Presidential candidate Mitt Romney is by far the richest candidate in the race, regardless of party. He is worth approximately $250 million, qualifying him as one of the "super-rich".
He likes to brag about his business acumen, and how that sharp business sense helped him to take his company (Bain Capital) to the top. But you won't hear him talk much about exactly how he accomplished this feat. That's because most Americans probably wouldn't like it.
Most Americans pay their taxes, and don't like it when others use tax shelters and other loopholes to avoid paying the taxes they owe. It doesn't look like Romney broke any laws, but he did set up shell companies in Bermuda and the Cayman Islands. These companies were used to allow investors to funnel money through them and into Bain Capital.
This allowed the investors to completely avoid paying any United States income taxes. By using these tax-avoidance schemes, Romney was able to draw billions of dollars of investments into Bain Capital, and not a penny of the money his investors earned were subject to income taxes.
It was legal, but not very ethical -- not when you consider that these tax shelters force a larger part of the tax burden on the middle and working classes, who actually pay their taxes.
Romney likes to brag about how religious he is, but this doesn't sound very "christian" to me. Didn't Jesus say to render unto Ceasar that which is Ceasar's? In other words, pay the government that which it is due. I don't remember any addendum that said "unless you can create a loophole and avoid that rendering".
Once we know about the Island shell companies, who have no employees -- only a mail box, it is easy to see how Romney amassed his vast fortune. He did it on the backs of American workers.
You are pathetic. He didn't do anything YOU WOULDN'T DO ..... That is if you had graduated high school! You are a hypocrite. He didn't increase the weight on the backs of American workers. By utilizing a loop hole in the tax system he didn't force American workers to pay more. How ridiculous!
ReplyDeleteRomney is as clean as they get. You are a numb nut!
Calling me names doesn't change the facts. When the rich don't pay their share, the burden falls on everyone else.
ReplyDeleteRomney and others like him and their companies pay a truck load of taxes in this country.
ReplyDeleteThe laws in this country allow those that are smart enough to manage their tax liability. So why aren't you? You sound bitter and small.
What we need is to have our government spend money more responsibly and less of it. If we keep writing checks for the government we will all be in trouble. Do you think that if each of us paid 50% in taxes that the government wouldn't figure out how to spend it and more.
It is simply prudent to use our brains to better ourselves and our families. These strategies are employed by not only Romney, but Gates, Rockefeller, Trump, Buffet and countless others.
Maybe you just need a better accountant....