“From Todd Akin To Jerusalem”: Mitt Romney And The End-Times
There’s a lot of chatter about a video, made in 2007, when Romney was running for president the first time, that has (naturally) surfaced again just a few days before the election. Apparently filmed by hidden camera, it shows Romney arguing with conservative Iowa talk radio host Jan Mickelson, in studio but off the air, about his Mormon beliefs. Mickelson appears to be goading Romney into admitting or explaining ways that Mormonism differs from evangelical Christianity, and Romney gets pretty angry and heated throughout.
Earlier this year, Joanna Brooks wrote about how journalists who focus on, for example, Romney’s citation to Mickelson of Cold War-era Mormon figure W. Cleon Skousen (long a religious right, tea party, and Glenn Beck favorite) miss the mark about the Mormon world in which Romney functions, “a powerful multinational network of financial and political influence brokers connected by a profound common bond: their multigenerational membership and service in the LDS Church.”
This week, one part of the Mickelson video in particular has generated some discussion: Mickelson asks Romney about the end-times, and about whether he believes the Second Coming of Christ will happen in Missouri. In the video, Romney tells Mickelson that, no, the LDS Church teaches (as do evangelical churches) that the Second Coming will happen in Jerusalem. He then goes on to explain, rather clumsily and without much detail, “what the church” teaches about this.
Mickelson seemed inspired to broach the topic by an interview Romney gave to George Stephanopoulos. Here’s part of that transcript:
George Stephanopoulos: In your faith, if I understand it correctly, it teaches that Jesus will return probably to the United States and reign on Earth for 1,000 years. And I wonder how that would be viewed in the Muslim world. Have you thought about how the Muslim world will react to that and whether it would make it more difficult, if you were present, to build alliances with the Muslim world?
Former Gov. Mitt Romney, R-Mass.: Well, I’m not a spokesman for my church. I’m not running for pastor in chief. I’m running for commander in chief. So the best place to go for my church’s doctrines would be my church.
Stephanopoulos: But I’m talking about how they will take it, how they will perceive it.
Romney: I understand, but that doesn’t happen to be a doctrine of my church. Our belief is just as it says in the Bible, that the messiah will come to Jerusalem, stand on the Mount of Olives and that the Mount of Olives will be the place for the great gathering and so forth. It’s the same as the other Christian tradition. But that being said, how do Muslims feel about Christian doctrines? They don’t agree with them. There are differences between doctrines of churches. But the values at the core of the Christian faith, the Jewish faith and many other religions are very, very similar. And it’s that common basis that we have to support and find ability to draw people to rather than to point out the differences between our faiths. The differences are less pronounced than the common base that can lead to the peace and the acceptability and the brother and sisterhood of humankind.
Stephanopoulos: But your church does teach that Jesus will reign on Earth for the millennium, right?
Romney: Yes.
Mickelson asks Romney whether, contrary to what he told Stephanopoulos, he believes the Second Coming will take place in Missouri. After mentioning that a Skousen book explains LDS teaching on this, Romney seems either unwilling or at a loss to go into too much detail. Romney adds:
Christ appears, it’s throughout the Bible, Christ appears in Jerusalem, splits the Mount of Olives, to stop the war that’s coming in to kill all the Jews, it’s—our church believes that. That’s where the coming and glory of Christ occurs. We also believe that over the 1000 years that follows, the millenium, he will reign from two places, that the law will come forward from one place, from Missouri, the other will be in Jerusalem. Back to abortion.
A few things here. First, except for the part about Missouri, what Romney is saying about LDS belief about Christ’s return doesn’t deviate that much from what many evangelicals believe. I’m not in any way endorsing apocalyptic biblical literalism or proof-texting here, or saying that all Mormons or all evangelicals believe this. I’m just pointing out that Romney was relying on the same parts of the Bible many evangelicals do about Christ’s return. For example: “‘In the whole land,’ declares the Lord, ‘two-thirds will be struck down and perish; yet one-third will be left in it.'” (Zechariah 13:8) and “On that day his feet will stand on the Mount of Olives, east of Jerusalem, and the Mount of Olives will be split in two from east to west, forming a great valley, with half of the mountain moving north and half moving south” (Zechariah 14:4). I’ve seen preaching on this by evangelicals; I’ve talked to evangelicals who believe these verses to be true, accurate, and undeniable prophecy of what will happen in Jerusalem. (N.B.: Zechariah was not talking about Jesus, and what exactly he—or more than one he—was actually talking about is far from clear. But anyway.)
The question that’s being raised now, as this video resurfaces and generates discussion, is: does Romney himself really believe this? Does he somehow revel in a “war that’s coming in to kill all the Jews,” or see it as inevitable? I think that’s not evident from the video, or from his answer to Stephanopoulos. (Of course Romney’s a notorious liar, so we may never know.) Romney’s very defensive in the video, under questioning by Mickelson who clearly is trying to get him to admit that Mormon end-times theology is wildly different from evangelical end-times theology (which has many variants, incidentally, but none that include Missouri as a locus for anything except the second coming of Todd Akin). But Romney appears to be suggesting that “our church believes that” rather than saying, “I believe this is a literal prophecy of how world events will play out.” I’ve written before about how Romney’s public pronouncements on the Israel-Palestine conflict are out of touch with non-apocalyptic, contemporary Mormon thinking, but still, he’s never discussed his own beliefs on the end-times, or disagreements, if any, with LDS doctrine.
Apocalyptic beliefs are a Republican problem, though, not just a Romney problem; for example, George W. Bush, Rick Perry, Michele Bachmann and Mike Huckabee are all evangelicals who forged relationships with apocalyptic preacher John Hagee. I would very much like to know whether they co-sign Hagee’s apocalyptic visions.
I want to know the same answers about Romney, but not because he’s Mormon. Equally as pertinent to what Romney himself believes is what he thinks his base believes, and to what extent, as president, he’d be worrying about placating them. Remember, he was trying to show Mickelson he believes the same things evangelicals do. He’s running for president, for Pete’s sake!
By: Sarah Posner, Religion Dispatches, November 2, 2012
“The Romneys Get Theirs”: How MItt Romney Used His Church’s Charity Status To Lower His Tax Bill
We already know that Mormon Mitt Romney has been tremendously generous to his church, giving over $5 million in the past two years alone, but now we learn that his charitable activity with LDS may not have been entirely altruistic. Bloomberg’s Jesse Drucker reports that Romney exploited the church’s tax-exempt status to lower his tax bill.
Romney reportedly took advantage of a loophole, called a charitable remainder unitrust or CRUT, which allows someone to park money or securities in a tax-deferred trust marked for his or her favorite charity, but which often doesn’t pay out much to the nonprofit. The donor pays taxes on the fixed yearly income from the trust, but the principal remains untaxed. Congress outlawed the practice in 1997, but Romney slid in under the wire when his trust, created in June 1996, was grandfathered in.
The trust essentially lets someone “rent” the charity’s tax-exemption while not actually giving the charity much money. If done for this purpose, the trust pays out more every year to the donor than it makes in returns on its holdings, depleting the principal over time, so that when the donor dies and the trust is transferred to the charity, there’s often little left. The actual contribution “is just a throwaway,” Jonathan Blattmachr, a lawyer who set up hundreds of CRUTs in the 1990s, told Bloomberg. “I used to structure them so the value dedicated to charity was as close to zero as possible without being zero.”
Indeed, this appears to be the case for Romney’s trust as well. Bloomberg obtained the trust’s tax returns through a Freedom of Information Request and found that Romney’s CRUT started at $750,000 in 2001 but ended 2011 with only $421,203 — over a period when the stock market grew. Romney’s trust was projected to leave less than 8 percent of the original contribution to the church (or another charity that he can designate). This, along with the trust’s poor returns — it made just $48 in 2011 — suggest the trust is not designed to grow for the LDS church but just serve as a tax-free holding pool from which annual payments can be disbursed to the Romneys.
This is hardly the first tax-avoidance strategy Romney has employed. It’s well known that he holds offshore bank accounts in Switzerland and the Cayman Islands, but he has used more obscure vehicles as well. There’s the “total return equity swap,” where a taxpayer calls a stock he owns by another name and doesn’t pay taxes on it. There’s the way he’s been avoiding gift and estate taxes through a trust that he set up for his children and grandchildren. And there’s the neat trick whereby private equity firms claim that management fees are capital gains and thus qualify for a lower tax rate than straight income. Bain Capital was known for pursuing an aggressive tax-mitigation strategy (they’re now under investigation for it), and so was Marriott Hotels when Romney was an influential board member.
And it’s not just taxpayers who lose out. “The Romneys get theirs off the top and the charity gets what’s left,” said Michael Arlein, a trusts and estates lawyer at Patterson Belknap Webb & Tyler LLP. “So by definition, if it’s not performing as well, the charity gets harmed more.”
By: Alex Seitz-Wald, Salon, October 31, 2012
“A Matter Of Character And Trust”: Did Mitt Romney Break The Law By Failing To Disclose Delphi Investments?
We now know, thanks to Greg Palast’s recent scoop in The Nation, that Mitt Romney reaped a large financial windfall from the auto bailouts. Romney didn’t talk up this shrewd investment while touting his business experience on the campaign trail, for obvious reasons—he is a strong critic of those bailouts.
But while Romney had ample political reasons to conceal his investment, he apparently had no legal justification for doing so. Federal law requires that candidates disclose stock holdings that are affected by government action—and Romney’s million-dollar (at least) investment in a hedge fund that bought up Delphi stocks surely fits that bill.
Now, unions and good-government groups are calling on the feds to investigate Romney’s oversight.
Thursday afternoon in Toledo, Ohio—where the story has received significant play in local media—United Auto Workers president Bob King joined Palast and Service Employees International Union vice president Tom Woodruff to call upon the US Office of Government Ethics to look into Romney’s financial disclosures and their failure to list the Delphi investments. Along with several groups like CREW and Public Citizen, the union leaders also sent a letter to OGE demanding a formal investigation.
“The American people have a right to know about Governor Romney’s potential conflicts of interest, such as the profits his family made from the auto rescue,” said King. “It’s time for Governor Romney to disclose or divest.”
As Palast reported, a trust in Ann Romney’s name listed “more than $1 million” invested with Elliott Management, run by hedge fund guru and GOP mega-donor Paul Singer. (That’s the minimum amount of disclosure required by law, so it could have been much more than $1 million.) Singer subsequently snapped up large amounts of stock in Delphi at pennies on the dollar, and then, along with other hedge funds, demanded that the government assume pension responsibilities and bail the company out—or they would shut it down, thus crushing General Motors as well.
The government acceded, Delphi became lucrative again and then went public, and Elliott Management and its investors—including Romney—reaped enormous rewards.
Under any rational interpretation of the Ethics in Government Act of 1978, these are holdings that a presidential candidate would need to disclose, because they can be affected by government action. The Romney campaign doesn’t argue that they are not, but rather that, since Ann Romney’s trust is “blind,” there is no disclosure requirement.
Today’s letter points out, however, that Ann Romney’s trust is blind in name only. Romney himself has said that “the blind trust is an age-old ruse, if you will. Which is to say you can always tell a blind trust what it can and cannot do.” Moreover, this is not a federally recognized blind trust of the sort Romney would be forced to create if he won the White House. If it was, he would have never been able to reap his windfall from Delphi, the letter points out.
Whether or not Romney broke the law will come down to this question of how blind this trust really is, and Romney at least has some plausible deniability there. But no doubt this is a story his campaign doesn’t want to see playing out in Ohio five days before the election.
By: George Zornick, The Nation, November 1, 2012
“An Unreliable Partner”: Romney Struggles For Relevance While Sandy Blows Away Political Pretense And Ideological Nonsense
While the president canceled his campaign schedule and flew northward to join the relief effort, Romney struggled for relevance. Presumably with the best intentions, he tried to transform an Ohio rally into a charitable gathering, where his campaign would collect canned food and bottled water for hurricane victims. But then his campaign workers were caught purchasing cases of food and water at a local Walmart, evidently planning to stage fake giving if necessary.
As he played his role in this flummery, Romney repeatedly refused to answer questions from reporters about his vow to dismantle FEMA as a cost-cutting measure. It would be “immoral” to spend money on federal disaster relief, as he told a debate audience in 2011, when the government is running a substantial deficit. And it is true that the budget and tax policies promoted by Romney and his running mate, Paul Ryan, would require such significant cuts in domestic spending as to decimate disaster relief.
Disbanding FEMA and discarding its skilled personnel apparently would be fine with Romney, who said “absolutely” when asked by CNN’s John King whether he would consign disaster relief to the states rather than the federal government. For that matter he would go still further, said the former Massachusetts governor; best of all would be to let the private sector assume FEMA’s responsibilities.
Nobody asked Romney how a privatized FEMA would function, but it is interesting to imagine the private-equity version of disaster management—and how that entity might squeeze profit from tragedy. Under present circumstances, the Romney campaign denies any plan to abolish FEMA, but who really knows?
In this awful moment Christie, Cuomo, Bloomberg — and every other official watching them — must have realized that should cataclysm strike their city or state, they have a reliable partner in President Obama. The Romney Republicans inspire no such confidence.
By: Joe Conason, The National Memo, November 21, 2012
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