Leaked Bain Documents: More Romney Sleaze
“Romney Sleaze” — excuse the redundancy.
Some leaked documents are providing a glimpse into the methods used by super-wealthy tax dodgers. 950 pages of audits and financial statements from twenty-one funds — most of them affiliated with Bain Capital — have revealed that Mitt Romney is even sleazier than we thought.
There’s no smoking gun; nothing illegal. He’s just slippery. Very slippery.
As we already know, most of Romney’s fortune is tucked away in the Cayman Islands, Bermuda and Switzerland. A writer from Gawker said:
“The documents reveal the mind-numbing, maze-like, and deeply opaque complexity with which Romney has handled his wealth, the exotic tax-avoidance schemes available only to the preposterously wealthy.”
Some of these funds make use of “blocker entities.” This isn’t exactly a household name unless you’re a multimillionaire frantically trying to hide your money so you can weasel out of paying taxes.
Other funds have financial statements saying the fund “intends to conduct its operations so it will … not be subject to United States federal income or withholding tax …”
So this is the “successful” career Romney is touting. Take over a company, lay off most of the workers and then sell the company at a huge profit. Rinse and repeat. And then squirrel away your ill-gotten fortune in offshore accounts so you don’t have to pay any taxes; don’t have to help contribute to the infrastructure that made your success possible.
Whatever anybody thought of the corporate takeover barons of the 1980s and ‘90s — Carl Icahn, T. Boone Pickens, Charles Hurwitz, etc. — did ANYBODY seriously think one of these people should be President of the United States?!?!?!?
Labels: Gawker Bain documents, Mitt Romney Bain Capital, Mitt Romney blocker entities
posted by Tom Harper @ 1:55 PM
10 Comments:
The republicans started the bain-ification of the US when the crashed the economy and started the layoff of American workers. They have continued the bain-ification by refusing to pass any effective jobs program, and now they want to finished it off by bringing in the master of Bain-ification, Romney, to sell of the US assets and pocket the profit among themselves.
The new republican mantra -- to hell with the American people!
Oh you libruls and yer gotcha stuff. Who among us had not used the Cayman's or Switzerland for their money. Wait what's that, no one here. Well you people just need to get over it and realize the Robme's are just better people than you people are and they have given you all they need to because freedumz or some such :)
Or we can follow Obama's plan ,spend other people's money to invest in failed companies and stick us with the bill. I guess 6 million a year in taxes isn't enough is it?
The democrats don't really need any more from the rich because they know where the biggest pool of money comes from and who always gets stuck with the tab. The Middle Class Obama is always looking out for,who by the way has decreased since Obama took office.
Forward my butt.
Now maybe if government was more responsible with other people's money there would be no need to hide it from them.
Damn now if only Romney would fork over some more we wouldn't be missing all those billions still owed us from Solyndra,GM,cash for clunkers.etc...
Or we can follow Obama's plan ,spend other people's money to invest in failed companies and stick us with the bill. I guess 6 million a year in taxes isn't enough is it?
Your utter and complete lack of intelligence is stunning to behold. I often wonder if trolling somebody as stupid as you are is even worth the effort, since you're probably too stupid to grasp even the most rudimentary concepts. You are a hateful, treasonous pus sack, and humanity would be much better off if you'd gather up a few of your fellow Supermen and head for that island Rand wrote about. We could try to undo the damage you idiots have done while you all starve to death.
Jerry: I guess we'll see what happens to all of us when President Romney outsources the entire country.
Jess: I realize that if I work much much harder, I too might become a VIP and I'll finally have a bank account that I can stash in Bermuda.
JR: Don't hold back now; tell us how you really feel.
The sell off has already begun.
Jerry: Yup, it begins.
Lisa took time out of a wasted existence to write, "Or we can follow Obama's plan ,spend other people's money to invest in failed companies and stick us with the bill."
Here's something to make your day.
"CNN reports 'the Federal Reserve finally has wiped its hands clean of AIG and turned a nearly $18 billion profit for taxpayers in the process.'”
"Insurance giant AIG, or American International Group, “played a major role” in the 2008 financial meltdown we’re still clawing back from. At the time, the government bought up a lot of AIG’s bad debt to keep things from getting worse – something that doesn’t usually happen, and a move that couldn’t quickly be undone.
"The good news is that the U.S. Federal Reserve just sold the last of the debt it was holding, for a $6.6 billion profit. Combined with earlier sales and a line of credit, that adds up to the $18 billion figure."
Wouldn't you be happier at FreeRepublic or Red State?
Wow that doesn't even put a dent in GM's taxpayer loan.
SW: That's definitely good news about AIG and the Federal Reserve.
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