GREED! Mitt Romney Gets Tax Break Off Firm Sending Jobs To China GREED!

[courseofhistory]

No wonder this

POS is not helping the people in IL save their jobs!!

I can still hear him in the 2nd debate. "Government doesn't create jobs." over and over again interrupting Obama. And his constant mantra of "I know how to create jobs." I call BS! Sensata workers last week begged him to come talk to them in IL when he was close by and to help save their jobs (the did so on national TV) and what did Romney do? NOTHING!

Mitt Romney Gets Tax Break Off Firm Sending Jobs To China

WASHINGTON -- Sensata Technologies is a healthy manufacturing company that employs nearly 200 workers at a factory in northern Illinois. The company has become the focus of national attention because it has been taken over by Bain Capital, which plans to shut the factory down, lay off the workers, and outsource the production to China before the end of the year.

The workers have pleaded with GOP presidential candidate Mitt Romney, the founder of Bain Capital, to exert his considerable influence to save their jobs. Romney still makes millions each year in income from Bain. So far, he has declined to weigh in, and the factory is scheduled to close by the end of the year.

While the workers and the town may suffer, Romney himself has done well as a result of Bain's work with the company. According to his recently released 2011 tax returns, Romney transferred $701,703 worth of Sensata stock to the Tyler Charitable Foundation, a 501(c)3 tax-exempt nonprofit controlled by Romney. The gift is listed on page 323 of the pdf, on form 8283 (below).

Moving the stock to his nonprofit brings Romney twin benefits. First, he gets to deduct the full value of the stock. At a 35 percent tax rate, that's nearly a $250,000 benefit. At 15 percent, it's just over $100,000.

Second, Romney is able to avoid paying capital gains taxes on the stock price increase. Romney's returns list no cost for the stock, and indicate he obtained them as part of a partnership interest in Bain. Avoiding capital gains taxes on the full increase would save an additional $100,000. In 2010, Romney gifted $170,000 worth of Sensata stock to his charity, saving $25,000 in capital gains taxes that year.

Cheryl Randecker, a Sensata worker facing an imminent layoff, said, "I could pay off my house with that [$25,000], and he doesn't need it anyway"]

 

[Moonglow]

since when did corporate assholes ever care about the worker or the family of the worker?

 

[blastoff]

Keep trying there, course.

But the way things are going HQ will probably pull you cyber clowns before the election.

 

[CrusaderFrank]

Romney plans to outsource most Progressive to China

 

[courseofhistory]

This is proof positive that Romeny does not create jobs. He sends them overseas to benefit his bottom line. He is a liar and hypocrite.