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Massachusetts Liberal

Observations on politics, the media and life in Massachusetts and beyond from the left side of the road.

Friday, January 27, 2012

Hedging his bets

Mitt Romney is the 0.0001 percent, as the outpouring of details from just two years of taxes show.

The latest look at the Romney investment portfolio show he is what the Globe calls an "aggressive" investor in hedge funds, funneling upwards of $100 million into those mysterious accounts must of the public know are available only to institutional investors and the super-rich. And whose manipulation or occasional collapses can trigger worldwide financial problems.

The tax returns have shattered the image Romney has tried to cultivate as a down-to-earth family guy who has been successful but not really different from average Americans. The give lie to his pathetic claims to being unemployed or fearing a pink slip.

The hedge fund investments point out the gap, as Joshua Dorner, an official with the Center for American Progress Action Fund, a Washington group that has been critical of Romney’s low tax rate, tells the Globe. Romney's investments are:
“a special loophole enjoyed only by private equity and hedge fund managers.’’
The Romney campaign correctly points out they pay all the taxes required by law and the investments are in a blind trust over which they have no control.

Not the point though. It's clear the Romneys just try to play average Americans on TV. The reality is Romney is among the very class of people who helped to dig America's financial hole and who have escaped responsibility for their actions.

Think things will change for the better under a Romney presidency? You may want to hedge that bet.

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