Skip to comments.Romney Failed to Disclose Swiss Bank Account Income
Posted on 01/26/2012 2:32:38 PM PST by Raebie
Mitt Romney's campaign is amending the financial disclosure form he filed in 2011 to acknowledge that a Romney trust earned interest income from a Swiss bank account, a detail that had been missing from the report.
"An amendment is being filed to address this minor discrepancy," a campaign official told ABC News in an email Thursday in response to questions about the apparent omission.
"The inescapable fact is that by releasing over 600 pages of information regarding his finances, Mitt Romney is clearly coming down on the side of disclosure," said Andrea Saul, a campaign spokeswoman, in a subsequent statement. "Any document with this level of complexity and detail is bound to have a few trivial inadvertent issues. We are in the process of putting together some minor technical amendments, which will not alter the overall picture of Gov. and Mrs. Romney's finances as disclosed in August."
The discovery that the Romneys had $3 million in an account with the Swiss bank UBS came only after the Republican presidential candidate released his tax returns for 2010 on Tuesday. The campaign had maintained that it was not necessary to disclose the Swiss account because Romney's money manager, Brad Malt, had shuttered it in early 2010.
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Does this mean that Romney is now liable for paying up to 50% of his undisclosed foreign account balances as a penalty to the IRS?
Probably at least 300K...perhaps more...depends on his details. Whatever it is, to most of us that is NOT insignificant nor trivial. I flunked math 27 times, I think but I know $1700 is incorrect.
So if he went into Saks Fifth Avenue and stole a $1700 wallet that would be the same as if the guy who makes $40,000 went into the 99 Cent store and stole 3 candy bars?
Is that how this works?
Well I have not heard one word from the Romney camp about Obama's ill gotten gains. NO instead Romney said his gains were just like Obama bailing out the auto industry, 'cash for clunkers' included. Romney is playing his own game of politics and forgetting, leaving out the reporting of all things 'evil' Swiss bank accounts, in some circles would be called an 'ethics violation'.
Agree. Where are they? I know you are supporting Newt now, but where are the conservatives? Why are we settling for him? I just don't get it.
Who is more conservative than Newt and is currently running for president on the GOP ticket?
Santorum isn't even running in Florida (and on his record he is more liberal than Newt). He's toast. Everyone else has dropped out.
Who are you going to support, the Anti-Establishment Newt or the Establishment Romney?
Newt is a pro-life, small government, strong defense, Reagan conservative. Wants to gut government, drastically reduce taxes and spending, neuter the Fed and the EPA, restore the constitution and the bill of rights especially the first, second and tenth amendments, defrock our black robed rulers, restore religious freedom and stop the wholesale slaughter of the innocent unborn!!
If what's reported on Drudge is true, $1,700 is indeed trivial to a millionaire.
I am going to support whoever is running against Obama. Period. Any one of them would be better than an Obama second term.
I am blown away by the number of freepers here who claim they will stay home if their guy doesn't get the nomination.
Obama Out is job one.
I'll add to that question: How can he have a Swiss bank account when I know Swiss citizens living here are forced to close their Swiss accounts while legally residing in the U.S.?
I hope you are right about all that.
It all smells to me....
It smells to me....
I’ll gladly take that interest!!!!!!!!!!!! Sounds like Romney doesn’t need it.
True, but more fun will be had with the bashing.
It is a sad commentary on the times that you can have 3Mil in the bank and only earn $1,700 in interest.
If you know where there’s a savings account that is paying more than mere fractions of a percent rates... I’m all ears.
Is that how this works?
It's got nothing to do with stealing, it's about keeping track. Someone making $40,000.00 could easily forget about where $3.00 is, someone making $21,000,000.00 could easily forget about where $1,700.00 is.
Actually, it only says the account is with UBS. UBS has it’s headquarters in Switzerland, but I think they’re going for the extra-zingy headline by calling it a “swiss bank account”. It’s a bank account, and the bank was originally Swiss, but they also have offices all over the US.
The first step in getting Obama out is to keep Romney from getting the nomination. I will not vote for Romney for any office under any circumstances. There are millions of Tea Party Conservatives who feel the same way. Job one is to stop Romney. We have less than 6 months to accomplish that task. At this point it is NEWT OR BUST.
BTW we won't stay home. We will vote for Senate and Congress and possibly third party. But we won't vote for Romney.
Don't throw facts at a demonization frenzy.