News flash: unemployed Romney doesn't pay tax at "wage" tax rates

Romney has recently been dogged by his competitors, most notably Newt Gingrich, to release his tax returns. Frankly, I'm not sure why this did not become an issue sooner. Even on the West Wing, (1) releasing tax returns and (2) taking a physical to prove good health were two essential steps in running for POTUS. Nonetheless, the news today is that Romney pretty much pays a 15% rate (Washington Post), the long-term capital gains rate.

Many blogging heads are naming this the next chink in the Romney armor. But, I would ask, should we care? Romney is paying the pervailing tax rate that he himself had no voice in establishing. On that front, I can't imagine why his personal rate should be any matter of concern.

Does it erode his "working man" image? Possibly. But we didn't view him as a working man anyway. He's technically been unemployed since 2006! It's probably more troubling that Warren Buffett pays nearly the same rate while holding a full-time job.

More importantly, it may trigger a larger discussion on tax policy. But that's beyond Romney and the Romney campaign. No one quietly muttered to himself that the Obamas better hide the fact that they earned ~$1.7M in 2010. And debating what portion of the government's revenues should be funded by people who earn over $1M (Obama) OR people who have significant accumulated wealth (Romney) is the essence of democracy. Did we think Governor Romney would neglect to mention his tax policy over the next 8 months?  He's already got a 59-point economic plan (from Politico) and isn't even through the primaries yet!

Whether or not it turns out that way, I think blogosphere's afluttering today is simply silly. More imporantly, I hope that Romney's personal tax rate recedes as an issue and that we collectively engage in a larger debate about how (and where) to fund our massive government. The good of the country demands it.

Tusks and Tails: Assorted Links, Tuesday morning

Just a few interesting links today:

1. The inside dirt on how NYPD fills its lineups - they got a guy, ya know! (NYT)

2. The first corporate 'super-PAC' comes from an unlikely source: a burial-at-sea entrepreneur.  I would have expected it to be FedEx, UPS, or other companies at the top of the PAC giving lists.  (WaPo)

3. New Hampshire paper delivers Romney a veiled threat regarding his influence in Nevada (Union Leader, h/t RCP).  Its worth mentioning, however, that if NH puts its primary a few days before Nevada (the Iowa Caucuses are now Jan 3 and Nevada is Jan 14), I really don't think its going to affect much of NH's influence: (counter to the paper's doom and gloom prediction).  NH's influence and importance come not from a date on a calendar but rather from the retail politicking required and the gravity with which NH natives take their primaries.  

Huntsman: Interesting Asia-Pacific Policy

Image via WikipediaJon Huntsman delivered his first major foreign policy address yesterday in New Hampshire.  Calling for America to turn west, the speech was thoughtful and articulate, and it drew heavily on Huntsman's experiences as a diplomat.

In particular, three things leaped out.  First, Huntsman leaned on his various experiences living abroad.  That represents quite a stark change from recent GOP primaries in which candidates had not traveled extensively (other than as members of CoDels) or were not fluent in other languages:

"I’ve lived overseas four times. I’ve seen the world as a diplomat, as a businessman, as a humanitarian. I’ve lived in and seen what our most significant competitor nations are doing to prepare for the rest of the 21st Century. And I have a very clear vision of what America must do as well."

Second, Huntsman announced support for India to receive a permanent seat on the UN Security Council.  Currently, only the five veto powers (US, UK, France, Russia, and China) have permanent seats.  Huntsman's position is an interesting one: India is the second-most populous nation in the world, has the ninth-largest economy, could serve as a counterweight to China in the coming decades.

Huntsman is probably correct that the Security Council needs reform, and he is perceptive that the US will get more "friendship points" naming India first.  But he seems to brush aside the tremendous cost of his proposal.  Huntsman's proposal will surely infuriate both China and Pakistan.  Additionally, Japan (#3 economy), Germany (#4 economy), and Brazil (#7 economy) all have strong claims for a permanent seat and will lose significant international face if only India is added to the Council. 

Third, Hunstman's theme could be described as either nuanced or inconsistent.  He uses uncharacteristically strong rhetoric against nation-building and in his claim that America's "future is not in the Hindu Kush Mountains of Afghanistan."  He also combines a slightly isolationist "come home" message ("Only Pakistan can save Pakistan.  Only Afghanistan can save Afghanistan. And right now we should focus on America saving America.") with a touch of the traditional Democratic message that the US should not presume to tell other nations what to do ("We cannot dictate fundamental changes upon an age-old civilization from afar.").  But then he bends back to hit a hawkish note on Iran.

All in all, a very interesting speech.  Win or lose, Huntsman will continue to be a voice in American foreign policy as he gets, more than almost any of his colleagues (with the potential exception of Romney), that the 21st century will be a Pacific one.

Quick plug: Huntsman for Secretary of State in a Romney administration?

Artists Raising Cain: The Lee Greenwood Primary

Image via WikipediaOne of my favorite stories this morning comes from the Alex Pappas at the Daily Caller.  Lee Greenwood, singer/songwriter of "God Bless the USA," and several other musicians endorsed Herman Cain for president yesterday in Nashville.   

Food for thought: as his anthem is such a mainstay of GOP campaigns and conventions, would Greenwood permit it to be a theme song of a Romney-led ticket?  Would he volunteer to perform it at the RNC as he has in years past?

I hope that he would.  The message transcends anyone's pick in the primary or the general.  It truly is an American classic.