Gabriel Gomez is already a terrible candidate. He wasn’t supposed to be, because on paper he sounds swell! He’s running for John Kerry’s Massachusetts Senate seat against Democrat Ed Markey. Good luck with that.
A Suffolk University poll has Markey receiving 52 percent of the vote to Gomez’s 35 percent among likely voters, with 11 percent undecided. A poll from WBUR, the NPR affiliate in Boston, shows Markey with an 8-point edge among likely voters, 46 percent to 38 percent, including leaners.
[Gomez] claimed a $281,500 deduction on his income taxes for promising not to alter the appearance of his historic home. While he identified this “easement” as a donation to a controversial Washington, DC-based organization, he was reportedly already prevented from making any such changes under local historic preservation laws — a move the Internal Revenue Service has identified as a common “tax scam.” [...]
So he hates taxes and says “we need to start looking at the corporate tax loopholes as well as the personal loopholes… we shouldn’t have a tax code that is thousands of pages long” as he exploits fancy schmancy personal tax loopholes.
No hypocrisy there, Gabe, you little “tax scammer” you.
But wait, there’s more! A bonus post by Joan McCarter at DKos: Gomez furiously tries to distance himself from his swift boat organization!
Another guest post is by our pal and regular TPC contributor, David Garber:
WHO’S GUTTING WHO?
Here’s the headline currently on Huffington post: “Obama: ‘We’re Probably Not Gonna Get A Deal’ If GOP Insists On ‘Gutting’ Medicare, Social Security, Medicaid”
Okay, on the surface, that sounded reasonable until I focused on the word, Obama’s word, ‘Gutting’. Wait a minute — that should be touching, not gutting. Stop way before gutting. The holy trinity cannot be touched. Period.
Why are we even discussing this? Has Obama lost sight of his victory from last November? Here we are, just beginning his second term, and he’s out trying to strike a grand bargain. Why? Is America clamoring for one? Maybe, but not the one Obama or the Republicans are talking about.
What we the people are looking for is a deal on immigration reform and gun control. And jobs.
But do you know what we need even more? An overhaul to the tax system. We want a fair and efficient system — with more revenue for the Dems and less government for the Repubs. And you want to know how easy that is to accomplish? Very.
Don’t let the liars in Washington fool you. Or the shortsighted news readers on the TV and radio. Overhaul is as simple as a stroke of the pen.
How? Simply slash the outrageous tax breaks for the super rich. Before you tune me out, just consider this:
Do you realize we give big banks interest-free money and let them keep it and call it profits? Yup, and they’re not even encouraged to use it for customer loans or service. It’s OUR TAX MONEY. Yet go in and try to get a loan. Good luck.
If a big bank needs cash to stay afloat, force them to use that money for loans to individuals and small businesses, or else the bank must return the money within two years WITH a punitive interest payment for the use of the money. If you borrowed money, whether you used it or not, you’d have to pay the piper. Why not JP Morgan/Chase or Citibank?
Implement these suggestions and watch how quickly financial institutions start giving out home mortgages to those who qualify or start up capital for small businesses to get launched. Need new equipment to modernize your small company? The banks will loan it because if they don’t, they will have to pay interest. Watch the economy jump then. Big banks will become smaller and new banks will start up and carry those who leave the big established financial institutions for those who care about their customers. No depositor will be losing money. Nor will the banks unless they’re unscrupulous, in which case, leave them. There will be options.
What’s holding us back are loopholes that should never have been in existence in the first place. Their purpose has long since retired — along with the crooks who wrote them into the tax codes.
And just like the NRA who scares the Bejesus out of our elected officials when we talk any sort of gun control, the rich do the same if you threaten their loop holes.
Politicians think only the rich put money into their campaigns so the poor and middle class don’t matter. Ask Karl Rove how that went. Our vote is what they need even more than money. And our vote counts just as much as the millionaires’ or business tycoons’.
So demand what’s important — our elected representatives start representing us — the poor and middle class. The rich don’t need our help. Obama and Congress should be talking about gutting — but gutting the tax system, not our security nets.
The Holy Trinity, Medicare, Social Security and Medicaid cannot be tampered with. They’re not the problem. We can even improve them and cut our taxes at the same time — hear that, Republicans, tax cut — if you stop protecting your rich cronies and do your job.
Congress, we can remove you — and we will. We’ll gut you (with our votes) like Jack the Ripper — a sacrifice that’s more important than gutting 99% of the public. Dump the Chump!
For the past 25 years, David Garber has been serving as the show runner and or writer on some of television’s biggest hits… Saved By The Bell, Power Rangers, 227, Bill Cosby Show and many other network series. His writing and producing have also netted David two very prestigious awards:the PRISM AWARD and the TV CRITICS AWARD – TV SPECIAL OF THE YEAR. Currently he’s authoring a short story series called “A Few Minutes With…”
It’s reassuring to know that President Obama isn’t like MI Dictator, er, Gov. Snyder who declared a financial emergency in Detroit and will appoint emergency manager to take over.
Some excerpts. President Obama:
Washington sure isn’t making it easy. At a time when our businesses have finally begun to get some traction, hiring new workers, bringing jobs back to America, we shouldn’t be making a series of dumb, arbitrary cuts to things that businesses depend on and workers depend on like education and research and infrastructure and defense. It’s unnecessary, and at a time when too many Americans are still looking for work it’s inexcusable.
And let’s be clear: None of this is necessary. It’s happening because a choice that Republicans in Congress have made. They’ve allowed these cuts to happen because they refuse to budge on closing a single wasteful loophole to help reduce the deficit.
As recently as yesterday, they decided to protect special- interest tax breaks for the well-off and the well-connected, and they think that that’s apparently more important than protecting our military or middle-class families from the pain of these cuts.
I do know that there are Republicans in Congress who privately at least say that they would rather close tax loopholes than let these cuts go through. I know that there are Democrats who’d rather do smart entitlement reform than let these cuts go through.
And, I think, there are other areas where we can make progress, even with the sequester unresolved. I will continue to push for these initiatives. I’m going to keep pushing for high-quality preschool, for every family that wants it. I’m going to keep pushing to make sure that we raise the minimum wage so that it’s one that families can live on. I’m going to keep on pushing for immigration reform, and reform of our voting system, and improvements on our transportation sector. And I’m going to keep pushing for sensible government (ph) reforms, because I still think they deserve a vote.
And what I’ve said very specifically, very detailed, is that I’m prepared to take on the problem where it exists on entitlements, and do some things that my own party really doesn’t like if it’s part of a broader package of sensible deficit reduction.
[T]he Republicans have made a choice that maintaining an iron-clad rule that we will not accept an extra dime’s worth of revenue makes it very difficult for us to get any larger, comprehensive deal.
And that’s a choice they’re making. They’re saying that it’s more important to preserve these tax loopholes than it is to prevent these arbitrary cuts. And, you know, what’s interesting is Speaker Boehner just a couple months ago identified these tax loopholes and tax breaks and said, we should close ‘em and raise revenue.
Jessica Yellin: Mr. President, to your question, what could you do. First of all, couldn’t you just have them down here and refuse to let them leave the room until you have a deal?
Pres. Obama: You know, the — I mean, Jessica (ph), I — I am not a dictator. I’m the president. So, ultimately if Mitch McConnell or John Boehner say, “We need to go to catch a plane,” I can’t have Secret Service block the doorway. Right?
As everybody here knows, last year upon a long period of reflection, I concluded that we cannot discriminate against same-sex couples when it comes to marriage, that the basic principle that America is founded on, the idea that we’re all created equal, applies to everybody regardless of sexual orientation, as well as race or gender or religion or ethnicity.
And, you know, I think that the same evolution that I’ve gone through is an evolution that the country as a whole has gone through. And I think it is a profoundly positive thing. So that when the Supreme Court essentially called the question by taking this case about California’s law, I didn’t feel like that was something that this administration could avoid. I felt it was important for us to articulate what I believe and what this administration stands for.
The rest of the transcript can be found at the link.
Your Daily Dose of BuzzFlash at Truthout, via my pal Mark Karlin:
Bloomberg Businessweek (ironically owned by politician plutocrat and defender of the oligarchy Michael Bloomberg) just reported that “a hedge fund tax dodge uses Bermuda reinsurers” … But the Bermuda based “reinsurers” are sometimes just little more than mail drops that serve as a vehicle for tax-evasion money laundering, with little concern being expressed by the IRS. [...]
Referring to three gluttonously wealthy hedge fund managers, Bloomberg Businessweek reveals:
The companies set up by Paulson, Cohen, and Loeb are all located within a half-mile of each other in the narrow streets of Hamilton, Bermuda’s capital and the global center of the reinsurance industry. The three put a combined $1.7 billion back into the fund managers’ hands last year.
Even the Murdoch-owned tabloid The New York Post jumped on the legalized theft from the public purse of this scheme…
Billionaire hedge-fund moguls are getting comfortable with a US tax loophole to fatten their already plump bottom lines. [...]
Hedgies like John Paulson and Steve Cohen are forming reinsurance companies in tax-free havens like Bermuda or the Cayman Islands — and then transferring cash from their funds to the reinsurance companies.
The cash, classified as insurance company reserves, is then transferred back into the funds as reserves to be invested for future claims.
Thanks to an IRS loophole, profits from these insurance companies aren’t taxed — until the stake in the fund is sold, and that could be years down the line.
And here’s the kicker: The taxes, when paid, are at the lower capital-gains rate and not as ordinary income. [...]
The more the rich get richer, the more they get a free pass from legal oversight.
Please read the entire post here.
I don’t know about you, but I get jittery every time I hear the president mention “entitlement reform.”
Think Progress has a good post up that illustrates how the “new” GOP is echoing Willard Romney’s “old” GOP. Please read it. They also include an at-a-glance chart from which I’ve excerpted only Tax Reform, Education, and Health Care. Or as I like to call it, corporate welfare, union busting, and privatization.
Did I mention there’s a wealth gap? Did I mention that Marco Rubio is a phony baloney, pandering GOP parrot?
More at the link, but here’s a peek at the “Party of No… Change”:
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Kuwaiti Citizen Detained at Guantanamo since 2002
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