Saturday, October 6, 2012

Newest Criticism Against Romney - He is Not Rich Enough!?!

These criticisms are comical; he is being attacked for being to rich and to poor at the same time. Just like when he was attacked for both not paying enough taxes and paying to much in taxes. When people do not buy your attack, the answer is not to attack them for the exact opposite, it is to move on to a new line. Better yet, talk about the real issues.

"Guess the debate and the ensuing polls are really panicking the liberals, eh?

Mitt Romney is worth $250 million. Why so little?
Mitt Romney is indisputably a very rich man. And if he is elected president on Nov. 6, he will become one of the wealthiest people ever to hold the office.

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.

Mitt Romney's $250 million net worth is much smaller than that of the other big players in the private-equity and leveraged buyout business, as listed in the latest Forbes 400 list of the richest people in America.

Only $250 million? Really?

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.

Why isn’t he?


The article then goes through his listed assets, suggesting that Romney might be understating his wealth, based on... well, nothing, really.

It then tries to dream up reasons why Romney shouldn't be richer. It doesn't credit any of them for being true. But one of the reasons pretty much explains it all -- the private equity market took off, and entered a "Golden Age," the year after Romney left Bain.

That pretty much ends the matter, doesn't it? The first billion is the hardest, and Bain only made its first billion right around the time Romney left. After that, Bain racked up the billions; but the first one was the tough one.

And then Romney left to pursue a career of public service.

But the writer is unconvinced.

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