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Romney earned an annual executive salary from Bain that was north of $100,000 between 1999 and 2002. We don't know how far north of $100,000. It could have been millions. He was the sole owner of the company, named himself as CEO & President, and paid himself a big, and so far as we know enormous executive salary, but claims no responsibility for the management of the company during that period.

Wouldn't it be great to get a six or seven or eight digit salary for a job you didn't have to do? The job creators are so clever, they can create jobs for themselves, get paid huge salaries, and not even have to show up to work. Genius. Pure genius. How can you not admire these guys?

And Romney has an IRA worth $100,000,000. Brilliant. Why didn't I think of that? I've been contributing the maximum legal amount to my IRA for 15 years, and it is worth about $100,000. Romney's is worth $100,000,000. There must be some special rule that applies to him that does not apply to the rest of us. You rock, Mitt. You should be president. You are so awesome.

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Comment Preferences

  •  I'm wondering what his 2001 1040 (8+ / 0-)

    lists as his occupation and employer.

    If it is CEO, Bain Capital, that might be enough by itself  to make him withhold it.

  •  Sheer Geenius! (3+ / 0-)
    Recommended by:
    bkamr, JeffW, ExStr8

    I's tells ya.

    yuk, yuk.

    What is necessary to change a person is to change his awareness of himself.
    -- Maslow ...... my list.

    by jamess on Fri Jul 13, 2012 at 03:30:27 AM PDT

  •  He's in deep doo-doo one way or another. (13+ / 0-)

    I nearly did a spit take when they were trying to present the Bain promotional material as "evidence" of his non-involvement.

    The terms and titles offered in the 13-D SEC filings aren't some random words plucked hither and thither from the ether with no connection to reality.  They are very exact, and have importance in a very real legal and fiduciary sense.  These titles matter.

    They are not open to interpretation from a PR standpoint or some vague human resources definition of duties.

    Now he's going to have to figure out what part he wants to admit he lied about and to whom.

    The SEC?  The Massachusetts Election Board?  Possibly Bain's clients?

    Were Bain's clients led to believe that he was still involved in the decision making process, when in fact he wasn't despite what some promotional pamphlet stated?

    None of this happened in a vacuum, there are lawyers and  corporate officers who had to sign off on these required filings.  Somewhere, there was a very real fraud being perpetrated and not just to the American public.

    McCain's campaign surely knew of this poison pill back in '08, why else would they pick the lunatic from Lake Lucille?

    I had hoped someone would toss him an anchor sometime during the campaign, I didn't expect it to be still attached to the Queen Mary.

    "Hey Joe Walsh, when did you stop deadbeating your wife?"

    by wretchedhive on Fri Jul 13, 2012 at 03:49:14 AM PDT

  •  Romney Is a Con Artist (8+ / 0-)

    Would you want to see a doctor that lied on his resume? No. Now, think about the presidency ...

    "I'll believe that corporations are people when I see Rick Perry execute one."

    by bink on Fri Jul 13, 2012 at 04:29:47 AM PDT

  •  Exactly. Day-to-day management isn't important. (8+ / 0-)

    What matters is that he was the owner and CEO (and not even a distant beneficial owner, but the actual one).

    If he remains the owner and CEO, then if some crisis comes up he would be involved.

    The day-to-day management is irrelevant.

    I don't get why the so-called 'fact-checkers' are buying into this idea that somehow what matters is the operations. No! It's the ownership!

  •  2-3 Layoffs would Cover the $100k (3+ / 0-)
    Recommended by:
    bkamr, ExStr8, wasatch

    So what if Romney made $100k or more while having nothing to do with Bain?  What is that, maybe 2-3 people that Bain would have to layoff?  No big deal!

    Seriously, I love the fact that Romney made $100k while, in his words, doing absolutely nothing.  No wonder they call them the job creators!

    Poor man wants to be rich. Rich man wants to king. And the king ain't satisifed until he rules everything. B.Springsteen

    by howd on Fri Jul 13, 2012 at 04:48:39 AM PDT

  •  It's a common condition that CEOs seem to have (2+ / 0-)
    Recommended by:
    Sarge in Seattle, ExStr8

    They never ever know what's going on in their company.  Maybe that's what Romney meant when he claimed he was "unemployed".  He just doesn't know what's going on.

  •  Maybe as president Romny can offer up (3+ / 0-)
    Recommended by:
    JeffW, ExStr8, wasatch

    the same expertise as he did as CEO, do nothing, no responsibility for anything, but collecting a nice salary.  Seems to be a singular talent he has.

  •  4 things I'd like to see talked about: (6+ / 0-)
    Recommended by:
    Wee Mama, NYmama, JeffW, ExStr8, wasatch, madhaus

    1.  The buck stops at the top.  The boss is responsbile for what their company does.  If he wasn't in charge, he's still responsible for allowing his unsupervised but empowered employees to do in his name. Where is his sense of personal accountability?

    2. Even if he wasn't directly directing what others were doing, he was still profiting from the outsourcing of jobs overseas.  So, when he found out they were outsourcing jobs, did he take any action to say, "Hey, stop that.  That's scummy and hurting real Americans" ?

    3. He got paid a salary of $100,000.  So, either he's perfectly okay with getting "free stuff," or he was doing stuff to earn the salary.

    4.  Why isn't his money in American banks? Is there any other reason to put money in foreign banks unless you're trying to hide profits from the IRS and avoid taxes?

    Plutocracy (noun) Greek ploutokratia, from ploutos wealth; 1) government by the wealthy; 2) 21st c. U.S.A.; 3) 22nd c. The World

    by bkamr on Fri Jul 13, 2012 at 04:55:22 AM PDT

  •  $100k is a TINY salary (2+ / 0-)
    Recommended by:
    ExStr8, wasatch

    Hold on a sec, let's get some context on that salary here.

    For a company like Bain, an executive would probably pull in a million dollars a year if he was worthless, $20 million if he was a valuable employee. For someone to be getting less than a million a year, they probably had to be on some sort of leave of absence. $100k would barely cover the dry-cleaning bill at the Romney estate, that's no a salary that anyone could live on.

    I know, it's hard to think about money that large being considered trivial, but that's the world Mitt lives in.

    But a salary that low actually supports the idea that Mitt wasn't doing any active management.

    However, frankly, how much time & effort he spent doing management isn't relevant. He was the sole stockholder, CEO and on the BOD, so he was responsible for all decisions made by the company. He was the captain of the ship, even if he was off in the galley drinking all night, he is still ultimately responsible if a junior midshipman runs the boat aground.

  •  Everything I learned about CEOs, I learned from (1+ / 0-)
    Recommended by:

    Lee Iacocca.  A few years back 60 Minutes had a segment about all the perks Iacocca received after leaving Chrysler.  It was ridiculous.  Penthouses in major metro areas, a salary, a spending account etc etc. And Iacocca explained that at that level you never really "leave".  He talked about having to woo dignitaries as the former CEO, sitting on various boards to network for the company. Someone should find that segment because it really explains how this "leaving Bain" meme is complete bunk.

    What's the saying?  Once you join, you can never leave.

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