General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMitt Romney Sent Millions to Mormon Church
Underscoring the prominent, if little discussed role that Mitt Romney played as a Mormon leader, the private equity giant once run by the GOP presidential frontrunner carved his church a slice of several of its most lucrative business deals, securities records show, providing it with millions of dollars worth of stock in some of Bain Capital's most well-known holdings.
Romney has always been a major donor to the Church of Jesus Christ of Latter-day Saints, which requires that members "tithe," or give 10 percent of their income to the church. His family charity, called the Tyler Foundation, has given more than $4 million to the church in the past five years, including $1.8 million in 2008 and $600,000 in 2009. But because Romney, whose fortune has been estimated at $250 million, has never released his personal tax returns, the full extent of his giving has never been public.
Newly uncovered stock contributions made during Romney's Bain days suggest there is another dimension to Romney's support for the church -- one that could involve millions more than has been previously disclosed.
As part of just one Bain transaction in 2008, involving its investment in Burger King Holdings, filings with the Securities and Exchange Commission reveal that an unnamed Bain partner donated 65,326 shares of Burger King stock to the Church of Jesus Christ of Latter-day Saints, holdings then worth nearly $1.9 million. And there were numerous others, giving the church a stake in other Bain properties, such as Domino's Pizza, the electronics manufacturer DDi, the phosphates company Innophos Holdings, and Marquee Holdings, the parent to AMC Theaters.
[link:http://abcnews.go.com/Blotter/mitt-romney-millions-mormon-church/story?id=15380149|
Vogon_Glory
(9,118 posts)Devout Christians are supposed to tithe ten percent of their income to the church. Whatever else I might think about Mitt-sie, in this particular instance, he's practicing his faith better than a lot of the other "pro-family" and "pro-G*d" frauds and hypocrites among the Republican Party.
I wonder if either Newt or Rick Perry tithe. I rather doubt that they do.
Motown_Johnny
(22,308 posts)and even the argument about him being "Christian" could surface.
Besides things like "how much of this went to defeat prop. 8 in CA.?"
I don't like debating someone's religion but I think that it is inevitable with conservatives and that we have yet to see it.
CountAllVotes
(20,876 posts)That is how much many lower income working class people pay. Romney pays as little as possible and gives buckets full of cash to the Mormon Church.
Damn right it brings his creepy religion back into the spotlight. He does this all by himself with no help from anyone.
radical noodle
(8,003 posts)I can't help but wonder... if Bain was an investment company that held money from pensions and investors, and he gave large packages of stock from Bain to the LDS church, wouldn't that be sorta like stealing from the investors? What am I missing? That doesn't seem like tithing to me, Mitt's tithing should come from Mitt's funds should it not?
Motown_Johnny
(22,308 posts)so creditors did not get paid while Mitt and friends pocketed the cash.
Why isn't that like stealing and how much of those losses were passed on to other customers of the banks (like you and me)?
Vogon_Glory
(9,118 posts)I do not presume to be able to perform trans-substantiation (turning wine into the blood of Christ), but as a progressive, I have no inhibitions about pouring a little blood in the water and let the right-wingers go into a self-defeating feeding-frenzy. Watching the Fundamentalist Evangelicals go hammer and tongs against the LDS and Mitt-sie's Mormonism suits me fine.
LiberalFighter
(50,950 posts)I would think we should not patronize any business associated with Bain.
zbdent
(35,392 posts)the government contracts?
Enrique
(27,461 posts)Romney seems to be a greedhead over anything else.