ShortFormBlogOctober 12, 2011

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» And he only paid 17.4% in taxes: Buffett, whose monetary gains are the subject of scrutiny because of the fact that he’s the inspiration for Obama’s “Buffett Rule” (a notable part of the president’s jobs plan), released the earnings after being prodded by Rep. Tim Huelskamp of Kansas, a Republican. Of note: Just $39,814,784 of his earnings were taxable, with the rest going to deductions and exemptions (like, say, his fairly robust charitable givings). And in case you’re wondering, Warren’s tax rate is low largely because he makes most of his income through investing. In the end, how much did he pay in taxes? A paltry $7 million (or a mere nine percent in taxes on adjusted gross income).

Posted by Ernie Smith • 0 Comments • Permalink

12 Oct 2011 11:26

$65 million the amount Cameron and Tyler Winklevoss earned from their original settlement with Facebook
$13 million the amount the Winklevi have spent on lawyer fees in that case and a couple of others source

» Twenty percent of their settlement, down the toilet: Sure, the prize that the Winklevi could win from Mark Zuckerberg and company could possibly be massive — in the billions, even — but the thing is, they’re already rich and they’ve wasted much of their “I’m rich” money on courtrooms and lawsuits. Perhaps not the most efficient way of spending the money? Maybe.

Posted by Ernie Smith • 0 Comments • Permalink

The U.S. has something it’s trying to sell to the world. In case you’re wondering what that is, it’s that Iran is a very bad country — particularly in the wake of an assassination plot involving a Saudi diplomat —and we need to make sure they know it. “It’s critically important that we unite the world in the isolation of and dealing with the Iranians,” Vice President Joe Biden said today. “That’s the surest way to be able to get results.” He suggests that down the line, actions could go beyond sanctions, even, though we’re not at that point yet. He’s not alone. Here’s Secretary of State Hillary Clinton: “This really, in the minds of many diplomats and government officials, crosses a line that Iran needs to be held to account for.” You get the feeling from reading these that the U.S. has been waiting for a moment like this for a while. source

Posted by Ernie Smith • 0 Comments • Permalink

I wish I knew that he was willing to listen to my advice, I would have given him some: I would have told him not to impeach Clinton, I would have told his successors not to go to war with Iraq, and I would have told [Tom] DeLay not to go on the dance show.
Rep. Barney Frank • Getting in an ice burn on Newt Gingrich, who ripped him and fellow Dodd-Frank architect Christopher Dodd, suggesting they should go to jail for daring to pass a financial reform. “If you want to put people in jail, you ought to start with Barney Frank and Chris Dodd,” Gingrich claimed during Tuesday night’s debate. As you might guess, Frank took umbrage with that assessment: “This notion we caused the problem that started while they were in charge even by Gingrich’s standards is very odd.” source

Posted by Ernie Smith • 0 Comments • Permalink