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dcsmart
dcsmart's Journal
dcsmart's Journal
February 9, 2012
Food Stamp President(s) - Oh SNAP!
January 27, 2012
http://www.offthechartsblog.org/five-things-you-probably-dont-know-about-food-stamps/
Five Things You Probably Don’t Know About Food Stamps
A large and growing share of SNAP households are working households (see chart). In 2010, more than three times as many SNAP households worked as relied solely on welfare benefits for their income.
The share of SNAP households with earnings has continued growing in the past few years albeit at a slower pace despite the large increase in unemployment.
One reason why SNAP is serving more working families is that, for a growing share of the nations workers, having a job has not been enough to keep them out of poverty.
The share of SNAP households with earnings has continued growing in the past few years albeit at a slower pace despite the large increase in unemployment.
One reason why SNAP is serving more working families is that, for a growing share of the nations workers, having a job has not been enough to keep them out of poverty.
http://www.offthechartsblog.org/five-things-you-probably-dont-know-about-food-stamps/
January 27, 2012
http://thinkprogress.org/politics/2011/01/07/137866/obama-more-jobs-bush/?mobile=nc
Obama Created More Jobs In One Year Than Bush Created In Eight
As the Wall Street Journal noted in the last month of Bushs term, the former president had the worst track record for job creation since the government began keeping records. And job creation under Bush was anemic long before the recession began.
http://thinkprogress.org/politics/2011/01/07/137866/obama-more-jobs-bush/?mobile=nc
January 17, 2012
Carlyle, Bain Capital, and the Tax Treatment of The Carry
Howard Gleckman | Posted on January 12, 2012, 3:26 pm
http://taxvox.taxpolicycenter.org/2012/01/12/carlyle-bain-capital-and-the-tax-treatment-of-the-carry/
CLOSE THE ROMNEY LOOPHOLE
Citizens for Tax Justice
http://ctj.org/taxjusticedigest/archive/2011/12/close_the_romney_loophole.php
Business Taxation: What is carried interest and how should it be taxed?
http://www.taxpolicycenter.org/briefing-book/key-elements/business/carried-interest.cfm
Understanding the concept of "carried interest," or how to make a ton of money
and pay very little in taxes.
The first is the controversy over the role of Bain Capital, the investment partnership whose founders included Republican presidential hopeful Mitt Romney. The second is the disclosure by another firm, The Carlyle Group, of how its top executives are compensated.
Carlyle disclosed its executive compensation in some detail, providing a rare glimpse into how investment firm managers are paid. Combined with the Bain flap, it will surely reopen the five-year old debate over the special tax treatment these partnerships receive through a mechanism known as carried interest or, in short, the carry.
Carlyles disclosure opens a small window into how this works. In 2011, its three founders were each paid about $140 million. But they received just $275,000 in salary and another $3.5 million in the form of a bonus (also taxable at ordinary income rates). But each also got $134 millionor 96 percent of their compensationfrom investment profits. Much came from the carry and is taxable at 15 percent.
Carlyle, Bain Capital, and the Tax Treatment of The Carry
Howard Gleckman | Posted on January 12, 2012, 3:26 pm
http://taxvox.taxpolicycenter.org/2012/01/12/carlyle-bain-capital-and-the-tax-treatment-of-the-carry/
Much of Romney's income that is taxed at that super-low rate is actually compensation in the form of a "carried interest" in the private equity deals of Bain Capital. While CEO's, actors, and athletes with multi-million dollar salaries, bonuses, or stock options pay income tax rates of 35 percent (and payroll taxes) on their compensation, managers of private equity firms, hedge funds, and other investment funds pay only 15 percent income tax (and no payroll tax) on their share of the funds' profits that they get in exchange for their management services. Even some managers who benefit from the low rate admit it's not justified.
This makes Romney a good poster child for the "Buffett Rule," the principle that millionaires should not pay lower effective tax rates than middle-income people. One step towards implementing the Buffet Rule is to close the loophole that allows "carried interest" (the fund managers' share of the deal they get as compensation) to be taxed at the 15 percent rate even though it is not truly capital gain.
CLOSE THE ROMNEY LOOPHOLE
Citizens for Tax Justice
http://ctj.org/taxjusticedigest/archive/2011/12/close_the_romney_loophole.php
Business Taxation: What is carried interest and how should it be taxed?
http://www.taxpolicycenter.org/briefing-book/key-elements/business/carried-interest.cfm
December 29, 2011
Marx's theory of working-class revolution
Alan Maass looks at the building blocks for Karl Marx's view of the world.
http://socialistworker.org/2010/10/14/marxs-theory-of-revolution
December 27, 2011
Fighting for Socialism in a Backward Liberal Democracy
http://www.politicalaffairs.net/fighting-for-socialism-in-a-backward-liberal-democracy/
December 24, 2011
Eugene V. Debs Internet Archive
http://www.marxists.org/archive/debs/index.htm
Early American Marxism
http://www.marxists.org/history/usa/eam/index.html
Daniel De Leon
http://www.marxists.org/archive/deleon/pdf/index.htm
Hal Draper
http://www.marxists.org/archive/draper/index.htm
here are a few more suggestions:
Eugene V. Debs Internet Archive
http://www.marxists.org/archive/debs/index.htm
Early American Marxism
http://www.marxists.org/history/usa/eam/index.html
Daniel De Leon
http://www.marxists.org/archive/deleon/pdf/index.htm
Hal Draper
http://www.marxists.org/archive/draper/index.htm
Profile Information
Gender: MaleHometown: MI
Home country: USA
Member since: Wed Dec 3, 2008, 08:53 PM
Number of posts: 1,373