Millionaire Mitt’s Gotta Admit If He’s a Tax Fraud or a Vulture Capitalist (Tax Forms Hold Key)

[Octafish]

Dave Lindorff explains...

Tax Forms Hold Key: Millionaire Mitt’s Gotta Admit If He’s a Tax Fraud or a Vulture Capitalist

by Dave Lindorff
08/23/2012 thiscantbehappening.net

GOP presumptive presidential candidate Mitt Romney, as noted in ThisCantBeHappening yesterday, is probably stonewalling demands that he release his 2009 and earlier IRS filings because they could expose to the public that he availed himself of a 2009 IRS amnesty for those who admitted to earlier felonious hiding of income in Swiss and other foreign tax havens. Some 30,000 wealthy taxpayers did just that after a whistleblower broke the news that thousands of clients of Swiss Bank UBS were illegally hiding income at the bank, and the IRS sued for the names, while also offering the get-out-of-jail amnesty pass option.

But a reader, Phil Birkhahn, points out in his own blog called Romney the Tax Cheat that the slippery Harvard Law grad Romney may also have fraudulently ducked paying taxes in later -- and earlier -- years. Either that or he has to man-up and accept managerial responsibility for the obnoxious anti-worker and anti-America policies of his Bain Capital company during the 1999-2002 years, and in later years, during times when he asserting that he played none any but a passive investor role in the venture capital firm.

SNIP...

Although Romney, whose whole basic argument to voters is that they should elect him because he is a great businessman who will run America "like a business," also bizarrely at the same time claims that on "Feb. 1999 I left Bain Capital and all management responsibility," and says "I had no ongoing activity or involvement," meaning he was a passive investor in the firm, which he still owned 100% from that date until 2002, He is also listed as late as 2002 as one of the two managing members of Bain Capital in its annual report, and the company's SEC filings list him as CEO, President and managing director as well as sole owner in 2000 and 2001. That would make him an active investor.

If Romney was in fact an active investor, he would have been able to deduct so many expenses and losses that as a shrewd tax lawyer he probably managed to get his taxes down substantially. But if he was really, as he claims on the stump and in interviews when pressed about Bain’s atrocities, like the exporting of jobs of companies it bought to China and elsewhere, then he was not entitled to those deductions he claimed.

CONTINUED...

http://www.thiscantbehappening.net/node/1293

What passes for the GOP these days are warmongers and crooks.

[G_j]

1. K&R

..the plot thickens..

[Octafish]

2. Romney’s shady Olympic connections

Thickened like old thieves, wot? Sox First explains a bit of Crooks from the Olde School...

Romney’s shady Olympic connections

SoxFirst

EXCERPT...

But there's a deeper problem – Romney's links with CoSport, official vendor of Olympic tickets and hospitality packages. The Financial Times reports that CoSport's owner, Sead Dizdarevic, his wife Margaret and his holding company, Jet Set Sports Holdings, have donated $200,000 to Restore Our Future, a super-political action committee that supports Mr Romney.

And the company is bad. The Guardian reports that CoSport has completely stuffed up the ticketing for the Games. People have been queuing up for hours to get some tickets. Those lucky enough to get them have not been able to sit with the loved ones and kids.

Romney's links with Dizdarevic go back a long way. As Reuters reports, Dizdarevic was involved in the bribery scandal at the Salt Lake City Winter Olympics in 2002. The scandal focused on allegations that Salt Lake officials bidding to lure the Olympics there had spent millions of dollars on gifts, cash payments and other benefits for IOC members involved in deciding whether to award the Games to Salt Lake City. It also involved payments that prospective vendors made to Salt Lake Olympics officials. An indictment accused two officials of receiving $130,000 from Jet Set Sports, of which CoSport is a part. The charges eventually were tossed out by a federal judge, but not before Dizdarevic testified against the suspects after receiving immunity from prosecution.

So whats the connection? It's all about power and money. Romney, who was then with Bain Capital, had been brought in to steer the games out of trouble. He recruited Jet Set as a sponsor after he took over as chief of the Salt Lake Games, even though it had been indicted as a grubby company. The business connections between Dizdarevic and the next would-be US President run deep.

SOURCE: http://www.soxfirst.com/30394498/romneys_shady_olympic_connections.php

Interesting times, these, G_j.