The Latest Romney Flip Flop

Last week Romney called the Occupy Wall Street protests "class warefare" and "dangerous" now he understands their concerns. I guess the wind changed direction or something.



http://www.rawstory.com/rs/2011/10/11/romney-flip-flops-on-protests-i-worry-about-the-99-percent/

 

If this guy does any more waffling, somebody's gonna pour syrup on him! At this rate, he'll be running on the Democrat ticket for the simple fact that he's run out of Republican ideas to recycle! His bumper stickers are gonna be twenty feet across to accommodate all the things he says he stands for! Or maybe they'll give out scrolling bumper stickers that change slogans as often as he changes positions!

 

Too bad he's all they've got now that their Great White Hope from Jersey has said he's not interested this time around.

 

Yet, as I see it, he's got a significant chance at becoming our President.



I think I just threw up a little.

 

I felt the same way about Obama in 2008... Here it is 2011 and nothing has changed. Would you like a couple of Tums? I've stockpiled them since Obama was selected.

 

I beg to differ, since BO got selected a lot has changed. Unemployment is much higher, confidence is lower, wages are down and our credit rating was destroyed. Class warfare is prevalent, people are in the streets protesting who knows what, the student loan debt bubble is getting ready to burst, property values have tanked, everything is stagnant & our "leader" has no clue how to make it better. I would have to say many things have changed.

 

Forgive me, when I said "nothing has changed" I meant that my dislike for his policies has not changed. Certainly, since he's been in the driver's seat, we've been steered waaaaaaaaaay off course.

 

It's funny to hear Dims claim Repub policy drove us into the ditch. What has Dim policy done? Driven us over the cliff?

 

Hahah, Yes, he's driven us over the cliff, but not before causing us to spin out of control and hit a wall first. Unfortunately, this was caused by his reckless driving.

 

Can you actually point to any specific legislation or is speaking in generalities good enough for the Right? I can't even figure out which cliff you are alluding to here. Is it the economy that was in the toilet when he walked into office? Is it the unemployment situation that had us losing 750 thousand jobs a month when he walked into office? Is the national debt that skyrocketed due to unfunded mandates like Medicare Part D, Two wars kept off the books, two enormous tax cuts and with no tax increase to pay for costly wars? Is it the TARP money used to bailout the banks? Is it all these things already in place before Obama ever walked into office that you are now crediting him for because everything began in January of 2009? Please use a few specifics because just talking about cliffs and walls and reckless driving is just hyperbole without any substance.

 

Legislation that does what? Drives us off a cliff? Try Obamacare. Try Dodd-Frank.

 

Dodd-Frank was actually enacted to prevent another meltdown from happening over two years after the most recent meltdown happened because regulations such as DF enacted were not in place at the time. Hard to really blame Dodd-Frank for the current economic disaster. The Patient Protection and Affordable Care Act doesn't go into effect until around 2014. It's a little hard to also blame it for the current economic disaster that happened if you'll remember in 2008.
Try again. Any legislation? You want to give Wall Street Carte Blanche to bring this country to its knees one more time. You have complete amnesia when it comes to derivatives, junk bonds, hedge funds, and the rest of the Voodoo investments that nobody could explain but ended up in bringing us the biggest market crash since the great depression. You also want to put insurance companies back in charge of fleecing consumers and forcing millions of people out of the market. I guess if people can't afford insurance, they should just get to the businesses of dying.

 

You need to read up on DF. Why do you think you cannot get a home mortgage? Why do you think banks have increased their fees?
As for Obama care not taking effect until 2014, I guess thewse haven't happened yet;

http://www.humanevents.com/article.php?id=36281

 

Well, all one has to do is look at the depth of the recession to realize this economy was sinking like a rock and not likely to turn around in 2 years. Of course, the GOP voting en masse to shrivel or stop every effort to get folks back to work will not help. On the other hand, a lot has changed. There's the Occupy Everywhere movement,which has brought people together to take an active role in the government once again, which is a very hopeful sign, in that they are supported broadly among the general public. There is a revitalized automotive industry, and lots of saved jobs, thanks to targeted loans. The economy is no longer bleeding jobs -- look at any chart to see what layoffs looked like in 2009, thanks to Bush. And of course, Osama Bin Laden is dead, Gaddafi is dead, we are pulling out of Iraq, and the Obama Doctrine of a small,strategic military footprint is firmly in place.

 

Last time I checked, banks were reporting record profits, paying out huge bonuses, and sitting on billions of dollars we gave them. I don't think they are hurting.

I also see nothing in the list of the PPACA rules that would cause this country to fold financially. What are you suggesting that a 10% tax on indoor UV tanning is causing us to go down the economic drain? Maybe it's the increased adoption tax incentives for 2 years? Or maybe it's that it allows dependents to stay on parents’ policies through age 26 . I just don't see it.

Keep tryin'. You got spunk kid.

 

Romney and Eric Cantor should have plenty to chat about,then! Seems like the continued popularity of the Occupy movement caught the Republicans and their presidential hopefuls by surprise. The initial wave of Republican and right-wing mockery and trash-talking has subsided quite a bit, except for the ranting and raving on the extreme right-wing blogs and sites. So Romney's once again demonstrating why no one else in the candidate group stands much of a chance at out-politicking him. He's smart, which is why he's so wily. Now that he has embraced the Occupy folks, is he smart enough to find a way to get the evangelicals and Perry-krishnas to actually vote for him?

I guess anything can happen!

 

I never fails to amaze me that when the Republicans gain control of 1/3 of the government, they get 100% of the blame. However, when the Democrats had 100% control of the government, the Republicans got all the blame for whatever the Democrats could not get accomplished - not the least of which was sink the economy. Oh, and guess who controlled 2/3 of the government in 2009 (and 2006, 2007, and 2008, for that matter). Funny, but I think I see a trend here.

 

You need to read DF. If you can understand it, you might have some valid comments.

So, now you are admitting Obamacare "doesn't go into effect until around 2014" was mistaking?

Regardless of when it goes into effect, companies trying to prepare for its expenses (as they are required to do by law) has an effect on the economy. You may argue the significance of that effect, but not that it is there.

 

The major components of the PPACA do not go into effect until 2014. If you want to split that hair, knock yourself out. Obviously some rules were enacted sooner than others.

Oh I see what you are saying. The fact that more people will have to buy health insurance is going to make the insurance industry suffer. The fact that small businesses have the option to not provide health insurance and still have employees with health coverage is going to be too expensive for them. But ultimately, it is the unsubstantiated assertion that corporate America is "trying to prepare for its expenses" that accounts for the economy in such bad shape. Got it.

 

It's phased in incrementally; some of it has already taken effect:

2010
§ Small business health tax credit: This will do little to nothing to help small firms afford insurance. The credit is very restrictive and puts small business owners through a series of complicated tests to determine the actual amount of the credit. (1) Very few small firms will receive the full credit (only firms with 10 employees or less). For firms with 11-25 employees, the credit is reduced per employee. Firms with more than 25 employees get NO credit. (2) Only firms who pay their workers $25,000 or less are eligible for the full credit. The credit is reduced as the average wage goes up, stopping at $50,000. The credit is only available for a maximum of five years.
§ Brand-name drug tax: Manufacturers and importers of brand-name drugs will pay a tax of $2.3 billion. This cost will be passed on to consumers.
§ Age 26: Children may stay on their parents’ policies until age 26.

2011
§ W-2 reporting: Employers will be required to report employees’ health benefits on W-2s.
§ HSA & FSA limits: Consumers can no longer use HSAs and FSAs to purchase certain items, including most over-the-counter medication prescribed by physicians.
§ HSA penalty: The penalty for making non-qualified purchases with an HSA increases to 20%.
§ FSA limits: Cafeteria plan FSAs will be limited to $2,500 (inflation adjusted after 2011.)
§ Medicare cuts: Physicians’ Medicare reimbursement will be cut substantially unless Congress enacts the so-called “doc-fix” to restore their payment levels.
§ Medical device tax: Manufacturers and importers of certain medical devices will be taxed $2 billion per year (for 2011-2017) and then $3 billion per year thereafter. These costs will ultimately fall on the consumer.
§ Small business health insurance tax: An annual fee on health insurance providers will be passed on to consumers. This tax will fall on the vast majority of plans that small businesses purchase, but not on self-insured plans (such as most big business and labor union policies). The amounts are $2 billion for 2011, $4 billion for 2012, $7 billion for 2013, and $9 billion per year for 2014 through 2016, $10 billion thereafter, with certain exceptions.
§ Tanning salon tax: A 10% excise tax on indoor tanning services begins.
§ Federally subsidized long-term care: Voluntary payroll deductions begin for the CLASS long-term care program. All working adults will be automatically enrolled unless they choose to opt out. This program will almost certainly cost the federal government far more than what the payroll deductions will cover. So this entitlement is yet another unfunded liability to add to federal deficits for decades to come.

2012
§ 1099 reporting: Businesses will have to complete 1099 forms for every business-to-business transaction of $600 or more – a tremendous new paperwork burden for small business.

2013
§ Cadillac tax: The government will collect a so-called “Cadillac Tax” – a 40% excise tax on health coverage in excess of $8,500 annually for an individual or $23,000 annually per family. This tax is inadequately indexed for medical inflation, so as healthcare costs rise, more and more people will be swept into this tax each year. This is similar to the alternative minimum tax – designed to hit the “rich” but reaching farther and farther into the middle class each year.
§ Fewer deductible medical expenses: New limits are placed on the deductibility of medical expenses on individual income tax returns. This provision raises the 7.5% AGI floor on medical expenses deductions to 10%. The AGI floor for those 65 and older (and their spouses) remains at 7.5% through 2016.
§ Medicare payroll taxes: The Medicare payroll tax on wages and self-employment income in excess of $200,000 ($250,000 joint) will increase to 2.35% and is not indexed to inflation. This tax marks the first time that funds designated for Medicare will be diverted elsewhere – specifically to pay for the insurance policies of people under the Medicare age. This establishes a precedent for treating the payroll tax as a revenue raiser for other purposes.

2014
§ Health insurance exchanges: Up until 2014, the bill collects a great deal of taxes but does little to change healthcare. In 2014, that begins to change with the opening of insurance exchanges.
§ Premium credits: The federal government begins subsidizing individuals up to 400% of the federal poverty line – around $88,000 today. These credits will subsidize individuals purchasing insurance in exchanges, but not those with traditional employer-sponsored plans.
§ Medicaid eligibility expands: The income level for Medicaid eligibility rises, bringing tens of millions of new people into Medicaid. This Medicaid expansion will account for around half of the total increase in insurance coverage and will place considerable new financial pressure on states, with higher taxes a likely response.
§ Medicare cost-cutting: Beginning in 2014, Medicare must begin recommending ways to cut costs in the provision of care.
§ Benefits package: Federal government defines essential benefits package. All policies must comply.
§ Individual mandate: Starting in 2014, all U.S. citizens and legal residents must have qualifying health coverage or pay penalties. For an individual, the penalty begins in 2014 at the greater of $95 or 0.5% of household income. In 2015, it grows to $495 or 1.0%. In 2016, it reaches $750 or 2%. (For families, the figure will be $2,250.) After 2016, the amount will rise by a cost-of-living adjustment.
§ Employer mandate: The bill contains a complex employer mandate requiring some firms to provide insurance, pay penalties or both. The penalties are based on (1) the number of full-time employees, (2) whether or not the firm offers coverage, and (3) whether or not one or more employees qualify for government subsidies toward the purchase of health insurance. An employee qualifies for a subsidy if his or her household income is below 400% of the federal poverty line ($88,000 for an individual today). Here are some of the rules:
o More than 50 full-time employees. Does not offer insurance. Has one or more employees receiving premium subsidies. Penalty = $750 per employee.
o More than 50 full-time employees. Offers insurance. Has one or more employees receiving premium subsidies. Penalty = lesser of $3,000 per subsidized employee or $750 per employee.
o More than 50 full-time employees. Offers insurance. Has no employees receiving premium subsidies. No penalty.
o 50 or fewer full-time employees. No penalty.
There are extra penalties for firms who have a waiting period before employees are eligible for insurance.
§ Small construction company employer mandate: In all other industries, firms with 50 or fewer employees are exempt from the mandate. In the construction industry, the exemption only applies to firms with 5 or fewer employees. Consider a construction firm that does not provide insurance and which has seven employees and a payroll of $250,000. This firm will owe $5,250 (= 7 employees x $750). In addition, the law does not define what it means by “construction firm” and leaves that definition to regulators.