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Please begin with an informative title:

Here is more info on Romney/Bain moving Sensata factory to China.

But first, watch this 10 second video.

And then watch the video below the fold...

Intro

You must enter an Intro for your Diary Entry between 300 and 1150 characters long (that's approximately 50-175 words without any html or formatting markup).

•    Romney makes $450,000 per week from his blind trust.
•    Bain is closing a factory and shipping equipment and jobs to China
•    The US government has paid $780,000 retraining fired Sensata workers.
•    Bain can deduct the expense of moving to China from US taxes.
•    US workers at the Sensata factory have to train their Chinese replacements.
•    Romney owns about $8 million worth of Bain funds that hold 51 percent of Sensata’s shares.

•    These are high-tech, well paid jobs performed by skilled American workers.
•    Workers in the Sensata factory in China make 99 cents an hour.
•    Chinese laborers work 12 hour shifts, 7 days per week.
•    Chinese workers are housed 2 to 3 to a room in barracks
•    The American workers set records for profits for Sensata

UPDATE

How Mitt Romney will benefit from closing Sesnata.

As mentioned in the bullet-points above, Bain/Romney will receive tax deductions after closing the factory in Freeport. Huffington Post takes a closer look at the tax benefits for Romney.

•    Romney transferred $701,703 worth of Sensata stock to the Tyler Charitable Foundation, a 501(c)3 tax-exempt nonprofit controlled by Romney.
•    Moving the stock to his nonprofit brings Romney twin benefits. First, he gets to deduct the full value of the stock. At a 35 percent tax rate, that's nearly a $250,000 benefit. At 15 percent, it's just over $100,000.
•    Romney is able to avoid paying capital gains taxes on the stock price increase. Romney's returns list no cost for the stock, and indicate he obtained them as part of a partnership interest in Bain. Avoiding capital gains taxes on the full increase would save an additional $100,000.
•    In 2010, Romney gifted $170,000 worth of Sensata stock to his charity, saving $25,000 in capital gains taxes that year.

Extended (Optional)

Originally posted to Z. Woof on Sat Oct 13, 2012 at 08:40 AM PDT.

Also republished by The Bain Files.

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