Welcome to the Trumpocalypse. We’ve warned you for over a year that this would happen and we hate being right.
Trump: Business Insider looks at how Donald Trump may have used an unintentional tax loophole known as the “Gitlitz loophole” to be able to use a S-Corp pass through to deduct loses his bank and investors took from his own personal taxes without having to offset their debt forgiveness as income. In essence the loophole would allow him to deduct from his taxes as loss money other people have lost. The Gitlitz loophole was the subject of 2001 Supreme Court ruling and the unintentional loophole was fixed in 2002. Of course whether Donald Trump legally used this loophole or illegally did something else is all the subject of speculation since Donald Trump has refused to release his income taxes.
Hillary: As Secretary of State Hillary Clinton gave special attention to “Friends of Bill”. This kind of thing might have mattered if the GOP did not nominate a narcissistic fraud who like to use his power and fame to sexually assault woman. In fact in an alternative universe I’m certain that this story and the dozens like it is such a scandal that the Democrats are in the process of Torricelliing Hillary off the ticket in favor of Joe Biden.
McMullin: With a second poll showing Evan McMullin polling over 20% there is a real chance that he could win Utah and become the first 3rd party candidate to win a state’s electoral votes since George Wallace did it 48 years ago. Redstate just endorsed him (Does that make them Greenstate or whatever color they will be using for McMullin?). McMullin is only on the ballot in 11 states but will probably be an eligible write-in candidate in at least 30 more states (see here).
CO-Sen: Darry Glenn (R) has a pretty awesome 3 1/2 minute Youtube bio ad that starts out looking like a Nike commercial. It is a shame Glenn has been unable to raise money which confines good content like this to Youtube.
IN-Sen: Evan Bayh could be worth as much as $48 million! How did the former Senator make his fortune? Did he build a business, inherit it from a relative, win the lottery or get stock options in a great internet start up? No! He simply spent 5 1/2 years selling access in Washington. When Bayh left the US Senate and his $174,000 a year salary in 2011 his net worth was between $2.1 and $7.7 million. Now it is between $13.9 million to $48 million. I guess shopping your resume to K Street while you are still sitting in the US Senate really does pay!
NV-Sen: Ever wonder where your tax dollars go? Apparently to Planned Parenthood to spend seven figures on an ad buy attacking Joe Heck (R) in the Nevada senate race. Yes I know money spent on the Planned Parenthood’s political action committee is separate from the money they get from the federal government but money is fungible. If Planned Parenthood has the ability to raise and spend millions of dollars on TV ads attacking Joe Heck then they should be able to raise and spend money on “women’s heath” without the help of the taxpayers. Call me old fashion but I have a serious problem with a group who gets millions of dollars from the government turning around and spending money to attack candidates who oppose their funding.
UT-Sen: Senator Mike Lee (R) debated a dude wearing a dress for 45 minutes because it is 2016.
WI-Sen: James O’Keefe catches Democrat senate candidate Russ Feingold on hidden camera at a swanky Silicon Valley fundraiser talking about how a President Hillary Clinton could use executive action to restrict 2nd Amendment rights and how Feingold could help support her in passing gun control laws.
CA-10: The Republican super PAC Congressional Leadership Fund will spend $2 million on behalf of Rep. Jeff Denham (R) who won his R+1 district by 12 points in 2014 and 5 points in 2012.
CO-3: You know Republicans are worried about the Trumpocalypse when they are dropping $1.3 million into shoring up Rep. Scott Tipton (R) in this R+5 district. Tipton won by 22 points in 2014 and by 12 points in 2012. The Republican aligned Congressional Leadership Fund will begin running ads on Tipton’s behalf starting October 20th.
CO-6: The NRCC wants voters to know that Democrat Morgan Carroll voted to allow welfare recipients to spend their government benefits at strip clubs and marijuana dispensaries.
FL-13: Because Charlie Crist (
R, I,D) is a liar he’s got the DCCC backing him by running an ad with a fabricated image of Rep David Jolly (R) and Donald Trump. The DCCC ad has a photo-shopped image of Jolly and Trump shaking hands even though the two have never met. The DCCC ad basically stuck Jolly’s head on somebody else’s body and Jolly wants TV stations to stop running the ad. While an image of Jolly and Trump standing together might not exist a simple Google search can find plenty of images of Donald Trump and Charlie Crist as you can see HERE, HERE, HERE, HERE, HERE or you can see Trump’s signature on those checks Donald Trump has written to Charlie Crist’s campaigns over the years.
FL-18: Here is another ad reminding voters that Democrat Randy Perkins is a crook who ripped off a school district for Hurricane Wilma repair work.
FL-26: Former Rep. Joe Garica (D) loves Obamacare. He brags about helping protect it in his own ad! If Garcia wants to spend his own campaign money to repeat NRCC talking points that is fine with us. Hopefully his next ad will talk about his love for Fidel Castro style communism (here) or simply a 30 second loop of THIS.
IL-10: The Environmental Defense Fund’s campaign arm is launching a $250,000 ad buy on behalf of Republican Rep. Bob Dold. This is significant because the EDF usually supports Democrats.
KS-3: The DCCC is reserving TV ad time on behalf of “investment adviser” Jay Sidie (D). Sidie barely won the Democrat primary with a mere 41%. The district is R+6 but polling has shown Donald Trump doing horribly here. The DCCC decision to go into KS-3 comes shortly after a story broke that neither “investment adviser” Sidie nor his so-called company Counterpunch Financial was ever registered to provide investment advice in the state of Kansas (see here).
UT-4: Rep. Mia Love raised $1.4 million in the 3rd quarter. She spent $1.7 million and has $1.2 million cash on hand. Love was recently endorsed by the NRA, has refused to endorse Donald Trump and had a fairly contentious debate Monday night with her Democrat opponent Doug Owens.
State, Local & Other:
AR-Casino Gaming Amendment: The Arkansas Supreme Court has pulled an amendment that would allow casino operations in three Arkansas counties from the November ballot ruling. Supporters and opponents of the casino amendment had spent more than $2 million to air television ads on the issue ahead of the November election before the court ruling. The Court also reject an amendment on tort reform which would have limited damages in lawsuits against nursing homes and other health care providers and has allowed a medical marijuana initiative to proceed to voters.
Marijuana legalization: Voters in nine states will decide next month whether to relax their laws governing medical or recreational marijuana use. The results of these ballot propositions could have a dramatic effect on the politics of marijuana prohibition.