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Paul Ryan Failed To Disclose Investments On Ethics Forms

News Tuesday, Oct 9 2012

Paul Ryan Failed To Disclose Investments On Ethics Forms

Vice-presidential candidate Rep. Paul Ryan's tax returns contained investments he failed to disclose on his Congressional financial disclosures. His tax returns reveal the amount of profit or loss, but we still don't know the value of the underlying investment.

Ryan’s Tax Returns Reported Investment In TLS Partners LLC – But Did Not Disclose It In Personal Financial Disclose Forms

Ryan Did Not Disclose Any Stake In TLS Partners In His Personal Financial Disclosures.  Since 1999, Ryan has not disclosed any ownership interest in TLS Partners, LLC in any of his personal financial disclosure forms.  [Personal Financial Disclosure, “Schedule III – Assets and Unearned Income,” Office of the Clerk for the U.S. House of Representatives, Paul Ryan, 19981999200020012002200320042005200620072008, 2009Amended 20092010Amended 20102011,Amended 2011] 2010-2011: Ryan Reported A Cumulative Income Loss Of $178 From Stake in TLS Partners LLC.  According to Ryan’s 2010 and 2011 individual tax return, he took a cumulative $178 loss in income from a stake in TLS Partners LLC.  Ryan’s investment in TLS Partners LLC is detailed in the table below:
Year Investment Name Income Profit
2011 TLS Partners, LLC

-$75

2010 TLS Partners, LLC

-$103

Total:

-$178

[Form 1040 Individual Income Tax Return, Internal Revenue Service, Paul & Janna Ryan, 20102011]

Ryan’s Tax Returns Reported Investment In Oil And Natural Gas Exploration Business, LongFellow Energy LP – But Did Not Disclose It In Personal Financial Disclosure Forms

Ryan Did Not Disclose Any Stake In Longfellow Energy LP In His Congressional Personal Financial Disclosures.  Since 1999, Ryan has not disclosed any ownership interest in Longfellow Energy, LP in any of his Congressional personal financial disclosure forms.  [Personal Financial Disclosure, “Schedule III – Assets and Unearned Income,” Office of the Clerk for the U.S. House of Representatives, Paul Ryan, 19981999200020012002200320042005200620072008, 2009,Amended 20092010Amended 20102011Amended 2011] 2010-2011: Ryan Took A Cumulative $164 In Income From Investment In Longfellow Energy LP.  According to Ryan’s 2010 and 2011 individual tax return, he took $164 worth in investment income from his stake in Longfellow Energy, LP.  Ryan’s investment in Longfellow Energy is detailed in the table below:
Year Investment Name Income Profit
2011 Longfellow Energy, LP

$6

2010 Longfellow Energy, LP

$158

Total:

$164

[Form 1040 Individual Income Tax Return, Internal Revenue Service, Paul & Janna Ryan, 20102011] Longfellow Energy LP Formerly Named “Deut 8 Holdings LP” Referring To Biblical Passage Deuteronomy Eight, Concerning The Inheritance Of Land.  Since the company’s inception in June 2001, its original name and listed General Partner makes references biblical passages concerning the inheritance of land in Deuteronomy – Chapter Eight – through its original name of “Deut 8 Holdings LP,” and its general partner “Deut 8 LLC.”  [Certificate of Limited Partnership, Texas Secretary of State, Deut 8 Holdings LP, Filed 6/19/01; Articles of Organization, Texas Secretary of State, Deut 8 LLC, Filed 6/8/01; Vatican New American Bible, “The Pentateuch, Deuteronomy, Chapter 8,” www.vatican.va]

Ryan Failed to Disclose Role with Family Real Estate Partnership

Ryan Did Not List Position With Ryan Family Real Estate Limited Partnership On Congressional Financial Disclosures. Between 2001 and 2011, Ryan did not list a position with the Ryan Family Real Estate Limited Partnership on his Personal Financial Disclosures, filed with the Clerk of the House of Representatives.  [Certificate of Domestic Limited Partnership, Wisconsin Department of Financial Institutions, Ryan Family Real Estate Limited Partnership, Filed 4/16/01; PersonalFinancial Disclosure, “Schedule VIII – Positions,” Office of the Clerk for the U.S. House of Representatives, Paul Ryan, 20012002200320042005200620072008, 2009Amended 20092010Amended 20102011Amended 2011]

Monday, Oct 8 2012

VIDEO: Watch Mandel Argue with a Video Tape

After grabbing an American Bridge tracker’s camera in an elevator, Josh Mandel has repeatedly attempted to accuse our tracker of initiating contact. The only problem is, witnesses and a video recording of the incident tell a very different story. Despite clear proof to the contrary, Mandel continues to inexplicably lie every chance he gets. But he can't shove the truth into a corner.

Thursday, Oct 4 2012

NEW VIDEO: Josh Mandel, The No-Show Treasurer

WASHINGTON - On the heels of a report yesterday showing that Josh Mandel has skipped every meeting in his first year in office of eight boards on which he sits, American Bridge today is releasing a new video entitled “Josh Mandel, the No-Show Treasurer.” In Mandel’s second year in office, he has attended a grand total of seven Board of Deposit meetings, which he only started attending after the AP noted his absence. He has still not attended a single meeting of any of the other seven boards.

Wednesday, Oct 3 2012

DEBATE PREP: American Bridge Releases 25 Issue Briefs on Romney’s Record

American Bridge today released 25 policy-based research briefings laying out the truth about Gov. Mitt Romney’s record. Romney recently expressed his concern that President Obama will “say things that aren’t true” in their upcoming debate. It takes some brass for Mitt to make that statement, considering his own history of mendacity.

Wednesday, Oct 3 2012

American Bridge's Questions For Mitt Romney

This year, American Bridge was hoping we’d get the call to host one of the presidential debates. Unfortunately, though admittedly unsurprisingly, that wasn’t the case. While we’re still holding out hope that Candy Crowley will use our best “this or that” submission, these are the questions we would have asked Mitt Wednesday night. (And be sure to click through to our Bridge Briefs to see the answers Mitt wouldn’t have given.) 1) Studies indicate your plan to block grant Medicaid would result in 14-27 million people losing health care insurance, half of them children. Do you think the American people would prefer health care for children or tax cuts for millionaires? 2) What did you mean when you said immigrants come here “looking for a free deal?” Would you veto legislation that offers a path to citizenship for individuals brought here as children and who have proven their commitment to American ideals by completing college or serving in the US military? 3) What did you mean when you said you were open to private sector competition in veterans’ health care? 4) Why would a Romney presidency be different than a Romney governorship, when Massachusetts lagged behind other states in job creation, ranking 47th out of 50? 5) As governor, why did you veto funding for breast and cervical cancer treatment and prevention? 6) Twice in the last 15 years - when the tech bubble burst and the recent Wall Street crisis - many people lost everything they had in the stock market. Do you still support private accounts for Social Security that would subject people’s savings to those fluctuations, and what would you propose so that people who did lose everything didn’t starve? 7) What specific tax breaks and loopholes would you eliminate to make your tax cuts for the wealthy revenue-neutral, and would these be applied to middle- and working-class families? See more questions after the jump.

Tuesday, Oct 2 2012

BRIDGE BRIEFING: Romney And LGBT Issues

Romney Promised Not To Fight Against Same Sex Marriage But Did Anyway

In 2002, Romney Told Log Cabin Republicans He Would Not “Champion” A Fight Against The Massachusetts Ruling On Same Sex Marriage. According to the New York Times, “Mitt Romney seemed comfortable as a group of gay Republicans quizzed him over breakfast one morning in 2002. Running for governor of Massachusetts, he was at a gay bar in Boston to court members of Log Cabin Republicans. Mr. Romney explained to the group that his perspective on gay rights had been largely shaped by his experience in the private sector, where, he said, discrimination was frowned upon. When the discussion turned to a court case on same-sex marriage that was then wending its way through the state’s judicial system, he said he believed that marriage should be limited to the union of a man and a woman. But, according to several people present, he promised to obey the courts’ ultimate ruling and not champion a fight on either side of the issue. ‘I’ll keep my head low,’ he said, making a bobbing motion with his head like a boxer, one participant recalled.” [New York Times, 9/8/07]
  • Romney’s Deputy Political Director Confirmed Romney Promised Log Cabin Republicans He Would Not Champion A Fight Against Same Sex Marriage. According to the New York Times, “Calling Mr. Romney a flip-flopper on gay rights would be overly simplistic, Mr. Spampinato said. But he conceded that his old boss had promised the Log Cabin members that he would not champion a fight against same-sex marriage. ‘It’s definitely a shift in political priorities and strategy,’ he said.[New York Times, 9/8/07]
In 2003, Romney Sought Constitutional Amendment In Massachusetts Preserving Marriage Between A Man And A Woman. According to Voice of America News, “Mitt Romney, who in an interview with NBC television announced he would be seeking a state constitutional amendment that would effectively bar homosexuals from marrying one another… ‘I think the people of Massachusetts will take necessary corrective action to assure [sic] that the institution of marriage is preserved between a male and a female. Of course, at the same time, reaching out to gay couples, providing necessary civil rights and certain appropriate benefits. But marriage is an institution between a man and a woman.’” [Voice of America News, 12/18/03]

News Tuesday, Oct 2 2012

BRIDGE BRIEFING: Mitt Romney On Osama bin Laden

Romney Said It Was “Not Worth Moving Heaven And Earth” To Capture Osama Bin Laden Because America Would See An “Insignificant” Increase In Safety After His Capture. In an interview with Liz Sidoti of The Associated Press, Romney said, “the country would be safer by only ‘a small percentage’ and would see ‘a very insignificant increase in safety’ if al-Qaida leader Osama bin Laden was caught because another terrorist would rise to power. ‘It’s not worth moving heaven and earth spending billions of dollars just trying to catch one person,’ Romney said. Instead, he said he supports a broader strategy to defeat the Islamic jihad movement.” [The Associated Press, 4/26/07] Romney Attacked Obama For Promising Unilateral Action Against Al Qaeda Targets in Pakistan. Accoridng to Retuers, “Republican presidential candidate Mitt Romney criticized Democrat Barack Obama on Friday for vowing to strike al Qaeda targets inside Pakistan if necessary as the Obama camp issued a strident defense of his plan. What had been an internecine foreign policy battle between rival Democrats Obama, an Illinois senator, and New York Sen. Hillary Clinton, spilled into the Republican arena in the heavily contested state of Iowa. ‘I do not concur in the words of Barack Obama in a plan to enter an ally of ours... I don’t think those kinds of comments help in this effort to draw more friends to our effort,’ Romney told reporters on the campaign trail. Obama on Wednesday said if elected president in November 2008 he would be willing to launch military strikes against al Qaeda targets inside Pakistan with or without the approval of the Pakistani government of President Pervez Musharraf. ‘If we have actionable intelligence about high-value terrorist targets and President Musharraf won’t act, we will,’ Obama said.” [Reuters, 8/4/07] Romney Said Using U.S. Troops In Pakistan Was Not “Civilized.” According to the Associated Press, “Romney spoke at a luncheon meeting of young Republicans in Des Moines and later with reporters who asked for his reaction to Obama’s comments. In a speech this week, the senator from Illinois issued a warning to Pakistani leaders that if they didn’t do a better job of rooting out terrorists who use that country as a sanctuary, the U.S. might intervene with force. Instead of issuing threats, the U.S. should work with nations to root out extremist forces which may exist, Romney said. ‘We want as a civilized world to participate with other nations in this civilized effort to help those nations reject the extreme within them,’ Romney said. ‘That doesn’t mean that our troops are going to go all over the world.’” [Associated Press, 8/3/07]

Tuesday, Oct 2 2012

BRIDGE BRIEFING: The Truth About Mitt Romney's Defense Cuts Claim

Mitt Romney Wrote That One Of The Agendas For A Free And Strong America Was To “Add At Least 100,000 Troops To Our Ground Forces…” In his book “No Apology” Mitt Romney wrote that one of the agendas for a free and strong America was to “Add at least 100,000 troops to our ground forces; provide top quality care and benefits to our veterans.” [“No Apology” 2011 Pg. 320] Mitt Romney Wrote That One Of The Agendas For A Free And Strong America Was To “Return Our Navy And Air Force To The Levels Needed To Meet Their Respective Missions.” In his book “No Apology” Mitt Romney wrote that one of the agendas for a free and strong America was to “Return our navy and air force to the levels needed to meet their respective missions.” [“No Apology” 2011 Pg. 320] In 2007, Romney Ran A Campaign Ad Promising To Increase The Military By 100,000. According to First Read, the TV ad ran in Iowa and Romney said, “It’s this century’s nightmare, Jihadism - violent, radical Islamic fundamentalism. Their goal is to unite the world under a single Jihadist caliphate. To do that, they must collapse freedom-loving nations like us. As President, I’ll strengthen our intelligence services. Increase our military by at least 100,000. And monitor the calls Al-Qaeda makes into America. And we can and will stop Iran from acquiring nuclear weapons.” [First Read, 10/12/07] In 2007 Romney Wrote That He Supports Increasing The Military By 100,000 Troops. Romney wrote, “First, we need to increase our investment in national defense. This means adding at least 100,000 troops and making a long-overdue investment in equipment, armament, weapons systems, and strategic defense.” [Foreign Affairs, July/August 2007]

Tuesday, Oct 2 2012

BRIDGE BRIEFING: The Truth About Massachusetts's Bond Rating Increase

Romney Increased Massachusetts’s Bond Rating Through “Tax Increases And The Closing Of Tax Loopholes.” According to the Wall Street Journal, “Former Gov. Mitt Romney boasted this week that when he led Massachusetts, he presided over an increase in the state’s bond rating, a contrast to President Barack Obama, who saw Standard & Poor’s downgrade U.S. debt. But Mr. Romney had an advantage that Mr. Obama sorely wanted but could not get from Congress: tax increases and the closing of tax ‘loopholes.’ Documents obtained by The Wall Street Journal Wednesday through the Freedom of Information Act show the Romney administration’s pitch to S&P in late 2004 included the boast that ‘The Commonwealth acted decisively to address the fiscal crisis’ that ensued after the terrorist attacks of 2001. Bulleted PowerPoint slides laid out the actions taken, including legislation in July 2002 to increase tax revenue by $1.1 billion to $1.2 billion in fiscal 2003 and $1.5 billion to $1.6 billion in fiscal 2004; tax ‘loophole’ legislation that added $269 million in ‘additional recurring revenue,’ and tax amnesty legislation that added $174 million. The final bullet: ‘FY04 budget increased fees to raise $271 million yearly.’” [The Wall Street Journal, 8/10/11]

Tuesday, Oct 2 2012

BRIDGE BRIEFING: Romney And Social Security

Romney Said That Social Security Must Be Reformed By Gradually Raising The Retirement Age And By Using Progressive Indexing. According to the Concord Monitor, “But he said Social Security must be reformed for future recipients who are in their early 50s and younger. Romney offered two ideas: gradually raising the qualifying retirement age and using progressive indexing, which slows the increase in benefit levels for high earners by tying the increase to the price index, rather than the quicker-growing wage index now in use.” [The Concord Monitor, 8/16/11] Romney Proposed Gradually Raising Retirement Age Based On “Increases In Longevity.” According to Romney’s Plan to Turn Around the Federal Government, “Gradually raise the retirement age to reflect increases in longevity.” [Romney’s Plan to Turn Around the Federal Government, 11/4/11]

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