Romney has money parked in the Cayman Islands???

[Flopper]

Romney Parks Millions in Cayman Islands - ABC News

This alarms me a bit. I'm sure further investigation will follow but this causes me a few red flags.

We gotta make damn sure our nominee is FULLY vetted. We don't need any October surprises to cost us the election.

There are plenty of Reasons to put your money in Banks other than the US, Other than Illegal ones. Better Interest rates, A Hedge Against some kind of Bank Problem in the US, Etc.

when you have a shit ton of Cash, you don't just stick it in one bank, or even just one Country.

There's nothing wrong with using offshore accounts, unless you happen to be a presidential candidate. Many offshore accounts offer tax free interest and reduced taxes on investments in their country. However, most Americans see offshore accounts such as the Cayman, as a place to hide financial transaction from the authorities. The media has done a good job of convincing Americans that these accounts are for people that have things to hide. This is just more baggage Romney will be carrying into the general election.

 

[The T]

Is there any reason to put money in the Caymans besides to shelter it from taxes?

And WHAT business is it of yours? Does it deprive YOU one iota?

He's running for president, if he is a tax cheat then it has a very direct bearing on his probable policy decisions. It's a hell of a lot more pertinent than Obama's kindergarten records.

I'm NOT interested in his Kindergaten record asswipe.

Get with the program and stay on topic.

 

[Charles_Main]

Is there any reason to put money in the Caymans besides to shelter it from taxes?

Absolutely, Possibly to get better Interest Rates, or As a hedge against a possible collapse of the US banking System for starters.

Oh and by the way, Just because you have money in the Cayman Islands does not mean it's not subject to US taxes when you earn Interest on it. It is completely Possible, In fact Probably considering he is a public Figure, That Romney does pay US taxes on any interest he earns on money in Foreign Banks. The Law says you have to. The Problem is Cayman Laws prohibit Our Ability to track who has money in their Banks. So I would venture a Guess that if it is public Knowledge Romney has money in a Cayman Bank, than it is probable that it is public Knowledge because he isn't hiding it, and therefore probably did pay taxes on any Interest he earned from it.

But why would Liberals USE logic when they can play to peoples more baser Instincts to Hate those with more than them, and assume they cheated to get that way.

 

[Avatar4321]

I didn't know that. If it's true, that's kinda cool.

Yeah I learned it a few weeks ago. It is pretty cool.

But somehow Romney has no compassion

You said the comment above after saying this:

Why would it alarm you? As long as he isn't funding mass murder or treason, I don't really care what he does with his money. It's his money. He is responsible to God for what He does with it. Not me.

To be honest, you guys come to the conclusion that donating his money to charity is cool after stating over and over that you dont care what Romney does with his money. You are failing to realize that, just like you just did, people will come to conclusions based on the facts. You came to the conclusion that donating his money to charity is "cool".

Some will come to the conclusion that stashing money in the Camans is "not cool". Pretending that you dont care except when you can site "cool" donations. Is...how do you say...fake as shit.

Talk about a stretch. Apples and oranges.

I think charity is cool. Doesn't mean I am going to demand anyone give to charity. Or "force" them to give to others. It really doesnt matter to me how much he has or what he does with HIS money. That doesnt mean charity isn't totally sweet.

 

[Avatar4321]

And WHAT business is it of yours? Does it deprive YOU one iota?

He's running for president, if he is a tax cheat then it has a very direct bearing on his probable policy decisions. It's a hell of a lot more pertinent than Obama's kindergarten records.

I'm NOT interested in his Kindergaten record asswipe.

Get with the program and stay on topic.

Colleges records would be nice. Especially since so many on the left are acting like he is the smartest man whose ever lived.

 

[The T]

Yeah I learned it a few weeks ago. It is pretty cool.

But somehow Romney has no compassion

You said the comment above after saying this:

Why would it alarm you? As long as he isn't funding mass murder or treason, I don't really care what he does with his money. It's his money. He is responsible to God for what He does with it. Not me.

To be honest, you guys come to the conclusion that donating his money to charity is cool after stating over and over that you dont care what Romney does with his money. You are failing to realize that, just like you just did, people will come to conclusions based on the facts. You came to the conclusion that donating his money to charity is "cool".

Some will come to the conclusion that stashing money in the Camans is "not cool". Pretending that you dont care except when you can site "cool" donations. Is...how do you say...fake as shit.

Talk about a stretch. Apples and oranges.

I think charity is cool. Doesn't mean I am going to demand anyone give to charity. Or "force" them to give to others. It really doesnt matter to me how much he has or what he does with HIS money. That doesnt mean charity isn't totally sweet.

Gubmint has taken the role of charity by force of a GUN through the IRS.

 

[Remodeling Maidiac]

I think I may for the first time bow out of my own thread. I did not mean this as an indictment of Romney but merely an attempt to expose what could be a serious perception problem in the general election. Many here have corrected me that sheltering money offshore is not illegal. Fine. You're okay with it. I'm not, and I suspect most of middle America is not either. We can all sit here and play our silly partisan games day in and day out. It's a fun way to pass the time on occasion. But their comes a time when the ultimate goal should out weigh our personal wishes and this is one of those occasions. Do I wish I could hide my money? Hell yea. Do I think in this hyper class warfare that Obama has waged that this will fly with everyday people? Nope.

I want to win the whitehouse. I don't want to lose because our nominee is perceived as a "lawful cheat"

Add on top of this that Romney didn't want to release his tax returns and you got an issue that won't go away. We can scream all day that its legal but it he can't fully explain it, it won't fucking matter. We need to win. I'll take Newts damn infidelity issues over this type of issue anyday. We need to win. In order to do that we have to look beyond just what we think.

Or have you all forgotten what damage was done to Kerry based on finances or McCain based on his perceived lack of financial knowledge?

Like it or not this issue will have wings if for no other reason than the media. IT MUST BE ADDRESSED.

 

[Charles_Main]

Yeah I learned it a few weeks ago. It is pretty cool.

But somehow Romney has no compassion

You said the comment above after saying this:

Why would it alarm you? As long as he isn't funding mass murder or treason, I don't really care what he does with his money. It's his money. He is responsible to God for what He does with it. Not me.

To be honest, you guys come to the conclusion that donating his money to charity is cool after stating over and over that you dont care what Romney does with his money. You are failing to realize that, just like you just did, people will come to conclusions based on the facts. You came to the conclusion that donating his money to charity is "cool".

Some will come to the conclusion that stashing money in the Camans is "not cool". Pretending that you dont care except when you can site "cool" donations. Is...how do you say...fake as shit.

Talk about a stretch. Apples and oranges.

I think charity is cool. Doesn't mean I am going to demand anyone give to charity. Or "force" them to give to others. It really doesnt matter to me how much he has or what he does with HIS money. That doesnt mean charity isn't totally sweet.

in fact it by definition is not Charity if it's forced, that's called welfare.

 

[Zander]

Many people have 'off shore' bank accounts and investments. There is nothing illegal or unsavory about them, except in the minds of mystery novelists and conspiracy theorists....

 

[The T]

He's running for president, if he is a tax cheat then it has a very direct bearing on his probable policy decisions. It's a hell of a lot more pertinent than Obama's kindergarten records.

I'm NOT interested in his Kindergaten record asswipe.

Get with the program and stay on topic.

Colleges records would be nice. Especially since so many on the left are acting like he is the smartest man whose ever lived.

Yes they would. But what is he hiding? WHY the secracy?

 

[The T]

Many people have 'off shore' bank accounts and investments. There is nothing illegal or unsavory about them, except in the minds of mystery novelists and conspiracy theorists....

and Wealth envy folks obcessed with Obama's Class Warfare tactics.

 

[Avatar4321]

Yabut, rw's will make all kinds of excuses why its okay for the Repubs to maximize their profits but its not okay for libs to do it.

It's perfectly okay for anyone to have assets in the Cayman Islands, regardless of the R or D after their names.

Okay then. If Romney is the nominee, I hope the GOP electorate will have this understanding and be able to see how a few jobs shipped overseas and now a few investments too, is actually a good thing.

If Romney is elected President, we will have a President who made a fortune making businesses work and who will understand what it takes to get the economy moving.

Hence, our economy actually has a shot of recovering.

 

[The T]

You said the comment above after saying this:



To be honest, you guys come to the conclusion that donating his money to charity is cool after stating over and over that you dont care what Romney does with his money. You are failing to realize that, just like you just did, people will come to conclusions based on the facts. You came to the conclusion that donating his money to charity is "cool".

Some will come to the conclusion that stashing money in the Camans is "not cool". Pretending that you dont care except when you can site "cool" donations. Is...how do you say...fake as shit.

Talk about a stretch. Apples and oranges.

I think charity is cool. Doesn't mean I am going to demand anyone give to charity. Or "force" them to give to others. It really doesnt matter to me how much he has or what he does with HIS money. That doesnt mean charity isn't totally sweet.

in fact it by definition is not Charity if it's forced, that's called welfare.

But yet here we are with half of the country paying taxes and foodstamp participation UP 48+ percent...By design/Deceit, by force.

 

[Charles_Main]

I think I may for the first time bow out of my own thread. I did not mean this as an indictment of Romney but merely an attempt to expose what could be a serious perception problem in the general election. Many here have corrected me that sheltering money offshore is not illegal. Fine. You're okay with it. I'm not, and I suspect most of middle America is not either. We can all sit here and play our silly partisan games day in and day out. It's a fun way to pass the time on occasion. But their comes a time when the ultimate goal should out weigh our personal wishes and this is one of those occasions. Do I wish I could hide my money? Hell yea. Do I think in this hyper class warfare that Obama has waged that this will fly with everyday people? Nope.

I want to win the whitehouse. I don't want to lose because our nominee is perceived as a "lawful cheat"

Add on top of this that Romney didn't want to release his tax returns and you got an issue that won't go away. We can scream all day that its legal but it he can't fully explain it, it won't fucking matter. We need to win. I'll take Newts damn infidelity issues over this type of issue anyday. We need to win. In order to do that we have to look beyond just what we think.

Or have you all forgotten what damage was done to Kerry based on finances or McCain based on his perceived lack of financial knowledge?

Like it or not this issue will have wings if for no other reason than the media. IT MUST BE ADDRESSED.

What you fail to grasp is the real issue here is the fight over whether making a lot of money, and working at a Venture Capital Company is evil or not.

If The American Public in general thinks that is evil, then Capitalism clearly is dead in this country, and I could give a fuck less who wins the Election because it does not matter.

I mean for gods sake, Bain and Companies like it, are the very ones who take the risks, and provide the Capital to Start ups, that would never get a bank loan, and never get off the ground with out venture Capitalist to take a risk on them.

It's the very life blood of our Economy, and Capitalism and it seems Americans think it is evil to it's core. How Can Capitalism continue when the General Public is so misinformed that they think Venture Capitalists are nothing but greedy fucks, and that you can regularly make money by buying companies and tearing them apart. Anyone who has ever been in Business knows that is not how you make money. You make money in Bain's Case by Buying small, sometimes struggling Companies, and making them Leaner, and Profitable and eventually Grow.

Americans simply do not get it anymore, At least to many of them don't, Socialism is inevitable. I think it was Lenin that said Democracy will eventually lead to Socialism, Because people will always vote yes to take money from others to give to themselves or those the deem Needy. People will always vote there way right out of Capitalism, and by Default eventually into a Authoritarian Socialism State.

Guess the asshole was right.

 

[ScienceRocks]

He just understands how to make money that's all. If I had 250 million dollars, I'd do the same thing.

 

[ClosedCaption]

Yeah I learned it a few weeks ago. It is pretty cool.

But somehow Romney has no compassion

You said the comment above after saying this:

Why would it alarm you? As long as he isn't funding mass murder or treason, I don't really care what he does with his money. It's his money. He is responsible to God for what He does with it. Not me.

To be honest, you guys come to the conclusion that donating his money to charity is cool after stating over and over that you dont care what Romney does with his money. You are failing to realize that, just like you just did, people will come to conclusions based on the facts. You came to the conclusion that donating his money to charity is "cool".

Some will come to the conclusion that stashing money in the Camans is "not cool". Pretending that you dont care except when you can site "cool" donations. Is...how do you say...fake as shit.

Talk about a stretch. Apples and oranges.

I think charity is cool. Doesn't mean I am going to demand anyone give to charity. Or "force" them to give to others. It really doesnt matter to me how much he has or what he does with HIS money. That doesnt mean charity isn't totally sweet.

Strawman.

I said you think giving to charities is cool, I say some other might think that stashing money in the Camans is not cool. Then you respond with a "taking money from others" response.

You understand that while people may or may not "care" what Mitt does with his money, they, like you, will come to a judgement of cool and not cool with what Mitt does with his money. You just want everyone to think he's cool and if you dont, you hate money or envy him.

 

[Remodeling Maidiac]

I think I may for the first time bow out of my own thread. I did not mean this as an indictment of Romney but merely an attempt to expose what could be a serious perception problem in the general election. Many here have corrected me that sheltering money offshore is not illegal. Fine. You're okay with it. I'm not, and I suspect most of middle America is not either. We can all sit here and play our silly partisan games day in and day out. It's a fun way to pass the time on occasion. But their comes a time when the ultimate goal should out weigh our personal wishes and this is one of those occasions. Do I wish I could hide my money? Hell yea. Do I think in this hyper class warfare that Obama has waged that this will fly with everyday people? Nope.

I want to win the whitehouse. I don't want to lose because our nominee is perceived as a "lawful cheat"

Add on top of this that Romney didn't want to release his tax returns and you got an issue that won't go away. We can scream all day that its legal but it he can't fully explain it, it won't fucking matter. We need to win. I'll take Newts damn infidelity issues over this type of issue anyday. We need to win. In order to do that we have to look beyond just what we think.

Or have you all forgotten what damage was done to Kerry based on finances or McCain based on his perceived lack of financial knowledge?

Like it or not this issue will have wings if for no other reason than the media. IT MUST BE ADDRESSED.

What you fail to grasp is the real issue here is the fight over whether making a lot of money, and working at a Venture Capital Company is evil or not.

If The American Public in general thinks that is evil, then Capitalism clearly is dead in this country, and I could give a fuck less who wins the Election because it does not matter.

I mean for gods sake, Bain and Companies like it, are the very ones who take the risks, and provide the Capital to Start ups, that would never get a bank loan, and never get off the ground with out venture Capitalist to take a risk on them.

It's the very life blood of our Economy, and Capitalism and it seems Americans think it is evil to it's core. How Can Capitalism continue when the General Public is so misinformed that they think Venture Capitalists are nothing but greedy fucks, and that you can regularly make money by buying companies and tearing them apart. Anyone who has ever been in Business knows that is not how you make money. You make money in Bain's Case by Buying small, sometimes struggling Companies, and making them Leaner, and Profitable and eventually Grow.

Americans simply do not get it anymore, At least to many of them don't, Socialism is inevitable. I think it was Lenin that said Democracy will eventually lead to Socialism, Because people will always vote yes to take money from others to give to themselves or those the deem Needy. People will always vote there way right out of Capitalism, and by Default eventually into a Authoritarian Socialism State.

Guess the asshole was right.

I don't think the Bain issue has legs. I do however believe this may.

Imagine for a second a commercial about Romney stating he may not release his taxes (using his own words) then in the same 30 second spot the reveal that he has offshore sheltered accounts.

You don't see a problem for middle of the road Americans with this? Even if its just perception?

 

[The T]

You said the comment above after saying this:



To be honest, you guys come to the conclusion that donating his money to charity is cool after stating over and over that you dont care what Romney does with his money. You are failing to realize that, just like you just did, people will come to conclusions based on the facts. You came to the conclusion that donating his money to charity is "cool".

Some will come to the conclusion that stashing money in the Camans is "not cool". Pretending that you dont care except when you can site "cool" donations. Is...how do you say...fake as shit.

Talk about a stretch. Apples and oranges.

I think charity is cool. Doesn't mean I am going to demand anyone give to charity. Or "force" them to give to others. It really doesnt matter to me how much he has or what he does with HIS money. That doesnt mean charity isn't totally sweet.

Strawman.

I said you think giving to charities is cool, I say some other might think that stashing money in the Camans is not cool. Then you respond with a "taking money from others" response.

You understand that while people may or may not "care" what Mitt does with his money, they, like you, will come to a judgement of cool and not cool with what Mitt does with his money. You just want everyone to think he's cool and if you dont, you hate money or envy him.

*Psychobabble*

You have a deliterious effect on the language.

[ame=http://www.youtube.com/watch?v=bDXa4FkAw-4]Alan Parsons Project - Psychobabble - YouTube[/ame]

Stashing money where one sees fit if lawful is NONE of your business.

Keep on with the wealth envy crap.

 

[Chris]

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.

On Tuesday, Romney disclosed that he has been paying a far lower percentage in taxes than most Americans, around 15 percent of his annual earnings. It has been Romney's Republican rivals who have driven the tax issue onto center stage. For weeks, Romney has cited a desire for privacy as his reason for not sharing his tax returns -- a gesture of transparency that is now expected from presidential contenders.

Romney Parks Millions in Cayman Islands - ABC News

 

[The T]

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.

On Tuesday, Romney disclosed that he has been paying a far lower percentage in taxes than most Americans, around 15 percent of his annual earnings. It has been Romney's Republican rivals who have driven the tax issue onto center stage. For weeks, Romney has cited a desire for privacy as his reason for not sharing his tax returns -- a gesture of transparency that is now expected from presidential contenders.

Romney Parks Millions in Cayman Islands - ABC News

Indeed. Bring on FAIR or FLAT Tax do away with the 16th Amendment.