Romney’s Taxing Problem


The Pink Flamingo wants to see a Republican elected POTUS in 2012.  Unfortunately, I think we are on the path to nominating a candidate the right refuses to vet, and the MSM won’t, until he is all set in office, so they can bring him down and prop up Obama.

We have a very real problem here with Romney’s wealth.

No, it’s not because he’s wealthy.  There is a perception problem about how he made his  millions. There is also a very taxing problem with off shore accounts.  Anyone who thinks he isn’t using them to avoid taxes in this country is delusional.  If I were in the same position, I would be doing the same thing.

It’s a great idea, unless you are running for POTUS in the worst economic downturn since the Great Depression.

Perception is everything.  If those who are supporting Romney cannot see how he is going to be eviscerated in November, they are delusional.

A report in the Hill highlights the problem we are going to be facing.

“…“We don’t know if [Romney is] using these accounts to avoid paying his fair share in taxes, but we do know that in 2010, Romney’s tax rate was a startlingly low 13.9%,” read a message on the Obama campaign website. “This means Romney pays a lower tax rate than many teachers, firefighters, police officers, and other middle-class Americans — even a lower rate than most other millionaires.”

Democrats have used their push for the Buffett Rule, which states that wealthier taxpayers should pay a rate at least as high as middle-class taxpayers, to highlight Romney’s wealth and effective 14 percent tax rate. Romney pays a lower tax rate because most of his income is capital gains, which is hit with a 15 percent tax rate….

“If elected, Romney’s proposed tax plan would cut tax rates for the wealthy even further — cutting his own taxes and protecting loopholes that he benefits from,” the statement on the campaign website continued. “At the same time, he opposes the President’s Buffett Rule, which would require millionaires and billionaires to pay their fair share. That’s not right.”…”

You add this to the fact that NORMAL GOP fundraising sources are NOT donating to Romney, and – well, this is how Obama is re-elected.

The Politico

This is where the problem is, and more.  Don’t believe all those cheery tales out of Romney’s camp about their fundraising.  They aren’t pulling individual donors.  Then there is the possibility that the GOP blew it, big time, and will pay.

“…Veteran Democratic pollster Stan Greenberg offers up an alternative view. Noting the polls of his own firm and plenty of others, Stan points to signs that, while the Democratic Party’s brand has it’s own issues with favorable-unfavorable and positive-negative gaps (different pollsters test these things in various ways), invariably, the GOP has higher unfavorables and negatives than favorables and positives. Likewise, this applies to comparisons of “Democrats in Congress” and “Republicans in Congress.” It would seem that, in the minds of independents (and to a lesser extent in those of others), Democrats have not covered themselves in glory. The GOP brand has taken on considerably more water.

Greenberg’s theory is that it is not one thing but the combination of factors. In some states, notably in Wisconsin and Ohio, actions by Republican governors and state legislatures pushed way too far. They took positions and pushed policies that looked extreme to many non-ideological independent voters, sometimes rubbing moderate Republicans the wrong way as well. Then there is Washington, where Greenberg argues that Republicans — particularly Budget Chairman Paul Ryan and his budget, nearly universally embraced by fellow party members in Congress — come across as too ideological or too harsh. Finally, there was the overheated rhetoric in the 20 or 21 Republican presidential debates. It was a conversation clearly aimed at the party base but overheard by other voters, who found much of the talk more than a little exotic for their tastes. Each of the eight GOP presidential contenders, in an August debate sponsored by Fox News, said they would not go along with a budget proposal that included $10 in spending cuts for every $1 of tax increases. Positioning that far to the right is way too out there for most independent voters, who respond well to the suggestions of balanced approaches to deficit reduction.

While I don’t buy into Greenberg’s argument of a potential Democratic wave, if any kind of partisan wave is likely to develop — barring some cataclysmic political, military, or economic development at home or abroad — it sure seems more likely to break in favor of the Democrats, as he’s suggesting, as a result of a backlash against Republicans going too far to the right. I don’t yet see signs that the Republicans’ obsession with their conservative base has reached a tipping point that will create a Democratic wave. But if I were a Republican leader, I’d at least consider the possibility….”

If Romney can’t pull money out of Utah and DC, he’s toast.

“...In 2008, checks from ZIP codes beginning with 200 ran to more than $2.4 million through March of that year. This time, giving has cratered, falling by half. The drop is steepest in affluent Northwest D.C. Giving has slumped almost $230,000 from the Georgetown/Foxhall section of the city. It’s down an additional $210,000 in 20016, the part of the city that includes the Palisades and American University. Dupont Circle, which gave more than $150,000 to the field in 2008, has offered just $50,000 this time. Washington fields a set of donors more strategic than most, area bundlers said, so the stalling effects of the back-and-forth GOP primary were keenly felt here.

Blowout fundraising from Salt Lake City seemed like a certainty with Romney and Jon Huntsman duking it out for the Republican Party’s presidential nod.But despite the presence of two Mormon candidates with deep Utah ties — Romney saved the city’s Olympics; Huntsman served as governor — giving from ZIP codes beginning with 840 and 841, a region that runs from the city’s core to the Park City slopes, is off by one-third this cycle. Checks from the area ran to $3.25 million through March, down from $4.9 million the cycle before.

Area fundraisers said the recession tightened belts around Salt Lake — long a B-list destination for national fundraising — and that the city’s 2008 performance, in part driven by Romney’s historic Mormon candidacy, was almost impossible to beat. “[2008] blew everyone out of the water,” said one longtime Republican operative in Salt Lake City. “I looked at that number and said, ‘You’ve got to be kidding me.’ I didn’t think there was that much money there.”…”

I think we’re screwed.  Why?

THIS is a disaster in the making.

Huffington Post