals, and what positive or negative evidence the purchaser encounters post-purchase that confirms or denies the purchase as a good idea.

 

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= = = = =

Bet you can guess where this one is going.

Remember the 2012 election when Obama squared off against Romney?

Obama won the election with 51% of the popular vote.

My, how things have changed.

(more…)

Flashback: Obama schools Romney that “Russia isn’t a threat”

March 3, 2014

Remember the 2012 Presidential debates?

A key moment was when President Obama ridiculed Gov. Romney’s knowledge of foreign affairs.

Given recent events in the Ukraine, the clip is a classic …  try to stay calm when you.watch it

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Here’s more that’ll make make you scream …

(more…)

Countering Springsteen …

October 26, 2012

… with Meat Loaf.

According to the Toledo Blade, a Romney event in Defiance, Ohio “featuring” Meat Loaf drew a crowd of 12,000.

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Raises a couple of questions:

1, Did they come to see Mr. Romney or Mr. Loaf?

2. Do you think his friends call him “Meat” or “Loaf” or something else?

3. Seriously, did you know the Meat Loaf was still alive?

4. Can you name Meat Loaf’s biggest hit? Any of his other hits?

Answer: click to see Top Ten Best Meat Loaf Songs

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Who would you trust to handle your family’s money & bank accounts – Obama or Romney?

October 10, 2012

Interesting question asked in the latest Fox News poll.

Not surprisingly, Romney gets the nod 50% to 38%

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Hmmm.

Remember, the Fed gov’t doesn’t have any money of it’s own – it just takes and manages our money.

And, since voter preferences are running about 50-50 … about 12% either don’t think the question is relevant or are satisfied having the inferior money-handler handling their dough.

Go figure.

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Update

I was asked about possible sampling bias …. here are the “internals” with party affiliation … and more

click to view

Draw your own conclusions.

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“Liar, liar pants on fire” …. eh, fugetaboutit

October 9, 2012

President Obama thought that his go-to punch during the debate was a study by the a non-partisan research group that “proved” that Romney’s tax plan “didn’t add up” and would result in middle class tax increases and cuts to Autistic kids’ healthcare.

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Since Romney boldly rejected that shot during the debate, Team Obama has been running around with their hair on fire, screaming that Romney lied when he said his plan’s numbers tied together.

Well, for openers, the non-partisan research group is the left-leaning Tax Policy Center … and one of the economists used to work on the Obama campaign.

Hmmm.

More important, the assertion that Mitt’s plan is out-of-whack is based on a paper written by Harvard economist Martin Feldstein and Princeton economist Harvey Rosen.

Prof. Rosen has stepped forward to say that’s not true.

Prof. Rosen told the Weekly Standard  that the Obama campaign is misrepresenting his paper on Romney’s tax plan

Specifically, Prof. Rosen said:

I can’t tell exactly how the Obama campaign reached that characterization of my work.

It might be that they assume that Governor Romney wants to keep the taxes from the Affordable Care Act in place, despite the fact that the Governor has called for its complete repeal.

The main conclusion of my study is that under plausible assumptions, a proposal along the lines suggested by Governor Romney can both be revenue neutral and keep the net tax burden on taxpayers with incomes above $200,000 about the same.

That is, an increase in the tax burden on lower and middle income individuals is not required in order to make the overall plan revenue neutral.

You can check the math that shows Romney’s plan is mathematically possible … and, shows that the only hurdle is repealing ObamaVare and its tax hikes … an action that’s high on Romney’s to do list.

Bottom line: Seems that Team Obama may be lying when it says that Romney is lying … at least about his tax plan.

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Boing! Boing !!

October 8, 2012

Pew Research reported the results of its first post-debate poll.

Better news for Mitt than I expected.

First, Pew confirms the insta-poll number from debate nite … 2 of 3 people thought that Romney won the debate … 20% of all people (mostly the 44% of Dems) thought Obama won it … (those people also probably think that Elvis is still alive.)

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Likeability

Interestingly, Romney pulled even with Obama on likeability … Obama lost 5 points, Mitt gained 5 points  … now,roughly half of all folks view each of the candidates favorability.

That’s a big deal since Obama has been showcasing his likeability on The View, Letterman, etc.

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Most important

There was a 12 point swing in the Presidential horse race number among likely voters … pre-debate, Obama was leading by 8 points … after the debate, Mitt is leading by 4.

Based on the poll’s “internals”, Romney gained ground among all groups except blacks …  who still gave Obama 92% support.

Game on.

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Piling on: New Yorker cover says it all …

October 6, 2012

Things are bad when you’re a liberal and the New Yorker turns on you …

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Maybe Clint Eastwood was prophetic …

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If you missed the debate …

October 5, 2012

Here’s a 90 second recap that tells you all that you need to know …

click to view

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Breaking news: Romney’s tax rate only 14.1% … but his all important GBSR is 43%

September 21, 2012

OK, Romney released his 2011 tax return.

  • In 2011, the Romneys paid $1,935,708 in taxes on $13,696,951 in mostly investment income.
  • The Romneys’ effective tax rate for 2011 was 14.1%.
  • The Romneys donated $4,020,772 to charity in 2011, amounting to nearly 30% of their income.

Holy Buffett, Mitt only paid 14.1% in Federal income taxes … a lower rate than Warren’s secretary.

Scoundrel.

Let’s re-write the tax code.

Not so fast.

Last fall, the Homa Files coined a new metric: the GBSR™ – “Give Back to Society Rate

We defined the GBSR™ as the sum of taxes paid plus charitable contributions – since those are all money that’s supposed to be going to the common good, albeit administered by different organizations – divided by AGI.

In Romney’s case, his release says that he made $13.7 million … paid $1.9 million in taxes … and donated a whopping $4.02 million to charities.

So, his tax rate may sound meager @ 14.1%, but his GBSR™ is about 43% – and that’s not counting state & local income taxes.

My bet: add S&L taxes in and Mitt‘s GBSR™ is way over 45%.

So, it just may be that the tax code is leading fat cats to do the right thing – it’s just that they’re giving much of their dough to private charities instead of the Feds.

Do you blame them?

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Romney’s 20 year tax history

According to the Standard ,,,

  • In each year during the entire 20-year period, the Romneys owed both state and federal income taxes.
  • Over the entire 20-year period, the average annual effective federal tax rate was 20.20%.
  • Over the entire 20-year period, the lowest annual effective federal personal tax rate was 13.66%.
  • Over the entire 20-year period, the Romneys gave to charity an average of 13.45% of their adjusted gross income.
  • Over the entire 20-year period, Romney’s GBSR™ the total federal and state taxes owed plus the total charitable donations deducted represented 38.49% of total AGI.

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For comparison …

Filers in Obama’s millionaire range ($200,000 to $250,000) donate about 2.5% of their income to charities.

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A good day for Team R&R …

August 16, 2012

On Monday, I laid out the Brer Rabbit strategy that I thought Team Romney was implementing.

Note: Pundits are now calling it “Political Jujitsu”

The essence: name Ryan and lure Team Obama into the Medicare trap … get them to repeat their claim that Ryan wants to throw granny off a cliff … and then bang …  counter attack and put ObamaCare on the table.

Team Romney probably didn’t expect help from others , it got some.

First, a video of Erskine Bowles – you know, of Simpson-Bowles fame – went viral.

The video shows Bowles (a Democrat) praising Ryan and his budget.

“Have any of you all met Paul Ryan? We should get him to come to the university. I’m telling you this guy is amazing. … He is honest, he is straightforward, he is sincere. And the budget that he came forward with is just like Paul Ryan. It is a sensible, straightforward, serious budget and it cut the budget deficit just like we did, by $4 trillion. … The president as you remember, came out with a budget and I don’t think anybody took that budget very seriously. The Senate voted against it 97 to nothing.”

click to view vid
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On cue, the Dem talkers started ripping on Ryan.

As soon as they did, Team Romney launched the counter-attack …  reminding folks that Medicare funds were being raided to pay for ObamaCare … taking Medicare funds away from seniors and sprinkling them to others.

click to view vid

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On cue, the Dem talkers denied that Obama would ever consider raiding Medicare.

Oops.

Tape on file shows Pres. Obama telling Jake Tapper of ABC that he would, he did, and he’d make it stick.”

TAPPER: One of the concerns about health care and how you pay for it — one third of the funding comes from cuts to Medicare.
PRESIDENT BARACK OBAMA: “Right.”

TAPPER: Are you willing to pledge that whatever cuts in Medicare are being made to fund health insurance, one third of it, that you will veto anything that tries to undo that?
OBAMA: Yes.

click to view vid

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That’s called “hoisting yourself by your own petards.”

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2012 campaign bumper stickers …. game on

April 13, 2012

In case you were off the planet yesterday, Hillary Rosen — reportedly a DNC adviser —  dissed  Ann Romney (and millions of stay-at-home moms) that Mrs. Romney — a mother of 5 and cancer survivor — has no cred re: economic issues because she  “hasn’t worked a day in her life”.

Oops … stepped in it.

According to the Washington Post, Team Romney quickly seized the opening:

The Romney campaign’s quick reaction to Rosen’s comments — Ann Romney Twitter feed, Fox News hit, conference call — speak to an operation that is ready for the minute-by-minute battle that is modern presidential campaigning.

Romney’s operation won a measure of respect for their handling of the slipup by Rosen.

Already there’s a Romney  bumper sticker available for sale.

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Buffett, Romney & the Give Back to Society Rate

January 30, 2012

The cameo by Buffett’s secretary at last night’s SOTU address, and Mitt’s released tax returns have re-elevated the issue “coddling the rich” with low tax rates (compared to their secretaries).

Last fall, when we dissected Buffett’s taxes, we coined a  measure: the GBSR™ – “Give Back to Society Rate

We defined the GBSR™ as the sum of taxes paid plus charitable contributions – since those are all money that’s supposed to be going to the common good, albeit administered by different organizations – divided by AGI.

We crunched the numbers and concluded that Buffett pays about $7 million in Federal taxes, about $3 million in state taxes, and about $20 million to charities … for a total of $30 million … which dived by his $63 million AGI … gives a GBSR™ of almost 50% (47.6% to be precise).

We concluded that Buffett may not be the piker that he claims to be.  And, maybe he should stop causing trouble for other folks by constantly whining about the tax code.

In Romney’s case, his release says that he made $21 million … paid $3 million in taxes … and donated $3.7 million to charities.  So, his tax rate may sound meager @ 14%, but his GBSR™ is almost 32% – and that’s not counting state & local income taxes.  My bet: add S&L taxes in and Mitt ‘s GBSR™ is way over 40%, too.

So, it just may be that the tax code is leading fat cats to do the right thing – it’s just that they’re giving much of their dough to private charities instead of the Feds.

Do you blame them?

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Here’s the original HomaFIles post:

Squeezing Buffett’s numbers … Part 5 (and done !)
Homa Files 10/21/2011

OK, today should about do it.

After a recap, I’ll drop my conclusion on you … my very surprising conclusion

First. a recap to get everybody on the same page.

In Part 1, we looked hard at Buffett’s effective income tax rate (17.4%), and showed how he could get to that low rate by offsetting practically all of his ordinary income with $23 million in deductions.

This conclusion debunks the popular pundit point that he gets to the rate by having practically all of his income in capital gains and dividends.

In Part 2, we showed that about $20 million of the deductions are probably charitable contributions – a device that rich folks use to (1) do good things and (2) to manage down their tax liabilities.

Better to give to a cause that you believe in, right? Why give it to the government and have it waste the money?

In Part 3, we agreed that Buffett’s tax rate as a percentage of his taxable income is probably less than his secretary’s – partially due to his capital gains being taxed at a comparatively low rate, but mostly because he shelters his ordinary income with charitable deductions.

And, we showed how ordinary earners can get to a rate lower than Warren’s … just by donating a huge chunk of their income to charity. Not realistic, but mathematically possible.

In Part 4, we showed that Buffett’s tax rate as a percentage of AGI is only 11% …. about half of the estimated rate for our hypothetical secretary surrogates.

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Now, my first reaction when I stared at the taxes to AGI rate was “Wow, Buffett’s right – he’s nothing but a coddled piker.”

But now, I’m not so sure.

On one hand, his paying a rate (to taxable income) that’s 5 points less than his secretary doesn’t seem fair. Especially since he gets to the rate by exploiting some dreaded tax loopholes, aka. “deductions”.

The situation seems even worse when you consider his taxes to AGI rate – a mere 11% – less than half of his secretary’s rate (I suspect).

Gotta jack up taxes, right?

Not so fast.

Let’s construct another measure: the GBSR™ – “Give Back to Society Rate

Since I’m coining the measure, I’ll define the GBSR™ as the sum of taxes paid plus charitable contributions – since those are all money that’s supposed to be going to the common good, albeit administered by different organizations – divided by AGI.

OK, so what’s Buffett’s GBSR?

Well, based on my estimates, Buffett pays about $7 million in Federal taxes, about $3 million in state taxes, and about $20 million to charities … for a total of $30 million … which dived by his $63 million AGI … gives a GBSR™ rate of almost 50% (47.6% to be precise).

Now, let’s pretend that Buffett’s secretary profiles like our $100,000 ordinary earner above. Her charitable deductions would be at most $5,700. Otherwise she wouldn’t be taking the standard deduction, she’d itemize.

So, her GBSR™ @ $100,000 AGI is 27.5% ($5,700 + $21,709 = 27,409 / $100,0000 = 27.5%).

That means that Buffett’s GBSR™ is almost twice his secretary’s.

Hmmm.

Maybe he’s not such a bad guy and I should stop ranting about him.

And, maybe he should stop causing trouble for other folks by constantly whining about the tax code.

It just may be that the tax code is leading to the right answer.

Just have to look around the trees to see the forest.

AMEN

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