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News & ArtsFriday, January 20, 2012
2012 The Two Faces of Mitt Romney
Posted by Paul Constant on Fri, Jan 20, 2012 at 2:38 PM
1. Here's an effective DNC ad about Romney's tax returns:
Romney's people keep saying that average voters don't care about tax returns, but I'm not convinced that's true this year. And the fact that his Cayman Islands offshore accounts—new reports say he may have "up to $32 million" in them—keep popping up is a bad sign, too.
2. Here's a passage from Michael Kranish and Scott Kalman's The Real Romney. When I read it last night, I had to go back and read this paragraph over three times before I was sure it said what it actually said:
- Click to enlarge.
I would pay good money to see video of this.
7
I think the best line from the whole campaign is on this issue:
The funds are taxed in the Cayman Islands at the same rate as in Massachusetts? Yeah, right. So why do you suppose Bain Capital bases those funds in the Cayman Islands? Bikini Boot Camp for Hedge Funds?
A spokesperson for the Romney campaign says Romney follows all tax laws and he would pay the same in taxes regardless of where the funds are based.
The funds are taxed in the Cayman Islands at the same rate as in Massachusetts? Yeah, right. So why do you suppose Bain Capital bases those funds in the Cayman Islands? Bikini Boot Camp for Hedge Funds?
9
No moonwalking Mitt - don't want anything to humanize him or to suggest he can be playful and fit in with "different people". This guy scares me, so let's not make it any easier for him!
13
I want to be like Mitt, who has never done an honest day’s work in his life!
I want to be like Mitt, who would convince his cronies to invest 10% (or even 5% to 6%) in a fund, and then borrow the remaining 90% from the banks, using the targeted company in the leveraged buyout as collateral -- that means transferring the 90% debt to the target company. (I’m going to buy a car, what’s your collateral, the bank asks me, the car I’m buying, I reply, try the bank next store, they reply.)
I want to be like Mitt, and receive free millions from the banks (after the LBO or leveraged buyout, they would borrow more millions from the banks against the targeted company – known as dividend recaps -- thus paying themselves a fortune while adding even more debt onto the target company).
[The proper term for this is debt financing or deficit financing, creating unbelievably burdensome debt on the takeover company to enrich themselves. Romney’s vast wealth, and that of other private banks and hedge funds, is directly responsible for the increase of the national debt.]
I want to be like Mitt, who avoided military service during the draft.
I want to be like Mitt, free money for no work and super-rich!
(Where’s the risk? There is no risk as the laws they bribed congress to pass, back in the ‘70s and ‘80s, ensured that!)
Be Like Mitt
I want to be like Mitt, who has never done an honest day’s work in his life!
I want to be like Mitt, who would convince his cronies to invest 10% (or even 5% to 6%) in a fund, and then borrow the remaining 90% from the banks, using the targeted company in the leveraged buyout as collateral -- that means transferring the 90% debt to the target company. (I’m going to buy a car, what’s your collateral, the bank asks me, the car I’m buying, I reply, try the bank next store, they reply.)
I want to be like Mitt, and receive free millions from the banks (after the LBO or leveraged buyout, they would borrow more millions from the banks against the targeted company – known as dividend recaps -- thus paying themselves a fortune while adding even more debt onto the target company).
[The proper term for this is debt financing or deficit financing, creating unbelievably burdensome debt on the takeover company to enrich themselves. Romney’s vast wealth, and that of other private banks and hedge funds, is directly responsible for the increase of the national debt.]
I want to be like Mitt, who avoided military service during the draft.
I want to be like Mitt, free money for no work and super-rich!
(Where’s the risk? There is no risk as the laws they bribed congress to pass, back in the ‘70s and ‘80s, ensured that!)
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