Skip to comments.Romney Parks Millions in Offshore Tax Haven
Posted on 01/18/2012 2:20:16 PM PST by Sub-Driver
Romney Parks Millions in Offshore Tax Haven
By MATTHEW MOSK, BRIAN ROSS (@brianross) and MEGAN CHUCHMACH (@megcourtney) Jan. 18, 2012
Although it is not apparent on his financial disclosure form, Mitt Romney has millions of dollars of his personal wealth in investment funds set up in the Cayman Islands, a notorious Caribbean tax haven.
A spokesperson for the Romney campaign says Romney follows all tax laws and he would pay the same in taxes regardless of where the funds are based.
As the race for the Republican nomination heats up, Mitt Romney is finding it increasingly difficult to maintain a shroud of secrecy around the details about his vast personal wealth, including, as ABC News has discovered, his investment in funds located offshore and his ability to pay a lower tax rate.
"His personal finances are a poster child of what's wrong with the American tax system," said Jack Blum, a Washington lawyer who is an authority on tax enforcement and offshore banking.
(Excerpt) Read more at abcnews.go.com ...
So will the right.
“...investment funds set up in the Cayman Islands, a notorious Caribbean tax haven.”
“Notorious” my ass.
The Commies don’t like it when the affluent find ways to defeat their thieving money traps.
If I had millions, I would do the same. There’s nothing illegal about it, and with our tax laws, high corporate taxes, and questionable bank security, it’s a good idea. If the Dims use this, then it can easily be turned against them because they all do it, too.
It will be fun seeing him dance around this at next debate, coming up thursday.
But not if you’re running for President. No way!
If the answers are yes and no, respectively, then I would say it is none of my business or anyone elses business what he does with his money.
Hey ABC! Have a great time with Obama Day at Walt Disney World, you scumbags.
It’s a tax haven only if you cheat on your taxes. Just because the money is in a Caymen Island fund doesn’t mean you are allowed to pay less in taxes. It just means it’s easier to cheat.
I call, "Bullshit." If this was true, the funds would be based in the U.S.
Romney also made money off investing in a company that disposed of the bodies of aborted babies, calling them “waste”
Charlie Rangel has a government paid condo in the Caymans where he stays when he goes to deal with the bank where his money is parked.
Most of your retirees pay higher taxes than Mitt.
Well sure it’s legal. I’d do the same thing too. But that’s not the point. This is one of about 20 good, solid reasons why a Romney Nomination is an Obama landslide.
The Elite, yet again, are hurtling us toward disaster.
so does huckabee
this is a big “so what”
The real question should be why does this have to exist for anyone. The USA should be INviting to money, not exclusionary.
>>>”A spokesperson for the Romney campaign says Romney follows all tax laws and he would pay the same in taxes regardless of where the funds are based.”
I call, “Bullshit.” If this was true, the funds would be based in the U.S. <<<<
There is a decent chance the part about “following all tax laws” is true. Whatever tax avoidance scheme he might be involved in is probably legal, or at least hasn’t been deemed illegal yet.
The part where he says he would pay the same taxes regardless of where the funds are based smells like bs. If there is no tax benefit, there would seem to be no reason to keep the funds in the Caymans, unless they were from illicit activities.
Another possibility, what if Willard parked the cash there to hide it from the LDS tithe police?
At any rate, millions in offshore accounts is not going to look good for someone running for POTUS.
According to Rush Limbaugh on his show today, so do the Clintons. I'd guess that most of the elected criminals in DC have offshore accounts unless they have a freezer the size of a house.
Romney says he pays 15% income tax, but pushes for a 35% tax rate for the “wealthy.” Then hides his own wealth offshore in tax havens?
I wasn’t defending Romney’s two-faced socialism, just attacking the LeftMedia’s characterization of offshore tax havens.
Entities that owe their existence to the unfair, convoluted and anti-productivity US tax system.
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