Speakeasy forum

General discussion

Mitt Romney's Financial Black Hole

by Josh K / July 11, 2012 4:01 AM PDT
http://www.nytimes.com/2012/07/11/opinion/mitt-romneys-financial-black-hole.html?smid=fb-share

Paying taxes forthrightly has long been a matter of civic pride for most American politicians, a demonstration of honesty and of a willingness to share in society's burdens. Since the Watergate era, presidential candidates have released several years of tax returns, allowing voters to peer at their financial choices and discern their entanglements.

Mitt Romney has upended that tradition this year. He has released only one complete tax return, for 2010, along with an unfinished estimate of his 2011 taxes. What information he did release provides a fuzzy glimpse at a concerted effort to park much of his wealth in overseas tax shelters, suggesting a widespread pattern of tax avoidance unlike that of any previous candidate.

Mr. Romney has resisted all demands for more disclosure, leading to growing criticism from Democrats that he is trying to hide his fortune and his tax schemes from the public. Given the troubling suspicions about his finances, he needs to release many more returns and quickly open his books to full scrutiny.


Yes, it's a New York Times Editorial. If you find the Times objectionable, don't read it.
Discussion is locked
You are posting a reply to: Mitt Romney's Financial Black Hole
The posting of advertisements, profanity, or personal attacks is prohibited. Please refer to our CNET Forums policies for details. All submitted content is subject to our Terms of Use.
Track this discussion and email me when there are updates

If you're asking for technical help, please be sure to include all your system info, including operating system, model number, and any other specifics related to the problem. Also please exercise your best judgment when posting in the forums--revealing personal information such as your e-mail address, telephone number, and address is not recommended.

You are reporting the following post: Mitt Romney's Financial Black Hole
This post has been flagged and will be reviewed by our staff. Thank you for helping us maintain CNET's great community.
Sorry, there was a problem flagging this post. Please try again now or at a later time.
If you believe this post is offensive or violates the CNET Forums' Usage policies, you can report it below (this will not automatically remove the post). Once reported, our moderators will be notified and the post will be reviewed.
Collapse -
According to
by TONI H / July 11, 2012 4:53 AM PDT

Romney's spokesperson, he has paid all taxes on all income from even offshore accounts.

Speaking of records not released...........The left screamed for all college and military records of Bush and now screaming for Romney's tax records, but total silence regarding BO's history including college transcripts since he entered the race in 2007. When will the liberal media actually vet this particular president and his 'most transparent' promises? None of the liberal media has ever vetted him regarding his past associations, either. As for the DNC chair, what's her name....she was on Fox on Sunday demanding those tax returns from Romney but has never produced any of her own, and I believe that is a requirement for her position. BO's own Treasury head, Geithner is a tax cheat....anybody in the liberal news media bothering to mention how he's able to head that agency and owe the IRS money? What about all the Federal employees that owe millions including thousands of US postal employees, collectively, that the IRS isn't bothering to collect from? What about BO's labor head, GE's Immelt, and not paying anything in taxes? Let's get HIS tax returns released to see where HIS money is all docked at? What about the three appointees to the NLRB that BO stuck in there during a NON-recessed Senate and the new head of the NLRB who was actually an attorney representing the Union? How about Eric Holder...he's real good at lying so maybe he's good at evading taxes, too?

Let's get 'fair and blanced' news reporting and investigative effort. It can't always be one sided. I think it would be a good idea for ANY government position or appointment to be required to show the last five years' worth of returns before they can be hired or appointed.

Collapse -
One sentence of response....
by Josh K / July 11, 2012 5:00 AM PDT
In reply to: According to

.....and two paragraphs of unrelated ranting about "BO."

Yes, Romney paid the taxes due on those accounts. That isn't the point and you know it.

Collapse -
What is the point, Josh?
by TONI H / July 11, 2012 5:49 AM PDT

There is no law that says any Presidential candidate has to produce anything more than one year's worth of taxes....he's done that. His father, BTW, was the one who produced upwards of ten or more returns and did that voluntarily. That doesn't mean that every candidate since then has to produce more than the one.

Collapse -
The point, Toni....
by Josh K / July 11, 2012 11:28 PM PDT

.....is the lengths he's gone to in order to avoid paying the same taxes that you and I pay. Tax shelters, Swiss bank accounts, blind trusts put in other people's names to shift the tax burden, do you have any of those things? I'm surprised he hasn't renounced his citizenship like some others have done recently, in order to avoid taxes.

There's also no law requiring a presidential candidate to produce college transcripts or multiple forms of proof of his place of birth.

Collapse -
I don't live in NYC
by James Denison / July 13, 2012 8:14 PM PDT
In reply to: The point, Toni....

which means I don't pay the same taxes you pay. Does that mean I'm somehow doing something wrong? How's that beverage tax working out for you? I don't pay that one either, ha ha.

Collapse -
RE: I don't pay the same taxes you pay
by JP Bill / July 13, 2012 8:26 PM PDT
In reply to: I don't live in NYC
Collapse -
the only tax in common
by James Denison / July 13, 2012 8:48 PM PDT

would be the federal income tax, import tariffs maybe (if I drove foreign imports), and some excise taxes on items like tires. Other taxes would apply if I still smoked. Property, sales, beverage taxes and most fees are local or state derived. NYC is the "tax me" city in the "tax me" state and my taxes overall are a lot lower in Maryland than he pays in NYC. If I moved back to Florida, or to Texas, my taxes would be lower yet.

Collapse -
You didn't hate taxes enough
by JP Bill / July 13, 2012 9:18 PM PDT
In reply to: the only tax in common

to get off the parkway or whatever it was called on your trip to NYC.

You paid them and complained...I would have taken a country road rather than pay the toll.

Property, sales, beverage taxes and most fees are local or state derived

derived?

derived FROM citizen/individual/business PAID BY citizen/individual/business?

As I asked...YOU are an American citizen aren't you?

A property tax is a property tax, a sales tax is a sales tax, no matter which state you live in.

Does MD have a different name for their sales tax...other than sticking MD in front of the (sales tax) title?

Collapse -
to answer you taxes
by James Denison / July 14, 2012 5:20 AM PDT

the percentages are less in Maryland and fewer items are taxed. If you live in Florida you'd pay a bit less sales tax and NO state income tax. However Florida has the highest number of toll roads, exceeding even NY which is in second place, followed by NJ and Penn.

As for using the toll roads, I'd have faced that $13 bridge toll in NYC no matter how I drove to that point. I did run an alternate route using mapquest with "no tolls" setting and it extended the trip time to 7 hours each way instead of 4, so there's a decision that has to be made comparing convenience and time to cost of alternate route to avoid tolls. Basically they know the fastest and most direct route between here and NYC and grab money from you all the way. All of them did, Maryland, Delaware, New Jersey, and New York. There was an alternate route using old I-95 and beltways around several busy cities like Philadelphia that added maybe a half hour, but only saved about $10 in tolls along the way. It's also a lot more trucks on it than the route I took, all the way.

Collapse -
I have no idea how much tax you pay
by JP Bill / July 14, 2012 5:33 AM PDT
In reply to: to answer you taxes

but IF it's financially worth your while to move across the country to save a few bucks, go for it.

There would have to be more than just paying less taxes to get me to move.

In an ideal world...you would live where you want and NOT have to live/move to where it was cheapest to live.

OR

you could live where you want, and hide your money offshore, Like the bigboys do.

Collapse -
The USA actually used to BE
by TONI H / July 14, 2012 5:59 AM PDT

a mobile society....people moved all the time to find work or a new lifestyle. In today's economy, people are stuck where they are.

Collapse -
RE; people are stuck where they are.
by JP Bill / July 14, 2012 7:18 AM PDT

don't try and tell that to a UNION construction worker.

Collapse -
Most union jobs
by TONI H / July 14, 2012 10:11 AM PDT

aren't jobs that people leave to go to another state or city and expect to receive the same benefits here....they don't leave family, homes, and those jobs on a whim. By a mobile society, I was referring to sales, administrative, accounting, office, and factory people for the most part.

Collapse -
I dunno bout that
by itsdigger / July 14, 2012 12:56 PM PDT

Toni, I'm a third generation Operating Engineer here in Chicago and we never moved around to find work and , my father in law and his son never travel around looking for jobs, as a matter of fact I couldn't go from Chicago to say New York City and run a crane, they would castrate me.....Digger

Collapse -
Digger
by TONI H / July 14, 2012 2:01 PM PDT

That's what I was telling JP....union jobs aren't transferrable so most union workers don't pack up and move, but lots of others used to and can't anymore because there isn't any money to move with and jobs are so scarce they don't take the chance.

Collapse -
LOL,I just gotta love this.This is just another attack on...
by Tony Holmes / July 11, 2012 7:43 AM PDT

Romney that's gonna backfire and injure the genius Dems that loaded the gun :=)

Romney's financial black hole and his off-shore bank accts??...LOL.

How 'Bout we take a look at Debbie "was-a-man" Schultz?

http://twitchy.com/2012/07/10/surprise-little-debbie-wasserman-schultz-had-a-swiss-bankroll/

We can't forget good old Pelosi,can we now?

http://www.fireandreamitchell.com/

Let's see now...Oh! BO's closest and trusted advisior,Valerie Jarrett.Yup,she's BO's right hand "man".lol.

http://www.dividedstates.com/valerie-jarrett-obamas-right-hand-man-has-offshore-bank-account-and-line-of-credit/

Collapse -
(NT) Are any of those people running for president?
by Josh K / July 11, 2012 11:29 PM PDT
Collapse -
Nope, but
by TONI H / July 12, 2012 1:13 AM PDT

nobody was looking into finances regarding JFK or Robert Kennedy or John Kerry or John Edwards.......double standard, Josh?

Collapse -
JFK and RFK? Seriously?
by Josh K / July 12, 2012 2:29 AM PDT
In reply to: Nope, but

This level of investigation just didn't exist 50 years ago, Toni. Nobody looked into Eisenhower's finances either, though I recall Nixon having some issues (hence the "Checkers" speech).

I'm not aware of anything in Kerry's or Edwards' finances or the ways in which they earned their money that raised any red flags, though I do remember a bit of press about the money Edwards raked in as a lawyer while claiming to be a spokesperson for the downtrodden. It came back to bite him and you may recall that they lost that election.

Collapse -
Edwards specialty was babies born with CP
by Steven Haninger / July 12, 2012 2:48 AM PDT
http://fumento.com/government/edwards2007.html

He was an ambulance chaser and, despite the unlikelihood that an obstetricians mistake could cause the affliction, he exacted millions from them. From what I've read, he was well known for his courtroom theatrics where he'd parade a stricken child in front of the jury to gain their sympathy. Say all you want about other greedy business people as related to politics but make sure Mr. Edwards is high on your list of those to ream out.
Collapse -
And I'm pretty sure.....
by Josh K / July 12, 2012 2:53 AM PDT

.....that kind of stuff came out during the 2004 campaign, and it may have been part of the reason his 2008 effort was such a failure. Toni is suggesting "the liberal media" didn't pay any attention to how Edwards made his money. I think you'd find otherwise if you went back and looked.

Collapse -
As a VP candidate, I don't remember Edwards
by Steven Haninger / July 12, 2012 3:10 AM PDT

being assailed for anything but his expensive haircuts. It was Kerry whose past was under scrutiny. Those running for VP get comparatively little notice...at least until Palin came around.

Collapse -
Palin was a different story....
by Josh K / July 12, 2012 3:26 AM PDT

....because her very selection was intended to be an attention-getting gimmick. It worked, just not the way the McCain people had hoped it would.

Gerry Ferraro got similar attention when Walter Mondale picked her as his running mate. She was a lot smarter than Sarah Palin (OK, who isn't, I mean really), but had all the charisma of drying paint, and it turned out her husband had some pretty shady business doings, which DID come out in the "liberal media." And they lost too. Happy

Collapse -
They lightly hit on Edwards
by TONI H / July 12, 2012 3:53 AM PDT

just as they lightly hit on BO's associations with Rezko, Johnson, Jones, Ayers, etc. Barely noticed by the MSM. He lost because he was a lousy candidate, not because he was being vetted properly, Josh.

And there was literally nothing regarding Kerry's money........other than to mention that he married into it.......the same was true for Al Gore when he ran. The liberal MSM hardly looks into the backgrounds of Dem candidates, but wants complete and utter disclosure back to high school for Republicans. The liberal MSM wanted everything on Bush during his college years and his military service, but has completely ignored BO's 'poor' background skyrocketing to extremely expensive schools. They've given him a pass when he says he did it all on student loans, but hasn't even wondered about how he managed to pull off those huge loans when by his own admission was higher than a kite on drugs and in a haze during his last two years of high school. Was he paying somebody to take his SAT's for him if he was so stoned? How did he managed to come out of his haze long enough to qualify for such prestigious schools.....during 'summer vacation'? Where are his college transcripts and why has he 'transparently' buried them from public view? Come on, Josh.........the 'king' has no clothes and the MSM just keeps singing his praises.

Collapse -
I went to high school.....
by Josh K / July 12, 2012 3:58 AM PDT

....at a very highly regarded school in New York City. There were a lot of "stoners" there and many of them did very well on their SATs, got into Ivy League schools, etc. I'm willing to bet that Barack Obama did not show up stoned for his SATs.

And "there you go again," clamoring for Obama's college transcripts, which no candidate in history has ever been asked to produce, and yet you have no concerns at all about Romney's business dealings despite the fact that he's now been caught lying about when he left Bain Capital (see the other thread).

Collapse -
Excuse me
by TONI H / July 12, 2012 4:31 AM PDT

but didn't the Dems and liberal MSM go after BUSH'S college info? AND rag about how he couldn't have possibly gotten into that college or the military without his father's influence? I think it's a little surprising that BO has DELIBERATELY buried HIS college info....but BUSH let his be known. Yeah, you're damned straight I want to know what he's still hiding about not only his transcripts but how he got into those elite colleges and WHO helped him get there. We can't even find out what his HIGHSCHOOL grades were....but somehow the Dems managed to dig up ROMNEY's accused by the media 'gay bashing' during high school.

Collapse -
Gay bashing and impersonating a police officer
by Josh K / July 12, 2012 4:50 AM PDT
In reply to: Excuse me

Several times, in fact. Did you hear that story?

http://www.youtube.com/watch?v=rai6unYUpiM

Rant on, Toni. Demand Obama's high school records while insisting you don't care about Romney's business record, the record he's running on. Have at it. Knock yourself out.

Collapse -
I'm ranting
by TONI H / July 12, 2012 5:03 AM PDT

By BO's own admission, he broke the LAW by being stoned and on coke during his high school years...during an on-air interview, he joked about how 'inhaling IS the point'.....anybody going after him? He also bullied a girl, by his own admission....anybody breaking their silence on that? Where's the liberal MSM when he oversteps his authority by granting 'executive privilege' to AN UNDERLING...when it's only supposed to be used for HIMSELF?

You have no problem at all with going after Romney for whatever you feel is an injustice or a lie, Josh....and keep defending BO's actions completely.........you have a severe double standard. You guys did this with Palin but thought Biden walked on water as a VP and he's a bumbling idiot.......and no matter what you 'say'....she's FAR more intelligent and capable of running this country than that idiot Biden. I worry every day that BO will be assassinated or have a heart attack or something that ends his life and we'll end up with Biden, even for only a couple of months. He'd be run over twice by Pelosi and Reid to get whatever they didn't finish getting from BO because he'd be in the bathroom washing his shorts every few minutes. The man hasn't a clue...........

Collapse -
Biden runs his mouth....
by Josh K / July 12, 2012 5:15 AM PDT
In reply to: I'm ranting

......but nobody (other than you, apparently) would call him stupid. I'd put him up against Palin on "Jeopardy" any day of the week. I doubt she can even spell it.

Bush used cocaine also, if you want to go down the "drugs are illegal" road. He was also arrested for DUI three times.

Impersonating a police officer and pulling people over with a red flashing light on your car is a felony in several states (including Michigan) and for good reason. Even the police tell you that if you get flagged by an unmarked car at night and you are in a remote area, not to stop, but to find a police station or lighted, populated area and THEN pull over.

Collapse -
LOL, Bernie Madoff
by James Denison / July 13, 2012 8:21 PM PDT
In reply to: I'm ranting

would have loved to met Josh and sold him some investments, considering the "pig in the poke" he bought last election for President. Wink

Popular Forums
icon
Computer Newbies 10,686 discussions
icon
Computer Help 54,365 discussions
icon
Laptops 21,181 discussions
icon
Networking & Wireless 16,313 discussions
icon
Phones 17,137 discussions
icon
Security 31,287 discussions
icon
TVs & Home Theaters 22,101 discussions
icon
Windows 7 8,164 discussions
icon
Windows 10 2,657 discussions

Does BMW or Volvo do it best?

Pint-size luxury and funky style

Shopping for a new car this weekend? See how the BMW X2 stacks up against the Volvo XC40 in our side-by-side comparison.