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DiabloViejo
07-04-2012, 01:04 PM
Assets offshore raise Romney wealth questions
Invisible money » The lack of disclosure makes it hard to see how he handles the finances.
By STEPHEN BRAUN | The Associated Press
The Salt Lake Tribune (http://www.sltrib.com/sltrib/world/54431051-68/romney-sankaty-tax-bain.html.csp)

Washington • For nearly 15 years, Republican presidential candidate Mitt Romney’s financial portfolio has included an offshore company that remained invisible to voters as his political star rose.

Based in Bermuda, Sankaty High Yield Asset Investors Ltd. was not listed on any of Romney’s state or federal financial reports. The company is among several Romney holdings that have not been fully disclosed, including one that recently posted a $1.9 million earning — suggesting he could be wealthier than the nearly $250 million estimated by his campaign.

The omissions were permitted by state and federal authorities overseeing Romney’s ethics filings, and he has never been cited for failing to disclose information about his money. But Romney’s limited disclosures deprive the public of an accurate depiction of his wealth and a clear understanding of how his assets are handled and taxed, according to experts in private equity, tax and campaign finance law.

Read the rest here: The Salt Lake Tribune (http://www.sltrib.com/sltrib/world/54431051-68/romney-sankaty-tax-bain.html.csp)

eg8r
07-04-2012, 08:42 PM
Good for him.

eg8r

Qtec
07-05-2012, 12:08 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: eg8r</div><div class="ubbcode-body">Good for him.

eg8r </div></div>

As usual, you don't get it. This is not about Willard being rich, although you seem to worship him for it.

Its about transparency and ethics.

Q

eg8r
07-05-2012, 05:33 AM
Why is transparency an issue with you when you did not care about it for the past 3 years?

eg8r

Gayle in MD
07-05-2012, 06:54 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: eg8r</div><div class="ubbcode-body">Good for him.

eg8r </div></div>
Do you think these kinds of stealth tax evasions, which is really what they are, are good for our country? Aren't revenues just as important to our recovery, as axing the very public protections we all rely upon to keep our safe?

Do you think that Europe's severe austerity policies, have held them back in recovering?

As I'm sure you'll recall, I have been pushing for America to focus on American Made products for many, many years.

Do you think there is anything we should do to promote less outsourcing, and more American industry? How can we as a country, admire those whose efforts go against what is best for all Americans, not just for their investors, but for their own hidden wealth, off shore, safe from contributing to our own revenues? That practice has been a major link to all of our jobs losses, and economic problems.

In my personal opinion, Romney personifies everything that contributed to pushing Americans out of their jobs, and the country down into the ditch.

What is he hiding? It's becoming more and more obvious, that he refuses to tell the truth about his finances. What do yu think is up with that? And, should we correct those loopholes which allow Americans to get rich by outsourcing our jobs, and hiding their profits offshore?

G.

Soflasnapper
07-05-2012, 10:34 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: eg8r</div><div class="ubbcode-body">Why is transparency an issue with you when you did not care about it for the past 3 years?

eg8r </div></div>

If Romney holds huge undisclosed money, perhaps as a trustee of the planet Kolob, we should know that before the election.

Obama's promise to have the most transparent presidency/administration ever doesn't even have to be 100% transparent to be the MOST transparent to date.

And as to his finances, he has been transparent, many more years released for his tax returns than Mitt so far.

eg8r
07-05-2012, 11:28 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Do you think these kinds of stealth tax evasions, which is really what they are, are good for our country? </div></div>I don't think they are any worse than the tax that forced them.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">In my personal opinion, Romney personifies everything that contributed to pushing Americans out of their jobs, and the country down into the ditch. </div></div>I think the federal government has played a bigger part in that.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">What is he hiding? It's becoming more and more obvious, that he refuses to tell the truth about his finances. What do yu think is up with that? And, should we correct those loopholes which allow Americans to get rich by outsourcing our jobs, and hiding their profits offshore?</div></div>I have said more than once that I think simplifying the tax code would fix a lot of these problems and I have never been against it. If you want to get at their money new taxes is not the way to go because it just forces their hands to continuing sending their money offshore. Change the tax code so that this is not allowed is the way I have suggested many times.

eg8r

eg8r
07-05-2012, 11:29 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">If Romney holds huge undisclosed money, perhaps as a trustee of the planet Kolob, we should know that before the election.</div></div>Perhaps not. It won't change anything.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Obama's promise to have the most transparent presidency/administration ever doesn't even have to be 100% transparent to be the MOST transparent to date.</div></div>However more than 0% would have done some good.

eg8r

Gayle in MD
07-05-2012, 11:50 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: eg8r</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Do you think these kinds of stealth tax evasions, which is really what they are, are good for our country? </div></div>I don't think they are any worse than the tax that forced them.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">In my personal opinion, Romney personifies everything that contributed to pushing Americans out of their jobs, and the country down into the ditch. </div></div>I think the federal government has played a bigger part in that.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">What is he hiding? It's becoming more and more obvious, that he refuses to tell the truth about his finances. What do yu think is up with that? And, should we correct those loopholes which allow Americans to get rich by outsourcing our jobs, and hiding their profits offshore?</div></div>I have said more than once that I think simplifying the tax code would fix a lot of these problems and I have never been against it. If you want to get at their money new taxes is not the way to go because it just forces their hands to continuing sending their money offshore. Change the tax code so that this is not allowed is the way I have suggested many times.

eg8r </div></div>



<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> Change the tax code so that this is not allowed is the way I have suggested many times.

</div></div>

With this much, I agree, but that won't happen unless Republicans lose their majority. They will line up and vote against it to protect the special interests, the wealthy CEO's just like Mitsey.

G.

Soflasnapper
07-05-2012, 04:58 PM
The 'complexity' of the tax code is all about paying less.

Anyone can use the 1040EZ form and have the two-pager they cry about. They don't, because they want the lower taxes that can be gained from the tax code's 'complexity.' And so they have to file the long form, and the separate schedules.

No tax breaks, no complexity. Bottom line.

eg8r
07-06-2012, 07:16 AM
I agree.

eg8r

llotter
07-06-2012, 09:44 AM
This issue passed the ethics oversight so it just looks likes another in a long list of groundless accusation to 'kill' Romney under a torrent of lies and innuendo.

Soflasnapper
07-06-2012, 10:01 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: llotter</div><div class="ubbcode-body">This issue passed the ethics oversight so it just looks likes another in a long list of groundless accusation to 'kill' Romney under a torrent of lies and innuendo. </div></div>

The OMISSION passed by the ethics groups at the time, and there is now a statute of limitations in effect.

Per the Salt Lake Tribune report:

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> Sankaty is the only offshore holding in the Romneys’ portfolio under their full control. On his 2010 taxes, Romney’s blind trust filed an IRS form identifying Sankaty as a "controlled foreign corporation." That filing is required for any U.S. taxpayer who owns more than 50 percent of a foreign company. Romney’s 2010 tax returns indicate that he and his wife control all 12,000 shares.

Several U.S. Securities and Exchange documents from the late 1990s and 2000s depicted Romney as Sankaty’s owner at the time, but when he ran for Massachusetts governor in 2001 and 2002, Romney did not list the company on annual disclosure forms required by the Massachusetts State Ethics Commission.

The ethics commission would not comment on the omissions. Boston College law professor R. Michael Cassidy, who was a member of the commission at the time, said that <span style='font-size: 14pt'>if Romney "owned this business before he signed his ethics disclosure, then he was obliged to report it." The state’s disclosure rules also allow a $1,000 minimum threshold. A six-year statute of limitations covering Romney’s ethics reports has since expired.</span></div></div>

So, according to the prior member of the commission, it SHOULD have been reported, was NOT reported, and they no longer have jurisdiction because of the expiration of the statute of limitations having now transpired.

Meaning?

That it's impossible to know if Romney's claims are true or false.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Romney has said he gets no tax break. He told an audience at a Maine town hall appearance in February that "I have not saved one dollar by having an investment somewhere outside this country."

But the lack of disclosure over the years, private equity experts said, makes it impossible to tell.

"Without knowing more about an offshore’s history and how it was used," Fleischer said, "you’re left in the dark."
</div></div>

Gayle in MD
07-06-2012, 10:41 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: llotter</div><div class="ubbcode-body">This issue passed the ethics oversight so it just looks likes another in a long list of groundless accusation to 'kill' Romney under a torrent of lies and innuendo. </div></div>

LMAO! So I see you've already jumped on the 'Kill' Romney band wagon. Pretty hilarious, that wife of his. She's such an incredible liar, deceitful as they come.

They have both been bashing and slandering this president for years, and now they're whining and trying to say HE is trying to 'kill' ROMNEY!

A total crock of Bull.

But, that wouldn't stop any RW nutjob from jumping right on that ridiculous band wagon, one bit!

Nobody has to 'kill' Mitsey. He's doing a grand job of doing that himself, as even Rupert Murdoch, and William Kristol, are saying.

Not to mention a number of other so called "Conservatives" or should I say, tax, spend, borrow, grow the size of government, initiate huge corporate giveaway drug entitlements and un-necessary wars, ignore all warnings of serious devastating coming foreign attacks, and natural disasters, and warnings of a corrupted and crashing economy, and then blame everyone but themselves, so called conservatives.....Yeah, those kinds of conservatives, the only kind that exist.

Romney is a bad joke, and the righties are the stooges with egg all over their faces.

Hey Mitsey, I'm enjoying watching this funeral march all your own, that you sent your momma out there to lie about, but we're not so stupid that we don't realize that she can't be married to a man who lies his a$$ off, and proves himself to be nothing but a greedy, lying crook and a pig, and not know about it, herself. Heck, she's as big a liar as you are, and that's the only thing she proved with her latest BS victim lies.

Ha ha ha...nope, the widdle woman's "....he's trying to 'kill' my mitsey" won't fly.

It's funny, I heard some damn good prespective on all of this tonight from Harvey Weinstein, on Rachael's show,....Harvey is no slouch when it comes to advertising, marketing, and having a feel for what's going to appeal to the American Public.

He's laughing about all of the millions upon millions that the big pig crooks of the world are spending trying to sell Romney to the American public. He compared it to the massive, wasted fortune in advertising that was spent trying to sell Americans the Edsel, but we didn't go for that lemmon, either. It was oversell, and the public figured it out real fast, just like they've got you figured out, and all the multi millions that crooked billionaires are spending to have their way with you, Mitsey. It's all too obvious, just like the Edsel.

http://www.msnbc.msn.com/id/26315908/vp/48101871#48101871

How many times does America have to tell ya Mitsey in the Magic Panties, we don't like you and we don't want you in the White House.

You just won't take no for an answer, no matter how many times we smack you down and send you home. You just cannot believe that you can't buy our White House, no matter how much you prove to your without conscience, screwed up, without values, RWers how smart rich you are because you were such a big huge crook! But hey, Mitsey, we don't all admire crooks, in America, or as you call it, Amercia and it's <span style='font-size: 11pt'>NOT</span> your turn, you dorkie dummie, and it never will be your turn.

There is no special sale going on, here, and you're not the early shopper with the coupons. There are no more pigs allowed in this W.H. Oval Office. We haven't even cleaned out all of the pig **** from Bush and Cheney, yet!

No Mitt, you're not going to live in the White House. No matter how many times that opportunistic, money grubbing woman of yours, pulls that string on your back, and goo goos into your face and the two of you tell us "It's our turn," we still don't like either one of you, or your car elevators and personal water craft.


Hey, we're not impressed!

Now go home and shut up! You're both liars and crooks, and everyone knows it. We're still all about surviving Bush and Cheney, remember? It's too soon for another bunch of lying crooks to be running the country. We're not THAT dumb! Take a look at Fred Thompson, the last post Bush RW "star" of your party, he's still peddling mortgages! /forums/images/%%GRAEMLIN_URL%%/grin.gif

Nope, The memory of those two lying crooks, and their corrupt cabal, hasn't begun to fade out yet, so just go home, and shut up Mitsey! Put on your magic panties, and go home!

Oh, and when you get there, try to practice not walking like a Valley Girl. /forums/images/%%GRAEMLIN_URL%%/laugh.gif

G.