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Showing blog posts tagged with offshoring

Tell Us What You Think: What's Romney Trying to Hide by Not Releasing His Tax Returns?

Tell Us What You Think: What's Romney Trying to Hide by Not Releasing His Tax Returns?

Unlike nearly every other presidential candidate, Republican Mitt Romney refuses to make public more than two years of tax returns. Today, the multimillionaire said he has paid a tax rate of at least 13 percent on his income in each of the past 10 years—but he still won't release his returns. Meanwhile, President Obama's returns have long been public and show he pays a 20 percent tax rate.

At a measly 13 percent, Romney, who is worth a quarter of a billion dollars, is paying significantly less in taxes than other high-income earners who pay 35 percent. Through the use of offshore tax shelters and other means, Romney pays a smaller tax rate than average taxpayers like nurses, firefighters and construction workers.

In more than three decades, no other nominees for either party—except Sen. John McCain (R-Ariz.)— have released fewer than five years’ worth of returns. Romney’s own father released a dozen years’ worth when he ran for the Republican presidential nomination in 1968.

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Romney Business Model and Economic Policy: Blueprint for Weak and Unjust Economy

The business model on which Mitt Romney built his private-equity, outsourcing career and fortune at  Bain Capital “has made our economy weaker and our society more unequal; it has hollowed out our tax base, and it has wreaked havoc on our communities,” said the AFL-CIO Executive Council in a statement from its August meeting this week in Washington, D.C.

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Romney Plan: Hike Middle Class Taxes, Outsource Jobs

Those of us in the middle and working classes will see our taxes raised big time if Mitt Romney is elected president, according to a new report released today by the Center for America Progress at a day-long event examining Romney’s proposals. Romney is proposing a set of so-called tax reforms that would increase taxes for 18 million working families, meaning an average income couple with two kids would pay $850 per year more in taxes.

In sharp contrast, Romney would gain $4.5 million in tax cuts in just the first year, and rake in more than $100 million in tax breaks over his lifetime (click chart at left to expand).

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Romney's Record as Governor: F Minus

Romney's Record as Governor: F Minus

At a time when creating jobs in this nation is top priority, Mitt Romney is running for president on a record in which Massachusetts under his years as governor was 47th in job creation. Worse, Romney apparently didn’t care—when state customer service call center jobs were outsourced to India, Romney vetoed legislation to stop the practice.

This and more info on the Romney record are available at our new Meet Mr. 1% website.

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Meet Mr. 1%: Here’s What You Say

Last week we launched our Meet Mr. 1% website with shareable infographics on Mitt Romney’s record as a state governor, his overseas bank accounts and his economic attack plan that would harm working families. The graphics also highlight, with Romney at its helm, that Bain killed and outsourced jobs and pushed companies into bankruptcy.

Here are some of the “greatest hits” remarks from our commenters. John DeRosier writes:

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Super Rich Have Hidden at Least $21 Trillion in Offshore Accounts

Super Rich Have Hidden at Least $21 Trillion in Offshore Accounts

Instead of investing in the economy and creating jobs, the global elite super rich (the .001%) stashed their assets in offshore tax havens. Mitt Romney has offshore accounts in Australia, Bermuda, the Cayman Islands, Germany, Ireland, Luxembourg and Switzerland.

new report from the Tax Justice Network estimates the amount of wealth sitting in offshore accounts is at least $21 trillion and as much as $32 trillion.

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Senate Republicans Say ‘Don’t Bring Jobs Home’

Senate Republicans Say ‘Don’t Bring Jobs Home’

Given the choice between supporting American workers or the corporations that ship U.S. jobs overseas, Senate Republicans sided with the job exporters today and blocked a vote (56-42) on the Bring Jobs Home Act. That’s not a surprise to Senate Majority Leader Harry Reid (D-Nev.):

It's no surprise Republicans are on the side of corporations making big bucks sending American jobs to China and India. After all, their presidential nominee, Mitt Romney, made a fortune outsourcing jobs, too.

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Mr. 1%—The Wrong Way to Get Rich

Mr. 1%—The Wrong Way to Get Rich

Some people get rich the old-fashioned way—hard work. Mitt Romney—Mr. 1%—got rich the new-fashioned, wrong way. As head of Bain Capital, he’d swoop down on companies like Ampad and GS Industries, pull out tens of millions of dollars in dividends, declare bankruptcy and kill thousands of jobs.

And that’s just the part of the story of how Romney got rich the wrong way. Check out our new Meet Mr. 1% website for a closer look.

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Tell Your Senators to Bring Jobs Home

Wisconsin AFL-CIO Photo

Time is running out. Tomorrow (Thursday) the U.S. Senate will vote on the Bring Jobs Home Act (S. 3364 [formerly S. 2884]). Make your voice heard in the battle to stop corporate tax breaks for firms that export American jobs overseas and reward companies that bring jobs home.

Call your senators at 888-659-9401 and urge them to support the Bring Jobs Home Act.

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Video: Nevada State AFL-CIO Urges Sen. Heller to 'Bring Jobs Home'

Nevada has the highest unemployment rate at 12 percent and the highest foreclosure rate in the state. Workers in the building trades industry are experiencing 60 percent to 90 percent unemployment. 

This is why Danny Thompson, Nevada State AFL-CIO executive secretary-treasurer, and local unions gathered outside the office of Sen. Dean Heller (R-Nev.) last week to ask him to support the Bring Jobs Home Act (S. 3364 [formerly S. 2884]), which is expected to get a vote on Thursday. Watch the YouTube video here

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