Sometimes it pays to be a heartless, Job-crushing Millionaire ...
and Pays, and Pays, and Pays ...
Romney still making millions from Bain: report
Reuters -- Dec 19, 2011
In the final deal of his private equity career, Romney negotiated an agreement with his former partners that has paid him a share of Bain's profits ever since, bringing his family millions in income each year and bolstering the fortune that has helped finance his political aspirations, the paper said.
Nice "Work" if you can get it -- right Mitt?
Who knew being a multi-tasking Job Destroyer could pay so well ...
Well, HOW well does it pay?
What kind of income does Mitt get -- for just being Mitt?
13 Years After Quitting, Romney Still Makes Millions From Bain Capital
by Christopher Robbins, gothamist.com -- Dec 19, 2011
But if Romney didn't ask for a larger piece of the pie at the time, the company's growth has done it for him. In 1999, Bain managed $4 billion in assets. In 2005, it had grown to $21 billion, and currently, it holds around $66 billion. Out of Romney's estimated net worth of $190-$250 million, between $12.4 million and $60.9 million are Bain assets, according to a 2011 campaign disclosure. The total could be far more because of blind trusts and other assets held by Romney's wife.
[...] what may matter most about Romney's Bain income in a showdown with Obama is how it's taxed 15% instead of the usual 35%, because it is seen as "carried interest." A law professor notes that the carried interested exemption -- or "carried," as it's called by the people lucky enough to benefit from it -- is part of a set of options that are not available to the ordinary taxpayer. [...]
Romney hasn't worked in the private sector for 13 years, so it's unclear when he has "labored" over these recent profits. But the former governor wants you to know that he's living paycheck to paycheck, just like us.
And it's not just any old sweat-equity Income either; it's that fancy 1%-er Income, called "carried interest" -- which gets that special Non-patriotic Tax Rate of 15% ... Nice Tax Loophole if you can get it, right Mitt?
No wonder Willard the Job Cremator "likes firing people" -- because it pays really, really well.
Why You Cannot Say You 'Like' Firing People
by James Fallows, The Atlantic -- Jan 9 2012
[Romney] was making a reasonable point about the need for choice and competition -- just as John Kerry was making a reasonable point about the different stages of the legislative process when he said "I actually voted for the $87 billion, before I voted against it." It was completely "unfair" to use that line against Kerry, because if you stopped to listen to his reasoning, the phrase was merely one clumsy out-of-context portion of a larger "sensible" statement about how Congressional politics works. Exactly as with Romney and "firing."
But of course that clip hurt Kerry -- in part because the Bush campaign team immediately rammed it home, and in part because it connected with an existing vulnerability or impression about Kerry. I think this moment from Romney may hurt him too, for all the "unfairness" of criticizing what he said, because it touches something so emotional and raw.
Fair is fair. I think you guys call it "swift-boating," right SuperPAC operatives?
I wonder if Mitt is liking that Heat in that Kitchen yet?
If not, well he can always explain: How we can all become Millionaires like him too.
Afterall the world could always use more Job Destruction -- right Mitt? There's still Workers out there, just waiting to be shown the downsizing door. So many Jobs, so little time ...
No wonder you don't want those Tax Returns scrutinized, Mitt -- you just might get Fired yourself, before you even get to the 3rd interview. Bummer Dude.
It sucks to be on the other side of the "Pink Slip" threat for a change, eh Willard? No worries, there's always a bright future in Lobbying, for a guy with your rationalization skills ...