Romney should not be the least bit defensive about his wealth, Bain Capital, or his overseas bank accounts
Mitt Romney should not be the least bit defensive about anything he or Bain Capital has done.
He should release all his tax returns. What’s the problem with being worth hundreds of millions of dollars and having bank accounts in Switzerland, Cayman Islands, and wherever else?
The American economy is collapsing. The dollar is in free fall. The national debt is $16 TRILLION. The Federal Reserve is printing money like its confetti. The home foreclosure rate is higher this year then last year. The stock market is still 1,000 points lower than it was in October of 2007.
How can anyone, in their right mind, bet on the U.S. economy at this point, especially with the current tenant in the White House?
Romney would be crazy not to protect at least some of his assets. His first obligation is to protect his family.
Of course, now he’s also trying to save the country.
John F. Kennedy was rich. And he was flagrant about it. That certainly didn’t hurt him. Does anyone really begrudge Bill Gates and Steve Jobs their tens of billions?
Of course not . . . because Bill Gates and Steve Jobs made the world a better, more productive place with their amazing innovations. Yes, they made a small profit on each item they sold. They also made countless investors rich. Many of their employees became multi-millionaires. They put hundreds of thousands of people to work, with good pay checks.
They created many more jobs than Obama. Of course, that’s not tough because Obama has created zero net new jobs so far as President. My 11-year-old daughter’s lemonade stand has created more jobs than Obama.
I heard a liberal on some radio show say the other day that $1,000,000 is the most anyone should be allowed to earn in a year.
Once you hit $1,000,000, whatever else you make should go to Uncle Sam is the thesis.
What would the point then be for Bill Gates, Steve Jobs, and Henry Ford to continue to go to work to make even more amazing products?
Of course, they would continue to go to work because they enjoy what they are doing. They just would not continue to go to work here in the USA. They would likely move their operations to China, India, or someplace else.
Most Americans admire rich people, especially if they are self-made — especially if they’re danged smart — as are the likes of Bill Gates, Steve Jobs, and Mitt Romney.
Do you really want a poor person to be the leader of the Free World?
Isn’t success in life a bare minimum requirement to be President?
Contrast Romney to Obama.
Obama has never built a business, never even held an important job in a profit-making company. He has spent his entire life working for government and in radical non-profits (like ACORN) doing community organizing. He also wrote two autobiographies of himself, before he was President.
For some reason Obama felt he needed to write two autobiographies — both of which turn out to be mostly ficition.
And that’s it for Obama — the sum total of his accomplishments.
We now see where that’s getting us.
Despite spending TRILLIONS on misguided “stimulus” deficit spending, green energy, bailouts, and on “shovel ready” projects “which turned out not to be so shovel ready”; despite adding $6 TRILLION to the national debt in less than four years as President; despite the Federal Reserve pumping TRILLIONS of new devalued dollars into the economy (more stimulus) . . . Obama has yet to create a single net new job.
Amazing. How is this even possible?
If I ran up $6 TRILLION on my credit card, I would think I could have bought something for that. Obama, incredibly, managed to buy nothing for the $6 TRILLION — not even one net new job for the entire U.S. economy.
Is it possible to fail any more spectacularly than this?
By contrast, Romney’s career at Bain Capital was a tremendous success. He built Bain Capital. Whether he created tens of thousands or hundreds of thousands of net new jobs during his tenure at Bain is a matter of debate. Whatever the real number, it’s certainly more net new jobs than Obama has created as President.
Romney ran Bain Capital for fourteen years, during which time the firm’s average annual internal rate of return on realized investments was 113 percent. Woah!
Romney left Bain in 1999 to run 2002 Winter Olympics. He remained an owner of Bain, but was not involved in the operations of Bain after 1999.
So how did Mitt do running the Olympics?
Before Romney came to the rescue, the Olympics were a mess, running a $379 million budget shortfall. Some suggested scaling back the Olympics because of the fiscal crisis. There were also allegations of corruption and bribery involving Olympics CEO Frank Joklik and other top Olympic officials.
Romney came in, tightened down the screws, cleaned up the mess, boosted fundraising, got more corporate sponsors, and ran the Olympics like a business. He oversaw a budget of $1.3 billion, 700 employees, and 26,000 volunteers. The Olympics under Romney ended up clearing a profit of $100 million.
The Obama campaign is trying to sayRomney was actually running Bain through 2002 because his name appears on Bain’s filings with the SEC as an owner.
But if Romney really was this successfully and simultaneously running both Bain Capital (with its 113% annual returns on investments) and the Olympics (which earned a $100 million profit), that certainly would be a impressive feat.
Is this really Team Obama’s argument against Mitt Romney?
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