Romney says he 'probably' paid only a 15 percent tax rate; Gingrich demands full story

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  • Brother Chuck Schroeder A Tropical Paradise USA, FL
    Jan. 17, 2012 5:58 p.m.

    I told you I would tell you the truth about "the anointed one" Mitt Romney. Bain Capitalist Romney. OUR success is hardly guaranteed, as Romney's experience shows. More than four years after the United States fell into recession, many Americans have resorted to raiding their savings to get them through the stop-start economic recovery. (Like the run on the Banks that caused the Great Depression in the 20's that lasted into 1945). In an ominous sign for America's economic growth prospects, workers are paring back contributions to college funds and growing numbers are borrowing from their retirement accounts. Some policymakers worry that a recent spike in credit card usage could mean that people, many of whom are struggling on incomes that have lagged inflation, are taking out new debt just to meet the costs of day-to-day living. American households have been spending recently in a way that did not seem in line with income growth. So somehow they've been doing that through perhaps additional credit card usage. Just as Americans used to borrow against the value of their homes before the property crash, now many are taking out loans from their 401(k) retirement savings plans.