mitt romney: 'i am not a wall street guy, classically defined' - build a room divider wall

by:EBUNGE     2019-09-06
mitt romney: \'i am not a wall street guy, classically defined\'  -  build a room divider wall
Des moines, Iowa--
Republican presidential candidate Mitt Romney said in an interview on Thursday that Bain Capital flowed into the company's funds during the 1980 and 90 s helm, none came from Wall Street, though he said he doubted whether the records of these things would be made public.
"I don't believe any money comes from Wall Street or investment banks or the like, and Romney told Huffington Post on his campaign bus, he raided the state before the start of next Tuesday's party group meeting, which kicked off the Republican primary process.
"Our money comes from individuals, and ultimately we get money from the church pension fund, the donation fund --
"I think our largest single investor base is a donation fund, a university," Romney said . ".
"Then we use these funds to start a business, venture capital, or try to acquire troubled businesses to make them stronger.
Technically, it's not Wall Street, it's not the function of an investment bank, it's financial services.
Romney's statement is a counter to the governor of Texas.
Rick Perry once said Romney was "part of Wall Street ".
Perry has not publicly stated that Bain's investors are Wall Street companies, but this is clearly a hint of his allegations.
Perry said in the Huffington Post
In December, "Bain Capital was part of the entire Wall Street structure.
"Romney co-founded Bain Capital in 1984 and worked for the private equity company for most of the next 15 years before heading to Salt Lake City to oversee 2002 Winter Olympics.
He continued as governor of Massachusetts from 2003 to 2007.
Bain is based in Boston, but Perry believes that because private equity companies often raise money from Wall Street institutions and banks, it is linked to the entire system.
"I don't think you have to have an address on Wall Street to be a part of Wall Street," Perry said . ".
He is more important that Romney's relationship with the world of high finance will make it easy to rescue troubled big companies or banks if he becomes president.
While Romney supports the 2008 bank bailout, he denies that some institutions are "too big to fail.
"I don't believe in the concept of being too big to fail," he said . "
"I believe that institutions have the capacity, if necessary, to restructure their obligations through bankruptcy.
When asked about Perry's comments, Romney alienated Wall Street, but did not escape.
"No matter what Wall Street is, I will not be a technical demarcation.
Wall Street is often regarded as an investment bank and banking industry. we are not an investment bank or a bank.
"But we are in the financial services industry as a whole," Romney said . "
"I'm not a Wall Street guy, it's a classic definition, but I'm not going to be picky about the definition.
"I can tell you that I have run four different businesses in my life.
One is a consulting company, one is a private equity and venture capital company, one is the Olympic Games and the other is the country.
"My records in these places prove this," he said . ".
Romney's lack of attention to the link with Wall Street is in line with his overall position in running.
He has talked many times in Iowa about the "opportunity society" that encourages achievement and profit "--
He made President Obama
A Liberal government that demonizes the rich and seeks to redistribute wealth to create a "right society.
"As for Mr. Romney's claim that no money came directly from Wall Street during Bain's tenure, a former principal Bain, who declined to be named, said it may not be the case.
He told the Huffington Post that Chase, Bankers Trust and Boston bank could all be Bain investors during Romney's reign.
But he added that he could not say so for sure.
Romney said he did not think Bain's record would be public.
"I don't know that Bain people will disclose their investors," he said in an interview . ".
Bain Capital has yet to respond to its request to comment on the disclosure of past investor policies.
Perry is not the only Republican to beat Romney in private equity.
Former Speaker of the House, Gingrich (R-Ga. )
Former governor of Utah
So did Huntsman.
Mr. Gingrich said Mr. Romney should take money out of deals that make people lose their jobs, but then apologized for that.
The Huntsman movement held a conference call with local government officials in New Hampshire to discuss the unemployment caused by Bain during its takeover of a company in the state.
Obama and Democrats have highlighted the fact that Bain's leveraged takeover practices, including raising funds to buy companies, and then restructuring them to get better returns, sometimes leading to layoffs.
Romney has also recently been criticised for saying that he does not intend to disclose his personal tax returns as every Republican presidential candidate in recent history has done.
He left some leeway for himself, saying that his plan "could change in the future" if he wins the nomination ".
One theory about why he doesn't want to disclose the return is that much of his income over the past decade has come from Bain's retirement plan, which pays him millions of dollars a year.
It is suspected that such income is taxed at a capital gain rate of 15%, rather than at the highest marginal rate of 35% of traditional income.
Democrats are already attacking Romney because he probably enjoys a lower tax rate, portraying it as an example of an unfair advantage over Americans who are far less wealthy than him. "Mitt Romney --
200 times millionaire
The Democratic National Committee said in a memo this week: "The tax rate paid is lower than that of many teachers, firefighters, police and other hard-working people in Iowa and across the country . ".
"Is this the idea of Mitt Romney helping the middle class?
Romney himself said in an interview with Charlie Ross earlier this month, "I'm not saying that our very wealthy people will get special breaks and will get better deals than anyone else.
The Huffington Post asked Romney if he thought he had received a "special break" through 190 of the tax, his value was estimated to be between $0. 25 billion and $ 15%, compared, many middle-class Americans earn 25%.
"You use the opportunity to be an American to build a bright future and pay taxes as required by law," Romney said . ".
If something is capital gains, you treat it as capital gains.
If something is ordinary income, it should be treated as ordinary income.
These things have been identified by Congress, the courts and the Internal Revenue Agency.
My wife and I have been following the law for the taxes we have paid.
"We can talk about how to make the tax law move forward better," he said . ".
Romney then referred to his own proposal to remove capital gains, interest and dividend taxes for Americans earning $200,000 a year or less.
"My own view is that people who are in good health
"In terms of tax help, tax relief help, vacations are doing well and there is no need for help," he said . ".
"The poor have a safety net that can help take care of them and need to be repaired from time to time.
But people in the middle class are in trouble, which is why my advice on taxes is to remove capital gains, interest and dividend taxes on the middle class
The income of Americans is not high.
Income of Americans
"Learn more from Romney's interview with The Huffington Post: he compared President Obama with Mary Antoinette and opened his heart to his faith,
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