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ProSense

(116,464 posts)
Tue Apr 17, 2012, 09:25 AM Apr 2012

Ann Romney's tale of 'struggling': We 'learned hard lessons' living off our stock portfolio

Ann Romney's tale of 'struggling': We 'learned hard lessons' living off our stock portfolio

by Kaili Joy Gray

You're going to need a hanky for this sob story, as told by Ann Romney back in 1994, of just how hard young Mitt and Ann struggled when they were just starting out:

They were not easy years. [...]

We were happy, studying hard. Neither one of us had a job, because Mitt had enough of an investment from stock that we could sell off a little at a time.

The stock came from Mitt’s father. When he took over American Motors, the stock was worth nothing. But he invested Mitt’s birthday money year to year — it wasn’t much, a few thousand, but he put it into American Motors because he believed in himself. Five years later, stock that had been $6 a share was $96 and Mitt cashed it so we could live and pay for education.

Let's interrupt this tale of woe for just a minute to reflect on the value of $96-a-share stock back in 1969, when this great triumph over poverty occurred. Andrew Sabl, who dug up this old Boston Globe interview, did some quick calculations to figure out just how "not easy" it was to live off Mitt's stock portfolio:

By Ann’s own account, the stock amounted to “a few thousand” dollars when bought, but it had gone up by a factor of sixteen. So let’s conservatively say that they got through five years as students—neither one of them working—only by “chipping away at” assets of $60,000 in 1969 dollars (about $377,000 today).

Amazing they didn't starve to death, isn't it? How ever did they survive? Please, Ann, tell us more:

Mitt and I walked to class together, shared housekeeping, had a lot of pasta and tuna fish and learned hard lessons. [...]

We were living on the edge, not entertaining. No, I did not work. Mitt thought it was important for me to stay home with the children, and I was delighted.

Right after Mitt graduated in 1975, we had our third boy and it was about the time Mitt’s first paycheck came along. So, we were married a long time before we had any income, about five years as struggling students.

So the young Romneys, "living on the edge," refused to get jobs, which some people say parents "need to" do to "have the dignity of work," and also to ensure that they don't raise "indolent and unproductive" children.

- more -

http://www.dailykos.com/story/2012/04/16/1083802/-Ann-Romney-s-tale-of-struggling-We-learned-hard-lessons-living-off-our-stock-portfolio-



Mitt Romney says he needs a new plan on how 'to get the women'

by Jed Lewison

Mitt Romney, speaking behind closed-doors to high-dollar campaign donors on Sunday in Florida:

The candidate said he didn't expect a fair fight in the media, saying he believed many commentators on television were liberals. He also said CNN reporter and host Wolf Blitzer was a good interviewer, and said Fox News had been good to him. Fox News is owned by News Corp., which also owns The Wall Street Journal.

"Fox is watched by the true believers," Mr. Romney said. "We need to get the independents and the women."

Poor Mitt. He doesn't understand his problem with the ladies has nothing to do with how he's communicating with them. It's what he's communicating. He just doesn't understand women—that's why he talks about them as if they were foreign creatures who need to be reported on by his wife. He probably thinks that if only he had a friend who owned a network designed for women that he could do well with them. But really what he should be doing is stop trying to pretend that waging war on birth control coverage has anything to do with religious liberty.

http://www.dailykos.com/story/2012/04/16/1083843/-Mitt-Romney-says-he-needs-a-new-plan-on-how-to-get-the-women-


Poor clueless Rmoney.

24 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Ann Romney's tale of 'struggling': We 'learned hard lessons' living off our stock portfolio (Original Post) ProSense Apr 2012 OP
omg MItt robbed Ann of her DIGNITY Enrique Apr 2012 #1
Two turds sitting on a Persian carpet. pangaia Apr 2012 #5
Rmoney math ProSense Apr 2012 #6
Clueless, just totally clueless. hobbit709 Apr 2012 #2
yoohoo, Ann... NJCher Apr 2012 #3
truly frightening Whisp Apr 2012 #4
What's frightening ProSense Apr 2012 #13
Oh, brother. catbyte Apr 2012 #7
Didn't he refer to$370,000 as a small doc03 Apr 2012 #8
I might understand what you went through, Ann Proud Liberal Dem Apr 2012 #9
"As God is my witness, we'll never have to sell our stock again!" tanyev Apr 2012 #10
I had no idea life was so tough on them in the college years. Ganja Ninja Apr 2012 #11
They were living on the edge!!!! Avalux Apr 2012 #12
why didn't you just sell your stock? renate Apr 2012 #19
WTF... Mitt got THOUSANDS of dollars for his birthday money! Taitertots Apr 2012 #14
original interview ... Boston Globe handmade34 Apr 2012 #15
Well, ProSense Apr 2012 #18
No entertaining (sob!), tuna noodle casserole (bigger sob!), "only" $377,000 to live off of riderinthestorm Apr 2012 #16
Yeah, Ann, that's really on the edge there! Bake Apr 2012 #17
Fox is watched by true believers? WTF is he smoking Initech Apr 2012 #20
They ALWAYS think they can "fix it in marketing" annabanana Apr 2012 #21
Rmoney ProSense Apr 2012 #23
Oh my. Scurrilous Apr 2012 #22
Roughing it meant having to eat sevruga caviar instead of beluga aint_no_life_nowhere Apr 2012 #24

Enrique

(27,461 posts)
1. omg MItt robbed Ann of her DIGNITY
Tue Apr 17, 2012, 09:28 AM
Apr 2012
No, I did not work. Mitt thought it was important for me to stay home with the children, and I was delighted.

ProSense

(116,464 posts)
6. Rmoney math
Tue Apr 17, 2012, 09:43 AM
Apr 2012

"Not very much" money is $377,000 (in today's dollars).


They actually believe that. Rmoney characterized the more than $374,000 he made in speaking fees as "not very much" money.

http://www.democraticunderground.com/1002243282

The Romneys have no clue what that means in real terms.

To a person earning two times the minimum wage, that's an annual income for 14 years, or after taxes enough for more than 19 years.

To millions of Americans that's a lifetime.

NJCher

(35,648 posts)
3. yoohoo, Ann...
Tue Apr 17, 2012, 09:39 AM
Apr 2012

Keep talking. You're such a gift.

Tuna! (sob)

No entertaining! (back of hand to forehead)




Cher

 

Whisp

(24,096 posts)
4. truly frightening
Tue Apr 17, 2012, 09:41 AM
Apr 2012

are they really this clueless or are they acting this out?

I think they really are out of touch and to them being without caviar for one day would be just as devastating as not being able to afford taking your child to a dentist.

ProSense

(116,464 posts)
13. What's frightening
Tue Apr 17, 2012, 10:18 AM
Apr 2012

is watching people jump through hoops to try to give merit to anything the Romney's say.



catbyte

(34,360 posts)
7. Oh, brother.
Tue Apr 17, 2012, 09:44 AM
Apr 2012

The Romneys give clueless a whole new meaning.

Diane
Anishinaabe in MI & mom to Leo, Sophie, Taz & Nigel, members of Dogs Against Romney, Cat Division
"We ride inside--HISS!”

doc03

(35,324 posts)
8. Didn't he refer to$370,000 as a small
Tue Apr 17, 2012, 09:45 AM
Apr 2012

amount of money from speaking fees. I wonder what a few thousand was to him back in the day, then multiply it by 16 it could be millions. I guess that is one of the reasons he won't release any tax returns.

Proud Liberal Dem

(24,402 posts)
9. I might understand what you went through, Ann
Tue Apr 17, 2012, 09:47 AM
Apr 2012

if I had ever been living off a stock portfolio at any time in my life.

Ganja Ninja

(15,953 posts)
11. I had no idea life was so tough on them in the college years.
Tue Apr 17, 2012, 09:50 AM
Apr 2012

It sounds like Mitt had to drive the same Porsche for 5 years straight. Think of the depravity.

Avalux

(35,015 posts)
12. They were living on the edge!!!!
Tue Apr 17, 2012, 09:52 AM
Apr 2012

Hey Ann - living on the edge looks like this:

Single mom, three young daughters, no job, no house, no car, no one to help.

That was me in 1998, just a few years after you and Mitt were struggling so hard to survive. Forgive me if I don't sympathize.

renate

(13,776 posts)
19. why didn't you just sell your stock?
Tue Apr 17, 2012, 11:59 AM
Apr 2012

I mean, having to sell it off instead of living off the dividends is pretty rough, but that's what an emergency fund of stock is for.

Seriously, though, congratulations on making it through such a difficult situation--I'm sorry you had to do it. It must have been a very lonely feeling.

handmade34

(22,756 posts)
15. original interview ... Boston Globe
Tue Apr 17, 2012, 10:48 AM
Apr 2012
http://pqasb.pqarchiver.com/boston/access/62026638.html?FMT=ABS&FMTS=ABS:FT&type=current&date=Oct+20%2C+1994&author=Jack+Thomas%2C+Globe+Staff&pub=Boston+Globe+(pre-1997+Fulltext)&desc=Ann+Romney%27s+sweetheart+deal+She+decided+her+love+of+30+years+should+be+senator

"The stock came from Mitt's father...so we could live and pay for education.

...we took the now-famous loan that Mitt talks about from his father and bought a $42,000 home in Belmont,...We stayed there seven years and sold it for $90,000, so we not only stayed for free, we made money.

...we were married a long time before we had any income, about five years as struggling students..."


she obviously did not know the dignity of real work... no income??? the free money from George Romney was most certainly income!!... and being able to borrow money from him... the Romneys do not understand how most people live and what they have to do to get by... very out of touch with the majority of people...






 

riderinthestorm

(23,272 posts)
16. No entertaining (sob!), tuna noodle casserole (bigger sob!), "only" $377,000 to live off of
Tue Apr 17, 2012, 10:52 AM
Apr 2012

during the college years (huge wail of grief and horror!)





Honestly, what the fuck. I really mean that. I was pissed yesterday reading this nonsense but it makes me even more pissed today. I was scavenging untouched baked potatoes off customer plates from my waitress job to eat dinner, ramen, pb and j... a tuna noodle casserole was completely beyond my budget in those days. Its just really infuriating to see how the 1% really think they're "suffering".

Bake

(21,977 posts)
17. Yeah, Ann, that's really on the edge there!
Tue Apr 17, 2012, 10:55 AM
Apr 2012

She's as stupid and out of touch as her vulture capitalist husband. I hope America is listening.

Bake

Initech

(100,059 posts)
20. Fox is watched by true believers? WTF is he smoking
Tue Apr 17, 2012, 12:06 PM
Apr 2012

Fox is watched by people who don't care about facts.

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