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News for Norther Colorado and the world

Wednesday, October 22, 2014

Romney’s magic economy plan

 

salon logo1 Romney’s magic economy plan

 

 

 

 

Romney and his allies say the economy will just come back if he wins — because the rich are on strike. He’s wrong

 

By Andrew Leonard

romney mug Romney’s magic economy planRomney was quite clear on this point in his infamous “47 percent” speech. Romney told his audience that “if we win on November 6th there will be a great deal of optimism about the future of this country. We’ll see capital come back, and we’ll see — without actually doing anything — we’ll actually get a boost in the economy.”

The notion that Romney could spur economic growth “without actually doing anything” invites mockery. The Atlantic’s Matt O’Brien memorably dubbed it “faith-based economic strategy.” At the very least it seemed to betray a breath-taking level of unwarranted hubris. But the key to understanding his boast is to ignore the low-hanging fruit (“without actually doing anything”) and focus on five crucial words: “We’ll see capital come back.”

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In Rolling Stone

 

Mitt Romney’s Tax Dodge
A guide to how the multimillionaire twists the law to hide his massive fortune – and avoid paying his fair share in taxes

By Tim Dickinson

Are Romney’s tax dodges legal? It’s impossible to say for sure, given how little he has disclosed. But tax experts note that there are plenty of red flags, including an investigation by New York prosecutors into tax abuses at Bain Capital that began on Romney’s watch. “He aggressively exploits every loophole he can find,” says Victor Fleischer, a professor of tax law at the University of Colorado. “He’s pushing the limits of tax law beyond what many think is reasonable.” Indeed, a look at Romney’s finances reveals just how skilled he is at hiding his wealth – and paying a fraction of his fair share in taxes. Read More

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