Romney revives tax discussion with admission of tax avoiding history and expertise

Romney Says Corporations Familiar With ‘Low-Tax Havens’ – Businessweek 

The newly released Bain records show that Romney took advantage of investments with the firm that achieved a low tax rate, for example, by engaging in what are known as management- fee conversions or fee waivers. Bain Capital Fund VII LP disclosed in a 2009 report that the general partner in the fund had in the past waived management fees and converted those fees into an interest in the fund called a “priority profit share.” That had the effect of turning fees that would be taxed at ordinary income rates, as high as 35 percent, into capital gains, taxed at a rate of 15 percent.

So by using this loophole he is essentially cutting his tax rate from 35% to 15%.   A 20% reduction.   Considering he made $20M last year, 15% is $3m.  35% is $7M.   So he is getting a roughly $4m/yr tax loophole.

Multiple this by 10 years, and you find the $40M he used to run for President in 2008.  You’ll also find that the U.S. ran a budget deficit this whole time, so a good portion of Mitt’s tax loophole money was replaced with borrowed from China money.

The thing about this is…it only takes 300,000 people paying that extra $4M/yr to make up our $1,200,000,000,000/yr deficit.

300,000,000 million people in the country, divided by 300,000…is the top 0.1%.  I.e. the top 10% of the top 1%.

In 2005 (seven years ago), the top 0.1% averaged nearly $1.7M each.

So while closing this loophole doesn’t completely close our budget gap in and of itself, it closes a good portion of it…and does so in a responsible manner.

Right now we are borrowing from the wealthy to pay our bills rather than taxing them.  The same folks are then turning around and using that money to “job create….” in the sense that Mitt Romney is using that money to run for President…again (he took the $17m he spent in 2008 as a loss on a personal loan to himself on his 2009 tax returns…one would assume…since he is hiding them and it makes sense to do so).

Far from being the petty thoughts of small minds, wondering how much folks like Mitt pay in taxes, and how they have avoided them in a very relevant discussion in 2012…at least if anyone knows how math works.

Why RON PAUL won’t ever get above 10-12% support

NPR.org » Ron Paul Proposes $1 Trillion In Cuts His First Year In White House http://m.npr.org/story/141443375?url=/blogs/itsallpolitics/2011/10/17/141443375/ron-paul-proposes-1-trillion-cut-his-first-year-in-white-house

“The other candidates have not offered this. I think they don’t think it’s very serious. They think we can just tinker around the edges. But I think the American people are ready for some honest thinking and some honest reforms. A lot of people would say this is pretty extreme, pretty excessive. But I go back to say we have had extreme spending, extremism in the growth of our government. And it’s time now that we say we have to cut.” Many Republicans have long advocated pulling the plug on the Education Department. But Paul, a libertarian congressman from Texas would go much further, ending not just that department but Commerce, Interior, Energy and HUD departments. According to his website, he’s also proposing: … Abolishing the Transportation Security Administration and returning responsibility for security to private property owners, abolishing corporate subsidies, stopping foreign aid, ending foreign wars, and returning most other spending to 2006 levels.

Every single Republican candidate wants to deal with the deficit by cutting taxes.  And also wants to deal with high unemployment by cutting spending (on labor).

I think there should be a ‘math’ section for tonight’s debate.

The Joys of Random Number Generators (Catan)

For those that don’t recognize the screen, this is from the game “Catan” on the XBOX 360 Live. It based on the board game “Settlers of Catan” and is a very accurate recreation of that game. The screenshot is of an analysis of all the die rolls during the game. The dark blue background shows a “likely” distribution. The light blue foreground shows the “actual” distribution. The likelyhood of no “8”s being rolled is very small.

Yes, I had a Big City on a tile with an 8. And there was not a single one rolled in the game.

I lost the game.

What Baby Robots Learn

World’s Hardest Easy Geometry Problem

Using only elementary geometry, determine angle x. Provide a step-by-step proof.You may only use elementary geometry, such as the fact that the angles of a triangle add up to 180 degrees and the basic congruent triangle rules (side-angle-side, etc.). You may not use more advanced trigonomery, such as the law of sines, the law of cosines, etc. There is a review of elementary geometry below.

This is the hardest problem I have ever seen that is, in a sense, easy. It really can be done using only elementary geometry. This is not a trick question.

We have to answer correctly or we don’t get to eat.

And we can’t use the internet.