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Michchamp
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- Aug 4, 2011
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he's got millions parked in the Caymans...http://abcnews.go.com/Blotter/romney-parks-millions-offshore-tax-haven/story?id=15378566#.Txgao_nQp8G
two best quotes from the article:<blockquote>"I can tell you we follow the tax laws," [Romney] said recently while on the campaign trail in New Hampshire. "And if there's an opportunity to save taxes, we like anybody else in this country will follow that opportunity." </blockquote> OK, but this needs to be said then: regardless of whether what he's doing is legal or not, and that's probably up to interpretation, few Americans can afford the attorneys & accountants necessary to take advantage of offshore tax havens. He's using his already substantial wealth to further game the system.<blockquote>Blum, the D.C. tax lawyer, said working through an offshore investment vehicle allows the investor to "avoid a whole series of small traps in the tax code that ordinary people would face if they paid tax on an onshore basis."</blockquote>exactly.
His father didn't have a problem with this, because while he was wealthy, he did it the old-fashioned way. he wasn't a wall street charlatan...
two best quotes from the article:<blockquote>"I can tell you we follow the tax laws," [Romney] said recently while on the campaign trail in New Hampshire. "And if there's an opportunity to save taxes, we like anybody else in this country will follow that opportunity." </blockquote> OK, but this needs to be said then: regardless of whether what he's doing is legal or not, and that's probably up to interpretation, few Americans can afford the attorneys & accountants necessary to take advantage of offshore tax havens. He's using his already substantial wealth to further game the system.<blockquote>Blum, the D.C. tax lawyer, said working through an offshore investment vehicle allows the investor to "avoid a whole series of small traps in the tax code that ordinary people would face if they paid tax on an onshore basis."</blockquote>exactly.
His father didn't have a problem with this, because while he was wealthy, he did it the old-fashioned way. he wasn't a wall street charlatan...