Archive for September 19th, 2012

Reprise: Who do income tax payers support – Obama or Romney?

September 19, 2012

We posted this last week, ahead of the curve …

Since the bruhaha erupted when Carter’s grandson leaked the pirated tape of Romney speaking to donors, I thought a repost was in order …

Bottom line: It’s not 100% taxpayers for Romey; 100% non-taxpayers for Obama … but there is a statistically significant difference.

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Who do tax payers support – Obama or Romney?

That’s an easy one … but, the latest CNN poll was the first I spotted that divides the population along those lines … or, at least, sorta does.

CNN breaks the sample by those earning less than and more than $50,000 .

$50,000 is about the point where folks have to start paying Federal income taxes.*

No surprises in the data.

Romney has the edge among Federal tax payers.

Obama gets those who don’t pay Federal income taxes … by a whopping 57% to 42%.

Uh-oh.

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* P.S. Yeah, yeah, yeah about payroll taxes … but they are “insurance” payments with directly associated benefits.

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Behavioral analytics … bad when Target does it … OK for political campaigns?

September 19, 2012

A couple of months ago Target got some bad press when it was revealed that the company was mining customers’ purchase histories to slot them into behavioral groups susceptible to tailored promotional pitches.

For example, Target identified purchases that mothers-to-be made early in their pregnancies – sometimes before they even knew they were pregnant.  Think bigger jeans, skin care lotions.

Many folks railed that it was an example of big brother invasion of privacy.

Well, guess what?

Political campaigns are using the same methods that Target was using

The modern science of politics is increasingly based on principles from behavioral psychology and data analytics.

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Campaigns today mine large data bases with mathematical algorithms that slot folks into categories and provide the basis for how people should be approached (or ignored).

According to the WSJ:

Perhaps the most valuable data in modern campaigns comes from statistical “microtargeting” models—the political world’s version of credit scores.

Campaigns gather thousands of data points on voters, culled from what they put on their registration forms, what they have told canvassers who have visited their homes in the past, and information on their buying and lifestyle habits collected by commercial data warehouses.

The campaigns then run algorithms trawling for patterns linking those demographic characteristics to the political attitudes measured in their polling.

Financial institutions run such statistical models to generate predictions about whether a given individual will demonstrate a certain behavior, like paying a bill on time or defaulting on a loan.

Campaigns do the same, only they are interested in predicting political behavior.

So it’s typical now to generate individual scores, presented as a percentage likelihood, that a voter will cast a ballot, support one party or the other, be pro-choice or antiabortion, or respond to a request to volunteer.

These scores now stick to voters as indelibly as credit scores.

And just as a bank officer won’t sign off on a loan without requesting one, a field director for a campaign won’t send a volunteer to a voter’s door without knowing the relevant number.

BTW: It’s Team Obama that’s doing most of this stuff.

Bad for Target … but OK for Obama.

Hmmm

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WSJ source: “The Victory Lab: The Secret Science of Winning Campaigns” by Sasha Issenberg

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Why do so many Americans hate paying income taxes?

September 19, 2012

It’s not simply about the money.

Researchers Jeff Kidder of Northern Illinois University and Isaac Martin from the University of California-San Diego have found that there are moral underpinnings that help explain why many hate paying taxes.

Rather than being associated with a free-market ideology or a person’s own economic interests, tax hostility is more linked with moral principles.

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“Tax talk is about dollars, but it is also about a moral sense of what is right.”

Generally, respondents saw income taxes as violating the moral principle that hard work should be rewarded.

The respondents “portray taxation as a threat to the moral order because they believe taxes deprive deserving hardworking middle class people of dignity, while rewarding others who are undeserving (both rich and poor)”.

Entrepreneurs are particularly anti-tax.

In fact, a recent survey by payroll service provider Paychex found that tax codes, along with employment regulations and retirement security are the top three election issues for small business owners.

Source: LiveScience extract from the Journal Symbolic Interaction

10 qualities of successful entrepreneurs

September 19, 2012

Punch line: Not enough people understand who entrepreneurs are or how to develop them. Jim Clifton, Gallup Chairman and CEO, uncovers what propels these exceptional businesspeople.

Pensive businessman - Image by flickr user s_falkow

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Excerpted fro Gallup Business Journal, “What Drives Entrepreneurs to Win”

In his book The Coming Jobs War, Gallup Chairman and CEO Jim Clifton calls entrepreneurship the “scarcest, rarest, hardest energy and talent in the world to find.”

So how do you rise above the challenges that entrepreneurship poses? Clifton offers some sage advice.

  1. Know your personal brand. Successful entrepreneurs know themselves well and can perceive others accurately.
  2. Take on challenges. Entrepreneurs [should] stretch themselves, raise the bar, face their fears, and [be] willing to experiment.
  3. Think through possibilities and practicalities. Entrepreneurs must be creative and think beyond the boundaries of what exists.
  4. Promote the business. Successful entrepreneurs are their own best spokespeople.
  5. Focus on business outcomes. Highly successful entrepreneurs judge decisions … based on their observed or anticipated effect on profit … [and they] set goals and live by their commitment to them.
  6. Be a perpetual student of the business. Continually gaining input and acquiring the knowledge and skills required to grow the business are essential to an entrepreneur’s success.
  7. Be self-reliant. Successful entrepreneurs are prepared to do whatever must be done to see the business succeed.
  8. Be a self-starter. Successful entrepreneurs are passionate doers who push to make things happen.
  9. Multiply yourself through delegation. Entrepreneurs who are successful … are willing and able to contemplate a shift in style and control.
  10. Build relationships. The ability to build strong relationships is crucial for survival and growth. Successful entrepreneurs are adept at building relationships, have strong social awareness and can attract and maintain a constituency.

Edit by JDC

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