Streep as Clinton? Tribute gets people talking

It’s funny, when I saw Meryl Streep’s tribute to Secretary of State Hillary Clinton, the first thing I thought of was how Ms. Streep should actually play Hillary Clinton on the big screen.  Apparently I was not alone in my thinking… quoted from http://kaystreet.wordpress.com/

The Associated Press

Meryl Streep is fresh off her Oscar win for playing Margaret Thatcher. But she had an entire theater at Lincoln Center wondering if an even better role for her would be a political icon closer to home: Hillary Rodham Clinton.

The question arose as Streep paid a glowing and affectionate tribute to the secretary of state at the Women in the World summit, an annual gathering of prominent women leaders and unsung heroines from across the globe that closed over the weekend.

“This is what you get when you play a world leader,” Streep said Saturday, hoisting up her best-actress Oscar for “The Iron Lady.”

“But if you want a real world leader,” Streep continued, “THIS is what you get!” Clinton strolled onstage at Lincoln Center for the Performing Arts’ David H. Koch Theater, and Streep enveloped her in a hug.

The three-day summit, now in its third year, is organized by Tina Brown, editor in chief of Newsweek and The Daily Beast. Besides Streep and Clinton, feminist icon Gloria Steinem and former secretary of state Madeleine Albright, Brown harnessed the star power of Angelina Jolie, who came to read the words of Dr. Hawa Abdi, a Somali humanitarian facing danger from Islamist rebels there.

Also given star treatment was International Monetary Fund chief Christine Lagarde, who delighted the delegates at dinner Thursday when she suggested that the financial crisis might have been averted, or at least been much less serious, if more women had been at the helm of financial institutions.

“If Lehman Brothers had been a bit more Lehman Sisters … we would not have had the degree of tragedy that we had as a result of what happened,” Lagarde said.

She added that recent studies have shown “what the level of testosterone in a given room can produce when you do trading.”

Many global problems were addressed by the dozens of panels attended by some 2,000 delegates each day. But a constant undercurrent was an issue at home: the debate in Washington over women’s reproductive health care.

Clinton and other speakers referred, obliquely and not, to conservative radio commentator Rush Limbaugh’s insulting remarks about law student Sandra Fluke, who came under attack after she testified to congressional Democrats in support of their national health care policy that would compel her Catholic college’s health insurance plan to cover birth control.

The 2011 Nobel Peace Prize winner Leymah Gbowee, of Liberia, was the most blunt, saying women had been too passive: “Where are the angry American women?” she asked.

From Liberia to Egypt: Panelists discussed whether the Arab Spring risked becoming an Arab Winter for women, who were central to the popular uprising but now fear being marginalized.

“Tell people there is no spring without flowers and there is no Arab Spring without women,” said Dalia Ziada, Egypt director of the American Islamic Congress.

Other popular lines of the weekend included the definition of “glass ceiling,” from Jane Harman, the former California Democratic congresswoman: “It’s actually a thick layer of men.”

How do you puncture that layer? Kah Walla, a political leader from Cameroon, spoke of empowering women across Africa but added that in the United States, too, the level of female representation in politics was a serious issue.

“Every woman here needs to be involved with getting a woman elected,” she said.

The opposition leader in Israel, Tzipi Livni, of the Kadima Party, spoke about the nuclear threat from Iran. But she said she would not engage in what she called “megaphone diplomacy.”

“Maybe that’s something men do,” she quipped.

And Steinem had a good line — speaking on a panel about women leaders, moderated by Facebook chief operating officer Sheryl Sandberg, she speculated on why some men feel uncomfortable with females in power.

“The last time a lot of powerful guys saw a powerful woman, they were 8,” Steinem said. “They feel regressed to childhood by a powerful woman.”

Yet men played a role in the summit, too, perhaps none more eloquently than Imam Demba Diawara, a village chief from Senegal. In a powerful discussion of the practice of genital cutting, Diawara, whose own family members had endured the procedure, spoke of how he had gradually come to understand that cutting was dangerous and sometimes fatal. He said he had since visited 378 communities to convince leaders of his view.

“By 2015, we will see the end of genital cutting in Senegal,” he predicted.

The conference came to a more lighthearted end with Streep, who spoke humorously of the similarities she shared with Clinton.

They’re roughly the same age, she said. They both have two brothers. They both had spirited, big-hearted mothers. They both went to women’s colleges and then to graduate school at Yale.

“But there our two paths diverged in the wood,” Streep noted, concluding that “I’m an actress, and she’s the real deal.”

Clinton arrived to deliver a call to arms for women around the world to get involved in effecting change. But not before expressing relief that there was one movie Streep had never made.

“I’m just glad she didn’t do a movie called ‘The Devil Wears Pantsuits,’” quipped Clinton, mixing the title of a Streep film with her favored style of clothing.

thank you to http://kaystreet.wordpress.com/

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MA Women for Obama update letter

Dear Friends,

Two things:

1 – I don’t know if you follow Bill Maher but if you love satiric political comedy you won’t want to miss his recent online standup show “CrazyStupidPolitics” which can be found HERE

And in case you haven’t heard – he just donated a cool million to Bill Burton’s Super Pac “Priorities USA Action“, the only Super Pac supporting the re-election of President Obama.

2 – Most of us can’t afford to donate a million dollars, but some of us can stretch to donate to the Obama Campaign, and attending a great event makes it much less painful. Which brings me to the upcoming reception and dinner events in Boston with First Lady Michelle Obama.

Tickets to the March 9 events are selling briskly – I wouldn’t be surprised if we sell out by the middle of the week. If you are planning to attend but haven’t yet signed up I urge you to do it now.

The details are below -
RSVP for the reception HERE
RSVP for the dinner HERE

Reception & Issues Panel
Panel featuring Stephanie Schriock (EMILY’S LIST),
Nancy Keenan (NARAL), and
Jessica Gonzalez-Rojas (National Latina Institute for Reproductive Health).
The panel will be followed by remarks from the First Lady.

Friday, March 9, 2012
3:30 PM Reception
4:45 PM Panel Expected to Begin
Institute of Contemporary Art/Boston
200 Northern Avenue, Boston

Reception Tickets are $500 per person and may be purchased online HERE
Contact Ryan Fleury rfleury@barackobama.com for more information

Dinner with First Lady Michelle Obama (includes photo opportunity)
Friday, March 9, 2012
5:15 PM Cocktail Reception
Institute of Contemporary Art/Boston
200 Northern Avenue, Boston

Dinner Tickets are $5,000 per person and may be purchased online HERE
Contact Justin Brennan jbrennan@barackobama.com for more information

Please forward this email to any of your friends or colleagues who may
be interested in attending, and please check the events page on the blog to see the other wonderful events in the works. And remember, even if you can’t attend an event, your donation is still needed to help the good guys win.

Best Regards,

Marianne Karmel

Director
Massachusetts Women for Obama

ok – this proves Santorum is a total nutcase

Rick Santorum Sounds ‘Indoctrination’ Warning Over Obama College Plan

(from the Huffington Post)

Rick Santorum believes Obama wants to ‘indoctrinate’ students by encouraging higher college enrollment. The GOP hopeful sat down with Glenn Beck for a wide-ranging interview that aired Thursday, and he warned that higher education leads to secularization.

“I understand why Barack Obama wants to send every kid to college, because of their indoctrination mills, absolutely,” he said. “The indoctrination that is going on at the university level is a harm to our country.”

Obama has recently doubled down on his efforts to boost college attendance, pushing to make schools more affordable and accountable.

Santorum told Beck that “62 percent of kids who go into college with a faith commitment leave without it,” but failed to say where he found that figure. He has said that parents should have control of their children’s education, and vowed to home-school his seven children in the White House if he is elected president.

His wife, Karen, also talked with Beck and said that her husband entered the race because it was God’s will.

“I did always feel in my heart that God had big plans for Rick,” she said. “Eventually it was there, tugging at my heart. … When Obamacare passed, that was it. That put the fire in my belly.”

In Birth Control Debate, Religious Beliefs Don’t Trump Rights – Wendy Kaminer – National – The Atlantic

In Birth Control Debate, Religious Beliefs Don’t Trump Rights – Wendy Kaminer – National – The Atlantic.

Calling all tax lawyers – say what?

The Romney kids’ $100 million trust fund

By Blake Ellis @CNNMoney February 6, 2012: 3:12 PM ET

NEW YORK (CNNMoney) — Mitt Romney’s five sons — Matt, Tagg, Craig, Ben and Josh — are sitting pretty with a trust fund worth $100 million.

Getting there took investments that produced great growth, according to the Romney campaign. It also took smart tax strategies.

Romney and his wife Ann have been giving to the boys since 1995, and, according to a spokesperson for the Romney campaign, all of their contributions have been below gift-tax contribution limits.

The limit for a couple in 1995 was $20,000 and has since grown to $26,000. In addition, there’s a “lifetime gift-tax exclusion” for all the boys that totaled $1.2 million back in 1995 and has since grown to $10 million.

Add it all up, and the Romneys could have gifted $1.3 million in 1995, and a total of $10.6 million through 2011. All tax free.

To get to $100 million, the account would have needed a 26% average annual compound rate of return, said Jonathan Bergman, chief investment officer at Palisades Hudson Asset Management. Stocks over that same time have gained about 10%.

The Romney campaign noted that winning investments, such as Apple (AAPL, Fortune 500), saw similar gains since the mid-90s. And the trust’s 2010 tax return showed it has invested in the tech giant, as well as other winning investments like Goldman Sachs (GS, Fortune 500), Target (TGT, Fortune 500) and Oracle (ORCL, Fortune 500).

Rich, Gingrich and crazy rich

Plus, there are probably many investments we don’t know about. “Romney probably invested the trust in the same kinds of things he invested in himself, like startups and private equities — investments with high growth,” said Tim Gagnon, assistant academic specialist of Accounting at Northeastern University.

But even that can’t account for all the gains.

While many of the key details are missing because the family hasn’t released gift-tax returns or disclosed the contributions to the trust, there were likely a few other strategies at play, tax experts said.

“You’ve got people who are paid $1 million a year to work 3,000 hours just to figure out ways to transfer money from older generations to younger generations, and Romney has the money to hire the best of the best,” said Bergman.

As the co-founder of private equity firm Bain Capital, which he left in 1999, Romney has received compensation in the form of “carried interest”, the share of investment profits that is paid to private equity fund managers. And if Romney transferred this interest to make payments to his kids’ trust, he could have received big valuation discounts of up to 40% or more. So if Romney transferred interests in Bain Capital with a net asset value of, say, $14,000, he could have reported the fair market value as only $10,000, below the gift-tax exemption in 1995.

The Romneys could also have loaned money to the trust. While interest on the loans will vary, if the trust uses the loan proceeds to make high-growth investments, it can have more than enough money to pay back the loan.

Another way he could have added money to the trust would have been through a charitable lead trust, which would make a fixed payment to a charity for a specific period of time. Once that term ends, any remaining interest gained while in the trust can flow into the trust for his kids gift-tax-free.

The Romneys could have also set up a Grantor Retained Annuity Trust. When these trusts expire, the beneficiary receives the interest earned on the assets tax-free. They could have transferred a portion of the appreciation of assets into his kids’ trust with little or no gift tax.

In the end, it was likely a combination of having a top-tier tax planner who knew exactly how to work the tax code for Romney’s benefit that boosted the trust from a couple million dollars to $100 million in 17 years.

Romney’s real estate deals

“This is an example of someone who has been very sophisticated and effective in working within the tax code to accomplish his goals,” said Darell Krasnoff, managing director at Bel Air Investment Advisors. “But it’s not just smart planning. Unless you had a very dramatic rate of return to begin with, you would never get this kind of growth.”

As for paying income taxes on that great growth, Romney is footing the bill. According to his tax forms, the trust is set up as an “intentionally defective grantor trust,” which means the senior generation pays income tax on the trust each year, but they don’t pay the estate tax. That means the sons won’t have to pay a dime on the trust’s earnings until the assets are distributed or the Romneys pass away.

“Say he was paying a million dollars in income tax on behalf of the trust — that’s like another million dollar gift to the trust because it’s money the trust doesn’t have to pay,” said Bergman.  To top of page

NBC Politics – Colbert Super PAC raises $1 million. Non-satirical PACs to follow.

NBC Politics – Colbert Super PAC raises $1 million. Non-satirical PACs to follow..

“We raised it on my show,” Colbert told his fans, “and used it to materially influence the elections — in full accordance with the law. It’s the way our founding fathers would have wanted it, if they had founded corporations instead of just a country.”