Bain sent American jobs overseas

[Stephanie]

During Romney’s tenure at Damon, the company allegedly defrauded Medicare for millions of dollars by offering packages of blood tests that resulted in doctors ordering unnecessary lab-work, paid for by Medicare. Damon offered suites of blood tests that, in some cases, were unrelated. Doctors could order Damon’s lab-work in these packages–but Damon did not inform those doctors that it would bill Medicare for the superfluous tests included in the packages.

After Bain sold the company to Corning, federal investigators caught Damon and a host of other medical-lab companies engaged in similar activity. Damon pleaded guilty to Medicare fraud in 1996 and paid a total of $119 million, including a criminal fine and a civil settlement. The United States Attorneys Bulletin outlined the sweeping investigations, known as LABSCAM, in its April 1997 issue. Other companies, such as SmithKlineBeecham, were also caught engaging in fraudulent activity and were forced to pay fines.

The Story Behind Romney, Medicare Fraud, and the Latest SuperPAC ‘Movie’ - ABC News

wth? this is some movie

 

[The Infidel]

Yeah, take it up with Jeffrey Immelt...

He's a Republican and sent jobs overseas too.

And?

He's head of GE, which paid NO taxes, AND he's good buds with your hero Obama, including being his "Jobs Czar".

And he is NO REPUBLICAN...


Sallow is a shallow liar as of late... he is desperately caught in the Obama death spiral.

 

[Chris]

According to a fascinating report on ABC's Nightline on Wednesday, the exotic Caribbean island is the haven for 138 accounts of Bain Capital with over $130 million. Interestingly, these accounts lead to a post office box, number 908, not a physical company and he is just one in a long line of the super rich who use the Caribbean Islands as their 'tax-free vaults.' Switzerland is a tad too far and cold so this is a closer, more 'attractive' location.

Secrecy in the Cayman Islands is tighter than the Holy Grail and Fort Knox combined for no one can get any information on these accounts. The other presidential candidates smell blood and are circulating for the "kill." Perry, Gingrich, Santorum all went after Romney during their latest debate, calling for him to release his tax information.

Romney has stonewalled on this request for months, only today admitting in his usual oddly uncomfortable way that he paid a much lower tax rate than the rest of us--15 percent to be exact. He tried to explain away the seemingly unfair taxation but the attempt is not comforting for millions who are struggling in our abysmal economy and still have to pay more than their fair share.

Tax haven or tax evasion? Mitt Romney's off-shore accounts in the Caribbean

 

[The Infidel]

I love late Friday libtard meltdowns..

Its getting to be a sport to them here at USMB

 

[The Infidel]

According to a fascinating report on ABC's Nightline on Wednesday, the exotic Caribbean island is the haven for 138 accounts of Bain Capital with over $130 million. Interestingly, these accounts lead to a post office box, number 908, not a physical company and he is just one in a long line of the super rich who use the Caribbean Islands as their 'tax-free vaults.' Switzerland is a tad too far and cold so this is a closer, more 'attractive' location.

Secrecy in the Cayman Islands is tighter than the Holy Grail and Fort Knox combined for no one can get any information on these accounts. The other presidential candidates smell blood and are circulating for the "kill." Perry, Gingrich, Santorum all went after Romney during their latest debate, calling for him to release his tax information.

Romney has stonewalled on this request for months, only today admitting in his usual oddly uncomfortable way that he paid a much lower tax rate than the rest of us--15 percent to be exact. He tried to explain away the seemingly unfair taxation but the attempt is not comforting for millions who are struggling in our abysmal economy and still have to pay more than their fair share.

Get back to us when this is illegal... until then shut the fuck up.

 

[Chris]

Bain Capital 'purchased' KB Toys for the respectable price of $ 305 million dollars on December 8, 2000.

Bain Capital only offered $ 18 million in cash, the rest was leaveraged debt put on the company.

Sixteen months after the buyout, Bain Capital paid itself $85 million in dividends in early 2002.

January 14, 2004, K·B Toys filed for Chapter 11 bankruptcy protection and closed 365 stores.

Three years later the rest of the 156 stores were closed down.

KB Toys - Wikipedia, the free encyclopedia

Romney wasn't at Bain in 2000.

Romney is a permanent board member. He makes millions every year from Bain.

Nice try, though.

 

[Chris]

The reason Romney doesn't want to release his tax returns is because he illegally evaded taxes.

 

[WillowTree]

The reason Romney doesn't want to release his tax returns is because he illegally evaded taxes.

so why won't holder and obummer release the documents??

 

[Katzndogz]

The reason Romney doesn't want to release his tax returns is because he illegally evaded taxes.

He released his tax returns.

Either he didn't release his tax returns and no one knows what they say or he did release his tax returns and claimed income and deductions for dressage horses. Which is it?

 

[CaféAuLait]

Romney sent jobs overseas as Governor as well.

Heck..it saves alot of money in the short term.

He should run on it!

Obama trains IT workers using taxpayer dollars:

U.S. To Train 3,000 Offshore IT Workers

Despite President Obama's pledge to retain more hi-tech jobs in the U.S., a federal agency run by a hand-picked Obama appointee has launched a $36 million program to train workers, including 3,000 specialists in IT and related functions, in South Asia.

Asian Call Center Workers Trained With U.S. Tax Dollars - Global-cio - Executive insights/interviews - Informationweek

Now It's Armenia: USAID Funds IT In Eurasia

Among other things, Armenia is looking to establish itself as a center for low-cost IT and engineering work outsourced from the U.S. and other Western countries.

USAID, a taxpayer-funded federal agency, did not disclose how much it's contributing to Armenia's efforts to become a global IT competitor. Among the U.S. companies participating in the project is Oracle's Sun Microsystems unit.

Now It's Armenia: USAID Funds IT In Eurasia - Storage - Disaster recovery/business continuity - Informationweek

 

[asterism]

Bain Capital 'purchased' KB Toys for the respectable price of $ 305 million dollars on December 8, 2000.

Bain Capital only offered $ 18 million in cash, the rest was leaveraged debt put on the company.

Sixteen months after the buyout, Bain Capital paid itself $85 million in dividends in early 2002.

January 14, 2004, K·B Toys filed for Chapter 11 bankruptcy protection and closed 365 stores.

Three years later the rest of the 156 stores were closed down.

KB Toys - Wikipedia, the free encyclopedia

Romney wasn't at Bain in 2000.

Romney is a permanent board member. He makes millions every year from Bain.

Nice try, though.

Romney's retirement

The first two words in that quote, "Romney and Bain," raise the first question: How was Romney involved with Bain in 2000?

He had retired from the firm in February 1999 to help organize the Salt Lake City Winter Olympics.

Charlyn Lusk, who does public relations for Bain, pointed to a fact-check this week by Fortune that said, "Romney left Bain in 1999 and had no operational role thereafter. It is true that he remained an investor, but so did dozens of university endowments, private foundations and pension systems. None of them played a part in Bain's investment decisions or portfolio company management."

Toy industry analysts paint a different picture. KB's model worked in the 1980s. But those puppets would have been crying by the late 1990s.

"KB was for many years in a precarious position because of where it was in the industry. It wasn't able to compete on price," said Sean McGowan a senior leisure and lifestyle analyst for Needham & Co. "... If you layer on financial strain, that could push it to the breaking point."

The financial strain helped lead to the bankruptcy filing.

But even with no debt, it would have been losing money, said Jim Silver, editor-in-chief of Time to Play magazine.

"Their business model was obsolete," he said. "The world had changed. KB had not changed."

PolitiFact | Video blames Bain Capital for demise of KB Toys

Keep trying.

Are the pensions who benefited from Bain going to get your scorn?

 

[Chris]

Republican presidential candidate Mitt Romney amended his personal financial disclosure Friday evening to reflect income from a now-closed Swiss bank account and one other investment fund he had originally failed to report on an ethics form.

A review by the Los Angeles Times/Tribune Washington Bureau last week found that at least 23 funds and partnerships listed in the 2010 tax returns of Romney and his wife did not show up or were not listed in the same fashion on Romney’s most recent financial disclosure, including 11 based in low-tax foreign countries such as Bermuda, the Cayman Islands and Luxembourg.

Romney adds Swiss bank income to disclosure form - latimes.com

 

[asterism]

The reason Romney doesn't want to release his tax returns is because he illegally evaded taxes.

Amazing that you say that without proof but for some reason the IRS isn't as good as you?

 

[Chris]

Mitt Romney should disclose 10 years of his tax returns. He should disclose exactly how much personal wealth he achieved through investments in firms that destroyed American jobs. He should disclose exactly how many offshore accounts he used, in Swiss banks and the Cayman Islands, and any other tricks his highly paid advisers found for Mitt to minimize his taxes, for his profits from destroying American jobs.

The Romney tax return cover-up must end.

Romney cover-up of his tax returns, offshore tax shelters and outsourcing profits must end - The Hill's Pundits Blog

 

[Conservative]

I hear Wisconsin is outsourcing Walkers indictment... any day now.

 

[asterism]

Republican presidential candidate Mitt Romney amended his personal financial disclosure Friday evening to reflect income from a now-closed Swiss bank account and one other investment fund he had originally failed to report on an ethics form.

A review by the Los Angeles Times/Tribune Washington Bureau last week found that at least 23 funds and partnerships listed in the 2010 tax returns of Romney and his wife did not show up or were not listed in the same fashion on Romney’s most recent financial disclosure, including 11 based in low-tax foreign countries such as Bermuda, the Cayman Islands and Luxembourg.

Romney adds Swiss bank income to disclosure form - latimes.com

All perfectly legal.

 

[Stephanie]

I hear Wisconsin is outsourcing Walkers indictment... any day now.

 

[Chris]

Mitt Romney is now flatly refusing to release any earlier tax returns. And he has taken an extension on his 2011 tax return, allowing him to delay filing and disclosure of that return until mid-October. That would allow just days before the November 6 general election to analyze any disclosed return in the final stretch of the campaign. He can also request an additional extension of time to file, which would delay his actual filing and any disclosure until after the November 6 election.

It’s probably no coincidence that when releasing his 2011 tax return, President Obama also re-released his tax returns from the previous 11 years starting in 2000. Mitt Romney’s father, Michigan Governor George Romney, also released 12 years of income tax returns when he ran for President back in 1968.

Cagle Post » Where Are Romney

 

[Political Junky]

Yeah, take it up with Jeffrey Immelt...

He's a Republican and sent jobs overseas too.

And?

He's head of GE, which paid NO taxes, AND he's good buds with your hero Obama, including being his "Jobs Czar".

But cons are against taxes, right?

 

[Chris]

Romney quote....

" he's(Obama) out of touch. he's out of touch in part because he never had the experience of working in the private sector and seeing what it takes to start a small business , how a business decides to grow. when they decide to shrink, when they decide to send jobs overseas..."

When did you decide to sent jobs overseas, Mitt?


http://video.msnbc.msn.com/martin-bashir/47894334/#47894334