tag:blogger.com,1999:blog-6685155377705481833.post6527365193303276074..comments2023-09-22T03:17:50.469-04:00Comments on Middle Class Political Economist: What is Mitt Romney Hiding? UPDATEDKenneth Thomashttp://www.blogger.com/profile/05747704671007690674noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-6685155377705481833.post-56471462165605627582012-07-11T23:07:01.491-04:002012-07-11T23:07:01.491-04:00Rick H.
Yes! Why has no one in the MEDIA said thi...Rick H. <br />Yes! Why has no one in the MEDIA said this?!!! Why are the Republicans unwilling to scrutinize Obama's past? What are they afraid of? <br />Lets see Obama's records!<br /><br />I am certain both men are hiding dark secrets from the public...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6685155377705481833.post-27060019434701566602012-07-07T19:40:53.442-04:002012-07-07T19:40:53.442-04:00If ROmney had any balls he'd say you get to se...If ROmney had any balls he'd say you get to see his returns when everybody gets to see obama's academic recordRick H.noreply@blogger.comtag:blogger.com,1999:blog-6685155377705481833.post-84351089345901732912012-07-07T01:26:48.753-04:002012-07-07T01:26:48.753-04:00Mr Thomas:
I respect your answer. Can I fill in...Mr Thomas:<br /> I respect your answer. Can I fill in a few holes for you about Bain Capital. I do not work there, however work for a firm that is also a private firm, with a managing partner. At our firm, when you become a general partner, you may retire, and still draw a income based upon what the firm does after you leave. You may roll over all your assets at that time. However it is possible to still receive income each year based upon your holding of general partnership once you leave. This income is based upon what the firm does during the year. So even though he is retired, he could still draw an income based upon his company holdings. At our firm, with each payment your general holdings are liquidated, do not know about at Bain. These are considered Capital Gains. They would be taxed at the highest cap gains rate. If he released his new tax return, it may not answer that question. Since it would depend upon when he did roll over the amount. I also know that if he tried to place more into the pre tax arena, than would be allowed, the IRS would be all over him. Just like you and I.<br /> Now let's say he maxed out his 401k each and every year since 1980, and just averaged 15% a year during that time, which would be low for him, however, he would be looking at the ballpark of 11.5 million, he would also have deferred comp that he could do, let's say 150k a year, that would be about 86 million. add together would give you 102 million. what is $175,000 a year in deferred comp? For a managing partner???? <br />not much.....<br />God bless and have a great eve.....<br />Markmark leuellennoreply@blogger.comtag:blogger.com,1999:blog-6685155377705481833.post-80793363876765866182012-07-06T19:18:32.839-04:002012-07-06T19:18:32.839-04:00I am a political economist; my home department is ...I am a political economist; my home department is political science.<br /><br />As Shaxson relates, it is unclear what Romney's current relationship with Bain is, as he continues to receive income from Bain ($2 million just last month). So it's unclear if he could have rolled all this over or not.<br /><br />In any event, if he released his tax returns, it would answer the question of how he got $102 million in his IRA.Kenneth Thomashttps://www.blogger.com/profile/05747704671007690674noreply@blogger.comtag:blogger.com,1999:blog-6685155377705481833.post-13676736711262814382012-07-06T17:31:01.667-04:002012-07-06T17:31:01.667-04:00Pete:
You need to do some homework dude. Mr Romne...Pete:<br />You need to do some homework dude. Mr Romney call roller all tax deffered investments after he leaves Bain. That includes his 401k, deferred comp, effered bonuses. Even the cash value of the life insurance policy Bain most likely had on him as leader. <br />So you can not figure $2k a year. he most likely was putting a whole bunch more, all legal, just like you can. <br /> Staples has averaged 12% since 1991. Just that in vestments alone, if he would have placed 10k a month into, would have grown to 12 million. so it is not out of the realm that when he started and the amount he was deferring, he could be in that ballpark.<br />Now I have a question for you. How many questions did you ask about our president 4 years ago, and why not?????????mark Leuellennoreply@blogger.comtag:blogger.com,1999:blog-6685155377705481833.post-70641239445579547302012-07-06T17:16:00.948-04:002012-07-06T17:16:00.948-04:00Mr. Thomas;
For a person who makes himself o...Mr. Thomas;<br /> For a person who makes himself out to be a economist, he sure do make quite a new mistakes. For instance, Rodney has $102 million in his Ira, Although only $2k a year. <br /> First of, Rodney is no longer at Bain. So we can assume he has rolled over all of his tax deferred accounts from Bain. So lets start with his 401k plan. Then lets start out with his deferred comp plan. His tax deferred bonus plan, stock options. All of these are legal to use. As for the growth, well since 1992, staples alone has averaged 11.9%, I am sure that he purchase many of the companies he had a stake in. <br /> Lets not forget that while he was at Bain from the mid 70's through the mid to late 90's, was a great time in stock market history. For an economist, you should know this. Which raises two questions?<br />1) If you know this then, are you raising this innuendo even though you know to ruin a reputation?<br />2) If you do not know, then why not and why did you not do some homework? Cause if you did not know, then I now have to question your degree.........mark Leuellennoreply@blogger.comtag:blogger.com,1999:blog-6685155377705481833.post-25379860031897866232012-07-06T14:51:58.872-04:002012-07-06T14:51:58.872-04:00Actually, according to Tim Worstall of the Adam Sm...Actually, according to Tim Worstall of the Adam Smith Institute, there were already some inklings of Maxwell's crimes before his death but, as you say, much more was discovered afterwards.<br /><br />Still, Bain was taking money from some of the dirtiest tax havens in the world, including Panama, as Shaxson reports.Kenneth Thomashttps://www.blogger.com/profile/05747704671007690674noreply@blogger.comtag:blogger.com,1999:blog-6685155377705481833.post-40674337010952755962012-07-06T10:02:23.633-04:002012-07-06T10:02:23.633-04:00"that at least one was a notorious financial ..."that at least one was a notorious financial criminal, Robert Maxwell."<br /><br />Honestly, this is about as ignorant a comment as I have ever seen. Robert Maxwell was discovered to be a financial criminal after his suicide. He was a well respected, flamboyant media tycoon and supporter of left wing causes and unions while he was alive. The smear above seems to imply thet Romney should have known he was dealing with a criminal, when NO ONE in the wrold knew it until he was dead. This very weak and practically libel.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6685155377705481833.post-39897701581288566512012-07-05T23:23:03.376-04:002012-07-05T23:23:03.376-04:00You would think the Obama campaign would exploit t...You would think the Obama campaign would exploit this huge vulnerability in the Romney campaign; however, I think a lot of blue dog democrats and Wall Street funded candidates will run from it, similar to them running from the Bain attacks. Unfortunately, I'm afraid tax avoidance will get chalked up as one of the perks of success, which by default makes it no longer "Fair Game".Anonymoushttps://www.blogger.com/profile/12655474432248199011noreply@blogger.comtag:blogger.com,1999:blog-6685155377705481833.post-23555636362314575622012-07-05T18:12:42.372-04:002012-07-05T18:12:42.372-04:00Actually, he could contribute another $30,000 to a...Actually, he could contribute another $30,000 to another retirement vehicle and I believe it was $32,000 that grew into $102 million.<br /><br />But that hardly makes a difference. Romney achieved a 21,250% return on investments of 32,000 a year, and shields $102 million from taxes.<br /><br />that implicates a lot of both legal and policy issues.Peter Janovskyhttps://www.blogger.com/profile/07590229306105292675noreply@blogger.com