Wednesday, August 8, 2012

Romney says Obama favors 'culture of dependency'

Name me a leftist politician or government and I will show you a push for government to be your mommy and daddy. Obama is no different.

Republican Mitt Romney accused President Barack Obama on Tuesday of ditching a long-standing work requirement for welfare recipients, accusing him of fostering a "culture of dependency" and backing up the charge with a new television commercial.

White House press secretary Jay Carney said the allegations were "blatantly dishonest ... hypocrisy knows no bounds." He added that Romney, while serving as Massachusetts governor, had once petitioned the White House to loosen employment rules for those on welfare.

Former President Bill Clinton joined the fray, saying in a statement Tuesday night that the TV ad's assertion was "not true" and that the ad was misleading.

Romney made his accusation in a relatively rare occurrence in the race for the White House — an appearance before voters outside the small group of battleground states likely to settle the Nov. 6 election.

Russia fails miserably to Deliver Satellites..again

That Russian space delivery program is working as expected..
A Russian booster rocket carrying two telecommunications satellites malfunctioned during a launching early Tuesday, failing to deliver the satellites into their proper orbit and rendering them useless and unsalvageable.

The mishap was another blow to Russia’s space program, which has been plagued by malfunctions, crashes and failed launchings. The failure was particularly glaring because it came just hours after NASA’s successful landing of a research probe on Mars.

Acknowledging the starkly different outcomes, Deputy Prime Minister Dmitri O. Rogozin, who oversees Russia’s military industry, suggested in a Twitter post that the national space agency, Roscosmos, was struggling because of aging leadership. “As long as the youngest Roscosmos director is 62, we can only dream of Mars rovers,” Mr. Rogozin said.

The cause of the failure is under investigation, officials said.

The satellites, worth about $45 million, were intended to provide telecommunications services for Indonesian and Russian customers. They were carried by a Proton rocket, with a Briz-M booster, launched from Russia’s Baikonur space center in Kazakhstan.

France's 75% tax hike a cover for socials cuts in the future.

It didn't make sense if you think about it for a 75% hike on the rich since they would all have the ability to leave, now with some context you realize that France is a country filled with people who are living off the government like ticks off a dog and it can't continue. so its distraction time.
A chill is wafting over France’s business class as Mr. Hollande, the country’s first Socialist president since François Mitterrand in the 1980s, presses a manifesto of patriotism to “pay extra tax to get the country back on its feet again.” The 75 percent tax proposal, which Parliament plans to take up in September, is ostensibly aimed at bolstering French finances as Europe’s long-running debt crisis intensifies.

But because there are relatively few people in France whose income would incur such a tax — perhaps no more than 30,000 in a country of 65 million — the gains might contribute but a small fraction of the 33 billion euros in new revenue the government wants to raise next year to help balance the budget.

The French finance ministry did not respond to requests for an estimate of the revenue the tax might raise. Though the amount would be low, some analysts note that a tax hit on the rich would provide political cover for painful cuts Mr. Hollande may need to make next year in social and welfare programs that are likely to be far less popular with the rank and file.

In that regard, the tax could have enormous symbolic value as a blow for egalité, coming from a new president who has proclaimed, “I don’t like the rich.”

“French people have an uncomfortable relationship with money,” Mr. Grandil said. “Here, someone who is a self-made man, creating jobs and ending up as a millionaire, is viewed with suspicion. This is big cultural difference between France and the United States.”

Many companies are studying contingency plans to move high-paid executives outside of France, according to consultants, lawyers, accountants and real estate agents — who are highly protective of their clients and decline to identify them by name. They say some executives and wealthy people have already packed up for destinations like Britain, Belgium, Switzerland and the United States, taking their taxable income with them.

They also know of companies — start-ups and multinationals alike — that are delaying plans to invest in France or to move employees or new hires here.

The bolded is a pretty sad indictment of the french people.

Half the nation’s households earn less than 19,000 euros a year; only about 10 percent of households earn more than 60,000 euros annually, according to the French statistics agency, Insee.

There is currently no plan to change the tax rates for most people, which is 14 percent for the poorest and 30 percent for the next rung. For higher earners — people with incomes above 70,830 euros a year — the tax rate will soon rise to 44 percent, up from 41, in a change that was already set before Mr. Hollande’s election.

A tax accountant in Paris with many wealthy clients, Steve Horton, has calculated that a two-parent, two-child household with taxable annual income of a bit more than 2.22 million euros ($2.75 million) now has after-tax take-home pay of about 1.1 million euros ($1.35 million) under France’s current tax system.

That household would end up with 780,000 euros, or $966,000, if the Hollande tax took effect, Mr. Horton says. (The same family, with comparable income in Manhattan, would take home $1.55 million, the dollar equivalent of 1.25 million euros, after paying federal, state and city income taxes, he calculated.)