Romney admits assisting foreigners to avoid paying US taxes on US investments

**pickel** · July 18th, 2012, 10:15 PM

Romney admits assisting foreigners to avoid paying US taxes on US investments - National Political Buzz | Examiner.com

Release the Returns - The Editors - National Review Online

Mitt Romney has now admitted, in an interview with National Review Online, that a Cayman Islands company, set up by Bain Capital, was created "to allow foreign investors to invest in U.S. enterprises and not be subject to taxes outside of their own jurisdiction."

"[O]utside of their own jurisdiction" means the Bain Caymans company enabled foreign investors to make money on US investments but escape paying any US income taxes.

I didn't know that

Romney's admission about the nature of the Bain "shell company", known as Sankaty High Yield Asset Investors Ltd, confirms news about the Caymans company, which had first been reported by the Los Angeles Times, in December of 2007, when Romney was campaigning for the Republican nomination in the 2008 presidential campaign.

How many transplants could those lost taxes pay for ??

Low Life MF

**RADAR1797** · July 19th, 2012, 06:13 AM

Pickel,

So you think foreigners should pay for your transplant?

**MTAtech** · July 19th, 2012, 09:35 AM

Originally Posted by RADAR1797

Pickel,

So you think foreigners should pay for your transplant?

Why not? My investments in Canadian investments are taxed by Canada and then I get a foreign investment tax credit here.

**Chuckiechan** · July 19th, 2012, 09:58 AM

Then do you believe you should pay for transplants in other countries?

**brandon184** · July 19th, 2012, 11:34 AM

If you want to do business in another country, you play by their rules.

**Epidemic** · July 19th, 2012, 03:07 PM

Originally Posted by brandon184

If you want to do business in another country, you play by their rules.

Aren't these the rules? Was a law broken or were these investments legal? If an accountant tells me that I can write off my house or that if I invest in government Bonds I can reduce my tax burden, does that make the accountant a criminal?

Or is investing in a cayman island shell account illegal?

**MTAtech** · July 19th, 2012, 05:32 PM

Originally Posted by Epidemic

Aren't these the rules? Was a law broken or were these investments legal? If an accountant tells me that I can write off my house or that if I invest in government Bonds I can reduce my tax burden, does that make the accountant a criminal?

Or is investing in a cayman island shell account illegal?

Whether it was legal or not is not known since M.R. won't release the documents. It makes him look very guilty by taking that action.

In the end, it does, in any case, appear very sleazy. Is that Romney's new slogan? "It may be sleazy but it was legal."

**pickel** · July 19th, 2012, 05:59 PM

Originally Posted by RADAR1797

Pickel,

So you think foreigners should pay for your transplant?

Sorry I couldn't get back sooner.

However.
Yes and any bill our nation pays with taxes that are due from doing business in our country.
If Romney showed these foreigners how to beat the system...ILLEGALY, and taxes have been avoided through that could have been used for healthcare or any other entity ( Defense spending, Dominoes for Obombma's kid, etc. ), then ,if, by showing the tax returns this illegal activity comes to light, the IRS, Justice Dept. or whomever should pounce on them and bring them to justice and make them pay like any other poor bastard the IRS haunts every day.
If it's all above board, let it slide.
But , first, the paperwork ( Tax Returns and any other pertinent papers) MUST be available to the proper authority as well as the people of the United States.