Since the Republican presidential primary, Dade Behring, which made blood-testing machines and conducted animal tests at its Miami plant, has become something of a focus. Bain Capital, GOP presidential hope Mitt Romney's firm, had bought Dade and shuttered its factory in Puerto Rico in 1998. The closings continued under Bain's management.
It's become a familiar tale about Romney and Bain's business dealings. The New York Times reported that Bain pushed the profitable company into bankruptcy. The Miami Herald followed with its own chronicle of the mass layoffs and mass profits for Romney and company. The Tampa Bay Times reported that Dade had received millions in tax breaks to promote job creation in Puerto Rico one year before it closed the factory there.
Bain, of course, walked away with a huge profit. In 1999, the private equity firm grabbed $242 million after it pressured Dade to borrow more millions to buy up Bain's shares in the company. (My emphasis)
So many Dade workers lost their jobs -- 1,700 in the United States, 850 in Miami alone -- that the Bain-Dade dealings have become a symbol of corporate bloodletting and a painful memory to those who witnessed the layoffs.
Fred Gregory, an information technology consultant, said he was brought in to assist the plant closing in Miami. The cafeteria scene [during the mass layoffs] also stuck with him. At a certain point, he told HuffPost, he stopped eating lunch there. "I didn't want to see the women crying," he explained.
Bastard. Thieving, lying, job-destroying, sociopathic bastard. And remember--
Willard wanted to DESTROY the U.S. auto industry. ("Let Detroit go bankrupt.")
Willard wanted NO HELP for people struggling with the prospect of losing their homes. ("Let it hit bottom.")
Willard helped DESTROY a number of other PROFITABLE companies.
Along with Ayn Rand-worshiping fanatic Paul Ryan, he wants to DESTROY MEDICARE.
He helped OUTSOURCE American jobs.
He kept money in FOREIGN countries instead of in the U.S. where it could actually be borrowed by Americans.
He wants to GUT MEDICAID.
He wants to give himself a huge tax break and actually RAISE taxes on poor Americans.(!!!)
Willard Mitt Romney is the ENEMY of the average American. That he has a chance to become president is a shocking indictment of the power of years of right-wing lies and propaganda, lies that have convinced millions of people to vote against their own interests.
And on top of everything--
WHERE ARE YOUR TAX RETURNS, WILLARD? WHAT ARE YOU HIDING FROM US, YOU LEGALIZED THIEF?
http://www.huffingtonpost.com/2012/07/23/mitt-romney-foreign-income_n_1695806.html?utm_source=DailyBrief&utm_campaign=072412&utm_medium=email&utm_content=FeatureTitle&utm_term=Daily%20Brief
ReplyDeleteThis is the 411 on his tax evasion and money hiding. He's very slippery.
During an interview with the National Review, Romney said that sub-companies in the Cayman Islands help foreign investors avoid paying taxes on investments in the United States. Bain Capital currently has 138 sub-companies headquartered in the Cayman Islands.
ReplyDelete"The so-called offshore account in the Cayman Islands, for instance, is an account established by a U.S. firm to allow foreign investors to invest in U.S. enterprises and not be subject to taxes outside of their own jurisdiction," Romney said. "So in many instances, the investments in something of that nature are brought back into the United States. The world of finance is not as simple as some would have you believe. Sometimes a foreign entity is formed to allow foreign investors to invest in the United States, which may well be the case with the entities that Democrats are describing as foreign accounts."