Sunday, September 30, 2012

The October Surprise

SGS is Long (As of close of 4/30/2012)
The uncertainty of the election will be totally put to rest this coming Wednesday after the conclusion of the first debate.  I think there is an "October surprise" in making and it's all about Mitt's finances. My guess is that there will be breaking  news in one or all of the following issues:
  1. Did Mitt in his 2008 or 2009 tax return apply and was granted immunity from prosecution for not declaring income and cap. gain from assets kept in foreign accounts?

  2. How the hell Mitt turned an IRA account which was limited to an average of $3700 annual contribution since 1981 (that is a total of $114,700 over 31 years) to over $100 million.  Assuming $100 million, it means Mitt returned a whopping average return of 43% on his IRA investment  in the last 31 years!

  3. Why Mitt deducted only $2.25 million in charitable contribution in his 2011 taxes while he contributed over $4 million (nearly all to Mormon churches and organizations).  Was it because if he had deducted the full amount  his tax rate would have dropped to 9% from 14% for 2011?  Is Mitt planning to amend his 2011 taxes in order to deduct the entire amount after the election?
I expect Market to resume its rally on Thursday once everyone including Fox News accepts that it's over.

BTW, I am NOT an Obama fan, but if  Mitt / Paul are elected, they would presides over the destruction of the middle class which eventually would turn our country into a banana republic where 99% of the wealth is owned by 1% of the population.  As always, I'm going to hold my nose and vote.

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Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.

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