Daily Archives: September 20, 2012


NBC News releases full Obama ‘redistribution’ video, Romney campaign in trouble

I like the headline NBC News releases full Obama ‘redistribution’ video, Romney campaign in trouble from the Examiner article.

At MSNBC the headline is In rest of ’98 clip, Obama speaks of ‘competition’ and ‘the marketplace’.


Thanks to Tangelia Sinclair-Moore for posting all of this on her Facebook page. This is where I first heard about the full video.

My reaction to Tangelia’s post was:

It’s beautiful the way the Republicans are getting sucked into a debate that they cannot win. It is about time we have a discussion about whether we should redistribute wealth upward by awarding lower tax rates for passive income over earned income, or we should keep the income where it was earned by having the same tax rate structure for all kinds of income.


If you are worried about the poor people who depend on income from investments that they made with their earned income, then we can keep the capital gains rate for capital gains and dividends for all those families earning less than $250,000 a year. This would confine the tax break to where it is really deserved and needed.


Jon Stewart: Chaos on Bulls**t Mountain

Here is an excerpt from The Daily Show with Jon Stewart.


If you would like to see this without the commercial, try this link.

In the 48 hours since the Romney video first gained wide exposure, turd containment crews at Faux Noise have been working overtime on Bulls**t Mountain.


I am so glad that Jon Stewart takes the pain out of watching Faux Noise by doing the hard work of watching it and digesting it for us.


Campaigns’ debate of redistribution of wealth fuels parties’ biggest divide

The McClatchy article Campaigns’ debate of redistribution of wealth fuels parties’ biggest divide is rather naively written, but it provides me a jumping off place for a good rant.

“Mitt Romney and I are not running to redistribute the wealth, Mitt Romney and I are running to help Americans create wealth,” Ryan said at a rally in Danville, Va.

Ok, let’s have a debate about redistribution of wealth.  Obama believes that some of the money earned by your hard labor should be redistributed to you by applying equal tax rates to all income.  Romney believes that money ought to be redistributed upward to the wealthy via lower tax rates for passive income than for earned income.

The article itself contributed the following:

By one measure, 49.1 percent of Americans lived last year in a household that received some government benefits, according to a study of census data by the Wall Street Journal. That was up from 30 percent in the 1980s and even from the 44.4 percent in the third quarter of 2008.

By one measure 100% of Americans lived last year in a household that received some government benefits,

The wealthy Americans received the most benefits.  They get lower tax rates on the incomes they get by stealing from the poor.  They get court protection to enforce the tricky contracts that their armies of lawyers foisted on the unsuspecting poor.

This is exactly the chicanery that Elizabeth Warren, candidate for Senator for Massachusetts, wants to put a stop to.  Her invention, The Consumer Finance Protection Bureau, is already working to punish the corporations that practice these scams.

And another gem from the article:

Some get checks from programs such as Social Security and Medicare, which are financially supported by payroll taxes from younger Americans.

I paid my money to buy Social Security and Medicare insurance.  Why is it an issue of how the insurer decides to fund the bought and paid for benefits?  In the wisdom of Congress they have decided that the Social Security and Medicare trust funds will give the government loans at below market rates so that the Government could give tax cuts for the wealthy.  In return they have to use money coming in from younger workers to pay the benefits bought by older workers.  And somehow, this newspaper wants to turn this into a dig at the non-wealthy for receiving benefits that they paid for.  How about we stop making gifts of our Social Security and Medicare payments to the rich and make them pay their fair share of taxes?

Somehow, the wealthy always find a way to claim that the government is redistributing wealth to the poor, while they grab all the big bennies from the government for themselves.  It is about time for the media to stop promoting this fantasy.  If it weren’t for the fact that the media are owned by the wealthy, we might actually get my own personal fantasy fulfilled.