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FACTS FICTION in Between First Debate 2012

In EOC EYEONCITRUS.COM, FACTS FICTION in Between First Debate 2012 on kp20 at 311204

Paul Davidson, Tim Mullaney, Gregory Korte and Susan Davis, USA TODAY

Complete story here

(Photo: Michael Reynolds, Getty Images)

(Photo: Michael Reynolds, Getty Images)

Story Highlights
Candidates spar over taxes on the wealthy and the middle class
North America’s energy independence and job creation debated
Also a hot topic: The federal health care law’s effects on Medicare

2:15AM EST October 4. 2012 -  In the first presidential debate Wednesday night, President Obama and Republican nominee Mitt Romney packed their responses with accusations about each other’s policies and defenses of their own.

Here are a few claims that deserve a deeper look:

Private-sector job gains

Claim: Obama said the U.S. economy has created 5 million private-sector jobs the past 30 months.

DEBATE: Battle of economic visions

Facts: After the economy plummeted in late 2007 and throughout 2009, the United States has gained 4.6 million private-sector jobs since the labor market bottomed in February 2010 — or 5.1 million under preliminary revisions released last week that are not part of the official tally by the Bureau of Labor Statistics.

ANALYSIS: Romney plays strong offense

Still, that’s weak by historical standards. Under President George W. Bush, the private sector also added 5 million jobs in the 30 months after employment hit bottom following the 2001 downturn, and the pace of private-sector gains in the previous two recoveries was far stronger.

Tax cuts

Claim: Obama says Romney’s tax plan would cut taxes by $5 trillion over 10 years, inflating the deficit.

 

Facts: Romney has proposed cutting tax rates by 20% in each bracket, which, the liberal Center for Budget and Policy Priorities says would cost $4.9 trillion over 10 years. Romney said his plan will be paid for by curtailing tax deductions, so middle-class people pay less overall and upper-income people don’t see lower taxes. Last month in Ohio, Romney said middle-class people would see little change in their taxes under his plan.

Romney has declined to say what tax deductions he would end. The non-partisan Tax Policy Center has contended that middle-class families would see taxes rise about $2,000 a year under Romney’s plan if he keeps his promise to make the tax reform revenue-neutral, arguing that it can’t be done without ending popular middle-class deductions on mortgage interest and charitable contributions.

The American Enterprise Institute, a conservative-leaning think tank, has said that the gap can be closed by ending tax breaks targeting the wealthy, including tax exemptions for interest on municipal bonds.

Romney said he would not raise taxes and would not approve any tax cut that would expand the deficit. He argued that tax cuts will increase investment, putting more people to work and increasing the taxpaying population.

The middle class

Claim: Romney said middle-class families’ income is down $4,300 since Obama took office.

INTERACTIVE CHART: Who’s up, who’s down in the polls

Facts: According to a March 2012 analysis by Maryland-based economic consulting firm Sentier Research, Romney was correct. According to their analysis, based on February 2012 Current Population Data compiled by the U.S. Census, the median household income was $50,065 in February, compared to $54,481 in December 2007 — right before the recession started, and nearly 11 months before Obama was elected.

The current median household income is $50,678.

What Romney didn’t say is that the decline in real median household income has been occurring over the course of the past decade, well before Obama took office. The trend has continued under the Obama administration, but it did not start there.

Taxes for the wealthy

Claim: Romney says he wouldn’t cut taxes on the wealthy.

Facts: Romney wants to cut personal taxes by 20% for everyone, including the wealthy. He also wants to cut taxes on interest, dividends and capital gains for Americans with adjusted gross income below $200,000.

Obama, however, wants to return taxes to Clinton-era rates for individuals who make more than $200,000 in annual taxable income and families who make more than $250,000 in taxable income. So Romney wants to maintain tax cuts for the wealthy that Obama would eliminate.

Energy independence

Claim: North America can become energy independent under Romney’s plan, creating 4 million jobs.

Facts: This is likely to happen anyway, possibly as soon as the end of the decade, Citigroup said in a book-length report earlier this year.

The key factor is not changes in policy, but changes in drilling technology that have let America increase oil production faster than any other nation in the world in the past four years, Citigroup said.

Declining crude oil imports, and more exports of natural gas and refined oil products, could reduce the trade deficit by as much as 40%, adding 1% a year to economic growth, Moody’s Analytics estimates. Citgroup estimated that the emergence of the United States and Canada as a "new Middle East" could add 3.6 million jobs.

Medicare cuts

Claim: Romney said Obama’s health care law cuts $716 billion from Medicare which will hurt current beneficiaries.

Facts: This has been one of Romney’s favorite lines of attack, but his claim that Obama’s health care law cuts $716 billion in benefits for current Medicare beneficiaries is not true. The health care law will limit payments to health care providers and insurers — not senior citizens’ benefits — as part of an effort to rein in costs over the course of the next decade. Romney and other opponents of the law, however, contend that the payment cuts would affect seniors’ benefits as an unintended consequence because they assert doctors will stop accepting Medicare patients and it could force some health care facilities to close.

The law has not yet been fully implemented, so the cuts’ effects on beneficiaries are uncertain. But the law as written does not cut benefits for senior citizens. It is also worth noting that Romney’s running mate, Rep. Paul Ryan, R-Wis., included the same spending cuts in his own 2012 budget blueprint that House Republicans supported with near unanimity.

Clean energy

Claim: Romney said clean energy interests got $90 billion in tax breaks under Obama, and that half of those companies receiving breaks went out of business.

Facts: The president’s 2009 stimulus bill included a combination of over $90 billion in spending, financing and tax breaks for clean energy investments, but it’s false that half of the companies went broke. Some of the Energy Department’s loans went to firms that failed, most notably the solar energy company Solyndra, which cost taxpayers $535 million, but Romney’s claim that half of the companies went broke is inaccurate. In a 2011 story, USA TODAY reported that the stocks of many of 45 publicly traded companies receiving stimulus funds had outperformed the stock market, despite Solyndra and other, smaller failures. The money, mostly in loans and loan guarantees, are helping build factories for companies such as Ford, Nissan and Tesla Motor. One beneficiary is health care technology company Athenahealth, whose shares have more than doubled. Its CEO, Jonathan Bush, is a first cousin of President George W. Bush. REST of story here

What’s on TWITTER

In EOC EYEONCITRUS.COM, What’s on TWITTER on kp59 at 311202

 

What Mitt Romney Is Really Worth: An Exclusive Analysis Of His Latest Finances

The GOP nominee has diversified far past Bain Capital. From hedge funds to his kids’ $100 million trust, Forbes reveals the most definitive valuation of the man who would be the richest…

Forbes.com

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For Romney, wealth meant both freedom and a trap

The wealth intended to liberate Romney the politician instead has ensnared him. He hoped it would free him; for many voters, it now seems to define him.

washingtonpost.com

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Come to Dog Mountain

Just outside St. Johnsbury, Vermont, there sits a small white chapel, dedicated to man’s best friend. It’s been proven true that these canine treasures will stand beside you no matter your lot in

ireport.cnn.com

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Op-ed: The deeply disturbing Israel court ruling on Rachel Corrie

The wrongful death lawsuit for Rachel Corrie was not a solution, but rather a symptom of a broken system of accountability within Israel and the U.S.government, writes guest columnist Cindy Corrie.

seattletimes.com

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12 tips to become a better smartphone photographer

Wondering how to get the most of your smartphone camera? Is there more to mobile photography than filters to make your pictures look better than they really are?

cnn.com

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Cher

@cher

29 Sep

I’m 4 Obama! Believe Romney is An Elitist Billionaire who looks at cookies & says”Im not sure about these they look like they come from 7-11

Retweeted by Elizabeth Anne M

and 869 others

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Peter Feld

@peterfeld

28 Sep

Obama has drawn a “red line,” but not the one Bibi Netanyahu had in mind. pic.twitter.com/O53KJIEM

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and 79 others

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l S3RG10 l

@lS3RG10l

28 Sep

@MMFlint

and if anyone the has experience stealing elections. Its the Republicans

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and 72 others

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Audit the Pentagon-Rand Paul

In Audit the Pentagon-Rand Paul, EOC EYEONCITRUS.COM on kp12 at 311226

Penatgon Military-Industrial Complex essential arm

TAMPA — Kentucky Sen. Rand Paul will use his prime-time speaking slot at the Republican National Convention to urge party members to be more open to scrutinizing military spending, a position that puts him in the minority within the GOP.

Paul made the remarks Sunday when he addressed thousands of supporters at a rally for his father, former Republican presidential candidate and Texas Rep. Ron Paul, at the University of South Florida.

"Because we’ve talked about audit the Fed so much, we’re now talking about audit the Pentagon," Paul told the crowd. "Now, because of Hurricane Isaac, it’s not sure whether my message will get to the Republican National Convention, but I’m pretty sure I’m going to be able speak. And one of the messages that I will give to them is that Republicans need to acknowledge that not every dollar is well spent or sacred in the military and we have to look for ways to make every department accountable."

Paul will speak at the convention between 7:00 and 8:00 PM eastern time Tuesday, according to an updated schedule made public Sunday.

Both Republican presidential candidate Mitt Romney and his running mate, Wisconsin Rep. Paul Ryan, have vowed to increase defense spending if elected.

Send a message to the establishment-Dear Editor

In DEAR EDITOR, Ron Paul, Send Message to Establishment on kp31 at 301105

R3VOLUTION v. ROMNEYCARE
The Republican primary is wide open, and the nomination is there for the taking!
That’s why today’s grassroots R3VOLUTION v. RomneyCare Money Bomb is so vital.
An establishment candidate like Mitt Romney is raising money hand over fist from Wall Street bankers in an effort to flood early states with cash so he doesn’t have to defend his liberal record.
But if grassroots conservatives, Tea Party activists and liberty-minded Americans make this Money Bomb a massive success, we will send a powerful message to the establishment that the nomination will go to the consistent conservative, not the highest bidder.

I am the only candidate in this race who has steadfastly defended the Constitution, fought for limited government, and correctly predicted the economic collapse.
But I need your help to spread the word of our r3volution to voters in early primary and caucus states.
Every dollar of your contribution will go toward putting in place a winning team in early voting states like Iowa and New Hampshire.
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Unlike other candidates in this race, I have never flirted with cap and tax, supported socialized medicine schemes or championed bailouts
.
My record and ability to generate real enthusiasm from the grassroots means ours is a top-tier campaign.
But I need your help to prove it to party bigwigs and pundits who view fundraising totals as the measure of how serious my candidacy is.
That’s why I hope I can count on you to contribute to the R3VOLUTION v. RomneyCare money bomb today.

I know times are tough.
But with a wide open field filled with flawed establishment candidates, there is a real path to victory.
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Or maybe you can dig a little deeper and contribute $100, $250 or even the legal maximum of $2,500 ($5,000 per couple).
But whatever you can contribute, I promise every dollar will go toward putting together a first-class operation in the early voting states.
I thank you for all that you have done in the name of liberty.
For Liberty,

Ron Paul
P.S.  The Republican primary is wide open, and the nomination is there for the taking.
An establishment candidate like Mitt Romney is hitting up Wall Street bankers for millions of dollars.
Send a message to the establishment by contributing to the grassroots R3VOLUTION v. RomneyCare Money Bomb so I can put a top-flight operation on the ground in early voting states like Iowa and New Hampshire.
Click here to make a generous contribution of $20.12, $35, $50, $100, $250, or maybe even the legal maximum of $2,500 ($5,000 per couple).

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