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There has been much speculation on Romney’s historically unprecedented refusal to release more than two years of tax returns. Romney, who also refused to release any tax returns in his 2002 run for governor, seems to be acting on some mysterious principal that his tax return is sacred script, never to be made public. But the more strident his refusal becomes, the more curious the public becomes in wanting to know what he is hiding that would be so devastating to his campaign that he is willing to be dogged by this for the rest of the campaign.
I have to admit, as an owner of a small IRA account, I am intrigued that Romney has over one million dollars in his IRA account, a feat that is financially impossible to accomplish within the context of IRA rules. The path Romney followed through the ticket of the tax code to get around those rules most certainly is only available to the very, very wealthy. And that is the crux of Romney’s tax return problem. His returns provide a window into how the tax code is used to protect the exceptionally wealthy at the expense of everyone else. Romney has said many times that he pays everything he is legally required to pay, but what he won’t say is that there are different sets of rules for what is "legally required," one which favors people with immense wealth, and a different set for people like me. Romney also won’t say that as president, he will be the one who decides what is "legally required."
It is an issue of fairness. No tax system will be considered fair and supported by the public when the rules are not the same for everybody or when the rules are being written by individuals who are either owned by special interest groups or are beneficiaries of the very rules they are writing.
And that is where trust comes in. There are going to be big changes in our tax system in the next few years. Should we entrust those changes to an individual who gleefully signed a pledge to Washington lobbyist, Grover Norquist, agreeing never to raise tax revenue no matter how dire the fiscal health of the country, to an individual who has Swiss bank accounts, Cayman Islands accounts and other offshore holdings whose sole purpose is the sheltering of taxes? Should we entrust the changing of our tax policy to someone who seems to think the sole duty of the office of the President is to make certain that corporations and the very rich pay as little taxes as possible?
The Urban-Brookings Tax Policy Center report graphically illustrates how successful Romney’s tax policy would be in redistributing the wealth upwards and in punishing the middle class and working poor.
Romney aides claim that Romney’s economic and tax policies would be George W. Bush on steroids. Enough said!
Ron Kurowski
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Juvenal
10:21 am on Thursday, September 6, 2012
There is no legal requirement for a candidate to disclose tax returns, school grades & papers, or SAT & LSAT scores. Surely the intellectual horsepower of a candidate is at least as relevant to a voter as his or her personal finances --yet the academic records of the first AA president of the HLR are locked down tighter than a drum......
Bob
5:58 pm on Friday, September 7, 2012
Anyone who buys into the birther and other document hoaxes needs professional help. It is a diversion to keep you from asking questions like "Did Romney illegally shelter income for years and then take advantage of the 2009 tax amnesty?"
Our President's grades got him into Columbia and Harvard Law School where he was editor of the Law Review. Something tells me that his grades were just fine.
Juvenal
8:58 am on Saturday, September 8, 2012
His "grades" got him into the Ivy League> You really think so? The Columbia Commencement Program indicates he did not graduate with any level of Honors. That's actually hard to do in the social sciences at the notoriously grade inflated Ivy League schools.
OakLawnBill
10:49 am on Monday, September 17, 2012
I remember when Republicans used to think before speaking and use actual facts. Rush Windbag is not a source of reliable information. Obama graduated from Harvard magna cum laude with a JD degree. Rush would not know that it means Obama graduated with academic great honor. Rush's mommy said he was too dumb for college.
Bob Laird
10:40 am on Thursday, September 6, 2012
Well, at least we know that he knows HOW to generate and maintain revenue. Isn't that what were looking for? We know that all politicians are crooks and liars, let's at least put one in the palace that knows how to make money, not just spend it.
LADY EAGLES #1 FAN
10:24 am on Friday, September 7, 2012
Generate and maintain money only for himself is not what we're looking for! He was a great business man who shipped labor oversees to pay less and make more. He was never a job creator! He's a rich man who has manipulated the system like many 1%er others and avoided paying the appropriate amount of taxes. Was it legal....yes. Does that make it right....no! The people who manipulate the entitlement system do the same thing. All people need to be accountable and pay their fair share!!!!
Tired of the B.S.
2:39 pm on Friday, September 7, 2012
Teammate,
Let's take a look at some of the records for these two gentlemen. I'll post some for each and you decide which one you would like to handle YOUR finances.
Romney
While running Bain Capital he invested private money in:
AMC Entertainment
Burger King
Burlington Coat Factory
Clear Channel Communications
Dominos Pizza
Dunkin Donuts
Guitar Center
The Sports Authority
Staples
Toys R Us
Warner Music Group
President Obama
While running our country invested taxpayers dollars in:
Solyndra
Ener 1
Beacon Power
Abound Solar
Amonix Solar
Spectra Watt
Eastern Energy
So, what's my point?
All the companies listed that Romney invested in are currently employing Americans throughout our country.
All the companies listed that President Obama invested in are not employing anybody because they are bankrupt. They have another thing in common, they were all Obama Campaign contributors.
Stones
11:03 pm on Friday, September 7, 2012
He also invested in GM and Chrysler, both of which are still alive. Please use all the examples since it's unlikely that all of Romney/Bain companies succeeded and kept jobs here. The same as all of the companies President Obama and President Bush supported through TARP failed.
Phillip R Baggs
6:34 am on Saturday, September 8, 2012
Both Chrysler and GM filed for bankruptcy
Jay Hutchens
9:45 am on Monday, September 10, 2012
Get your facts straight, GM and Chrysler are having record profits and are still here because of the bailout.
There plenty examples of how Bain under Romney made their money and bankrupted plenty of companies.
• Ampad, Bain used only $5 million of its own money to seize American Pad and Paper, funding the rest of the takeover with loans that saddled Ampad with $60 million annual debt repayment. Bain charged Ampad $7 million in management fees. "Ampad wound up going bankrupt, and hundreds of workers lost their jobs. Bain and Romney made more than $100 million on a $5 million investment."
• KB Toys -- "Bain put up a mere $18 million to acquire KB Toys and got big banks to finance the remaining $302 million it needed," the article says. Soon afterward, as new manager of the company, Bain pulled a "dividend recapitalization" that gave $83 million to Bain investors, including Romney. "Bain added $300 million debt to the firm's bottom line while taking out more than $120 million in cash -- an outright looting." KB Toys went bankrupt and its jobless employees got no severance pay.
•Ironically, Romney is campaigning strongly against government debt, yet he used debt as his chief mechanism to gain control of corporations.
Source: Rolling Stone magazine expose titled "Greed and Dept: The True Story of Mitt Romney and Bain Capital."
John Paul
10:03 am on Monday, September 10, 2012
When Bain uses debt in its businesses, the money is from private investors and private banks, all of whom chose to participate in these ventures. When the governmnet does it, its our money and we don't get to chose. GM and Chrystler could have gone the normal bankrupcy route without government money and emerged in better financial shape, as many other companies have done. Bankrupcy does not mean that a company disappears. These companies were done in by their legacy costs that could no longer be absorbed in the price of their cars. Obama wasn't trying to save GM, he was trying to get the best result for the UAW. With our money.
Chronicles of Bob
10:54 am on Monday, September 10, 2012
John its amazing what you choose to know.... yes,bain has investors. Who's only objective is to make $$. There is nothing wrong with that objective. However, if closing down a company means maximize profits they will do it. What ever motive you feel the bail outs had it still kept many working.
Carolyn Ellis
7:01 pm on Thursday, September 6, 2012
I believe there is nothing further to learn from additional tax returns. As far as I can tell he has complied with the Tax Code an is entitled to take advantage of all its loopholes -- and is anyone else who can find a rule that gives them an advantage. Special interests have caused the Tax Code to become an impenetrable thicket of arcane rules that give advantage to the few. This s not the fault of Romney -- or Hollywood celebreties, sports figures, Warren Buffet or Bill Gates., etc. They are living under the rules out government has set forth and if they gain an advantage, well good or them. As for Buffet's protestations about his perception that he is unfairly advantaged over his secretary -- well there is absolutely nothing to prevent him from writing a check to the U.S. Treasury to correct the inequity. Anything else is pure sophistry on his part. It comes down to whether he believes that by following the letter of the law that he is fogiven if he fails to follow the law's spirit. As for Romney, I believe that if his tax payments and charitable contributions are totaled, he and his wife are contributing their fair share to society. It's just that he is able to direct the flow of his cotributions to society according to his viewpont, whereas most taxpayers simply have their contribution confiscated by the government and spent with little or no care to personal inerest
Bob
6:04 pm on Friday, September 7, 2012
As far as you can tell? You can't tell jack squat from what he has released and that is the problem.
Here is a fact for you while you repeat what you've been told to think. We are $15 Trillion dollars in debt in this country. There is currently $20 to 30 Trillion dollars in accounts in offshore tax havens avoiding taxes.
Wake up and straighten up. You've been bent over and don't even know it.
Phillip R Baggs
6:35 am on Saturday, September 8, 2012
Bob, ever hear of the IRS? If you don't believe the government can police the tax code, you are in the wrong party.
OakLawnBill
10:53 am on Monday, September 17, 2012
What a load of hooey. Romney has consistently supported tax breaks that are in his economic favor. Buffett, Gates and many of those Hollywood types ( except Eastwood?) are promoting policies not in their favor to line their own pockets at the expense of the country.
Tim Pursell
3:59 am on Friday, September 7, 2012
Were I in a income bracket near Romney I'd trust him, but since I'm with 95% of the population that falls well below that, not so much.
I don't knock the guy for the amount of taxes he paid. Everybody knows the tax code is is so convoluted that us average citizens can never understand it. I do, however, knock the tax code itself and those who created it. Do I trust Romney to correct any of those loopholes that allow him and those in his bracket to pay lower percentages of their income than the rest of us? NO.
Arthur Huff
12:29 pm on Friday, September 7, 2012
I'll vote for the first person to fix the "loophole" that allows half of the country to pay 0% or less.
Ray Blah Blah Blah
9:56 pm on Saturday, September 8, 2012
Arthur - expecting everyone to pay something, that's elitist, classist, and racist
Steve
8:04 am on Friday, September 7, 2012
Take the time to see "Obama's America 2016" and learn all you can about both men. So many people do not learn enough to make a good selection.
Innocent Bystander
8:32 am on Friday, September 7, 2012
I saw it and believe you are a creature of your environment and the apple don't far from the tree. There are no coincides and facts are facts I believe the President was the one who took God and Jerusalem out of the democratic Party Platform. 2016 shows some scary implications that everyone should be aware of before voting. There was an eerie feeling in the air walking out of the theater that day.
SouthSide
9:25 am on Friday, September 7, 2012
The movie is ridiculously biased, full of opinions. For God's sake, don't vote based on this movie!
MOKENA VOTER
9:37 am on Friday, September 7, 2012
Lingle, I'll assume you're OK with my opinions of GW Boosh based on Michael Moore's movie? And, i'll assume your second sentence is aimed at your fellow Teebaggers.
Chronicles of Bob
1:04 pm on Friday, September 7, 2012
Oh, Mokena Snap!
Bob
6:05 pm on Friday, September 7, 2012
A person who buys into propaganda slime says what?
SouthSide
9:29 am on Friday, September 7, 2012
The fact that Romney stashes cash outside the U.S. is very telling: therefore, no need for the tax returns. Voters know he doesn't respect our nation, or the majority of the humans (don't get me started on other earthlings) who occupy our nation. He only respects super rich white men who are Christian in Name Only, no one and nothing else.
Phillip R Baggs
6:37 am on Saturday, September 8, 2012
Obama borrows money from China.
vicky
2:06 pm on Saturday, September 8, 2012
So does Nancy Pelosi & Debbie Wasserman Schultz & a whole list
of other Democrats. These people make me want to throw up- total hypocrites.
And don't give me the line they're not running for President, getting old.......
Chronicles of Bob
11:15 am on Friday, September 7, 2012
I know this is a dead horse, but Romney was heavily backed by karl roves war hawks and won the nomination. Despite the fact implementing the same basic healthcare reform as so many bash obama for. Why is this? Can it be because he is most eaisly controlled? Newt wasnt gonna be controlled. Santorum was unelectable. Even if we are truly not better off than 4the years ago, despite the fact obama wasnt president 4 years ago.... why go to back to the policies that destroyed everything.
Arthur Huff
12:34 pm on Friday, September 7, 2012
All of these articles and all the posts that follow them always make me think the same thing: we need more political parties. The system is designed so that we can only select from one of two people and that is ridiculous. The debate is so tired that I am beginning to lose interest. My guy, or your guy...left, or right.....Republican, or Democrat....red state, or blue state.....
If enough people participated in this discussions, if you can call them that, we could have a million reasons why Romney is bad and a million reasons why Obama is bad. And guess what, at the end of the day you would all probably vote for who you were going to vote for in the first place.
Chronicles of Bob
12:58 pm on Friday, September 7, 2012
Arthur,
Youre right on point with most of what you say. It is tiresome, and in the end most heads don't get turned. However, to be dvils advocate. Say you have 3 or 4 or 5 parties. Take your pick. Then what you get is the majority fails to get represented. A perty with 25-30% of the vote and with radical ideas can slide in and win. The majority, who may have similar ideas lose. Then we have major problems,
I don't have the answers,,, Just more questions
Arthur Huff
1:01 pm on Friday, September 7, 2012
That's a good point I suppose
MOKENA VOTER
8:46 am on Monday, September 10, 2012
Arthur, what if we took all the money out of politics and let the politicians be free to do the right thing? Also, limit all politicians to a single six year term.
Juvenal
12:46 pm on Friday, September 7, 2012
Anyone who itemizes deductions (mortgage interest, property taxes, etc) is taking advantages of "loopholes" to lower their tax liabilty. For Romney to seek to minimize paying taxes which he consistently claims are too high, and that pay for a government he consistently attacks as too large, is perfectly consistent. The president claimed over $373,000 in itemized deductions on his 2010 taxes, which probably lowered his tax bill by $100,000 or so. Isn't HE the one saying folks like him (his AGI was still over $1.3 million) should pay a little more?
Chronicles of Bob
1:03 pm on Friday, September 7, 2012
Yes, Obama has admitted he would pay more and said he has no issue with it. Me, I have little trust for a guy that puts money over seas to avoid paying taxes to his country, while waving his flag. Then for his wife to say "we don't even know what's in there."...
Juvenal
3:27 pm on Friday, September 7, 2012
He "would" pay more? He "can" pay more (Lord knows the US treasury cashes every check I send them, even if it's too much) but doesn't - because he is not legally required to. You don't "trust" Romney but at least HIS actions and rhetoric are consistent....
Denise Du Vernay
10:55 pm on Friday, September 7, 2012
Juvenal,
I'd like to point out that for something to be a loophole, there must be ambiguity that can be taken advantage of. There is nothing ambiguous about the 1040 tax guide which gives instructions on how to itemize (with a requirement to get help if needed) and also instructs taxpayers intending to itemize to also figure their taxes using the standard deduction in case their tax liability is lower with the standard deduction. (So which is the loophole there?)
Also, don't you think it's a bit unfair to judge the President on his taxes when we can't even see the other guy's in order to pass judgment? And while Romney seeking to pay as little as possible in taxes is consistent for a person who doesn't like to pay his taxes, it's certainly not consistent for someone who seeks a government job, has worked a government job, and whose parent worked for the government. I'll never understand the Right's mantra that government is terrible, politicians (and lawyers, for that matter) are corrupt and evil. They want us to hire them to work for an organization they detest (or at the very least, that don't believe in), to take a job they don't respect in order to work with people they respect even less, and be paid out of a system they dislike so much that they will do whatever it takes to avoid paying into it.
Juvenal
8:11 am on Sunday, September 9, 2012
Point is that one person's loophole is another person's deduction. Where to draw the line-- IRA's (parking money in a tax free account) buying municipal bonds (no fed tax on earnings)? Rich people have more incentive to engage in tax planning and they all do -- including Mr Buffett et al. While the rhetoric suggests that fiscal conservatives hate government it would be more accurate to say that they recognize that there is an inevitable tendency for government to grow and expand, which is not limited by any market forces. This tendency is especially pronounced in the US because the perception of our strength means that we can always find "investors" who will buy our debt. The US government is the most indebted institution in world history; no entity has ever been $16 trillion in the hole before. You could never tax your way out of that hole, not even if you taxed the 1% at 100%. Conservatives understand that, liberals just want to give away more free stuff to constituencies that they can count on to vote for them -- the Chicago Machine school of politics. It works great in the short term, but in the long term.....
Arthur Huff
12:48 pm on Friday, September 7, 2012
To the writer of the article: You wrote that "No tax system will be considered fair and supported by the public when the rules are not the same for everybody..."
Are you in support of a flat tax system? Would you support a system that asks the guy making $50,000 a year to pay the same percentage in federal income tax as the guy making $500,000? If so, then I'm with you 100%. However, I suspect you would not favor that system, even though you write that it is "an issue of fairness."
South Suburban MoveOn Council
2:06 pm on Monday, September 10, 2012
Arthur, by your question you obviously believe a tax system with varying rates based on income levels is inherently unfair. I do disagree with you on that and would also point out that a strong majority of Americans support a progressive tax system and have historically done so. And I would add that there are practical and economic reasons why an income tax system needs to have some progressiveness in it. The question should be how progressive.
The idea of a flat tax system where everyone pays the same rate can be appealing. But there are a lot of problems going to a flat tax system. Should all deductions be dropped or do we keep popular ones like the mortgage interest deduction and the child credit; should there be any exemptions? What should be considered income? Should capital gains dividends be considered income? What about tax-free municipal bonds? Once you start making those decisions the apparent fairness of everyone paying the same rate disappears. You would end up with a tax system where the rate for everyone is the same but not the rules.
Arthur, you also questioned why so many people don't pay income taxes. Actually they do. Everyone who has earned income pays FICA taxes on that income.
Ron Kurowski
Billable Hours
4:00 pm on Friday, September 7, 2012
Tired of the BS....Romney's refusal to be held responsible for the actions of the company he owned and for which he remained CEO, Chairman and President says a lot about the kind of President he would be and a lot more about his character. Romney was happy to make millions of dollars from the company he owned. He was happy to take credit for the "jobs he created." But he refuses to take responsibility for the lives his company destroyed, or the fact that in some cases he loaded up companies with debt and bled them dry to pay his own fees before he put them into bankruptcy and fired their employees. Romney cashed Bain's checks and sometimes he apparently deposited them in Swiss Bank accounts, but he refuses to take responsibility for the fact that the firm was as the Washington Post called it a "pioneer of outsourcing."
Billable Hours
4:02 pm on Friday, September 7, 2012
This is a guy who plays by a different set of rules than ordinary people, and the last thing he wants to do is allow those ordinary people to see first hand how he did what he did by disclosing his income tax returns from the years he was active at Bain. Some of the companies he acquired at Bain did well, but others went under. But win or lose, Romney always made money. Workers may have lost their livelihoods and pensions. Small businesses that served as suppliers to his companies may have gone under. But Romney always came out ahead. Mitt Romney is the kind of guy who is always happy to bask in the glow of success, but is never willing to take responsibility for failure. I'll take my chances with Obama to answer your question. I hate Domino's Pizza BTW!
Tired of the B.S.
4:46 pm on Friday, September 7, 2012
And Obama was successful running....what was that business's name again?
Obama was successful at what level of government?
I really would like for you to point to all of the success that Obama has had, while running anything, if you could.
Don't even try to say something about Bin Laden as his success, that was successful in spite of Obama.
Anything?
If you do take your chances with Obama, you will be just as bankrupt as all the rest.
Denise Du Vernay
10:59 pm on Friday, September 7, 2012
I'm going to point out the obvious that President Obama has almost four years' experience of, um, being President and Mitt Romney doesn't. I'd also like to point out the other obvious point that a country is not a business.
As for the successes that the President has had since taking office, Google it.
Ray Blah Blah Blah
12:25 pm on Saturday, September 8, 2012
Denise - experience does not equal success.
Chronicles of Bob
5:24 pm on Friday, September 7, 2012
Osama, including many other terrorists. How can you say it dosent count?
Pirates...
millions of children and elderly insured
veterans have best benefits than ever before
Iraq troop withdrawl millions saved lives saved
Student loans revamped
pell grants expanded
invaluable foreign policy expiernce. Something romney has none of. Whats romney gonna offer Putin, some dominos coupons?
anthony
5:29 pm on Friday, September 7, 2012
Yea but the seal team should get the reward and tour the nation! How many heros do we have that dont play sports...
Chronicles of Bob
5:44 pm on Friday, September 7, 2012
Whats your point? Of course they get credit... the current anministration gets credit as well... i just answered with a few examples. There are many more.
Homewood Jim
9:40 am on Sunday, September 9, 2012
and $16 TRILLION in debt, 11%+++ REAL unemployment, no Federal budget, and no plans to fix it going forward. Great record if you are an anti-Colonial Socialist, intent on bankrukpting the USA.
Chronicles of Bob
9:17 am on Monday, September 10, 2012
Should we call you sean hannity there Jim...
Billable Hours
5:42 pm on Friday, September 7, 2012
So Obama gets all the blame for the alternative energy companies, but none of the accomplishment of taking out Bin Laden???? Can't have it both ways son! What will another war do to our finances?
Tired of the B.S.
1:39 pm on Saturday, September 8, 2012
Don't ask me, ask Obama.
Better yet, ask the people in Yemen. You know, that country that we are at war with and use drones to bomb.
Wait a second...we are not at war with Yemen, Obama is and he will drag the rest of the U.S. along.
So maybe your question should be taken to the man that is waging war against Yemen...Obama.
Bob
6:07 pm on Friday, September 7, 2012
For the record, this is what Bain stands for
Billionaires
Against
Income Tax
Nuisance
Tired of the B.S.
1:42 pm on Saturday, September 8, 2012
For the record, this is what Obama stands for
One
Big
Ass
Mistake
America
This is fun, what other games ya got.
vicky
2:09 pm on Saturday, September 8, 2012
Good answer "Tired of the B.S.
That about sums it up.................
Tim Pursell
6:36 pm on Friday, September 7, 2012
Romney and consistent should never be used in the same sentence, unless there is a negative in there.
And why is running a profitable business any measure of who will be a better President? Romney was all about lining his pockets, not doing what is best for the citizens he wishes to lead. Running the US government has very little in common with running a business.
Dean Casper
9:49 pm on Friday, September 7, 2012
The job numbers released today showed another 365,000 Americans gave up looking for work in August alone. The economy added only 96,000 jobs in August, 2/3 in retail food service ($10 hour and less). 3.4 million Americans graduated higher education and entered the workforce in 2012. The economy is not keeping up the demand.
16mil additional people on Food Stamps, $5.4Trillion in new debt, 24mil underemployed or worse, average family income down $5000.
And you are worried about a tax return?
Bob
10:59 pm on Friday, September 7, 2012
Your math works great Dean. For 30 years, big business has taken the huge tax breaks they've been given and moved jobs to the 3rd world where people will work for $100-$500 per month with no benefits. No more amount of magical trickle down tax cuts is going to change that.
Putting an outsourcing master and tax cheat in the White House is not going to fix that. Tying all tax breaks to job creation will. Business has 2 trillion dollars in cash reserves and corporate profits are near or at all time highs. Just look at the Nasdaq and S&P 500 if you doubt that.
Here's a simple solution. If businesses don't create jobs, strip them of every tax break they have. IF the only tax cut they can get is by creating jobs, watch them trip over themselves to do that.
Denise Du Vernay
11:10 pm on Friday, September 7, 2012
Ann and Mitt Romney have asked the American people to trust them that there's nothing nefarious about their tax returns (I believe Mitt's exact words were "You're just going to have to take my word for it") but the problem is that Romney showed what his word is worth in 2002 when he was running for governor of Massachusetts and lied about his taxes. He said that he had filed his taxes as a MA resident, when, in fact, he hadn't. He then retroactively filed as a MA resident.
Homewood Jim
9:42 am on Sunday, September 9, 2012
Kinda like Pelosi saying 'we have to pass it before we can tell you what's in it', eh? People in glass houses.......
John Paul
11:59 pm on Friday, September 7, 2012
Is there anything in Romney's tax returns that would make any Obama supporter change their mind and vote for Romney? Why then should he release them? The only people that care about Romney's taxes are Obama supporters looking for dirt. I mean, that's politics, right? When Obama released his birth certificate, did he change anyone's mind? Do you know any birthers who decided to support Obama?
Russ
8:44 pm on Sunday, September 9, 2012
Sooo ,your a Romney supporter and Romney's taxes are revealed finding many illegal activitties or no taxes paid,something really negative and you would still be a Romney supporter,kind of telling isn't it?
John Paul
12:07 am on Monday, September 10, 2012
If Romney did anything illegal, he should go to prison and, no, I wouldn't vote for him. I'm sure that if he did anything wrong, the IRS would have dealt with it. The only way that he could not pay any income taxes in a given year is if he had a loss that year. It's an income tax, so you only pay it if you actually have an income that year. Its not a wealth tax; a person can have losses from investments and still be very rich.
Dinkamoe
9:20 pm on Tuesday, September 11, 2012
The IRS had an amnesty program to not pursue criminal charges for felony tax evasion for not reporting offshore tax income if the tax evaders voluntarily come forward and pay all back taxes, interest, and penalties owed. Criminal charges avoided. My money is betting that this is the main reason Mitt romney is not releasing his tax returns. I am sure there are others too, almost as bad. He would be forced to step down as the Republican presidential nominee. Romystery tax retuns will stay as mysterious as bigfoot and Roswell aliens!
John Paul
12:01 am on Saturday, September 8, 2012
Another point: Obama needs to stop blaming Bush, it makes him sound weak. If the economy was solid in 2008, we'd be discussing whether or not McCain wins a second term.
Billable Hours
7:45 am on Saturday, September 8, 2012
Rrrrrright cuz taking blame for someone else's failures makes you seem so smart! Can you imagine how much more Obama would have won by if he took responsibility for McCain's bad shoulders and baldness? I know....I got goosebumps too!
Tired of the B.S.
1:45 pm on Saturday, September 8, 2012
So if Obama gets re-elected, will he continue to blame the previous administration for his failures?
If he does, it will be true, because the previous administration will be Obama
Billable Hours
5:35 pm on Saturday, September 8, 2012
If the republicans don't stonewall and actually vote in the country's best interest and not their party's interest, then yes Obama and his admin will rightfully be to blame.
John Paul
12:11 am on Saturday, September 8, 2012
Now I'm on a roll. Whether it's Bain or any other business; businesses exist solely for the purpose of maximizing the return for it's investors. Any societal benefits like increased employment or taxes paid are a byproduct of a company's success. When businesses are successful, jobs are created to enable the company to continue to grow and as they generate more income, they pay higher income taxes,
Chronicles of Bob
12:17 pm on Saturday, September 8, 2012
Then a question(s) for you. As Bob stated and I did earlier... If corporate profits are at an all time high... companies like Oil, Insurence are breaking profit records in this "horrible recession".... Then I ask you... Why are they not hiring? Why are they laying off people?
Arthur Huff
1:58 pm on Saturday, September 8, 2012
Thank you for mentioning this John. People seem to think that businesses have some moral obligation to hire people and create jobs. You're right on in saying that hiring workers is a byproduct of making money.
Bob, I am not sure why businesses are doing well but are still laying people off. It could be as simple as "trimming the fat." Say I own a business making widgets. I employ 10 people. Even though business may be booming, if I can somehow make the same amount of widgets, or more, with 8 people then 2 people would be getting laid off. That's just common sense. Because I did not go into business to hire 10 people, I went into business to make money. It may sound harsh, but that is reality.
Chronicles of Bob
3:29 pm on Saturday, September 8, 2012
Yes arthur, you are 100%raili correct. It also adds validity to what im saying. The whole trickle down, lower taxes, lower epa is a bunch of bs. Unless they increase their profit margins because of an increase of production to where it dictates the hiring of more people they wont. All lowering corporate taxes will do is increase deficit. All lowering epa standards will do is hurt the planet.
Bob
10:43 am on Saturday, September 8, 2012
For the last 30 years, those jobs have mostly been created overseas (except at Wendy's, Jimmy John's and Dollar Tree) and those taxes have been avoided because "patriots" like Mitt offshore their profits. THAT is why he can't show us the tax returns.
Here's the math. We have $15 Trillion in debt. They have $20 to 30 Trillion hidden in offshore accounts to avoid/evade taxes.
And the answer, more tax cuts. At this point, the axiom "Fool me once" is what Obama ought to be running on. Republicans have been selling the same trickle down nonsense for 30 years. It doesn't work, except for the ultra wealthy who have bought 70-85% of our politicians. They own the entire GOP thanks to Norquist or another front man. If a Republican even attempts to work with the Democrats or compromise, they replace him with some tea party zombie.
Juvenal
11:25 am on Sunday, September 9, 2012
Capital is like water; it flows to the low points (ie the area where it will get the highest return) The loss of all the "good middle class jobs" is almost solely attributable to the global market: for a couple of decades there, with the rest of the world too damaged by WWII or too backwards to industrialize, we were the world's manufacturer and any uneducated peasant in the US could get a factory job, or job building the factories and the houses for the factory workers. But the market has found out that uneducated factory workers are a fungible commodity and those in the third world are far more cost effective at making things than are US workers, who are somewhat more productive but histroically MUCH higher paid. Romney certainly understands that dynamic; Obama does not. Hate the game, not the player. Only Nixon could go to China.......
Homewood Jim
11:39 am on Sunday, September 9, 2012
Bob, the difference between you and Juvenal is that you think with your heart, and Juvenal with his head. Anyone with a good education in economics can understand that we now have a global economy. Companies still exist to make a profit (which the Socialists/Democrats think is evil). Materials and labor are the ingredients for the goods and services, and enterprises purchase both at the lowest cost in order to generate a profit. I am not happy that I have to compete with labor in Singapore, Vietnam, or China---but it is a fact. The laws of economics are not ones that BHO can repeal or conveniently change with his Executive Orders.
Chronicles of Bob
12:24 pm on Saturday, September 8, 2012
And yes, I know... The more you grow, the more people you hire. (In theory) The problem is, as just mentioned those jobs aren't being created here.
I just love how many simplify it... I love how people like the Koch brothers could be making millions in "these difficult times" and still want epa standards, corporate taxes and regulations lowered! I don't understand how anyone in their right mind can support that for an American company already with great profit margins. Regardless of how you feel about Obama.
These CEO's stand up, in public and admit their main responsibility is to the share holder, not to create jobs!. Yet, the answer is lower epa, and cut taxes... WTF is wrong with you people. THEY WILL DO YOU NO FAVORS.
Chronicles of Bob
12:24 pm on Saturday, September 8, 2012
Lets blow up the rockies... Drill more oil, despite the fact that we are producing more of our own oil now than ever before... You really think if Bog oil can get their oil cheaper that they will send the savings to you and I....?
Ray Blah Blah Blah
2:17 pm on Saturday, September 8, 2012
No one is saying blow up the Rockies.
Ray Blah Blah Blah
12:28 pm on Saturday, September 8, 2012
Professor DuVernay - why do liberals hate WalMart and love Costco?
Denise Du Vernay
8:57 pm on Monday, September 10, 2012
Ray Blah Blah Blah,
My only frame of reference in the Walmart vs. Costco debate is my parents. They have nothing to do with Walmart/Sam's Club (Mom=Tea Party Republican, Dad=Libertarian) but they do like Costco. I think it might be the mini quiches from Costco. They're pretty yummy.
Bob
1:12 pm on Saturday, September 8, 2012
Costco used to pay and treat their employees better than Sam's/Walmart. Walmart employees are the largest group nationwide using Medicaid for health insurance. Walmart loves part time employees because they don't qualify for benefits and Walmart actively fights their workers forming unions. Walmart also has accelerated the importation of goods from China and elsewhere which was a factor in driving the trend that has decimated American manufacturing jobs.
That is why I have a higher opinion of Costco than Walmart. I don't know if that is still true. Treating the worker better. Wow, what an ancient concept.
Ray Blah Blah Blah
2:16 pm on Saturday, September 8, 2012
We are not slaves, no has to work at WalMart. Many WalMart employees like the company. If pay and benefits suck, apply elsewhere. If WalMart cannot meet labor needs they will improve pay and benefits.
Chronicles of Bob
3:34 pm on Saturday, September 8, 2012
Same old nonsence ray.... yet you can never give logical answers.... yes i know no one said blow up Rockies .... was an example. Extreme yes. Explain what opening up the rockies to drilling.... expanding more rigs on the coasts or alaska will do for?
Ima Copp
3:53 pm on Saturday, September 8, 2012
no trust the country organizer obama ton of business experience and foreign know how
Denise Du Vernay
8:48 pm on Monday, September 10, 2012
He does have almost four years' experience being President of the United States. That's something.
Ray Blah Blah Blah
10:51 am on Sunday, September 9, 2012
Obama over his term added a net 300,000 jobs to the economy averaging little of $10/hour and 17,000,000 to the Food Stamp rolls. Only 63% of adult Americans are paying payroll tax, the lowest percentage since 1981, in the wake of the Jimmy Carter disaster. #ObamaFacts
Bob
12:16 pm on Sunday, September 9, 2012
The worst recession since the depression and one party's answer is to make sure that the President doesn't succeed.
If you want to hear an honest (one of the VERY few that are honest) career politicians tell you what the problem is, watch this
http://www.youtube.com/watch?v=Tq1zpHF0J04
Facts matter. Political talking points are often complete bs
Ernie Souchak
3:34 pm on Sunday, September 9, 2012
Bernie Sanders calls himself and indpendent. Most people realize that is code for a communist.
Bob
11:57 pm on Sunday, September 9, 2012
Bernie Sanders is intelligent and honest and exactly what we need in Congress. There haven't been communists in this country even back to the witch hunt days of McCarthy except on Fox news or in other right wing fantasies. You wingnuts would rather be told what you want to hear. It's usually something that plays right into your fears and hatred.
If you know that in the new global economy that capital and jobs go where the costs are the lowest, then you know that the unemployment situation is beyond our control. No amount of tax cuts can make it economically feasilble to create jobs here.
But if we eliminated EVERY other tax break for the top 3% other than job creation, watch how quick jobs will be created. We understand economics just fine. It is not about thinking with your heart. It is about doing the math and being a realist.
If you have another way to create jobs here, I'd love to hear it.
John Paul
12:09 am on Monday, September 10, 2012
According to Wikipedia, Sanders is a self described Democratic-Socialist.
Juvenal
7:24 am on Monday, September 10, 2012
<< No amount of tax cuts can make it economically feasilble to create jobs here.>>
Well there is also the notion of comparative advantage, so it is possible that the things we do best will create new jobs. A very targeted industrial policy could revive manufacturing, likely for high tech assembly - at least in the right right-to-work states. But, the reality is that in a global economy, unskilled uneducated persons here will fare no better than those in the third world going forward. You can accept and manage that reality, or ignore it and give speeches. Eliminate the tax breaks and you are left with the world's highest corporate tax rate, and the exodus of business from our shores will soon be complete.....
Ernie Souchak
8:27 am on Monday, September 10, 2012
"If you have another way to create jobs here, I'd love to hear it."
Elect Romney, reduce the corporate tax rate, use domestic energy resources to become energy-independent, implement the Fair Tax, return the work-component to welfare, repeal Obamacare, implement term limits for all politicians - Federal & State. Too much government is the problem, not the solution - as the last few years have clearly proven.
Ernie Souchak
3:31 pm on Monday, September 10, 2012
Bob, there haven't been communists in this country even back to ....McCarthy??? What is the address of the rock you live under? BHO is a closet communist. Google his two most important mentors (by his own admission!): Frank Marshall Davis and Roberto Unger. He is using the same playbook that he learned from them. WIse up.
Billable Hours
3:58 pm on Monday, September 10, 2012
I'm sorry, can you remind me again what Obama has done specifically during his presidency that makes him a communist?
Chronicles of Bob
4:16 pm on Monday, September 10, 2012
Well obviously billable, then Paul Ryan must be a communist that is also an atheist... I mean the same guilt by association with Ryan's public fondness of Ayn Rand must make him so. Logically of course..
However, if Commrade Obama was a closet communist, then by definition, wouldn't all of his public actions in his life be the opposite of "communism"?
I mean that would be like you being a "closet gay" but publicly grabbing my ass. "Not that it's wrong..."
Billable Hours
4:49 pm on Monday, September 10, 2012
Oh public grab ass sna..............wait what?
Chronicles of Bob
9:13 am on Monday, September 10, 2012
Unless they (Corp's) increase their profit margins because of an increase of PRODUCTION, so much so, to where it dictates the hiring of more people to continue the rise, only then will they ADD JOBS.. . Most likley those jobs will be out sourced. That's a NAFTA issue... It seems as though Perot may have been right.
lowering corporate taxes will increase the deficit and add to their already record level profits.. .
Why in the F do you people think by lowering their costs to do business that they will add jobs and help you people out?????
Lowering epa standards will only hurt the planet and increase their profit margins...
Why do non of these Romney suppioters answer these questions?.
Billable Hours
10:22 am on Monday, September 10, 2012
Oh not rhetorical questions snap!!!
Juvenal
11:17 am on Monday, September 10, 2012
1)Raising corporate taxes (which is what happens when "loopholes" are eliminated without a corresponding change in rates) will simply cause more companies to move more activity overseas to lower tax jurisdiction = US jobs lost
2) Stricter EPA regulations especally on emissions will make moving factorie, etc to China and third world, where there are effectively no emissions standards = US jobs lost AND more, not less, pollution.
Look, the global market is a bitch. Don't shoot the messenger. Any other questions, CBob?
Chronicles of Bob
11:27 am on Monday, September 10, 2012
I need accurate answers
V. Scheurich
10:24 am on Monday, September 10, 2012
Chicago teachers make an average of $79,000.00 per year "plus" benefits. The amount paid to the school system for each child is over $13,000.00, third highest is the nation. You be the judge if public union school teachers are greedy or not. They 'turned down" a proposed contract that would give then a 16% rasise spread out over 4 years (4% per year wage increase).
Rahm Emanuel and his merry tax payers of Chicago and their tax and spend ideology is now center stage..................and laughable.
Chronicles of Bob
10:45 am on Monday, September 10, 2012
How about you get your facts starigt.... thats about the only thing that is laughable. The raises are 3%,2,2,2 over the years... not 16.
Everyone who has covered this has said the primary issues are not salary. Have your opinion, but please know what you're talking about.
Billable Hours
11:30 am on Monday, September 10, 2012
Oh V.S. your facts aren't factual snap!!!!!
Denise Du Vernay
8:55 pm on Monday, September 10, 2012
I find $71,000 when I google . . .
Chronicles of Bob
3:58 pm on Monday, September 10, 2012
Ernie,
What exactly is a "closet communist?"
The Guru
4:18 pm on Monday, September 10, 2012
A communist without a tan.....
Chronicles of Bob
5:41 pm on Monday, September 10, 2012
So a pale white person is a closet Communist
The Guru
7:22 pm on Monday, September 10, 2012
No, a communist without a tan is a closet communist.
Chronicles of Bob
8:20 pm on Monday, September 10, 2012
But if they are already a Communist, though pale, how are they in the closet?
Billable Hours
8:40 pm on Monday, September 10, 2012
Oh "without a tan" is because he's black and "closet Communist" is because he's black and getting reelected?!?! Got it.......Good talk Guru!
Chronicles of Bob
9:04 pm on Monday, September 10, 2012
But i dont have a tan, and i have never publicly grabbed a mans ass... so am i a "closet gay communist"?
anthony
4:35 pm on Monday, September 10, 2012
Well 2016 Rand is gonna run ... Makes all the difference
Alan Banks
4:54 pm on Monday, September 10, 2012
Should We Trust Romney On Taxes? NO !
V. Scheurich
4:56 pm on Monday, September 10, 2012
You can trust Romney because he never took cocaine and smoked dope like the present one we have in office. What the people of Chicago need to look out for now is the greedy public unions and turning down a huge raise over 4 years.
Find your Union and how much $$
http://www.unionfacts.com/unions/
V. Scheurich
4:57 pm on Monday, September 10, 2012
http://www.unionfacts.com/
Billable Hours
5:24 pm on Monday, September 10, 2012
V.S. I'm begging you to stop trying to break the breath holding world record. You brain is in desperate need of oxygen!!!!
Chronicles of Bob
5:48 pm on Monday, September 10, 2012
( in my best Col Wilhelm klink voice)
Heil von Scheurich!
Bob
6:17 pm on Monday, September 10, 2012
His FishScam.com web site encourages pregnant women to disregard federal mercury guidelines and eat more albacore tuna.
FACT: The “UnionFacts” are nothing more than distortions and half-truths
The centerpiece of Berman’s anti-worker campaign is a website that purports to show the “facts” on unions, but which offers distortions instead. In posting union staff salaries (which already are publicly available from the U.S. Department of Labor), the website does not distinguish between salaries and travel expenses, inflating salaries so that union field reps who are reimbursed for travel and lodging look like high-paid officials.
While highlighting the fact that there have been "$400 million in labor racketeering fines and civil restitution in the last five years," Berman's outfit ignored that almost all of the penalties in question were being paid by businesses, not unions, violating labor law.
Their ads feature actors speaking as working people, but in fact the group attacks the groups who work for fair wages, safe working conditions, and a better life for hard working Americans. Further, the full-page ad in the Oregonian, with a model posing as a worker sneering at the camera, is just plain mean. People who work for a living deserve better than to be mocked by corporate lobbyists like Berman, who rakes in $10 million a year.
More information on Richard Berman is online at ConsumerDeception.com.
Bob
6:18 pm on Monday, September 10, 2012
Despite Berman’s denials, his group is in bed with Americans for Limited Government, Grover Norquist’s group that’s pushing Colorado’s TABOR failed spending limit in several states. Unions in all four states that are being attacked by Berman this week – Oregon, Michigan, Nevada and Montana – are fighting the failed Colorado experiment. In Oregon, this is Measure 48.
The American Prospect wrote an excellent expose in which quotes Berman as saying, "Our offensive strategy is to shoot the messenger. We've got to attack [advocates'] credibility as spokespersons."
FACT: Berman’s PR machine is notorious for creating front groups to spread distortions and attack consumer and progressive groups.
Berman’s Center for Consumer Freedom has attacked Mothers Against Drunk Driving, People for the Ethical Treatment of Animals, and the U.S. Centers for Disease Control on behalf of alcohol, fast food, and tobacco lobbies.
His American Beverage Institute was set up to fight laws aimed at increasing safety regarding alcohol and drinking/diving laws.
His Employment Policies Institute fights minimum wage increases, especially in low-wage, labor-intensive sectors such as the restaurant industry.
Bob
6:18 pm on Monday, September 10, 2012
FACT: The Center for Union Facts is a PR facade and is pure fiction
Richard Berman’s Center for Union Facts is reportedly funded by the U.S. Chamber of Commerce, which fights against unions on worker-friendly laws like the prevailing wage for construction workers, minimum wage increases, and Fair Share Health Care legislation. An anonymous source revealed to the AFL-CIO that, in a meeting of the State Chambers of Commerce National Conference held on Sanibel Island in Florida on January 26, the State Chambers announced they were spending $8 million a year ($2 million a quarter) to launch this anti-union campaign.
FACT: This attack is related to unions’ success in fighting for working families.
Bob
5:55 pm on Monday, September 10, 2012
1)Raising corporate taxes (which is what happens when "loopholes" are eliminated without a corresponding change in rates) will simply cause more companies to move more activity overseas to lower tax jurisdiction = US jobs lost
You don't get it. That is what IS happening and no amount of further tax cuts will solve it. We are still the largest and richest country in the world. Remove all tax breaks except for job creation. If they STILL outsource the work, charge them when they try to bring the goods back in to sell them to us. Because if the jobs keep going overseas, there will be no reduction of food stamp or section 8 benefits unless you want a riot. Cheney and his live in guarded compounds, but the rest of us will be screwed. If you think it's a war zone now, wait a few years.
Either they can create jobs, or they can face a tax rate with no loopholes or huge import tariffs if they want to sell anything here.
They are making record corporate profits while the middle class gets squeezed. We can't afford to wait to tell these guys that there is no free lunch.
V. Scheurich
6:23 pm on Monday, September 10, 2012
Public Union greed in Chicago and the nation is watching every minute of this rape of the taxpayers being played out in the media. Now you know why the citizens are tired and have had it with Public Unions.
http://weaselzippers.us/2012/09/10/chicagos-unionized-teachers-go-on-strike-even-though-they-are-the-highest-paid-in-america-make-62-more-than-the-average-chicago-family/
V. Scheurich
6:34 pm on Monday, September 10, 2012
Waiting on that call from The President! Is it going to be to Rahm or is it to the Unions?
http://www.breitbart.com/Breitbart-TV/2012/09/10/No-Call-From-White-House-For-Chicago-Teachers-To-Get-Back-In-Classroom
Nurse Ratchet
9:04 pm on Monday, September 10, 2012
VETERANS BEWARE...Ryan has cut VA benefits and the Senate has voted it through. Altschuler and a few other Republican candidates are needed to pass this bill in the House; they only need a hand full of seats. Altschuler is the key link. Read the NY Times today. Take your time, it's a bit complicated, which is what Romney and Ryan hoped for, so us veterans wouldn't be able to understand it. It comes down to one thing and one thing only: Either Romney, Ryan and Altschuler tell us veterans "There are NO CUTS in the Ryan Budget to VA benefits" or they're lying to us. The Time and Congressional Budget Office make it clear...HUGE CUTS have been made. Read the article: http://campaignstops.blogs.nytimes.com/2012/09/09/edsall-the-ryan-sinkhole/?nl=opinion&emc=edit_ty_20120910
Let Altschuler, Romney and Ryan deny it. We HAVE read the article all the way through and it was the Romney Campaign that has sent a mumbo-jumbo of non-denial denials.
Vets must UNITE against the continued Republican pilfering of the benefits.
Dinkamoe
9:10 pm on Tuesday, September 11, 2012
The IRS had an amnesty program to not pursue criminal charges for felony tax evasion for not reporting offshore tax income if the tax evaders voluntarily come forward and pay all back taxes, interest, and penalties owed. My money is betting that this is the reason Mitt romney is not releasing his tax returns. He would be forced to step down as the Republican presidential nominee.
anthony
2:55 pm on Wednesday, September 12, 2012
So who funded Sam Bacile ? Another guy that does not use his real name..
Bucket2tekcuB
1:39 am on Monday, September 17, 2012
ill-informed, mis-informed leaning against their own interests unknowingly.
romney would be worse than bush PERIOD. unbelievable
John Roberts
7:03 am on Monday, September 17, 2012
Romney not wanting to hide his tax returns,Obama not wanting to tell a Judge if Americans are being illegally obtained under the NDAA act the judge found unconstitutional....Both Romney and Obama are how did I hear it best....2 cheeks of the same ass spewing the same crap....You are all under the illusion they are different because you have not done your homework you have let the media do it for you
Homewood Jim
7:45 am on Monday, September 17, 2012
With all the mainstream media in the tank for Obama, and doing all they can to get him re-elected, may be the primary reason to vote against Obama. He had 4 years, why not give another guy a chance? Couldn't be any worse.
John Roberts
9:56 am on Monday, September 17, 2012
Remaining the same,heading down a road of destruction is not good either.Me I am not going to be responsible for voting for either.Will not vote for more wars,more taxes,more medical corruption,more invasions of privacy,more laws passed to restrict the citizens rights to bare arms while constantly continuing to bomb other countries and standing up and saying things like we need to invade Cuba,passing 5,000 laws in a single year,signing executive orders to control all natural resources,know what this means? All of your things running to your house get shut off if ever a stupid civil war was to break out here. When is enough enough,when do we say you got the point don't mess with us and we leave them with the knowledge we will flat lad your country.Instead of getting more and more people killed. I will not vote for a war with Iran for blocking off the the Straights of Hormoz for Oil.We know full well the consequences for consistently depending on other countries and crude oil to be the energy for the world when we know there is other options...No Thanks