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kpete

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Member since: Fri Sep 17, 2004, 03:59 PM
Number of posts: 46,345

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OBAMA/BIDEN - SUBJECT: Romney’s Tax Dodge Extended to Businesses He Managed

SUBJECT: Romney’s Tax Dodge Extended to Businesses He Managed




First, CNN published an op-ed by two tax experts who describe in detail a shelter employed by Marriott – and overseen by Romney – to report fictional losses exceeding $70 million. Romney was the head of the company’s audit committee at the time Marriott employed this strategy that the experts, Peter C. Canellos and Edward D. Kleinbard, call “perhaps the largest tax avoidance scheme in history.” Marriott was on the vanguard of tax avoidance, and the op-ed’s authors rightly note that the Republican nominee’s “endorsement of this stratagem provides insight into Romney’s professional ethics and attitude toward tax compliance obligations.”

Second, Bloomberg News reported that under Mitt Romney’s leadership, Bain Capital avoided taxes by funneling the profits it made from buying and selling Italy’s version of the Yellow Pages through a shell corporation in Luxembourg, a widely recognized tax haven. The billion-dollar deal was “one of the biggest windfalls” of Romney’s tenure at Bain.

Additionally, the Los Angeles Times reported that the Romneys went to great lengths to lower their property-tax bill on their $12 million La Jolla, Calif., home. The story raises questions about whether the Romneys grossly exaggerated the devaluation of their beachfront mansion to lessen their tax burden.

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There are many outstanding and serious questions that have raised about Mitt Romney's
manipulation of the tax laws:
1. The history of Romney’s Swiss bank account, which he failed to properly disclose on his
personal financial disclosure reports and was revealed only by the single full year of tax
returns Romney has disclosed so far.
2. How and when the Bermuda corporation Romney has owned for nearly 15 years – but
had transferred to a blind trust in his wife’s name the day before he was sworn in as
Governor – ended up back in his full ownership of outside of the trust, as reported on his
2010 tax return.
3. The details he recently promised ABC News (a promise on which he then reneged) about
whether he ever paid a lower income-tax rate than the 13.9 percent he paid in 2010, far
lower than what many Americans pay.
4. Details of Romney’s personal interests in at least 12 Bain Capital holdings in the Cayman
Islands, worth as much as $30 million.
5. How Mitt Romney’s IRA grew to become worth as much as $100 million despite an
annual contribution limit of $30,000.
6. To what extent was Romney personally involved in the tax trickery that Italian taxpayers
are still paying a price for.
7. To what extent Romney gained financially by turning a blind eye to the largest tax
avoidance scheme in history when he led Marriott’s audit committee.

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the rest:
http://secure.assets.bostatic.com/pdfs/labolt-memo-tax/labolt-memo-tax.pdf
MORE:
http://news.firedoglake.com/2012/08/10/reid-aide-adds-more-details-on-romney-tax-return-source/

Romney Welfare Ad: "Toxic Racial Stereotypes" Says Philly Inquirer Columnist

The American Debate: Despicable and desperate

Lying is endemic to politics, but Mitt Romney may have pioneered a new low this week. His TV ad attacking President Obama's welfare policy collides with empirical fact, but that's not the worst of it. Aimed at working-class whites, it also implicitly traffics in toxic racial stereotypes.

................

When I listen to Romney on this issue and see that ad, I am reminded of what the writer Mary McCarthy famously said of Lillian Hellman: "Every word she writes is a lie, including and and the."

........................

What a shame that the GOP nominee has seen fit to slum in this manner. It's bad enough that the welfare ad bears no resemblance to factual reality. What's worse is that he has dredged up the racially coded tactics that Republicans employed so often in the '80s and '90s, including Ronald Reagan's loaded references to "welfare queens" and George H.W. Bush's TV ads equating crime with blacks. Romney is traveling the same low road, tapping the old stereotypes about how Democrats supposedly want to shovel taxpayer money to shiftless welfare recipients - now with a black president wielding the shovel.

http://www.philly.com/philly/opinion/inquirer/20120810_The_American_Debate__Despicable_and_desperate.html
http://www.dailykos.com/story/2012/08/10/1118533/-Romney-Welfare-Ad-Toxic-Racial-Stereotypes-Says-Philly-Inquirer-Columnist

"Dying for Work."



(AP) LAS VEGAS - Even by Las Vegas standards, it was a shocking billboard: A mannequin dangling on a hangman's noose below a black sign with the ominous words "Dying for Work."
http://www.cbsnews.com/8301-201_162-57489429/hanging-effigies-from-billboards-shock-vegas-drivers/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+cbsnews%2Ffeed+(CBSNews.com)

The Monetary Value of a Human Life Illustrated


http://warisacrime.org/content/monetary-value-human-life-illustrated

Joseph Stiglitz: 'Romney-‘Why is he getting so much money, and he brought us to the brink of ruin?’

Joseph Stiglitz: 'This Deficit Fetishism Is Killing Our Economy'


...................................


“The financial crisis really made this easy to understand. Inequality has always been justified on the grounds that those at the top contributed more to the economy — ‘the job creators.’

“Then came 2008 and 2009, and you saw these guys who brought the economy to the brink of ruin walking off with hundreds of millions of dollars. And you couldn't justify that in terms of contribution to society.

“The myth had been sold to people, and all of a sudden it was apparent to everybody that it was a lie.

“Mitt Romney has called concerns about inequality the ‘politics of envy.’ Well, that's wrong. Envy would be saying, ‘He's doing so much better than me. I'm jealous.’ This is: ‘Why is he getting so much money, and he brought us to the brink of ruin?’ And those who worked hard are the ones ruined. It's a question of fairness…”

http://geniusofinsanityworld.blogspot.com/2012/01/mitt-romney-bitter-politics-of-envy.html

"Dirty, Disgusting and Totally Reprehensible...

French Healthcare Inflation Vs. US Healthcare Inflation In One Devastating Chart

French Healthcare Inflation Vs. US Healthcare Inflation In One Devastating Chart
Joe Weisenthal | Aug. 9, 2012, 3:23 PM | 2,600 | 32


We're doing more tooling around through the new European inflation data that was just added to FRED and we thought this was interesting.

The blue line represents healthcare inflation in the US.
The red line represents healthcare inflation in France, where healthcare is universal.




Read more: http://www.businessinsider.com/french-healthcare-inflation-vs-us-healthcare-inflation-in-one-devastating-chart-2012-8#ixzz2366ixY5x


Ohhh nelly: Fox Poll: Obama Up 9 on Romney!!!

Ohh nelly. Fox News:

"Mitt Romney has had a tough couple of weeks on the campaign trail -- and it shows in the latest Fox News poll. After a barrage of campaign ads, negative news coverage of his overseas trip and ongoing talk about his tax returns, Romney’s favorable rating and standing in the trial ballot have declined. As a result, President Obama has opened his biggest lead since Romney became the presumptive Republican nominee.

The president would take 49 percent of the vote compared to Romney's 40 percent in a head-to-head matchup if the election were held today, the poll found. Last month, Obama had a four percentage-point edge of 45 percent to 41 percent. This marks the second time this year the president has had a lead outside the poll’s margin of sampling error."

http://www.foxnews.com/politics/2012/08/09/fox-news-poll-obama-lead-grows-as-romney-support-slips/#ixzz235eVrxOC
http://www.dailykos.com/story/2012/08/09/1118407/-Fox-Poll-Obama-Up-9-on-Romney

RomneyHood - but wait, it gets worse...

amazing Baby & Prez pic

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