Mittens and His Money

It doesn’t bother me that Mittens has a lot of money. What he does with it is something else again.

Here’s the Vanity Fair article mentioned in the video.

There is also the mystery of Mitt’s IRA account.

His IRA raises two key questions, both of which his campaign has consistently declined to answer: How, despite a $6000 legal limit on annual contributions to an IRA, did Romney’s IRA grow to over $100 million? And did he avoid any U.S. taxes on its enormous returns?

Curiouser and curiouser.

10 thoughts on “Mittens and His Money

  1. Conservative POV:
    Maybe one of Mitt’s great great great grandfathers started that IRA, didjay filthy Liberal vermin ever think of THAT?!?!

  2. Sad. And even more sad is the notion of the press”well we asked and we never got an answer- oh well” WTF? If this story included a intern with a sticky dress and it involved a cigar NOTHING else would matter. The candidate could be on fire and the press wouldn’t even mention that- it would be all about the intern 24 /7 but this? Well it just isn’t a lot of fun to look into(yawn) and it’s hard and people don’t really have a long enough attention span to grasp all this in these times would they even care if their neighbor got one over on those blood suckers at the IRS? So why keep asking the question? We asked and they never answered so what the hell do you want us to do?

    Then we have the 24 hour “news ” stations. They hold the view that this is a complex issue to explain to people and again their attention span is too short to keep them watching long enough to make people understand the issue and how it affects them.
    The PBS newshour has more in depth features on issues than all of the cable “news ” networks put together.Cable news dumbs everthing down to small 20 minute programs that are never really news but more “20 minutes of your life you’ll never get back” saying things like “ok we don’t have much time” – ah hello you have 24 hours a day!

    If the entire press pool cared one half a shit about doing their jobs and actually GETTING the answers to these questions then they would all not stand for being stonewalled and pushed around and they would ALL only ask questions about this issue and only this issue till they got the answers.What a bunch of pussies! I mean what if , say a bus driver did his job like this? “Well i statred on my route and I got lots of people on the bus , but screw it! I was not sure everyone on the bus really wanted to go and I really didn’t feel like it so I just parked the bus and called it a day. I think I did really well today!” What kind of journalist ends a story with ” Duh I tried to get answers but they wont tell me”.Gee thanks glad we cleared that up!

  3. Think of the rate of interest required for that IRA to get to where it is legally. Now remember the rightwing’s whoop-it-up over Hilary Clinton’s cattle futures profits.

  4. I believe the IRA scam works because Romney’s class never actually deals in what we would consider “real money” – they deal in trusts and interests and various legalistic financial vehicles.

    What I heard is that what Romney put into his IRA wasn’t actually something so tawdry as cash taken from a paycheck, but the financial value of his ownership interest in some kind of investment trust that basically owned very little, so his interest was below the limit in value. Then that investment trust went out and did some as yet unidentified wheeling and dealing, probably borrowing money, and quite quickly became worth a ton of money, but of course Mitt doesn’t have to pay taxes on it because it’s in his IRA, so the tax is deferred. I’m guessing that the trust was intentionally created with next to no value, so that Mitt could put his interest in a shelter, and only THEN did they do investments they’d planned all along. But we won’t know until there are more details revealed.

  5. Curious about how the IRA got so big. However, taxes on the IRA only come when you withdraw money from it.

  6. And, after 5 years of and Obama candidacy AND Presidency, the right still whines that he wasn’t properly vetted?

    And the MSM lets righties constantly complain about that over the air and in print.

    And here’s the R candidate, a very wealthy millionaire (billionairs?), with $100 in an IRS, and who knows how many offshore accounts to hide and/or store his money, and the MSM is doing what it does best – sit on its ass.

    Where’s Mitt’s “Whitewater,” where the press goes ape?

    Well, why work and actually “report,” when you can write down what everyone says, type it, and hit “Enter.”
    The pay’s the same.

  7. This sounds like there has to be actual, prosecutable illegality involved.

    Is this going to be another Watergate?

    Hints before the election, then the guy wins, then the scandal grows enormous, and then the guy is forced out of office?

    I suppose, if Romney actually wins, we may hope so.

  8. Joseph Auclair,
    NO CHANCE!!!
    Especially if the Congress is R.
    Back during Watergate, R’s actually had a conscience.
    Today, they’re a party of nihilistic loyalists, and Christian and economic sociopath’s.

    Party over country!

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