The latest story about Mitt Romney's troubles with Bainport out of the rightwing media is that tying Romney to Bain Capital and Sensata is now a "liberal" conspiracy. They imply that because Romney transferred a portion of his Sensata stock to charities, he washed his hands clean of directly earning a profit on outsourcing American jobs to China. Well, except for the fact that Romney owns and controls the charity and that he got to deduct the full value of the stock, at a 35 percent tax rate, which amounted to almost a $250,000 benefit. Second, Romney was able to avoid paying capital gains taxes on the stock price increase. His returns list no cost for the stock, and indicate he obtained them as part of a partnership interest in Bain.
The nutjob media also contends that those in control of Bain Capital are actually democrats and label them as supporters of President Obama. That's right. What they're asking of us is that we should ignore the founder and architect of Bain Capital and still current significant stockholder in Sensata, and instead point to Obama, who has absolutely zero financial interest in the debacle taking place in Freeport, Illinois.
Finally, with the Examiner fabricating their own lies to debunk, such as people believing Mitt Romney owns Sensata. Because they also make an effort to project Romney's troubles with Bain onto Obama, I give the article a full flop on its mission to present the facts.
ADDITIONAL:
Everyday Notes - Mitt Romney Gets Tax Break Off Firm Sending Jobs To China
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