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(Some Guy)   Blogger determines how the Rmoney IRA got to be so huge   (crossspeak.blogspot.com) divider line 234
    More: Interesting, Roth IRAs, Rmoney IRA, United States Department of the Treasury, tax shelters, u.s. taxes, Swiss bank accounts  
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6069 clicks; posted to Politics » on 29 Jul 2012 at 6:01 PM   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-07-29 08:38:11 PM
I believe you people have been told all you need to know about the Romney's finances.
 
2012-07-29 08:38:20 PM
Bontesla: hinten: So, even when a blogger potentially gets it notionally right I'm supposed to get upset?
He can't even get the basics correct, e.g. Romney has a SEP- IRA with a yearly contribution limit of $30k.

But I'm sure everything else is exactly as this blogger claims.

Ah man. It looks like this blogger stuck a raw nerve with you. Do you need a cushion for your butthurt?


That line of discussion is so unproductive I don't even know what to say.
 
2012-07-29 08:38:53 PM
skullkrusher: Corvus: I posted a few days back explaining in great detail how you are too stupid to have a logical conversation with. One of the main points were you lack the ability to see beyond very superficial elements of a situation and instead think about the concepts behind them. You right now seem unable to understand underpricing company AAA instead of under pricing BBB is not some significant distinction.

lolz... I post what I find to be a more likely explanation of Mitt's IRA and you call this "white knighting for imbeciles" and you're calling ME simple? That is delicious, don't you dare ever change.

Of course it is a significant distinction to our "discussion" if the underpricing of BBB was more likely than the hypothetical existence of AAA's underpricing and issuance, you farking moron


1.bp.blogspot.com
 
2012-07-29 08:40:07 PM
Corvus: skullkrusher: He was either putting discounted Bain or Domino's Pizza stock in there. I have learned in this thread that they are "the same farking thing".

Back to your strawman trying to spin what I actually said into something I never did. you love that so much.


I don't need strawmen. Your actual arguments are very easily defeated.

You ever get around to finding where I didn't recognize my own link?
 
2012-07-29 08:40:48 PM
skullkrusher: hinten: So, even when a blogger potentially gets it notionally right I'm supposed to get upset?
He can't even get the basics correct, e.g. Romney has a SEP- IRA with a yearly contribution limit of $30k.

But I'm sure everything else is exactly as this blogger claims.

that's still a helluva return
He was either putting discounted Bain or Domino's Pizza stock in there. I have learned in this thread that they are "the same farking thing".


Yes, it would be. Outrageously so and very unlikely.
Do we even have confirmation that the $100M is true?
 
2012-07-29 08:41:02 PM
skullkrusher: Corvus: skullkrusher: He was either putting discounted Bain or Domino's Pizza stock in there. I have learned in this thread that they are "the same farking thing".

Back to your strawman trying to spin what I actually said into something I never did. you love that so much.

I don't need strawmen. Your actual arguments are very easily defeated.

You ever get around to finding where I didn't recognize my own link?


us12.memecdn.com
 
2012-07-29 08:41:35 PM
Corvus: skullkrusher: Corvus: I posted a few days back explaining in great detail how you are too stupid to have a logical conversation with. One of the main points were you lack the ability to see beyond very superficial elements of a situation and instead think about the concepts behind them. You right now seem unable to understand underpricing company AAA instead of under pricing BBB is not some significant distinction.

lolz... I post what I find to be a more likely explanation of Mitt's IRA and you call this "white knighting for imbeciles" and you're calling ME simple? That is delicious, don't you dare ever change.

Of course it is a significant distinction to our "discussion" if the underpricing of BBB was more likely than the hypothetical existence of AAA's underpricing and issuance, you farking moron

[1.bp.blogspot.com image 499x376]


what do you think that does aside from further provide evidence that you're an infantile prick with the literary skills or a drunken Chinese monkey?

Seriously man, they're not laughing with you. They never are.
 
2012-07-29 08:42:12 PM
hinten: skullkrusher: hinten: So, even when a blogger potentially gets it notionally right I'm supposed to get upset?
He can't even get the basics correct, e.g. Romney has a SEP- IRA with a yearly contribution limit of $30k.

But I'm sure everything else is exactly as this blogger claims.

that's still a helluva return
He was either putting discounted Bain or Domino's Pizza stock in there. I have learned in this thread that they are "the same farking thing".

Yes, it would be. Outrageously so and very unlikely.
Do we even have confirmation that the $100M is true?


I've heard it from a variety of sources. Sounds legit
 
2012-07-29 08:43:20 PM
skullkrusher: Corvus: skullkrusher: Corvus: I posted a few days back explaining in great detail how you are too stupid to have a logical conversation with. One of the main points were you lack the ability to see beyond very superficial elements of a situation and instead think about the concepts behind them. You right now seem unable to understand underpricing company AAA instead of under pricing BBB is not some significant distinction.

lolz... I post what I find to be a more likely explanation of Mitt's IRA and you call this "white knighting for imbeciles" and you're calling ME simple? That is delicious, don't you dare ever change.

Of course it is a significant distinction to our "discussion" if the underpricing of BBB was more likely than the hypothetical existence of AAA's underpricing and issuance, you farking moron

[1.bp.blogspot.com image 499x376]

what do you think that does aside from further provide evidence that you're an infantile prick with the literary skills or a drunken Chinese monkey?

Seriously man, they're not laughing with you. They never are.


www.jonnyku.com
 
2012-07-29 08:43:20 PM
skullkrusher: what do you think that does aside from further provide evidence that you're an infantile prick with the literary skills or of a drunken Chinese monkey?

that's what an actual typo looks like, Corvus. Stop blaming your illiteracy on fat fingers
 
2012-07-29 08:45:12 PM
Even the Romney's horse is living the high life and writing it off... Rafalca
 
2012-07-29 08:45:29 PM
skullkrusher: skullkrusher: what do you think that does aside from further provide evidence that you're an infantile prick with the literary skills or of a drunken Chinese monkey?

that's what an actual typo looks like, Corvus. Stop blaming your illiteracy on fat fingers


Once again it's my fault for your mistakes. Amazing how that happens. Was that lack of capitalization and punctuation also a type? Will love to hear how that is also my fault.
 
2012-07-29 08:46:29 PM
Corvus: skullkrusher: skullkrusher: what do you think that does aside from further provide evidence that you're an infantile prick with the literary skills or of a drunken Chinese monkey?

that's what an actual typo looks like, Corvus. Stop blaming your illiteracy on fat fingers

Once again it's my fault for your mistakes. Amazing how that happens. Was that lack of capitalization and punctuation also a type? Will love to hear how that is also my fault.


no, I didn't blame my mistake on you at all. Learn to read.

The end of this thread is what it looks like when a person with very poor social skills realizes he's gone far beyond the usual stupid but doesn't have the class or awareness to simply back out of the thread

I'm done. It's been fun watching you self destruct.
 
2012-07-29 08:49:08 PM
Mitt Romney is incredibly rich.
Water is wet.
Your blog sucks.
Ric will have details at 11.

//Have a sneaking suspicion that Bain Capital is the new Rose Law Firm
 
2012-07-29 08:50:15 PM
If wealth is a marker for a potential President, then I guess Obama is out also.

/you people are farking morons.
 
2012-07-29 08:51:23 PM
skullkrusher: The end of this thread is what it looks like when a person with very poor social skills realizes he's gone far beyond the usual stupid but doesn't have the class or awareness to simply back out of the thread

Yep. That's what you normally do in these threads. Go to insults and grammar Naziism pretending they mean something.
 
2012-07-29 08:52:33 PM
Propain_az: If wealth is a marker for a potential President, then I guess Obama is out also.

/you people are farking morons.


No one is saying that. They are criticizing HOW he made the money and that he doesn't believe the system is flawed.
 
2012-07-29 08:54:52 PM
Propain_az: If wealth is a marker for a potential President, then I guess Obama is out also.

/you people are farking morons.


Obama is worth 5-10 million, mainly from the profits of the books he wrote.

Romney is worth a quarter billion or so, mainly from inherited wealth and shady financial dealings.

False equivalency is very false.
 
2012-07-29 08:55:08 PM
hurdboy: //Have a sneaking suspicion that Bain Capital is the new Rose Law Firm

No.

Propain_az: If wealth is a marker for a potential President, then I guess Obama is out also.

I don't think you just said what you wanted to say.

Yes, Obama's a millionaire, but he didn't make that money buy doing anything morally reprehensible or by inheriting it; he wrote a book.

He's released over a decade's worth of tax returns, and he hasn't done anything to avoid paying tax on the money he's made. Further, once he took office, he started donating royalties from one (or both?) of his books to charity, so he's actually making less money by becoming president.

See the difference?
 
2012-07-29 08:58:32 PM
farkityfarker: Romney is worth a quarter billion or so, mainly from inherited wealth and shady financial dealings.

And Mitt says the inherited (or gifted however you want to call it) money didn't help him. He believe being born to a rich popular politician he had it just as hard is everyone else in the United States. That's what really makes it bad.

If he was said "I came from a home of privilege and I understand most Americans have it a lot rougher" that would be one thing but he believes he had it just as hard as everyone else.
 
2012-07-29 09:02:41 PM
hinten: Bontesla: hinten: So, even when a blogger potentially gets it notionally right I'm supposed to get upset?
He can't even get the basics correct, e.g. Romney has a SEP- IRA with a yearly contribution limit of $30k.

But I'm sure everything else is exactly as this blogger claims.

Ah man. It looks like this blogger stuck a raw nerve with you. Do you need a cushion for your butthurt?

That line of discussion is so unproductive I don't even know what to say.


I responded to an unproductive comment with another unproductive comment. If you wanted to have an adult conversation about the topic then perhaps you should have been a little more sensible.

The blog's argument was that Mittens earnings was unrealistic given that there are restrictions in place.
You want to set the blog's argument aflame because you've cited restrictions that differ from what the blog identified.

You fail to realize that even with your restrictions - the Rmoney fortune is still larger than reasonable.

Your restrictions don't actually change the conclusion of the blog. You can substitute your numbers for the blogger's and still arrive at the same results.

You're obviously being disingenuous because the truth is you're not interested in determining how likely it was that Mittens obtains his retirement fortune through unethical and likely illegal methods.

That's why I responded in an unproductive manner. You're simply disingenuous. I will continue to respond in an unproductive manner because you've given yourself away. You're not interested in discussing the merits of the blog.

Feel free to carry on with your rabble stick.
 
2012-07-29 09:03:18 PM
Delay: That's too complicated. Haven't you all watched Romney during the campaign? He's stupid. Here is how it is actually done.

1) Bain Capital purchases a company and all its assets.
2) You (Romney) take no salary, however, you transfer the entire employee retirement fund to your own account within the company's existing retirement account as a substitute for compensation. You do that within the first month of Bain Capital's purchase. By IRS rules it must be done within the first month of ownership.
4) When the company fails you convert that retirement account into a lump sum payment to your own IRA account tax free.
5) Repeat.

This is the shiat Romney does not want disclosed by showing his tax returns.


Look Mitt might be stupid socially, but financially he definitely knows how to game the system to the maximum extent. And if he were to gain the POTUS, he would only commence farking the rest of us even harder by creating more tax cuts for the wealthy who do not allow their wealth to trickle down, and who are not job creators. If they were, we'd all have farking jobs.
 
2012-07-29 09:03:34 PM
In short: RoMONEY is a weasel and he bend (and broke) the rules.

/Only the little people have to follow the rules
 
2012-07-29 09:07:52 PM
Dwight_Yeast: Because money only gets you so far, and power and prestige are a huge draw.

In Romney's case, he wants to do the one thing his father failed to do, thus proving (to himself, if no one else) that he's a better man than his father.

GW Bush's reasons were similar but more complex.


I know that third party candidates will never gain traction, and accept it. But it really is too bad. This country could benefit from an administration comprised of complete political outsiders. Instead, we're going to keep on being subjected to governors, congressmen, senators, and others in their dynastic circles.

Good thing we declared independence from Britain, especially that whole concept of inherited nobility.
 
2012-07-29 09:10:36 PM
At this point all I can do is sigh and hope he doesn't get oval office.
 
2012-07-29 09:14:19 PM
clkeagle: Dwight_Yeast: Because money only gets you so far, and power and prestige are a huge draw.

In Romney's case, he wants to do the one thing his father failed to do, thus proving (to himself, if no one else) that he's a better man than his father.

GW Bush's reasons were similar but more complex.

I know that third party candidates will never gain traction, and accept it. But it really is too bad. This country could benefit from an administration comprised of complete political outsiders. Instead, we're going to keep on being subjected to governors, congressmen, senators, and others in their dynastic circles.

Good thing we declared independence from Britain, especially that whole concept of inherited nobility.


Which is why the estate tax is important. People need to not be able to give their kids enough that their great-grandchildren never have to work.
 
2012-07-29 09:14:27 PM
hurdboy: Mitt Romney is incredibly rich.
Water is wet.
Your blog sucks.
Ric will have details at 11.

//Have a sneaking suspicion that Bain Capital is the new Rose Law Firm


Awww. Bless your heart. I bet you can count to potato, too!
 
2012-07-29 09:14:50 PM
Corvus: And Mitt says the inherited (or gifted however you want to call it) money didn't help him. He believe being born to a rich popular politician he had it just as hard is everyone else in the United States. That's what really makes it bad.

If he was said "I came from a home of privilege and I understand most Americans have it a lot rougher" that would be one thing but he believes he had it just as hard as everyone else.


I'm sure he realizes how much more fortunate he is than almost everyone else. But he also realizes that if he publicly admits it then he has zero chance of winning the election.

You can tell he knows he's lying when he talks. That's why he talks so fast and quietly, as compared to Obama.
 
2012-07-29 09:16:28 PM
Corvus: Propain_az: If wealth is a marker for a potential President, then I guess Obama is out also.

/you people are farking morons.

No one is saying that. They are criticizing HOW he made the money and that he doesn't believe the system is flawed.


I'm not really sure how Propain_az could miss that. It's actually in the blog. Must not be big on reading. . . or thinking . . .
 
2012-07-29 09:16:34 PM
farkityfarker: I'm sure he realizes how much more fortunate he is than almost everyone else. But he also realizes that if he publicly admits it then he has zero chance of winning the election.

Democrats with money do. They admit they were fortunate. Romney thinks he had it hard as middle class America does.
 
2012-07-29 09:17:23 PM
farkityfarker: Propain_az: If wealth is a marker for a potential President, then I guess Obama is out also.

/you people are farking morons.

Obama is worth 5-10 million, mainly from the profits of the books he wrote.

Romney is worth a quarter billion or so, mainly from inherited wealth and shady financial dealings.

False equivalency is very false.


This x [Mitt's total wealth]
 
2012-07-29 09:17:38 PM
Corvus: skullkrusher: The end of this thread is what it looks like when a person with very poor social skills realizes he's gone far beyond the usual stupid but doesn't have the class or awareness to simply back out of the thread

Yep. That's what you normally do in these threads. Go to insults and grammar Naziism pretending they mean something.


Oh, for Pete's sake, will you two just kiss and get it over with?
 
2012-07-29 09:32:06 PM
Sometimes I wish fark was threaded so I could collapse all the garbage
 
2012-07-29 09:37:39 PM
And yet, 45+ million of you spineless pussy republicans will vote for this guy.
 
2012-07-29 09:44:38 PM
StinkyFiddlewinks: Sometimes I wish fark was threaded so I could collapse all the garbage

Ignore helps a lot
 
2012-07-29 09:45:23 PM
my lip balm addiction: Look Mitt might be stupid socially, but financially he definitely knows how to game the system to the maximum extent. And if he were to gain the POTUS, he would only commence farking the rest of us even harder by creating more tax cuts for the wealthy who do not allow their wealth to trickle down, and who are not job creators. If they were, we'd all have farking jobs

Could not have been said it better.
 
2012-07-29 09:49:51 PM
Romney sounds like a combination of Superman III and The Toy, but not Brewster's Millions.
 
2012-07-29 09:51:50 PM
The author's explanation makes sense.

The author's conclusion "Pay taxes on $5000 and enjoy the tax-free high life at retirement" is bullshiat. When he takes money out, it'll be taxed as ordinary income. If capital gains rates stay at the current 15%, he could end up paying MORE thru the IRA method than he would have by paying capital gains.

Farkers like "Delay" have no knowledge of the tax system. And "farkityfarker's" claim that Romney is worth $250 million might be interesting, except so is Peyton Manning, who got very rich because (a) taxpayers paid for the Colts' stadiums, including operating costs (c) the Colts get all revenue from the stadium, (c) the Colts threatened to leave town if a new stadium wasn't built, and (d) American television permits unlimited advertising and therefore unlimited ad revenue.

In 2009-2010 the Democrats held the House, had a filibuster-proof majority in the Senate, and held the Presidency. And they did nothing. They could have fixed the idiotic system whereby corporate wankers dodge or defer taxes, and hedge fund managers pay capital gains rates on all income derived. But they didn't, because Democrats, like Republicans, are whores.

If Romney did break the law the Justice Department, the IRS, and the SEC are supposed to prosecute. The Obama administration hasn't done squat on this. They went after Gibson guitar over illegal wood for crissake, but Obama and Holder haven't even gone after big-time Democrat Jon Corzine, who made $1.5 billion disappear at MF Holdings.
 
2012-07-29 09:53:45 PM
Delay: That's too complicated. Haven't you all watched Romney during the campaign? He's stupid. Here is how it is actually done.

1) Bain Capital purchases a company and all its assets.
2) You (Romney) take no salary, however, you transfer the entire employee retirement fund to your own account within the company's existing retirement account as a substitute for compensation. You do that within the first month of Bain Capital's purchase. By IRS rules it must be done within the first month of ownership.
4) When the company fails you convert that retirement account into a lump sum payment to your own IRA account tax free.
5) Repeat.

This is the shiat Romney does not want disclosed by showing his tax returns.


I want to join your fan club. Great stuff.
 
2012-07-29 09:54:01 PM
sendtodave: Corvus: skullkrusher: The end of this thread is what it looks like when a person with very poor social skills realizes he's gone far beyond the usual stupid but doesn't have the class or awareness to simply back out of the thread

Yep. That's what you normally do in these threads. Go to insults and grammar Naziism pretending they mean something.

Oh, for Pete's sake, will you two just kiss and get it over with?


Do what I do. I favorite color Corvus in green and skullkrusher in purple. It's bi-color foreplay.
 
2012-07-29 09:57:44 PM
Just like I thought.

Duffel bags stuffed full of Benjamins with 1¢ price tags. What a farking crook.
 
2012-07-29 10:00:37 PM
Delay: Do what I do. I favorite color Corvus in green and skullkrusher in purple. It's bi-color foreplay.

Green and red for me. Corvus is identified on mine as "reasonable conclusions" and skullcrusher as "sold his brain as a tax write-off."
 
2012-07-29 10:03:25 PM
skullkrusher: Corvus: In certain companies (Bain may be one of them), under-priced stocks were given to the owners and directly deposited into their IRA accounts. So let's say the $5000 limit on the IRA deposit was achieved by under-pricing these stocks by a huge amount.

Stock in Bain.

Corvus: The other possibility, Kleinbard suggested, was not dissimilar to what Maremont theorized: that Romney contributed limited-partnership interests in Bain's buyouts to his IRA. What was "quite troubling" to Kleinbard is that he suspected Romney may have contributed these interests to his IRA at a fraction of their market value -- "pennies on the dollar" -- and well below what he might have charged you or me. When the buyouts became successful, Kleinbard proposed, the pennies on the dollar were suddenly worth real dollars.

stock in companies Bain bought.

My article mentions SEP-IRA which raises the contribution limits a good deal.

They are not the same thing and you popped off in ignorance and now want to save face. Don't bother. You are already a laughingstock


Stock in companies Bain bought is qualitatively the same thing as stock in Bain. Don't be disingenuous, I expect better of you.
 
2012-07-29 10:03:53 PM
clkeagle: skullcrusher as "sold his brain as a tax write-off."

I like that!
 
2012-07-29 10:08:52 PM
TheSwissNavy: Farkers like "Delay" have no knowledge of the tax system.

Oh come on, I receive a CD of H&R Block at Home every year free. How can you say that I have no knowledge of the the tax system? (Also, I employ a CPA for my books and a tax accountant for my returns.)
 
2012-07-29 10:10:05 PM
TheSwissNavy: In 2009-2010 the Democrats held the House, had a filibuster-proof majority in the Senate, and held the Presidency.

Al Franken, Scott Brown, and Ted Kennedy's illness would like a word with you. That word is "Wrong!"
 
2012-07-29 10:12:50 PM
Elmo Jones: TheSwissNavy: In 2009-2010 the Democrats held the House, had a filibuster-proof majority in the Senate, and held the Presidency.

Al Franken, Scott Brown, and Ted Kennedy's illness would like a word with you. That word is "Wrong!"


Also, Lieberdouche and that useless twat Nelson.
 
2012-07-29 10:14:11 PM
clkeagle: Delay: Do what I do. I favorite color Corvus in green and skullkrusher in purple. It's bi-color foreplay.

Green and red for me. Corvus is identified on mine as "reasonable conclusions" and skullcrusher as "sold his brain as a tax write-off."


OK, that's very funny.
 
2012-07-29 10:14:19 PM
TheSwissNavy: The author's explanation makes sense.

The author's conclusion "Pay taxes on $5000 and enjoy the tax-free high life at retirement" is bullshiat. When he takes money out, it'll be taxed as ordinary income. If capital gains rates stay at the current 15%, he could end up paying MORE thru the IRA method than he would have by paying capital gains.

Farkers like "Delay" have no knowledge of the tax system. And "farkityfarker's" claim that Romney is worth $250 million might be interesting, except so is Peyton Manning, who got very rich because (a) taxpayers paid for the Colts' stadiums, including operating costs (c) the Colts get all revenue from the stadium, (c) the Colts threatened to leave town if a new stadium wasn't built, and (d) American television permits unlimited advertising and therefore unlimited ad revenue.

In 2009-2010 the Democrats held the House, had a filibuster-proof majority in the Senate, and held the Presidency. And they did nothing. They could have fixed the idiotic system whereby corporate wankers dodge or defer taxes, and hedge fund managers pay capital gains rates on all income derived. But they didn't, because Democrats, like Republicans, are whores.

If Romney did break the law the Justice Department, the IRS, and the SEC are supposed to prosecute. The Obama administration hasn't done squat on this. They went after Gibson guitar over illegal wood for crissake, but Obama and Holder haven't even gone after big-time Democrat Jon Corzine, who made $1.5 billion disappear at MF Holdings.


I see that you can be safely ignored.
 
2012-07-29 10:17:21 PM
Gyrfalcon: Stock in companies Bain bought is qualitatively the same thing as stock in Bain. Don't be disingenuous, I expect better of you.

what the farkety fark? Disingenuous? This article suggests he used discounted Bain stock in a Roth or traditional IRA. The one I linked to suggests that he used discounted stocks of companies Bain bought while contributing to a SEP which allows for greater contributions. We KNOW that discounted stocks of companies Bain bought existed. We do not know about this hypothetical Bain employee stock plan. As a result hypothetical Bain employee stock plans and very real stock in Dominos and others are in no way "qualitatively the same thing". One exists and one is purported to exist to explain how Mitt's IRA balance got so high. I find the article I linked to to be a better explanation of what happened because it deals with real shiat instead of made up shiat. Now it's "disingenous"? What the fark am I being disingenuous about?
 
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