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Recent News
LaMalfa & Aanastad deny global warming:
5/8/2012
Chico Enterprise-Record by Larry Mitchell
Congressional candidates come together in Chico
"Seven of the eight candidates running in the June primary in the 1st Congressional District participated in Monday evening's forum in the Chico City Council chambers. . .
One question the candidates were asked was if they believed in 'human-caused climate change.'
Reed said he did and that virtually all the science shows there's no doubt about it.
Cheadle said he thought to some degree humans had caused global warming.
LaMalfa, Aanestad and Arrowsmith all said they didn't believe in it.
Stiglich and Oxley said they didn't know."
Read the rest of the article here.
5/10/2012
Chico News & Review by Ken Smith
Herger's hot seat: seven of eight candidates square off
"Rep. Wally Herger’s Jan. 10 announcement that he would not seek re-election to Congress, where he’s served since 1978, has resulted in eight candidates filing to run for what is now, following redistricting, the 1st District seat.Seven of those candidates took part in a question-and-answer forum on Monday (May 7) in the Chico City Council chambers hosted by the League of Women Voters. . . .
The question, 'Do you believe there’s such a thing as human-caused climate change?' elicited a range of responses. . . .
Reed was the only on who said he believes in climate change: 'I started out as an electrical engineer, so that gives me great respect for science and scientists,' he said. 'This is not even a controversial issue anymore. The top scientists have concluded that global warming is man-made.'"
Read the rest of the article here.
5/1/2012
Sacramento Bee Endorsements
Endorsements: Jim Reed, Sam Aanestad for 1st Congressional District
The Sac Bee calls Jim "thoughtful and worthy of support" in its recent endorsement of Jim!
Click here to read the whole article.
3/15/2012
Siskiyou Daily by Jim Reed
Top 1 percent don’t pay a fair share
I keep hearing the same story about the wealthy paying most of the taxes and how it is a misrepresentation to say that there is an unfair tax burden on the middle class.
It is true that wealthy people like Mitt Romney pay millions of dollars more in taxes than the average middle class taxpayer, but he is paying income taxes at a 15 percent rate when a single hard working taxpayer is paying at a rate of at least 25 percent on money earned above $34,500. The problem is that stock market income, dividends and capital gains are taxed at a flat 15 percent no matter how much income is received, while people working for a living are taxed with a progressive rate that tops out at 35 percent. Over 13,000 people for the year 2009 reported at least $10 million in income on their tax returns. Most of that income was from investments and was taxed at 15 percent. Yes, 15 percent of $10 million is more dollars than 25 percent of $50,000, but is that fair? (Keep reading here.)
2/12/2012
San Francisco Chronicle by Leland H. Faust
We should tax capital gains at higher rate
(This article is used with permission of the author but is not an endorsement.)
"Who wouldn't want the kind of tax treatment that presidential hopeful Mitt Romney received? His tax returns show that as a former partner at Bain Capital, a major private equity firm, he saved about $1.4 million in taxes in 2010 alone, thanks to a commonly used tax break.
Like other managers of private equity firms and hedge funds, Romney got part of his compensation as a share of profits. Because these managers are not paid this until profits are earned and because they do not invest their own money, the term "carried interest" is used to describe what they own. A carried interest held for more than one year is taxed as long-term capital gains (at a rate of 15 percent) rather than as ordinary income (at a rate of 35 percent for top earners).
The long-term capital gains rate is intended to encourage investment. But these managers are not investors risking their own capital to get their carried interest. They simply provide services. . . .
. . . Should Congress change the law to end this favored tax treatment and raise needed revenue? Absolutely. Here's why.
1. Inequity
Wealthy managers may pay federal tax at a rate lower than that of their own secretaries. A secretary earning $50,000 per year also pays $725 into Medicare. Hedge fund managers making more than $2 billion a year from carried interests pay nothing into Medicare. . . ."
Read the rest of this article here.
2/4/2012
Our Breakfast With Jim Reed, Candidate for California’s 1st Congressional District
Blog: Sierra Voices by Don Pelton
"As luck would have it — and entirely by accident — we shared a table with Jim Reed and his wife Carol at breakfast this morning at the Nevada County Democratic Women’s Club meeting at the Trolley Junction restaurant in Nevada City. Jim was there to address the meeting, as part of his campaign to represent the newly re-mapped 1st Congressional District. . . .
Jim is an attorney and tax expert who has been called to public service for a complex set of reasons, not the least of which apparently is a real sense of joy at being in the vital mix of things. His ready laugh and quick wit are a refreshing change from the McClinctock style of mean-spirited discourse that we have suffered through in the last few years.
He spoke for over half an hour on a number matters, including the plight of the middle class, the need to “tweak” Social Security, financial sector reform (including a stock transaction tax), his poltical strategy in the 1st district, etc.
He wants to be in Washington to participate in the reform that must take place in order to return our system to fairness. He feels that he has the exact skills needed for that reform, and — after listening to him — we believe he does too. . . ."
See a video of Jim's speech that day here.
12/29/2011
San Francisco Chronicle by Leland H. Faust
Wall Street is a raw deal for the 100 percent
(This article is used with permission of the author but is not an endorsement.)
"The stunning reality is that five years into the financial meltdown, it's business as usual on Wall Street - outlandish rewards for insiders with downside for almost everyone else. Occupy Wall Street protesters are right - something is wrong - but they're not sure what. Here's what I say: A rigged game affects not just the 99 percent, but everyone, and with global repercussions. . .
Make no mistake . . . I'm a hard-core capitalist. But capitalism has been hijacked, and I'm infuriated. For capitalism to work, people who assume risk should reap the rewards of success, but they also must suffer when losses occur.
If you're unconvinced, let's revisit the latest debacle - the implosion of yet another Wall Street darling, MF Global. The fallout of its bad bets on European bonds is hitting home hard, even in rural America, where many of its agricultural customers work. As the eighth-largest bankruptcy filing in U.S. history, MF Global represents just about everything that is wrong on Wall Street.
1. The cult of a Wall Street superstar: In 2010, Jon Corzine, the former chairman of Goldman Sachs and former governor of New Jersey, became CEO of MF Global. His goal was to transform the little-known futures broker into a powerhouse investment bank. It took him only 19 months to blow up an institution that dates back to 1793."
Read the rest of this article here.
1/3/2012
Record Searchlight by Jim Reed
Letter to the Editor -Refine Canada's oil here in California
"2011 was the year of the dysfunctional Congress. Just keeping the government running was a partisan battle with each side more interested in scoring points than accomplishing anything. Congress did less in 2011 that any year in memory. But at least the hated "earmark," funding for some congressman's pet project attached to a legislative bill that had nothing to do with it, was eliminated.Then as the year ended, Republican members of the House decided to revive the earmark. Both parties agreed that the country needed to have the payroll-tax holiday extended, unemployment benefits extended and the scheduled reduction in fees Medicare pays doctors delayed. As expected the parties fought over how to pay for it
The newer members of the House of Representatives would only agree, however, if an earmark was added to the bill funding a pipeline to bring oil from Canada to the Gulf Coast refineries. They knew that Democrats would not agree to this earmark because of environmental concerns, but the question has to be asked why they were willing to sacrifice their only shining accomplishment and use an earmark to make a political point."
December 2011
Plumas County News
"Democratic candidate for District 1, Jim Reed, was welcomed to Quincy by the Plumas County Democratic Central Committee on October 20th when he spoke to the group at their monthly meeting.
Reed, of course, emphasized jobs and the economy. He probed the crowd about the local unemployment rate, which he said was similar to the rest of District 1, in that across the Northern California mountain areait is higher than the national average, not just now, but for a long time previously. He discussed several ways to change that, noting that better funding for education and infrastructure are good places to start, as they represent long-term investments that benefit the economy both now and in the future..."
10/13/2011
Redding Searchlight by Sean Longoria
Dining Democrats: 150 Attend Party Benefit in Redding
"Some 150 people spent part of Wednesday night enjoying food, drinks, music and politics at "An Evening with Democrats" inside the Atrium at the Market Street Promenade in downtown Redding....
Reed has said his key campaign points include closing corporate tax loopholes that give tax breaks for sending jobs overseas. He's also said he supports raising the capital gains tax for the wealthy, who he says receive a "huge tax break" merely for living off the interest of their investments.
Reed's also focused on saving Social Security, which has been under fire recently from right-wing Republicans.
"It's not really in deep trouble like people would have you believe," he said..."
6/5/2011
Redding Searchlight by Jim Reed
Government can balance budget and protect middle class
"In 2008 we were on the precipice of a depression. Congress, led by President Bush and accelerated by President Obama, drastically increased government spending to avoid a depression. Some people talk of the "failed stimulus," but we did avoid a great depression. Had we cut spending in 2008 to balance the falling tax revenue resulting from the declining economy, we would have repeated the history of the Hoover administration, which led us into a decade-long depression. When it comes to the economy, timing is critical..."
5/8/2012
Chico Enterprise-Record by Larry Mitchell
Congressional candidates come together in Chico
"Seven of the eight candidates running in the June primary in the 1st Congressional District participated in Monday evening's forum in the Chico City Council chambers. . .
One question the candidates were asked was if they believed in 'human-caused climate change.'
Reed said he did and that virtually all the science shows there's no doubt about it.
Cheadle said he thought to some degree humans had caused global warming.
LaMalfa, Aanestad and Arrowsmith all said they didn't believe in it.
Stiglich and Oxley said they didn't know."
Read the rest of the article here.
5/10/2012
Chico News & Review by Ken Smith
Herger's hot seat: seven of eight candidates square off
"Rep. Wally Herger’s Jan. 10 announcement that he would not seek re-election to Congress, where he’s served since 1978, has resulted in eight candidates filing to run for what is now, following redistricting, the 1st District seat.Seven of those candidates took part in a question-and-answer forum on Monday (May 7) in the Chico City Council chambers hosted by the League of Women Voters. . . .
The question, 'Do you believe there’s such a thing as human-caused climate change?' elicited a range of responses. . . .
Reed was the only on who said he believes in climate change: 'I started out as an electrical engineer, so that gives me great respect for science and scientists,' he said. 'This is not even a controversial issue anymore. The top scientists have concluded that global warming is man-made.'"
Read the rest of the article here.
5/1/2012
Sacramento Bee Endorsements
Endorsements: Jim Reed, Sam Aanestad for 1st Congressional District
The Sac Bee calls Jim "thoughtful and worthy of support" in its recent endorsement of Jim!
Click here to read the whole article.
3/15/2012
Siskiyou Daily by Jim Reed
Top 1 percent don’t pay a fair share
I keep hearing the same story about the wealthy paying most of the taxes and how it is a misrepresentation to say that there is an unfair tax burden on the middle class.
It is true that wealthy people like Mitt Romney pay millions of dollars more in taxes than the average middle class taxpayer, but he is paying income taxes at a 15 percent rate when a single hard working taxpayer is paying at a rate of at least 25 percent on money earned above $34,500. The problem is that stock market income, dividends and capital gains are taxed at a flat 15 percent no matter how much income is received, while people working for a living are taxed with a progressive rate that tops out at 35 percent. Over 13,000 people for the year 2009 reported at least $10 million in income on their tax returns. Most of that income was from investments and was taxed at 15 percent. Yes, 15 percent of $10 million is more dollars than 25 percent of $50,000, but is that fair? (Keep reading here.)
2/12/2012
San Francisco Chronicle by Leland H. Faust
We should tax capital gains at higher rate
(This article is used with permission of the author but is not an endorsement.)
"Who wouldn't want the kind of tax treatment that presidential hopeful Mitt Romney received? His tax returns show that as a former partner at Bain Capital, a major private equity firm, he saved about $1.4 million in taxes in 2010 alone, thanks to a commonly used tax break.
Like other managers of private equity firms and hedge funds, Romney got part of his compensation as a share of profits. Because these managers are not paid this until profits are earned and because they do not invest their own money, the term "carried interest" is used to describe what they own. A carried interest held for more than one year is taxed as long-term capital gains (at a rate of 15 percent) rather than as ordinary income (at a rate of 35 percent for top earners).
The long-term capital gains rate is intended to encourage investment. But these managers are not investors risking their own capital to get their carried interest. They simply provide services. . . .
. . . Should Congress change the law to end this favored tax treatment and raise needed revenue? Absolutely. Here's why.
1. Inequity
Wealthy managers may pay federal tax at a rate lower than that of their own secretaries. A secretary earning $50,000 per year also pays $725 into Medicare. Hedge fund managers making more than $2 billion a year from carried interests pay nothing into Medicare. . . ."
Read the rest of this article here.
2/4/2012
Our Breakfast With Jim Reed, Candidate for California’s 1st Congressional District
Blog: Sierra Voices by Don Pelton
"As luck would have it — and entirely by accident — we shared a table with Jim Reed and his wife Carol at breakfast this morning at the Nevada County Democratic Women’s Club meeting at the Trolley Junction restaurant in Nevada City. Jim was there to address the meeting, as part of his campaign to represent the newly re-mapped 1st Congressional District. . . .
Jim is an attorney and tax expert who has been called to public service for a complex set of reasons, not the least of which apparently is a real sense of joy at being in the vital mix of things. His ready laugh and quick wit are a refreshing change from the McClinctock style of mean-spirited discourse that we have suffered through in the last few years.
He spoke for over half an hour on a number matters, including the plight of the middle class, the need to “tweak” Social Security, financial sector reform (including a stock transaction tax), his poltical strategy in the 1st district, etc.
He wants to be in Washington to participate in the reform that must take place in order to return our system to fairness. He feels that he has the exact skills needed for that reform, and — after listening to him — we believe he does too. . . ."
See a video of Jim's speech that day here.
12/29/2011
San Francisco Chronicle by Leland H. Faust
Wall Street is a raw deal for the 100 percent
(This article is used with permission of the author but is not an endorsement.)
"The stunning reality is that five years into the financial meltdown, it's business as usual on Wall Street - outlandish rewards for insiders with downside for almost everyone else. Occupy Wall Street protesters are right - something is wrong - but they're not sure what. Here's what I say: A rigged game affects not just the 99 percent, but everyone, and with global repercussions. . .
Make no mistake . . . I'm a hard-core capitalist. But capitalism has been hijacked, and I'm infuriated. For capitalism to work, people who assume risk should reap the rewards of success, but they also must suffer when losses occur.
If you're unconvinced, let's revisit the latest debacle - the implosion of yet another Wall Street darling, MF Global. The fallout of its bad bets on European bonds is hitting home hard, even in rural America, where many of its agricultural customers work. As the eighth-largest bankruptcy filing in U.S. history, MF Global represents just about everything that is wrong on Wall Street.
1. The cult of a Wall Street superstar: In 2010, Jon Corzine, the former chairman of Goldman Sachs and former governor of New Jersey, became CEO of MF Global. His goal was to transform the little-known futures broker into a powerhouse investment bank. It took him only 19 months to blow up an institution that dates back to 1793."
Read the rest of this article here.
1/3/2012
Record Searchlight by Jim Reed
Letter to the Editor -Refine Canada's oil here in California
"2011 was the year of the dysfunctional Congress. Just keeping the government running was a partisan battle with each side more interested in scoring points than accomplishing anything. Congress did less in 2011 that any year in memory. But at least the hated "earmark," funding for some congressman's pet project attached to a legislative bill that had nothing to do with it, was eliminated.Then as the year ended, Republican members of the House decided to revive the earmark. Both parties agreed that the country needed to have the payroll-tax holiday extended, unemployment benefits extended and the scheduled reduction in fees Medicare pays doctors delayed. As expected the parties fought over how to pay for it
The newer members of the House of Representatives would only agree, however, if an earmark was added to the bill funding a pipeline to bring oil from Canada to the Gulf Coast refineries. They knew that Democrats would not agree to this earmark because of environmental concerns, but the question has to be asked why they were willing to sacrifice their only shining accomplishment and use an earmark to make a political point."
December 2011
Plumas County News
"Democratic candidate for District 1, Jim Reed, was welcomed to Quincy by the Plumas County Democratic Central Committee on October 20th when he spoke to the group at their monthly meeting.
Reed, of course, emphasized jobs and the economy. He probed the crowd about the local unemployment rate, which he said was similar to the rest of District 1, in that across the Northern California mountain areait is higher than the national average, not just now, but for a long time previously. He discussed several ways to change that, noting that better funding for education and infrastructure are good places to start, as they represent long-term investments that benefit the economy both now and in the future..."
10/13/2011
Redding Searchlight by Sean Longoria
Dining Democrats: 150 Attend Party Benefit in Redding
"Some 150 people spent part of Wednesday night enjoying food, drinks, music and politics at "An Evening with Democrats" inside the Atrium at the Market Street Promenade in downtown Redding....
Reed has said his key campaign points include closing corporate tax loopholes that give tax breaks for sending jobs overseas. He's also said he supports raising the capital gains tax for the wealthy, who he says receive a "huge tax break" merely for living off the interest of their investments.
Reed's also focused on saving Social Security, which has been under fire recently from right-wing Republicans.
"It's not really in deep trouble like people would have you believe," he said..."
6/5/2011
Redding Searchlight by Jim Reed
Government can balance budget and protect middle class
"In 2008 we were on the precipice of a depression. Congress, led by President Bush and accelerated by President Obama, drastically increased government spending to avoid a depression. Some people talk of the "failed stimulus," but we did avoid a great depression. Had we cut spending in 2008 to balance the falling tax revenue resulting from the declining economy, we would have repeated the history of the Hoover administration, which led us into a decade-long depression. When it comes to the economy, timing is critical..."
Great News! Jim has been endorsed by the Chico News & Review; the District Attorney of Shasta County, and the Mayor of Chico!
Jim has already been endorsed by the California Teacher's Association, the California Teamsters, and the Sacramento Bee.
Jim has already been endorsed by the California Teacher's Association, the California Teamsters, and the Sacramento Bee.
Jim's Key Concerns
1. Fairness to the middle class:
2. Speaking in Washington for the people of the District, rather than political parties or special interest groups.
3. Creating local jobs.
4. Ending bipartisan bickering and finding middle ground to get our government working again.
- Saving Social Security and Medicare;
- Equality of income tax rates for working men and women with investors making more than $200,000; and
- Promoting investing in American companies while limiting gambling on the stock market.
2. Speaking in Washington for the people of the District, rather than political parties or special interest groups.
3. Creating local jobs.
4. Ending bipartisan bickering and finding middle ground to get our government working again.
Upcoming Events
5/27
PLUMAS COUNTY
Jim's Tour of Plumas County!
Estimated locations and times:
10 AM, Chester: Lake Almanor Memorial Weekend Craft Fair, and local businesses
12:30 PM: Quincy: Plumas County Democrats HQ, local businesses
3PM, Graeagle: “Bursting into Spring” art and craft show at the Graeagle Fire Hall and local businesses
6 PM, Taylorsville: Whistle Stop Campaign Party at the Grange
5/29
SHASTA COUNTY
Palo Cedro Candidates' Forum
6:30 PM, Millville Grange, Palo Cedro
More events coming soon!
PLUMAS COUNTY
Jim's Tour of Plumas County!
Estimated locations and times:
10 AM, Chester: Lake Almanor Memorial Weekend Craft Fair, and local businesses
12:30 PM: Quincy: Plumas County Democrats HQ, local businesses
3PM, Graeagle: “Bursting into Spring” art and craft show at the Graeagle Fire Hall and local businesses
6 PM, Taylorsville: Whistle Stop Campaign Party at the Grange
5/29
SHASTA COUNTY
Palo Cedro Candidates' Forum
6:30 PM, Millville Grange, Palo Cedro
More events coming soon!
