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TreasonousBastard

(43,049 posts)
Wed Jul 18, 2012, 11:13 AM Jul 2012

Has it been mentioned that Romney gave the McCain campaign 23 years...

worth of tax returns when he was vetted for Veep? Now he's letting us see 2010 and '11.

So then, the question might be-- what happened in the years 2008 and 2009 that scare him so much?

11 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Has it been mentioned that Romney gave the McCain campaign 23 years... (Original Post) TreasonousBastard Jul 2012 OP
Repeatedly - maybe you haven't seen the news in a couple of days. The Velveteen Ocelot Jul 2012 #1
It's been all over the news I hear and read, just... TreasonousBastard Jul 2012 #4
mymymy annabanana Jul 2012 #2
How many years did he reveal to become gov of MA? HereSince1628 Jul 2012 #3
Apparently, none... TreasonousBastard Jul 2012 #6
So that's why Sarah Palin happen. Life Long Dem Jul 2012 #5
Here is an excellent read on this. Ruby the Liberal Jul 2012 #7
Good explanation of the problem... TreasonousBastard Jul 2012 #8
Here is a fun one Ruby the Liberal Jul 2012 #9
You realize, of course, that... TreasonousBastard Jul 2012 #10
Why do you think I am enjoying this so much? Ruby the Liberal Jul 2012 #11

The Velveteen Ocelot

(115,661 posts)
1. Repeatedly - maybe you haven't seen the news in a couple of days.
Wed Jul 18, 2012, 11:16 AM
Jul 2012

And some people say Mittens' tax returns are what scared McCain away and caused him to choose Palin instead. Yesterday McCain insisted that wasn't the reason; it was just that Palin was the better candidate.



TreasonousBastard

(43,049 posts)
4. It's been all over the news I hear and read, just...
Wed Jul 18, 2012, 11:31 AM
Jul 2012

hadn't noticed it here in all the noise.

Granted, Mittens had some expectation of privacy with the campaign and McCain isn't going to say the taxes were a problem so we'll never know what really happened, but it's just not making any kind of sense.

HereSince1628

(36,063 posts)
3. How many years did he reveal to become gov of MA?
Wed Jul 18, 2012, 11:26 AM
Jul 2012

If it's really just about 2008-2009 his release in Massachusetts should show greater transparency.


Ruby the Liberal

(26,219 posts)
7. Here is an excellent read on this.
Wed Jul 18, 2012, 02:57 PM
Jul 2012

Just posted this in GD, but don't see it here.

http://www.cnn.com/2012/07/18/opinion/kleinbard-canellos-romney-tax/index.html?hpt=hp_c1

They are laying out their top 5 red flags:

1. Swiss accounts and amnesty
2. The "magic oak" IRA
3. How the trusts were funded (see #2)
4. The shell game complexity of entities noted
5. Effective tax rate

TreasonousBastard

(43,049 posts)
8. Good explanation of the problem...
Wed Jul 18, 2012, 03:20 PM
Jul 2012

most of it I've heard on various NPR programs, but this gets at the essentials.

Now, for some answers...

Ruby the Liberal

(26,219 posts)
9. Here is a fun one
Wed Jul 18, 2012, 04:37 PM
Jul 2012

In a wonky way. Apparently Bain allowed 2 tier stock offerings, so that people could buy pink sheets on companies they were targeting and hold them through merger and/or IPO. The kicker is that they allowed this within the IRAs.

Too dry for mainstream I guess - this was released at the end of March.

No hint of insider trading going on there.

http://live.wsj.com/video/bain-capital-unique-employee-ira-plan/4517D71E-5BE5-4082-A63E-2D8194809BA4.html

TreasonousBastard

(43,049 posts)
10. You realize, of course, that...
Wed Jul 18, 2012, 05:30 PM
Jul 2012

this is not at all unusual and goes on everywhere there are large fortunes being made larger. When the people screaming about the 1% finds out what they really do, heads will explode.

Not that I'm a fan of money being used non-productively just to make more money, but a part of me does admire the inventiveness of some of the schemes. And, when there are fewer productive ways to invest, the money will find a way to do something. It's like money has the same urge to reproduce that life forms have.

One wonders if some of these schemers had studied physics instead of finance...





Ruby the Liberal

(26,219 posts)
11. Why do you think I am enjoying this so much?
Wed Jul 18, 2012, 05:58 PM
Jul 2012

I don't want the man to release a thing. Not so much as a post it note. Even wrote him a 'letter' yesterday encouraging him to hold his ground on this.

Because people like 'wealth' but they don't want to watch that wealth sausage being made. I don't for a minute believe that anything was illegal - he has teams of people on retainer to make sure he is dancing on the edge of that knife. Well, other than his lying when its convenient - as there is that whole federal disclosure felonious lying thing (and didn't they take down Capone with Mail Fraud?)

Nah, I am thoroughly enjoying this because the question hanging in mid-air like this opens all kinds of doors to speculations and scenraios that has people going "What? Thats legal!?" that would never happen in a post-record-dump analysis.

Williard should have stood up on Day 1 back in 2008 (or 2002, or 1994) and owned it.

He should have said, I own an LBO firm. This is what we do, and we do it in order to make money for our shareholders. If labor is more efficient in other countries, then we move the labor to other countries. This is the free market, unbridled Capitalism at its finest and I am an example of it working as designed. Regulations curb my ability to maximize profits, and therefore I am against them. The IRS lays out what taxes we have to pay, and we abide by that, but not a dollar more."

(To his credit, he did say the last one)

Instead, he hit the campaign trail as a "self made man" who "picked himself up by his bootstraps" and "created jobs". He rails about "free stuff" while taking larger annual government handouts in his tax havens and loopholes than most families would see in generations of honest work. The last thing he wants is for We The Help to peek behind the curtain.

How in hades he never thought that would come back to haunt him is beyond me. He had to know that even the people who worship his wealth (and those of us who don't begrudge him his worth) would be sickened by how he came into that wealth in the first place.

Like Jon Stewart said last night - no one gives a shit how much money he has. People care about what kind of steward he is being with what has been 'entrusted' to him.

So, party on, Willard.

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