“Uncle Will At Your Service”: Marriott Is Mainstay For The Romney campaign
On the campaign trail, Mitt Romney incessantly talks about his “five points” to get the country moving again, but the only points anyone traveling with the GOP nominee is interested in are Marriott points.
The candidate has made the hotel chain the semi-official innkeeper of his presidential campaign. From Iowa to Ohio to New York City, Romney has wheeled his carry-on bag into Marriott lobbies and passed the omnipresent portrait of J. Willard Marriott and his son, John Willard “Bill” Marriott Jr. — a Romney contemporary, fellow Mormon scion and, along with his brother, a donor of more than $1 million to the Republican’s effort.
The Romneys and Marriotts go way back. J. Willard was a dear friend of Mitt’s father, George, with whom he sold tamales in Washington during the Depression Era. Forty years later, J. Willard Marriott asked his namesake Willard Mitt Romney, a young consultant with Bain & Co., to help with his Roy Rogers fast-food chain. But Bain prevented those at the firm from working for any client who employed their chief competitor, McKinsey & Co., which Marriott did. Or from working in a peripheral part of the business, which Roy Rogers was.
Romney had to call up “Uncle Will” — as he called him — to decline the work, according to Mike Farmer, who accompanied Romney on the sales trip.
But Romney, who once sat on the Marriott board, has stayed loyal to the Marriott empire. And now so has the phalanx of campaign operatives, television producers, camera operators and reporters, checking in behind the candidate with corporate cards in hand. (On Sunday, the Obama campaign press corp was also camped out at a Courtyard Marriott in Williamsburg.)
“It’s our home away from home,” said Rick Gorka, a spokesman for the Romney campaign. “We’ve converted a lot of press.”
To build brand loyalty and try to beat the competition, Marriott rewards guests with lodging’s version of frequent flyer miles for each stay. A steady accumulation of Marriott points bestows first silver, then gold and finally platinum status, each precious metal coming with its own precious perks.
“I’m platinum,” Gorka said proudly as he swirled a large glass of bourbon on the back of the press plane. Having spent at least 150 nights in Marriott hotels since January and racked up a half-million points, he spoke reverentially about the “Taste of Platinum” program. He became almost misty discussing the time the West Palm Beach Marriott upgraded him to a two-bedroom condo with balcony, hot tub, washer and dryer. He said he daydreamed about a prolonged, free stay in a perhaps tropical destination with his girlfriend, who eagerly monitored his point total back home. “Points,” he said, “are gold for us.”
On his way back toward the front of the plane, Gorka hovered over the aqua-blue screen of a reporter’s laptop. She was gazing at the crystalline waters surrounding Marriott’s Scrub Island Resort, Spa & Marina in the Virgin Islands. “It’s a new Marriott, autograph collection” she explained to Gorka. “It’s on a private island, 52 rooms on the marina. It looks amazing.”
“Let me know if you go,” Gorka said.
The day had started, as so many of them do, with Romney staffers and Romney press corps members climbing out of their Marriott mattresses and picking at eggs in a private breakfast room off the lobby, this time of the Columbus Airport Marriott. One of the camera crew interrupted the breakfast of one of the embedded television reporters to ask, “Are you triple platinum now?”
“Oh, yeah,” she responded matter of factly. “I, like, lived in the Marriott New Hampshire. I have 200 free nights.”
It came time to board the bus, and a circle of cameramen discussed the finer points of Marriott points, saying things like “mega bonus.”
“Have you enrolled in the platinum challenge?” one asked this reporter, who had a lowly silver status. He described an alchemy by which every two-night stay results in a free night in another Marriott. As long as it isn’t too high end, interjected a colleague, “Only category three or four, not five.”
The press then loaded onto the bus, following Romney as he campaigned around the state. Then they boarded the plane, flew with him to Boston and boarded another bus to bring them to their hotels. As the coach rolled toward the entrance of the Courtyard Marriott in Waltham, one of the embedded network producers shouted to no one in particular: “Why don’t we stay at the Westin out here? Why does the Marriott own our souls?”
By: Jason Horowitz, The Washington Post, October 14, 2012
“Not Very Much”: Without The Economy, What Does Romney Have Left Against Obama?
Last Friday’s new job numbers demonstrate that Barack Obama has started to turn around the economy George W. Bush ran aground.
Don’t get me wrong. A 7.8 percent jobless rate is way too high. And the effective jobless rate which includes part-time workers who want full-time work and Americans who have given up hope of ever finding jobs is even worse.
But there have been 31 straight months of growth in the number of private sector jobs. The unemployment rate is still high but there has been a slow and steady decrease in the jobless rate. The picture is even brighter in the battleground states that will pick the next president. In Iowa, the unemployment rate is only 5.5, and it is 5.7 percent in New Hampshire. The unemployment rate would be even lower if the GOP majority in the House of Representatives had approved the president’s proposed American Jobs Act which would have given state and local governments the funds to rehire hundreds of thousands of the teachers, police officers, firefighters, and other public employees who had lost their jobs in the last few years.
One of the striking things about recent national surveys is that Americans now think that Barack Obama is as capable of handling the economy as Mitt Romney. The Battleground national poll conducted for George Washington University last week shows that there are almost as many voters (47 percent) who think President Obama is the best candidate to handle the economy as there are voters (49 percent) who think Romney is the better man for the job.
Romney’s business credentials were his ace in the hole but he played his hand poorly. The steady increase in employment has certainly helped restore trust in the president’s capacity to nourish the economy but the GOP nominee has undermined his own image as a successful entrepreneur.
Romney is his own worst enemy. The infamous “47 percent” video exposed Romney’s callous disregard for Americans like seniors and veterans who are economically dependent on government benefits. The video clearly had an impact on Romney’s standing. The Battleground survey shows the president with a big advantage (56 percent to 40 percent) over Romney for standing up for the middle class.
If the president does win re-election, I suspect that many pundits will say the 47 percent video was the turning point of the campaign. But I think the real pivot point was during the spring when the Obama campaign exposed what Rick Perry called Romney’s time at Bain Capital a career in “vulture capitalism.” At the time, most Democratic insiders dismissed the anti-Bain preemptive attack ads, but they put Romney on the defensive on the only issue that could help him win the campaign. The president also helped himself when he adopted an aggressive message of economic populism in the fall of 2011 after he finally got frustrated over Republican obstructionism.
Monday, Romney gave a speech on foreign policy at the Virginia Military Institute. He has talked about national security a lot lately, and the Romney campaign’s focus on foreign policy may be an admission by Romney that he has lost the edge he had over the president on the economy. Romney’s new emphasis on foreign policy is counterproductive since few voters care about it and because voters give the president good marks for international relations. According to the Battleground poll, few Americans indicate that the wars in the Middle East (4 percent) or terrorism (2 percent) are the most important issues in the campaign. By a margin of 50 percent to 44 percent, voters choose the president as the candidate best able to handle foreign policy.
A story in Politico on Tuesday indicated that the Romney family is pushing the candidate to de-emphasize his anti-Obama economic rhetoric. But if the GOP candidate stops beating up on the president for his economic performance, what does Romney have left? The answer is not very much.
By: Brad Bannon, U. S. News and World Report, October 9, 2012
“No, We Don’t Dig It”: What We Still Don’t Know About Mitt Romney’s Taxes
With the documents Mitt Romney released recently, we know a bit more about his taxes.
We know, for instance, that Romney paid a rate of 14.1 percent on $13.7 million in income on his 2011 tax return, which he achieved by purposely overpaying. Though he was entitled to deduct $4 million in charitable contributions, Romney deducted only $2.25 million to keep his tax rate above 13 percent.
(Romney, it has been pointed out, could file an amended return to claim the full deduction after the election. We’ve contacted the Romney campaign, and Michele Davis, a spokeswoman, assured us he would not do so.)
We know, according to a letter from his accountants at PricewaterhouseCoopers, that Romney has paid state and federal income taxes each year since at least 1990, which would seem to disprove Senate Majority Leader Harry Reid’s claim in July that Romney had not paid any taxes for a decade.
And we know that Romney’s tax rate since 1990 never dipped below 13.66 percent, according to his accountants. Romney paid an average effective tax rate between 1990 and 2009 of 20.2 percent.
But there’s still a lot we don’t know. “I think most of the major questions we had before [last Friday] are still out there,” said Brian Galle, a tax law professor at Boston College. Here are a few:
How much did Romney make before 2010?
While Romney has disclosed his average effective tax rate for the last two decades, he hasn’t said how much he earned in those years or how much — the dollar amount — he paid in taxes.
That’s an important distinction, said Daniel Shaviro, a tax law professor at New York University. Various tax-planning strategies may have enabled Romney to reduce his adjusted gross income in some years.
In 2008, for instance, investors everywhere lost money when the stock market tanked. Romney may have carried those losses forward, Shaviro said, and used them to reduce his adjusted gross income in 2009. While we know Romney paid at least 13.66 percent of the income he recorded on his taxes in a given year, we don’t know what percentage he paid of the money actually took home that year.
Why is Romney’s IRA worth so much?
Much of Romney’s wealth sits in his IRA, which is worth as much as $101.6 million. It’s a remarkable number, in part because Romney would have been able to contribute a maximum of $30,000 a year to his IRA while he was at Bain, from 1984 to 1999.
Galle, the Boston College tax law professor, said the most likely explanation for the outsized IRA is that Romney put in shares in Bain investments that swelled in value. According to the Wall Street Journal, Bain allowed employees to buy a special class of shares in the firm’s investments. The shares didn’t cost very much, but they could be extremely lucrative. In one deal, the Journal reported, “some Bain employees saw a 583-fold increase” in the value of their shares — an astronomical return. Because the shares were in IRAs, the profits could be plowed into new Bain deals without subtracting taxes.
Romney also may have beefed up his IRA by contributing “carried interest” — a share of the profits in funds managed by Bain. As Reuters reported earlier this year, any potential carried interest would “not be disclosed in his personal financial summary or on a federal income tax return.” In other words, even if Romney released all his tax returns, we still might not know exactly how he accumulated his huge IRA.
What about Romney’s investments offshore?
We know many of Romney’s IRA investments are based in foreign countries but it’s hard to know how much. He valued one account in the Cayman Islands at anywhere between $5 million and $25 million.
One thing we do know is that Romney pays a far lower tax rate overseas than he does here. According to Quartz, Romney paid only 2.4 percent in foreign taxes in 2011 on the $3.5 million he earned abroad.
We also know where Romney’s current overseas investments are held —Bermuda, the Cayman Islands, Switzerland, Luxembourg — and many of the firms he has invested in, including a state-owned Chinese oil company and a Chinese bank that Romney’s family trusts sold their stake in last year. But we don’t have a lot of other important documentation, including forms would show whether Romney had, as the New York Times has reported, “over the years declared all of his foreign income to the IRS in a timely manner.”
The Wall Street Journal has reported that Romney’s offshore IRA investments likely helped him avoid a little-known tax called the unrelated business income tax. The tax, “meant to discourage tax-exempt entities such as an IRA or college endowment fund from unfairly competing with for-profit, taxpaying entities by operating a business without paying taxes on it,” could have hit Romney at up to 35 percent.
The Romney campaign seems unlikely to release any more information about his finances, but that hasn’t kept reporters from digging it up. Bloomberg, for instance, analyzed securities filings to report last Thursday that Romney has set up a type of trust known as an “I Dig It” trust — a legal way for Romney to avoid estate and gift taxes and pass some of his fortune onto future generations.
By: Theodoric Meyer, Propublica, October 1, 2012
“A Fateful Misposition”: Romney Didn’t Change Fast Or Far Enough
If you want to understand the recent, present, and probably future direction of the conservative movement and its wholly owned subsidiary, the Republican Party, it’s important to understand how thoroughly and rapidly it has engineered a revolution in the GOP, now that dissent from The Truth is ill-tolerated. A useful way to get a grip on this phenomenon is, of course, to look at Mitt Romney’s efforts to accommodate himself to the ever-changing zeitgeist. Sometimes you get the impression that Romney was this solid moderate Republican the day before yesterday, and only became “severely conservative” in this cycle. But as Steve Kornacki reminds us today at Salon, Mitt started repositioning himself to the right a long time ago–just not fast and far enough:
Romney began making moves toward a White House run nearly a decade ago, shifting away from his moderate Massachusetts roots and positioning himself to meet the national GOP’s various ideological tests. The Massachusetts healthcare law was to play a key role in this self-reinvention. It would give Romney a major bipartisan gubernatorial achievement, burnish his credentials as a forward-looking leader (and not just a simple panderer), and give him a huge general election asset – a universal coverage law that he could use to deflate the inevitable Democratic attacks about his lack of compassion and to stir hope among voters that he knew how to accomplish Big Things.
So Romneycare was not a legacy of RINO moderate heresy (you have to look back at the things he said during his 1994 Senate race against Ted Kennedy to find a lot of items that send conservatives completely over the wall), but a token of then-prevailing conservative orthodoxy. For two interlocking reasons–the decision by conservatives that any efforts to achieve universal health coverage were inherently “socialistic,” and the strategic decision to oppose everything proposed by Barack Obama as a step down the road to totalitarianism–Romney’s positioning turned out to be wrong. It’s worth remembering that his most serious “true conservative” rivals for the nomination, Rick Perry, Newt Gingrich and Rick Santorum, made similar mistakes.
In Romney’s case, however, this mispositioning has been especially fateful because it knocked the props from beneath his slender record of accomplishment, as Kornacki notes:
When Obama embraced RomneyCare and the GOP embraced reflexive opposition, it left Rommney with nothing to say.
And that’s where he is today, alternating between a failing “economic referendum on Obama” message and serial broken promises to lay out a positive agenda that isn’t the Ryan Budget with a side dish of Christian Right cultural extremism. If there was a Bain Capital for politicians, it would probably tell Mitt he needs to blow it all up and start over.
By: Ed Kilgore, Contributing Writer, Washington Monthly Political Animal, September 27, 2012
“Mitt Romney’s Sham Economic Plan”: A Right Wing Fantasy With A Right Wing Set Of Goals
Well, it seems like a good week for Mitt Romney to try to steer the conversation back to the economy. It doesn’t help him, granted, when people like Bill Kristol are saying that Obama managed the financial crisis “pretty well.” But foreign policy and the culture-warrior stuff hasn’t played so well for him, and after all, the economy was supposed to be his raison d’être in the first place, and the first debate is coming up next week, so why not? The only problem is that the economy doesn’t really help him either. As long as he refuses to be specific about which tax loopholes he’d close, he can’t talk economy with any real credibility.
A quick catch-you-up for those you who haven’t gotten this message yet. Romney wants to cut everyone’s tax rates. He acknowledges this will reduce revenue. He says he’ll make up the revenue by closing loopholes, but only those used by the wealthy. Experts say there aren’t enough of those. So he’ll have to close loopholes that middle-class people depend on. And obviously, that is a subject he has no desire to discuss.
Romney’s tax plan is absolutely central to his economic argument—everything, from growth to jobs to cutting the deficit, starts with cutting taxes. And it’s worth noting that, on this as on all issues, he’s moved hard right. He had one tax plan last year, but it clearly didn’t placate the right wing, so he came back in the late spring and released the new and current one, bigger and “bolder,” more Ryanesque and Norquistesque.
As with everything else he’s done to please the right, it’s causing him all sorts of problems back here on planet Earth. His numbers don’t add up, he knows they don’t add up, and so when pressed, he insists that they do, while ducking the kind of questions that presidential candidates from Barack Obama and Hillary Clinton to Gary Bauer and Lamar Alexander routinely have answers for. A number of journalists have tried, and all have failed.
And so, on 60 Minutes Sunday, Steve Kroft gave it another shot, only to be told by Romney that specifics would be a hindrance at this point because “if you want to work together with people across the aisle, you lay out your principles and your policy, you work together with them, but you don’t hand them a complete document and say, ‘Here, take this or leave it.’ Look, leadership is not a take it or leave it thing.
That’s just so obviously a dodge that he doesn’t even deserve an E for effort. No one is compelling him to say to Congress, “Here’s my plan, take it or leave it.” He can and in fact should say to Congress, “Here’s my plan, now let’s talk.” That’s actually what leadership is.
It’s my view that Romney’s intentional vagueness here is hurting him very badly. This may seem on its surface like the kind of thing that’s a little too wonky for your average American, but I say au contraire. I think most people grasp the problem here all too well.
There are a lot of details about politics and policy the American people don’t really get. But there are some things they do get. They get that they are permitted under current law to deduct the interest they pay on their mortgages. They get that their contributions to their health-care premiums are taken out of their paychecks before taxes are levied. And they—a fairly solid majority, anyway—get that supply-side economics has given the middle class the shaft and benefited the wealthy.
So when they hear a guy worth a quarter-billion dollars say he’s cutting taxes but won’t discuss loopholes, this is what I think they hear: he’s going to help himself and his friends, and we’re going to be left paying the bill. There may not be much class envy in America, but there is that much, anyway.
So let’s take a step back and unravel this. The economy was supposed to be Romney’s great strength. The Obama campaign hit him pretty hard on Bain and his business experience, so that advantage was neutralized. But still, he had the chance to say, “Bain aside, this here is how I’m going to fix the economy.” This is something all campaigns do. Romney has a five-point plan, but it’s not really a plan per se. It’s mostly just a set of goals. It’s as if I came up with a five-point plan to become rich and famous that went: write bestselling novel, win Oscar with follow-up screenplay, write movie theme song, and have Adele record it, start successful restaurant chain, invent next Internet.
It’s nice to see that this flimflam actually can’t work. People scoff at politicians’ promises, and I understand why, but in fact, behind most campaign promises are teams of policy experts at least trying to figure out how the candidate can fulfill that promise once in office. Romney’s promise is a right-wing fantasy that will benefit the same people who always benefit from Republican policies. Most voters can sense this. So he can’t really campaign now on the economy either. That doesn’t leave many options.
By: Michael Tomasky, The Daily Beast, September 25, 2012
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