Monday, August 06, 2012

Romney Tax Drama Continues......


**** Is it possible that Romney owes taxes in Italy?  That question came up after an article from Bloomberg News was released about someone "skirting taxes" in Italy:

Mitt Romney skipped Italy on his swing through Europe. That was probably prudent. 

That’s because Bain Capital, under Romney as chief executive officer, made about $1 billion in a leveraged buyout 12 years ago that remains controversial in Italy to this day. Bain was part of a group that bought a telephone-directory company from the Italian government and then sold it about two years later, at the peak of the technology bubble, for about 25 times what it paid.....

....As Bain’s CEO from 1984 to 2001, Romney was personally involved in the deal at various points, including the initial decision to invest. He attended at least one meeting about it in Boston, according to a participant. When Bain sold the directory business in 2000, Romney, while still holding the title of CEO, was in charge of preparations for the 2002 Winter Olympics in Salt Lake City. Romney has contended that he gave up management control of Bain in February 1999 to run the games....

Ouch!  An American ally feels cheated out of tax money???????  

• • • Mitt and Ann Romney paid $12 million in cash for their mansion on the California coast???!!!  See LA Times for the story of how Mitt and and Romney have pushed for and received a reduction on their property taxes on the La Jolla house. The LA Times article is quite revealing.

>>>>  Why has Josh Mandel bet against our country's survival? Read about him at ThinkProgress.