mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.




mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.




mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.




mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.




mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.




mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.




mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.




mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.




mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.




mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.




mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.




mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.




mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.






mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.




mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.




mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.




mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.




mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.




mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.




mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.




mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.




mn

Abhijit Iyer-Mitra's arrested for 'derogatory' remarks: Many condemn Odisha govt's move

Arrest
Abhijit Iyer-Mitra was arrested for his alleged derogatory remarks against the Sun Temple and Odisha culture.
Security analyst and columnist Abhijit Iyer-Mitra was arrested on Tuesday for his alleged derogatory remarks against the Sun Temple and Odisha culture. The Commissionerate Police arrested Abhijit after hours of interrogation at an undisclosed location in Bhubaneswar. Police Commissioner Satyajit Mohanty said Abhijit was arrested in connection with a criminal case registered against him at Saheed Nagar Police Station on September 20. He has been booked under IP63C Sections 294, 295A, 153A, 500, 506 and Section 67 of the Information Technology Act. He also appeared before a House Committee of Odisha Assembly on Tuesday and tendered an unconditional apology for his derogatory remarks on legislators. The House panel, headed by leader of opposition Narasingh Mishra, asked Abhijit to re-appear on November 2 and submit an affidavit. "Abhijit Iyer-Mitra admitted to the charges levelled against him and offered an unconditional apology for his 'stupidity'. He has been directed to depose before the Committee and submit an affidavit in this regard," said Mishra. "After examining his affidavit, the panel will decide whether to accept his apology or not. Accordingly, the Committee will then recommend to the House to take action against him, if necessary," he said. Abhijit was questioned about the alleged breach of privilege. Many have condemned his arrest, terming it "a zone where freedom is in danger, and an "Orwellian nightmare". Dear Prime Minister @narendramodi, quite admirable that you are active on social media. So I am sure you are aware that in India one can get arrested, like my friend @Iyervval, for a tweet on the origin of Rasagola. That's the democracy & freedom we Indians enjoy under your govt. https://t.co/Hg9kd3pAAe — Aarti Tikoo Singh (@AartiTikoo) October 24, 2018 We're slipping into a zone where #freedom is in danger. It's outrageous that Abhijit Iyer-Mitra @Iyervval has been arrested by #Odisha Police on risible charges and denied bail. Please read and circulate my protest and appeal. Fight for your, his and everybody's liberty. #India pic.twitter.com/gbuHebzI8g — Kanchan Gupta (@KanchanGupta) October 24, 2018 Absurd, vindictive, to jail @iyervval for 14 days over a rosogolla-origin tweet. He's a shock-jock, but trawling through his year-old tweets to fuel specious outrage charges is an illustration of how much is wrong with India's FoE laws.https://t.co/TQZTh05PDW — Nilanjana Roy (@nilanjanaroy) October 24, 2018 .@Iyervval has been arrested by Odisha over a tweet about rasgolas. Read that again. Yes. Does this country have a reset button?https://t.co/wfBXqi5JgH — Kabir Taneja (@KabirTaneja) October 24, 2018 #AbhijitIyerMitra (@Iyervval) got arrested in Odisha for a conversation he had a year ago on SM about the origin of Rasogola! Yes, it's 2018 and you read it right, Rasagola. This is beyond bizarre!!https://t.co/ZGzeuI2fEy — Viju Cherian (@vijucherian) October 24, 2018 This is absurd, we are descending into some Orwellian nightmare. The man is known for his viciousness on social media but he can’t be targeted like this. https://t.co/nAkJqnwSpY — Rammanohar Reddy (@ramreddy) October 23, 2018 We are a banana republic. So much for India being a secular democracy . Shame ! #istandwithabhijit https://t.co/yhN95j5T4K — Naveen Suresh (@NavSuresh) October 24, 2018 This nonsense with @Iyervval has got to stop. His comments are often bigoted and silly and he knows it but mouthing off shouldn't be cause for arrest. Fighting over the origins of rasagola? How about over the success or otherwise of #MakeInIndia instead?https://t.co/EP4kxnYxmE — Jabin T Jacob 鄭嘉賓 (@jabinjacobt) October 25, 2018 He had earlier been summoned to appear before the panel on October 11, which he had skipped. He was summoned again to appear on October 23. Odisha Assembly Speaker Pradip Amat had on September 20 constituted a House Committee to probe the journalist's alleged derogatory remarks against the state and its lawmakers. Abhijit had on September 16 posted a video on Twitter criticising the Konark temple. Later, he went on to make the alleged derogatory remarks against Odisha and its culture. Two FIRs were registered against him at Konark and Saheed Nagar police stations for his remarks. Last month, the Odisha Police arrested the columnist in New Delhi for his anti-Odisha comments. However, he was given conditional bail by a local court in Delhi. Later, the Supreme Court rejected his bail plea saying his comments 'incited religious sentiments'. With IANS inputs




mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.




mn

Romney's Reckless China Rhetoric Risks New Cold War

Rachel Esplin Odell argues for a wiser and more conservative strategy that resists the temptation to exaggerate the challenge posed by China.




mn

Should Mexico revive the idea of amnesty for criminals?

As homicides levels in Mexico are rising and U.S. pressure is mounting, the administration of Andrés Manuel López Obrador (known widely as AMLO) is turning further away from several core precepts of the security policy with which it assumed office. The idea of giving amnesty to some criminals as a way to reduce violence that…

       




mn

Should Mexico revive the idea of amnesty for criminals?

As homicides levels in Mexico are rising and U.S. pressure is mounting, the administration of Andrés Manuel López Obrador (known widely as AMLO) is turning further away from several core precepts of the security policy with which it assumed office. The idea of giving amnesty to some criminals as a way to reduce violence that…

       




mn

Should Mexico revive the idea of amnesty for criminals?

As homicides levels in Mexico are rising and U.S. pressure is mounting, the administration of Andrés Manuel López Obrador (known widely as AMLO) is turning further away from several core precepts of the security policy with which it assumed office. The idea of giving amnesty to some criminals as a way to reduce violence that…

       




mn

Why Voters Should Fear Romney’s Tax Plan


Republican presidential candidate Mitt Romney has been strategically slippery about his tax plan, largely refusing to explain how he would pay for the sweeping tax cuts that represent his primary promise to voters.

In the second debate, though, he offered just enough detail for us to sketch the outlines of his program. If you’re poor or worried about the state of the U.S. government’s finances, the picture is not pretty.

The first course in Romney’s plan is dessert: Tax breaks for everyone! He would start by extending the tax cuts put in place by former President George W. Bush. He would then cut everyone’s rates by another 20 percent, repeal the alternative minimum tax, and get rid of the estate tax.

How would he pay for this? Mainly by limiting the amount people can deduct from their taxable income. Here’s the most detailed statement Romney has made: “One way of doing that would be say everybody gets—I’ll pick a number—$25,000 of deductions and credits, and you can decide which ones to use. Your home mortgage interest deduction, charity, child tax credit and so forth, you can use those as part of filling that bucket, if you will, of deductions.”

Big Shortfall

Putting both halves of Romney’s plan together, we compared the impact of the tax cuts with the offsetting effect of limiting itemized deductions. The result: While a cap on deductions is an interesting idea, it couldn’t possibly raise enough revenue to make up for the big tax giveaways Romney has promised. The shortfall would be a whopping $3.7 trillion over the next decade. Lowering the deduction limit to, say, $17,000 wouldn’t much change the math. The gap would still be $3.4 trillion.

Romney’s plan is most striking in its distributional implications (see chart). The greatest benefit would go to the rich. The top one-fifth of households would enjoy a staggering $16,000 average tax cut, offset by a tax increase of $4,000 due to the deduction cap. Net gain: $12,000. Actually, though, most of this group wouldn’t see that large of a benefit. About half of the spoils would go directly to the top 1 percent, which would get an average net tax cut of $100,000 a year.

The further one goes down the income scale, the worse Romney’s plan looks. The average household in the middle of the income distribution—the heart of the middle class—would get a cut of a little more than $800, which wouldn’t be much changed by the limit on deductions. The poor would actually pay slightly more tax, because Romney would end stimulus-related measures—such as an expansion of the Earned Income Tax Credit—that have benefited them.

True, any across-the-board tax cut would give more money to the rich in dollar terms, because they pay most of the taxes in the first place. But Romney’s plan goes further. It would reduce the amount the richest Americans pay relative to their income more than for anyone else. Specifically, the richest fifth would go from paying 26 percent of their income in taxes to 22 percent. The middle fifth would go from 16 percent to 15 percent. The tax burden on the poor would rise.

Romney has explicitly denied that his tax plan would favor the rich: “I will not, under any circumstances, reduce the share that’s being paid by the highest-income taxpayers.”

If this was truly his intention, he could have proposed tax cuts that were proportional to income—say, by offering simply to cut everyone’s tax rates by a few percentage points, rather than by a certain percentage. This would give the rich a bigger tax cut in dollar terms while preserving the distributional structure of our tax system.

Benefit Distribution

As it stands, Romney’s plan would result in 48 percent of the net tax cut going to the richest 1 percent (see pie chart). Another 32 percent would go to the next richest 4 percent of the population. All told, 94 percent of the benefit would go to the top 10 percent of the income distribution, leaving only 6 percent for the rest.

Many of Romney’s biggest boosters argue that he would be a more moderate president than he has been a candidate. Perhaps that’s plausible. On taxes, though, he has left himself little room to maneuver. His constituency would expect him to deliver on the very specific tax cuts he has promised. Meanwhile, his vagueness on the offsetting deduction limits would leave him with no mandate to get rid of the most popular tax breaks, such as those for charitable giving, mortgage interest or health insurance.

Hence, the most probable outcome would be a tax system that is radically less progressive, achieved through cuts that would create a much larger long-run budget deficit. Both outcomes would be colossal failures at a time in which true tax reform is greatly needed.

Authors

Publication: Bloomberg
Image Source: © Brian Snyder / Reuters
     
 
 




mn

Mitt Romney changed the impeachment story, all by himself. Here are 3 reasons that matters.

       




mn

Warming Temperatures Stunt Autumn Leaf Colors

Tourists and residents in New England used to receive a spectacular display of color on the second October of every year. However, in recent years, the show has been a bit duller and a bit later than usual. The culprit? What else - area temperatures




mn

Smart homes and smart cities on MNN

I slice and dice some recent posts on technology




mn

On MNN: Robot hotels, over-conditioned offices, seasteading still sinks, and I Kondoed my phone!

A look at some recent posts on our sister site that might interest TreeHuggers.




mn

On MNN: Tanks for printers, the return of the water fountain and the end of hitchBOT

And put away your phone if you are on vacation.




mn

On MNN: Getting chipped, getting old, getting a neat new way to get around

A roundup of some posts from our sister site.




mn

On MNN: Bikes stopping for red lights! And other reporting from Copenhagen

Also a look at smart phones for boomers and for refugees, and making the Raspberry Pi higher.




mn

On MNN: A totally brilliant bell, common cleaning mistakes and are ad blockers the death of the web?

A look at our favorite posts from our sister site.




mn

On MNN: Don't pack away that standing desk, a bridge to New Jersey and a few Boomer Alerts

A really interesting housing project and a look back at Canadian Thanksgiving




mn

On MNN: Big beds, Working from home is the worst, the death of the stick shift.

And a really nice solar decathlon winner.




mn

On MNN: Digital memories, ads from the future, On telling time, and is Wellness the new Green?

and really, are Christmas lights screwing up your Wi-Fi?




mn

On MNN: Water heaters and Legionnaires' Disease

And more blaming the millennials, robots and boomers and kitchens are exhuasting.




mn

ON MNN: More on kitchen exhausts, exploding hoverboards and fire trucks

Why are our cities being designed around the needs of the trucks instead of vice versa?




mn

On MNN: The maple syrup bubble, soundproofing your apartment, and the library of things

and lessons in management from Renaissance Florence




mn

On MNN: We are all Flint (NOT), ban disposables and your thermostat is spying on you

And dancing robots!




mn

On MNN: Clueless boomers, and in praise of Tim Cook

also: recycling in crisis, how we will live in 100 years.




mn

On MNN: So you want to move to Canada

And a self-driving chair, a computer in your phone and learning to listen.




mn

On MNN: Airplane! Pi! Hello Computer!

and the last job on earth.




mn

On MNN: Edward Burtynsky, Noma Restaurant and the future of the Sharing Economy

A TreeHugger hero visits our sister site.




mn

I am tired of the damn trolls. This year I am turning out the lights for Earth Hour and you should too, Saturday night at 8:30.

I'm tired of every green initiative being hijacked by the negativism in this country. It's time to stand up and turn off.