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Archive for December 2nd, 2010

  • Control of the House of Representatives after the 2012 elections will still belong to the Republicans. IF Barack Obama stages a political comeback (which is certianly within the realm of possibility), Democrats will start the presidential coattails drumbeat. However, there are two compelling tables in this post underscoring that the House outcome will dance to the beat of a different drummer.

    These two factors will end up having a snowball effect, costing Democrats in retirements, candidate recruitment, and fundraising – all of which will further debilitate their comeback efforts.

    Redistricting due to the census is the most important development.of the 2010 elections

    (tags: GOP)
  • Sarah Palin raised $469,000 between Oct. 13 and Nov. 22 bringing her total for the year to over $3 million, Tim Crawford, SarahPAC's treasurer, told TIME exclusively. Crawford attributed the surge of funds to energy surrounding the midterm elections, Palin's endorsements and her TLC reality show “Sarah Palin's Alaska.” Her second book, America By Heart, came out Nov. 23.

    The PAC spent $64,000 buying advance copies of her books, “just as we did last year” with her first book, Going Rogue, Crawford said. “They're a great fundraising tool for us.” Palin is in the midst of a two-week cross-country book tour.

    Overall the PAC spent $581,000 between Oct. 13 and Nov. 22. A larger percentage than normal was spent on contributions to political candidates, $244,000, as Palin tried to help her 81-endosed candidates over the Nov. 2 finish line. Fifty-five of them won.
    Major League fundraising as she gears up for a run?

    (tags: sarah_palin)

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"Failure by Congress to extend the Bush tax cuts, especially locking in the 15 percent capital gains tax rate, will spark a stock market sell off starting December 15 as investors move to lock in gains at a lower rate than the 20 percent it would jump to next year, warn analysts. While it is unclear how bad the sell off could be, it could wipe out the year’s gains, they warn.

"Capital gains tax rate will increase from 15 to 20 percent if the tax cuts are not extended. The last time the capital gains tax rate increased–on Jan. 1, 1987 from 20 to 28 percent–investors realized their gains at the lower tax rate," said Daniel Clifton at a Washington partner at Strategas Research Partners.

"We would expect a similar effect this time around as investors see the tax rate going up and choose to realize their gains and incur the 15 percent tax." In a memo to clients, Clifton says that the date most clients are focused on is December 15th for a deal in Congress before beginning to sell. One reason: Many stock options expire that day and investors have to act."

There may very well be a deal to extend the entirelty of the Bush tax rates for a year or two and kick the can down the road.

Look for a number of votes over the next week as the political sideshow plays out.

tags: Taxes

Posted from Diigo. The rest of my favorite links are here.


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"Congressional Democrats rammed a bill through the House of Representatives Thursday indefinitely extending the Bush-era tax cuts only for families making $250,000 a year or less. It would maintain the current Alternative Minimum Tax limit for two years. The measure, which passed on a sharply polarized 234-188 vote, would allow the Bush tax cuts to expire after December 31 for the wealthiest Americans. Most Democrats backed the bill, while most Republicans opposed it. GOP leaders are insisting on an extension of the tax cuts for all Americans. All 42 Senate Republicans publicly vowed Monday to prevent a final vote on any other legislative business in the lame duck session until Congress has "prevented the tax increase that is currently awaiting all American taxpayers.""

The U.S. Senate will likely filibuster this cynical attempt to raise taxes on small business and demagogue the issue of tax rates for the wealth.

But, the LEFT will have a field day painting the GOP as the party of the rich.


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Many of us have been concerned that the START Treaty would weaken our national security, and recent revelations of previously undisclosed talks with Russia on missile defense and movement of Russian tactical nuclear warheads only raise more questions that must be answered. I’ve asked for the full negotiating records, as have been provided to the Senate on previous treaties, but the Obama administration has continually denied that request and promised that missile defense was never part of the negotiations with Russia. But we have now learned that the State Department did in fact meet with Russia to specifically discuss missile defense, after months of denying these discussions ever took place. With the additional news that Russia moved warheads near the borders of our NATO allies this spring — warheads that are conspicuously not covered by START — it’s time to get some straight answers and for the State Department to provide the full negotiating records. The START Treaty could severely weaken America’s ability to defend our people and our allies against missile attacks from nations like Iran, and we need all of the facts on how this treaty was agreed to.

START needs a more thorough review and active debate in the U.S. Senate. This issue needs to be put over until the next Congress.

Note: The START treaty requires a 2/3 rds vote for passage.

tags: Jim_DeMint START

Posted from Diigo. The rest of my favorite links are here.


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