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From 1978 to 1984, Romney was a vice president of Bain & Company, Inc. a worldwide management consulting firm, and in 1984, Romney co-founded a spin-off called Bain & Company. He invested in or bought many well-known companies such as Staples, Brookstone, Domino's, Sealy Corporation and Sports Authority.  Critics say he advised corporations to cut their U.S. taxes by reincorporating in Caribbean tax havens such as the Caymen Islands, while maintaining their operations in the U.S.

From 1978 to 1984, Romney was a vice president of Bain & Company, Inc. a worldwide management consulting firm, and in 1984, Romney co-founded a spin-off called Bain & Company. He invested in or bought many well-known companies such as Staples, Brookstone, Domino's, Sealy Corporation and Sports Authority.  Critics say he advised corporations to cut their U.S. taxes by reincorporating in Caribbean tax havens such as the Caymen Islands, while maintaining their operations in the U.S.

==Governor of Massachusetts==

==Governorship of Massachusetts==

[[Image:Romneygovernor.jpg‎|right||thumb|180px|Governor Romney's 2006 State of the State Address.]] Romney served one term as governor of Massachusetts (2003-2007), with a generally [[conservative]] record that included economic expansion. He balanced the budget every year of his administration with out increasing taxes or increasing state dept. Romney closed a $3 billion budget gap by reducing government spending and created 60,000 new jobs. In 2004, 2005, and 2006 Governor Romney proposed cutting the state income tax from 5.3% to 5.0% <ref>http://www.clubforgrowth.org/2007/08/mitt_romneys_record_on_economi.php</ref>. Although the Democratic super majority in the state legislator refused to budge. Romney vetoed an increase in the minimum wage, saying "there's no question raising the minimum wage excessively causes a loss of jobs." <ref>Telegram & Gazette, 08/01/06</ref> Under Governor Romney the state abolished a retroactive capital gains tax that would have forced nearly 50,000 taxpayers to pay additional taxes and fees. <ref>http://www.americansformitt.com/</ref> Massachusetts Citizens For Limited Taxation Executive Director Barbara Anderson praised Romney, saying "There was no one else out on the horizon and with the legislature almost entirely Democratic, we felt it was necessary to have a grown-up in the corner office. … And we were right to back him. He's been a really good friend to the taxpayers."  

[[Image:Romneygovernor.jpg‎|right||thumb|180px|Governor Romney's 2006 State of the State Address.]] Romney served one term as governor of Massachusetts (2003-2007), with a generally [[conservative]] record that included economic expansion. He balanced the budget every year of his administration with out increasing taxes or increasing state dept. Romney closed a $3 billion budget gap by reducing government spending and created 60,000 new jobs. In 2004, 2005, and 2006 Governor Romney proposed cutting the state income tax from 5.3% to 5.0% <ref>http://www.clubforgrowth.org/2007/08/mitt_romneys_record_on_economi.php</ref>. Although the Democratic super majority in the state legislator refused to budge. Romney vetoed an increase in the minimum wage, saying "there's no question raising the minimum wage excessively causes a loss of jobs." <ref>Telegram & Gazette, 08/01/06</ref> Under Governor Romney the state abolished a retroactive capital gains tax that would have forced nearly 50,000 taxpayers to pay additional taxes and fees. <ref>http://www.americansformitt.com/</ref> Massachusetts Citizens For Limited Taxation Executive Director Barbara Anderson praised Romney, saying "There was no one else out on the horizon and with the legislature almost entirely Democratic, we felt it was necessary to have a grown-up in the corner office. … And we were right to back him. He's been a really good friend to the taxpayers."  

[[Image:Dude and mitt romney.jpg|right|180px]] As chairman of the [[Republican Governors Association]], Romney campaigned nationwide for GOP gubernatorial candidates in 2006, building up a network of allies and supporters. While he did not run for reelection as governor, in 2004 Romney set up a federal political action committee (PAC) called the Commonwealth PAC, which raised $2.71 million during the 2006 election cycle. On January 3, 2007, his next-to-last day in office as governor of Massachusetts, Romney filed to form a presidential exploratory committee with the Federal Election Commission. He officially announced his candidacy for President a month later. Romney was the first candidate in either party to start running television and radio ads. The ads focused mainly on his record as governor, running the 2002 Salt Lake Olympics, and his work as a very successful businessman. Romney's five sons had been actively campaigning for their father, traveling around in a campaign bus called the "Mitt Mobile, A Five Brothers Bus."

[[Image:Dude and mitt romney.jpg|right|180px]] As chairman of the [[Republican Governors Association]], Romney campaigned nationwide for GOP gubernatorial candidates in 2006, building up a network of allies and supporters. While he did not run for reelection as governor, in 2004 Romney set up a federal political action committee (PAC) called the Commonwealth PAC, which raised $2.71 million during the 2006 election cycle. On January 3, 2007, his next-to-last day in office as governor of Massachusetts, Romney filed to form a presidential exploratory committee with the Federal Election Commission. He officially announced his candidacy for President a month later. Romney was the first candidate in either party to start running television and radio ads. The ads focused mainly on his record as governor, running the 2002 Salt Lake Olympics, and his work as a very successful businessman. Romney's five sons had been actively campaigning for their father, traveling around in a campaign bus called the "Mitt Mobile, A Five Brothers Bus."

As a presidential candidate Romney sought the support of the business community and social conservatives.  He reversed moderate positions on abortion and gay rights to take a hardline conservative position on them, and on opposition to illegal immigrants. Opponents charged he changed too often. Romney was a leader in fund-raising, augmented by over $35 million from his own fortune. He has sponsored by far the greatest number of TV commercials of any candidate.  However he was little known outside of Massachusetts, so his strategy was to play for early wins in Iowa and New Hampshire, then "sling-shot" the momentum into national visibility.  After leading in both states the tide turned suddenly and he lost to [[Mike Huckabee]] in Iowa and [[John McCain]] in New Hampshire, while picking up some uncontested delegates in Wyoming. ("Two silvers and a gold," his spinmeisters announced.)  The loss in New Hampshire, a neighboring state where had a summer house, indicated a narrow voter base in the primaries.

As a presidential candidate Romney sought the support of the business community and social conservatives.  He reversed moderate positions on abortion and gay rights to take a hardline conservative position on them, and on opposition to illegal immigrants. Opponents charged he changed too often. Romney was a leader in fund-raising, augmented by over $35 million from his own fortune. However he was little known outside of Massachusetts, so his strategy was to play for early wins in Iowa and New Hampshire, then "sling-shot" the momentum into national visibility.  Romney won the Michigan primary on January 16th, 2008, with 39% of the vote, edging out McCain with 30% and Huckabee with 16%.  Romney was favored to win in the state of his birth, where his father, [[George Romney]] was governor from 1963-1969.  After losing both the Iowa caucus and the New Hampshire primary (to Huckabee and McCain, respectively), Romney won a low-publicized Wyoming caucus. On January 19, Romney easily won the [[Nevada]] caucuses by 37 percentage points when there were seven candidates on the ballot, however, on that same day he placed a distant fourth in the [[South Carolina]] primary. After a disappointing performance on Super Tuesday, Romney announced the suspension of his campaign on Thursday 7th February. He expressed his wishes not to divide the Republican party and later endorsed Senator [[John McCain]] of [[Arizona]]. Commentators speculated on his chances for a return effort in 2012.

 

After the unexpected defeats Romney changed strategy and focused on caucus states, where his financial advantage could be used to hire local organizers to turn out upscale voters who attended caucuses.  Romney changed his rhetoric and began denouncing Washington, emphasizing his business skills, and promising large-scale federal help to the troubled Michigan economy, where the domestic auto companies have been doing very poorly.  He avoided collapse by a decisive over McCain in the Michigan GOP primary on Jan 15, with 39% of the vote, beating McCain with 30% and Huckabee with 16%.   

 

Religion was a negative factor for evangelicals who saw Mormonism an un-Christian cult. Romney, a former bishop, spoke in Texas on the need for religious tolerance. While his religion generally hurt his vote totals, it was a boon for him in Nevada, where one-fourth of the GOP caucus electorate was Mormon, and Romney won better than 90% of them against [[Ron Paul]]. Likewise it helped him sweep the Utah primary.  Romney outspent the field on TV ads in South Carolina and Florida. When he discovered he was doing poorly he pulled his advertising out of South Carolina and concentrated on Nevada, where the main contenders did not appear. Romney came in fourth place in South Carolina.  His decisive defeat came in the South. He lost to McCain in Florida, 36% to 31%, ceding the momentum to McCain.  Then Huckabee and McCain contested the remaining southern primaries, leaving Romney a poor third in the nation's conservative stronghold.<ref> Adam Nagourney, "McCain’s Victory in a Party-Only Primary Raises the Hurdles for Romney," [http://www.nytimes.com/2008/01/30/us/politics/30assess.html?ref=politics ''New York Times'' Jan. 30, 2008]</ref>

 

On Tsunami Tuesday Romney did well in caucus states, where his high-spending organizational efforts paid off amidst very low turnout. However, he did poorly in the primary states, notably California, where his $10 million advertising blitz was pushed aside by McCain, who ran only a few radio ads. The main base of the GOP is the South, but Romney ran a weak third in the region, as Huckabee captured the evangelical vote. The Romney campaign underwent repeated transformations, with new themes and new campaign slogans, new ads and new message strategies designed to reach the conservatives who listen to talk radio. One after another Romney sought an identity as the candidate of true fiscal, social and national security conservatism. He has portrayed himself as Mr Efficiency--as the corporate executive candidate who understands the economy "in my DNA."  He then attacked illegal immigrants, an issue that had little traction.<ref>In California Romney did much worse than polls predicted [http://www.realclearpolitics.com/epolls/2008/president/ca/california_republican_primary-258.html (the polls had him tied with McCain but he lost by 8 points]). In the closing days he banked heavily on the anti-immigrant argument with intense TV commercials. Romney did well among the 28% who saw illegal immigration as the top issue, beating McCain by 50%-26%. However he lost heavily among the 60% who were more tolerant of immigrants [http://www.msnbc.msn.com/id/21228167 (McCain won them by 50%-28%]). Asians and Latinos comprised 19% of the GOP vote in California; most are immigrants or children of immigrants and they voted for McCain over Romney by 48%-21%. </ref>  His last transformation came in February, with his claims to be the candidate of change, who will defeat the Washington insiders and elites, whom he links to McCain. On Tsunami Tuesday, ''Time'' magazine reports, his rhetoric took on a previously unseen, almost Trotskyite tenor: "It's time for the politicians to leave Washington and for we, the people, to take over!"<ref> Michael Scherer, "Romney's Big Push Nets Little," [http://www.time.com/time/politics/article/0,8599,1710284,00.html ''Time'' Feb. 06, 2008]</ref>

 

After spending $110 million, much of it from his own fortune, Romney closed his campaign two days after his disappointing showing on Tsunami Tuesday; he endorsed McCain as commentators speculated on his chances for a return effort in 2012.

===Fundraising===

===Fundraising===