Lunch Rush: This edition brought to you by Sandal Socks.
- TDW Geek: The cat who “sings” the Game of Thrones theme
- Pitiful: Newsweek concedes that it didn’t fact-check its cover story by Niall Ferguson, “Hit The Road, Barack”
- Finally: Jimmy Kimmel will move to 11:30 and face off against Leno and Letterman
- Strange: “Mitt Romney and Paul Ryan” is an anagram for “My Ultimate Ayn Rand Pr0n”
- Predictable: A pr0n star’s syphilis has shut down the industry indefinitely
- Official: Junior Seau’s autopsy showed no signs of alcohol or illicit drugs
- Weird: AMC is sending a zombie to the upcoming conventions to protest Dish Network
Lunch Lady: Natacia Bhatia
Lunch List: 14 Uncommon Celebrity Look-Alikes
In Columbus today
THE PRESIDENT: A few months ago, just up the road, in Westerville, Governor Romney said, if you want to be successful, if you want to go to college or start a business, you can just — and I’m quoting here — “borrow money if you have to from your parents.”
AUDIENCE: Booo —
THE PRESIDENT: When a high school student in Youngstown asked him what he would do to make college more affordable for families like his, Governor Romney didn’t say anything about grants or loan programs that are critical to millions of students to get a college education. He said nothing about work-study programs or rising college tuition. He didn’t say a word about community colleges or how important higher education is to America’s future. He said, the best thing you can do is shop around.
AUDIENCE: Booo —
THE PRESIDENT: The best thing I can do for you is to tell you to shop around.
AUDIENCE MEMBER: That’s it!
THE PRESIDENT: That’s it. That’s his plan.
During a speech a few months ago, Governor Romney even explained his energy policy this way: ‘You can’t drive a car with a windmill on it. That’s what he said about wind power. ‘You can’t drive a car with a windmill on it.’ I wonder if he actually tried that, I know he’s tied other things to his car.
You could drive a car with a solar panel on it. And there’s probably a way to harness wind power from driving at high speeds. Of course learning how to do that would require investment in education and science, which are evil liberal values. Green energy: there are options!
But yeah. Siiiiick burn.
Paul Ryan… the guy who wrote a bill to privatize medicaid and social security, the guy who thought the retirement plans and health money which we paid for through our paychecks was better off in the hands of the private sector. The guy who lacks in foreign policy, the guy who voted against equal pay for women. The guy who shows up to a VP ticket without a tie on. The guy who wants to cut benefits for veterans yet shows up at the Navy base in Virginia and blatantly lies in front of everyone. The guy who literally doesn’t believe we should give “so much” into pell grants for students like us who can barely even make it through college.
I don’t know what to say. It’s been hours and I’m sitting here like, “please tell me I am dreaming. This is a joke. Please tell me this is a joke. Please tell me my grandma will be okay. Please tell me there are not people in this country that believe things work this way.”
You work hard, stretch every penny, but chances are you pay a higher tax rate than him: Mitt Romney made $20 million dollars in 2010, but paid only 14% in taxes—probably less than you.
Now he has a plan that will give millionaires another tax break and raises taxes on middle class families by up to $2000 dollars a year. Mitt Romney’s middle class tax increase: he pays less, you pay more.
Learn more: http://OFA.BO/AHWfiR
I acknowledge that it was a kinda dickish thing for Harry Reid to claim — baselessly or not — that Mitt Romney hadn’t paid taxes for ten years. But all Mitt Romney has to do to put those questions to rest is release his tax returns. So easy, even a Mitthead can do it!
Once upon a time a rich man named Romney ran for president. He could claim, with considerable justice, that his wealth was well-earned, that he had in fact done a lot to create good jobs for American workers. Nonetheless, the public understandably wanted to know both how he had grown so rich and what he had done with his wealth; he obliged by releasing extensive information about his financial history.
But that was 44 years ago. And the contrast between George Romney and his son Mitt — a contrast both in their business careers and in their willingness to come clean about their financial affairs — dramatically illustrates how America has changed.
…What did George Romney do for a living? The answer was straightforward: he ran an auto company, American Motors. And he ran it very well indeed: at a time when the Big Three were still fixated on big cars and ignoring the rising tide of imports, Romney shifted to a highly successful focus on compacts that restored the company’s fortunes, not to mention that it saved the jobs of many American workers.
It also made him personally rich. We know this because during his run for president, he released not one, not two, but 12 years’ worth of tax returns, explaining that any one year might just be a fluke. From those returns we learn that in his best year, 1960, he made more than $660,000 — the equivalent, adjusted for inflation, of around $5 million today.
Those returns also reveal that he paid a lot of taxes — 36 percent of his income in 1960, 37 percent over the whole period. This was in part because, as one report at the time put it, he “seldom took advantage of loopholes to escape his tax obligations.” But it was also because taxes on the rich were much higher in the ’50s and ’60s than they are now. In fact, once you include the indirect effects of taxes on corporate profits, taxes on the very rich were about twice current levels.
Now fast-forward to Romney the Younger, who made even more money during his business career at Bain Capital. Unlike his father, however, Mr. Romney didn’t get rich by producing things people wanted to buy; he made his fortune through financial engineering that seems in many cases to have left workers worse off, and in some cases driven companies into bankruptcy.
And there’s another contrast: George Romney was open and forthcoming about what he did with his wealth, but Mitt Romney has largely kept his finances secret. He did, grudgingly, release one year’s tax return plus an estimate for the next year, showing that he paid a startlingly low tax rate. But as the Vanity Fair report points out, we’re still very much in the dark about his investments, some of which seem very mysterious.
Put it this way: Has there ever before been a major presidential candidate who had a multimillion-dollar Swiss bank account, plus tens of millions invested in the Cayman Islands, famed as a tax haven?
NY TIMES EDITORIAL: "There is no meaningful difference between the trickle-down economics of George W. Bush, rejected by the country in 2008, and the plans supported by Mr. Romney and his Republican allies in Congress. All the elements are there, from the slavish devotion to tax cuts for the rich, to a contempt for government regulation, to savage cutbacks in programs for those at the bottom."
Romney: The country doesn’t need more firefighters, police or teachers
The New York Times | By MICHAEL D. SHEAR
“Could Mitt Romney be any more disconnected from the concerns of middle-class Americans?” said R.T. Rybak, the vice chairman of the Democratic National Committee. “To suggest that police, firefighters and teachers aren’t helping the American people and aren’t vital to our communities shows that he has no clue what’s going on in the real world.”
Mr. Rybak added: “Mitt Romney’s assertion that the American people don’t benefit from firemen, policemen and teachers is so detached from reality I did a double take – I had to check twice to be sure he had actually said it.”
“We knew Mitt Romney liked firing people, but we didn’t know that included firefighters and cops,” Mr. Schumer said. “Middle-class voters already distrust Mitt Romney for being out-of-touch and uncaring about regular folks. Bragging about wanting to give pink slips to first responders only cements that perception.”