So now I have to spend the next two years hoping Ginsburg stays healthy and that the GOP doesn’t figure it they better retire their old SC ahs and replace them with younger SC ahs.
People voted for pot and minimum wage.
People voted against pols and particularly Senate Conservadems and House Blue Dogs.
As of now I don’t see a wave of successful Tea Party initiatives that passed when compared to the large number of Tea Party pols.
This potential disconnect between movement on policy and movement on pols needs some examining. Each Party’s Caucus moved away from the center creating a pol void there. Even as people seemed to be moving towards progressive policy on social issues, minimum wage, pot and incarceration.
Interesting: 57% over 65, 60% white (49% Asian), 58% married, 60% protestant/Christian, 53% Catholic, 57% over 100K/yr (54% 50 to 100K/yr) 53% of no to some college and 54% with degree is the republican voter.
Interestingly, of the educated, 54% with post grad degrees when dem. So what income hole to they fit and where is their religious beliefs and are they white? Ok just being funny here.
Of the religion ID, all the others asked were in the mid to high 60% dem, Jewish, Other and none.
Yeah that’s the shocker. All those democratic candidates that campaigned tirelessly for increasing the minimum wage, social issues etc. ended up losing. No wait…
Voters enacted a ban on fracking in deep red Denton TX. No wonder every democratic candidate came out strongly criticizing widespread fracking practices!
This midterm as it has with every 6 year midterm for every president since WWII has been bad. My concern is will Obama give everything away. He is willing to discuss Corporate Taxes when we really do no need it.
‘Despite the claims of corporate apologists, international business ‘competitiveness’ has nothing to do with the reasons for these deals,’” Edward D. Kleinbard writes. ‘Whether one measures effective marginal or overall tax rates, sophisticated U.S. multinational firms are burdened by tax rates that are the envy of their international peers.’”
Sorkin counters; “What? We’ve been told repeatedly that the United States has the highest corporate tax rate in the developed world — 35 percent — which is higher than the nominal tax rates in places like Ireland (12.5 percent), Britain (21 percent) and the Netherlands (25 percent) and the 24.1 percent average rate of all countries that are part of the Organization for Economic Cooperation and Development.”
Sorkin goes on with Kleinbard’s points. “All that is true,” contends Professor Kleinbard; however, “most United States multinational companies do not pay anywhere near 35 percent. Companies paid an average 12.6 percent, according to the Government Accountability Office, which last measured it in 2010 and avoid taxes by deliberately stashing piles of cash abroad.”
We are told corporation deliberately keep money outside of the US so they do not have to pay taxes and they would bring it back to the US and invest if we are kind enough to lower the rate. Yea right! McConnell say he wants to fix the Corporate tax which he claims is a job killer (I almost threw up several times listening to his BS).
So what is the deal? Are corporations being taxed too high and deliberately keep money out of the US to avoid taxes? The argument by Kleinbard is “lower tax rates are not driving companies to inversions; instead, he contends it is all the money that companies have overseas — some $2 trillion — and don’t want to bring back to the United States despite protestations by many chief executives that they wish they could.”
Companies have become adept at avoiding corporate taxes and take advantage of the US tax code, are more competitive than their foreign counterparts, and do not face the same “anti-abuse” rules which non-US companies face in stricter territorial tax systems. Inside of accepted accounting rules, US firms take full advantage in operations in lower tax jurisdictions in a cash tax matter and also through the U.S GAAP measurement of a company’s performance.
Is the excess $2 trillion in profits trapped overseas due to high US corporate taxes? Kleinbard thinks not and points to one company in particular which has used it to their advantage. In 2013, Apple was borrowing in the US and using its offshore foreign earnings to pay the incurred interest. The burdensome US tax code allows interest earned on offshore cash to be included in the US company’s income offsetting the tax deduction on interest expense from US borrowing. In effect, no harm is done to company’s economic stance from borrowing.
While there is agreement the US tax code is inefficient; Kleinbard states, “one of the few deficiencies it has avoided is imposing an unfair international business tax competitive burden on sophisticated U.S. multinationals.” http://angrybearblog.strategydemo.com/2014/08/have-it-your-way.html
I listened to McConnell and all I heard were lies spewing forth from the mouth of a man who made it his goral to make Obama a one term president. Why Obama did not break their backs after being elected the second time is beyond me. He had the political capital to do so and he squandered it. While this loss was not unusual for 6 year president, Obama had the ability and the timing to alter it and he did nothing.
So now I have to spend the next two years hoping Ginsburg stays healthy and that the GOP doesn’t figure it they better retire their old SC ahs and replace them with younger SC ahs.
Maybe I’ll take up gaming……
Lots to process.
People voted for pot and minimum wage.
People voted against pols and particularly Senate Conservadems and House Blue Dogs.
As of now I don’t see a wave of successful Tea Party initiatives that passed when compared to the large number of Tea Party pols.
This potential disconnect between movement on policy and movement on pols needs some examining. Each Party’s Caucus moved away from the center creating a pol void there. Even as people seemed to be moving towards progressive policy on social issues, minimum wage, pot and incarceration.
Interesting times.
Brownback was re-elected? What is there to say? Or think?
Here is a NYT national exit poll results. http://www.nytimes.com/interactive/2014/11/04/us/politics/2014-exit-polls.html?smid=tw-nytimes&_r=2
Interesting: 57% over 65, 60% white (49% Asian), 58% married, 60% protestant/Christian, 53% Catholic, 57% over 100K/yr (54% 50 to 100K/yr) 53% of no to some college and 54% with degree is the republican voter.
Interestingly, of the educated, 54% with post grad degrees when dem. So what income hole to they fit and where is their religious beliefs and are they white? Ok just being funny here.
Of the religion ID, all the others asked were in the mid to high 60% dem, Jewish, Other and none.
Last but not least 56% male went repub.
Yeah that’s the shocker. All those democratic candidates that campaigned tirelessly for increasing the minimum wage, social issues etc. ended up losing. No wait…
Voters enacted a ban on fracking in deep red Denton TX. No wonder every democratic candidate came out strongly criticizing widespread fracking practices!
Just read a funny response to an article about why millennials did not show up to vote. Siri didn’t remind them.
This midterm as it has with every 6 year midterm for every president since WWII has been bad. My concern is will Obama give everything away. He is willing to discuss Corporate Taxes when we really do no need it.
‘Despite the claims of corporate apologists, international business ‘competitiveness’ has nothing to do with the reasons for these deals,’” Edward D. Kleinbard writes. ‘Whether one measures effective marginal or overall tax rates, sophisticated U.S. multinational firms are burdened by tax rates that are the envy of their international peers.’”
Sorkin counters; “What? We’ve been told repeatedly that the United States has the highest corporate tax rate in the developed world — 35 percent — which is higher than the nominal tax rates in places like Ireland (12.5 percent), Britain (21 percent) and the Netherlands (25 percent) and the 24.1 percent average rate of all countries that are part of the Organization for Economic Cooperation and Development.”
Sorkin goes on with Kleinbard’s points. “All that is true,” contends Professor Kleinbard; however, “most United States multinational companies do not pay anywhere near 35 percent. Companies paid an average 12.6 percent, according to the Government Accountability Office, which last measured it in 2010 and avoid taxes by deliberately stashing piles of cash abroad.”
We are told corporation deliberately keep money outside of the US so they do not have to pay taxes and they would bring it back to the US and invest if we are kind enough to lower the rate. Yea right! McConnell say he wants to fix the Corporate tax which he claims is a job killer (I almost threw up several times listening to his BS).
So what is the deal? Are corporations being taxed too high and deliberately keep money out of the US to avoid taxes? The argument by Kleinbard is “lower tax rates are not driving companies to inversions; instead, he contends it is all the money that companies have overseas — some $2 trillion — and don’t want to bring back to the United States despite protestations by many chief executives that they wish they could.”
Companies have become adept at avoiding corporate taxes and take advantage of the US tax code, are more competitive than their foreign counterparts, and do not face the same “anti-abuse” rules which non-US companies face in stricter territorial tax systems. Inside of accepted accounting rules, US firms take full advantage in operations in lower tax jurisdictions in a cash tax matter and also through the U.S GAAP measurement of a company’s performance.
Is the excess $2 trillion in profits trapped overseas due to high US corporate taxes? Kleinbard thinks not and points to one company in particular which has used it to their advantage. In 2013, Apple was borrowing in the US and using its offshore foreign earnings to pay the incurred interest. The burdensome US tax code allows interest earned on offshore cash to be included in the US company’s income offsetting the tax deduction on interest expense from US borrowing. In effect, no harm is done to company’s economic stance from borrowing.
While there is agreement the US tax code is inefficient; Kleinbard states, “one of the few deficiencies it has avoided is imposing an unfair international business tax competitive burden on sophisticated U.S. multinationals.” http://angrybearblog.strategydemo.com/2014/08/have-it-your-way.html
I listened to McConnell and all I heard were lies spewing forth from the mouth of a man who made it his goral to make Obama a one term president. Why Obama did not break their backs after being elected the second time is beyond me. He had the political capital to do so and he squandered it. While this loss was not unusual for 6 year president, Obama had the ability and the timing to alter it and he did nothing.
One day people will point out where “political capital” appears in the Constitution.
But not today.