February 1st, 2012
09:25 AM ET
5 years ago
What will become of Romney's fortune?
New York (CNNMoney) - If Mitt Romney is elected president, he will have to make some tough choices about what to do with his personal fortune.
In order to avoid conflicts of interest and satisfy ethics watchdogs, soon-to-be presidents often sell assets or relinquish control of their investments to a trustee.
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Like all democrat liberals, CNN Ticker seems insanely focused on Mitt Romney's money. Yet they have yet to report who the biggest donor to Obama's Super Pac is (or even that he has one). It is of course that corrupt union SEIU, the same folks who bought us ACORN. You won't see any mention of that in the liberal media, or that this SuperPac has raised more money than all of the Republican presidential contenders, combined. Just something the regime and its servants, the corrupt unions and liberally biased media don't report.
Here is an idea – be like Bill Gates and Warren Buffett. Give away 80% of what he is worth to real charities that could use the financial infusion. It would still leave him as the richest man to ever be elected.
It will all disappear into his wifes Swiss Bank account- Easy. No one will know where the money went or how much went into it.
You can bet if Leech is elected he'll bend the rules and the law. He wants to abolish estate taxes and lower taxes for millionaires, so he can just give lots of his assets to his kids and grandkids so they can continue leeching off the US Treasury for future generations.
I'm an Obama capitalist and I have real conflicts about this. Bottom line is: it's Romney's money, he earned it. I say put serious watchdogs out to monitor his behavior regarding commerce and fiscal policy if in office. But, hopefully, it won't come to that with the president's relection.
I'm certain the folks in Grand Cayman and Switzerland will appreciate it when he makes those large deposits. Not to worry... President Obama will most certainly get re-elected. Independents aren't stupid enough to put Republicans back in charge when they were the ones who screwed it up in the first place – especially since they worked so hard to obstruct progress toward the recovery.
Romoney's massive fortune has continued to grow under President Obama, and will continue to grow during the President's second term ~ as will the wealth and strength of the middle class.
The fact is that the middle class was financially decimated under the last GOP President at the same time Romoney and the rest of the 1% financially gorged on the debris left by the GOP’s destruction of the middle class.
And the decimation of the middle class under a Romoney (or any other GOP) and their tax schemes would continue – and the 1% would return to feeding on the middle-class’ demise – expanding their personal wealth and power over the 99% – even more.
@WiredweirdinSF,,,spot on as usual.
If he pays tax of 40% instead of paid 13.8% last year, and spends all his money in USA in upcoming elections, that's is enough. It is very unlikely that he makes in Election, because he stands for Filthy-Rich and Tax evasion, and jobs shipping overseas. Not for Middle-Class-Americans, but for banning your social security, and Medicare, and health care...etc.,
passive income isnt earned income.
If the worst you have to say about Romney is, and I quote many of you, "There is just something about him that I don't like...", or,"My pastor says I shouldn't vote for a Mormon", then you need to really consider what it is you are criticizing Romney about. The fact is he is a good person, and a good candidate. He has my vote.
Romney 2012
Im sure Romney has thought about this & has allready planned were to stash his loot. Truth is, it's beyond me how anyone who claims to be your average middle class citizen could vote for him. He is the poster child for income inequality & what is wrong with the mentality of the GOP. A Romney presidency would be a disaster of epic proportions & would further desimate the middle class & anyone in pursuit of a fair shot at the American dream. Oh yeah & lets not forget a return to cowboy foreign policy.
Since Romney has been boasting himself that he is proud to be rich and he can not apologise for being so, further more he mentioned he did not inherit the wealth, won't it be nice, he be transparent by letting people examine how he made his money inorder to allow people gain trust in him.
Ah, we know where the Cayman Kid will send his loot. Btw Gurgi and Wired, its because Obama has already gone through the process of scrutiny, Romney clearly has not. Stop playing the " I'm a conservative and I'm always a victim of the truth " line, it gets old and pathetic very quick.
I'LL watch it for him (teeee heeee heeee).
I'm not as concerned with Romney's money as I am with his team of advisers. The majority of them were GW advisers, and Americans are still living with the mess these folks created. I'd hate to go back to the same policy making decisions that got America where it is are today. Considering that Romney feels Obama hasn't been working fast enough to get us out of the Bush disaster, I doubt Romney has paid too much attention to why that disaster occurred, or what he would do differently to avoid another such disaster. Far as I can tell, he made out fairly well and won't be rocking the boat against the policies Bush's advisers are gun-ho to once again recreate.
@Tom Pain. Agree to disagree again. Obama may have gone through "scrutiny" but CNN and other, shall we say, left leaning news sources, have made barely a mention, much less the big deal they are making of Romney.
What will happen to Mitt's money? I don't think he has to worry his plastic head about that at this stage,
Romneys fortune is in the Cayman islands. Protected in offshore bank accounts.
@Gurgi – Over the course of the entire year, 2008, 85% of the news stories about Barack Obama were negative. If you doubt that the figure was actually that high, then I suggest that you turn on FNC once in a while.