Saturday, October 6, 2012

How Rich Is Mitt Romney?

There are big questions about the wealth of Mitt Romney, since he won't release his tax returns.  But one reporter for Bloomberg does an analysis, and concludes that "the $250 million figure underestimates Romney’s true wealth."
But exactly how wealthy is Romney? The figure that gets tossed around is $250 million in net worth — meaning the total value of his assets, financial and others, minus any debts. .

It’s a big number, but frankly, it seems low. Given the industry in which he made his fortune (private equity), the era when he made it (the 1980s and 1990s) and the wealth of his peers in that business (mostly billionaires), Romney should be worth a good bit more than that.... .

Romney’s net worth of $250 million is an estimate provided to the media by his campaign, and it is in line with the $254 million maximum value of his financial assets found in his June 1 presidential-candidate disclosure form. Yet this form is a masterpiece of obfuscation, in large part because it allows for absurdly wide ranges of value, with little specificity. .

The form shows that Romney has about $31 million in cash and between $250,000 and $500,000 worth of gold, and that less than a quarter of his financial assets are related to Bain. The form excludes his homes in California, Massachusetts and New Hampshire. It also excludes the (perfectly legal) tax-avoiding trust he established in 1995 for his children and grandchildren that Bloomberg estimates contains $100 million. But it includes his 1996 charitable remainder trust (listed with a value of less than $50,000 in cash), four speaking fees totaling $190,000, and both his and his wife Ann’s blind trusts and individual retirement accounts. .

Romney’s IRA, valued between $21 million and $102 million, must contain a portion of his profits — or “carried interest,” in private-equity speak — from myriad Bain deals. He put the carried interest in his IRA when it was valued at a nominal amount and then, through the financial alchemy of leveraged buyouts, watched its value soar. .

It would be illuminating to know precisely how many millions Romney still has in Bain’s private-equity funds, in various Goldman Sachs hedge funds and in hedge funds managed by his son Tagg or his former partner David Dominik — rather than the amorphous “greater than $1 million” disclosure.
Can this guy even begin to relate to my economic situation, let alone those who are actually poor?  And isn't one of the big problems over the last 30 years that the wealthy have tilted the economic playing field in their direction, such that the median family income and the jobs available to them have declined, while the wealth and income of the rich have soared into the stratosphere?

1 comment:










  1. =======================================
    ccc325111112b298Here are best materials for you!
    John Smith Mar 23, 2018 at 8:36 PM
    LEARN HOW TO BECOME MILLIONAIRE ONLINE
    This is one of best online course about how to become millionaire online.
    It is difficult to become a millionaire, so perhaps this course is only rated 4.4*.
    Source: How to become millionaire online in one year






    Jennifer Lee Mar 21, 2018 at 7:36 PM
    LEARN FREE HOW TO MAKE MONEY ONLINE BY AFFILIATE MARKETING
    This is a free course by Affilorama, the leading internet marketing academy, rated 4.7 * by 87k+ students.
    source: Free training affiliate marketing online









    Juan Carlos Mar 27, 2018 at 8:36 PM
    12 SECRETS TO GET ANY GIRL TO LIKE YOU
    This is one of top secrets that help you get any girl to like you.
    Rated 4.7* by 5600+ students.
    Link: 12 secrets to get any girl to like you







    Mike Jones Mar 29, 2018 at 9:36 PM
    LEARN FREE PIANO ONLINE:
    This course is organized by LearnPianoIn30Days. This site offer 14 days free training for only $1.
    More details: $1 Trial to learn piano in 14 days







    David Smith April 1, 2018 at 10:36 PM
    13 SECRETS TO CAPTIVATE ANY MAN:
    This is one of top secrets that help you get any girl to like you.
    Rated 4.7* by 5600+ students.
    Link: 13 secrets to captivate any man







    Emma Emily April 2, 2018 at 10:36 PM
    LEARN FREE GUITAR ONLINE:
    This course is organized by Play Worship Guitar. This site offer 21 days free training for only $1.
    More details: Trial 1$ learn guitar online in 21 days







    Peter Ho April 3, 2018 at 14:36 PM
    12 SECRETS TO BECOME FAMOUS MAGICIAN?
    This is best course online about how to become a magician!
    This training course offer free trial and 60 days money back guarantee
    Link: Trial to Learn Mentalism Effects and Magic Tricks





    Jennifer Tran April 3, 2018 at 19:36 PM
    HOW TO LOSE 1 POUND OF BELLY FAT EVERY 72 HOURS?
    yes it can. Bruce Krahn and Dr. Heinrick created this program specifically for men and woman.
    The core of the program is a formula by Heinrick that is supposed to work well against belly fat and its associated health issues
    Here are link: Link: Secrets to lose 1 pound of belly fat every 72 hours






    Brittany Jones April 3, 2018 at 19:36 PM
    HOW TO SELF-DEFENSE WITHOUT ANY MARTIAL ARTS TRAINING?
    yes it can. Real self-defense system, designed By Swat Team Leader, even without any martial arts training.
    Here are link: Link: 8 secrets for self-defense without any martial arts training






    Penny Albritton April 3, 2018 at 19:36 PM
    GET YOUR SEXIESTBODY EVER BY YOGA?
    Here are link: Link: 9 secrets to get your sexiest body ever by yoga





    ReplyDelete