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fish'nmagician

Newt's questions on Romney's wealth pays off

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It seems that perhaps Newt is striking a chord that resonates,



when making an issue of Mitt's business dealings and the favorable Taxation rates such corporate raiders receive.



 



maybe the social conservatives are more in line with the 99%.


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I haven't looked at any Polling but I think SC was about something else.

 

The Media clearly tried to shape events with it's last minute hit pieces about Newt.

I'm not usually a conspiracy guy, but it seemed clear to me that it was coordinated and timed for maximum effect.

 

SC said ....FY.

 

The only real question to me was their goal, they're a sophisticated bunch.

 

They may have assumed the backlash and got the result they were looking for.

I prefer Newt to Romney, but I think the Media calculation is that he would be easier to beat.

 

Everyone already knows Romney is a wealthy man.

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Folks are afraid of Romney going in and raiding govt just like he did at Bain cutting off their access to the govt teat They know Newt is a big govt guy and will keep the taps running full bore.

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Newt was dead in the water,



then his attack PAC came out with the Bain "Documentary" and Newt gained traction demanding to see the tax returns.



 



clearly the social conservatives lining up behind Newt are not the same sort who applaud unrestrained unregulated capitalism.


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If the evil MSM media wanted to dethrone Newt, the interview with Mrs. Gingrich #2 would have aired before the Iowa caucuses. SC's unemployment rate is much higher than Iowa's rate, so the moral integrity objections would have had more effect. Iowa is relatively prosperous and voters there are less hard-pressed on budgetary issues.

 

It's going to be interesting to see if Newt's war on venture capital enterprises continues. I don't think he'd've won SC without it, but there are also Republicans - and certainly the business wing of the party - who don't like it. Wall Street will be reminded that Newt's bomb-throwing could go their way, too.

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Methinks most people do not think that Romney has done anything illegal. But are bothered by what should be so secret about the taxpaying relationship between a presidential hopeful and his government.

 

IMO, once they are released most people are going to wonder why they have to pay taxes before they are paid while Romney gets to defer his taxes using the "carried interest" rule.

 

Unless he releases the tax returns from his Bain Capital years he will be hounded by the media about how much, if any, of his fortune has yet to be taxed and how long he deferred paying on the portion that has been taxed.

 

He will also be asked about Bain accounts in the Cayman Islands and other tax havens.

 

All perfectly legal, these offshore accounts are not tax dodges ordinary middle income people can use and may have a political stink.

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"Corporate raiders" as such don't receive any particularly favorable tax rate. He's getting a basic 15% tax rate because most of his income is in return on capital - investment income, if you like.

 

As the primaries drag on, I wonder if Newt will make war on the distinction in the tax code between "earned income" and income from capital gains, a la Buffett's criticisms.

Boy, would Wall Street hate that.

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