Some thoughts - Tragedy, Comedy, Tragedy, ?

A cursitory review of recent proposed legislation from the House of Representatives can only lead to one conclusion, when Republicans talk about lowering regulations against business they are talking about gutting environmental regulations, more political code.

 

The 2012 national comedy! One of the key platforms of Governor Romney is the overturning of Obama’s key legislation.  Unfortunately for Mr. Romney this is virtually the same piece of legislation that he passed while holding the only public office he ever held as Governor of Massachusetts.  In fact Obama modeled Obamacare on Romneycare.  SO Romney and Obama are the ONLY American politicians who have passed comprehensive healthcare reform and that major legislation is the main object of contention between these 2 candidates.  It’s a little hard to believe.  

 

The Legend Romney Hood explained - many clients are quite surprised when I tell them that approximately 25% of American tax filers get more back from the IRS then they paid in, yes that is correct, taxpayers for whom the IRS sends refunds in excess of what was withheld from their W-2’s.  For these tax filers and the corrupt politicians that support them the IRS has become a de facto Federal welfare agency.  Most Americans find this astounding, on top of the 50% + of American’s who do not pay any income tax, we now find that half of them actually have a negative tax liability.

Now how does this relate to the Presidents Legend of Romney Hood?  It turns out that Mr. Romney has proposed an end to the refundable tax credits (the earned income tax credit, college tuition credits, dependent child credit, etc) that allow these fliers to have a negative tax liability.  This proposition is being cast as a tax increase by the President.  OK, let’s review once again the pretzel logic in the legend of Romney Hood, Mr. Romney proposes that we end the role of IRS as federal welfare agency, that no taxpayer get a refund greater then what they paid in.  The filer never paid taxes in the first place, in fact had a negative tax liability and now that he or she is not going to receive this unwarranted “refund” any longer is being cast as a tax increase in the current presidential race. 
Can anyone doubt that by the end of this campaign will have seen these 2 midget’s and their sundry super PAC’s will duke it out and reach heretofore unseen depths of falsehoods, obfuscation, corruption, cynicism, crony capitalism and pandering in their race to be leader of the free world.

 

I think Paul Ryan has the ability to be a real game changer; we will see how Romney embraces and uses Representative Ryan as we move forward