Taxes key to Mitt Romney's '04 pitch to Standard & Poor's

Modbert

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Sep 2, 2008
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Taxes key to Mitt Romney's '04 pitch to Standard & Poor's - Ben Smith - POLITICO.com

Gov. Mitt Romney lobbied the credit ratings agency Standard & Poor’s in 2004 to raise his state’s credit rating in part because Massachusetts had raised taxes during an economic downturn two years earlier.

The claim was part of a presentation to the ratings agency obtained by POLITICO under a state freedom of information law from the Massachusetts Executive Office of Administration and Finance. The Nov. 4 presentation, stamped “confidential,” helped persuade S&P to raise the state’s grade and handed Romney the perfect talking point for last week’s humiliating national downgrade by the same agency.

The presentation to the ratings agency reveals that Romney’s administration made the case to Standard & Poor’s that his state was creditworthy because of both spending cuts — the current preferred GOP method — and new revenues, including fees he imposed and tax “loopholes” he closed. The presentation also prominently cited a controversial set of tax increases in the summer of 2002, which Romney, then a candidate, had opposed.

The documents, 27 pages of confidential “discussion materials” (Part 1, 2, 3, 4) and a 50-page presentation focused on the 2005 budget, don’t make clear whether Romney participated in the presentation. Eric Kriss, who served as Romney’s secretary of administration and finance, said he believed Romney and his top aides had delivered the presentation on a conference call with the ratings agency analysts.

Of course, there is much more to this story so feel free to read more after the jump. Personally, I would say this wouldn't surprise me one bit.
 
Taxes key to Mitt Romney's '04 pitch to Standard & Poor's - Ben Smith - POLITICO.com

Gov. Mitt Romney lobbied the credit ratings agency Standard & Poor’s in 2004 to raise his state’s credit rating in part because Massachusetts had raised taxes during an economic downturn two years earlier.

The claim was part of a presentation to the ratings agency obtained by POLITICO under a state freedom of information law from the Massachusetts Executive Office of Administration and Finance. The Nov. 4 presentation, stamped “confidential,” helped persuade S&P to raise the state’s grade and handed Romney the perfect talking point for last week’s humiliating national downgrade by the same agency.

The presentation to the ratings agency reveals that Romney’s administration made the case to Standard & Poor’s that his state was creditworthy because of both spending cuts — the current preferred GOP method — and new revenues, including fees he imposed and tax “loopholes” he closed. The presentation also prominently cited a controversial set of tax increases in the summer of 2002, which Romney, then a candidate, had opposed.

The documents, 27 pages of confidential “discussion materials” (Part 1, 2, 3, 4) and a 50-page presentation focused on the 2005 budget, don’t make clear whether Romney participated in the presentation. Eric Kriss, who served as Romney’s secretary of administration and finance, said he believed Romney and his top aides had delivered the presentation on a conference call with the ratings agency analysts.

Of course, there is much more to this story so feel free to read more after the jump. Personally, I would say this wouldn't surprise me one bit.

I guess its safe to assume Romney has your support/vote then? :eusa_whistle:
 
I guess its safe to assume Romney has your support/vote then? :eusa_whistle:

Nope. He came out recently and said he's against any plan that opens the door to higher taxes or defense cuts. Clearly Candidate Romney and Governor Romney have two different opinions on this issue.
 
I guess its safe to assume Romney has your support/vote then? :eusa_whistle:

Nope. He came out recently and said he's against any plan that opens the door to higher taxes or defense cuts.

So the point of this thread was what?

Like pointing out "raising the debt ceiling is a sign of failed leadership" only to ask for it to be raised later?
 
So the point of this thread was what?

Like pointing out "raising the debt ceiling is a sign of failed leadership" only to ask for it to be raised later?

The point of this thread is I'm wondering what has changed in seven years. After all, if it worked in Massachusetts in 2004, why not now in 2011?

Are all you going to do in this thread is defend Romney or do you actually have something to say on the topic?
 
So the point of this thread was what?

Like pointing out "raising the debt ceiling is a sign of failed leadership" only to ask for it to be raised later?

The point of this thread is I'm wondering what has changed in seven years. After all, if it worked in Massachusetts in 2004, why not now in 2011?

Are all you going to do in this thread is defend Romney or do you actually have something to say on the topic?

Perhaps because....................MASSACHUSETTS IS NOT AMERICA and its needs differ from that of the ENTIRE COUNTRY???????

But, per your request I will let your pointless drivel thread drop like a rock
 
Perhaps because....................MASSACHUSETTS IS NOT AMERICA and its needs differ from that of the ENTIRE COUNTRY???????

But, per your request I will let your pointless drivel thread drop like a rock

I never said that Massachusetts is America. However, governors usually take successful policies with them on the campaign trail. Romney however seems to be pandering to the base by saying no new taxes and no defense cuts.
 
And we all know republicans never lie about what they will do once elected.
 
Taxes key to Mitt Romney's '04 pitch to Standard & Poor's - Ben Smith - POLITICO.com

Gov. Mitt Romney lobbied the credit ratings agency Standard & Poor’s in 2004 to raise his state’s credit rating in part because Massachusetts had raised taxes during an economic downturn two years earlier.

The claim was part of a presentation to the ratings agency obtained by POLITICO under a state freedom of information law from the Massachusetts Executive Office of Administration and Finance. The Nov. 4 presentation, stamped “confidential,” helped persuade S&P to raise the state’s grade and handed Romney the perfect talking point for last week’s humiliating national downgrade by the same agency.
The presentation to the ratings agency reveals that Romney’s administration made the case to Standard & Poor’s that his state was creditworthy because of both spending cuts — the current preferred GOP method — and new revenues, including fees he imposed and tax “loopholes” he closed. The presentation also prominently cited a controversial set of tax increases in the summer of 2002, which Romney, then a candidate, had opposed.

The documents, 27 pages of confidential “discussion materials” (Part 1, 2, 3, 4) and a 50-page presentation focused on the 2005 budget, don’t make clear whether Romney participated in the presentation. Eric Kriss, who served as Romney’s secretary of administration and finance, said he believed Romney and his top aides had delivered the presentation on a conference call with the ratings agency analysts.
Of course, there is much more to this story so feel free to read more after the jump. Personally, I would say this wouldn't surprise me one bit.

We should care about this because...

I can't think of a reason.
 
I never said that Massachusetts is America. However, governors usually take successful policies with them on the campaign trail. Romney however seems to be pandering to the base by saying no new taxes and no defense cuts.

He points to it as a past success. He's not seeking to replicate that success.

Not openly, anyway. In reality, I don't think a post-primary Romney will be all that bad.
 

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