Featured Stories
More Utter Bullshit From Mitt
September 24, 2012
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Posted by Bob Lord We shouldn't be surprised by Mitt's rank dishonesty anymore, but coming from someone who says he knows business, this one is a doozy. On 60 Minutes last night, in explaining why it's ok for him to be taxed at a lower rate than folks making $50,000 per year, Mitt dishonestly claimed: … Read more
Obama campaign ad: ‘No Taxes’
September 24, 2012
Posted by AzBlueMeanie:
The Obama campaign is up with a new ad, "No Taxes":
Voiceover:
"Mitt Romney attacked 47% of Americans who pay no income tax– including veterans, elderly, the disabled."
Mitt Romney:
"My job is not to worry about those people."
Voiceover:
"Doesn't the President have to worry about everyone? Mitt Romney paid just 14.1% in taxes last year. He keeps millions in Bermuda and the Cayman Islands. He won't release his tax returns before 2010. Maybe instead of attacking others on taxes. Romney should come clean on his."
Video below the fold.
Ballot initiative forum at PCC’s West Campus Sept. 27
September 23, 2012
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by David Safier
PCC West will host a forum discussing Prop. 115 (Judicial Selection), Prop. 204 (One cent sales tax renewal for education) and Prop. 121 (Top 2 "Open Elections") Thursday, Sept. 27, 6pm, at 2202 W. Anklam Road.
Pima Community College and a consortium of Arizona academic institutions are joining Project Civil Discourse to host a statewide discussion on three initiatives that will be on November’s ballot.
The discussion will take place at seven locations across Arizona – including PCC’s West Campus, 2202 W. Anklam Road – on Thursday, Sept. 27. A presentation by a panel of experts will be simulcast to each of the locations before participants take part in a facilitator-led discussion about the initiatives.
“Arizona faces significant challenges, but our ability to engage in public deliberation to explore solutions is at an all-time low,” said Jane Prescott-Smith, the managing director of the National Institute for Civil Discourse and an organizer of the event. “Project Civil Discourse, an initiative of the Arizona Humanities Council, aims to change this by providing opportunities for Arizonans to talk and listen to each other through structured dialogue on important community issues.”
Read the rest of the Media Release below the fold.
GOP gives up on Gabby (Mercer, that is)
September 23, 2012
by Pamela Powers Hannley The GOP has been targeting Congressman Raul Grijalva for removal for years. Remember Ruth McClung? The Democrats initially dismissed the young, blond "rocket scientist" with the fiery, Sarah-Palin-style speechifying, but in the end, the new-comer nearly whooped the Congressman's ass in 2010. Fast forward to 2012, the Republicans are running another attractive … Read more
“Imagine” how proud the St. Louis Post-Dispatch must be right now
September 23, 2012
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by David Safier The St. Louis Post-Dispatch has done terrific investigative work looking into its Imagine charter schools. Its good work was rewarded by the Missouri Press Foundation. An investigation into real estate deals by St. Louis' Imagine schools was honored Saturday by the Missouri Press Foundation with the top investigative reporting award among large-circulation … Read more
Flake hiding in the bunker, will not debate Carmona
September 23, 2012
Posted by AzBlueMeanie: The Arizona Daily Star took up my challenge to use some of its campaign advertising windfall to host a debate for the U.S. Senate race, but Rep. Jeff Flake is hiding in the bunker and refuses to debate Dr. Richard Carmona. The Star today says it has provided six dates in early October for a … Read more
Arizona Democratic Party 2012 Hall of Fame Dinner
September 23, 2012
Posted by AzBlueMeanie: Announcement from the Arizona Democratic Party: 2012 Hall of Fame Dinner Hall of Fame Dinner October 10th, 2012with Keynote Speaker Sacramento Mayor Kevin Johnson Sheraton Downtown Phoenix Hotel340 North 3rd Street Phoenix, AZ 85004 6:00p.m. VIP & General Receptions, Registration7:00p.m. Dinner DINNER SPONSORSHIP LEVEL$25,000 Dinner Sponsor(10 VIP and Dinner Tickets, Priority Seating, … Read more
Bracket Creep Upside Down: The 47% Discussion We Should Be Having
September 22, 2012
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Posted by Bob Lord
On "Real Time" last night, Bill Maher made a comment that went to something I've been ruminating about since Romney's 47% remarks went viral, something I've given a lot of thought to over the last five years. The focus of our discussion should be why the income of 47% of Americans is so low that they pay no income tax.
Essentially, we are experiencing what I'll refer to as bracket creep upside down. Up until the '80s, Americans faced a phenomenon known as bracket creep. Although their incomes in real dollars were not increasing, but merely keeping pace with inflation, they'd feel as if their taxes were increased, because they would "creep" into higher tax brackets, because the brackets were defined in nominal dollars, not real dollars. For the most part, bracket creep was eliminated by the indexing of tax brackets to changes in the consumer price index. So, if your income simply kept pace with inflation and nothing more, your marginal tax bracket would stay the same.
Since 1980, however, and especially since 2000, the incomes of most Americans have not kept pace with inflation (while the income of those at or near the top has skyrocketed). As a result, we're experiencing the opposite of bracket creep or "bracket creep upside down." As the tax brackets adjust to account for changes in the cost of living, the income of most Americans is not keeping pace with inflation. Thus, most Americans are creeping down the tax brackets over the years. Prior to 1980, nominal incomes increased due to inflation, while tax brackets remained constant, resulting in bracket creep. Since 1980, tax bracket inflection points have increased due to inflation, while incomes have not kept pace with inflation, resulting in bracket creep upside down. And, by the way, the stated level of inflation we've experienced, based on the consumer price index, almost undoubtedly is less than real inflation. For a discussion of this, read "Bad Money," by Kevin Phillips. If tax brackets had kept pace with the real level of inflation, over 50% of Americans would be paying no income tax.
