Monday, 16 July 2012
1. From Salon: What’s hiding in Mitt’s taxes?
If releasing his tax returns is more damaging than hiding them, there must be something worth concealing
George Will made a point that Democrats have made before him, but his conservative credibility and capacity for pronouncements from on high gave it special resonance: Romney’s older tax returns must contain more damaging information than what we already know, since he’s so intent on hiding them.
“The costs of not releasing the returns are clear,” Will said. “Therefore, [Romney] must have calculated that there are higher costs in releasing them.” The Weekly Standard’s Bill Kristol and Bush-Cheney advisor Matthew Dowd also joined the chorus of supposed allies asking Romney to release more returns.
“You’ve got to release six, eight, 10 years,” Kristol said, calling Romney’s reluctance to do so “crazy.”
So what would be more damaging than what Romney’s 2010 and 2011 returns told us? We already know that he’s insanely wealthy, that he’s got his money in offshore tax havens like the Cayman Islands and Bermuda, and that he paid an obscenely low 13.9 percent tax rate because he made his money from investment, not work, a result of the way our tax system privileges the investor class over even rich people who have to labor for a living. If that’s the kind of thing that outrages you, you’ve got enough to be outraged about.
But what if Romney had years where he paid no taxes at all? The New Yorker’s John Cassidy surveys the list of possible reasons for Romney to hide his returns and seems to think that’s the most plausible explanation. Cassidy admits he’s in the realm of “speculation” – but that’s where Romney has left the electorate with his refusal to release more than two years of filings.
Other explanations Cassidy considers include even higher income, even more offshore accounts, and investments in businesses or industries that might be politically embarrassing. But since we already know Romney is ridiculously rich and that he has damaging offshore accounts, the first two don’t seem a reason to hide his returns. The third is possible, but as Cassidy observes, since we know Bain Capital invested in businesses that ruthlessly laid off workers and even one that disposed of aborted fetuses, it’s hard to imagine many more politically damaging revelations.
“But there may have been a year in which Romney’s federal tax rate was in the single figures, and possibly even close to zero,” Cassidy posits, since the two years he was willing to release are when he was the nominal front-runner for the GOP nomination and was probably more cognizant of the political risks to aggressive tax-avoidance. Romney’s accountants might have written off a big loss or used other legal ways to minimize or even eliminate his tax burden. To be fair, I should note that although Cassidy seems to think that’s the most likely reason for Romney to conceal his returns, he calls it “pretty unlikely.” I don’t. As Will says, there’s got to be a cost-benefit calculus behind Romney’s stonewalling, and I can’t think of a better one.
2. LOL! Romney testifying against Romney - It's just too surreal...
From MotherJones: "Yet evidence has emerged that undermines this claim and that suggests Romney may have made a false statement on this disclosure form (which would be a potential felony punishable by a $50,000 fine and up to a year in jail). Now there's another indication that Romney's break with Bain wasn't so clean—and this is according to Romney himself. Last week, the Huffington Post reported that Romney, in sworn testimony during a 2002 Massachusetts hearing to determine if he met the residency requirement to run for governor, declared that he had remained on the board of a company in which Bain was an investor."
Mitt Romney's campaign is still wrestling with when he left Bain Capital. Over the weekend, they tried saying he "actually retired retroactively."
Note for the rest of us: Don't try that at home.
What could he be hiding?
Well, Mitt Romney is endorsed by George Bush and Dick Cheney. He was/Is considering Rice for a VP position. Basically, within a degree or two, all of Romney's choices for office are people connected to the last administration. This is a partial list of the activities that the last administration engaged in (and where Romney could have easily gotten illicit money from which he is probably hiding because he doesn't want to go to jail)...
1. Notice in the comedy segment below, a big scandal coincides with a report about oil drilling issues by the department where the scandal originates, i.e. Interior Department's 'minerals management service', still ...the GOP is not fazed in the slightest!
Some news reports of extreme corruption in the Department of the Interior;
Sex For Oil Scandal At Interior Department (CBS/ AP) Government officials handling billions of dollars in oil royalties engaged in illicit sex with employees of energy companies they were dealing with and received numerous gifts from them, federal investigators said Wednesday. The allegations of bad behavior involve 13 government employees in Denver and Washington, reports CBS News investigative correspondent Sharyl Attkisson. Those accused are workers who sell U.S. mineral rights to oil companies. Such sales are one of the government's biggest sources of revenue besides taxes. But the Inspector General for the Interior Department says they rigged contracts, and engaged in illegal moonlighting, drugs, sex and gift-taking from oil company representatives, according to three reports released Wednesday. The reports revealed startling allegations including that an employee attended a so-called "treasure hunt" in the desert with all expenses paid by an oil producer, and that a former supervisor - who bought cocaine from a colleague then boosted her performance award - had sex with subordinates, and steered government contracts to an outside business where he also worked, Attkisson reports.
Romney's Numbers Skyrocket After Prostitute Reveals She Paid Him To Sleep With Her
Watch The Video
Days Before Scandal, Interior Got Ethics Award Oh, the irony. Just before the Department of Interior's inspector general released reports that laid bare the oil-and-sex scandal in the department's oil royalties office this week, Interior won an annual award from the federal Office of Government Ethics, The Post's Mary Pat Flaherty and Derek Kravitz report. The inspector general said Wednesday that federal officials in the Mineral Management Service's royalty-in-kind program allegedly were plied with alcohol and expensive gifts from industry representatives, and in some cases had sex and did drugs with them. The Denver-area office takes in roughly $4 billion each year in oil and natural gas reserves from companies drilling on federal and Indian land and offshore.
Billions Missing From U.S. Indian Trust Fund In his testimony before Congress, John Echohawk, director of Native American Rights Fund, called it "yet another serious and continuing breach in a long history of dishonorable treatment of Indian tribes and individual Indians by the United States government." Arizona Senator John McCain, the chairman of the Senate Committee on Indian Affairs, bluntly called it "theft from Indian people." These men were describing the single largest and longest-lasting financial scandal in history involving the federal government of the United States. With no other recourse left at their disposal, NARF, along with other attorneys, filed a class action lawsuit in federal district court on June 10 on behalf of more than 300,000 American Indians. The suit charges Secretary of the Interior Bruce Babbitt, Assistant Interior Secretary of the Interior for Indian Affairs Ada Deer and Secretary of the Treasury Robert Rubin with illegal conduct in regard to the management of Indian money held in trust accounts and managed by the Bureau of Indian Affairs. If the lawsuit's claims are correct, and there's an overwhelming body of evidence that suggests they are, then the federal government has lost, misappropriated or, in some cases, stolen billions of dollars from some of its poorest citizens.
2. The Cheney-Bush Created "Solyndra Scandal"...
Note: 4 mins and 30 seconds into the video above you discover that a report actually shows that this project would run out of money this September of 2011, i.e. it was written on paper that this project wasn't feasible.Energy-related loan guarantees arose from the stimulus legislation of 2009. Policy makers thought a huge infusion of low-cost loans would create many thousands of jobs at solar- panel factories, alternative-energy power plants and the like. There was an implicit assumption that most of these ventures would succeed. Barring fraud, Solyndra’s failure reflects the company’s bet on an inadequate technology. Its tubes, coated with an unusual four-metal compound, were supposed to cut power costs more than 20 percent. That wasn’t nearly enough. Production costs fell much faster for a rival technology, conventional flat silicon panels, and Solyndra couldn’t compete.
The Energy Department’s loan guarantee program is the real Solyndra scandal
You can call it crony capitalism or venture socialism — but by whatever name, the Energy Department’s loan guarantee program privatizes profits and socializes losses. It’s an especially risky approach in the alternative-energy space, where solar energy is many years from being cost-competitive with fossil fuels for most uses — and history is littered with failed government attempts to back the next big thing.
Exclusive Timeline: Bush Administration Advanced Solyndra Loan Guarantee for Two Years, Media Blow the Story
It’s often claimed that the Solyndra loan guarantee was “rushed through” by the Obama Administration for political reasons. In fact, the Solyndra loan guarantee was a multi-year process that the Bush Administration launched in 2007.
You’d never know from the media coverage that:
The Bush team tried to conditionally approve the Solyndra loan just before President Obama took office.
The company’s backers included private investors who had diverse political interests.
The loan comprises just 1.3% of DOE’s overall loan portfolio. To date, Solyndra is the only loan that’s known to be troubled.
Because one of the Solyndra investors, Argonaut Venture Capital, is funded by George Kaiser — a man who donated money to the Obama campaign — the loan guarantee has been attacked as being political in nature. What critics don’t mention is that one of the earliest and largest investors, Madrone Capital Partners, is funded by the family that started Wal-Mart, the Waltons. The Waltons have donated millions of dollars to Republican candidates over the years.
3. But the above is just the tip of the iceberg...
Oil Industry and Government connections
Solyndra Scandal: 5 More U.S. Energy Scandals
2005: Halliburton and Iraq: The Texas oil giant reportedly overcharged $108 million for work in Iraq, but reports didn't leak until after the 2004 election. Former Vice President Dick Cheney, who was once chief executive, came under fire for his connection to the company. Nonetheless, Halliburton continued to be awarded government contracts, such as in 2006 when subsidiary Kellogg Brown & Root received a $385 job to build immigration detention centers in the U.S. for the Department of Homeland Security.
Over the last eight years, President Bush, Vice President Cheney and their Republican allies in Congress have fallen over themselves to give oil companies huge tax breaks. They have repeatedly blocked meaningful progress toward energy independence and they have shown no interest in taking on the unchecked speculation that has created extreme volatility in energy markets and pushed oil and gas prices upward. Yesterday, addressing the U.S. Chamber of Commerce, Vice President Cheney said, "We have to recognize that there isn't anything out there that is going to get us away from a hydrocarbon economy anytime in the near future. There really isn't anything on the horizon that today is economic, relative, for example, to basic, good old oil and gas." Not surprising coming from an oil man, and the man who sat down with oil company lobbyists behind closed doors to write the current failed policy. But those remarks show the bankruptcy of the Republican vision on energy. It's a vision of the status quo, invested in the problem, not in finding a solution. And it just doesn't cut it.Note: A closed door meeting on a ‘failed’ policy that put Halliburton at number one and helped Exxon have the largest profits EVER. I wonder how many other failed policies have helped the oil companies?The following is from an old book called Unequal Democracy“The recession of 1974-1975 was triggered by a massive oil price shock engineered by the Organization of Petroleum Exporting Countries (OPEC). The real price of oil increased by 140% in 1974, throwing the industrial sector of the United States and other advanced economies into a tailspin. Accidental president Gerald Ford entered the White House in the midst of a major economic crisis not of his own making.
Scientists and economists have been offered $10,000 each by a lobby group funded by one of the world's largest oil companies to undermine a major climate change report due to be published today. Letters sent by the American Enterprise Institute (AEI), an ExxonMobil-funded thinktank with close links to the Bush administration, offered the payments for articles that emphasise the shortcomings of a report from the UN's Intergovernmental Panel on Climate Change (IPCC).Dobbs: "We have to consider what else happened in the markets and that is precisely as most of the experts had suggested, once the executive ban on oil drilling offshore had been lifted, we have seen a huge decline of approximately 13 percent decline in the price of crude oil and gasoline prices actually begin to roll back over the course of 11 days, which is remarkable, isn't it?"
Schneider: "It is certainly remarkable. And the vast majority of Americans do support offshore oil drilling. They support anything, anything that will give them relief from high gas prices." Lou Dobbs Tonight, July 29, 2008 No experts said any such thing. For obvious reasons. "[Bush's] move to end the moratorium, in place since 1992, won't have any effect until a separate congressional prohibition expires or is overturned," said The Wall Street Journal on July 15. Instead, analysts "point to two distinct trends that may take the wind out of this year's price spike: an easing of tensions over Iran and evidence that demand for oil in the U.S. is falling faster than many believed."(The Wall Street Journal, July 18, 2008)
Senator Pete Domenici, R-N.M, has relayed the mixed message of "we feel your pain" (at the pump), while attempting to justify his party's blockage of a windfall profit tax on Big Oil by saying that increased taxes on oil companies would be something Americans wouldn't want. [Note: Which Americans?]"Americans are furious about what's going on," declared Sen. Byron Dorgan, D-N.D., and want Congress to do something about oil company profits and "an orgy of speculation" on oil markets.
"If you don't tell the big oil companies they can no longer run energy policy in America, we will not succeed, plain and simple," Sen. Charles Schumer, D-N.Y., told CBS Radio News.
CONCLUSION: Could this be possible...
Romney Comes Clean, Admits He Made $32 Trillion In 2006
BOSTON—In an effort to make a full disclosure of his professional and financial records following discrepancies over his stewardship of Bain Capital, Republican presidential candidate Mitt Romney admitted Monday that in 2006 he personally made $32 trillion. "It has never been my intention to mislead anybody about my financial history, and so I think it's important for me to reveal that I made roughly $30 trillion dollars in 2006, with various contractual bonuses pushing that total closer to $32 trillion," Romney told an assembled press corps, adding that his 14-figure net income was accurately represented on his 2006 tax return. "I also made $28 trillion dollars in 2007. And another $32 trillion in 2008. The fact is, I am a trillionaire many, many times over, and I don't want anyone to think I haven't been completely honest and transparent about that." The former Massachusetts governor also took the opportunity to reveal that he is currently serving on the directorial boards of 483 Fortune 500 companies.
Sure, why not. This is what we know about FED loans so far...
Ann Romney's Role (set him up to look good and help hide his gaffes & lack of policy explanations)...
Extension for this trick: "These are NOT the taxes you are looking for" Mitt Romney & Karl Rove...
The Paul Ryan EXOPOSOTHON Link Ring...
The MITT ROMNEY EXOPOSOTHON Link Ring...
Rick Santorum's Personal Link Ring...
On Fox News...
1. Bill O'Reilly Defends His Nazi Analogies.
2. 24 Hour Nazi Party People.
3. Glen Beck's Nazi Tourette's Syndrome.
Moment Of Zen: Glenn Beck agrees with the CIA... that Osama should attack America!!!!
"Advance, and never halt, for advancing is perfection. Advance and do not fear the thorns in the path, for they draw only corrupt blood." Khalil Gibran (Khalil Gibran was a Catholic Christian from Lebanon)
On My "Rhetoric": Everything in my blogs is proven. You want rhetoric based on lies then you can go back to the arguments between the Founding Fathers. You can't touch my proofs.
1. Founding Fathers arguing in context of today's politics...
The only thing different this election is Mitt Romney using Newt Gingrich's tactic when Newt gets caught lying, i.e. you're getting mean be polite! Well, the founding fathers didn't do that. Let's see if Mitt Romney can handle truthful attacks against his outright and proven lies (see above).
2. Mitt Romney's Is Using Divisive politics like when he endorsed Scott Walker who divided his State so badly he went through a recall election - He was doing the opposite of Ronald Regan too! (i.e. Mitt is DEFINITELY using Frank Luntz - see video of Frant Luntz above)