Friday, July 13, 2012

BloggeRhythms 7/13/2012

A short article in the Associated Press website this morning got my attention.

According to them, Bill Clinton says Romney's record as the head of private equity firm Bain Capital is fair game and taking a microscopic look at Romney's finances is "just as relevant as going over my record as governor when I ran for president."

He then states that voters "ought to make up their own mind" whether they support someone who apparently sought to minimize his federal tax liability by parking large sums of money overseas.

And that’s when Clinton’s own total lack of knowledge regarding finance came back to mind. Because as I recall he and his wife lost their life savings, paltry as it was, in the Whitewater scam when they were fleeced like sheep. He also fortunately chose to keep Alan Greenspan on as head of the Fed. However, I doubt Clinton himself ever actually understood anything told him about the money supply or whatever else Greenspan said.

But, coming back to Romney’s actions at Bain, I think the subject indeed should be publicized even more than it has been. Because it’s a very big plus for Mitt, whereas his reasons for parking funds overseas stem from ridiculous tax laws here that sorely need to be changed.

However, there’s also another aspect of the situation I believe voters ought to consider which regards basic intellect. Because if one works as hard as possible to build a financially successful enterprise and then simply hands the profits to the government without trying to minimize its exposure, exactly how stupid is that? Consequently, by demonstrating fiscal responsibility and doing what’s strategically best, Mitt Romney’s enhanced his credentials.

On the other hand however, if he wants to compare financial performance and success, I think Bill Clinton ought to measure Mitt Romney’s stellar record at Bain to the current administration which to date has lost taxpayers almost 16 trillion dollars and climbing. And that’s because, financially, that bunch of clueless clowns is surely a world class disgrace.

That’s it for today folks.

Adios

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