Romney worth up to $264 million; earned up to $68,000 per speech before campaign

[alp227]

Source: The Washington Post

Republican presidential hopeful Mitt Romney, who made part of his fortune as co-founder of a private equity firm, and his wife have personal financial assets worth as much as $264 million, according to disclosure documents filed Friday.

The records suggest that Romney may have seen a small, but limited, drop in wealth during one of the nation’s worst economic downturns, with a maximum asset value about 8 percent lower than what he reported during his first White House bid in 2007.

The numbers underscore an issue that poses both a benefit and a challenge for the former Massachusetts governor, who points to his business experience as evidence of his ability to lead the country.

But Romney, who grew up in a wealthy family before expanding his fortunes at the Bain Capital equity firm, also has struggled to portray himself as a candidate in touch with the lives of regular voters.

Read more: http://www.washingtonpost.com/politics/romney-worth-up-to-264-million-earned-up-to-68000-per-speech-before-campaign-start/2011/08/12/gIQAj1fYBJ_story.html

[Sal Minella]

1. The verb "earned" implies he did something to deserve the money.

He "was given" $68,000 per speech, perhaps, but I can't conceive of anything coming out of his mouth that would be worth $68,000 to a sane person.

[ATLdemocrat]

11. In his defense

It takes a lot of training to speak from one's anus as he does.

[Sal Minella]

12. Indeed.

But apparently having $200M plus in your personal bank account gives one the prerequisite arrogance to get by with it.

[Bryn]

2. No wonder he thinks of corporations as a person

Another wealthy person trying to get The White Country Club House.

[wordpix]

3. Mitt Offshore Tax Haven makes a bundle helping his buds evade taxes

http://thinkprogress.org/politics/2011/04/12/157766/mitt-romney-tax-havens/

Romney Founded Business That Utilized Offshore Tax Havens, Costing Taxpayers Billions In Lost Revenue

By Travis Waldron on Apr 12, 2011 at 9:55 am

Former Massachusetts Gov. Mitt Romney (R) took the first step toward launching his presidential campaign yesterday, touting his business experience and record as governor in a clear attempt to position himself as a pro-business alternative to President Obama. He made no mention, however, of Bain Capital, the company he founded in 1984.

However, while Romney often cites closing corporate tax loopholes in Massachusetts to balance the state’s budget as among his biggest successes, he simultaneously owes some of his personal wealth to the fact that the company he helped start took advantage of offshore tax havens to shield investors from having to pay American taxes. (Romney was the wealthiest of all presidential candidates in 2008, boasting a personal fortune of nearly $250 million and spending $45 million of his own money during the 2008 primary.) As the Los Angeles Times reported in 2007:

Romney gained no personal tax benefit from the legal operations in Bermuda and the Cayman Islands. But aides to the Republican presidential hopeful and former colleagues acknowledged that the tax-friendly jurisdictions helped attract billions of additional investment dollars to Romney’s former company, Bain Capital, and thus boosted profits for Romney and his partners.

http://www.latimes.com/business/la-na-mittoffshore17dec17,0,3457481.story

Island tax havens factor into Romney's business success

Offshore dealings like those of the Republican presidential candidate trouble many, but they're legal.

By Bob Drogin
Los Angeles Times Staff Writer
December 17, 2007
BOSTON— Second of two parts

-- While in private business, Mitt Romney utilized shell companies in two offshore tax havens to help eligible investors avoid paying U.S. taxes, federal and state records show.

Romney gained no personal tax benefit from the legal operations in Bermuda and the Cayman Islands. But aides to the Republican presidential hopeful and former colleagues acknowledged that the tax-friendly jurisdictions helped attract billions of additional investment dollars to Romney's former company, Bain Capital, and thus boosted profits for Romney and his partners.

Romney has based his White House bid, in part, on the skills he learned as co-founder and chief of Bain Capital, one of the nation's most successful private equity groups. His campaign cites his record while governor of Massachusetts of closing state tax loopholes; his involvement with foreign tax havens had not previously come to light.

[NICO9000]

4. He said at their joke of a debate that we should get rid of unemployment insurance

And this kind of talk is supposed to appeal to whom? This guy is one of the phoniest pieces of shit I've ever seen, although I'm sure Gov. Goodhair will give him a run for his money in the phony baloney department.

[Hotler]

5. Wow! People would actually pay money....

to hear that fucker speak.

[KT2000]

6. Did Bain move

any jobs to China that were US jobs when they purchased them?
That is what private equity firms usually do.

[wtmusic]

7. “Corporations are people, my friend.”

I just saw a corporation walking down the sidewalk. It had a tangle of hair and no job and two handfuls of plastic bags with what most people call "garbage" in them. It was in torn clothes which probably once weren't the color of dirt.

Sure Mitt.

[MADem]

8. Sixty eight grand per speech? No wonder that asshole thinks corporations are people, hell, he

thinks they're all sugar-daddies!

[sarcasmo]

9. Is there a shirt that says Mitt hearts Corporations?

[ATLdemocrat]

10. $68,000 to talk

And yet say nothing.

[TomCADem]

13. You Can See Why He Is Wall Street's Favorite. He's One Of Them

After the Democrats enacted financial reform, which includes a Consumer Protection Agency, Wall Street is eager to turn to the former head of private equity firm Bain Capital to once again deregulate.