President Obama comes out with a new ad attacking Mitt Romney’s time at Bain either shipping jobs overseas or directly investing in companies that specialized in shipping jobs overseas. The ad is called “The Problem” and Obama is putting it up in swing states.
Remember Bain Capital is the company that made money by paying minimum wage at Dominoes Pizza, Burger King and others. This is the company that made money by firing workers and hiring them back at half their wage and benefits. And if they had pensions – those workers lost their pensions but executives at Bain made hundreds of millions.
Make no mistake – to this day … Mitt Romney benefits from everything that Bain Capital does. When he left – he was guaranteed a certain % of profits. We don’t know how much because he won’t disclose it but it has to be a lot of cash because he made $62 million paying 13.7% in taxes according to the only two years worth of tax returns he would actually share – 2010 and 2011.
You can read about the Washington Post story that the ad refers to HERE; a taste:
Mitt Romney’s financial company, Bain Capital, invested in a series of firms that specialized in relocating jobs done by American workers to new facilities in low-wage countries like China and India.
During the nearly 15 years that Romney was actively involved in running Bain, a private equity firm that he founded, it owned companies that were pioneers in the practice of shipping work from the United States to overseas call centers and factories making computer components, according to filings with the Securities and Exchange Commission.
As we have written about HERE – Republicans have done everything they can to prevent the economy from growing.
To understand Mitt Romney’s impact on people’s lives…you can hear it directly from workers who lost everything because of Bain Capital HERE and HERE and HERE and HERE and HERE and HERE and HERE and HERE and HERE.
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