Aug 21, 2012, 11:11 am EST
Medicare is one of the best run government programs. Its overhead costs are low compared to any and all private insurance plans. Any switch to private insurance in any form would thus increase the costs. Regardless of how the program is paid, the increased costs would hit the Seniors in one form or another. Medicare ain’t broke, don’t fix it.
What needs fixed is the tax code and some fairness brought into the picture. If someone making $100,000 is paying 20% tax, then someone making $10 Million should also pay a minimum of 20% tax, regardless of the source of income. All politics aside, such a global view of tax code will fix what ails the economy.
— Ash Marwah, Pittsburgh, PA Read
Aug 21, 2012, 10:19 am EST
The Barack Obama campaign announced today that it was launching a new website to promote the president’s student loan program.
The web site focuses on Obama’s “Pay As You Earn” program, which would cap federal student loan payments to 10% of discretionary income. The web site features a calculator which allows students to see how much their loan payments would be under the plan.
The plan is part of a series of initiatives Obama launched last October designed to get business done that he felt was important, without having to work with a difficult and unpopular Congress. It also follows Obama’s signature on a bill last month that kept student loan rates at 3.4%. Read
Aug 20, 2012, 12:18 pm EST
Missouri Congressman and current Republican Senate candidate Todd Akin set off a firestorm yesterday when he said women’s bodies can prevent pregnancy in the case of “legitimate rape” and that pregnancies from rapes were rare.
Akin’s gaffe looms large for the November elections, since he is running against vulnerable Democrat Claire McCaskill for that Senate seat. She narrowly won her seat in 2006, and polls conducted prior to Akin’s comments showed him with a comfortable lead that was continuing to grow. Many pundits have said McCaskill’s seat is the most vulnerable one that Democrats currently hold.
Akin’s comments brought swift condemnation from all sides, including Republican presidential candidate Mitt Romney. According to the Romney campaign, “Gov. Romney and Congressman (Paul) Ryan disagree with Mr. Akin’s statement, and a Romney-Ryan administration would not oppose abortion in instances of rape.” McCaskill called the comments “offensive”, and said “It is beyond comprehension that someone can be so ignorant about the emotional and physical trauma brought on by rape.” Read
Aug 20, 2012, 9:46 am EST
Not long after the Mitt Romney and Barack Obama camps sparred over the release of more of Romney’s tax returns, Republican vice presidential nominee Paul Ryan released his own tax returns.
These returns reveal that Ryan paid a higher effective tax rate on his income than Romney did over those two years. In 2010, Ryan paid an effective rate of 15.9%, earning $215,417 and paying $34,233 in taxes. In 2011, Ryan’s rate rose to 20%, with taxes of $64,7664 on income of $323,416.
Romney, by comparison, paid a 13.9% tax rate in 2010 and expected to pay a 15.4% rate in 2011. In 2010, Romney and his wife reported $21.7 million in income. In 2011, the Romneys earned $20.9 million. Read
Aug 20, 2012, 8:30 am EST
Gallup revealed last week that the expected bounce in popularity of the Republican ticket thanks to the addition of Paul Ryan as Mitt Romney’s running mate failed to materialize. Americans yawned at the news.
Ryan, whose budget plan the Los Angeles Times has said will destroy the middle class, should make certain companies apprehensive about the prospects of Ryan in the White House. Let’s take a look:
Ryan’s major platform is widening the tax base. I think we all can agree on this basic premise. However, the way in which he intends to do this is a big concern. Read
Aug 17, 2012, 12:07 pm EST
Republican presidential candidate Mitt Romney has refused a deal by President Barack Obama in which the Obama campaign would request no more tax returns from Romney if he released his last five years of returns.
Romney’s campaign said Obama’s deal was nothing more than a political ploy. In a response to the offer from Obama’s campaign manager, Jim Messina, Romney’s own campaign manager Matt Rhoades had the following to say:
“It is clear that President Obama wants nothing more than to talk about Governor Romney’s tax returns instead of the issues that matter to voters, like putting Americans back to work, fixing the economy and reining in spending.” Read