Analyses of FEC data by the Center for Responsive Politics show that, in addition to the $37.1-million-to-$4.8-million overall edge, Romney and his super PAC are taking in more cash than Obama and his super PAC from donors linked to every finance subsector: hedge funds and private equity, securities and commercial banks.
Anthony Scaramucci, a Manhattan hedge fund manager who made the Obama-to-Romney switch, said finance donors are migrating from Obama to Romney because “they feel that our country is in trouble — that our economy is in trouble.”
“There is so much dissatisfaction with the current president and his failed policies that we have found more and more people who are willing and wanting to get involved and who are eager to line up behind Gov. Romney,” Scaramucci said.
“The taxpayers pay for government,” Romney said. “It’s not like government just provides those to all of us and we say, ‘Oh, thank you government for doing those things.’ No, in fact we pay for them, and we benefit for them and we appreciate the work that they do and the sacrifices that are done by people who work in government. But they did not build this business.”
“In the past people of both parties understood that encouraging achievement, encouraging success, encouraging people to lift themselves as high as they can, encouraging entrepreneurs, celebrating success instead of attacking it and denigrating it makes America strong,” Romney said. “That’s the right course for this country. His [Obama’s] course is extraordinarily foreign,” Romney told an audience at an oil-and-gas drill support company.
Romney’s plan lays out a strategy for transitioning to a territorial tax system, which would allow firms such as Cisco and Oracle to largely avoid having foreign income taxed by the United States. The Romney plan also would lower the corporate tax rate from 35 percent to 25 percent, which is in line with what GOP lawmakers are pitching as part of their own plans.
And for now, he counts on a few powerful friends with heavyweight tech credentials — such as Hewlett-Packard CEO Meg Whitman, a big Romney backer who’s contributed $100,000 to the super PAC angling on behalf of the former Massachusetts governor.
Leading Silicon Valley investor Marc Andreessen, former Sun Microsystems CEO Scott McNealy and the new head of Google’s Washington office, former GOP Rep. Susan Molinari, are all supporting Romney. The chief of the Consumer Electronics Association, Gary Shapiro, has talked up the former Massachusetts governor’s credentials on multiple occasions, though he has not formally endorsed Romney.
Some expected in the crowd like Dominion Resources CEO Thomas Farrell have contributed to Romney’s effort beyond just campaign donations. Farrell, who serves as Romney’s energy industry chairman, has been listed on several Romney fundraiser invitations.
Barclays’s Robert Diamond Jr.; Blackstone Group’s Stephen Schwarzman; Caterpillar’s Douglas Oberhelman; and Chevron Corp.’s John Watson, are among the execs who contributed $2,500 each in personal checks to Romney.
Mitt Romney is expected to get a warm welcome Wednesday when he holds a closed-door meeting in Washington with more than 100 of the nation’s top CEOs.
After all, of the 211 Business Roundtable members, at least 50 of the member companies’ executives have contributed nearly $83,000 toward his 2012 presidential bid, according to data compiled from the Center for Responsive Politics.
“I’ll communicate to the private sector, by the way, that we like you,” Romney said in response to a question about how to encourage banks to lend more money. “We like enterprise. I was in Iowa the other day, and people suggested that we just raise taxes on corporations.”
He went on: “I told them, corporations are people. … Raising taxes on corporations is raising taxes on people.”
Proposes repeal of the (Dodd-Frank) law toughening financial-industry regulations after the meltdown in that sector. Proposes repealing the (Sarbanes-Oxley) law tightening accounting regulations in response to corporate scandals, to ease the accountability burden on smaller businesses. "We don't want to tell the world that Republicans are against all regulation. No, regulation is necessary to make a free market work. But it has to be updated and modern."
As president, Mitt Romney’s first step in improving labor policy will be to ensure that our labor laws create a stable and level playing field on which businesses can operate. As they hire, businesses should not have to worry that a politicized federal agency will rewrite the rules of the employment game without warning and without regard for the law.