Etc.

When it comes to the social safety net, there is not a dime's worth of difference between the two national political parties anymore.
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Playing politics: If Democrats were really serious about raising tax rates on the rich, they'd have done it when they had control over both houses of Congress.

All they are doing with this is gearing up for 2012.
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A man reviled by researchers for peddling unproven causes of autism now has his theories getting a second look.
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Thanks to Successful Propaganda,

people who are not rich don't know the truth about taxes.

The article is pretty good at exposing the truth and should be distributed far and wide.

Charles Schumer of New York, fought to keep the tax rate on hedge-fund managers at 15 percent, arguing that the profits from hedge funds should be considered capital gains, not ordinary income, which got a lot of attention in the news.
What the news media missed is that hedge-fund managers don’t even pay 15 percent. At least, not currently. So long as they leave their money, known as “carried interest,” in the hedge fund, their taxes are deferred. They only pay taxes when they cash out, which could be decades from now for younger managers. How do these hedge-fund managers get money in the meantime? By borrowing against the carried interest, often at absurdly low rates—currently about 2 percent.

Lots of other people live tax-free, too. I have Donald Trump’s tax records for four years early in his career. He paid no taxes for two of those years. Big real-estate investors enjoy tax-free living under a 1993 law President Clinton signed. It lets “professional” real-estate investors use paper losses like depreciation on their buildings against any cash income, even if they end up with negative incomes like Trump.

Frank and Jamie McCourt, who own the Los Angeles Dodgers, have not paid any income taxes since at least 2004, their divorce case revealed. Yet they spent $45 million one year alone. How? They just borrowed against Dodger ticket revenue and other assets. To the IRS, they look like paupers.

In Wisconsin, Terrence Wall, who unsuccessfully sought the Republican nomination for U.S. Senate in 2010, paid no income taxes on as much as $14 million of recent income, his disclosure forms showed. Asked about his living tax-free while working people pay taxes, he had a simple response: Everyone should pay less.

The rest of us, no matter how poor, are burdened with taxes so these bums can live high on the hog.

News, Etc.

It looks like the filthy rich are spared from paying their fair share in taxes for the moment.
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Campaign Notes

John McCain talked about Social Security and taxes with the media following his town hall meeting today in Sparks.

The reporter noted McCain displayed a flash of "ire."
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