Why is Romney not disclosing his returns?

PHOENIX TRADING · Aug 16, 2012

Quote from hughb:

This is starting to look like a ruse by a Romney campaign operative. Harry Reid would not be stupid enough to make such a brash statment unless he thought he had seen Romney's returns. Could they have been false returns designed to get Reid to do exactly what he did?

Either that I have overestimated Reid's intelligence.

He's a democrat "how smart could he be?".

bigarrow · Aug 16, 2012

Quote from PiggyBank:

Unreal dude, you didn't read the post and you are completely wrong. Max posted this link http://www.selfdirectedirasforlife.com/mit-romneys-ira-investments-garner-public-interest/ stating that Romney was allowed pretax money into Bain deals. Again you don't know exactly what he, ROMNEY, was invested in. The fund returns do not necessarily equal Romney's returns. He could have picked only deals he saw as worthy, it doesn't mean he was invested in the funds available to investors. Again I posted this link: http://thela25.com/blog/how-create-100m-self-directed-ira, which states that Bain had a self directed 401k plan with an annual contribution of 30k.

"Rollover. It appears this was a major part of his strategy. Geoffrey Rehnert, a former Bain Capital partner who helped found the firm in 1984, said in that era it had a 401(k) plan that allowed employees to invest pretax dollars in its deals. Bain's 401(k) plan was self-directed and wasn't restricted to the usual set of mutual funds that most Americans are limited to. In 1984, the self-directed 401(k) structure allowed Mr. Romney and Bain to contribute up to $30k per year into his account. I'm guessing Mr. Romney took full advantage and maxed his contributions. Then once he built his fortune in the 401(k) plan, he did a 401(k) rollover into a self-directed IRA. But $100M is still a LOT of money when you can only put away $30k per year." He could have been invested in ANYTHING not necessarily just Bain funds or deals.

It is speculation that Romney had and funded this 401k, but if he did for 16 years it DRAMATICALLY changes the avg compounded RoR he needed to achieve 100m, which we still don't know for sure that he has in his IRA. If he began contributing in '84 the full 30k starting at the beginning of each year for the first 16 years and then rolled over to a an IRA and contributed ONLY 2k/year he only needed an avg 27%/year compounded. This is assuming he didn't even have an IRA at the same time as the 401k. The possibilities are endless. Your line about rollovers being irrelevant is unbelievably FALSE.. check your math. Also, like Phoenix said, leveraged instruments ARE still available in certain plans, like self directed 401k's and IRA's.

Reality is, it isn't only possible that Romney achieved 100m LEGITIMATELY in his IRA, it is many many times more likely than your assertion that he cheated. A baseless accusation on your part which you stated with certainty and are now defending irrationally.

You're too gullible, I'll remain doubtful until I see a real breakdown, not the fiction you guys are posting.
How large is your IRA, being a big successful trader, you're probably close to $100 mil too.

murray t turtle · Aug 16, 2012

Quote from noob_trad3r:

The non disclosure is doing damage. more damage than disclosure. Unless

So something makes no sense.

#1 if he barely paid any taxes, so what if he releases ...

Any other theories?

========
Yes,Trader3 ;
what business is it really of anybody in USA??.Thats between him , the IRS, & his CPA

I like Mitt Romney, even though he inroduced VP Rep Ryan as the ''next president,''LOL.

But Judicial Watch may need to keep any eye on coffee futures if he wins. Mormans generally hate coffee

John Moses Browning [gunmaker/ genius]was a Morman, so thts not really a slam on all Mormans. I wish John Moses Browning had gone to a Baptist Church all his life,...

PiggyBank · Aug 16, 2012

Quote from bigarrow:

You're too gullible, I'll remain doubtful until I see a real breakdown, not the fiction you guys are posting.
How large is your IRA, being a big successful trader, you're probably close to $100 mil too.

Just when I thought the responses couldn't get any more stupid. You guys have absolutely NO EVIDENCE whatsoever that he placed ARTIFICIALLY DEFLATED ASSETS into his IRA. none. It is a wild fantasy. Yet I'm gullible for pointing out how it's entirely mathematically possible, in countless ways, that he did it without cheating? You see the insanity here right?

You are literally just assuming it isn't doable, but you didn't found and run a successful private equity firm, he did. By the way didn't hilary clinton have quite a few years of above avg market returns? What do you think about that, you think she is capable of it but not Romney, who did it for a living.

And i'm not a big trader as I've stated before.

mrbill · Aug 16, 2012

Look, I could care less about how much money Romney made, or his legal tax rate.

Much more here, and it's so damn obvious. Only a FOOL would hide his taxes at this point in time, and we don't ever want a FOOL in the White house as President.

All you ABO guys have to admit that this is stupid. Everyone is telling Mitt to release his tax returns, if he doesn't, then he's toast. And, maybe there is enough in them to make him burnt toast.

PHOENIX TRADING · Aug 16, 2012

Quote from mrbill:

Look, I could care less about how much money Romney made, or his legal tax rate.

Much more here, and it's so damn obvious. Only a FOOL would hide his taxes at this point in time, and we don't ever want a FOOL in the White house as President.

All you ABO guys have to admit that this is stupid. Everyone is telling Mitt to release his tax returns, if he doesn't, then he's toast. And, maybe there is enough in them to make him burnt toast.

#1) we might not want a fool in the wh but it sure hasn't stopped us.
evidence jimmy c , barry whatshisname.

2) I don't care anything about mitts tax returns, it's confidential information . There's a much stronger case for releasing tax returns once elected and zero case before holding office.

bigarrow · Aug 17, 2012

Quote from PiggyBank:

Just when I thought the responses couldn't get any more stupid. You guys have absolutely NO EVIDENCE whatsoever that he placed ARTIFICIALLY DEFLATED ASSETS into his IRA. none. It is a wild fantasy. Yet I'm gullible for pointing out how it's entirely mathematically possible, in countless ways, that he did it without cheating? You see the insanity here right?

You are literally just assuming it isn't doable, but you didn't found and run a successful private equity firm, he did. By the way didn't hilary clinton have quite a few years of above avg market returns? What do you think about that, you think she is capable of it but not Romney, who did it for a living.

And i'm not a big trader as I've stated before.

I didn't say anything about deflate assets. I am doubtful Romney turned a $ 167 a month IRA for a decade or more into $ 100 million dollars. I'll believe it when I see it.

PHOENIX TRADING · Aug 17, 2012

Quote from bigarrow:

I didn't say anything about deflate assets. I am doubtful Romney turned a $ 167 a month IRA for a decade ...

With that,
I guess we know more about your IRA than we needed to

PHOENIX TRADING · Aug 17, 2012

People like cheeze-whiz arrow, tre-stump, free filcher, mrs bill , zero-current will never be satisfied.

Even if he did release every single years tax returns it won't list all transactions in his IRA and if it did their ignorance demonstrated thus far indicates they still wouldn't be able to figure it out.

achilles28 · Aug 17, 2012

Quote from noob_trad3r:

The non disclosure is doing damage. more damage than disclosure. Unless

So something makes no sense.

#1 if he barely paid any taxes, so what if he releases it it will be a big yawn and everyone would think "I knew that" and end of story.

The only thing I could think is he broke the law and has committed tax evasion. Releasing returns would put him liable for charges.

Any other theories?

Romney's rich as fuck (>200 Million). He made it on 'Wallstreet'. Wallstreeters are hated and blamed for the economic crisis. In this climate where the public wants their pound of flesh from bankers, it doesn't make a lot of sense for Romney to wear his resume on his sleeve.