The ole used car salesman is running for President. He, in my opinion, is the biggest shady character since Dick Nixon. If you have nothing to hide lets see the tax returns, tell us what you have in offshore accounts and then let the American Voters decide if thats the man they want to represent their interests and feel their pain. A lot of that "hard earned" moola was earned outsourcing jobs to non Americans thru the fabulous BAIN Capital. Give me a break. :puke:

 

70% of the failing companies that Mitt and Bain Capital proped up became profitable. Can't even compare to the abject failure that is Obama.

Lets Dig Up Ronnie we can have VooDoo Economics Again!:dancingpa

Keepin' it classy.

I've said that I don't care where someone puts money as long as they do it legally.

 

I saw an interview with Gov Romney. He said that this to-do was nothing as he didn't save $1 in taxes by having his money in the Cayman Islands. Again, I don't care if he does, however, I am a bit disappointed that he would take me for a fool.

He's right, he gains no tax advantages as he is still subject to US taxes on income from those investments.

As to the subject of the thread, I wonder if Mtn Ref will now admit that God apparently favors our Muslim President as he has sent the forces of nature against his opponent.

He's right, he gains no tax advantages as he is still subject to US taxes on income from those investments.

 

I read that if he put business assets into an IRA invested in a Cayman Island corporation he avoids the 35% "unrelated business income" tax. Plus there are no limitations on deductions for investment expenses

I read that if he put business assets into an IRA invested in a Cayman Island corporation he avoids the 35% "unrelated business income" tax. Plus there are no limitations on deductions for investment expenses

 

You're dealing in ifs. Did he do that? Do you know how small those savings would be due to various limits? It would cost him more to set it up than it's worth. Plus, there are any number of means to defer taxes but not avoid them. They are available to both domestic and offshore holdings.

You're dealing in ifs. Did he do that? Do you know how small those savings would be due to various limits? It would cost him more to set it up than it's worth. Plus, there are any number of means to defer taxes but not avoid them. They are available to both domestic and offshore holdings.

What is the advantage to putting the money in the Cayman accounts?

What is the advantage to putting the money in the Cayman accounts?

 

That's the obvious question and what makes me believe there is some financial gain vs having the $$ held with a US financial institution.

That's the obvious question and what makes me believe there is some financial gain vs having the $$ held with a US financial institution.

I always assumed the same but I'm far from an expert.

What is the advantage to putting the money in the Cayman accounts?

 

As I understand it they attracted more foreign investment by going there. Many other countries, unlike the US, do not tax income earned outside their boundaries.

That's the obvious question and what makes me believe there is some financial gain vs having the $$ held with a US financial institution.

 

I would certainly hope so but it doesn't have to be taxes. See my note above regarding generating additional investments. I'm sure there are other reasons also. Mitt is too smart to set something up offshore just for the heck of it.

I have a question: Does anyone else remember or can name a presidential candidate that campaign during the opposing parties convention? I always thought that it was a gentlemans agreement that they would not campaign the 3 or 4 days of the conventions.

Bottomline: I don't care if he IS hiding HIS money anywhere!!! Hell, to you blame him??? He knows how to make money while the Community Organizer that occupies 1600 Pennsylvania Ave only can spend and give OUR money away.