777MJJ · @777MJJ

16th Jul 2012 from Twitlonger

From the 2008 Presidential Primary - McCain's opposition research file on Mitt Romney publicly available:

Business Highlights:

 Romney spent most of his business career as CEO of private equity firm Bain Capital – as of June 2007 he maintained an investor’s stake in the company.

 Bain Capital has been criticized for relentless focus on bottom line at expense of workers and jobs.

 Romney describes himself as a “business legend” in his campaign ads and once said of himself: “I’m basically in the investor’s Hall of Fame.”

 Bain Capital and Bain & Co. employees donated at least $171,000 to Romney’s presidential campaign in Q1 2007 and gave tens of thousands more in support of his previous political activities.

 Bain Capital financed 1988 buyout with junk bonds issued by Drexel Burnham – when SEC filed charges against the firm and CEO Michael Milken, Bain Capital maintained their business relationship; Romney later reminisced about “the glorious days of Drexel Burnham.”

 In 2004, Bain & Co. received a multi-million dollar contract from the National Iranian Oil Company.

 Romney sat on board of directors of Bain portfolio company Damon Clinical Laboratories, which in 1996 was fined over $100 million for Medicare fraud committed during Romney’s tenure.

 Bain Capital owned company named Ampad that purchased an Indiana paper plant, fired its workers and offered to bring them back at drastically reduced salary and benefits – the firings became an issue in the 1994 Senate race when workers blamed Romney for their situation and appeared in Kennedy campaign ads.

 After Romney became governor, Bain Capital teamed up with Chinese appliance maker Haier Group in 2005 in effort to purchase Newton, IA-based Maytag Corp. and send jobs overseas.

 At least two Bain Capital companies – Stream International and Modus Media – focused on outsourced technical support services, expanding facilities abroad while contracting operations in the United States.

 Bain Capital operated steel company called GS Industries which went bankrupt in 2001 after years of labor strife, closing a plant in Kansas City and laying off over 700 workers.

Political Issues:

 In late 2002, Romney described himself as “a progressive-on-social-issues governor of Massachusetts.”

 Romney left the state GOP weaker than when he took over as governor, with the party described as being “at its weakest point in years.”

 During 1998 panel on urban issues, Romney addressed need for Boston business communities to work together and claimed “Hillary Clinton is very much right, it does take a village.”

 In 1994, Romney opposed the Contract with America without even reading it.

 Romney has made political contributions to Democratic candidates, saying he places friendship above politics.

 Romney appeared in 2003 TV ad endorsing Democrat Rocky Anderson – who has been outspoken in calling for President Bush’s impeachment over Iraq war – for reelection as Salt Lake City mayor; Romney featured an Anderson testimonial in his own TV ads while running for governor in 2002.

 Romney proclaimed he wasn’t a Republican during the Reagan years, saying “I was an independent during the time of Reagan-Bush. I’m not trying to return to Reagan-Bush.”

 Romney was an independent until deciding to run for the Senate in 1994.

 Romney voted for Paul Tsongas in the 1992 Democratic presidential primary.

 Romney has surrounded himself with policy advisers – like Gregory Mankiw, Vin Weber, Kerry Healey, Bill Weld and more – who do not share his beliefs on key issues.

 Top Romney campaign aides and surrogates have ties to several recent Washington ethics scandals.

 Romney’s spending decisions as chairman of the Republican Governors Association during 2006 election cycle “raised eyebrows” in light of his presidential aspirations.

Economic Issues:

 State spending increased at well over rate of inflation under Romney’s watch, estimated at 24% - more than $5 billion – over Romney’s final three years.

 Under Romney, Massachusetts dramatically underperformed the rest of the nation in terms of job growth.

 Romney has been criticized by experts for failing to deliver on issues of business development and economic growth after selling himself as the “CEO governor.”

 2006 report issued by quasi-public Massachusetts Technology Collaborative warned the state was losing its grip as leader in “innovation economy” and that tech job was alarmingly slow.

 Romney left his successor to fill a budget deficit exceeding $1 billion.

 Romney raised state fees and taxes more than $700 million per year, according to independent experts.

 Romney raised fees by roughly $500 million in his first year alone, a figure that was highest in the nation.

 Romney quadrupled gun licensing fees and raised fees on first responders, real estate transactions, the blind, golfers and many others.

 Massachusetts’ state and local tax burden rose more than 7% during Romney’s administration.

 Romney refused to endorse the Bush tax cuts in 2003, telling the state’s all-Democrat congressional delegation he wouldn’t be a cheerleader for the plan.

 Romney implemented three rounds of tax changes (which he referred to as “closing loopholes”) which increased business taxes by an estimated $400 million per year.

 Massachusetts’ corporate tax climate now ranks 47th in the nation, according to the Tax Foundation.

 Romney proposed – then backed away from – a new internet tourism tax that would levy higher taxes on users of sites like Orbitz and Travelocity.

 Romney enrolled Massachusetts in multistate compact aiming to end moratorium on internet sales taxes.

 Romney took no position on estate tax issue in 2002 and signed 50% increase in state cremation fee, which observers called “hidden tax on the dead.”


It is hoped that McCain's 2008 VP vetting file on Romney will be released. Allegedly, McCain had seen Romney's tax returns - all of them - and thus chose Sarah Palin instead as his running mate. Combined with Romney's unwielding obstenance in releasing them now, one very much has to wonder why.

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