Search Episodes (OCTOBER 10 THIS IS NOT A RACE)

Forza Motorsport 4 American Le Mans Series Pack Trailer [HD]

Added 02/01/12
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There's No Mystery About Romney's Taxes and Tax Plan

Added 12/29/11
5 Views

There's No Mystery About Romney's Taxes and Tax Plan

[LESS INFO] 5 VIEWS | ADDED 21:00:06 12/29/11
Why is Mitt Romney alone among the Republican presidential candidates in refusing to release his tax returns ? And why is the former Massachusetts Governor also the only major GOP contender not calling for the complete elimination of the capital gains tax ? As it turns out, the answer - horrible political optics - is the same to both questions. Because Romney's continuing millions in annual income from Bain Capital are taxed at the 15 percent capital gains rate, Mitt already pays a much lower share to Uncle Sam than most middle class families . And if he called for changing the capital gains rate to zero, Mitt Romney would have to explain to voters why the $250 million man should pay virtually no tax bill at all . Despite his famous demand in the 1994 Senate race that Ted Kennedy release his tax returns to show he has "nothing to hide," Romney last week reiterated his own paperwork would not be forthcoming. "We don't have any current plans to release tax returns, but never say never," Romney said, adding: > "I can tell you we follow the tax laws, and if there's an opportunity to save taxes, we like anybody else in this country will follow that opportunity." Truer words were never spoken. In October, Citizens for Tax Justice estimated that the Romneys paid only 14 percent of their income in taxes . (It's no wonder Mitt opposes the " Buffett Rule .") As Time reported: > Just how much Romney pays in taxes is, for the moment, a private matter. But his income is public knowledge. In August, Romney disclosed that in 2010 he and his wife made between $1.1 million and $2.8 million in royalties, salary, speaking fees and interest, most of which was likely taxed at a marginal rate of 35%, after accounting for deductions. The Romneys made an additional $5.5 million to $37.3 million from dividends and capital gains, which is generally taxed at a much lower rate of 15%. Two weeks ago, the New York Times shed light on that "$5.5 million to $37.3 million from dividends and capital gains" that represents most of Romney's income. Though Mitt left Bain Capital in 1999, 13 years later his windfall continues uninterrupted: > In what would be the final deal of his private equity career, he negotiated a retirement agreement with his former partners that has paid him a share of Bain's profits ever since, bringing the Romney family millions of dollars in income each year and bolstering the fortune that has helped finance Mr. Romney's political aspirations... > In the process, Bain continued to buy and restructure companies, potentially leaving Mr. Romney exposed to further criticism that he has grown wealthier over the last decade partly as a result of layoffs. Moreover, much of his income from the arrangement has probably qualified for a lower tax rate than ordinary income under a tax provision favorable to hedge fund and private equity managers, which has become a point of contention in the battle over economic inequality. And that creates what Steve Benen aptly called "Romney's 'carried interest' problem." > In case anyone needs a refresher, there's a tax loophole on "carried interest" -- sometimes called "the carry" -- that taxes private equity and venture capital income at a lower, 15% rate, as compared to 35% on ordinary income. Hedge-fund managers and the Wall Street have fought tooth and nail to protect this loophole -- even after the Obama White House tried to eliminate it -- and so far, they've been successful. Which is why Mitt Romney has thus far refused to join his fellow GOP White House hopefuls in proposing the elimination of the 15 percent capital gains tax. Newt Gingrich, Rick Perry and Herman Cain all called for zeroing out the capital gains levy, which is one reason why their tax plans represent such a huge windfall for the wealthy . (Their support for a flat-tax is another.) The Washington Post explained why for the rich that would be "better than any Christmas gift": > While it's true that many middle-class Americans own stocks or bonds, they tend to stash them in tax-sheltered retirement accounts, where the capital gains rate does not apply. By contrast, the richest Americans reap huge benefits. Over the past 20 years, more than 80 percent of the capital gains income realized in the United States has gone to 5 percent of the people; about half of all the capital gains have gone to the wealthiest 0.1 percent. For his part, Romney has proposed reducing the capital gains tax rate only for the first $200,000 in income. But as ThinkProgress pointed out, Romney's claim that "The people in the middle...I focused my tax cut right there" is preposterous: > Romney may think he focused his tax cut on the middle-class, but according to a ThinkProgress analysis of Tax Policy Center data*, nearly three-fourths of households that make $200,000 or less annually would get literally nothing from Romney's tax cut, due to the simple fact that most of those households have no capital gains income. But while Mitt Romney didn't want to create the appearance of slashing most of his own tax bill, that doesn't mean his proposals wouldn't produce a massive payday for his own and other rich families while piling up yet more debt. Romney's 59-point economic plan calls for extending the Bush tax cuts, ending the estate tax and reducing corporate taxes. The result, as ThinkProgress explained: > Romney's tax plan includes a $6.6 TRILLION giveaway to corporations and the wealthiest Americans. Meanwhile, Romney's Medicaid cuts are even more draconian than the ones in Paul Ryan plan. Both of their plans end also end Medicare, naturally. Still, in an interview last weekend the reliably Republican Wall Street Journal wondered why Romney had been so "timid" compared to his rivals. In a rare moment of candor, Mitt revealed that his real preferences would make for very bad politics: > What about his reform principles? Mr. Romney talks only in general terms. "Moving to a consumption-based system is something which is very attractive to me philosophically, but I've not been able to sufficiently model it out to jump on board a consumption-based tax. A flat tax, a true flat tax is also attractive to me. What I like--I mean, I like the simplification of a flat tax. I also like removing the distortion in our tax code for certain classes of investment. And the advantage of a flat tax is getting rid of some of those distortions"... > Amid such generalities, it's hard not to conclude that the candidate is trying to avoid offering any details that might become a political target. And he all but admits as much. "I happen to also recognize," he says, "that if you go out with a tax proposal which conforms to your philosophy but it hasn't been thoroughly analyzed, vetted, put through models and calculated in detail, that you're gonna get hit by the demagogues in the general election." "The president," Romney complained, "will characterize anyone running for office, and me in particular, as just in there to lower taxes for rich people, and that is not my intent." Perhaps, but that's the inevitable impact. As John McCain learned in 2008 , refusing the release the details of his beer heiress wife Cindy's fortune while calling for tax policies delivering his family lottery-sized winning courtesy of the U.S. Treasury is not going to endear you to working Americans. (In Mitt Romney's case, revealing the 10 percent tithe he dutifully pays to his Mormon church probably won't endear him to the GOP's evangelical primary voters, either.) All of which explains why Mitt Romney won't release his tax returns or call for abolishing the capital gains tax, the love which dares not speak its name. Besides, Mitt Romney wants Americans to believe he's just part of the "80 to 90 percent of us" who are middle class. And, no doubt, Mitt's willing to bet you $10,000 to prove it. (This piece also appears at Perrspectives .)

There's No Mystery About Romney's Taxes and Tax Plan

Added 12/29/11
4 Views

There's No Mystery About Romney's Taxes and Tax Plan

[LESS INFO] 4 VIEWS | ADDED 21:00:06 12/29/11
Why is Mitt Romney alone among the Republican presidential candidates in refusing to release his tax returns ? And why is the former Massachusetts Governor also the only major GOP contender not calling for the complete elimination of the capital gains tax ? As it turns out, the answer - horrible political optics - is the same to both questions. Because Romney's continuing millions in annual income from Bain Capital are taxed at the 15 percent capital gains rate, Mitt already pays a much lower share to Uncle Sam than most middle class families . And if he called for changing the capital gains rate to zero, Mitt Romney would have to explain to voters why the $250 million man should pay virtually no tax bill at all . Despite his famous demand in the 1994 Senate race that Ted Kennedy release his tax returns to show he has "nothing to hide," Romney last week reiterated his own paperwork would not be forthcoming. "We don't have any current plans to release tax returns, but never say never," Romney said, adding: > "I can tell you we follow the tax laws, and if there's an opportunity to save taxes, we like anybody else in this country will follow that opportunity." Truer words were never spoken. In October, Citizens for Tax Justice estimated that the Romneys paid only 14 percent of their income in taxes . (It's no wonder Mitt opposes the " Buffett Rule .") As Time reported: > Just how much Romney pays in taxes is, for the moment, a private matter. But his income is public knowledge. In August, Romney disclosed that in 2010 he and his wife made between $1.1 million and $2.8 million in royalties, salary, speaking fees and interest, most of which was likely taxed at a marginal rate of 35%, after accounting for deductions. The Romneys made an additional $5.5 million to $37.3 million from dividends and capital gains, which is generally taxed at a much lower rate of 15%. Two weeks ago, the New York Times shed light on that "$5.5 million to $37.3 million from dividends and capital gains" that represents most of Romney's income. Though Mitt left Bain Capital in 1999, 13 years later his windfall continues uninterrupted: > In what would be the final deal of his private equity career, he negotiated a retirement agreement with his former partners that has paid him a share of Bain's profits ever since, bringing the Romney family millions of dollars in income each year and bolstering the fortune that has helped finance Mr. Romney's political aspirations... > In the process, Bain continued to buy and restructure companies, potentially leaving Mr. Romney exposed to further criticism that he has grown wealthier over the last decade partly as a result of layoffs. Moreover, much of his income from the arrangement has probably qualified for a lower tax rate than ordinary income under a tax provision favorable to hedge fund and private equity managers, which has become a point of contention in the battle over economic inequality. And that creates what Steve Benen aptly called "Romney's 'carried interest' problem." > In case anyone needs a refresher, there's a tax loophole on "carried interest" -- sometimes called "the carry" -- that taxes private equity and venture capital income at a lower, 15% rate, as compared to 35% on ordinary income. Hedge-fund managers and the Wall Street have fought tooth and nail to protect this loophole -- even after the Obama White House tried to eliminate it -- and so far, they've been successful. Which is why Mitt Romney has thus far refused to join his fellow GOP White House hopefuls in proposing the elimination of the 15 percent capital gains tax. Newt Gingrich, Rick Perry and Herman Cain all called for zeroing out the capital gains levy, which is one reason why their tax plans represent such a huge windfall for the wealthy . (Their support for a flat-tax is another.) The Washington Post explained why for the rich that would be "better than any Christmas gift": > While it's true that many middle-class Americans own stocks or bonds, they tend to stash them in tax-sheltered retirement accounts, where the capital gains rate does not apply. By contrast, the richest Americans reap huge benefits. Over the past 20 years, more than 80 percent of the capital gains income realized in the United States has gone to 5 percent of the people; about half of all the capital gains have gone to the wealthiest 0.1 percent. For his part, Romney has proposed reducing the capital gains tax rate only for the first $200,000 in income. But as ThinkProgress pointed out, Romney's claim that "The people in the middle...I focused my tax cut right there" is preposterous: > Romney may think he focused his tax cut on the middle-class, but according to a ThinkProgress analysis of Tax Policy Center data*, nearly three-fourths of households that make $200,000 or less annually would get literally nothing from Romney's tax cut, due to the simple fact that most of those households have no capital gains income. But while Mitt Romney didn't want to create the appearance of slashing most of his own tax bill, that doesn't mean his proposals wouldn't produce a massive payday for his own and other rich families while piling up yet more debt. Romney's 59-point economic plan calls for extending the Bush tax cuts, ending the estate tax and reducing corporate taxes. The result, as ThinkProgress explained: > Romney's tax plan includes a $6.6 TRILLION giveaway to corporations and the wealthiest Americans. Meanwhile, Romney's Medicaid cuts are even more draconian than the ones in Paul Ryan plan. Both of their plans end also end Medicare, naturally. Still, in an interview last weekend the reliably Republican Wall Street Journal wondered why Romney had been so "timid" compared to his rivals. In a rare moment of candor, Mitt revealed that his real preferences would make for very bad politics: > What about his reform principles? Mr. Romney talks only in general terms. "Moving to a consumption-based system is something which is very attractive to me philosophically, but I've not been able to sufficiently model it out to jump on board a consumption-based tax. A flat tax, a true flat tax is also attractive to me. What I like--I mean, I like the simplification of a flat tax. I also like removing the distortion in our tax code for certain classes of investment. And the advantage of a flat tax is getting rid of some of those distortions"... > Amid such generalities, it's hard not to conclude that the candidate is trying to avoid offering any details that might become a political target. And he all but admits as much. "I happen to also recognize," he says, "that if you go out with a tax proposal which conforms to your philosophy but it hasn't been thoroughly analyzed, vetted, put through models and calculated in detail, that you're gonna get hit by the demagogues in the general election." "The president," Romney complained, "will characterize anyone running for office, and me in particular, as just in there to lower taxes for rich people, and that is not my intent." Perhaps, but that's the inevitable impact. As John McCain learned in 2008 , refusing the release the details of his beer heiress wife Cindy's fortune while calling for tax policies delivering his family lottery-sized winning courtesy of the U.S. Treasury is not going to endear you to working Americans. (In Mitt Romney's case, revealing the 10 percent tithe he dutifully pays to his Mormon church probably won't endear him to the GOP's evangelical primary voters, either.) All of which explains why Mitt Romney won't release his tax returns or call for abolishing the capital gains tax, the love which dares not speak its name. Besides, Mitt Romney wants Americans to believe he's just part of the "80 to 90 percent of us" who are middle class. And, no doubt, Mitt's willing to bet you $10,000 to prove it. (This piece also appears at Perrspectives .)

Forza Motorsport 4 Accolades Trailer [HD]

Added 11/30/11
0 Views

Forza Motorsport 4 Build a Car in a Week Trailer [HD]

Added 10/27/11
2 Views

Forza Motorsport 4 Speed Package DLC Trailer [HD]

Added 10/27/11
4 Views

World of Warcraft Talent Tree Overhauled - BlizzCon 2011

Added 10/25/11
3 Views

World of Warcraft Talent Tree Overhauled - BlizzCon 2011

[LESS INFO] 3 VIEWS | ADDED 01:29:40 10/25/11
http://bit.ly/ClevverGames - Subscribe! http://Twitter.com/ClevverGames - Follow Us! http://www.facebook.com/ClevverGames - Like Us! Hello everyone and welcome back to Clevver Games, I'm your host Andrea Rene with more news from BlizzCon 2011. The annual convention from Blizzard Entertainment revealed many changes for their successful World of Warcraft series. Not only did the publisher announce their new expansion Mists of Pandaria, but they unveiled their new Pandaren race and the monk class. . While that is exciting and all, the major change in gameplay comes with the Talent Trees. These trees allow players to specialize their classes, and they recently saw some changes with the Cataclysm expansion. But at BlizzCon, Systems Designer Greg Street said that those changes weren't enough. . The upcoming expansion will keep the changes from Cataclysm, but after level 10, you'll no longer pursue branches of a tree. Instead you'll get to choose one of three talents every 15 levels. There won't be talent points or ranks anymore but the upside is it will be relatively easy to change your talents and there will still be additional spec abilities. . The whole idea behind it is to cut away junk talents and focus on simpler, more meaningful choices based on play style. Street emphasized that there should be no mandatory talents for a successful character build. . BlizzCon also saw the debut of the new Monk class. You'll have to start on Level 1, wear leather armor, and specialize as a Brewmaster, Mistweaver, or Windwalker. This class has a clear martial arts focus with lots of melee combat and fist weapons. Any race can be the Monk class except the Goblins and Worgen, but do yourselves a favor and test run it with the Pandaren, if for nothing else but the Panda roll. . We'll have more info from BlizzCon and details about the Mists of Pandaria right here on Clevver Games so make sure to subscribe to not miss any news. I"m Andrea Rene and I'll see you next time. Author: ClevverGames Tags: World Warcraft BlizzCon Wow talent tree skills class monk cataclysm expansion warcraft clevver games andrea rene blizzard entertainment Posted: 25 October 2011 Rating: 0.0 Votes: 0

Forza Motorsport 4 Launch Trailer [HD]

Added 10/11/11
1 Views

Forza Motorsport 4 Endangered Species Trailer [HD]

Added 10/03/11
0 Views

Forza Motorsport 4 Infineon Raceway Trailer [Hd]

Added 09/06/11
1 Views

Drive it!: The Motor Magazine

Added 08/17/11
14 Views

Drive it!: The Motor Magazine

[LESS INFO] 14 VIEWS | ADDED 00:30:00 08/17/11
The Beetle is dead, long live the Beetle! VW is launching a second attempt to resurrect its legendary cult model. The new version bears a closer resemblance to the original - while both the technology and price are distinctly modern! Plus we have two station wagons for under 10,000 euros: the Dacia Logan and Lada Priora. And the Mercedes CLS: a slick and stylish coupé version of the E-Class.present it! VW’s 2011 New BeetleThe Beetle is back. In October Volkswagen will be launching the next generation of its cult car, which will of course be out to win more hearts.The new model has a changed appearance: longer, flatter and wider. The New Beetle’s lengthy engine hood is particularly striking, and is a throwback to the roots of the original car. drive it! took to the streets of Berlin to find out what people on the street thought of it. compare it! Dacia Logan MCV vs. Lada Priora WagonStation wagons are loved for their flexibility and space - whether for a trip to and from the hardware store or a family vacation. There are a range of established wagons out there, generally in higher price brackets and boasting luxury features - and then there are the no-frills workhorses like the Dacia Logan MCV and Lada Priora.Both these models are immediately appealing because of their low prices; the basic Logan MCV costing 7,990 euros (in Germany) and the Priora 9,990 euros. Both can also be ordered with LPG drive. So which model ended up offering more car for a nice price? test it!: Mercedes CLSGenerations of art professors, even biologists and psychologists have poised the question: What is the secret of true beauty? For cars there are a few basic rules. Long, flat and a curve from front to back. But that's only the basics. It's all about making a statement. Mercedes wanted to do just that with the CLS. We test the new sleek lines and curves galore of the Mercedes CLS.examine it!: The Wonderful World of Italian Car LogosFast - sporty - Italian. The colour red is synonymous with Ferrari. And the logo is one of the most recognised in the world. The "Cavallino Rampante", the prancing horse.But what does the logo stand for? Animals are popular with Italian car manufacturers. Lamborghini have a bull to symbolise power and aggression, and founder Ferrruccio Lamborghini also had the star sign Taurus. drive it! also explains how a snake giving birth to a child made it onto the logo of Alfa Romeo.spot it!: Romaniacs 2011The "Romaniacs" is considered the toughest extreme enduro rally in the world. 176 bike specialists came to Romania to compete in this year's gruelling rally. Over four days the riders travel 600 kilometres in and around Sibiu. The prologue runs through the main streets of the city. The race takes the bike riders to the extreme. And we were there for the ride.