Interviews

Mitt Romney's Wealth Under Attack

Megyn Kelly on Romney's money and tax returns plus schools tracking students electronically

 

This is a RUSH transcript from "The O'Reilly Factor," January 19, 2012. This copy may not be in its final form and may be updated.

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BILL O'REILLY, HOST: In the "Kelly File" segment tonight, as you may know, Ms. Megyn hosts a news block from 1 to 3 every weekend afternoon on FNC. So she's been doing a lot of reporting on Mitt Romney and his money. She joins us now.

I'll tell you, you know, I watch your show. I'm very busy writing and creating and doing what I do every day.

MEGYN KELLY, ANCHOR: I know. Thank you for the time you give us.

O'REILLY: But the monitor is there. And when you have something about Romney and people over at the FOX Business Channel, you get them over and this, that, and the other thing.

What is the consensus, is Romney's $200 million and his money. Is Romney's 200-million-dollar fortune and the way he has invested it going to be a problem for him going forward?

KELLY: Not that I'm hearing from the people who have been studying this so far. It looks like, obviously, his rivals will try to make it an issue.

O'REILLY: Yes.

KELLY: And you can expect it not to go away because, you know, people who don't want him to win the nomination and/or the presidency are going to stay on it. But the folks who have objectively analyzed what he's done, how he's made his money, how he's invested his money tell me that there's nothing particularly unusual about it.

The thing came out this week that he pays about a 15 percent tax rate.

O'REILLY: On cap gains.

KELLY: That's right, because that's how he makes most of his money, and that's perfectly legal. It may not play well politically. People may not like it. But once he's given the chance to explain it and people really listen to it, they will learn that that...

O'REILLY: He hasn't really explained it well, has he?

KELLY: No. He hasn't really spoken it at all. Given a sound bite saying it's about a 15 percent rate.

O'REILLY: His tax returns, do you think they put those out there and just get that behind them him.

KELLY: Sounds like he's going to. Maybe around April.

O'REILLY: By April he could be going the way of Governor Perry.

KELLY: Listen, it sounds like he's giving us the headline that perhaps his campaign thought would be problematic already, the 15 percent tax rate, which you know, a lot of people say wait a minute. Wait a minute.

O'REILLY: He's admitted to it already.

KELLY: Yes, you get it out there in advance and have people sort of react to it before you actually do a document dump on them. Now there's a story out this week that he's got investment in the Cayman Islands, that...

O'REILLY: The offshore accounts.

KELLY: But they call that a tax haven. But you know...

O'REILLY: Paid all his taxes.

KELLY: They say he paid the same rate over there that he would pay here. And the reason is he invested in the Cayman Islands, because he's got a blind trustee, who he's blind in the trust. And the trustee makes investments, and his money goes to the Cayman Islands. The bottom line is...

O'REILLY: My accountant is blind and he's deaf and he's dumb. Right? I don't know where my money is. Don't worry about it, Bill. I can't see, hear or anything.

KELLY: Laying the foundation for when the IRS...

O'REILLY: Right. A guy like Romney has so much money. He doesn't pay any attention. He hires a guy named Ziggy and his firm, and they do it.

KELLY: People -- people are upset, some people -- some of the critics are upset because he didn't pay the maximum. He took advantage of tax loopholes. I mean, what do you expect. Doesn't everybody?

O'REILLY: Kelly, I've got a lot of mail from conservative Republicans who don't like the way Romney presents on the money issue. They just think he's way out of touch from their concerns. And I think the governor has got to wise up pretty fast.

KELLY: I think that's probably more related to the "I'll bet you $10,000" than it is "I took advantage of a tax loophole."

O'REILLY: Whatever it is, the problem is that he has no idea what the regular folks go through, which is not going to be a good thing if he gets the nomination.

KELLY: I bet you $10,000. We're on.

O'REILLY: Make sure Long Island they strap on little electronic gismos to chubby students now to see what they're eating and how they are exercising? Is that what they are doing?

KELLY: It's part of an effort to monitor obesity, but they forgot about secret option No. 2, your eye also tell you whether the students are obese without any invasion of privacy.

O'REILLY: They want to see, you know, what they're doing as far as maybe trying to get them to slim down.

KELLY: They want to monitor their heart rate.

O'REILLY: You have to get parental permission to slap this thing on.

KELLY: It's not clear. At least one set of parents are claiming that their permission was not asked for or given, but it seems like that would have to be.

O'REILLY: What gizmo is it? Where do you put the gizmo?

KELLY: It's on their wrist. When you reach for the pizza you get zapped. No.

O'REILLY: No. Reports back how much they're sitting, how much they're sleeping, watching TV to see if they're getting exercise.

KELLY: If they are not getting enough exercise. They have it down to the science. You open up the cupboard. You grab cookies and hear moo.

O'REILLY: This is Big Brother stuff. That can't be allowed to happen.

KELLY: I think it's ridiculous. Look, I understand parents should have their kids -- they should watch their kids for obesity. It's a major problem. But really? You're going to give them wrist guards so that they're going to have their heart rate monitored? Like, you would just do it the old-fashioned way, when you look at your children and then you educate them with words.

O'REILLY: Remember, all parents aren't good parents. They can do that with drug involved children, too.

KELLY: So far they say that's not the purpose for it. But the ACLU has a legitimate argument.

O'REILLY: I think so. I don't like to side with the ACLU.

KELLY: They're saying you just wait until the insurance companies come after your child's information.

O'REILLY: But, if the parent signs a waiver and says, "We want this, because we can't control. We'd like more data. I would be OK with it. But you just can't slap the thing on the kids.

KELLY: If they do it without the parents' consent there could be a potential lawsuit.

O'REILLY: Yes. I'd like -- I'd like to do that to Alan Colmes, slap the thing on him. Thought process because I don't know where this guy.

KELLY: What, are you going to change the way these segments work?

O'REILLY: All right. Megyn Kelly, everyone.

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