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Tuesday, September 11, 2012

2012 Following the Money

Posted by Paul Constant on Tue, Sep 11, 2012 at 10:52 AM

Sheldon Adelson propped up Newt Gingrich's vanity campaign earlier this year, and now he's big into the Mitt Romney business. Is he doing this because he loves America and wants what's best for it? If by "America," you mean "Sheldon Adelson's wallet," the answer is yes:

Adelson has vowed to spend as much as $100 million to help sway the 2012 election. According to a new report by Seth Hanlon, the director of fiscal reform at the Center for American Progress Action Fund, Adelson could turn that investment into a $2 billion tax cut if Romney is elected.

If Romney wins and Adelson gets his tax cuts, that's great news for China. Adelson is investing heavily over there. You know, creating jobs and such.

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Comments (4) RSS

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Nothing new there.
Bain lobbied for tax changes in the past.
If Romney ever releases his tax history it will be revealing to see what effect those Bain lobbied tax changes had upon Romney's taxes.

But why worry about taxes?
They only go towards infrastructure and schools and such.

Posted by fairly.unbalanced on September 11, 2012 at 11:38 AM

You'd think if these guys were the financial masterminds they were, they wouldn't be bowing to spend up to $100,000,000 to sway an election which they will still ultimately lose.

Posted by fetish on September 11, 2012 at 5:36 PM

@2 It's 100 mil of influence on the R's whether or not they win the white house this year... ...He'll get his investment back, sooner or later, one way or another.

Or, who's to say he'a not just paying them back for the govt handouts (uhm, tax breaks) he has *already* enjoyed.

Posted by NotSean on September 11, 2012 at 8:48 PM

If Adelson's investment is a winner, that's a twentyfold return. Intrade currently shows it with about a 1/3 chance of paying off. That's an expected value of 6.66 times the investment. Pretty attractive if you can afford the risk.

Posted by I have always been... east coaster on September 13, 2012 at 2:56 PM