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Romney Failed to Disclose Swiss Bank Account Income

SandEagle

Lifer
http://abcnews.go.com/Blotter/romne...account-income/story?id=15447680#.TyHiO_nZFf9

Mitt Romney's campaign is amending the financial disclosure form he filed in 2011 to acknowledge that a Romney trust earned interest income from a Swiss bank account, a detail that had been missing from the report.
"An amendment is being filed to address this minor discrepancy," a campaign official told ABC News in an email Thursday in response to questions about the apparent omission.
"The inescapable fact is that by releasing over 600 pages of information regarding his finances, Mitt Romney is clearly coming down on the side of disclosure," said Andrea Saul, a campaign spokeswoman, in a subsequent statement. "Any document with this level of complexity and detail is bound to have a few trivial inadvertent issues. We are in the process of putting together some minor technical amendments, which will not alter the overall picture of Gov. and Mrs. Romney's finances as disclosed in August."
The discovery that the Romneys had $3 million in an account with the Swiss bank UBS came only after the Republican presidential candidate released his tax returns for 2010 on Tuesday. The campaign had maintained that it was not necessary to disclose the Swiss account because Romney's money manager, Brad Malt, had shuttered it in early 2010.

well, to be fair $3 million is chump change to these rich folks. it's like me forgetting about the tree fiddy in change i dropped under the couch cushion :hmm:
 
The issue here is not the $3 million, but the $1,700 it generated in income.

Compared to the rest of his income that is trivial.

Viper GTS
 
Wow, he can't even keep up with all his own money, and he wants us to trust him with ours. Oh, the irony. LOL

actually thats the federal reserve chairman's job. and im afraid that ben bernanke keeps his job if romney becomes the president.
which means expect quantitative easing 4 and more bank bailouts in your future. i need no crystal ball for that.

which means greater debt and greater chance for hyper-inflation. you want to be post ww1 germany??
 
actually thats the federal reserve chairman's job. and im afraid that ben bernanke keeps his job if romney becomes the president.
which means expect quantitative easing 4 and more bank bailouts in your future. i need no crystal ball for that.

which means greater debt and greater chance for hyper-inflation. you want to be post ww1 germany??

Oh, Gawd! we're gonna be jes' like Zimbabwe!

Not.

http://www.usinflationcalculator.com/inflation/current-inflation-rates/

The sad truth is that inflation was really a lot higher during the Bush years than the graph shows. That's because inflation calculations don't use real house prices, but rather rent equivalents.
 
Oh, Gawd! we're gonna be jes' like Zimbabwe!

Not.

http://www.usinflationcalculator.com/inflation/current-inflation-rates/

The sad truth is that inflation was really a lot higher during the Bush years than the graph shows. That's because inflation calculations don't use real house prices, but rather rent equivalents.
Inflation is increase in the credit/money supply not price increases.

Besides, you're missing the point. The debt is increasing and is being more monetized. That will result in hyperinflation because Obamaney would never sell off the military weapons and national parks system.
 
Inflation is increase in the credit/money supply not price increases.

Besides, you're missing the point. The debt is increasing and is being more monetized. That will result in hyperinflation because Obamaney would never sell off the military weapons and national parks system.

You seem to be able to bridge gaping holes between premise & conclusion in a single leap of faith... firmly believing your own bullshit as you drift across on the breeze of fantasy.
 
I don't see this amended disclosure as an issue, at all.

It just shows that Romney is so freaking rich that he has little idea where all his money is, and that he needs an army of accountants, fallible human beings, to keep track of it for him.

His financial disclosure is over 600 pages- few forum members could cover more than a few pages, and even then we might forget that small savings account where we put the spare change for the kids when they grow up...
 
Oh, Gawd! we're gonna be jes' like Zimbabwe!

Not.

http://www.usinflationcalculator.com/inflation/current-inflation-rates/

The sad truth is that inflation was really a lot higher during the Bush years than the graph shows. That's because inflation calculations don't use real house prices, but rather rent equivalents.

Inflation is typically overestimated, not under estimated. Inflation doesn't fully take into account advances in technology, nor the changes in purchase people make. Most economist will tell you inflation is overestimated, not underestimated. A computer today is not the same as one 5 years ago.
 
Inflation is typically overestimated, not under estimated. Inflation doesn't fully take into account advances in technology, nor the changes in purchase people make. Most economist will tell you inflation is overestimated, not underestimated. A computer today is not the same as one 5 years ago.

The flimflam ownership society of the housing boom was not "typical".

Rents, & therefore rent equivalents, lagged far behind the effects of deregulated finance on explosive housing prices. They're still using rent equivalents even when housing prices have been falling, throwing a blanket over what is basically deflation.

Deal with it.
 
The flimflam ownership society of the housing boom was not "typical".

Rents, & therefore rent equivalents, lagged far behind the effects of deregulated finance on explosive housing prices. They're still using rent equivalents even when housing prices have been falling, throwing a blanket over what is basically deflation.

Deal with it.

What you say runs counter to what every major economist says. You cannot just make a claim like that that runs counter to what experts say.

A $1000 computer today is not the same as $1000 computer 5 years ago, but they are treated the same in calculating inflation.

Rent Equivalent is used because it is more stable and better reflects inflation in the long run. Again your assumptions runs counter to basically every major economist.
 
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Probably not a big deal... but since conservatives made such a huge issue out of the tax discrepancies of proposed members of Obama's cabinet...
 
I had no idea he was making ~$56k a day. Now that's rich. He'll apply his techniques and knowledge to make the whole country that rich if he's elected, right?
 
Seriously, are we STILL bitching about Mitt's finances? Good gawd why can't everybody get off Mitt's dick?

He's rich, we get it. Leave him the fuck alone and get to the real issues.
 
What you say runs counter to what every major economist says. You cannot just make a claim like that that runs counter to what experts say.

A $1000 computer today is not the same as $1000 computer 5 years ago, but they are treated the same in calculating inflation.

Rent Equivalent is used because it is more stable and better reflects inflation in the long run. Again your assumptions runs counter to basically every major economist.

Yeh, but a 2001 $200K house that resold for $400K in 2006 and recently sold again for $200K is still the same house. And the rent on similar houses didn't change to reflect that, at all. Rents didn't double with housing prices, nor were they cut in half when the price fell, either.

When we substitute actual housing prices for rent equivalents, things look much, much different-

http://caps.fool.com/Blogs/cpi-housing-prices-and-the/613313
 
What you say runs counter to what every major economist says. You cannot just make a claim like that that runs counter to what experts say.

A $1000 computer today is not the same as $1000 computer 5 years ago, but they are treated the same in calculating inflation

incorrect! product enhancements are calculated into the cpi. even extra vitamins and packageing to enhance freshness of your favorite ready to eat breakfast cereal has a dampening effecton the cpi.
 
Seriously, are we STILL bitching about Mitt's finances? Good gawd why can't everybody get off Mitt's dick?

He's rich, we get it. Leave him the fuck alone and get to the real issues.

It's hard for me to focus on the real issues when his wealth causes me to view him as some sort of demigod.
 
incorrect! product enhancements are calculated into the cpi. even extra vitamins and packageing to enhance freshness of your favorite ready to eat breakfast cereal has a dampening effecton the cpi.


No it doesn't, please learn how CPI is calculated. This is one of the main reason why economist estimate that CPI overstates inflation by around 1% a year on average. Because of its fixed goods and lack of adjustment for advancement in technology.
 
I thought this was about his secret Swiss bank account where he kept all his South African Krugerrands he made while shipping slaves to china in payment for the Heroin trades.....



Silly me, this is just missing a static safety net that earned a few thousand in interest.

The ONLY thing this says is that Mit is rich enough that $3M escaped his notice.
 
Seriously, are we STILL bitching about Mitt's finances? Good gawd why can't everybody get off Mitt's dick?

He's rich, we get it. Leave him the fuck alone and get to the real issues.

It is an issue when he proposes that we lower the tax rate for him and those like him. I guess 13.9% tax rate isn't low enough for mittens.
 
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