Comments on: Romney’s gift from Congress http://blogs.reuters.com/david-cay-johnston/2012/01/31/romneys-gift-from-congress/ Sat, 23 Mar 2013 13:49:31 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Dave010304 http://blogs.reuters.com/david-cay-johnston/2012/01/31/romneys-gift-from-congress/#comment-1291 Mon, 16 Apr 2012 19:32:19 +0000 http://blogs.reuters.com/david-cay-johnston/?p=279#comment-1291 Unfortunately, Mitt is never satisfied. In his promise to eliminate the estate tax (death tax), if he is successful, he will save the Romney family an additional $100 million or more upon his death, and his rich friends billions. Greed, pure and simple.

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By: drandVN http://blogs.reuters.com/david-cay-johnston/2012/01/31/romneys-gift-from-congress/#comment-1074 Sat, 04 Feb 2012 18:42:19 +0000 http://blogs.reuters.com/david-cay-johnston/?p=279#comment-1074 This is a perfect example of how special interests (read the wealthy) over the years have corrupted the tax code to their favor. The tax code has been used to give breaks to business startups, innovation, research, promote social behavior, and progressively provide an income to a government that provides service to all citizens that private industry can’t or won’t. What is disturbing is to find those people who benefited the most don’t want to help their fellow citizens survive and maintain some dignity and don’t want to support the government that gave them the opportunity. For every person who received a dollar he/she didn’t earn, there is a person who earned a dollar he/she didn’t get.

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By: jaham http://blogs.reuters.com/david-cay-johnston/2012/01/31/romneys-gift-from-congress/#comment-1071 Fri, 03 Feb 2012 15:56:28 +0000 http://blogs.reuters.com/david-cay-johnston/?p=279#comment-1071 @borisjimbo…yes we need to break up these dynasties, tax them and redistribute their welath to the poor, uneducated and unemployed…

…Amass a fortune only to be taxed because you are too rich; you know, I don’t recall that being the ending to the American dream – according to Dems, I am mistaken.

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By: jaham http://blogs.reuters.com/david-cay-johnston/2012/01/31/romneys-gift-from-congress/#comment-1070 Fri, 03 Feb 2012 15:53:00 +0000 http://blogs.reuters.com/david-cay-johnston/?p=279#comment-1070 @breezinthru “Apparently, the candidate is deeply concerned about what is legal but not regarding what is morally correct.

Romney gives more to the Mormon church each year than he spends paying taxes”

And that is somehow immoral? lol

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By: jdavid1 http://blogs.reuters.com/david-cay-johnston/2012/01/31/romneys-gift-from-congress/#comment-1069 Fri, 03 Feb 2012 03:46:52 +0000 http://blogs.reuters.com/david-cay-johnston/?p=279#comment-1069 Maybe the solution is to elect Romney. He will revert to the financial policies of Bush 43 that got us into this mess and will enahance the tax breaks for the rich. Tax breaks for the rich have proven not to be job creators. By the end of his first term we will probably be in a depression, at which time a Roosevelt type Democrat could be elected along with a filibuster proof Democrat Congress. Hopefully, they will realize that big business support will be counter productive and the whole mess will be straightened out. Or am I dreaming?

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By: BellaK http://blogs.reuters.com/david-cay-johnston/2012/01/31/romneys-gift-from-congress/#comment-1068 Fri, 03 Feb 2012 01:35:10 +0000 http://blogs.reuters.com/david-cay-johnston/?p=279#comment-1068 Our commercial media do a poor job of explaining policy, preferring to focus on the excitement of political clashes. Mr. Johnston does his usual excellent job but explanations such as his do not reach a wide enough audience. Perhaps he can nudge 60 Minutes into pursuing the story. Note too that Mr. Romney advocates cutting his own taxes while “broadening” the tax base (i.e., raising federal taxes on those earning below the median).

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By: bstnboy54 http://blogs.reuters.com/david-cay-johnston/2012/01/31/romneys-gift-from-congress/#comment-1067 Thu, 02 Feb 2012 23:58:05 +0000 http://blogs.reuters.com/david-cay-johnston/?p=279#comment-1067 in Mittens stump speech he rails against the “entitlement society” yet he and his like get all the entitlement in the world. the system is rigged for the wealthy, by the wealthy and if not for this election, a lot of people would have not known about any of this.

if Mittens and his bunch paid their fair of taxes there would be enough money to pay for infrastructure improvement and other programs and put people back to work.

besides the tax avoidance, it’s all a scam to make people believe that they are watching out for the 99% and that everything negative is the Democrats fault.

unfortunately there are too many people that take Fox as fact and they have no clue what the Republicans continue to do to them The Republicans think as long as they can get in others face and yell over them then they win.

Elections have consequences.

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By: ShastaKath2 http://blogs.reuters.com/david-cay-johnston/2012/01/31/romneys-gift-from-congress/#comment-1066 Thu, 02 Feb 2012 21:51:12 +0000 http://blogs.reuters.com/david-cay-johnston/?p=279#comment-1066 Thank you, Mr. Johnson, for tackling this job! There’s an angle on donations to LDS that bears scrutiny, too: MR donated some stock, +/- 90,000 shares, valued as a donation at $2.9 mil, in Feb, 2011 to LDS. LDS held the shares 4-5 months, then sold them for cash. A month or two after that, the company filed Chapter 13. Here are points to note: 1) MR obtained the shares while at Bain for about 50 cents/share (in exchange for management-work,) so he got $2.9 mil write-off contribution credit for shares he acquired for work valued @ +/- $45,000.; 2) MR was “hands off” the company when it crashed for about 6 months — the 6 months LDS had the shares; 3)LDS got the $2.9 mil, MR got the tax-credit, but the company & its creditors, employees & community location lost everything that company had meant. 4)LDS has no structure beyond its lay-leadership, of which MR is an integral part; 5) Is/Was Bain, at least in part, a “front” for funneling assets & resources to LDS members, families and community/church? Bears checking out!

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By: joepomp http://blogs.reuters.com/david-cay-johnston/2012/01/31/romneys-gift-from-congress/#comment-1064 Thu, 02 Feb 2012 16:33:25 +0000 http://blogs.reuters.com/david-cay-johnston/?p=279#comment-1064 two questions If this is a carried interest. Should it not have appeared on his financial statement before it was transferred to his son’s trust ( also his own carried interest). Even if he valued it as zero his future earnings would be tied to the future value of Bain. Therefore, he has a vested interest in Bain Capital and any action taken by them influences his potential income. He should at least have divested himself completely from this company by selling all his future carried interest.

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By: GrandpaBob http://blogs.reuters.com/david-cay-johnston/2012/01/31/romneys-gift-from-congress/#comment-1063 Thu, 02 Feb 2012 15:08:30 +0000 http://blogs.reuters.com/david-cay-johnston/?p=279#comment-1063 The tax laws are written to protect the interests of the rich. This certainly will not change if we continue to elect very wealthy people like Romney, Bloomberg, etc., to high office.
I recall many years ago, when Nelson Rockefeller was interested in becoming Governor of NY State, I was asked to sign a petition to place him on the ballot. The argument to try to convince me to sign was “he is so rich, he wouldn’t steal.” Well to quote a famous ballad(Pretty Boy Floyd), “some rob you with a six-gun, and some with a fountain pen.”
And as David Cay Johnston points out, it is all legal!

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