Horizon (PBS) on Prop. 119: State Trust Lands
October 3, 2012
Posted by AzBlueMeanie:
Proposition 119 would amend the constitution to allow Arizona to trade state trust land, within certain limitations and with public notice and public vote requirements, for other public land. Learn more about this measure, which currently faces no organized opposition.
Historical note: This measure is nearly identical to Prop. 110 in 2010 which lost narrowly by almost 9,000 votes.
Video below the fold.
Presented without comment
October 3, 2012
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by David Safier On Three Sonorans, David Morales criticized me — rather gently, I must say — for one part of my TUSD endorsements. I'm linking to it here because I think it's a reasonable critique. Note I didn't say I agree. I just think his analysis has merit and belongs in the discussion. I … Read more
What will we tell the Texas children who were kicked out of school?
October 3, 2012
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by David Safier The "What will we tell the children?" headline usually signals another standardized test cheating scandal. This is much worse. The El Paso school district got rid of high school freshmen who were likely to fail the all-important sophomore test — as much as half the freshman class — so the schools' scores … Read more
Obama campaign ad: ‘Mitt Romney’s Offshore Tax Havens’
October 3, 2012
Posted by AzBlueMeanie:
Building upon the New York Times investigative report on Tuesday that I posted about below, the Obama campaign is up with a new ad, "MItt Romney's offshore tax havens."
Video below the fold.
Romney’s “I dig it” trust: leaving assets while avoiding taxes
October 3, 2012
Posted by AzBlueMeanie:
Last week Bloomberg News reported on Willard "Mittens" Romney's "I dig it" trust — no really, that's what these estate tax avoidance trusts are called. Romney ‘I Dig It’ Trust Gives Heirs Triple Benefit – Bloomberg:
In January 1999, a trust set up by Mitt Romney for his children and grandchildren reaped a 1,000 percent return on the sale of shares in Internet advertising firm DoubleClick Inc.
If Romney had given the cash directly, he could have owed a gift tax at a rate as high as 55 percent. He avoided gift and estate taxes by using a type of generation-skipping trust known to tax planners by the nickname: “I Dig It.”
The sale of DoubleClick shares received before the company went public, detailed in previously unreported securities filings reviewed by Bloomberg News, sheds new light on Romney’s estate planning — the art of leaving assets for heirs while avoiding taxes. The Republican presidential candidate used a trust considered one of the most effective techniques for the wealthy to bypass estate and gift taxes. The Obama administration proposed cracking down on the tax benefits in February.
While Romney’s tax avoidance is both legal and common among high-net-worth individuals, it has become increasingly awkward for his candidacy since the disclosure of his remarks at a May fundraiser. He said that the nearly one-half of Americans who pay no income taxes are “dependent upon government” and “believe that they are victims.”
Offshore Mitt profits from tax avoidance schemes
October 3, 2012
Posted by AzBlueMeanie:
Willard "Mittens" Romney has been claiming for months that his offshore holdings in tax havens like Bermuda and the Cayman Islands have brought him "not one dollar of reduction in taxes."
As any tax attorney will tell you, that is pure unadulterated bullshit. Tax avoidance is the very reason why Mittens' holdings are in Bermuda and the Cayman Islands.
Romney believes the American people are stupid and he insults your intelligence when he says such utter nonsense.
The New York Times in a front page article on Tuesday reported the obvious, Offshore Tactics Helped Increase Romneys’ Wealth:
Buried deep in the tax returns released by Mitt Romney’s presidential campaign are references to dozens of offshore holdings with names like Ursa Funding (Luxembourg) S.à.r.l. and Sankaty Credit Opportunities Investors (Offshore) IV, based in the Cayman Islands.
Mr. Romney, responding to opponents’ barbs about his use of overseas tax havens, has offered a narrow defense, saying only that the investments, many made through the private equity firm he founded, Bain Capital, have yielded him “not one dollar of reduction in taxes.”
A review of thousands of pages of financial documents and interviews with tax lawyers found that in some cases, the offshore arrangements enabled his individual retirement account to avoid taxes on its investments and may well have reduced Mr. Romney’s personal income tax bills.
But perhaps a more significant impact of Mr. Romney’s offshore investments has been on the profit side of the ledger — in the way Bain’s tax-avoidance strategies have enhanced his income.
PCDP African-American Caucus Presents: New Voter Education 101
October 3, 2012
Posted by AzBlueMeanie: Announcement from the Pima County Democratic Party: VOTER EDUCATION CLASS Presented to you by: African American Caucus of the Pima County Democratic Party "NEW VOTER EDUCATION 101" THURSDAY, OCTOBER 4th, 2012 6:30 p.m. – 7:30 p.m. Martha Cooper Library 1377 N. Catalina Ave., Tucson, AZ 85712 EVERYONE IS WELCOME! Next week's topic is … Read more
Obama V. Romney Debate at Drinking Liberally
October 2, 2012
Drinking Liberally Tucson will be screening the big debate tomorrow night on a the big screen on the patio of the Shanty. The debate starts promptly at 6pm, so to ensure you can get a drink, get a good seat, and settle in prior to launch, you should plan to arrive before 6! See you … Read more
