no wonder Mitt won't release his tax returns

[cheeno]

I guess I'm the only one who is bothered by the fact that some of my fellow citizens can use their wealth to buy tax shelters, hide their wealth from U.S. tax authorities (or their reach), and put a greater tax burden on the rest of us.

Others have no problem with this, in some sort of twisted, reverse-Robin-Hood way of thinking...

"YEAH, YOU GO MITT!!! STICK IT TO THE MAN!!!! DON'T PAY YOUR SHARE OF TAXES! DON'T WORRY, I'LL PAY MINE."

That was my point. Yes it is legal through tax loopholes created from other loopholes from other loopholes. My 'Beef' as ol' Smaysh put it is that I think it shouldn't be. But then again according to him no one has a share, so out the window that goes.

 

[Thumb]

Funny how right-wingers complain about the burden Dems put on the American people "for generations to come" as they like to say, yet jump right up to defend someone wealthy for attempting to pay as little as possible, using the excuse "it's all legal".


Really! what's our Beef?!!!!

 

[byco42]

I guess I'm the only one who is bothered by the fact that some of my fellow citizens can use their wealth to buy tax shelters, hide their wealth from U.S. tax authorities (or their reach), and put a greater tax burden on the rest of us.

Others have no problem with this, in some sort of twisted, reverse-Robin-Hood way of thinking...

"YEAH, YOU GO MITT!!! STICK IT TO THE MAN!!!! DON'T PAY YOUR SHARE OF TAXES! DON'T WORRY, I'LL PAY MINE."

If everyone's fair share were zero, as it should be, this discussion would never happen.

 

[byco42]

Funny how right-wingers complain about the burden Dems put on the American people "for generations to come" as they like to say, yet jump right up to defend someone wealthy for attempting to pay as little as possible, using the excuse "it's all legal".


Really! what's our Beef?!!!!

You are not talking about me, because I do not ascribe to any label. Except for that I'm not a statist.

 

[Thumb]

Funny how right-wingers complain about the burden Dems put on the American people "for generations to come" as they like to say, yet jump right up to defend someone wealthy for attempting to pay as little as possible, using the excuse "it's all legal".


Really! what's our Beef?!!!!

You are not talking about me, because I do not ascribe to any label. Except for that I'm not a statist.

Did I say I was talking about you?

Did I quote your post?

Then relax, unless you have a guilty conscience.

 

[byco42]

You are not talking about me, because I do not ascribe to any label. Except for that I'm not a statist.

Did I say I was talking about you?

Did I quote your post?

Then relax, unless you have a guilty conscience.

It's the "what's our Beef" riff of mine that made me think you were referring to me. But that must have been coincidental.

 

[Thumb]

I wasn't naming you specifically, but rather anyone who uses the argument "it's legal" to defend a situation like that, while we're all going to hell in a handbasket (economically/fiscally), and then complain about the sorry state we're in.

So while I was not singling you out, I was including you en masse.

 

[KAWDUP]

and you're wrong about LBO shops leaving the companies they buy in better shape. maybe in some cases, but in the vast majority of them, they're taking a lot more out of them than they leave them with. that's why they (Romney) went into the business...

I'm wrong am I? I happen to know about a number of them in the business. They make excellent money, that is why those LOB shops do it. If there wasn't money to be made (lots of it), they would never get involved.

. . . but you are going to have provide more than layoff numbers to prove to me that the wealth was sucked out of most of these companies. I believe I have some first hand knowledge in this realm. I will see if I can find you some examples when I get the chance.

You can start by looking at Companies that Bain interacted with, and tell me how many of those went bankrupt? You can find the names of some of them even in most Wiki's on the subject.

I won't hold my breath.

 

[johnny2x2x]

Mitt will have no choice but to release his tax returns and soon. He literally got booed and heckled by Republicans last night for the answer he gave. My guess is he'll release selected years that don't look so bad, but that will just make the problem worse.

At this moment in America, it's hard to believe that a guy like Mitt Romney has been selected by the Republican leadership to be their candidate. Mitt is the poster boy for the wealth and excess of today's corporate aristocracy.

His time at Bain will be examined thoroughly, no doubt Bain helped some companies and did some good, but people don't want to hear about that, they want a company that did the right thing all the time not most of the time. From what we've heard there are without a doubt some deals that Bain was involved in that they handled themselves like vulture capitalists. People aren't going to want to hear about a company they helped, that's what they are supposed to try to do 100% of the time.

 

[KAWDUP]

At this moment in America, it's hard to believe that a guy like Mitt Romney has been selected by the Republican leadership to be their candidate. Mitt is the poster boy for the wealth and excess of today's corporate aristocracy.

Not sure why you say this. A rather sizable portion of the Republican leadership have not endorsed anyone yet. You are just assuming that because he is currently in the lead.

BTW I would like to think that to a free and capitalist society, a "poster boy for wealth and excess" would be exactly who you would look to for economic advice. Maybe that's just me.

. . . aren't you striving for more wealth such that you may have more excess than you do?

None of the entitlements are going away, no matter what you have heard from the liberal media. They haven't ended one of those in a very very long time through all of the conservative Congresses and Administrations of the past. It isn't going to happen now either. Could be restructured, could go down or up in the money put into the programs, but they won't disappear. Call me when they ever do more than that, and I'll come over to the dark side. I don't include national health care yet since it hasn't fully taken affect yet. If the Republicans get control they will end/defund that one, but all the other ones are here to stay. No need to quote all the pundits who think they are going after this one or that one, I have read about them a ton. When it happens, be sure to come back and tell me.

BTW, does anyone think Social Security is really an entitlement? It is your money, you put it there, why should the government have anything more to do with it then administer the program? Why can it be borrowed from to pay anything else?

Have you heard that certain liberal minded individuals are looking to treat everyone's 401K just like Social Security with government running the whole show? Do you think that is desirable?

. . . just more rambling on a Friday morning.

 

[lions2011]

C'mon Kawdup....Romney will be the nominee...it is an absolute guarantee.

 

[KAWDUP]

If it were really a guarantee, I would be a mulit-millionaire. Nice to see you can predict the future with such certainty. I'll just say he is the most likely candidate, as he really has been since the beginning of the campaign.

 

[lions2011]

If it were really a guarantee, I would be a mulit-millionaire. Nice to see you can predict the future with such certainty. I'll just say he is the most likely candidate, as he really has been since the beginning of the campaign.

anyone else but mittens i will eat my shoes

 

[grandy]

http://fivethirtyeight.blogs.nytimes.com/2012/01/06/romney-leads-south-carolina-polls/

Gingrich and Romney are close in SC
Romney looks to be a clear favorite for Florida

Hard to see how Romney doesn't win

 

[grandy]

Romney is also polling fairly high in Nevada

http://www.politico.com/2012-election/nevada/

 

[lions2011]

people above our pay grade know Mittens will be the nominee.

Obama's camp has only gone after Mitt , they could careless about Noot and the other 2 stooges.

 

[grandy]

people above our pay grade know Mittens will be the nominee.

Obama's camp has only gone after Mitt , they could careless about Noot and the other 2 stooges.

Gingrich dug his own grave with the recent news, I'd be shocked if he stayed in much longer

I could never see Paul being "the guy" for the Republicans, just doesn't seem to fit that role and he doesn't have enough support yet

Santorum may have won Iowa, but the next few primaries don't look promising for him, if he stays in he won't have the momentum that Romney will

Roemer is still in the race for some reason, even though my dog probably has more votes than him at this point

 

[johnny2x2x]

people above our pay grade know Mittens will be the nominee.

Obama's camp has only gone after Mitt , they could careless about Noot and the other 2 stooges.

Gingrich dug his own grave with the recent news, I'd be shocked if he stayed in much longer

I could never see Paul being "the guy" for the Republicans, just doesn't seem to fit that role and he doesn't have enough support yet

Santorum may have won Iowa, but the next few primaries don't look promising for him, if he stays in he won't have the momentum that Romney will

Roemer is still in the race for some reason, even though my dog probably has more votes than him at this point

Newt is surging, he trounced Romney pretty good in the debates and is leading in most of the South Carolina polls at the moment. I think his ex wife attacking him actually helped him among the GOP voters, he portrayed it as some type of organized attack by the "Liberal" media. No Newt, it was an attack by your 2nd ex wife.

I've heard the Republican Primaries could see well over $100 Million spent if it drags out much longer. I would bet that that's more than most Presidential general election up to the 90s maybe.

 

[KAWDUP]

[quote author=lions2011 board=talkpolitics thread=4949 post=116846 time=1327080879]people above our pay grade know Mittens will be the nominee.

Gingrich dug his own grave with the recent news, I'd be shocked if he stayed in much longer

There is a very good chance that this is not true at all. I have already presented the evidence why.

We'll talk again when the actual grave is dug and then we can discuss what the actual reasons were, but I can tell you this much - this won't be one of the "biggies".

 

[mhughes0021]

Imagine someone wanting to keep his or her money rather than have the government take it away. We are doomed more by government intervention than by an individual's desire to reduce his or her tax liability.

...

aside from his inheritance, most of Romney's $$$ came from running Bain Capital's LBOs (Leveraged Buy-outs). there is an article out studying just how many of their acquisitions were made & assisted by government subsidies. E.g. Bain buys up XYZ Tools, Romney uses his connections to get them tax breaks, subsidies, grants, etc. from the state/local gov't to "create jobs" making them more profitable.

but instead of creating jobs... they "loan" Bain a huge chunk of money from XYZ Tools, or pay themselves 100% dividends from the profits, layoff a bunch of workers, and then either merge XYZ Tools with another company, or spin it off, having sucked all the wealth out of it.

AND THEN... they move those profits, despite being entirely earned in the US, and often with government assistance, offshore to avoid paying US income tax on them.

And this is okay... because that mean old government would be "unfairly" trying to take their hard-earned dollars...

Im on your side on this. With Mittens history in mind im shocked hes even in contention. The economy the way it is and his main job was to put people out of jobs and then give those jobs to people oversees....dude should be enemey #1. Seriously at this point people should be shot for doing that. Newt is using this every chance he can get to push himself back up in the polls.