tsarstepan
 
  2  
Reply Fri 24 Aug, 2012 12:52 pm
@revelette,
You're right. It never was funny. Romney apparently is speaking out of both sides of his ugly mouth. To the Democrats, "Oh, it's just merely a light hearted joke. Just lighten up." To die hard conservatives, he's dead seriously trying to rally the troops.
McGentrix
 
  0  
Reply Fri 24 Aug, 2012 12:57 pm
@revelette,
Because you will never get it. You have been brainwashed into believing Romney is evil incarnate and nothing he can say or do will ever be taken as anything other then evil.

That's why it's funny.
Krumple
 
  1  
Reply Fri 24 Aug, 2012 12:58 pm
@tsarstepan,
tsarstepan wrote:

You're right. It never was funny. Romney apparently is speaking out of both sides of his ugly mouth. To the Democrats, "Oh, it's just merely a light hearted joke. Just lighten up." To die hard conservatives, he's dead seriously trying to rally the troops.


I really hope that he wins not because I think he would be a good president, because I think he would be terrible for the country but just to see everyone disappointed. I like when the underdog wins and from how many messages get tossed around about how bad he is, I would just like to see him win so all you guys who talk so much **** will feel defeated. I might have to eat my own words by saying this now but it's worth it if he does win.
0 Replies
 
cicerone imposter
 
  2  
Reply Fri 24 Aug, 2012 12:59 pm
@McGentrix,
Nobody that I know of ever used "evil incarnate" to describe Romney, but he is a known liar. How people describe this POS is probably pretty accurate.

An excessive liar like Romney should never be a president of any country. We must question people who support known liars like Romney to become our president.

They have no ethics or shame.
0 Replies
 
MontereyJack
 
  3  
Reply Fri 24 Aug, 2012 01:35 pm
Oh, give me a break, McG. Romney isn;t evil incarnate, he's just willing to sell his soul to be president, not that he has any grand vision of what he could do for the country, because he doesn't. He just REALLY wants to be president. He's only a wannabe evil incarnation. Ann Coulter, Karl Rove, and Dick Cheney are the real evil incarnates. Get with the program.
0 Replies
 
revelette
 
  2  
Reply Fri 24 Aug, 2012 01:46 pm
@McGentrix,
It was a tasteless joke because it goes along with Romney's pattern of late of referring to Obama as foreign. Outside of that context, the joke was not funny and you and I am sure Romney know it.
McGentrix
 
  1  
Reply Fri 24 Aug, 2012 02:05 pm
@revelette,
I laughed when I heard it. It was a political jab. If you don't get that, you are taking this waaaaay too seriously.
cicerone imposter
 
  1  
Reply Fri 24 Aug, 2012 02:10 pm
@McGentrix,
There's nothing funny about a liar lying about his how lies, especially for any individual running for the highest office of our country.

Can you identify for us what "TRUTHS" he has ever spoken?
jcboy
 
  3  
Reply Fri 24 Aug, 2012 02:18 pm
Release the tax returns and we can clear all this up. Guess whatever Romney is hiding is worse that the speculation. Wow.

http://www.huffingtonpost.com/2012/08/24/mitt-romney-tax-returns_n_1827632.html?show_comment_id=180286047#comment_180286047,sb=3237480,b=facebook

Quote:
Mitt Romney Tax Returns May Have Employed Legally Dubious Maneuvers, Tax Experts Say

WASHINGTON -- Tax experts who have begun to examine the Bain Capital documents released Thursday by Gawker are raising questions as to whether presumptive GOP presidential nominee Mitt Romney has paid all the taxes he owed.

At issue are two tax-avoidance techniques employed by Bain Capital, the firm founded by Romney, which have been commonly used in the private equity world but have come under increasing legal scrutiny.

The first scheme involves owning U.S. dividend-paying stocks in an offshore account and pretending, for accounting purposes, not to own the stock. Instead, the taxpayer tells the Internal Revenue Service that he owns a derivative product that is identical in every way to the stock -- except it isn't the stock, so therefore no U.S. taxes are owed. It's called a "total return equity swap," because the buyer still gets the benefit -- the "total return" -- of owning the stock, or equity.

"This use of total return equity swaps, such as to avoid the U.S. dividend withholding tax, was very widespread for more than a decade, and may not be dead yet, although the IRS issued a shot-across-the-bow Notice concerning the practice in 2010," writes Daniel Shaviro, the Wayne Perry Professor of Taxation at New York University School of Law. "But taxpayers who engaged in it to avoid the dividend withholding tax were coming perilously close to committing tax fraud, in cases where the economic equivalence to direct ownership was too great."

The second technique is "not legal," according to Victor Fleischer, a tax expert and professor of law at the University of Colorado. A taxpayer saves substantial amounts of money by pretending that regular income received as a management fee for running a private equity firm is not income, but is instead a capital gain. That drops the tax rate on that income from 35 percent to 15 percent.

Citing the Gawker documents, Fleischer notes that Bain engaged in the management-fee maneuver to reduce the tax bill of its investors. "Unlike carried interest, which is unseemly but perfectly legal, Bain’s management fee conversions are not legal. If challenged in court, Bain would lose. The Bain partners, in my opinion, misreported their income if they reported these converted fees as capital gain instead of ordinary income," he writes.

Shaviro, meanwhile, notes that Bain employed a version of the total return equity swap and says that taxpayers who engage in the practice have little legal justification for doing so. "[T]he only leg that taxpayers had to stand on in some of these cases was common practice and the apparent lack of IRS enforcement (not a very strong leg if the correct application of the law was clear)," he writes. "How far out on the limb were Bain-affiliated foreign entities that were making money through total return equity swaps, and claiming not to owe U.S. withholding tax? And what should we make of this, for purposes of the presidential campaign, if what they were doing, while legally dubious, was common practice?"

"The unauthorized disclosure of a number of confidential fund financial statements is unfortunate," said Charlyn Lusk, a spokeswoman for Bain Capital. "Our fund financials are routinely prepared by auditors and demonstrate a commitment to transparency with our investors and regulators, and compliance with all laws."

Michele Davis, a spokeswoman for the Romney campaign, said that Romney is not responsible for whatever tax strategy employed. "As we have said many times before, Governor and Mrs. Romney's assets are managed on a blind basis. They do not control the investment of these assets, the investment decisions are made by a trustee," he said.

But if Bain used improper tax-avoidance techniques, the Romneys would be required to amend their returns regardless of the blind nature of the investments.

Private equity managers already get the vast majority of their income from capital gains, which are taxed a lower rate, but also take a fee -- typically 2 percent -- off the top. That management fee is income. But some private equity managers have claimed to "waive" that fee in exchange for future capital gains.

"In exchange for a minimal amount of economic risk, the tax benefit is enormous: the compensation is transformed from ordinary income (taxed at 35%) into capital gain (taxed at 15%). Because the management fees for a large private equity fund can be ten or twenty million per year, the tax dodge can literally save millions in taxes every year," writes Fleischer. "The problem is that it is not legal."

The IRS says the fee cannot be waived in exchange for capital gains if the income "relates to a substantially certain and predictable stream of income from partnership assets." In other words, Bain investors would need to convince a judge that their revenue stream was risky and not "substantially certain and predictable."

Fleischer says he doesn't think the tactic would hold up in court. "Because the deals vary in their aggressiveness, there is some disagreement among practitioners about when it works and when it doesn’t," he writes. "But in my opinion, and the opinion of many tax practitioners, the practices that were common in the private equity industry in the 2000s became very, very questionable, and it’s unlikely that they would have stood up in court."

But did Romney himself benefit from these maneuvers? And is Romney responsible for the legally dubious tax avoidance strategies Bain employed? Yes, Fleischer concludes:
0 Replies
 
parados
 
  2  
Reply Fri 24 Aug, 2012 02:19 pm
@McGentrix,
McGentrix wrote:

I laughed when I heard it. It was a political jab. If you don't get that, you are taking this waaaaay too seriously.

The ONLY way to get it is to compare and contrast Obama having to provide his birth certificate. That makes it a birther joke. There is NO other way to make it funny.

Poor taste? Probably.
I do like the comeback about no one asking to see Obama's tax returns but I doubt Romney would find that one funny. Do you?
0 Replies
 
McGentrix
 
  0  
Reply Fri 24 Aug, 2012 02:20 pm
I heard that Romney also bought Albania in 1993 and he doesn't want anyone to know about that expenditure.
cicerone imposter
 
  1  
Reply Fri 24 Aug, 2012 02:29 pm
@McGentrix,
Does anybody trust their money and/or wife with a known liar?

Just asking.
Krumple
 
  1  
Reply Fri 24 Aug, 2012 02:31 pm
@cicerone imposter,
cicerone imposter wrote:

Does anybody trust their money and/or wife with a known liar?

Just asking.


Well first, show me a politician who has never lied and then I'll answer the question weather or not I trust them with "my" money.
cicerone imposter
 
  1  
Reply Fri 24 Aug, 2012 02:34 pm
@Krumple,
Abe Lincoln, George Washington, and many others - including my brother who is a republican.
Krumple
 
  1  
Reply Fri 24 Aug, 2012 02:34 pm
@cicerone imposter,
cicerone imposter wrote:

Abe Lincoln


bullshit
DrewDad
 
  1  
Reply Fri 24 Aug, 2012 02:38 pm
@Krumple,
Krumple wrote:
Well first, show me a politician who has never lied

First, show a person* who has never lied.



*"person" meaning an adult person. Two year olds don't count.
Krumple
 
  1  
Reply Fri 24 Aug, 2012 02:41 pm
@DrewDad,
DrewDad wrote:

Krumple wrote:
Well first, show me a politician who has never lied

First, show a person* who has never lied.



*"person" meaning an adult person. Two year olds don't count.


That was my point to him but he isn't intelligent enough to realize that.
0 Replies
 
cicerone imposter
 
  1  
Reply Fri 24 Aug, 2012 02:42 pm
@Krumple,
That's a typical answer from you; a blank, a nothing response.

Try to provide evidence to the contrary if you can; you can't.

There's a jargon for people like you; loser.
Krumple
 
  1  
Reply Fri 24 Aug, 2012 02:43 pm
@cicerone imposter,
cicerone imposter wrote:

That's a typical answer from you; a blank, a nothing response.

Try to provide evidence to the contrary if you can; you can't.


You actually believe that he never told a lie? Really?
0 Replies
 
joefromchicago
 
  3  
Reply Fri 24 Aug, 2012 03:59 pm
@McGentrix,
McGentrix wrote:

I heard that Romney also bought Albania in 1993 and he doesn't want anyone to know about that expenditure.

That can't be true. There are Albanians who still have jobs.
 

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