PDA

View Full Version : Mitt Romney Romney has Millions in the Caymans.




hueylong
01-18-2012, 05:52 PM
Apparently, Bain has more than 100 offshore accounts in the Caymans. Not illegal, but pretty darn slimy.

http://abcnews.go.com/Blotter/romney-parks-millions-offshore-tax-haven

hueylong
01-18-2012, 06:02 PM
bimp

Feeding the Abscess
01-18-2012, 06:16 PM
Meh, good for him and his associates/employees.

jolynna
01-18-2012, 06:16 PM
It means Romney probably has never really been in for even for 15% of "shared sacrifice" (taxes).

Taxes are for serfs.

And do not get me wrong, I'd prefer keeping every penny that I earn. BUT, just like Bush senior, had to suck it up and go back on his promise of "no more taxes", if elected president, Romney, whose campaign is funded by ALL of the Too Big To Fail banks, is going to be begging the Feds to send out bailout money to Europe like crazy so his funders stay afloat. And when that happens, EVERY ONE OF US, is going to be expected to share MORE sacrifice (pay more taxes) & practice austerity (cut spending on social security and medicare and social programs generations paid into).

And our military will expand. Mitt says so. See his Mitt Central pages. And as Mitt says Obama is too timid in the Middle East. So our sons and daughters will continue to be sacrificed as our deficit continues to grow despite cuts in social programs and infrastructure and MORE taxes.

Mr. Romney has set himself up to live like a king, through methods that "might" be legal but not ethical or moral, while all of the rest of us, will be expected to "keep America militarily strong" as OUR day-to-day life quality declines.

Smus
01-18-2012, 09:50 PM
Might not be illegal...but every single time I hear someone has an account in the Cayman Islands, I think of 3 kinds of people. Arms Dealers, Drug Lords, and Politicians, all of whom usually have something to hide.

Hell, a Swiss bank account sounds better than one in the Cayman Islands.

Cowlesy
01-18-2012, 09:54 PM
Romney is wealthy enough that I am sure he is well within the letter of the law when it comes to using offshore accounts. Most of the time, you need these accounts if you're doing overseas investing. You can't just setup a C-Corp and start buying commercial real estate in mainland China. You're likely going to go through luxembourg to probably barbados and finally off to China to invest capital efficiently.

There are certainly people who hide money, but Romney is disclosing it and I am sure he pays taxes on any gains he brings back to the USA. It's economically not worth it for someone like him to evade taxes.

DisabledVet
01-18-2012, 09:57 PM
The tax system in this country is conducive to small and large business alike. It FAVORS those wanting to be rugged individuals and start their own business. If you want to be an EMPLOYEE then your going to get the short end of the sitck tax wise. Offshore accounts are a smart move. Your dont use offshore accounts to avoid taxes you LEGALLY OWE, rather they are an excellent way to avoid taxation you might owe if the money earned was repatriated, and they further provide for excellent personal and corporate legal protection from those looking to sue you. Unless you've been wealthy you have never experienced the problems of being such. Once you have money, you have a whole new set of problems, namely keeping it and growing it. In this litigious society, estate planning and good legal protection stratigies are paramount to ensuring your wealth stays safe.

iamse7en
01-19-2012, 10:56 AM
Apparently, Bain has more than 100 offshore accounts in the Caymans. Not illegal, but pretty darn slimy.

http://abcnews.go.com/Blotter/romney-parks-millions-offshore-tax-haven

You would too with these exorbitant tax rates. I don't blame Romney one bit for trying to protect his money from the tax-man. I do find hypocrisy in him, though, when he advocates big government which requires high tax rates.

Aratus
01-19-2012, 11:18 AM
mitt seyz his millions are legit