Showing posts with label Mitt Romney. Show all posts
Showing posts with label Mitt Romney. Show all posts

Friday, November 02, 2012

If campaigns are zero-sum games, why will neither side talk about climate?


I've seen the justified lamentations about the lack of climate discussion in the campaign, and occasional discussion of why Obama hasn't talked that much about it.  (I provided my own explanation - Ohio.)  There's less discussion of why Romney doesn't talk about it, and little about why the interaction between candidates doesn't produce discussion.

In zero-sum politics, a disadvantage for one candidate should be an advantage for the other candidate, so why doesn't at least one of them push his opinion?

Unlike Karl Rove, I don't have THE answer, but I do have possibilities:

1.  This NYTimes article says their positions aren't that different.  Both acknowledge people are changing climate, so there's no reason to talk about that as opposed to their actual differences over energy policy.

I'm not buying it, first because it far overstates Romney's acceptance of climate change: "there remains a lack of scientific consensus on the issue."  That leaves plenty of room for a fight between reality and denial.  Also the strong difference in energy policy - support a growing sector versus abandoning it to China in favor of a declining and polluting sector - should easily reference back to climate.

The article does provide a service in saying Obama hasn't been completely silent.  And Romney's oblique references have been mocking Obama's intention to do something about it.  Let's refine the question to why both sides say so little instead of being silent.

On to more promising ideas.

2.  One or both sides overestimate the risk to their position.  If each side thinks the issue can backfire and hurt their side relative to the other, then neither will bring it up.  Both campaigns might think the issue has a 55% chance of helping the other side - that's not possible in zero sums, but would mean someone has bad political judgment.

I think this plays a role.

3.  It's not climate as an issue but their own ability to hurt themselves.  Maybe the candidates figure anything they say is more likely to motivate the other side than it is to motivate their own side, so again they keep quiet.  The analogy would be to Romney's relative silence over his abortion position, and the Democrats' relative silence about their somewhat-tepid opposition to torture and civil rights violations.

Problem with this one is that surrogates and Superpacs would likely go on the attack over climate, but everyone has little to say.

4.  It's like space policy - not enough people cared to force it on the agenda.  If Hurricane Sandy had happened in September then things might have been different.  If last summer's heat wave had more time to get into the public mindset, it also might have changed things.  The idea here though is that while the policy elites may be thinking of these things, most of the public isn't.

Sadly, I'm giving this last option the most credit, with an assist from overestimating risk.  It doesn't excuse a lack of leadership, but again helps explain it.  And it means those of us who care about climate have to do more.


For a little respite from climate silence, here's a debate between campaign surrogates with the last part discussing climate.  Romney's surrogate flat-out lies in the debate about current coal technology not producing pollutants, but admits that Romney would eliminate greenhouse gas controls that the EPA is currently phasing in under the Clean Air Act.  He also says the government should provide some money for energy research, but nothing to reduce carbon emissions.  So much for the NY Times article.

Wednesday, October 24, 2012

Romney in Ohio


Romney's team is replaying the tricks that Karl Rove wore out several times, a false sense of guaranteed victory.  From saying in 2006 that Republicans would control the Senate and the House right before they lost both, to the current claim of momentum, it's smoke and burnt toast.

In Ohio, polls show Obama ahead, and way ahead in the locked in, early vote:
On one hand, the two candidates are locked in a dead heat among Ohioans who have not yet voted but who say they intend to, with 45% of respondents supporting the President and 45% preferring his Republican challenger. 
But Obama has clearly received a boost from Ohio’s early voting period, which began on Oct. 2 and runs through November 5. Among respondents who say they have already voted, Obama holds a two-to-one lead over Romney, 60% to 30%. 
When those two groups are combined, the TIME poll reveals, Obama leads by five points overall in Ohio. 
“At least for the early vote, the Obama ground game seems to be working,” says Mark Schulman, president of Abt SRBI, which conducted the poll. 
Nearly one third of all Ohioans voted early in 2008.
(Emphasis added.)  Romney's losing ground with every day.  If he doesn't pick up three or four points or even more starting now, not just on Election Day, then he loses Ohio (assuming the poll's right, of course).  Nate Silver says the candidate who wins Ohio wins the election in 95% of his simulations.  If Romney loses Ohio, he then needs to win Iowa, Nevada, New Hampshire, Colorado, and Virginia.

Keep talking up that momentum Mitt, but you're losing the race as long as the Democrats do a good ground game on turnout, or someone springs an October surprise.


UPDATE:  I forgot to add the obvious that Ohio is car-manufacturing oriented, and the less-obvious that it's 82% dependent on coal.  This might help explain, although not excuse, Obama's climate silence.

Monday, September 24, 2012

Romney refuses to disclose whether he paid a significant amount of income taxes before 2010


The headline above is the takeaway I get from the "disclosures" by the Romney campaign that just went up an hour or so ago.  All they're saying is percentage of adjusted income spent on taxes, not whether the income is virtually eliminated by tax strategies like write-offs from capital losses.  If the vast majority of his $250 million is in investments that lost money, and he made some money on speaking fees that paid normal income taxes, his overall tax bill would be not that much larger than someone in the upper middle class.

What they need to do is show the tax returns, which would give some way to examine if they've been playing games.  Failing that, they should at least provide brief details with actual amounts paid in each of the years they've summarized, just like they did for 2011.  If we believe the summaries released today, Romney did pay taxes every year, but we don't yet know if the taxes amounted to a hill of beans.

Saturday, September 15, 2012

Rolling Stone shows Romney's elite twist in his poison pill


Rolling Stone has lays it on the line about how Romney solved a fiscal crisis involving the parent Bain Company to his own Bain Capital - he let taxpayers take the hit via FDIC to rescue the company while his spinoff walked off with $4 million for providing that "service".  Two points struck me about the piece.

First, Romney proved he's Bush when Romney faced his own little fiscal crisis.  In the global fiscal crisis with strong American roots, several options were on the table:

1. Nationalize failing banks and other institutions, leaving creditors with the haircuts while maintaining a functioning credit and liquidity system, and then sell them off.  Similar to what Obama did with the auto industry, and what Sweden did with its banking industry.

2. Rescue failing banks and other institutions, and include modest reforms of the system through Dodd-Frank legislation that make the crisis somewhat, but only somewhat, less likely to be as bad in the future.  In other words, what Obama did.

3. Rescue failing banks and other institutions, and do nothing substantial to fix the system that created the crisis.  What Bush did.

4. Let them all fail, do nothing in response.  What the Tea Party originally wanted before they became a wing of the Republican Party.  I'm cheating by including this option, it was never realistic or on the table.

The Republican elite is really about Option 3, while pretending some level of sympathy to support for Option 4 among its base, especially because supporters of Option 4 oppose Dodd-Frank only on the belief that financial institutions should just be allowed to fail.  Romney showed where he stood - it's the taxpayers who should pick up the tab.

Second, it's how he made sure the taxpayers got stuck with the tab that shows the elitism:
With his rescue plan a bust, Romney was forced to slink back to the banks to negotiate a new round of debt relief. There was only one catch: Even though Bain & Company was deep in debt and sinking fast, the firm was actually flush with cash – most of it from the looted money that Bill Bain and other partners had given back..... 
Under normal circumstances, such ample reserves would have made liquidating Bain an attractive option: Creditors could simply divvy up the stockpiled cash and be done with the troubled firm. But Bain had inserted a poison pill in its loan agreement with the banks: Instead of being required to use its cash to pay back the firm's creditors, the money could be pocketed by Bain executives in the form of fat bonuses – starting with VPs making $200,000 and up....
What's more, the bonus loophole gave Romney a perverse form of leverage: If the banks and the FDIC didn't give in to his demands and forgive much of Bain's debts, Romney would raid the firm's coffers, pushing it into the very bankruptcy that the loan agreement had been intended to avert. The losers in this game would not only be Bain's creditors – including the federal government – but the firm's nearly 1,000 employees worldwide. 
In March 1992, according to the FDIC documents, Romney approached the banks and played the bonus card. Allow Bain to pay off its debt at a deep discount, he demanded – just 35 cents on the dollar. Otherwise, the "majority" of the firm's "excess cash" would "be available for the bonus pool to its officers at a vice president level and above."
So the plan was to rescue the elite at Bain through bonuses while pushing everyone else out the door.  My question - why bonuses for just the vice presidents and higher, and not for everyone at Bain? It's meaningful that even as Romney played chicken with the debt owed to others, he designed a poison pill that would benefit only the topmost players at Bain.  Not that the other 1,000 employees were all secretaries - they were pretty elite too, just not enough.

This falls in the same category as the estate tax debate.  the Romney elite aren't even about the class interest of the wealthiest 10 percent - it's a much smaller group that they represent.

Wednesday, August 29, 2012

Raymond on Ryan and Romney



Raymond Pierrehumbert scores the top slot on Slate over Paul Ryan's climate denialism and general simplistic view on climate and the environment.  A great read in general but I'll focus on this:
One of the little fantasies that many of us progressives use to fend off the nightmare of a Romney win in November is the idea that he has flip-flopped so much on his way to a presidential candidacy that maybe once in office he'd flop back to the old Romney and give us a Nixon-in-China moment on climate change. There may have been fat chance of that, but with the choice of Paul Ryan as his running mate, even that illusory comfort is denied to us.
Yep.  I didn't really have that fantasy for a President Romney, but we have seen a small number of Republicans who started acknowledging climate reality once they're away from office.  A defeated candidate Romney, I thought, might make the switch.  I still wouldn't rule it out sometime for him, but it will take years.

The one I've wondered about is whether a President McCain would've done what candidate McCain promised.  While it wasn't as good as Obama's cap-and-trade, it would be better than what we've got.  OTOH we've already run a movie version of that with candidate Bush in 2000 promising to regulate CO2 as a pollutant if elected.

We'll never find out what McCain really would've done, but the contrast in this election could hardly be clearer.  One party has done something, if not enough, and the other is disastrous.

Still, we will have to have either a change to weaken the Senate filibuster, a climate disaster, or some sitting Republican senators willing to do the right thing before we can get a real national climate policy.  It won't be easy.

Friday, August 17, 2012

Getting Romney's culture quote just right


There may have been some confusion about what Romney actually said about culture and economic success, so I thought I would document it:
I recognize the power of at least culture and a few other things....As you come here and you see the G.D.P. per capita, for instance, in Massachussetts, which is about $53,000, and compare that with the G.D.P. per capita just across the state of Mississippi managed by Governor Haley Barbour, which is more like $31,000 per capita, you notice such a dramatically stark difference in economic vitality....If you could learn anything from the economic history of the world it’s this: culture makes all the difference.... I recognize the hand of providence in selecting this place.
I think I got that right.  If not perfectly correct, then I'm certain it fits the spirit of what he was trying to say.

News report of quote is here, and economic info here.

Sunday, July 15, 2012

My second tiny Godwin violation: Romney's Downfall


Josh Marshall of Talking Points Memo asks:
Can someone tell me when the Mitt/Bain Downfall video gets posted on Youtube? 

Well, okay then.















I did this once before, three years ago, and forgot everything. But it came back:



(UPDATE:  per the comments, you need to turn on the captions, using the box on the lower right in the Youtube video.)

For more info, see this TPM post.  I wrote a while back on the evidence in Romney's 2010 tax form suggesting that he paid even less or no taxes in prior years, so yet another reason to wonder what he's hiding. The disposal of fetuses comes from this Mother Jones article.

And just in case anyone's interested in my first Godwin violation regarding climate denialists, here's Singer's Downfall:

 

More info on that one at the old blog.

UPDATE 2: just thought I'd mention that I slammed the Romney's Downfall piece together pretty fast, so if anyone has suggestions for subtitle improvements, I could decide to upgrade the captions.  Or you can also use the link right above this update; it has tips for how to make a Downfall video yourself.

Thursday, April 05, 2012

Did Romney pay zero taxes in 2009? And 2008?


Romney's caught heat for a lack of transparency in his finances, especially compared to his father's presidential run.  He's now announced a delay in filing his final 2011 taxes, presumably looking for a time when people will be less resentful of a multi-millionaire paying lower tax rates than they do.

Back in the heat of the primary, though, Romney was forced to release his 2010 taxes and estimate 2011, but failed to do any more as the Democrats have demanded.  The Washington Post blogger guessed it was the exotic nature of his finances that made him hesitant to release them.  Let me try another guess.

Among the details that may spur fresh debate: The returns show that Romney was able to cut his taxable income by $4.8 million because of losses carried over from previous years. Under the tax code, taxpayers who lose money from their investments can deduct those losses against their capital gains. If a taxpayer ends up losing so much that the losses outweigh the gains in a given year, the rest of those losses can be carried to the next year and subtracted from income.
Capital losses are carried over from previous years - the years that Romney still refuses to release.  The carryover means he had no net capital gains in 2009, possibly in previous years as well.  The only taxes he paid in 2010 were capital gains - he had no earned income.

Unless he had earned income in 2009 that he didn't in 2010, which seems unlikely because he's been running for president since 2006, then the information he has given suggests he paid no taxes in 2009, or even earlier if he took large capital losses in 2007 or 2008 that carried over for subsequent years.

I'm no tax expert so maybe I'm missing something, but this looks like dynamite to me.


UPDATE:  looks like others have had the same thought.  More links here.



Monday, March 12, 2012

Romney opposed both major legal challenges to ObamaCare


Romney used to support the individual mandate to buy health insurance.  This Democratic National Committee ad lays out some video clips about it, some of which are cherry-picked, but the overall discussion and the part about Wyden-Bennett are spot-on:


Glenn Kessler has a disingenuous dismissal of the ad.  In particular he claims that when Romney was referring to "we" Republicans as supporting Wyden-Bennett, Romney didn't include himself in that "we" and that Romney was not endorsing the mandate.  Read the full language at Kessler's post, but it seems to me that "we" is easily understood by non-Kesslers.  More tellingly, Kessler daintily omits the context and fails to quote the language in the USA Today Op-Ed by Romney supporting a tax penalty for those who don't buy insurance, which is the functional equivalent of a mandate.

Kessler actually uncovered a nugget that was real news, though, even if he failed to recognize it.  Romney said this:
I would not mandate at the federal level that every state do what we do, but what I would say at the federal level is we’ll keep giving you these special payments we make if you adopt plans that get everybody insured. 
While this language doesn't support the DNC's argument about a mandate, it's the same type of argument that conservatives are litigating against in Obamacare.  They say the withholding of Medicaid payments unless states expand the program is illegal control of the state governments by the federal government, and that's exactly what Romney wanted to do with the mandate program - require states to impose mandates or lose their funding.  While this argument isn't expected to do very well, the Supreme Court decided to consider it.

Romney's piled up a record that he'll have to run against if he becomes the Republican nominee.

Monday, February 27, 2012

Santorum will be the Republican nominee, in 2016


(Idle speculation time here....)

Interesting NYMag article here on the Republican race and its repercussions depending on who wins.  I'm sticking with my prediction from last August that Romney will win the nomination, and I think he'll probably (hopefully) lose the election.  Then what?

Two factors then push in the same direction in 2016 - the Republicans will turn against the faction that led the way to failure in 2012, and the Republicans strongly favor nominating the "next in line" who was closest to winning the nomination.  The NYMag article somehow misses how well Santorum would be set up in '16, especially given the inevitable claim that the Rs failed to be true to their roots by nominating Romney.

Santorum would be an exceptionally weak candidate given demographics, increasingly secular voters outside of the GOP, and increased acceptance of homosexuality.  He'll respond to this problem but he would tack slightly, only slightly, to center, de-emphasizing some social issues and maybe even changing  a bit on a few.  Mostly he'll spend the next four years raising money for himself, creating an organization, and putting deposits in the favor bank among the GOP.  He'll defeat a libertarian challenger and someone attacking him from the right.

The Ds won't be that strong, either.  The ruling party tends to get tired and accumulate scandals after eight years and will be without an obvious successor, although a 69-year old Hillary Clinton will have set herself up for running by leaving the Obama Administration four years earlier.  Balancing that out against Santorum, the Democrats win.  Then what?

I've thought for a while that Republicans need to lose consistently before they'll change.  Losing this year isn't enough, but it might be in 2016.  Hopefully more will have wakened from the Republican opium dream of climate denial.  We could see a more realistic Republican party by then.  Maybe 2020 or 2024 there will be a Republican President Chris Christie, not nearly as good as a Democrat but not a total disaster.


UPDATE, March 1:  might as well add another idle prediction - Ron Paul won't run on a third party ticket. Not for the general reason that this would make trouble for his son, but the specific reason that his son would have to choose between endorsing his father and endorsing his own party, which would be bad for Rand's future.  Blood is thicker than libertarianism.

UPDATE, March 7:  the Lamestream Media catches on to Santorum 2016.  No hat tip but I doubt I was the first to publicly notice it, and Santorum probably thought it through as a possibility when he was still a polling asterisk.

Wednesday, February 01, 2012

Romney's Kinsley Gaffe, in context


I'll leave 'poor' Mitt Romney alone for a while after this, but I wanted to highlight Chait's identification of Romney's statement that he's "not concerned with the very poor" as a Kinsley Gaffe, where a politician makes the mistake of saying something that the politician actually believes.

Romney has deliberately lied about Obama, changing Obama's statement about the McCain campaign by removing the context in order to claim it was Obama's statement about himself.  Adding context to Romney's statement doesn't help him much though - he's not concerned because the poor have a safety net, and he even generously offers to fix any holes "if" any exist.  What this indicates is his true belief that there were no holes in the safety net before the Great Recession, and that nothing the Republicans have done or plan to do will create more holes.  He further believes that the very poor don't work, or apparently don't even want to work, so they're unaffected by increased unemployment and depressed wages.

Republicans with responsibilities at local and state levels are often a little more realistic than this (I know some of them), so that a former governor can actually believe this is pretty depressing.  Massachusetts is a prosperous state, so Romney didn't have to focus on the poor in quite the same way as elsewhere, but that's not a good enough reason.

Chait's one mistake is creating a distance between Romney and his campaign.  Whatever Romney "really" believes eliminate [EDIT:  should've said "does not eliminate"] his primary responsibility for his campaign.  And his Kinsley Gaffe tells us about Romney himself.


UPDATE:  Romney backpedals and acknowledges the safety net has holes, throwing under the bus those people who backed him with statements that the poor have more than enough safety nets.  Given that he's been running for president for over six years now, I'd expect him to be able to identify at least one of those holes and what he'd do to fix it.  Since he hasn't, we can weigh his promise to identify and fix the holes with an appropriate level of credulity. 

Monday, January 09, 2012

Journalists, ask whether a President Romney will resign if Iran gets a nuclear weapon on his watch





In case the video goes away, Romney warns “If we re-elect Barack Obama, Iran will get a nuclear weapon,” he said. “If we elect Mitt Romney, Iran will not.” We need some way to rein in the blatantly untrue claims like this one, and demanding promises for consequences may be one way to do that.

After having run for office myself, I still can't get over how much worse the quality of rhetoric and campaigning is at the state and national level.  On my campaign website I described what I supported but said "I will be just one of seven Board members, so making [my issues] happen will need some help, but public support and public involvement can help push through changes...."  I believe it would've cost me politically if I made promises I couldn't guarantee, like Romney's doing.  Journalists ought to hold him accountable, or at least get a flustered response out of him.
----------------
Just to imitate the journalistic practice of false balance, here's a nice thing to say about a former Republican candidate, Rick Perry:  he was right about instituting Supreme Court term limits (via New Yorker with some helpful elaboration).  I've supported this before, I think a lot of my fellow lawyers would do the same, and I see no reason for Democrats not to do the same.

Friday, September 02, 2011

Mitt Romney to win the Republican nomination

My political prediction accuracy rate has skyrocketed in recent years, from "worth your attention for the wrong reason" to "not worth your attention." We'll see if my Romney prediction keeps the trend moving.

I know Perry's kicking butt in Republican polls right now, just like Fred Thompson did four years ago when he jumped in. That doesn't matter much to me.

What does matter is the California Republican Party example from last year. Our state Republican Party is a lifesaver to America due to its incompetence - not just the usual Republican incompetence at state and federal level* in terms of policy, but also incompetent at winning elections. The national Republican Party would be much stronger if its biggest state party wasn't so terrible.

And even this state Republican Party, last year, chose its more electable candidate over the more true-blooded conservative. They didn't win, but they gave it what they could.

I think that's an indication of how Republicans will vote. They might distrust his religion, however much he tries to unite Republicans in hatred of the non-religious, but the Tea Partiers know that the anticolonial Kenyan-born socialist has to be taken out of office, and they'll go with their best shot, which isn't Perry.

Incidentally, it'll be interesting to see if Romney repeats his pattern of loaning his millions to his campaign instead of donating them, which would open a Romney Administration to legalized bribery as after-the-election donations flow right into his personal wallet. There oughta be a law.

And in other predictions, I stuck some cash back in the stock market last week. We'll see how that goes. I've been meaning to make a small bet against gold too, but have never done that before.

And as for Romney v Obama, let's just hope for a good economy.



*the Republicans I know in local office, by contrast, aren't too bad.