In Case You Had Forgotten, Bill Moyers And Two Legal Scholars Explain How Citizens United Allows Corp's To Buy Elections

The video below appears originally as the first video on this page. Please watch Bill Moyers interviewing Monica Youn, an attorney at the Brennan Center for Justice, and Zephyr Teachout, a professor at Fordham School of Law, on the direct and indirect consequences of Citizens United:

If we want to preserve any semblance of democracy in America, we must find a way to rid ourselves of that execrable Supreme Court ruling. Otherwise the Golden Rule applies ("those who have the gold make the rules"), and we the people (except for the very wealthy) will have no participatory role in our government, and our flag may as well look like this:

I understand Sen. Bernie Sanders (I-VT) has a good campaign underway to rid us of Citizens United; perhaps you can join his effort. If that doesn't suit you, please find something, or prepare to lose your democracy.

Billionaires Buy... Bupkis

... and the incomparable Jim Hightower summarizes.

Given the way the GOP has approached literally everything lately, I suspect the message these masters of the universe will take from the drubbing they experienced is "next time, twice as much money."

I'm sure that will help. I'm just not sure if it will help them... or us!

So THAT's Why Rmoney Was Concealing His Taxes

Bloomberg via Raw Story:

Bloomberg News: Romney ‘rented’ Mormon church’s exemption to defer taxes for 15 years

By David Edwards
Monday, October 29, 2012 15:08 EDT


Republican presidential nominee Mitt Romney used a loophole to “rent” the Mormon church’s tax exemption status and defer paying taxes for 15 years, according to a new report.

Tax returns obtained by Bloomberg News through a Freedom of Information Act request indicated that Romney set up a charitable remainder unitrust (CRUT) in June 1996 just before Congress cracked down on the loophole in 1997.

“In this instance, Romney used the tax-exempt status of a charity — the Mormon Church, according to a 2007 filing — to defer taxes for more than 15 years,” Bloomberg’s Jesse Drucker explained. “At the same time he is benefitting, the trust will probably leave the church with less than what current law requires.”

Estates lawyer Jonathan Blattmachr told Bloomberg that Romney’s trust benefits from the Mormon church’s exempt status because charities don’t pay capital gains taxes when they make a profit from the sale of assets.

“The main benefit from a charitable remainder trust is the renting from your favorite charity of its exemption from taxation,” Blattmachr said, adding that the charitable contribution “is just a throwaway” and the church would receive little if any financial benefit from the trust.

...

I don't know about you, but this infuriates me well beyond Rmoney's raw wealth, which is after all not that unusual among the 0.01% in America today. It's his sense of privilege. I can just imagine Rmoney saying: "I, wealthy scion of a high-ranking Mormon family, can shelter much of my income from taxes for fifteen years, while you, stupid schmuck, have to pay your full amount yearly. And you deserve it, slave, for being who you are. I've got mine because of who I am, and fuck you if you don't like it!"

American presidents have been on the whole relatively wealthy more often than not. Some, like both Roosevelts, were very wealthy... and did not for the most part exercise their privileges to the egregious disadvantage of ordinary Americans. They seemed to have some ability to comprehend what it is like to be ordinary, or poor, or flat broke and on the street, even as they never were themselves.

Then there's Myth Rmoney.

The class schism has grown almost without bounds in America in my lifetime. The 99% are struggling down here and the 1%, especially the 0.001%, live in the economic stratosphere. And they have absolutely no since of noblesse oblige... none whatsoever. Does this mean they are "bad people"? IMHO, yes. And Myth Rmoney is one of those bad people.

If you want to support the Myth Rmoneys of the world on your tired backs for the rest of your life, go ahead and install this one in the presidency, or allow him to steal it.

If not... fight like bloody hell for the next few days. Your grandchildren's lives may depend on it.

(H/T ellroon.)

Imagine The Convenience! Banks To Choose Political Leaders For You... No Need To Think About Anything!

David Dayen of FDL:

The American Bankers Association, a trade group for thousands of banks headed by former Oklahoma Governor Frank Keating, voted to start a legal entity for this federal campaign cycle, adding millions of dollars into an already overstuffed election.

The ABA entity would reportedly donate to existing Super PACs, so that the member banks can keep their donations secret. 

Candidates Can
Take It To The Bank

The contributions from member banks into this fund could total at least $6 million, if not more. Bloomberg reports that much of this money will be used on 6-12 contested US Senate races. But according to Lee Fang, “Keating has been featured as a financial services policy advisor” to the Romney-Ryan campaign at various fundraisers throughout the year. So it appears likely that at least some of this bank money will get funneled into SuperPACs supporting the Republicans on the Presidential ticket. Banks have turned away from funding Obama, as they did in 2008, and moved the majority of their money toward Romney, probably because of feeling slighted by random comments rather than because of any actual policy differences. ...

...

Oh, you poor things; did the O-man hurt your feelings? Were his bailouts not generous enough? There, there, now; let's dry those tears by giving a few million bucks to Rmoney...

This kind of crap is a direct result of Citizens United and an affront to the notion that citizens elect their leaders. Could it come any closer to the raw purchase of elections than having banks contribute millions of dollars to campaigns? But of course, as Rmoney reminds us, "Corporations are people, my friend" (video), and clearly the corporations are his friend, not ours.

The late great Justice Brandeis was right: "We may have democracy, or we may have wealth concentrated in the hands of a few, but we can't have both." ABA contributions to super PACs are shining examples of why this is so.

Even Fox News

Even Fox News reporter Sally Kohn calls out Paul Ryan for the lies in his speech. Here's Bonnie Kavoussi of HuffPo:

According to Fox News columnist Sally Kohn, vice presidential nominee Paul Ryan's speech at the Republican National Convention on Wednesday "was an apparent attempt to set the world record for the greatest number of blatant lies and misrepresentations slipped into a single political speech."

"On this measure, while it was Romney who ran the Olympics, Ryan earned the gold," Kohn wrote.

In a surprising move, Fox News joined CNN, The Huffington Post, the Washington Post's Wonkblog, and ThinkProgress in publishing a fact-check of the Republican vice presidential nominee's speech, finding that the speech was full of lies and misleading assertions.

...

So... does this mean that Fox News has come around? Will they forsake the Rmoney/Ryan ticket and back Obama/Biden?

Heh. Hehheh. Hehhehhahaha-BWAHAHAHAHAHA! The explanation is much simpler than that...

The right-wing bastards no longer care if people know their agenda. They're out of the closet (no, not THAT closet), their hatred on full display for the world to see. Paul Ryan's lies can be called out... because his lies no longer matter. The prize is already in the bag.

Who Owns America?

According to Greg Palast's latest book (H/T Enfant in comments), the election has already been stolen. Yes, he said that in 2008 and it wasn't, but he gives evidence that a serious attempt was made. This time, in a post‑Citizens‑United world, the word "bought" may be more apt than "stolen"; I'm not sure. Either way, it is very possible that your vote and my vote mean absolutely nothing.

Meanwhile, Paul Craig Roberts tells us how America, no longer a beacon of freedom and democracy, is descending into poverty. A lot of you didn't need an article to tell you that. (Again, H/T Enfant.)

Meanwhile again, Michael Moore, in an interview, says we should get used to saying "President Romney."

Not if I can help it!

'Romney Girl'

... thanks to Enfant in comments. I know this song ("Barbie Girl") has been parodied a lot, but this is superbly well done:

---

Also please note the addition to the blogroll of Lynda Lovon (Lynda Williams), The Physics Chanteuse (commercial site) (blog). She's an excellent performer, a commenter on issues of science in society, and not least, a feminist activist. Ms. Lovon has (somewhere...) recorded a parody called "Hi-Tek Girl," not of this song but of "Material Girl." I discovered The Physics Chanteuse years ago; I don't know why I didn't add her to my blogroll then.

ADDED: search for her on YouTube as "Lynda Lovon". I recommend "The Lovon Song" (some physics knowledge helpful) and "We are Toxic" (much more somber).

Is Paul Ryan Bought, Paid For And Wholly Owned By The Kochs, Adelson, Etc.?

rafflaw at Jonathan Turley has found some evidence that the Kochs in particular and the highly questionable Sheldon Adelson have committed truly big bucks (perhaps $100 million from the Kochs) to super PACs supporting the Rmoney campaign... explicitly but secretly in exchange for his nominating Paul Ryan for his vice presidential candidate. Ryan has a history of support by the Kochs, and his worse-than-Tea-Party politics are just about right for their extremist views. And the notion of buying a veep would not trouble them one bit. Nor would the notion trouble the Rmoney/Ryan ticket one bit. Please read rafflaw's documentation. Many of the comments are also worthwhile, give or take a couple of concern trolls.

ADDED: Do not think it does not matter because Ryan would "only" be vice president. When Rmoney's hypothetical presidency is over, who, more often than any other individual, wins the next presidency?

We may be about to watch as our democracy is sold to the highest bidder. I, for one, am not happy with that. "I know. But I do not approve. And I am not resigned."