While the news that Mitt Romney has joined Warren Buffet in the "my secretary makes more than me" 15% tax club has come and gone, even as America appears largely confused or dismissive that Romney, at least on paper appears to be precisely the puppet that Wall Street [10]wants put in charge, we are not so sure how it will react to discovering that in addition to all of the above, Romney also holds a substantial of his assets deep offshore, in the much maligned recently Cayman Islands. As a reminder, it has long been Obama's "tax-policy" to force repatriation of virtually all individual tax holdings held abroad, both legally and illegally, much to the detrimental collapse in the UBS business model. Yet apparently when it comes to potential future presidents, loopholes are quite welcome. Especially when as ABC reports, "the offshore accounts have provided him -- and Bain -- with other potential financial benefits, such as higher management fees and greater foreign interest, all at the expense of the U.S. Treasury." As a reminder: "Rebecca J. Wilkins, a tax policy expert with Citizens for Tax Justice, said the federal government loses an estimated $100 billion a year because of tax havens." But who needs taxes when America can just print all the money it will need to fund its deficit in perpetuity. Just ask the Neo-Keynesians. Perhaps all these are questions that the candidate that so hard is trying to channel Ronald Reagan and so far failing, can finally address once and for all, before he moves into one of his patented Obama bashing subject changing routing.
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8 comments:
if this is legal, so what.
Mitt keeps putting his foot in his mouth sounding like an elitist.
I.E. Oh $357,000 isn't that much money. Reaching out during a debate wanting to bet Rick Perry $10,000 like it's just pocket change.
I don't mind people having money, just don't rub my nose in it!
Was the author and the MSM as interested in how John Kerry got his millions? Or how John Edwards was getting his millions? (ambulance chaser) Or how that Al Gore has been making his millions championing the "Global Warming" farce? NOOOOO! OF COURSE NOT!!!
11:45,
The reason you know those things is that the MSM reported on it, so yes, they were interested in how other candidates got their millions. This is part of every election. Doesn't it bug you that the super rich write tax laws that benefit the super rich?
If he hasn't done anything illegal this is a non story.
Tim,
Your statement is contradictory, Mitt didn't rub you nose in his money, you decided to get offend by his statement of how little he thought of $375,000.
Im sure every congressman has one also.
The last time I wired money to an account in the Cayman's I was red flagged.They wired it back uncontested and I ended up paying taxes on it anyway.
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