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Saturday, March 03, 2012

Romney Parks Millions in Cayman Islands

ABC News revealed on January 18, 2012, that plutocrat multi-millionaire Mitt Romney has stashed away millions in the notorious offshore tax haven of the Cayman Islands.
So now we have hard evidence that Mitt Romney is a tax cheat.
An article entitled, "Romney Parks Millions in Cayman Islands," states:
"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."
"[Romney's] 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."
The article goes on to state, "Romney has used a variety of techniques to help minimize the taxes on his estimated $250 million fortune. In addition to paying the lower tax rate on his investment income, Romney has as much as $8 million invested in at least 12 funds listed on a Cayman Islands registry. Another investment, which Romney reports as being worth between $5 million and $25 million, shows up on securities records as having been domiciled in the Caymans."
Read the full article here: http://abcn.ws/wXxGep
And I guess everybody noticed when Romney was vigorously booed by the audience at last night's GOP "debate" in South Carolina when he stated that he would release "part but not all" of his income tax returns in April.
Jagor

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