How Romney Did it:
Romney ran a company called Bain Capital. Under Romney’s ineffable leadership it bought an Illinois company called Dade. After some manipulations, streamlining, slashing benefits, and more aggressive marketing, Dade got bigger. Then Bain Capital wanted to cash out. But nobody would offer the kind of money for Dade that Bain Capital felt it deserved. No problem.
Dade borrowed hundreds of millions of dollars to… buy itself! From Bain! At the direction of Bain! What kind of price did they pay? Ask yourself: how much do you think you should get for you? You betcha!
The story has a tragic end. Dade, now burdened with hundreds of millions of dollars in debt could no longer afford to innovate and soon went bankrupt.
That’s how Romney “creates jobs”: he buys you. Then he borrows your money to buy yourself back from him at a very good price. He ends up with a pile of money and you end with a pile of debt. To top it off, he pays less tax on the capital gains profits he made than you did on the salary you no longer receive because you went bankrupt.