Monday, January 23, 2012

Romney's Medicare Fraud, Gingrich Avoided Medicare Contributions, GOP Medicare Options

Romney Aware of His Company's Medicare Fraud

"In 1989, Bain Capital purchased controlling interest in Damon Corp., a medical testing company located in Needham, Massachusetts.  During the time that Bain held its ownership of the company, Mitt Romney personally sat on the Board of Directors.  And during that same period, Damon Corp. was busy submitting fraudulent reimbursement claims to Medicare to the tune of millions of dollars charged for unnecessary blood tests."

"Inasmuch as neither Romney nor Bain was ever implicated in the fraud, it would be reasonable to conclude that while the illegal activity was going on under Mr. Romney’s nose, Romney would, himself, bear only some responsibility for perhaps not being as on top of things as one might hope for a company’s director to be.  But, according to Romney, such a conclusion would be wrong.  When Mitt Romney was confronted with the matter during his campaign to become the Governor of Massachusetts, Romney acknowledged that he did have some awareness of the funky things going on at Damon."

Mr. Romney apparently does not care where money comes from as long as it comes to him.  This may be the friendly, smiling face of greed.  Hold on to your wallet!

Gingrich Reduces His Medicare Payments

"Newt Gingrich avoided tens of thousands of Medicare payroll taxes in 2010 by using a technique the Internal Revenue Service has consistently and successfully attacked.  Republican Presidential candidate Gingrich and his wife, Callista, treated only $444,327 of what they got from Gingrich Holdings. Inc. and Gingrich Productions as compensation to them, while reporting a whopping $2.4 million of their earnings from these corporations as profits or dividends. Medicare taxes are levied at a rate of 2.9% on an unlimited amount of compensation and self-employment income (say, from a consulting contract, speeches or a book) but not on profits from a business."

An ego (and greed) at their worst.  I can hear him say, "So what if the IRS disputes what I do?  Just like those judges I don't agree with, I'll simply have them arrested and shut them down."

House Republicans Focus on Medicare

"Republicans in the House of Representatives will put forward a budget plan this year that will seek substantial reforms to health benefits for the elderly and make aggressive strides toward reducing deficits, a senior lawmaker said on Friday.  House Budget Committee Chairman Paul Ryan said he wanted his budget plan to offer voters an alternative vision to the 'cradle-to-grave welfare state' that he says Democratic President Barack Obama is promoting."

"Representative Tom Price, who heads the House Republican Policy Committee, said there was a lot of enthusiasm at the Baltimore retreat to tackle fundamental reform of 'automatic spending programs' such as Medicare and Social Security."

YIKES!  Now the buzz-phrase is "automatic spending programs?"  Give us a break.  They are pre-paid by the beneficiaries and managed more efficiently than the private sector partly because profits don't diminish the payback to beneficiaries.

MORE:  "House Speaker John Boehner said on Sunday his chamber would definitely pass a budget this year and signaled the GOP may pursue a bipartisan Medicare proposal in order to deflect Democratic attacks."

The "Wyden effect" -- the appearance of being bipartisan without the substance.

The Republican Reality-Free Zone


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