HomeCandidates 2018Abdul El-Sayed9/27 News Roundup – Why Bernie’s CNN Debate Was A Good Idea, Maria As Trump’s Katrina & More
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And they say the Dems are divided


Senate Majority Leader Mitch McConnell lost just about every way possible on Tuesday.

The Kentucky Republican had to abandon, again, an effort to repeal the Affordable Care Act amid an uprising from the more moderate wing of the GOP caucus. Then he learned that one of his most influential Republican chairman would not run for reelection next year, setting up a potentially divisive race to succeed the senator.

Finally, before 9:30 p.m. Tuesday, McConnell suffered the final indignity: His preferred candidate in Alabama, Sen. Luther Strange (R), lost the GOP nomination in embarrassing fashion to a conservative insurgent who vowed that his victory would send a message that McConnell and his allies should “run scared for a while.”

Roy Moore’s resounding win in the Alabama special election, after McConnell’s allies spent more than $10 million on Strange’s behalf, served as the first time Senate Republicans suffered a major defeat from a right-flank challenger in more than five years. Coupled with the retirement announcement of Sen. Bob Corker (R-Tenn.), it means that GOP incumbents will face more challenges next year and that McConnell’s promise to help them fend off insurgents will not carry the same weight.

On the legislative front, where McConnell was considered a master of the Senate, the leader could not herd his Republican colleagues or craft a parliamentary process to meet their competing needs. The result was an embarrassing failure to do what they promised voters they would for seven years: Repeal and replace former president Obama’s signature health care law.
Everything is on the line for McConnell in Tuesday’s Alabama Senate primary

It left some hard-charging conservatives furious about the outcome.


It would seem that Donald Trump’s rhetoric on ‘draining the swamp’ really hit a nerve with many Republican voters. I saw a voter yesterday on tv specifically mention how Strange was too tied to McConnell, so she was going to vote for Moore.

This kind of image probably didn’t hurt either for some voters:


Yayyyyyyy! Go Bernie! :O)


Benny up top mentioned repatriation. Trump’s plan includes:

A one-time repatriation tax. All overseas assets from US-owned companies would be considered repatriated and taxed at a one-time lower rate — this is designed to bring corporate profits back from overseas. Illiquid assets like real estate would be taxed at a lower rate than cash or cash equivalents, and the payments would be spread out over time. While there is no precise number in the plan, officials have indicated the rate could end up somewhere around 10%.

Historically, not much, if any, repatriation money trickles down to the average person.

Once that money is brought back to the US, companies have a few options for how to use it. The first is reinvestment back into core businesses. This is likely the avenue policymakers would prefer, as it holds the most direct bearing on economic expansion.

Another option would be for companies to repurchase their own shares. This would be beneficial to stock prices and, by extension, the market as a whole. Buybacks are a good way to achieve immediate share appreciation and signal to investors that a stock is viewed as undervalued.

My understanding is that they also issue stock dividends. At least that would be taxable for their recipients?

(repatriation tax holiday) could spur investment in the US, but it’s also very likely to wind up being used to pay dividends and buy back shares.

The article at my first link lists what they think would be companies poised to benefit most from repatriation.

The firm has put together a handy list of the stocks that fit the bill. Here are the ones they’ve identified as the top 14 beneficiaries

Some historical reference:

The repatriation tax holiday enacted in 2004 failed to produce any of the promised economic benefits, such as boosting jobs or domestic investment, according to a wide range of independent studies by economists associated with the National Bureau for Economic Research, the Congressional Research Service, the Treasury Department, and other analysts.[9]


Thank you LD!

I really like your ‘Also in this post:’ feature! A nice preview.


Oh, Jeremy Corbyn!

“Never have so many trees died in vain” Corbyn calls out Daily Mail’s coverage of Labour leader

During his speech to the Labour conference, Corbyn accused the right-wing media of colluding in a “nasty and personal” election campaign with the Conservative Party.

He said: “The day before the election, I remember it well, I was on trains all day long doing six rallies.

“One paper devoted 14 pages to attacking the Labour Party and the following day our vote went up nearly 10 per cent.

“Never have so many trees died in vain. The British people saw right through it.

So this is a message to The Daily Mail’s editor – next time please make it 28 pages.”



Here’s one for the Perriello would have won column:

Northam will hold the fundraiser with Clinton in New York on Oct. 4, as first reported by the Associated Press.

The Northam campaign confirmed the report but declined to comment further.

Northam, who is Virginia’s lieutenant governor, is locked in what polls say is a close contest with Gillespie, the former chairman of the Republican National Committee, ahead of the Nov. 7 election.

The Democrat had a significant lead in fundraising as of the last campaign finance disclosure filing. Northam had $5.6 million in cash on hand to Gillespie’s $2.6 million as of Aug. 31, according to filings earlier this month.

Back in June, Northam’s reserves had been depleted by a tough primary battle, but Gillespie was flush with cash and got out of the gate early with TV ads. Northam has been catching up in recent weeks.


Gillespie is probably licking his chops.

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