Archive for June, 2016

Hillary Clinton – News, Articles, Biography, Photos – WSJ.com

Clinton notches wins in Pennsylvania, Maryland, Delaware and Connecticut, in a showing that makes her the all-but-certain Democratic presidential nominee.

Hillary Clinton blasted Republican Donald Trump on race and equality issues Sunday, warning that the progress made on President Barack Obamas watch could be wiped away if the businessman is elected president.

Conservative billionaire Charles Koch raised the possibility of supporting Democratic front-runner Hillary Clinton for president, saying she might make a better leader than any of the current Republican candidates.

Eight years after helping Hillary Clinton win the Pennsylvania primary over Barack Obama, former Gov. Ed Rendell renewed his support for the former secretary of state with pointed jabs at her Democratic rival, Bernie Sanders, at a rally outside Philadelphia.

Former Secretary of State Hillary Clinton won the New York primary on Tuesday, further solidifying her lead in the Democratic delegate race.

Hillary Clinton and former President Bill Clinton casts their votes in their adopted hometown of Chappaqua, N.Y. They were greeted warmly, with pro-Hillary signs and chants surrounding them and no evidence of support for rival Bernie Sanders.

Even after the Democratic nomination appeared out of reach for Hillary Clinton in 2008, she continued to raise doubts about Barack Obamas viability in the general election.

Donald Trump and Hillary Clinton looked poised to build on their momentum-shifting wins in New York with victories in the Pennsylvania primariesTuesday, a new Wall Street Journal/NBC News/Marist poll shows.

Hillary entered the race hoping to revive the Clinton era. Now she has betrayed it.

Hillary Clinton decisively won her home-state primary, shutting down one of the few remaining chances for rival Bernie Sanders to slow her march to the Democratic presidential nomination.

Democratic presidential front-runner Hillary Clinton closed out the race for New York with an aggressive outreach to women and nonwhite voters, while rival Bernie Sanders drew big crowds before Tuesdays primary.

Sen. Bernie Sanders has all but eliminated Hillary Clintons primary polling lead, a new Wall Street Journal/NBC News poll finds, though the Democrats presidential front-runner still appears to have an advantage over her potential GOP opponent.

Hillary Clinton won Tuesdays Democratic presidential primary in Connecticut, defeating rival Sen. Bernie Sanders.

Anticipating that Republican presidential front-runner Donald Trump will try to soften his tone, Hillary Clinton's campaign released a web video Saturday that cautions voters not to buy into his "extreme makeover."

Democratic presidential front-runner Hillary Clinton, campaigning in Pennsylvania, is increasingly turning to the themes likely to dominate a potential general-election campaign against Donald Trump.

Democratic presidential front-runner Hillary Clinton sought the support of building-trades union leaders in Washington, promising to rebuild Americas infrastructure, create more good-paying union jobs, and protect collective-bargaining rights in her continued quest for organized labors backing.

How much damage is Clinton absorbing at the hands of Sanders? Its hardly fatal but starting to matter, especially in her standing with crucial independent voters, Gerald F. Seib writes.

Hillary Clinton seems likely to win the Pennsylvania primary with support from a much more upscale and urban coalition than she had eight yearsago, a shift that could have big implications forthe general election.

Vermont Sen. Bernie Sanders on Sunday adopted a more conciliatory tone toward Democratic presidential front-runner Hillary Clinton, pledging to do whatever it takes to stop Republicans from winning the White House.

Donald Trump isnt backing offin fact, hes upping the ante--on his claim that Hillary Clinton would be nowhere in politics if she weren't playing the womans card.

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Hillary Clinton - News, Articles, Biography, Photos - WSJ.com

The Economic Effects of Rand Paul’s Tax Reform Plan | Tax

UPDATE: The Tax Foundation has updated its economic and revenue estimates for Rand Paul's tax reform plan. The new estimates are based on the latest version of the Taxes and Growth (TAG) Model (the October 2015 version). More details on the update at the bottom of the page.

Senator Rand Paul (R-KY), a candidate for president, recently announced his plan to reform the U.S. tax code. His proposal, the Flat and Fair Tax, would move to a 14.5 percent tax rate on all types of income with a sizable deduction and exemption, eliminate the corporate tax to create a 14.5 percent business transfer tax paid by businesses on profits and wages, introduce full expensing for investments in capital, and eliminate the payroll tax on both the employer and employee.

Our analysis finds that Senator Pauls plan would grow the economy by 12.9 percent in the long run, create 4.3 million jobs, and cost $1.8 trillion over ten years on a static basis and raise $737 billion when accounting for economic growth.

Structure of the Tax Reform Plan

Sen. Paul would make a number of changes to the tax code for individuals. He would replace the current seven tax bracket structure with a flat rate of 14.5 percent and apply that tax rate to all income wages and salaries, capital gains, dividends, interest, and rents.

The plan would include a $15,000 standard deduction (per filer) and a $5,000 per person personal exemption. This means that a family of four would pay no income tax on their first $50,000 of income ($55,000 for a family of five, etc.).

Retirement accounts remain as they currently are and in our modeling we assumed that the exclusion for employer-provided health care remains.

The plan retains home mortgage and charitable deductions, the earned income tax credits, and the child tax credit and eliminates all other tax credits and deductions.

The plan would eliminate the payroll tax, the estate tax, and all customs duties and tariffs.

On the business side, the plan would eliminate the corporate tax, create a territorial type system, and introduce a 14.5 percent business transfer tax. This tax would be levied on a businesss factors of production and tax all capital income (profits, rents, royalties) and all labor payments (wages and salaries). All capital expenses (machines, equipment, buildings, etc.) are fully expensed in the first year, which would do away with current depreciation schedules. This tax would also apply to wages paid by governments and nonprofits.

The Economic and Revenue Estimates of the Plan

According to our Taxes and Growth Model, Senator Pauls tax reform proposal would increase GDP by 12.9 percent by the end of roughly 10 years (it may be shorter or longer depending on how long it takes business to pull permits for new buildings, supply chains to adjust, etc.). This is equivalent to average additional growth of a little under 1.2 percentage points per year.

This growth is largely due to a cut in the service price of capital, which is a result of lower taxes on businesses and investment, specifically the tax cut to 14.5 percent on business profits, the 14.5 percent rate on capital gains and dividends, and the shift to full expensing. These tax changes result in an increase of the capital stock of 40.5 percent by the end of the adjustment period and results in higher after tax wages of 5.5 percent.

Additionally, the tax cut on wage income to 14.5 percent also increases the incentive to work and results in 3.5 percent additional private business hours of work. This is equivalent to 4.3 million full-time jobs.

On a static basis, Senator Paul tax reform plan would lose nearly $2 trillion over a ten-year period, with an average annual cost of about $200 billion. If we account for the growth of the economy, over time this would lead to smaller tax costs. We estimate that the plan would end up raising an additional $737 billion over the budget window.

The Rand Paul Flat and Fair Tax with a 14.5% Income Tax Rate and a 14.5% Business Transfer Tax

Economic and Revenue Change Estimates vs Current Law

GDP

12.9%

Capital Investment

40.5%

After-Tax Wage Rate

11.4%

Full-time Equivalent Jobs (in thousands)

4,300

Static Federal Revenue Estimate, GDP Assumed Constant (annual, billions of current $)

Static, Final Year

-$257

Static, 10-Year Budget Window (2015-2024)

-$1,797

Dynamic Federal Revenue Estimate after GDP Gain or Loss (annual, billions of current $)

Dynamic, Final Year

$64

Dynamic, 10-Year Budget Window (2015-2024)

$737

Source: Tax Foundation Taxes and Growth Model.

Distributional Analysis

On a static basis, Senator Pauls plan would increase after tax income a total of 4 percent across all taxpayers. When not considering growth, it would have little to no effect on after tax income for those making under $10,000 of income and increase after tax income to varying degrees for all other income groups.

The little to no change in after tax income for filers with AGI under $10,000 is due to the elimination of the payroll tax and how that would interact with the change in labor compensation due to the business transfer tax, which has a secondaryeffect related to the phase-ins of the child tax credit and the earned income tax credit. On the whole, many people in this income group would likely receive a tax cut.

On a dynamic basis, the plan would increase after tax incomes by a total 16 percent for all income groups. Filers with income below $10,000 would see their income increase by over 10 percent. Taxpayers in income groups between $20,000 and $75,000 would see their incomes go up by about 14. Those with incomes above $500,000 would see their incomes go up over 20 percent.

The Distributional Effect of Rand Paul's Tax Reform Proposal

Distributional Analysis of "Flat and Fair Tax," All Returns with Positive Adjusted Gross Income

Adjusted Gross Income Class

Changes in Static After Tax AGI

Changes in Dynamic After Tax AGI

0 - 5,000

*

11%

5,000 - 10,000

*

11%

10,000 - 20,000

1%

12%

20,000 - 30,000

2%

14%

30,000 - 40,000

2%

14%

40,000 - 50,000

3%

14%

50,000 - 75,000

3%

14%

75,000 - 100,000

3%

14%

100,000 - 150,000

3%

14%

150,000 - 200,000

3%

15%

200,000 - 250,000

4%

15%

250,000 - 500,000

7%

19%

500,000 - 1,000,000

10%

23%

> 1,000,000

13%

27%

TOTAL FOR ALL

4%

16%

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The Economic Effects of Rand Paul's Tax Reform Plan | Tax

George Zimmerman’s gun may still be up for auction – cnn.com

The top bidder for a time was one "Racist McShootface," although other bids from a "Tamir Rice" -- the name of a Cleveland child killed by police last year -- also appear in the list of offers for the weapon Zimmerman used in his 2012 Sanford, Florida, confrontation with 17-year-old Martin.

The "Racist McShootface" bids were deleted Friday morning from the United Gun Group auction site, but the trolling prompted one apparently serious bidder to call the trolls "losers" and express hope that their "children get murdered."

"Obviously the jury didn't think it was murder," the bidder identified as Brez Morrell posted of Zimmerman's 2013 acquittal. "He did nothing wrong."

The $65 million bid was later replaced by one from a user named Craig Bryant. It was unclear if that bid was serious.

Zimmerman -- seen by some as a national pariah and by others as a hero -- announced plans to sell the Kel-Tec PF-9 weapon on Wednesday. The 9mm pistol carries a suggested price of $356.36 on the manufacturer's website.

On Friday afternoon, United Gun Group posted a statement to Twitter expressing condolences to Martin's family, but appearing to support the continuation of Zimmerman's auction.

"Unless the law has been violated, it is the intention of United Gun Group to allow its members to use any of the available features," the statement read.

On February 26, 2012, Zimmerman called 911 to report a "suspicious person" in his neighborhood. Police told him not to get out of the car or approach Martin, but he disregarded the instructions and a confrontation ensued.

Zimmerman said Martin attacked him and he shot the unarmed teenager in self-defense. The case shined a spotlight on Florida laws allowing the use of deadly force and on issues of race.

In his post introducing the auction, Zimmerman said he was "honored and humbled to announce the sale of an American Firearm Icon."

He said some of the proceeds would be used to fight Black Lives Matter violence against police, and to "ensure the demise of (State's Attorney) Angela Correy's persecution career and Hillary Clinton's anti-firearm rhetoric."

Zimmerman had first tried to sell the pistol through a site called GunBroker, but the website sent out a message Thursday afternoon saying it had rejected the idea.

"Our site rules state that we reserve the right to reject listings at our sole discretion, and have done so with the Zimmerman listing," a GunBroker statement said. "We want no part in the listing on our web site or in any of the publicity it is receiving."

Zimmerman told CNN he moved the auction to another website, giving a different reason than GunBroker did.

"Unfortunately, (the site) was not prepared for the traffic and publicity surrounding the auction of my firearm," Zimmerman said in a text. "It has now been placed with another auction house."

That site, United Gun Group, put out a statement Thursday night saying the gun would not be sold on its site, but the auction appeared to proceed anyway.

After initially saying the site would not allow the auction, founder Todd Underwood said in an email to CNN that an official response would be released Friday.

"I recently received it back from the Department of Justice," he said. "They took it after my trial, after I was exonerated."

Zimmerman told the station he has had death threats since he put the gun up for sale.

"What I've decided to do is not cower," he said. "I'm a free American. I can do what I want with my possessions."

In posting the weapon for auction, Zimmerman described the weapon as a "piece of American History."

"The firearm for sale is the firearm that was used to defend my life and end the brutal attack from Trayvon Martin on 2/26/2012," Zimmerman apparently wrote in the posts.

"The pistol currently has the case number written on it in silver permanent marker," he wrote.

Zimmerman said museums such as the Smithsonian Institution have "expressed interest in owning and displaying the firearm."

But the Washington-based Smithsonian denied it has any interest in the weapon.

"We have never expressed interest in collecting George Zimmerman's firearm, and have no plans to ever collect or display it in any museums," it said in a statement.

Family attorney Benjamin Crump told CNN's "New Day" Friday that Zimmerman "keeps appearing to reopen the wounds again and again."

"It's like he is shooting and killing Trayvon all over again four years later with this attempt to auction off this gun like it's some kind of trophy," Crump said. "I mean, it's offensive, it's outrageous and it's insulting."

The gun sale is not Zimmerman's first effort at auction.

CNN's Elan Bird, Eliott C. McLaughlin, Shawn Nottingham, Polo Sandoval, Justin Lear and Ralph Ellis contributed to this report.

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George Zimmerman's gun may still be up for auction - cnn.com

Bids in George Zimmerman gun auction up to $65M

After it was halted by two websites on Thursday, the auction for the gun that George Zimmerman used to kill Trayvon Martin was back up on one website Friday morning. USA TODAY

This file photo image provided by the Seminole County Sheriff's Office taken on June 2, 2012 shows George Zimmerman as he poses for a mugshot photo following his surrender to authorities at John E. Polk Correctional Facility (JEPCF) in Sanford, Florida.(Photo: HANDOUT, AFP/Getty Images)

Bidding in an online auction for the gun George Zimmerman used to kill Trayvon Martin was upto$65million Friday morning as Internet trolls appeared to drive the offersto astronomiclevels.

Bidding on the 9 mm Kel-Tec PF-9 pistol began at $5,000 and reached more than $65 million earlyFriday.Thetop bidder at one point used the screen name Racist McShootface. That account was later deleted. Another bidder used the name Tamir Rice, which is the name of a 12-year-old boy shot by police in Cleveland while carrying a toy gun.

The most recent bid topping $65 million is by someone identified as Craig Bryant.

The United Gun Group website began hosting the auction after another website, GunBroker.com, halted bidding. ButUnited Gun Group briefly pulled the listing Thursday night, sayingthe auction was not in the organization's best interest.

Our mission is to esteem the 2nd amendment and provide a safe and secure platform for firearms enthusiasts and law-abiding citizens; our association with Mr. Zimmerman does not help us achieve that objective," the organization wrote.

However, the auction was back up andrunning on the companys website early Friday and the bid clock says it will be open for four more days.

GunBroker.com stopped the auction on its site Thursday and said Zimmerman never contacted anyone at the firm about the listing.

USA TODAY

George Zimmerman's auction of Trayvon Martin gun taken down a second time

"We want no part in the listing on our web site or in any of the publicity it is receiving," it said in a statement.

Zimmermantold theOrlando Sentinelthat GunBroker.comwas not "prepared for the traffic and publicity surrounding the auction of my firearm. It has now been placed with another auction house."

Zimmerman told Orlando TV station WOFL that the gun was returned to him by the U.S. Justice Department after he was acquitted of second-degree murder and manslaughter in 17-year-old Martin'sdeath in 2012.

Zimmerman, 32, saidhe plannedto use the proceeds from the sale of the gun, which he described as "an American Firearm Icon," to fight "Black Lives Matter" violence against law enforcement officers and to counter"Hillary Clinton's anti-firearm rhetoric." He also said money would be used to "ensure the demise of Angela Correy's (sic) persecution career." Corey was the special prosecutor appointed to investigate Martin's death.

The listing ended withif you want peace, prepare for war in Latin.

USA TODAY

After death of son, mother stands with Black Lives Matter

Zimmerman, then a neighborhood watch volunteer,shot and killedMartin in February2012,in a confrontation as the unarmed teenager washeading back to a relative's house inSanford, Fla.,after buying snacks at a convenience store.

Tracy Martin, the boy's father,issued a statementThursdaythrough his lawyer, Benjamin Crump, saying a foundation in his son's name is focusing onending senseless gun violence and "has no commenton the actions of that person that murdered Trayvon."

Zimmerman has had several run-ins with the law since Martin'sshooting, including domestic abuse chargesand an alleged road rage incident.Ina conversation with Fox35in Orlando, he said if he doesn't sell the firearm, it willgo in a safe and "never be used or seen again."

A file picture date June 25 2013 shows the hands of Diana Smith, crime scene technician for the Sanford Police Department, showing the jury Zimmerman's gun, which was collected as evidence at the crime scene, during Zimmerman's trial in Seminole circuit court in Sanford, Florida.(Photo: GARY W. GREEN / POOL, EPA)

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Bids in George Zimmerman gun auction up to $65M

Rand Paul – YouTube

When I talk with people across Kentucky and the United States, the most common top concern for our country is our ballooning federal debt.

We are currently spending roughly $7 million per minute, and this reckless habit has gone on for way too long.

We currently face a debt of nearly $19 trillion. This is unsustainable. The fiscal crisis that faces our nation must be taken seriously and immediately addressed.

I have introduced several balanced budgets in the Senate that would cut the debt, and I will work tirelessly to balance our budget and only spend what comes in.

We must cut spending in all areas, particularly areas that are better run by state and local governments.

In 46 states across the nation, a Balanced Budget Amendment (BBA) has been enacted in their state constitutions.

I have long been a proponent of adopting the same principle for the Federal Government.

We must work together to reach common sense solutions that will solve our nations fiscal crisis.

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Rand Paul - YouTube