Romney considers Bain Capital one of those “small businesses” that needs more tax cuts

Just so we’re all clear on exactly what Mitt Romney means when he talks about “small business.”

“Our party has been focused on big business too long. I came through small business. I understand how hard it is to start a small business.” — Mitt Romney, last night’s presidential debate.

Morning Bunker Report: Thursday 6.14.2012


“With how he treated me, is that how he’s going to treat others? You know, if he gets in office is he going to be that way to us little people?” — Dianne Bauer, owner of the Main Street Diner in Council Bluffs, Iowa, regarding Mitt Romney’s use of her diner for a campaign stop (The answer is YES, Dianne, of course that’s how he treats the little people who aren’t immediately being used as a photo-op. lol)

Mitt the Mormon — The uptick in anti-Mormon voter attitudes may come as a surprise to those who predicted Romney’s candidacy would have a mainstreaming effect on his faith. But as University of Sydney scholar David Smith, the paper’s author, writes, just as President Obama’s successful candidacy didn’t put an end to tense race relations in America, Romney’s political assent hasn’t cured the country of anti-Mormonism. In fact, as the data shows, Romney’s rise may have led to increased anxiety about his religion among his natural political opponents. […] Strikingly, the correlation between attitudes about Mormonism and support for Romney is even stronger than political ideology or party identification. Perhaps most potentially distressing to Romney’s campaign is the study’s finding that conservatives who said they were less likely to vote for a Mormon were much more likely to say they were undecided or would not vote at all in a contest between Obama and Romney. Pundits have been predicting for months that anti-Mormon Republicans would stay home in November; this study reaffirms that idea. – Buzzfeed

Romney tells CEOs they deserve more tax cuts, deregulation, and warm tongue baths from DC – Preaching to the converted on lower taxes and less regulation, Republican Mitt Romney courted more than 100 of America’s top chief executives Wednesday demanding government be an ally of enterprise, “not the enemy. Government has to be the partner, the friend, the ally, the supporter of enterprise — not the enemy,” Romney told a gathering of the Business Roundtable, a grouping of executives of leading US firms with some $6 trillion in annual revenue. “Too often, you find yourself facing a government that looks at you like you’re the bad guys,” he said in a 20-minute speech before going into a closed-door discussion with his audience. “I want to change the attitude (in Washington) and encourage the growth of enterprise in this country.”Raw Story

  • Romney Endorses Massive Corporate Tax Giveaway That Failed To Create Jobs In The Past – [At the same CEO roundtable, Romney] called for the repeal of the tax on corporate profits that is levied when those profits are returned (repatriated) to America. Repealing the tax, Romney said, would drive investment in the United States and spur job creation. In the past, however, temporary tax holidays for profits stored overseas have not led to the job creation that proponents promised. Instead of creating jobs, companies used a 2004 repatriation tax holiday to line their executives’ pockets, paying stock dividends and buying back shares. The holiday “didn’t accomplish the stated goals of bringing jobs and investment to the US,” according to former member of President Bush’s Council on Economic Advisers. –  Think Progress

image: 1percenthole

Adelson give $10 million to Romney Super PAC – Casino mogul Sheldon Adelson, who helped keep Newt Gingrich’s failed presidential campaign alive during the GOP primaries, is giving $10 million to a super PAC supporting Mitt Romney, the Wall Street Journal reports. The $10 million donation to the super PAC Restore Our Future appears to be the largest single donation toward Romney’s efforts so far.  – Political Wire

The rise of the megadonors (the end of democracy) –The Adelsons are hardly the only ones taking advantage of the post-Citizens-United free-for-all. But they are blowing all other donors away: Their spending exceeds that of the next six biggest donors. (So far, most major donors are also supporting conservative super-PACs, which are outspending their liberal counterparts by a factor of 7 to 1.) – Mother Jones

John McCain Haz a Sad – Sen. John McCain (R-AZ) told The Hill that President Obama never made a sincere effort to reach out to him after the 2008 election. He wants us to know he’s not bitter, though – not even a little bit.

How they cheat to win in Michigan – Michigan Republicans passed three bills yesterday to make voting harder. In particular, the legislation makes it harder to run a voter-registration drive. As has been their custom this year, House Republicans passed the legislation under immediate effect over the objections of the minority Democrats. That means the legislation could become law this year instead of waiting until 2013. – Maddow Blog


“I am telling you, I want you all to pay attention over the next five months and see if they’re offering a single thing that they did not try when they were in charge, because you won’t see it.”President Obama

image: randomactsofchaos

A lampoon of Mitt Romney, by Mitt Romney: “Out of touch” – the video features a highlight reel of the Republican’s gaffes,  a collection of Romney’s missteps, including such comments as “corporations are people,” “I like being able to fire people,” and “I’m also unemployed.”

Sen. Sanders blasts conflicts of interest at the Federal Reserve – Sen. Bernie Sanders on Wednesday explained the importance of ending conflicts of interest at the Federal Reserve, [such as with] Jamie Dimon, the CEO and chairman of JPMorgan Chase, serv[ing] on the New York Fed’s board of directors. “The idea that we don’t have a Fed which is sitting there with knowledgeable, intelligent people who are fighting for the middle class and working families and not just for the profits of the large financial institutions — I mean, to me, that’s just a very simple reform,” Sanders said on Current TV’s Viewpoint. “But at the end of the day, if we are serious about trying to rebuild the middle class of this country, rebuild our manufacturing sector, et cetera, no question we need real Wall Street reform. To get Wall Street reform, we need Fed reform. To get Fed reform, we’ve got to get the bankers off of the regional Feds.” Sanders has introduced the Federal Reserve Independence Act to prohibit banking industry executives from serving as Fed directors. – Raw Story

Millions of old people are benefitting from Obamacare but are voting for Romney anyway – A Centers for Medicare and Medicaid Services study determined that senior citizens more than any other demographic group of Americans benefit from Obamacare. The law hasn’t even really kicked in fully and yet 14.3 million senior citizens have benefitted from the law’s preventative care provisions. In other words, millions of old people have received free preventative care via Medicare that they wouldn’t have received if Obamacare hadn’t been passed. And so they’re going to vote for the guy who wants to repeal the law. – Bob Cesca

  • CBO Director: Romney’s claim is nonsense — Mitt Romney and many other Republicans commonly claim that President Obama’s health care law is already harming small businesses in the U.S. …Doug Elmendorf, director of the Congressional Budget Office, called that nonsense. “We don’t think that the health care law is having a significant impact on the economy today,” Elmendorf told reporters at a Christian Science Monitor breakfast roundtable Wednesday.  – TPM
  • More Romney nonsense: Obamacare made a small business in Iowa close — Mitt Romney has debuted a new talking point on the campaign trail, arguing Obama is out of touch with the negative impact Obamacare is having on small businesses. …Romney’s claim is based on a local interview Obama gave in Iowa, in which the president was told by a reporter that a local company had closed and was moving jobs to Wisconsin because of Obamacare. [...] It turns out that the company didn’t close because of Obamacare at all, according to a company spokesperson. What’s more, the company sees lack of demand as the key problem — a lack of demand that is partly due to the drive to repeal or modify Obamacare, not to the implementation of the law itself. [...] “We never said health care reform is the reason we’re closing and consolidating that operation,” Schurman said. “We never said it’s the result of the health care reform legislation.” – Greg Sargent

Senate Republicans introduce bill to block Obama Admin’s rule allowing home health workers to earn minimum wage – The Obama administration last year introduced a rule that would extend minimum wage protections to home health workers who, up to that point, had received no guarantee of a livable wage or fair overtime pay. But Senate Republicans are attempting to block the rule from going into effect:  A group of Republican senators on Thursday introduced legislation aimed at blocking the Obama administration’s controversial efforts to extend minimum wage and overtime protections to 2 million in-home care providers through Department of Labor regulations  Think Progress

Both President Obama and Mitt Romney will deliver economic speeches in Ohio today. – Associated Press

#OccupyWallStreet: Republican rhetoric vs. actual data: small business and job creation

Tax hikes and jobs: The whole story

It’s a ubiquitous Republican talking point: Congress must keep the top two rates at 33% and 35% — instead of 36% and 39.6% as President Obama wants.

The argument: Many small businesses file taxes under the individual tax code.

But while that argument makes for a good bumper sticker, it’s a misleading simplification of a complex policy issue.

“The Republican claim that this is a tax increase on a large fraction of employers is just not true,” said Howard Gleckman, a resident fellow at the Urban Institute.

In sharp contrast to the rhetoric, current data suggest:

1) small businesses don’t create an outsized number of jobs,
2) very few small business owners fall into the top two tax brackets, and
3) tax cuts for small businesses are ineffective stimulus measures.

(via: ryking)

If you honestly think the Republican party and the wealthiest Americans are concerned about most “small business owners” or “job creation” for the peasantry when they refuse to raise the tax rate on the 1%, then you have NOT been paying attention.

Chuck Schumer proposes ending tax cuts to millionaires only — the GOP says, “No way.”

“All animals are equal but some animals are more equal than others.” — George Orwell, Animal Farm, 1946

Republicans from across the conservative spectrum are swatting down a proposal from Democrat Chuck Schumer to resolve the tax cut dispute by ending tax cuts to millionaires only.

“The answer is no,” said Sen. John Thune (R-SC) — the fourth ranking Republican in the Senate — on Fox News last night. “What you want to do if you believe the best ways to grow jobs and to grow the economy in this country is to keep taxes low and to allow small businesses…to get out and do that, then the worst thing you can do is raise taxes on them, which, if you raise them on those higher-income levels is what happens.

[...] In any case, if it was Schumer’s goal to get Republicans on the record defending tax breaks for millionaires, he got his way.

Read more: Republicans Defend Continued Tax Breaks For Millionaires

Republicans continue this fictional argument that ending tax cuts to millionaires will hurt “job creation” and “small businesses.” Yeah,  I can see how we’d miss ALL THOSE JOBS the top income earners have created for us over the past 9 years. And, sorry, but only about 2% of small business owners would see tax increases if Bush’s tax cuts were to expire.

Also, here’s where the GOP lines up when it comes to the middle class:  GOP’s Top Tax Guy: Republicans Will Block Permanent Middle-Class Tax Cut.

As Bill Maher said about all the non-millionaires who voted for Republicans in the last election: “People are struggling all over this country and they came out and voted for the party that says right out front that they will suspend your unemployment benefits and repeal healthcare. To go against your self-interest more, you’d have to literally go fuck yourself.”


Six-Week Summer Strategy


Via HuffPo:

In a six-week, phased messaging campaign, Democrats will continue to hammer the Republican agenda as one that seeks a return to failed Bush-era policies, as well as pressure the GOP to provide more concrete details of specific agenda points and how they would work.

The Hill reports: Democrats will highlight a specific theme each week of the recess:

  1. First week: “Make it in America” manufacturing initiative, followed by
  2. Social Security,
  3. consumer protection,
  4. small businesses,
  5. troops and veterans,
  6. and jobs and the economy.

The party is trying to brand its agenda as one centered around “fighting for the middle class.”


Obama: I don’t want to hear that BP is ‘nickel-and-diming’ people in the Gulf. “I am furious”

President Obama: June 4, 2010:


“But I want BP to be very clear, they’ve got moral and legal obligations here in the Gulf for the damage that has been done. And what I don’t want to hear is, when they’re spending that kind of money on their shareholders and spending that kind of money on TV advertising, that they’re nickel-and-diming fishermen or small businesses here in the Gulf who are having a hard time.”

Speaking from Grand Isle, Louisiana this morning


The President discusses the hardships local residents and small business owners are facing as a result of the BP oil spill. He pledges to make sure those responsible do not shortchange them. [Whitehouse]

********** UPDATE: Obama on Larry King: “I am furious”

KING: Some — I know you — you appear so calm.

Are you angry at BP?

OBAMA: You know, I am furious at this entire situation, because this is an example of where somebody didn’t think through the consequences of their actions. And it is imperiling not just a handful of people, this is — this is imperiling an entire way of life and an entire region for, potentially, years. So…

KING: Has the company felt your anger?

OBAMA: Well, they have felt the anger. But what I haven’t seen as much as I’d like is the kind of rapid response.

Now, they want to solve the problem, too, because this is cost — costing them a lot of money. And the one thing that I think is important to underscore is that I would love to just spend a lot of my time venting and yelling at people. But that’s not the job I was hired to do. My job is to solve this problem. And, ultimately, this isn’t about me and how angry I am. Ultimately, this is about the people down in the Gulf who are being impacted and what am I doing to make sure that they’re able to salvage their way of life?