Wait! Don't tell me. Cuz they're "offshore"?
Otherwise, tell me when Romney does something illegal. This guy's like Eliot Spitzer -- goes after people doing legal things because he doesn't like what they're doing.
RE: Otherwise, tell me when Romney does something illegal. This guy’s like Eliot Spitzer — goes after people doing legal things because he doesn’t like what they’re doing.
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We DO KNOW that unlike Newt, Romney has not (at least not yet ) divulged his tax returns.
We also now know from some intrepid source that Romney has an account in the Caymans with at least 8 Million dollars.
We DO NOT KNOW what currency that account is in.
If it is in Australian Dollars, he is probably earning about 4% on interest ( assuming it is a term deposit for say, a year ).
4% of 8 million is $320,000 (without even considering appreciation of the Aussie currency ).
Question -— Isn’t that INCOME of over $300,000 TAXABLE in the USA? If Romney did not declare that income in his 2011 tax returns, he is EVADING taxes and is liable for prosecution.
If he is not prosecuted, then where’s justice?
I know of a Korean immigrant whose father left him an inheritance of $500,000 3 years ago IN KOREA.
The money belonged to his family and was earned IN KOREA. It NEVER came to the USA. Yet, the IRS somehow got to know about it ( from the immigrant’s bitter ex wife ). Now he’s being given a hard time by the IRS who wants to lay claim on that money.
Compare this to Romney potentially getting away with his interest from $8 million, is this justice? Is this fair?
If the government can snoop on your private investments made overseas. In what sense are we still a free country?