Harry Reid is a Pedophile

[xoxoxoBruce]

Restrict it to counties (parishes). People would be more concerned about politicians fucking with county lines.

[Lamplighter]

Originally Posted by xoxoxoBruce

Restrict it to counties (parishes). People would be more concerned about politicians fucking with county lines.

Ummm...

The rest of Oregon is already ticked off with Multnomah County (PDX)
because Multnomah and Lane (Eugene - Univ of Oregon) counties
already carry any/all state elections by a good sized majority.

So if something is proposed that will benefit PDX, the State legislators
try to balance that issue with at least one "goodie" for the farmers, loggers, fishermen, etc.

[xoxoxoBruce]

That will alway be the case if the power resides in the people. Areas with more people will have more power.
With gerrymandering they are fucking with that premise by creating artificial population divides to create political power, usually by the party in power to benefit their own party.
Counties could be split into districts or all representatives elected at large.
But if the voting districts were restricted to within counties, it would limit their ability to grab power from the people. Counties with larger populations would of course have more representatives, hence more power, as it should be.

[ZenGum]

Have you considered multi-member electorates?

LOL, you can't even cope with preferential voting.

LOLLL some of you can't even manage a butterfly ballot paper.

[Adak]

Slush money and kickbacks were a staple of the Olympics, at the highest level. Just this year, a few more of their highest international directors, were blatantly exposed for it.

In 2000, you either went along with the prevailing way the IOC ran things (and the national IC's beneath them also had problems with this), or you had no olympics - period. Through 2012, that is still true, they are finding out.

Romney saved the Salt Lake City Olympics, when it was hanging with both feet over it's grave.

He didn't do it with great bookkeeping, and he didn't do it for free. When you have to pay contractors for over time, and double time, and triple time, you're damn right, it costs a LOT of money.

The incredible thing, is that he was able to save the Salt Lake City Olympics, at all. And, they are the ONLY Winter Olympics to date, that have shown a profit.

That's another one of those FACTS, that are of no interest to you.

I'm confident that YOU, sitting back in your recliner 12 years later, could have done a MUCH better job, however.

[Sheldonrs]

Originally Posted by Adak

..Romney saved the Salt Lake City Olympics, when it was hanging with both feet over it's grave.

He didn't do it with great bookkeeping, and he didn't do it for free. When you have to pay contractors for over time, and double time, and triple time, you're damn right, it costs a LOT of money.

The incredible thing, is that he was able to save the Salt Lake City Olympics, at all. And, they are the ONLY Winter Olympics to date, that have shown a profit....

Of course, we'll never know exactly HOW he "saved" the Olympics because he ordered all the files destroyed.

[Ibby]

Oops.

Romney Avoids Taxes via Loophole Cutting Mormon Donations
By Jesse Drucker - Oct 29, 2012 12:01 AM ET

In 1997, Congress cracked down on a popular tax shelter that allowed rich people to take advantage of the exempt status of charities without actually giving away much money.
Individuals who had already set up these vehicles were allowed to keep them. That included Mitt Romney, then the chief executive officer of Bain Capital, who had just established such an arrangement in June 1996.
The charitable remainder unitrust, as it is known, is one of several strategies Romney has adopted over his career to reduce his tax bill. While Romney’s tax avoidance is legal and common among high-net-worth individuals, it has become an issue in the campaign. President Barack Obama attacked him in their second debate for paying “lower tax rates than somebody who makes a lot less.”
In this instance, Romney used the tax-exempt status of a charity -- the Mormon Church, according to a 2007 filing -- to defer taxes for more than 15 years. At the same time he is benefitting, the trust will probably leave the church with less than what current law requires, according to tax returns obtained by Bloomberg this month through a Freedom of Information Act request.
In general, charities don’t owe capital gains taxes when they sell assets for a profit. Trusts like Romney’s permit funders to benefit from that tax-free treatment, said Jonathan Blattmachr, a trusts and estates lawyer who set up hundreds of such vehicles in the 1990s.

Near Zero

“The main benefit from a charitable remainder trust is the renting from your favorite charity of its exemption from taxation,” Blattmachr said. Despite the name, giving a gift or getting a charitable deduction “is just a throwaway,” he said. “I used to structure them so the value dedicated to charity was as close to zero as possible without being zero.”
When individuals fund a charitable remainder unitrust, or “CRUT,” they defer capital gains taxes on any profit from the sale of the assets, and receive a small upfront charitable deduction and a stream of yearly cash payments. Like an individual retirement account, the trust allows money to grow tax deferred, while like an annuity it also pays Romney a steady income. After the funder’s death, the trust’s remaining assets go to a designated charity.
Romney’s CRUT, which is only a small part of the $250 million that Romney’s campaign cites as his net worth, has been paying him 8 percent of its assets each year. As the Romneys have received these payments, the money that will potentially be left for charity has declined from at least $750,000 in 2001 to $421,203 at the end of 2011.

Tax Returns

The Romney campaign declined to answer written questions about the trust.
“The trust has operated in accordance with the law,” Michele Davis, a campaign spokeswoman, said in an e-mail.
Paul Comstock, a financial adviser to LDS Philanthropies, an arm of the Mormon Church, said that while he wasn’t familiar with the trust, Romney and his trustee might arrange to compensate the church for the dwindling amount with other gifts.
“It may be that they’ve made provisions for the charity someplace else that will make up for what this isn’t going to give them,” Comstock said.
Bloomberg News obtained the trust’s tax returns from 2007 to 2011 from the Internal Revenue Service. Romney hasn’t disclosed the trust’s tax returns and is under no legal obligation to do so. He did make some disclosures about the trust’s investments in Massachusetts filings from 2002 to 2007 and as a presidential candidate in the current campaign.

After Death

Funds held by Romney’s trust are scheduled to be distributed after the death of Romney and his wife to “a charitable organization to be designated by Romney,” according to the 2007 filing, disclosing assets he held while governor of Massachusetts. “In the absence of such a designation the funds will go to the Church of Jesus Christ of Latter-Day Saints.”
Davis declined to comment on whether Romney has designated another charity since then.
Romney has been an active member of the church, which expects members to donate 10 percent of their income. Over the years, he has donated millions of dollars of stock in Bain-owned companies to the church, securities filings show.
The church recommends such trusts on its website as one of many options for donors.
“Probably one of the advantages of a charitable remainder trust is that it helps with capital gains tax,” said Carl McLelland, an attorney in the planned giving office for LDS Philanthropies.

Capital Gains

CRUTs were more common in the 1990s when capital gains rates were higher. In 1996, when Romney set up his trust in Massachusetts, the federal rate was 28 percent, compared with 15 percent today. At the time, a Massachusetts state resident who sold shares for a gain of $1 million could have faced a combined state and federal capital gains tax of as much as 40 percent, reducing his take to $600,000.
By contrast, if he contributed the stock to a CRUT, and it sold the shares, it typically wouldn’t owe any tax since it is a charitable trust. The CRUT could reinvest the $1 million and earn a return on the full amount.
“The power of this is the tax deferral,” said Jay A. Friedman, a partner at accounting firm Perelson Weiner LLP in New York. “The money is all growing tax free and he only pays tax on what is distributed to him.”
Concerned that CRUTS weren’t sufficiently philanthropic, Congress mandated in July 1997 that the present value of what was projected to be left for charity must equal at least 10 percent of the initial contribution. Existing CRUTS weren’t affected by the new law.

Dwindling Principal

Romney’s trust was projected to leave to charity an amount with a present value of a little less than 8 percent of the initial contribution, according to an analysis by Friedman. Thus, the specifics of Romney’s trust wouldn’t have passed legal muster if it had been set up 13 months later, he said.
Because the trust’s investments have been earning a return far below its annual payouts to the Romneys, its principal has dwindled rapidly.
In 2001, five years after it was established, the trust had a value of between $750,000 and $1.25 million. Since then, it has pursued a conservative investment strategy -- regardless of the ups and downs of the stock market -- buying a mix of money- market funds, federally-backed bonds and federal bond funds. Since 2007, it has moved its assets entirely into cash. By 2011, its investments earned a return of $48, down from between $60,001 and $100,000 in 2001. It paid $36,696 to the Romneys in 2011.

Romneys Favored

The current investing strategy favors the Romneys over the charity because they get a guaranteed payout, said Michael Arlein, a trusts and estates lawyer at Patterson Belknap Webb & Tyler LLP.
“The Romneys get theirs off the top and the charity gets what’s left,” he said. “So by definition, if it’s not performing as well, the charity gets harmed more.”
The trustee for Romney’s CRUT is R. Bradford Malt, chairman of the law firm Ropes & Gray LLP, and manager for Romney’s various family trusts as well as his personal attorney. Ropes & Gray has also been for years the main outside counsel for Bain Capital.
If the CRUT maintains the same investing strategy, assets will continue to shrink, said Jerome M. Hesch, a tax and estate planning attorney at the law firm Carlton Fields. The trustee acted prudently in protecting against losses during a stock market decline, he said.
Nevertheless, “what’s going to go to charity is probably close to nothing,” Hesch said.

waiting for your retraction, classic!

[ZenGum]

It must be fun to be the fox in charge of the hen house.

[Aliantha]

You know, if you want to talk about gerymandering, you should talk to a Qld'er. We were in a gery state for about 20 years during my childhood and early adulthood. Some electorates only had about 5 people living in them! And they were the ones the National party relied on to get them into power every election for 2 decades.

Whether the party did a good job or not is beside the point. When the farmers are getting the say in how the state is run wholus bolus and people in other industry and urban areas have no say, life is not good for some. Many in fact. And that's not even talking about the criminal corruption evident at the time!