How Did Mitt Romney Get So Obscenely Rich?

Submitted by: madest 5 years ago in

Robert Reich explains.
There are 38 comments:
Male 2,422
@Crakr: And yet, some how, American oil companies have tripled EXPORTS outside of the United States.

Here

And Here
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Male 1,360
Crakrjakass humping 5cats: lots of retarded pussies.
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Male 453
I didn`t know Robert Reich was such a rabble rouser.

BTW: I am referring to CrakrJak, 5Cats, and their ilk.
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Male 646
Romney`s a scumbag. Watch Newt`s video. He put lots of people out of work and closed down lots of companies.
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Male 17,512
jops: Oil companies have wanted to drill more and more, but despite Obama`s rhetoric he`s restricted drilling and killed the Keystone pipeline.

The so called `subsidies` liberals scream about are for cleaner fuels (ethanol and bio-diesel) and green energy projects (wind and solar). Companies like BP, which took a huge PR hit with the oil spill, also invest in windmills and ethanol production that all companies can get subsidies for.
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Male 38,406
@jops360: The "12 hours" comes from an IAB posting about how fast the US Gov`t blows through money. 1.5 TRILLION and the "Buffet Tax" would generate a max of 200 billion? Or is it 200 million... IF it were imposed, which Obama is not doing.

As for "tax loopholes" how does the top 10% of income earners PAY HALF THE TAXES if there are these `loopholes`? Hummm? (Federal taxes, eh?) Not "should pay" but actually, in fact, do pay.

This video is pure crapola, it`s Obama re-election propoganda. All smoke & mirrors, no facts allowed!
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Male 689
crakrjak - you are right, more taxes on an already broke society wouldnt solve anything but what i am saying is to ACTUALLY enforce the tax system and take out the breaks/subsidies that most major companies dont need. take the oil companies, they get millions to offset drilling but they dont drill because it would bring more oil to the table and the price might go down. on top of that, they make RECORD profits EVERY quarter. are you telling me, taking away these subsidies is a bad thing? who needs this money more, them or a broke government? you say we need to cut spending and this is a prime example. and where do you get 12 hours at? what is the real savings in monetary terms or are you afraid that people will see its in the billions and agree with me. we need to reset the tax code. take out the loophole hidden from everyone but the rich and those who put them there and make sure that the people who actually need the help get it.
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Male 67
"Who has to pay more taxes to make up the difference" what difference capital gains are not income the government isn`t out money because people made profits. Also many companies that Mitt and Bain capital worked with/bought hired more workers. This is why NPR said that the net impact of bain capital on jobs was near zero. These firms target mismanaged companies that are undervalued or are underperforming. The case study covered on NPR of a paper/supply company is a good example. In the end the ailing company was still ailing, but investors and bain made a lot of cash. The only loser in that scenario was the people who bought the company from Bain at a higher price than what Bain payed.
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Male 423
we doomed.
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Male 186
Gee, thanks Bob for telling us how evil Romney make all his millions. Now, please tell us how a Community Organizer earns even a dollar?
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Male 17,512
jops: Obama has already said that the `Buffet Rule` that would supposedly close this `loophole` is a gimmick. The difference in revenue would run the federal government for approximately 12 hours.

More taxes will not solve any problem this country has.
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Male 689
5cats - maby thats the problem. romney on the other hand made his money screwing over the average worker. and like he said they only pay 15% because another loophole in the system. im not against making a living but when it directly takes it away from hundreds of other people while utilizing every negative loophole there is a problem. i say close the tax loopholes, get ride of corporate welfare, and make government bribery illegal again. until that happens the country will always be in the pockets of the 1%.
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Male 25,416
meh.....
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Male 7,619
5cats, and thats why I cant really trust presidents, senators, etc. because they are all rich [many of them coming from some higher level of money] and dont give a damn about anybody but themselves and their fellow wealthy.
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Male 38,406
2:06 "lost revenue"? wtf? If the company is making more money than before, it`s now paying more taxes! Utter bullshiite!

OH! MoveOn! That explains everything, lolz!

Hey libtards: EVERY American President is rich, including Obama! That`s "obscene" enough for you?
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Male 7,378
EmagehtmaI, If the messenger makes the message obsolete then everything you hear from anywhere isn`t viable.
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Male 187
I knew the video had no credibility when I saw the "moveon.org" address. Yup. Moving on alright... to the next video.
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Male 689
dingdingdong - if that is true then why is every one of the companies he is "invested" in, end up bankrupt/closed? sounds to me like you are just trying to come up with excuses for a system of corrupt loopholes the Romney clearly uses everyday. class warfare is just a rebuttal when there is no other answers to serious questions about how people become rich while screwing over the rest. if this is class warfare then what about EVERYTHING the right plans to do to the poor? quit being a shill.
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Male 689
gerry - he is a douchbag because when he makes these profits he normally adds hundreds to unemployment and ruins peoples future. there is nothing like buying a company in a small town, that has few, then turn around, fire/take away benefits and after all of the workers are done close the company(causing the whole town to feel the burden) just to make a profit. this is a horrible way to ensure your pockets are full and that is why he is a horrable person. btw, this happened in my town. it caused the unemployment to skyrocket and whenever there is an opening normally there are over a hundred people trying for the same job. funny though how he claims he can lower the unemployment rate when he is one of the sole people raising it.
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Male 7,378
@FoolsPrussia, Anything that is not conservative is "socialist" to a republican.
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Male 26
Gerry: Romney broke no laws. He only took advantage of a great big loophole. The problem is they take a company, milk it, get rid of employees and benefits. Sold it and usually left it in ruins. I am sorry, if that is capitalism then I am a socialist.
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Male 38,764

So Romney took other peoples money with their consent, invested it in a business which turned a profit and paid the investors back + dividend... and he`s a bad guy for this?

Romney is a douchbag because he want`s to give more tax breaks to rich people, get rid of minimum wage, ban gay marriage, and repeal child labor laws. But making a profit is not, the last time I checked, a bad thing.
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Male 17,512
China`s socialism/communism is ran by the military. The military leaders own China`s corporations and they are getting very rich from it.

Here the billionaires run most things, but at least those with disposable income can play the market as well. The way the elitists will divide this country into haves and havenots is by killing the middle class and turning them into unionized wage slaves.
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Male 1,059
Step 3 -- wait a second. So, the goal of private industry is profit??? I thought the point of owning a company was to pay "workers". From each according to his ability, to each according to his need, right? Oh, wait, that didn`t work so well for John Galt`s company, did it?
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Male 3,445
"The oligarchs retain control and their wealth for generations, it becomes another form of nobility. A good example of it is China, right now."

China is state socialism, in which the government owns most of the big companies and banks. That`s not what we have here and I don`t see that changing anytime soon.
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Male 1,558
Cause the 1% know what to do with bucks. The 99% have a savings account if that.
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Male 1,511

This is ridiculously biased class warfare stuff. That is not how it works.
Private equity investment groups are designed to earn profit for their investors. Their goal is to not kill companies, lol.
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Male 2,592
Lets rob his stupid ass, stomp his fuggin head in, and let the .45 go past his ear. That`s how they need to be treated. That`s how we do things around here.
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Male 17,512
FoolsPrussia: Elitist socialism doesn`t apply full `socialism` to everyone equally, it applies it to the `commoners` only, they legally make themselves immune from the laws they wish to impose on others.

The oligarchs retain control and their wealth for generations, it becomes another form of nobility. A good example of it is China, right now.
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Male 38,764

[quote]"Obscenely Rich" [/quote]
How rich is "obscene"?
Can I just be rich to the point of rudeness?
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Male 3,445
"I`m just not buying the idea that all successful businessmen are evil based solely on their success."

I don`t think anyone is saying that. Reich is making the point that Romney is one successful businessman who made his money in a way that, while legal, is less than something to be celebrated for.

And obviously Reich is a Democrat. He was in Clinton`s administration.
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Male 3,445
CrakrJak: How on earth can George Soros be a socialist? You just claimed he made his money on private equity and then you accuse him of being socialist?
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Male 38,764

P.S. I`m happy to villify the bankers and brokers who did in fact steel money to get rich. I`m just not buying the idea that all successful businessmen are evil based solely on their success.
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Male 38,764

nayrbarr - I don`t like the guy, but let`s find real topics to dislike him. He broke no laws, he didn`t steel any money... so we just hate him for being richer than us? I don`t like him, not gonna vote for him. But this is a non-issue.

What other lawful practices shall we condemn him for? Mitt Romney Doesn`t Use Condoms either! It`s a war on women! OMG!
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Male 17,512
Moveon.org, Ran by Billionaire George Soros, the man who invented `private equity` takeovers among other `tricks`. So, Mr. Soros, why don`t you give back all those ill gotten `capital gains` that you acquired ? Ahh that`s right, you`re a elitist socialist aren`t you Mr. Soros ? You want to rule by oligarchy and owning the democrat party through campaign donations and SuperPACS like Moveon.org.

George Soros `Obscenely Rich` billionaire afraid he`ll lose his grip on the White House to a mere millionaire. Boo Hoo, ya hypocrite.

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Male 365
Gerry, one of his points is wrong so you dismiss the entire video?
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Male 38,764

Unemployment Insurnce is paid by businesses, not taxpayers.

So..... sounds like liberal clap trap to me.
He`s successful so let`s villanize him for being successful.

Romney is a great big bag of douche, but last I heard, being rich is not a crime.
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Male 7,378
Link: How Did Mitt Romney Get So Obscenely Rich? [Rate Link] - Robert Reich explains.
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