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Updated on January 30, 2012

Why is he running?

Wall Street does not have a good name already, but Romney is making it worse, with what the executives like him are doing with the people's money; yes, the people's money.

The reasoning being that, if they are not paying the taxes that they are supposed to pay, and hiding their capital and profits in dishonest and fuzzy holdings, then they are robbing the country of its revenue needed to build a strong and vibrant economy, as well as having a National security and defense second to none.

Just look at what happened there this past Summer, and still in progress, with ordinary people showing their disgust and outrage, and spontaneously demonstrating that the chicanery going on with the financial institutions and corporations there needs to come to an end; hence, the "Occupy Wall Street" organization.

The acute unemployment and the sour economy have their roots in investment capital leaving the country and into foreign companies abroad. Those companies have industrial programs designed to build their own countries' economies. Thus, while a huge outsourcing was taking place, the American economy was weakening, and as such, causing the lack of employment to skyrocket.

By so doing, America got to be at the receiving end of the whip; and that was the backlash the country was experiencing presently, in terms of a weak economy and a high unemployment rate.

Romney and his Bain corporation operated under the notion of "streamlining" companies and getting paid large fees for the "service and advice" its (Bain's) executives offered; and that was that the Bain group could allow a company to declare bankruptcy, and then dismantle it and sold its assets to make a profit; or they would downsize a company by reducing its "cost and labor".

In either case, it was only Bain executives and a few other people, who stood to gain from such deals.

In the first example, the government would be forced, by law, to be just a "by stander" and earn a dismal amount of money, in the form bankruptcy expenses or surtax; while in the second example, lay offs of employees would occur, and thus creating unemployment, as it happened in South Carolina and in other states.

One could even deduce that the 14 million people unemployed in the United States today, have in some way, been victims of the activities of companies like Bain.

That was how Romney made his $21 million dollars in 2010, on which he paid only 15% or so in taxes. Yet, he was the favorite of the Republican Party elitists for the party's nomination in the forthcoming 2012 presidential election. How in the world could the conservative establishment of the Republican Party (composed of the elitists) support his candidacy?

They, the conservative establishment membership, knew where the funds being used for Romney's campaign were coming from. They (funds) were certainly from no other place than the banks and financial institutions in (well, you guessed right) Wall Street.

The fact of the matter is that the rest of the candidates running in the Republican Party nomination race have their faults, some for being too extreme on policies, like Paul on foreign policy, or on social and personal issues, like Santorum on being anti-abortion and Gingrich for marital problems, respectively; but Romney stands out alone for short changing the American people, by not paying his fair share in taxes.

The question therefore is this, that forgetting about his Wall Street connection; but instead taking his habit of evading taxes, as alleged on many levels, such as having holdings in the Cayman Islands and a huge Swiss bank account in Europe, if not several accounts; can a person with such a background run for the presidency of the U.S.?

You be the judge.


1. All allegations are in public records. 2. He, himself, has said that he would "not apologize for being wealthy", which makes him to be strenuously suspicious of having cheated in his business dealings. 3. Because, who in his or her right mind would make such a statement; unless he or she has a guilty conscience?


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    • profile image

      owurakwasip. 5 years ago

      You guys have your heads in the clouds; or must it be "buried in the sand."

      Look, capitalism that Romney thinks he is practicing has its upside and downside.

      He will be considered a class citizen, if he uses some of his profits to do good, by helping other people. That is called "philanthropy". He will be honored and applauded.

      The downside will equally be obvious, that he is filing his tax returns correctly, if he pays what the law says; but not after using tax loopholes to lower his income. That, my friends, is referred to as "dishonesty"; and for that he will be branded a "cheat", if he is caught for cheating.

      That is what is happening here in America today.

      There used to be philanthropists all over the United States; but unfortunately, they are all gone, or almost.

      The ones that are left are, Warren Buffett, Bill and Melinda Gates, Oprah Winfrey... among the top fifty. Romney's name is not mentioned.

    • feenix profile image

      feenix 5 years ago

      Hey, AR,

      You really did tell the person who wrote this hub "what time it is."

      I give you a great-big DITTO.

    • American Romance profile image

      American Romance 5 years ago from America

      First of all 15% of 20 something million dollars is what? A hell of a lot more than YOU paid last year! 2nd He is paying catial gains tax, meaning he paid taxes just like everyone else, saved his money and began investing what he had left over! You call his money the peoples money? Is your money the peoples money? I guess it is now! So please forward me all your paychecks along with the stubs so I know your not cheating me! Oh and since we now tell everyone what they can and cannot do with their own property, you can not eat out, nor buy coca cola, nor new clothes because that is selfish and wrong with so many suffering!.................wake up!