A major theme in Obama ads is the accusation that McCain support “tax breaks for shipping jobs overseas” and that Obama will “end them”. What exactly is this tax break? To listen to the Obama campaign you would think that there is a line on the corporate tax forms labeled “How many jobs have you shipped overseas” with a multiplier to make a tax break.
You will not see that line on a corporate tax form. What the Obama campaign is referring to is a policy called “deferral”. Deferral allows corporations to defer paying taxes on profits earned and being used overseas. Taxes are paid when (sometimes if) those profits are “repatriated”—i.e. brought back to the United States. If I read the information correctly, this provision has been around since the early 1960’s.
Obama is simplifying here. This is understandable, but we really need to know a couple of things. First, are these “tax breaks” actually causing jobs to go overseas? Second, what does he mean by ending these “tax breaks”? Third, what would be the implications of ending these “tax breaks”?
The answers below the fold: (more…)
“Southern Indiana showed up for Governor Palin. The crowd of over 20,000 was loud and energized. According to the News and Tribune, 2,000 people showed up in Jeffersonville for Senator Biden last month and I know that number is a stretch. I believe that this strong turnout is indicative of the fact that the McCain/Palin ticket is more compatible with Hoosier values and beliefs.”
Just some assorted links and such for your Thursday Reading:
“Barack Obama was less than upfront in his half-hour commercial Wednesday night about the costs of his programs and the crushing budget pressures he would face in office.”
And finally (after the leap):
Published in the Indiana Daily Student, October 30, 2008
To the Editor:
In your editorial of October 29, you write “neither Jill Long Thompson nor (Mitch) Daniels is running on a platform of serious change or upheaval.”
Where has the IDS Editorial Board been for the last four years? Governor Daniels has pushed through a number of major public policy initiatives, including the “Major Moves” plan to upgrade infrastructure throughout the state, Daylight Savings Time, leasing the Toll Road (which provided a huge sum of money for infrastructure improvements), privatizing aid to the poor, major property tax reform, and a balanced budget. Students should pay attention to property taxes because property taxes are a cost of doing business for landlords and are therefore reflected in your rent.
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Yard sign stealing and destruction seems to be common these days and apparently it crosses party lines. I know that in the area in which I live, McCain/Palin signs that used to line streets are now disappearing at the an alarming rate. Some are replaced with Obama signs (could the voter have changed their minds…not likely as the Obama signs that replaced them were gone faster than the original McCain signs. Some have been replaced with new McCain signs), some have the yard sign stakes left behind, but the sign itself is gone.
This is going on all across the country as we’ve chronicled here before. But now, there is a way to trap your sign to prevent some idiot from taking it. And believe it or not, this tip comes from a Daily Kosack. What can I say. When something is a good idea, it’s a good idea no matter who came up with it.
(You lurkers could even use these tips to keep your beloved Obamassiah signs out of the hands of us nefarious right-wingers.)
See the tips after the leap. (more…)
From WISH TV:
INDIANAPOLIS - A Statehouse scandal is now an issue in the race for attorney general. Democrat Linda Pence is under fire from Republicans for her role in an old case.
When State Senator Sam Smith went to court six years ago accused of tax evasion, Linda Pence was his defense attorney. Smith eventually made a plea deal and paid his back taxes, but the case is back in a campaign commercial purchased by Indiana Republicans that criticizes Pence’s choice of clients.
Both the Pence and Greg Zoeller (R) campaigns have traded attack ads. The Pence campaign said it welcomes comparisons.
“People come to Linda Pence because she’s good and she’s effective and she’s a fighter and she wins. So we’re not surprised at all that they’re gonna attack Linda’s clients. Her shoulders are broad, she can take that,” said Joel Miller of the Pence campaign.
Meantime Republicans believe Sam Smith could be a deciding factor in a close race.
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In this last few days before election day, I’m going to keep on trying to remind people that as serious as next Tuesday is and how we need to all get out and vote, we also need to keep a sense of humor.
So here’s a tip of the hat to our Federal Government which, as I’m sure you’ve seen and are tired of the reminders, has required that all television signals be digital by February of next year. Otherwise, you’ll never see the Colts play again. That is, unless you’re on Brighthouse, then you’re not seeing the Colts now.
(Note - Joel informs me in the comment section that Brighthouse is now carrying CBS again. So I guess that takes care of that “lame attempt humor”.)
The Chicago Tribune observes that Mitch Daniels won’t be at the Sarah Palin rally in Jeffersonville today, but that he might try to stop by outside to say hello and talk to some folks as they stand in line.
JEFFERSONVILLE, Ind. - Gov. Mitch Daniels will skip a Sarah Palin campaign rally in Indiana for the third time in 12 days when she visits Jeffersonville on Wednesday, but he’ll make an appearance in the parking lot before the event.
Daniels, who supports the John McCain-Palin ticket, said he has a scheduling conflict while he campaigns for a second term. The Republican governor will be in vicinity of Palin’s rally at a Jeffersonville warehouse, but at another site.
“When they only give us 48 hours’ notice … we plan a little further out than that. I’ve not been willing to cancel on people who have made plans in preparation for our coming,” Daniels said at a news conference in Indianapolis on Tuesday to kick off a southern Indiana campaign swing.
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Recovering former Democrat, Jeopardy! Champion, Libertarian candidate for HD100, and recent Hoosier Access Radio guest Ed Angleton ran this mailer recently pointing out that if a voter were to “pull the R lever” without going downballot and scratching for the Libertarian then it’s the same as voting for the Democrat incumbent. As we all know this district has no Republican candidate.

H/T Advance Indiana