Obama transferring money through Cayman Islands like Romney and investing in China

[Cicero]

When Romney said "Through your blind pension you too are investing in China, and you too transfer money through Cayman Islands", when Obama was given a chance to respond, all he said was "Alright I think we need to move on". If this were grossly untrue, he would've denied it, yet he didn't! So he's blaming Romney for doing something, yet doing that same exact thing! Wow.

[huginnmuninn]

Politics at work...

[Eliza Snark]

http://3.bp.blogspot.com/-IThWX5C5CVM/Trj55r15FWI/AAAAAAAAFSE/zVf1GkyvIew/s1600/Jack_Johnson_y_John_Jackson.png

[TheBigUnit]

yes i was suprised seeing this too but obama did say romney had much more money flowing through and romney got quiet

does it bother u that the president of the united states and the runner-up both are investing money in china?

[Cicero]

yes i was suprised seeing this too but obama did say romney had much more money flowing through and romney got quiet

does it bother u that the president of the united states and the runner-up both are investing money in china?

it doesnt matter if hes worth more, meaning more money is going through. Obama is doing the same thing, and he's saying how bad it is for romney to do it.

i dont really care that jobs are going to china. business corporations just wanna save money. i just find it odd, once again, that obama is saying how bad it is that romney is investing in china, yet obama is being a hypocrite by investing in china himself.

[darkwoon]

Except Obama didn't invest in China. It is the mentioned pension fund that did. And from the transcripts, it doesn't seem at all that Obama refused to answer - he clearly said that he didn't actually know ("I don't look at my pension.").

On the other hand, Romney was the founder of Bain Capital, so even if he had no direct involvement into how Bain Capital selected where to invest money, he couldn't ignore that it did invest in China. He also appear to own a bank account in Switzerland, and more or less direct involvement in Cayman Island investments - so he cannot really argue he didn't know about it.

So in short, the difference is that Obama never invested directly in China or Cayman Islands (either in person or as a lead member of a company that did), while Romney did (or at least is accused to).

Now, I've seen the advertisement clip made by Obama about that, and let's be clear: that's ridiculously cheap propaganda. Romney is not a major player in outsourcing or fiscal avoidance. Did he put money in "tax paradises"? Yes. Is that a crime? No. Did he thus caused major blows to the US economy? Again, no. He merely did what law allowed him to do. Mixing personal fiscal evasion and nationwide corporate outsourcing issues in a single TV ad is kindergarden-level politics that only deserve to be ridiculed.

[TheBigUnit]

it doesnt matter if hes worth more, meaning more money is going through. Obama is doing the same thing, and he's saying how bad it is for romney to do it.

i dont really care that jobs are going to china. business corporations just wanna save money. i just find it odd, once again, that obama is saying how bad it is that romney is investing in china, yet obama is being a hypocrite by investing in china himself.

true i never heard of tht side too, always it was romney who invested his money through the caymen islands and all but now obama has money there :/ that doesnt bother me tho bc its his money and anyone could do it to avoid taxes etc maybe a law should be instated there? obamas campaign team and our very own news is full of lying hypocrites.

why r they investing money in america economic rival tho????

[Cicero]

true i never heard of tht side too, always it was romney who invested his money through the caymen islands and all but now obama has money there :/ that doesnt bother me tho bc its his money and anyone could do it to avoid taxes etc maybe a law should be instated there? obamas campaign team and our very own news is full of lying hypocrites.

why r they investing money in america economic rival tho????

Big corporations send jobs to China, because of the heavy regulations that the government puts on those businesses. The problem with America, is that they act like they're against those big corporations, well, you know what? Those big corporations are the creators of jobs. When Steve Jobs transferred Apple factories to China, Obama asked that he brought those jobs back, Jobs reply was "Those jobs will never come back to America". Thats what happens when you have a government, and society so hellbent on hating big corporations and the wealthy. Under Romney, some of those big corporations will want to come back. Bringing back thousands of jobs. Because Steve Jobs moved his company to China, America lost out on probably 5000+ jobs. Americans believe they deserve those jobs that Apple sent over, well, news flash, no one deserves anything. People are also sending jobs to China because its cheaper. If I were a businessman, I'd rather pay someone 10 cents an hour vs 8 dollars an hour. Better yet, those people who get payed 10 cents an hour dont act like they deserve those jobs, and they work there best. Unlike Americans.

[TheBigUnit]

you are right but big corporations will bring back the monopolies this country needed to remove. im not totally against big corporations for the fact tht i do not really go to a lot of mom and pop shops tht big corps. are choking.
steve jobs said jobs will never come back to america but the fact of the matter he never said he will stay in china, chinas middle class is growing, parents dont want to see their kids becoming factory workers and factories are rebelling. there are suicide nets outside factories. china soon will also have factories leaving in fact not many jobs are going directly to china anymore....expect the economy of countries like mongolia to grow,

[Cicero]

Except Obama didn't invest in China. It is the mentioned pension fund that did. And from the transcripts, it doesn't seem at all that Obama refused to answer - he clearly said that he didn't actually know ("I don't look at my pension.").

On the other hand, Romney was the founder of Bain Capital, so even if he had no direct involvement into how Bain Capital selected where to invest money, he couldn't ignore that it did invest in China. He also appear to own a bank account in Switzerland, and more or less direct involvement in Cayman Island investments - so he cannot really argue he didn't know about it.

So in short, the difference is that Obama never invested directly in China or Cayman Islands (either in person or as a lead member of a company that did), while Romney did (or at least is accused to).

Now, I've seen the advertisement clip made by Obama about that, and let's be clear: that's ridiculously cheap propaganda. Romney is not a major player in outsourcing or fiscal avoidance. Did he put money in "tax paradises"? Yes. Is that a crime? No. Did he thus caused major blows to the US economy? Again, no. He merely did what law allowed him to do. Mixing personal fiscal evasion and nationwide corporate outsourcing issues in a single TV ad is kindergarden-level politics that only deserve to be ridiculed.

true i never heard of tht side too, always it was romney who invested his money through the caymen islands and all but now obama has money there :/ that doesnt bother me tho bc its his money and anyone could do it to avoid taxes etc maybe a law should be instated there? obamas campaign team and our very own news is full of lying hypocrites.

why r they investing money in america economic rival tho????

Big corporations send jobs to China, because of the heavy regulations that the government puts on those businesses. The problem with America, is that they act like they're against those big corporations, well, you know what? Those big corporations are the creators of jobs. When Steve Jobs transferred Apple factories to China, Obama asked that he brought those jobs back, Jobs reply was "Those jobs will never come back to America". Thats what happens when you have a government, and society so hellbent on hating big corporations and the wealthy. Under Romney, some of those big corporations will want to come back. Bringing back thousands of jobs. Because Steve Jobs moved his company to China, America lost out on probably 5000+ jobs. Americans believe they deserve those jobs that Apple sent over, well, news flash, no one deserves anything. People are also sending jobs to China because its cheaper. If I were a businessman, I'd rather pay someone 10 cents an hour vs 8 dollars an hour. Better yet, those people who get payed 10 cents an hour dont act like they deserve those jobs, and they work there best. Unlike Americans.

you are right but big corporations will bring back the monopolies this country needed to remove. im not totally against big corporations for the fact tht i do not really go to a lot of mom and pop shops tht big corps. are choking.
steve jobs said jobs will never come back to america but the fact of the matter he never said he will stay in china, chinas middle class is growing, parents dont want to see their kids becoming factory workers and factories are rebelling. there are suicide nets outside factories. china soon will also have factories leaving in fact not many jobs are going directly to china anymore....expect the economy of countries like mongolia to grow,

Heres an article (http://www.virtualteen.org/forums/showthread.php?t=155827) I found.

[darkwoon]

And I found that one (http://www.politifact.com/wisconsin/statements/2012/oct/17/mitt-romney/romney-says-obama-also-has-investments-chinese-com/), which is mostly the same, with the personal bias of journalists removed.

Also note that this doesn't answer the fundamental difference between both men - that Romney explicitely directed investments in offshore fiscal paradises, while Obama didn't.

It is also naive at best to think that lowering taxes over international corporations will bring back jobs in developed countries. You cannot really compete with countries where there is no real limit on how much you can pressure workers. There are plenty of countries that still allow children work, that don't limit the work time per week, and that don't impose minimum pay.

Do you really think corporations will drop those opportunities just for a few percent of taxes cut? Get real.