"Retroactive" Retirement

[AlanBama]

Over the years, I have heard a lot of foolishness from rich Republicans, but I think this one moves to the top of the list.

He 'retroactively' retired from Bain Capital?  Are you kidding?

What is even more ridiculous, is that the general public will accept this kind of nonsense as an explanation.   The 'dumbing down' of America....it goes on and on.

[Miss Philicia]

I'd like to "retroactively" not get AIDS. Of course it's absurd.

It's obvious that there's something unappetizing in Romney's 2008 and 2009 tax returns. He gave McCain 2 decades of returns up to 2007 (though, of course, they were never made public so who knows) but the thing with the ones I mentioned, is that this is when Romney's Bain severance was over, and combined with the financial meltdown it's not hard to imagine his accountants using overly aggressive means to lower his tax rate, from the already absurdly low 13% he reported on the '10 taxes recently released.

While I'm sure nothing technically illegal was done, for someone who has known they were running for President for over a decade it's simply bad optics if his tax rate was in the single digits.

[buginme2]

If he releases his tax return it will probably show he was still getting paid by Bain (as CEO) when he was in Utah working for the Olympics, in essence double dipping.  This during the time Bain was shipping jobs overseas. 

[Buckmark]

If he releases his tax return it will probably show he was still getting paid by Bain (as CEO) when he was in Utah working for the Olympics, in essence double dipping.  This during the time Bain was shipping jobs overseas.

There's other things his tax returns could reveal, like how he has an IRA worth $100 million when the annual contribution limit is $6,000.  He likely undervalued the assets like investment partnerships that he put into the IRA (you can put other things besides cash into an IRA).  Even if what he did is technically legal, the appearance is certainly unsavory.

His tax returns could also show very low effective tax rates, which would also be unsavory to many Americans.  Ditto for off-shore bank accounts.

As Miss P said above, I'm surprised that the Republican party did not vet all of this -- seems like past tax returns are pretty basic and essential disclosures for a Presidential candidate.  Romney may be taking a page from Texas Governor Rick Perry, who refused to disclose his tax returns in his 2010 gubernatorial campaign.  But Perry was never in danger of losing the governor's race.  Perry eventually disclosed his tax returns after the campaign, in 2011.  And yet Perry has called for Romney to release his tax returns.  How twisted.

[mecch]

As Miss P said above, I'm surprised that the Republican party did not vet all of this -- seems like past tax returns are pretty basic and essential disclosures for a Presidential candidate. 

Who or what would have vetted? When? The Republican primary seemed to allow anyone with the cash and the will to run, and they did.  What a lineup of scary shady unsuitable people. 
The Republicans are stuck with Romney, the one with the most money and the least crazy.  He's just a sleaze, greedy capitalist, and hypocrite.

[Miss Philicia]

Actually no, it was the primaries that were supposed to do some vetting. By that I mean a well funded opponent for Romney would have had sufficient funds to run a well staffed campaign with opposition research. The only primary candidates that would have been funded enough to do this were Pawlenty (who dropped out really early) or Perry (who imploded).

Bachman, Cain? please, they were not staffed up enough for that

And the ones that made it to the end -- Santorum and Newter? Santorum wasn't staffed for opposition research and neither was Gingrich. Yes, they had money via PACs from millionaires but that was for TV advertising, not oppo research.

If Perry had not been a moron he would have assumably had staff to uncover this Bain and tax stuff and would probably have glided through the final primaries to win.

[mecch]

That's right.
It does beg the question.  One presumes there are Koch like super-entities, you know straight out of Network, pulling all the strings. 

Maybe they like Romney's M.O.?

Maybe they are so cynical and know that since Citizens United they can buy an election and the candidate just needs to be ready to do their bidding.  Romney is surely capable of doing their bidding.

Maybe they have blind spots and don't realize that everyone does NOT forgive the super rich for anything and everything.  Lots of these politicians are rather removed.  How many houses? Hmm, better check with my wife.  How much a gallon of gas?  Hmm dunno.  Offshore tax shelters, well everyone does it like that.  It's legal!  Can i get that burger with arugula, hold the mayo.

[J.R.E.]

He 'retroactively' retired from Bain Capital?  Are you kidding?

https://www.youtube.com/watch?v=BAkRTOHiP4o&feature=relmfu   

[red_Dragon888]

All n All, it is a nice RED HERRING topic.