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Mitt Romney...


Political Discussion and Debate.

gin

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Post Tue Jan 24, 2012 1:26 pm

Re: Mitt Romney...

an opinion..
In 2010, Romney made $21.7 million, on which he gave nearly
$3 million in taxes at an effective tax rate of 13.9 percent.
but note.. about half of that tax paid that he was credited for was
paid 'offshore'.. so the percentage of total income taxes paid into 'US'
coffers was more like 7% percent not 14%.. just calling it how it is..

sorry but imo a guy running for pres who's paying a tax rate of 7% into
US coffers on such huge amounts of income is obscenely hypocritical..

the guy says he'll 'fix' the economy whilst half of his earnings come from abroad..
it's so hypocritical having his fortune working for him abroad and not in the US..
"If God didn't want them sheared, he would not have made them sheep."
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Overlord
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Post Tue Jan 24, 2012 8:12 pm

Re: Mitt Romney...

Not to defend this guy, but from what NPR said, he didn't pull any special tricks to be taxed at that rate (aside from the offshore stuff, and that didn't actually save him money it just put it elsewhere). Many of the very rich have all sorts of tricks they use which are legally questionable that enable them to pay less. So he may be super rich but he's amongst the most taxed of them.

I just wish the rich would pay the 30%-50% that ordinary Americans who work for a living end up paying in the end, even if the numbers get cooked so they don't reflect that.

Not that even that would really solve anything.
Now to him who works, the wages are not counted as grace but as debt. -Romans 4:4

gin

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Post Wed Jan 25, 2012 12:32 pm

Re: Mitt Romney...

hut.. but you 'are' defending him you
really are and because npr says it's ok??

did he do anything illegal possibly not but more probably yes..
but either way was it wrong to invest how he has.. absolutely..

since over the last few years he has had the bulk of his wealth through bain
in a ruse called 'a blind trust' invested around the world but not in the usa..

blind trust my ass.. he's not involved in the day to day stuff but overall he knows..
so that makes the blind trust a ruse he hides behind and possibly illegal but hard
to prove unless the 'trustee' or someone from bain comes forward.. fat chance..
you see the code amongst a den of thieves is they only talk between themselves..

http://news.yahoo.com/mitt-romneys-blin ... 41848.html
here's where word 'ruse' came right out of mitt's mouth
Romney was himself once skeptical of the notion that a politician could use a blind trust to preempt inevitable questions about his investment choices and potential conflicts. When he ran against Sen. Edward Kennedy in 1994, Romney spoke critically of Kennedy's claim that he had no control over his investments. "The blind trust is an age-old ruse," Romney told the Boston Globe at the time. But in 2003, as he prepared to take office as governor of Massachusetts, Romney placed his family's funds in his own blind trust to avoid whatever accusations could surface.

Romney's aides have referred to the blind trust in fending off political attacks about his investments ever since. In 2007, his GOP primary opponents took aim at several of his investments, including a stake in a firm that did business with Iran, shares of a Chinese oil company, and an interest in a company that engaged in embryonic stem cell research. Romney responded by announcing that Malt would take greater pains to insure Romney's investments would not conflict with his political views.
and true to form since he's known as a flopper and there is this..
But some experts have questioned whether someone with Malt's close ties to Romney could oversee the candidate's finances with true independence. In addition to serving as the trustee for Romney's charitable foundation, Malt's law firm has represented Romney's interests in legal disputes, and Malt served as the primary outside counsel to Romney's company, Bain Capital. A sign of those ties surfaced in August, when Romney filed his financial disclosure report and revealed that Malt had invested over $1 million of the candidate's money in the Solamere Founders Fund. Solamere is managed by Tagg Romney, Mitt's son.

Cleta Mitchell, a Washington, D.C. election lawyer who has done legal work for Rick Santorum's campaign, said it would be hard to explain how Romney's independent investment fund would orchestrate a $1 million investment with his son's firm without violating the terms of a standard blind trust -- terms that typically prohibit communication with family members.
because it really is a ruse the wealthy who hold or want to hold political
office use to fuck with us and get rich at it.. just look at the huge wealth
increases historically of those who hold office.. both dem's and rep's..

nothing against the man but he's a politician not a holier than thou who walks on water..
"If God didn't want them sheared, he would not have made them sheep."
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Overlord
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Post Thu Jan 26, 2012 12:15 pm

Re: Mitt Romney...

Gin, the reason he's paid taxes at about 15% is that he makes most of his money through investment, which is taxed at 15%, unlike wages and salaries which are taxed at higher rates.

You can't blame him for doing the best legal option in a system that's designed to benefit that kind of income. The law left an obvious, glaring loophole by design, and he used it. It's the law that's wrong; he's just following it. Unlike many of those in his industry.

Doesn't change the fact that he's still just an empty suit wanting to keep the ball rolling. But it would be no more correct to say that his tax rate is indicative of illegal behavior than to say that it's indicative of his participation of the murder of Abraham Lincoln.
Now to him who works, the wages are not counted as grace but as debt. -Romans 4:4
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Post Thu Jan 26, 2012 12:44 pm

Re: Mitt Romney...

hutoftung wrote:It's the law that's wrong


- Not really... You have to understand that the whole purpose of taxes is to control behavior. In a fiat currency economy, the government doesn't need our money at all. They just take it or let us keep it as a training aid.

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I may be gettin' old, But I've been fightin' DIRTIER LONGER!
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Overlord
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Post Thu Jan 26, 2012 3:32 pm

Re: Mitt Romney...

That still doesn't say anything about morality, OH.

Also, for the record, I was not defending Romney, I was pointing out the flaws in that particular criticism of him--which are two separate things.
Now to him who works, the wages are not counted as grace but as debt. -Romans 4:4
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Post Thu Jan 26, 2012 8:48 pm

Re: Mitt Romney...

hutoftung wrote:I was pointing out the flaws in that particular criticism of him--which are two separate things.


- Agreed. He's a horrible person... But I don't begrudge anyone paying as little in taxes as they possibly can. In fact, I consider it to be one's patriotic duty to do so! 8-)

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I may be gettin' old, But I've been fightin' DIRTIER LONGER!
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Overlord
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Post Thu Jan 26, 2012 9:14 pm

Re: Mitt Romney...

That was basically my original point in this thread, OH. Rather than raise taxes on the rich, I'd rather they eliminate taxes on income (i. e. taxes on the poor/workers) and cut what government does to fit within the new budget.
Now to him who works, the wages are not counted as grace but as debt. -Romans 4:4
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Post Wed Feb 29, 2012 4:27 pm

Re: Mitt Romney...

Hilarious article (with pix) comparing Mitt to a silent film star:

http://www.spiegel.de/international/wor ... 88,00.html

He'll do just fine - SO LONG AS HE CAN KEEP HIS MOUTH SHUT!!! :lol:
'Out here on the perimeter there are no stars. Out here we is stone, immaculate'
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