Those lazy, shiftless, non-productive rich people

When countries (and, as we have seen, states) raise taxes on “the rich,” the rich have been escaping to jurisdictions with lower taxes.  Thus, ever since Maryland has increased taxes on its wealthiest citizens, those citizens have been moving to lower-tax Virginia.  The co-founder of Facebook has renounced his American citizenship and is now a citizen of Singapore.  This is happening in other countries as well.

So our Secretary of State Hillary Clinton is calling on all countries to raise taxes on the rich so as to give them no place to hide.  From The Motley Fool‘s Rich Smith:

A rich guy can always decide to “pull a Facebook” — follow in the footsteps of Facebook (FB) co-founder Eduardo Saverin, renounce U.S. citizenship, and fly away to someplace with a more lenient tax code. (It’s not just U.S. citizens going this route, either. Last month, Bernard Arnault, France’s richest man and the CEO of luxury-goods maker LVMH, responded to French plans to hike taxes on the rich by emigrating and seeking Belgian citizenship.)

Enter Secretary Clinton, with a novel solution to the problem: Tax everyone, everywhere, and especially the rich.

Clinton first floated her proposal at the Clinton Global Initiative conclave in New York last month: “It is a fact that the elites in every country are making money. There are rich people everywhere, and yet they do not contribute to the growth of their own countries.”

So far, mainstream commentary on the speech has painted it as a simple expression of the American-centric worldview: We think raising taxes on our richest 1% is a pretty keen idea, and you other countries should, too.

But there may be something more subtle afoot. The real purpose behind Clinton’s salvo could be to send a shot across the bow of would-be Saverin and Arnault imitators: If you think you can avoid higher taxes by simply switching citizenship, think again.

via Hillary Clinton Wants to Tax the Rich — Here, There and Everywhere – DailyFinance.

I don’t understand this part:  “There are rich people everywhere, and yet they do not contribute to the growth of their own countries.”  Really, Hillary?  Rich people do not contribute to the growth of their countries?  You think the only way countries can grow is for the government to rake in more taxes?  You don’t think economic growth has anything to do with people having money?  But if you do believe the rich are such shiftless, lazy freeloaders why should any country want them to stay around?  (Notice how some liberals look at the rich the same way some conservatives look at the poor!)

Obama vs. Clintons

A feud is erupting between President Obama and Bill & Hillary Clinton.  As we saw during the Vice Presidential debate, the Obama administration is trying to blame the debacle in Libya on our intelligence agencies and the State Department.  Bill, having given Obama a big boost with his convention speech, is furious that Obama is trying to throw Hillary under the bus.  An account of the feud and what it might do from Tony Lee:

A nasty rift has opened up between President Barack Obama, former President Bill Clinton, and Secretary of State Hillary Clinton over the fallout from the terrorist attacks on the U.S. consulate in Libya that killed Ambassador Chris Stevens. This feud may undermine and threaten Obama’s reelection chances.

Obama and Clinton both do not want to be held responsible for the negligence before and the cover-up after the Libya attacks. Clinton biographer Ed Klein on Friday reported that Bill Clinton, sensing Obama’s political team wants to pin legal and political blame on the State Department and Hillary Clinton, has been working on doomsday and contingency scenarios “to avoid having Benghazi become a stain on her political fortunes should she decide to run for president in 2016.”

“If relations between Obama’s White House and Hillary’s State Department rupture publicly over the growing Benghazi scandal, that could damage the Democratic ticket and dim Obama’s chances for re-election,” Klein writes.

According to Klein’s sources, Bill Clinton has assembled an informal legal team in case there are cables or other evidence that would legally implicate Hillary. Klein also told The Daily Caller that Bill has even considered advising Hillary to resign if the Obama administration tries to make her the “scapegoat.”

On Friday, there were signs the White House was preparing to do to throw Hillary Clinton and the State Department under the bus.

White House press secretary Jay Carney, when asked if Obama and Biden had “never been briefed” about the fact that more security was needed in Libya, essentially blamed the State Department, saying, “matters of security personnel are appropriately discussed and decided upon at the State Department by those responsible for it.”

Carney repeated a variation of this line throughout the press briefing.

Carney’s comments came a day after Vice President Joe Biden not only contradicted State Department officials but himself threw the intelligence community under the bus when he said the Obama administration did not know U.S. interests in Libya needed more security before the attacks and that the intelligence community changed its story after. . . .

Klein writes that the long-simmering feud between Obama and the Clintons has only gotten worse after the Democratic National Convention. The bad blood between Obama and the Clinton family dates back to the 2008 Democratic primary, and Obama’s advisers had to convince Obama to give Clinton a prominent role at the convention.

Klein writes “the latest quarrel began when Clinton heard that Obama was behaving so cocky about his first debate against Mitt Romney that he wasn’t taking his debate prep seriously.”

Clinton offered to give Obama some advice, and Obama brushed him off.

Klein writes “the former president was dumbfounded that Obama had ignored his offer, and his hurt feelings quickly boiled over into anger.”

“Bill thought that he and Obama were on friendly terms after the convention,” a source told Klein. “He couldn’t believe that the White House didn’t even extend him the courtesy of a return phone call. He concluded that Obama’s arrogance knows no bounds.”

There is no love lost between Obama and the Clintons, and they could mutually destroy their political futures in the days ahead. Team Obama could destroy Hillary Clinton’s 2016 prospects by scapegoating her for the Libya attacks. But Hillary Clinton, by potentially resigning or pointing to evidence that implicates Obama and Biden, can just as easily torpedo Obama’s chances at getting reelected.

via Libya Fallout Gives Rise to Obama-Clinton Feud.

Look for this to come out in some way in tomorrow’s presidential debate, which is supposed to focus on foreign policy.

So who won the VP debate?

Be sure to read our live blog of the Vice Presidential debate, below.  We’ve got some good punditry here.  Who do you think won the debate?   Will this turn the tide back to Obama, keep up Romney’s new momentum, have no effect, or what?

Live blogging the VP debate

As we watch and comment upon the Vice Presidential debate, let’s add a drinking game.  Everyone have at hand a beverage of your choice.  (I recommend WATER.  Anything alcoholic and you might not make it to the closing statements.  Anything caffeinated and you may not get to sleep tonight.  Remember that you have to get up in the morning.)  Every time you hear one of the candidates say the following words, take a drink:

(1)  47%

(2)  $5 trillion

(3)  Big Bird

OK.  Let’s get started.  Make your comments as the debate goes along and I’ll do the same.  (Remember to keep refreshing the page so you can follow the thread.)  Gentlemen, start your engines.

 

 

 

The Vice Presidential debate

Tonight is the Vice Presidential debate between Republican Paul Ryan and Democratic incumbent Joe Biden.  Shall we live blog it, as we did with the first presidential debate?  Meet here at 9:00 ET.   I’ll start a new post for that.

In the meantime, we can talk about the upcoming debate here.  Will what the vice presidential candidates do in the debate matter?  We can expect Vice President Biden to learn from his boss’s lethargic performance and come out swinging.  But that is not always a pretty sight, especially from someone as gaffe-prone as Biden is.  Ryan is relatively untried on such a big stage.  He reportedly can get wonky, which may or may not play well.  What are your predictions?

How illegal immigrants inflate the electoral college

Illegal immigrants and other non-citizens don’t have the right to vote, of course.  But, as required by the Constitution, they ARE counted in the census that determines the population of states for the allocation of congressional representatives.  That means a state with large numbers of non-citizens can get more electoral votes, which determine presidential elections, than it would have otherwise.  The breakdown favors the Democrats.  Leonard Steinhorn, a professor at American University, gives the analysis:

An Obama victory could hinge on a quirk in the Constitution that gives noncitizens, a group that includes illegal immigrants and legal permanent residents, a say in electing the president of the United States.

As required by Article I and the Fourteenth Amendment, the decennial census, which allocates to each state its congressional seats and Electoral College votes, is based on a count of all people who live in the United States, citizens and noncitizens alike — or as the Constitution phrases it, “the whole number of persons in each state.” That means millions of noncitizens who are ineligible to vote are included in Electoral College calculations, and that benefits some states over others. Most of these noncitizens are here legally; however, the Pew Hispanic Center estimates that about 45 percent of noncitizens are undocumented immigrants.

In 2010 and most previous years, the census did not inquire about citizenship, but the American Community Survey (ACS), which samples our population every month, includes a breakdown of citizens and noncitizens. Plugging the 2010 ACS citizen-only numbers into the Census Bureau’s apportionment formula shows that five states benefit electorally from their noncitizen populations: New York, Florida and Washington each gain one congressional seat and thus one Electoral College vote; Texas gains two; and California — with 5,516,920 noncitizens out of a total population of 37,341,989 — gains five.

Pennsylvania, Ohio, Michigan, North Carolina, Indiana, Iowa, Missouri, Louisiana, Oklahoma and Montana each lose a seat under the official formula as compared with an apportionment that counts citizens only. . . .

Looking at how the states might vote in November, there is no scenario in which Mitt Romney benefits from the inclusion of noncitizens in the Electoral College calculation, but there are several in which Obama could gain three to five Electoral College votes, thus deciding a close election.

via Without voting, noncitizens could swing the election for Obama – The Washington Post.

Prof. Steinhorn gives some reasons why it makes sense to count everybody, citizen or not, though he says the impact on presidential elections needs to be remedied by eliminating the electoral college.

Do you have any other solutions?  Or is this not really a problem?


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