Romney: Panama!

Cue the Van Halen song…

The LA Times: “When Mitt Romney launched Bain Capital in 1984, he struggled at first to raise enough money for the untested venture. Old-money families like the Rothschilds turned down the young Boston consultant. So he and his partners tapped an eclectic roster of investors, raising more than a third of their first $37-million investment fund from wealthy foreigners. Most of the foreign investors' money came through corporations registered in Panama, then known for tax advantages and unusual banking secrecy.”

“Mitt Romney's wife is reinforcing her husband's refusal to make public several years of tax returns, saying ‘we've given all you need to know’ about the family's finances,” AP writes. Ann Romney tells ABC News she thinks the Obama campaign's attacks on her husband have been ‘beneath the dignity of the presidency.’ And she says people will decide whom to vote for based on whether their lives would be better under Mitt Romney than President Barack Obama. She says that ultimately she believes voters are ‘going to fire the coach.’”

Romney has a web video that edits President Obama’s remarks that the campaign is focusing on – that if you have a business, “you didn’t build that.” That ad, called “These Hands,” features a New Hampshire metal fabrication company owner named, Jack Gilchrist, who says the president is “killin’ us out here.”

Gilchrist isn't an undecided, non-political New Hampshire business owner. Romney held an event at his company earlier this year and while there, Gilchrist spoke to the crowd and declared he was suffering from "Obama Trauma.” Gilchrist told The New Republic last month: “We need somebody taking responsibility. I’m a business leader. I’ve got 38 employees and I don’t blame anybody else for my friggin’ problems.”

NPR takes a look at questions tax professionals are raising about Romney’s finances, in particular his tax-deferred retirement accounts. Individuals are only allowed to contribute $30,000 a year to those accounts, but Romney’s amassed between $21 million and $102 million in them. “Romney might have loaded up his retirement account with assets from his private equity firm, Bain Capital, and assigned artificially low values to those assets in order to get around the federal contribution limits,” NPR reports. “If so, Romney would still have to pay taxes on the real value of the assets when they're withdrawn from the account. But in the meantime, the money can grow tax free. Tax Notes' Sheppard says that's an advantage most taxpayers don't have.”

And NPR draws a line to Romney’s time at Marriott. Law professor Ed Kleinbard of the University of Southern California, “who worked on Wall Street and served as chief of staff for Congress' Joint Committee on Taxation, says Marriott had a reputation.” He said, “Marriott was always a tax shelter promoter's first call," he says. "Marriott was one of those companies that just loved to buy tax shelters."

And: “Bloomberg reported this year on one Marriott tax shelter, known as "Son of BOSS." It involved creating paper losses to offset taxes on real income. The Internal Revenue Service challenged the shelter and Marriott lost in court. Judges called the shelter "fictitious" and a "scheme," and the company was forced to pay $29 million.”

The chair of Marriott’s audit committee at the time that shelter was adopted – Mitt Romney.

“Mitt Romney wasted no time telling a woman at an Ohio town hall meeting he disagreed with her characterization of President Obama as a ‘monster,’” USA Today writes, adding, “By publicly disagreeing with the potential voter, Romney avoided repeating an incident in May where a questioner remarked that the president should be ‘tried for treason.’”

The exchange: The woman said of Obama: "He's had to lay off people, and he may have to close some stores, and it's all because of what this monster has done to this country.”

Romney: "That's not a term I would use."

“The self-proclaimed ‘Toughest Sheriff in America’ is facing one of his toughest tests. A trial begins Thursday morning in Phoenix accusing Maricopa County Sheriff Joe Arpaio of violating the civil rights of Latino citizens and legal U.S. residents,” NPR reports. “The class-action civil suit says the sheriff went over the line in his efforts to crack down on illegal immigration.”

“An NAACP official says Mitt Romney’s campaign brought its own black supporters to the civil rights group’s convention last week to give him the appearance of a cheering section,” the New York Daily News writes. “Hilary Shelton, who runs the NAACP’s Washington office, said the campaign gave him a list of African-American ‘VIPs’ who were flown in to meet with Romney and provide a show of support.

“We were aware that they had people brought in specifically for the campaign,’ Shelton told MSNBC.”

Discuss this post

The Romney must have something to hide. Both Mitt and Ann are fighting too hard not to release their tax returns. More and more information keeps coming to the surface, now it is Panama where there were tax advantages, just the advantage Romney looks for. He doesn't want to pay taxes due the USA.

  • 1 vote
Reply#1 - Thu Jul 19, 2012 8:59 AM EDT

OMG, Panama, the tinfoil-hat crap Reagan used? It's bad enough Romney is going around repeating the FAUX Noise lie that misquotes the president, and referring to the president as "foriegn" (you know, Birther crap) -- Heck he might as well go straight to the John Bircher fluoridation mind-control conspiracy!

The reason the rightwing loves to muddy these terms, for example "European" and now Romney repeating "foreign" is to try to paint the president as something "Other." It all gets back to racism and lies about his religion and plain bigotry. The Republican Party has always been a sanctuary for bigots, so sad.

Let's talk about "Other." Stephen Colbert pointed out something interesting -- that Nevada (for example) is trying to remove the option of "None of the above" from the ballot before the 2012 presidential election. Why? Because Romney IS "None of the above" and doesn't want to compete with the actual "None of the above" option.

So ask yourselves, what's worse? Being 'Other" or being "None of the above" and it becomes clear why Teapublicans are SO desperate to paint the president as "Other."

The old lies won't work now on a sitting president who is vetted and well-known. It is YOU Romney who the voters jitters about, and rightfully so. Pathetic, desperately pathetic!

    #1.1 - Thu Jul 19, 2012 3:40 PM EDT
    Reply

    She says that ultimately she believes voters are ‘going to fire the coach.’”

    Let's see now, what's the recent news on coach firing? Oh yeah, Paterno and Sandusky! How nice that Ann Romney decided to use that analogy.

    • 3 votes
    Reply#2 - Thu Jul 19, 2012 10:01 AM EDT

    And there you have it. Annie Romney, arrogant and entitled, the new Leona Helmsley. "The little people do not have to know about their betters."

    You could see that coming a mile away.

    Annie: your husband wants the highest job in the land. YOU and HE are responsible to the voters, the voters are NOT responsible to you.

    But, what do you expect from someone who would dope up and sell on a lame horse to a friend?

    • 4 votes
    Reply#3 - Thu Jul 19, 2012 11:13 AM EDT

    Good lord. Between Mitt's shifty finances and his wife's bad attitude toward the middle class, Romney chances of winning in November are just about zilch.

    • 2 votes
    #3.1 - Thu Jul 19, 2012 12:46 PM EDT

    I'm not sure what is more humorous, Mitt hiding behind Anne to decry releasing tax records or just Mitt himself.

    What a pathetic duo. How low the GOP has sunk!

    Obama/Biden 2012

    • 2 votes
    #3.2 - Thu Jul 19, 2012 1:20 PM EDT

    I don't trust him or her ..send these "BUMS" back to the country club !

    • 1 vote
    #3.3 - Thu Jul 19, 2012 1:59 PM EDT
    Reply

    Running for President does not require the forfeit of all privacy. Two years of tax records is more than enough. What we have from President Obama show two main points:

    1. Obama and Biden donate next to nothing to charities. Obviously they like giving our money away more than they like giving their own money.
    2. If you want to dramatically increase your book sales, run for national office.
    • 1 vote
    Reply#4 - Thu Jul 19, 2012 12:14 PM EDT

    Bill - you're a liar - both the President and Vice President donate a considerable amount to actual charities whereas Mitt donates to his church and claims it's charitable. Also both the President and Vice President and their families have always donated their time to various charities.

    Romney, on the other hand, doesn't have time to volunteer. He's too busy .... we don't know what he's busy doing.

    Obama/Biden 2012

      #4.1 - Thu Jul 19, 2012 1:22 PM EDT

      Re book sales, Bill: Obama ordered the State Department to buy more than $70,000 worth of Obama's own books. He told them to send them out as gratuities, and to stock "key libraries" around the world with "Dreams From My Father" (more than a decade after its release).

      Obama decided that your money would be better spent on buying his book than anything you might want for yourself or your family.

      I wonder how many million copies Solyndra bought.

        #4.2 - Thu Jul 19, 2012 2:23 PM EDT
        Reply

        It looks like this arrogant bitch wants the White House more than her husband.

        • 2 votes
        Reply#5 - Thu Jul 19, 2012 12:39 PM EDT

        From the article: “An NAACP official says Mitt Romney’s campaign brought its own black supporters to the civil rights group’s convention last week to give him the appearance of a cheering section,” the New York Daily News writes. “Hilary Shelton, who runs the NAACP’s Washington office, said the campaign gave him a list of African-American ‘VIPs’ who were flown in to meet with Romney and provide a show of support.

        Mitt has to hire his own audiences? Is that embarrassing or what? This is only going to get worse for him as time goes on...

        • 2 votes
        Reply#6 - Thu Jul 19, 2012 12:51 PM EDT

        Exactly, he had to HIRE some Black folks to sit in his audience to give the APPEARANCE that Blacks supported him...talk about a joke! The ONLY way he can get folks like that in his audience is to PAY them, like the $500 he spent on Hamburgers in Wisconsin to get folks to vote for Walker..and then he 'learned' that it was illegal to give things to people in order to get them to vote his way...and he was not charged just because it is Walker in charge of the police in this State......Romney is as crooked as they come and does not even recognize that fact, he thinks it is 'normal' to be like that!

        • 2 votes
        #6.1 - Thu Jul 19, 2012 5:00 PM EDT
        Reply

        Romney thinks he can run and hide at the same time. Nobody really knows what he has done or where he stands. However, with every speech we all know where he lies.

        • 1 vote
        Reply#7 - Thu Jul 19, 2012 1:43 PM EDT

        Our new Queen has spoken. Under Romney will have a new monarchy and instead of an inauguration we will celebrate a coronation. We will become royal subjects. HELL NO!

        • 1 vote
        Reply#8 - Thu Jul 19, 2012 3:19 PM EDT

        Romney: "That's not a term I would use." Wow, that's like the weakest correction I've ever heard. He was probably signalling through winks and body language "But you can go on using it as much as you want"

          Reply#9 - Wed Jul 25, 2012 1:12 PM EDT
          You're in Easy Mode. If you prefer, you can use XHTML Mode instead.
          As a new user, you may notice a few temporary content restrictions. Click here for more info.