Patters

Hey, Romney and Bain deserve credit for the ingenuity. Any way they can beat the tax system and leave the middle class holding the bill. No wonder Romney wants to be president. Just think how much wealthier he'll be if he wins.

http://www.bloomberg.com/news/2012-0...ting-taxes.htm

... Bain Capital, under Romney as chief executive officer, made about $1 billion in a leveraged buyout 12 years ago that remains controversial in Italy to this day. Bain was part of a group that bought a telephone-directory company from the Italian government and then sold it about two years later, at the peak of the technology bubble, for about 25 times what it paid.

Bain funneled profits through subsidiaries in Luxembourg, a common corporate strategy for avoiding income taxes in other European countries, according to documents reviewed by Bloomberg News. The buyer, Italy’s biggest telephone company, now has a total market value less than what it paid Bain and other investors for the directory business.

In Italy, the deals have spurred at least three books, separate legal and regulatory probes and newspaper columns alleging investors made a fortune at the expense of Italian taxpayers.

patsfan13

So Bain Capital did something that is legal and common in Europe after Romney left the firm and this is a bad thing for Romney...


BTW Bain had a fiduciary responsibility to structure the deal in a way to benefit the share holders not the Italian Government.

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"Some guys play in all-star games, some guys don't. I don't know who picks all those all-star teams. In all honesty, I don't know who picks the combine, for that matter," Belichick said. "How does (Miami-Ohio offensive lineman Brandon) Brooks not get invited to the combine? How did Vollmer not get invited to the combine? I don't know. We can't really worry about that. We just have to try to evaluate them the best we can."

IllegalContact

So, Patters........what is supposed to happen in that case?

what I see is someone who was outstanding at doing what he was supposed to do.......a level of effectiveness obama has never achieved anywhere in his life.

he did his job and he did it better than anyone else

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wistahpatsfan

Patters, you're fishing without any bait, man.

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PatsFanInVa

We're assuming, since nobody filed charges, that it was legal.

Please demonstrate that it was "normal" in Europe.

Romney was 100% owner of Bain in 2000. Unless he was going to sue himself, the "fiduciary responsibility" argument is best reserved for cases involving publicly held companies.

PFnV

patsfan13

[QUOTE=PatsFanInVa;3094526]We're assuming, since nobody filed charges, that it was legal.

Please demonstrate that it was "normal" in Europe.[/url]



The article linked in the OP stated it was normal.


Romney was working the Olympics full time.

None of the other partners had no part of the company they were just gofers?

Silly boy.

The Obama campaign is scraping the bottom of the barrel to avoid talking about the economy aren't they.

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"Some guys play in all-star games, some guys don't. I don't know who picks all those all-star teams. In all honesty, I don't know who picks the combine, for that matter," Belichick said. "How does (Miami-Ohio offensive lineman Brandon) Brooks not get invited to the combine? How did Vollmer not get invited to the combine? I don't know. We can't really worry about that. We just have to try to evaluate them the best we can."

Patters

I think if Romney is persona non grata in Italy, it's fairly significant. While there is an element in America who admires the sort of ingenuity that Bain engaged in, there are many who really don't admire that. Many of us recognize that Romney is a poster boy for loopholes for the wealthy. While I won't fault him for taking advantage of loopholes, it's certainly not something that I see positively. Do you think the same people who admire Romney's games admire the welfare recipient who has children to get extra aid or the dogged disability seeker who manages to get that aid legally, even though s/he might not need it?

patsfan13

Yeah because that would have solved Italy's fiscal problems brought about by the policies Obama wants the US to embrace...

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"Some guys play in all-star games, some guys don't. I don't know who picks all those all-star teams. In all honesty, I don't know who picks the combine, for that matter," Belichick said. "How does (Miami-Ohio offensive lineman Brandon) Brooks not get invited to the combine? How did Vollmer not get invited to the combine? I don't know. We can't really worry about that. We just have to try to evaluate them the best we can."

Patters

As I asked Wistah, do you also admire the person on welfare who identifies every single form of aid s/he can legally get? Do you admire the dogged disability seeker who legally finds a loophole in disability so that it s/he can collect it? If your point is that legally exploiting the government is okay, then I hope that point applies to the poor as well as the wealthy. If Romney was poor, he'd be the American Welfare Queen because he's so effective. I think Romney is not releasing his tax returns, even though many conservatives are calling for him to do it, because he has something to be ashamed of. It's sad that rather than hide the information, he doesn't share his tax strategies so as to help others who share his point of view or to help the government close loopholes that allow the rich to profit at the cost of increasing the federal deficit.

wistahpatsfan

Oh yeah. I forgot about this tactic:

Italy=USA
Greece=USA
Portugal=USA

Funny.

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