Category Archives: Money

Scott thinks F-35 pretty cool after ‘flying’ it

Remember that previous post about the dog-and-pony show up in North Carolina, the one that was to allow reporters to check out an F-35 simulator?

Well, Lockheed had another one on USS Yorktown in Charleston, and they managed to wow Rep. Tim Scott:

U.S. REP. TIM SCOTT FLIES F-35 COCKPIT DEMONSTRATOR DURING USS YORKTOWN VISIT

F-35 will serve as a cornerstone of global security and create South Carolina jobs

CHARLESTON, S.C., October 18 – U.S. Rep. Tim Scott, (R-S.C.), today joined local elected officials and community leaders on the USS Yorktown at Patriots Point Naval and Maritime Museum to receive an update on the Lockheed Martin [NYSE: LMT] F-35 Lightning II program and hear about its contribution to South Carolina, national security, and the U.S. economy.

During his visit, Scott “flew” the F-35 cockpit demonstrator to experience firsthand how advanced stealth, fighter agility and integrated information systems make the F-35 the most capable multi-role fighter in the world. The cockpit is visually and audibly interactive and provides a realistic look at the F- 35’s performance, air-to-air and air-to-ground capabilities, sophisticated sensor fusion and advanced computational capabilities.

“Coming from a military family, I understand and appreciate that American men and women serving in uniform deserve the best technology that this nation can provide. Those that threaten our country are evolving everyday, and it is essential we stay ahead of them.” Scott said. “There is no doubt the fifth generation, multi-role F-35 Lightning II’s ability to defeat sophisticated surface-to-air missiles and enemy fighters in the air and on the ground will allow us to do just that.

“Our military leadership associated with Beaufort Air Station, McEntire Joint National Guard Base, and Shaw Air Force Base has told me clearly and convincingly that these capabilities are critical to defending our freedoms,” Scott added.

Lockheed officials noted that even at its current low rate of production, the F-35 program supports a broad industrial base of more than 1,300 suppliers in 45 states, contributing to more than 133,000 direct and indirect U.S. jobs and over $17.7 billion in direct and indirect annual economic impact. Those numbers are expected to grow as the program ramps up to full rate production over the next few years.

In South Carolina, the F-35 program generates nearly 123 jobs and more than $5 million annually in direct and indirect economic impact. Currently, there are four South Carolina companies supporting the program.

The F-35 is a supersonic multi-role fighter designed to replace a wide range of aging fighter and strike aircraft. Three variants derived from a common design will ensure the F-35 achieves its security mission while staying within strict affordability targets.

Lockheed Martin is developing the F-35 in conjunction with its principal partners, Northrop Grumman [NYSE: NOC] and BAE Systems, and Pratt & Whitney. Among the aircraft F-35 will replace are the A- 10, AV-8B Harrier, F-16, F/A-18, and the United Kingdom’s Harrier GR-7 and Sea Harrier.

Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs about 123,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation’s net sales for 2011 were $46.5 billion.

The USS Yorktown was commissioned on April 15, 1943, and was one of the preeminent aircraft carriers to serve in the Pacific theater of operations during World War II. In the 1950’s, Yorktown was modified with the addition of an angled deck to better operate jet aircraft. In 1958, the ship was designated an anti-submarine aircraft carrier, and served admirably during the Vietnam conflict. Yorktown was decommissioned in 1970 and placed in reserve. In 1975, the ship was towed from Bayonne, N.J. to Charleston to become the centerpiece of Patriots Point Naval and Maritime Museum.

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Hey, if I’d had a chance to go try it out, I’d probably think it was pretty cool, too. At a projected $323 billion, this is “the Pentagon’s most expensive weapons program.” In a budget like that, they ought to be able to come up with something better than my old Microsoft Combat Flight Simulator.

SC Senate’s “first-ever serious (ethics) fine”

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In her column Sunday, Cindi Scoppe reported on the SC Senate Ethics Committee’s second public reprimand (the one of Jake Knotts was the first), and “its first-ever serious fine:”

A forgiving law isn’t precisely the problem in the case of Sen. Kent Williams, but his public reprimand points to another significant shortcoming in our ethics and campaign finance law that isn’t getting much attention. Left uncorrected, it could greatly diminish the value of any new reporting requirements the Legislature passes, leaving them dependent on the honesty of the candidates filing the reports.

According to the Senate Ethics Committee, Mr. Williams accepted 15 contributions in excess of the legal maximum of $1,000 for this year’s election. It ordered him to return the extra $12,801 and pay a $5,390.05 fine. The Marion County Democrat, who is running unopposed for his third term, did not contest the charges.

Ten of the illegal contributions were straightforward violations that anyone who looked closely at his campaign reports would have noticed, and probably the result of bad record keeping. But in five cases, Mr. Williams reported that he received two $1,000 checks on the same day from the same donors — one for the 2012 race and one to pay down a 2008 campaign debt — but used all the money for his 2012 campaign. The panel called these “deliberate attempts to mislead the public,” noting that to anyone looking at those reports, “it appears” that the donations were legal.

It’s Mr. Williams’ apparent compliance with the law that makes this case so worrisome. The Ethics Committee discovered the ruse because its attorney noticed that the senator wasn’t reporting enough outstanding debt to justify the repayments; he asked for bank records, which showed the payments hadn’t been made.

It was similar serendipity that led to the reprimand against Mr. Knotts for accepting illegally large donations, misreporting the identities of some donors and not reporting others, and not reporting some expenditures. In that case, it was what appeared to be, but wasn’t, excessive interest income that raised the attorney’s suspicions, leading him to ask for the bank records that revealed unrelated violations…

Cindi suggests random audits to overcome the weakness that the Williams case exposed — that weakness being the assumption that what is put on disclosures is accurate.

Hey, tell me about it…

A creative way to punch a $168 million hole in the ground

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Well, my heart beat a bit faster when I saw this headline on an email:

MEDIA ADVISORY – LOCKHEED MARTIN TO DEMONSTRATE F-35 LIGHTNING II CAPABILITIES AT THE CAROLINAS AVIATION MUSEUM; REPORTERS INVITED TO ‘FLY’ THE F-35

… even though I saw the quote marks around “FLY.”

Sure enough, the release says:

Still. I bet that’s a pretty awesome simulator. Way better than my old copy of Microsoft Combat Flight Simulator that I can’t even get to run on Windows 7.

I have to smile, though, at the come-on, given that there will never come a time, in the history of this planet, when anyone would be insane enough to let a reporter — even one who had once been a jet pilot — actually fly an F-35.

If they did, that would be one quick, albeit creative, way of making a $168 million smoking hole in the ground.

I base that on Wikipedia’s estimate of the per-unit cost of the airplane over the life of the program — which it calls “the most expensive defense program ever.” Which is really saying something.

I don’t know about you, but as my Wichita colleague Dennis Boone used to say of such sums, that’s more than I make in a year.

Guess what? Todd Akin could get elected (and SC’s Donehue Direct is playing a role in that)

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Slatest devoted plenty of virtual ink this morning to indications that the-late-and-unlamented Todd Akin campaign is alive again (cue the “Young Frankenstein” clip”):

FOR REAL THIS TIME: After COB today, Todd Akin’s name is more or less set in stone on the Missouri ballot and will remain there even in the event of his death. But what only a month ago appeared to turn into an unwinnable Senate race for Republicans, now looks likely to go down to the wire.

THE NUMBERS: The latest polling from the Show Me State is about two weeks old, so there is no clear picture of the state of the race. But the last two major surveys (taken the last week of August and the second week of September, respectively) show Democratic Sen. Claire McCaskill with less-than-comfortable leads of 1 percent and 6 percent respectively.

AND THAT WAS BEFORE: A handful of GOP heavyweights jumped back aboard the Akin train. Mike Huckabee is sticking with Akin. Phyllis Schlafly is doing a bus tour for him. The Senate Conservatives Fund, headed by Sen. Jim DeMint, is seeking support from its donors to help Akin. And yesterday, Newt Gingrich went to Missouri to headline a fund-raiser for him. “What’s the moral case for not backing the Republican nominee picked by the people of Missouri?” Gingrich said at the $500-a-plate event…

Now, I’ll add something to that. As you read here earlier, Wesley Donehue was brought on After the Fall to raise money for Akin, a fact that Wesley’s been touting in promotional materials for Donehue Direct (see the image below from an eblast).

I checked this morning, and he says the effort has raised $700,000 and counting.

Politically diverse crowd at Alan Wilson event

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Catching up here…

Friday night, on my way home, I stopped by a fund-raiser for Attorney General Alan Wilson. The promotion for the event said that George Rogers would be there (with his Heisman Trophy, as it turned out), and Todd Ellis as well. I was curious to see what sort of crowd that would turn out.

The crowd wasn’t as big as I’d anticipated, but it was politically diverse, which would seem to indicate that the AG is in a pretty strong position halfway through his term.

I saw plenty of usual suspects, but then a few less-likely attendees as well. A partial list of folks I saw and/or spoke with:

Notice how I sort of kept Cameron and James — particularly James — until the end there, to keep you hanging…

At one point when I was talking to someone else, Todd Ellis came up and introduced himself, and I introduced myself, and he remarked that it had been a long time. Indeed it had. I don’t think I’d met him before, although I could be wrong…

It was too loose; now it’s too tight

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This morning, we closed on a mortgage refinance, which we did partly because of the lower rates, but mainly to consolidate the initial mortgage and a credit line that we opened a number of years back to do some work on our house (hardwood floors, new HVAC, other stuff).

Anyway, the attorney helping us does this sort of thing all the time. (Over the years, we’ve been through this process with him — closing on a house or refinancing — at least three times.) My wife asked whether he’s keeping busy with these low rates.

Not really, he said. Oh, the demand is way up, all right. The thing is, though, about half of the loans aren’t getting approved.

Before, credit was too loose, which got us into trouble. Now, it’s too tight, which makes it harder to get out of the trouble. He said there are those who hoped real estate would lead us out of these hard times. But not at this rate, he suggested.

Just a little glimpse at the economy from a window other than my own, which I thought I’d pass on.

By the way, we had no trouble getting our refinance, through Palmetto Citizens Federal Credit Union. See the ad at right.

Product placement, baby.

‘If you support Chick-fil-A and free enterprise, give money to Joe.’ Say WHAT?

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If you want to know why both sides keep the Culture fires stoked, Joe Wilson makes it clear in this release:

Liberals want to control private industry. Let’s take only the most recent events that have occurred as examples.

First, yesterday was Chick-fil-A Appreciation Day. Why? Because liberals are attacking a private company for using its funds to support the traditional family.

Millions of Americans believe in the traditional family, but Americans also believe in free speech. Chick-fil-A can and should be able to support Christian organizations if it chooses, but liberals won’t be happy until all American businesses toe their liberal line.

Then, we have President Obama telling American business owners that they didn’t build their businesses. Why? Because he wants to tax businesses even more than current tax rates to supply his overspending.

Businesses and all Americans benefit from infrastructure and education. But education and infrastructure do not exist without the taxes from our businesses and our citizens either. Instead of tearing down the ideals of the free market, we should be encouraging entrepreneurs and other business owners to hire, grow, expand, and innovate. Because when businesses grow, our roads, our bridges, our students, and all Americans benefit.

So what are liberals telling us? Don’t stand up for what you believe in. Don’t try to take credit for your hard work. That’s apparently the American value system that liberals want, but I reject.

If you reject it too, click here to stand with me against liberals’ disappointing agenda and donate $10, $25 or $50 now.

Sincerely,

Joe Wilson

P.S. We must fight for our businesses and our values.Donate $25 now to the campaign because I will continue to stand for jobs and freedom.

It’s all about separating you from your money. It’s difficult for me to believe that anyone in this universe is foolish enough to think that the way to show support for Chick-fil-A is to send money to Joe Wilson, but apparently this sort of thing works, because both sides keep doing it.

Show the man we’re serious, little guy!

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"And there are no penalties for paying it off early, right?

I had an appointment this morning with a man at Palmetto Citizens to talk about refinancing the house, seeing as how interest rates are about half what we’ve been paying. (There’s no time like the present, folks — see the ad at right.)

So my wife walked me through all the documents she had gathered in preparation, and I nodded, and eventually said, slightly hyperbolically, “You realize I don’t understand any of this,” and she said she knew — but she had to be at my son’s house this morning taking care of our grandson.

In the end, she decided to bring him to the meeting. I could have handled it, you understand. I understood the broad concepts, and knew that we were shooting for a number that would enable us to wrap together the basic mortgage and our home equity loan into one payment that was sufficiently lower than our total now that we can still pay it off, via overpayments, in five more years — which is when we’d be done with our current 15-year mortgage. I had, after all, suggested we do this. Actually, I meant that I wanted her to do it, but you know what I mean.

I had the bundles of documents, and the numbers written out in front of me, and was all set. Except that she and I both felt better with her there, and doing the talking, while I rocked my grandson’s carryall back and forth, and jiggled my keys in front of him.

But I tried to act like I was following the proceedings, with a fixed look of concentration on my face — just like our little guy in this picture taken during the meeting. We were a team, and together we got through it, and it’s looking good…

How do YOU define “middle class”?

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Today, I went over to AARP’s local office to participate in a discussion about the future of the Social Security system. More about that later.

I just wanted to focus on one thing we didn’t really talk about.

Before our local group started interacting, we watched a video feed being broadcast to groups like ours at AARP affiliates across the country, which featured two experts who pretty much represented the expected “liberal” and “conservative” sides of the issue. They fielded questions from groups like our across the country.

At one point, they were asked to give their definition of “middle class.” Neither of them did, in simple terms, although both were eager to assert that their respective plans would benefit said class.

I don’t blame them. Middle class is a state of mind to a great extent, and as one of the experts noted, it’s hard to find any American who does not think he is middle class, however low or high his income. And of course, assets other than income play into any assessment of economic class.

But… in order to kick off a discussion, I’m just going to pick a couple of numbers and throw them out, and let y’all tell me how wrong I am and why.

I hereby proclaim that one is “middle class” if one’s household income is between:

$50,000

and

$150,000

I’m sure lots of people who make less than 50k will assert they are card-carrying members of the gray hordes of suburbia, but we have to make room for the underclass and working class somewhere, and I’m just going to say that working class ends and middle class starts at 50k. Perhaps higher. And with today’s prices, that pretty much means you are just hanging on to your bourgeois status by your fingernails.

Plenty of arguments could be offered for raising the upper limit as well. For instance, is a person who makes 100k still middle class? I’d say yes. So if a couple each make 100k, would they not be a middle-class couple making a household income of 200k? Sure, you could say that, but for the purposes of this discussion, you have to draw the line somewhere, and I’m drawing it at 150k.

Does that mean I think you’re “rich” if you make more than that? No. I think there’s a broad territory between middle class and “rich.” A place where people are comfortable, but they’d better not kick back, or they could still lose it all.

Of course, all of this is fuzzy. You could have $50 million in assets, but just be making $100k — or even $10k, or not a thin dime– in additional wealth per year, and you’d still be rich.

But given the obvious shortcomings of any definition of class based purely on income, what do you think?

Just once, it would be nice to be able to respect one of this governor’s vetoes

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2008 file photo

Cases could probably be made for some of Nikki Haley’s vetoes, but she doesn’t offer them. With each news story I read about yet another veto, I wait for her argument — and it never comes.

For instance, here’s what was offered instead of an actual reason for vetoing the Governor’s Schools:

“All of these are good things, but if we’re going to lead and take South Carolina to a new place, we’ve got to take the emotion out of it,” she said Thursday. “How can we handle these things smarter? To do that sometimes hurts, and to do that sometimes means we wait but we make good decisions in the end.”

You almost get the feeling that she pulled those words out of a dictionary at random. Take emotion out of it? What emotion? “Handle these things smarter?” OK, in what way? Just give us one of your smarter ideas. That would be helpful. Give us just one example of what a “good decision” might look like, by your lights. If you can.

But it increasingly appears that she can’t. These vetoes aren’t intended for analysis; they’re intended to appeal to gut impulses within her base. She vetoes the Arts Commission because it’s the closest she can get to slapping at the National Endowment for the Arts, which Robert Mapplethorpe put on the map as a favorite whipping boy of the right. (Yes, I know that doesn’t make sense, but with the Snake Flag crowd, things don’t have to make logical sense.)

She vetoes the Governor’s Schools because, I don’t know: Maybe some of those kids will grow up to be supporters of the Arts Commission. Maybe she figures none of her most ardent supporters have kids who go to the Governor’s Schools. Maybe she’s right.

(Disclosure: Two of my children attended the governor’s schools — one the one for science and math, the other the one for arts and humanities — but neither chose to stay there until graduation.)

I’d feel better about it if she would explain precisely what she wanted to do with the money instead, and why. I might argue with it, but I could respect her more.

As it is, I’m just sick and tired of hearing about her little gestures of pointless destruction. I’ve never been a fan of nihilism.

Beth Bernstein touts 2nd quarter fund-raising

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Just got this from House candidate Beth Bernstein:

Beth Bernstein, House District 78 candidate, raises over $32,000 in second quarter

Has more than $54,000 on hand

Columbia, SC — Beth Bernstein, candidate for House District 78 against incumbent Rep. Joan Brady, filed her second quarter financial disclosure with over $32,000, bringing her overall fund raising total to just under $70,000.

Bernstein, an attorney and small business owner, released the following statement on her fund raising quarter:

“I am very excited that so many people have invested in my campaign,” Bernstein said. “As a small business owner, attorney, and mother, I decided to run because I was frustrated with the current leadership when nothing gets done. I want to bring back balance to the Statehouse and common sense solutions to state government. As I speak with voters across the District on a daily basis, I hear their frustrations and am motivated more than ever to work on the real issues affecting our everyday lives: education, job growth, and improving our quality of life. My message to the people of this District is: Help is on the way.”

Beth Bernstein, 42, chose to run for the House because of her concern about the direction of South Carolina under the current leadership. She grew up in the District and has chosen to raise her family there. She practices law in her family law firm, Bernstein and Bernstein, LLC, in Columbia. She and her husband, Rip Sanders, are proud parents of Caroline, 8, and Isabel, 3.

For more information, go to www.beth4house.com.

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OK, so maybe you’re not all that impressed with that amount of money raised. But I take note because I’m interested in this race, as one of the very few seriously contested general election legislative races in this part of the state.

Watching from the outside, I expect this one will turn on how voters feel about Joan Brady and the other members of the House Ethics Committee dismissing charges against Nikki Haley not once, but twice. We’ll see.

He don’t know me very well, do he?

My very life is thine, my liege! But $3? I dunno…

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POTUS and I are so close, he knows he can ask me for anything. Even three whole dollars.

The leader of my country, the most powerful man in the world, needs my help! Right now! Time to mount my steed and prepare to lay down my life for the sake of God, country, the girl next door, and Mom’s incomparable apple pie!

Brad —

If you’re with me, then I need you right now.

We’re just days away from the mid-year fundraising deadline — this is the biggest test yet of our commitment to win in 2012. We can’t fall short on this one.

Donate $3 or more right now to elect a Democratic majority in Congress.

Thanks,

Barack

Schwinngg! goeth my sword as I withdraw it, and…

…wait a sec….

Three dollars? That’s what this is about? Three dollars? What kind of cheapskate country is this when our supreme leader himself sends up the Bat Signal to get my attention, and all he wants is three lousy semolians?

I mean, if he wanted a sawbuck, would he land Marine One on my lawn and approach my front door on his knees?

Of course, you’ve guessed by now that this message is not actually from Barack Obama, but from the anonymous [email protected], and this is another one of a certain type of political fund-raising message that is more about getting me (or, if I were some other person perhaps, keeping me) in the habit of giving. In other words, it’s not about the money, it’s about conditioning. Sort of like all those begging emails Joe Wilson sent out asking people to give him money to help defeat the existential threat of Phil Black in the primary earlier this month. It’s not that he needs the money; he just needs you to keep giving.

Yet another of democracies more bizarre aspects.

Back to the days of unlimited, unregulated spending on political campaigns in SC

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Free Times reporter Corey Hutchins really needs to get himself a job at a daily newspaper (before they’re all gone). A weekly publication just doesn’t provide enough outlet for his energy.

Corey calls my attention to another of his freelance pieces, this one for the Center for Public Integrity. It’s about how the rules changed to essentially free up third-party committees to spend whatever they want in SC elections, with no accountability. An excerpt:

In 2010, a little-noticed ruling by U.S. District Court Judge Terry Wooten in Florence, S.C., kicked the regulatory teeth out of a key statute in the state’s campaign finance laws and opened the floodgates for untraceable political spending by many of the groups seeking to influence elections.

The case revolved around a seemingly mundane sliver of minutiae — how the word “committee” is defined under South Carolina law. But the effects of Wooten’s ruling were far-reaching indeed, and that’s likely just how famed conservative lawyer James Bopp — the star of the case — wanted it. In the Palmetto State, suddenly all bets were off when it came to independent expenditures meant to influence elections. And they still are.

“Until we clarify it, it’s the Wild West to a certain extent,” says Wes Hayes, a Republican lawmaker who chairs the S.C. Senate Ethics Committee. “Until we get that clarified we have no law.”

State legislators, ethics regulators and good government groups here haven’t yet been able to put back the pieces — not in last year’s legislative session, and not in the one just finished either.

Unless and until they do, many worry that South Carolina will remain in a state of anarchy in regard to secret money and its effect on campaigns — with a high-stakes election just five months away…

I urge you to go read it. As Corey said in calling attention to it:

Ready to re-live the days of unlimited, untraceable, undisclosed political spending of the video poker barons in the late ’90s?

It’s already happening post primary, and is bound to get worse. This story shows why.

A bad idea (electing judges) gets worse in NC

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The popular election of judges has always been a terrible idea. But now, thanks to Citizens United, it’s worse:

The North Carolina Judicial Coalition is a new tax-exempt organization, known as a super PAC, supported by wealthy conservative Republicans who are determined to make this year’s race for a seat on the North Carolina Supreme Court ideological and expensive.

This kind of influence in judicial elections is a direct result of the Citizens United decision, which allows corporations and unions to make unlimited so-called independent expenditures in campaigns. In adissent in that case, Justice John Paul Stevens predicted that such spending would overwhelm state court races, which would be especially harmful since judges must not only be independent but be seen to be independent as well. North Carolina is proving him right…

The North Carolina Judicial Coalition was set up to re-elect state Justice Paul Newby, who has opposed adoptions by same-sex couples and disallowed a lawsuit challenging alleged predatory lending. He gives conservatives a 4-to-3 advantage over liberals on the State Supreme Court and is being challenged by the more liberal state appellate judge, Sam Ervin IV, a grandson of the senator and son of a federal appeals judge…

Go read the whole editorial. Yep, it was always a bad idea — nothing like picking justices on the basis of Kulturkampf issues — but now it’s expensive, too.

Take a $19 pill and call me in the morning — assuming that you can still afford a phone

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I’d had something like a cold for close on to a month, when it started causing my asthma to kick in. So I went to see my allergist. He suggested that I increase my routine meds that I take for allergies and asthma.

And then, on the off chance that the cause of all this was bacterial and not viral or merely allergies (and probably because I kept insisting that it was more than allergies, and that I was afraid to get near my new grandson), he prescribed an antibiotic. One I hadn’t heard of — Avelox.

“Is it expensive?” I asked.

“Tell you what,” he said, “let me see if I have some samples.”

So he went and rooted around the office, and came back with five individually wrapped pills. And when I say wrapped, I mean each pill was contained in one of those things with plastic on one side and foil on the other (you punch them out through the foil), and then in its own box.

Since it’s a one-a-day thing, that would get me through five days. But he wanted me to take it for 10 days.

So a couple of days later, I went to get it filled, and those five pills cost me $94.62. Which means each pill cost almost 19 dollars ($18.924, to be exact).

This is by no means the most expensive medication either I or a member of my family has taken. It just struck me that here’s something I’m just taking on the off chance that I have something it will help with. We’re not talking cancer or something like that.

In fact, there’s nothing particularly remarkable about a $19 pill today, really. Which is why I thought I’d take note of it. So that somebody 20 years from now can read this and laugh that I thought it was a lot of money. Just as I think how innocent we were in the early 80s, when we marveled that Tagamet cost a dollar a pill.

Oh, here’s the kicker — almost from the hour I took the first one, I’ve been feeling better. A lot better. I’m kind of tired feeling, but the sore throat and coughing and wheezing are gone. So… if you ask me, would I spend $19 a day for five or even 10 days to get over feeling the way I did?… I’d say yes.

But I thought I’d still make note of it.

If Mitt loses election, he also loses $5 million a year

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The AP reports on an additional reason for Mitt Romney to run really, really hard to win this thing:

WASHINGTON (AP) — To see where the presidential candidates stand on taxing the rich, just look at how they’d tax themselves. Under his own proposal, Mitt Romney would pay half what he would under President Barack Obama’s tax plan. For a man of Romney’s means, that could save almost $5 million a year.

For Obama, not as loaded as Romney but still well-off, losing re-election could provide a tax windfall. He’d save as much as $90,000 a year if Romney’s plan were enacted rather than his own tax-the-rich vision.

Two nonprofit research groups, the liberal-leaning Citizens for Tax Justice and conservative-leaning Tax Foundation, did the calculations, based on the most recent completed tax returns released by the candidates. Compared with what they owed in April, both men would be dinged in 2013 under Obama’s proposal, along with other wealthy taxpayers. They could expect savings under Romney, depending on which tax breaks the former Massachusetts governor decides to oppose….

That’s assuming, of course, that paying a lot more in taxes matters to Mitt. It apparently doesn’t to his opponent, but of course, he has less to lose.

If I had Mitt’s fortune, I don’t think it would matter to me. But then, that’s probably because I’m not the kind of guy who was ever motivated go out and amass all those bucks. Chicken or egg thing.

Whose hand is in whose pocket?

Obama sucks! So send me more money!

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Catching up with my email, I’m marveling over this one from Joe Wilson, which takes irrelevant misdirection to a new level. Yes, we know that Nikki Haley got elected governor running against President Obama rather than her actual opponent, but I don’t think anyone has to date produced such a whiplash-inducing change of subject from “Obama sucks!” to “Send me money!” as this one:

Dear Friends,

41% of West Virginia’s Democrats believe that a federal prisoner would make a better president than Barack Obama.

Keith Judd received 69,766 votes Tuesday night in West Virginia’s primary while still serving a 17-year sentence for extortion. Shouldn’t this send a clear message to President Obama that he’s failing the American people?

The President promised to help our economy, but he will not listen to any of the pro-business, pro-competition, pro-free market principles that conservatives have offered.

The President promised to bring change to our country, but his version of change has resulted in restrictions on our American liberties and further partisan divide.

The President promised a lot of things, but he’s been unable to provide the leadership needed.

Americans are tired of the president’s policies. So much that voters say even a jailbird knows more about freedom than Barack Obama.

The choice is clear. In order to get our economy back on track and maintain liberty, we must elect a new president in November.

We must also elect conservative leaders who are willing to stand up for the truth to President Obama or anyone else in office. I will always work to bring economic policies that produce jobs and protect liberties for the people of South Carolina’s Second District. Will you join with me and donate to the campaign today?

Sincerely,

Joe

P.S. If you agree that we need to elect a new president this November, please visit Facebook and Twitter to let me know.

bradwarthen.com

All The News That Gives You Fits

Category Archives: Money

Scott thinks F-35 pretty cool after ‘flying’ it

SC Senate’s “first-ever serious (ethics) fine”

Hey, tell me about it…

A creative way to punch a $168 million hole in the ground

MEDIA ADVISORY – LOCKHEED MARTIN TO DEMONSTRATE F-35 LIGHTNING II CAPABILITIES AT THE CAROLINAS AVIATION MUSEUM; REPORTERS INVITED TO ‘FLY’ THE F-35

Guess what? Todd Akin could get elected (and SC’s Donehue Direct is playing a role in that)

Politically diverse crowd at Alan Wilson event

It was too loose; now it’s too tight

‘If you support Chick-fil-A and free enterprise, give money to Joe.’ Say WHAT?

Show the man we’re serious, little guy!

How do YOU define “middle class”?

$50,000

and

$150,000

Just once, it would be nice to be able to respect one of this governor’s vetoes

Beth Bernstein touts 2nd quarter fund-raising

He don’t know me very well, do he?

My very life is thine, my liege! But $3? I dunno…

Back to the days of unlimited, unregulated spending on political campaigns in SC

A bad idea (electing judges) gets worse in NC

Take a $19 pill and call me in the morning — assuming that you can still afford a phone

If Mitt loses election, he also loses $5 million a year

Whose hand is in whose pocket?

Obama sucks! So send me more money!