When he thinks he is safely tucked away with his fellow vulture capitalists, where nobody else can hear, Lord Willard loves to impugn the worth of those he considers takers and moochers, like people who paid all their lives for Social Security, veterans maimed serving our nation, etc. In short, he cares not for all those, who are not forking out to pay his own fair of the tax burden. The real takers and moochers are Lord Willard and people like him.
The biggest beneficiaries of government largess are not those who struggle along on Social Security payments, Medicare or Medicaid benefits, or earned-income tax credits, despite what Mitt Romney has told his donors. Rather, they are those at the highest end of the income scale: government contractors, corporate farmers and very rich individuals who have figured out how to exploit the country’s poorly written tax code for their benefit.
The latter group’s most prominent member is Mr. Romney himself, whose astonishingly low tax rates are made possible by finding and using every loophole and flaw in the code. What his tax practices show is not illegal or unethical behavior, but rather the unfairness of a tax system that provides its most outlandish benefits only for the very, very rich and savvy. What is worse is that Mr. Romney has proposed making this profoundly dysfunctional system even more unfair.
Some of Mr. Romney’s financial tactics are well-known, like structuring his income so that most of it is taxed at the low capital-gains rate of 15 percent, or stashing investments in tax havens like Switzerland or the Cayman Islands. (The Times reported on Tuesday that the use of these havens not only saved him money, significantly enhancing his sizable retirement account, but also helped his company attract foreign investments.) But other strategies are so obscure that they are only known to the very few who worry about passing millions to their heirs without paying transfer taxes.
As Bloomberg News recently reported, Mr. Romney has managed to move nearly $100 million worth of assets into a trust for his heirs without paying any gift tax, which, like the estate tax, was established to ensure that society benefits from the dynastic transfer of great wealth. When he was running Bain Capital, the private equity firm, in 1998, he gave the trust shares of an Internet ad company, DoubleClick, in which Bain had invested, just before the company went public. The shares were worth little then, but insiders like Mr. Romney knew the company could flourish. After the company went public, the value of the shares went up tenfold. The trust then sold the shares, but their increased value escaped the gift tax because that tax applies just to the original value of the gift.
But that wasn’t the only trick that Mr. Romney used, none of which are of any use to ordinary taxpayers… [emphasis added]
Inserted from <NY Times>
Photo credit: EgbertoWillies.com
Lord Willard’s solution to this inequity is even more giant tax cuts for the rich. But won’t that increase the deficit? He says it’s revenue neutral, because he will close tax loopholes. Which ones? He’ll tell us after the election. We should trust him, he says. When asked to be more specific, Lord Willard’s boy wonder, Paul Lyin’ Ryan said he does not have time to explain it. Watch Ryan lie.
Frankly, I do trust Mitt Romney. I trust him to act just like a Republican. I believe I can say with confidence, that the “loopholes” he will close are the legitimate deductions of people like you and I, but he will expand the loopholes for the filthy rich that keep people like you and I paying Lord Willard’s share.
Welfare is for Lord Willard, not YOU!
12 Responses to “Welfare Is for Lord Willard, Not YOU!”
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I took the time to inform one misinformed voter of this fact today….
Good for you! Kudos!!
If this pair get elected- the country– US- deserve what we get—because what they are , what the GOP has become should be more than clear ; Once a Vulture Capitalist always a Vulture Capitalist!—-
The message is clear — VOTE !
After voting for the destruction of the nation as we know it, that's is what they would get. Electing Republicans is its own punishment.
That picture of Rmoney — the look on his face says he's got one pile of built up gas just ready to be expelled! Greedy Old Phart!!!
"Trust me" he says when pressed for answers as to what loopholes he'll close. He has proven over and over that he can't be trusted. He changes his mind on any given subject from a stated position at the beginning of an interview to a different one further along in the interview, and when pressed on the matter, says the interviewer misunderstood him. You can be sure that any changes to the tax code will solely be for the benefit of corporations and the 1%, people like him. It isn't good enough for Rmoney or Lyin' Ryan to say I haven't got the time. I say, "If you haven't got the time, you don't have the vote either!".
Romney, Lyin' Ryan and the entire GOP are all scoundrels and gold diggers with no redeeming qualities.
Get out the vote!!!!! Four more years!!!!!
Vote Democratic 2012!!!!! Vote Obama/Biden 2012!!!!!
Well said, Lynn!
I continue to be amazed at the number of people who are poor, working poor, barely middle class, and middle class who do not see this! How can we trust a man who changes his position on any topic depending on his audience?
They trust him because they do not know that. Either they are uninformed through their own apathy, or worse they are completely ignorant (watch Faux Noise).
The sad thing is that we really don't have much a choice for president this time around. For Obama has proven to be about worthless as a leader while Romney and his bunch would most likely return us to the days of subprime loans.
Welcome Jerry. 🙂
I agree with what you said about Lord Willard, but Obama has been far from worthless, having accomplished much in the face of unprecedented obstruction: ObamaCare, equal pay for women, the CFPB, saving the economy from destruction, etc.
What Rmoney and his ilk have benefited from are the true entitlements in this country. And, they feel as though they are truly entitled to their virtually tax-free status.
That needs to change.