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Romney's Tax Returns Show Cayman Island Accounts - So that's where rich invest
Posted by: RippedOffUs ()
Date: January 24, 2012 09:48AM

Lower the taxes on the rich so they can then put that money in offshore accounts and overseas. Nice!


Mitt Romney is known to use the offshore tax haven of the Cayman Islands to receive lower tax rates, pay less tax and use offshore investments as tax shelters. The process is commonly used with the elitist, bank CEO’s, corporate CEO’s and the very, very wealthy.

In essence, it allows the rich to pay less income and corporate taxes than the average American family.



Read more: http://www.politicolnews.com/buffet-on-romneys-tax-haven/#ixzz1kO43M5xR

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Re: Romney's Tax Returns Show Cayman Island Accounts - So that's where rich invest
Posted by: Les ()
Date: January 24, 2012 11:02AM

1. carried interest taxed at 15 percent.

2. pays ordinary income tax rates on management fees.

3. tax deferral for "foreign" firms even though they often park their cash in US banks and money market funds.

4. financial firms get ultra-low interest rates,

5. if they're savvy to take advantage of currency rates, they can borrow for effectively negative rates by borrowing in one of the carry trade currencies.

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Re: Romney's Tax Returns Show Cayman Island Accounts - So that's where rich invest
Posted by: mcsmack ()
Date: January 24, 2012 01:21PM

The premise of this thread exposes the mentality of the average idiot who understands nothing of economics.

People are more concerned about one mans income and tax rate then they are about the 14 million Americans who have no income and the 50% of wage earners who pay no taxes.

Our concerns in this country are ass backwards from where they should be. 17 trillion in debt and the answer is to raise capital gains rates on whoever.

Real smart people! Confiscate investment capital we need to create jobs. That way maybe Solyndra will hire you. You know because the government has such a great track record on creating jobs over the private sector.



Edited 1 time(s). Last edit at 01/24/2012 01:21PM by mcsmack.

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Re: Romney's Tax Returns Show Cayman Island Accounts - So that's where rich invest
Posted by: Les ()
Date: January 24, 2012 01:31PM

Carried interest shouldn't be taxed as long-term capital gains. They're fee income and should be taxed as ordinary income. The gains are also typically short-term in nature.

Mitt Romney's $13 million carried interest bonanza

http://www.cnbc.com/id/46115127

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Re: Romney's Tax Returns Show Cayman Island Accounts - So that's where rich invest
Posted by: mcsmack ()
Date: January 24, 2012 01:42PM

Les Wrote:
-------------------------------------------------------
> Carried interest shouldn't be taxed as long-term
> capital gains. They're fee income and should be
> taxed as ordinary income. The gains are also
> typically short-term in nature.
>
> Mitt Romney's $13 million carried interest
> bonanza
>
> http://www.cnbc.com/id/46115127


Your right. Give it to the government then and all problems will be solved.

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Re: Romney's Tax Returns Show Cayman Island Accounts - So that's where rich invest
Posted by: Les ()
Date: January 24, 2012 02:42PM

They're getting free money from the government. Interest-free loans. Prop asset markets using taxpayer stimulus. Bailouts of unregulated activity.

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Re: Romney's Tax Returns Show Cayman Island Accounts - So that's where rich invest
Posted by: RomenyCare ()
Date: January 24, 2012 03:22PM

Cayman Island, off-shore and Swiss banks accounts. Way to go Romney!

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Re: Romney's Tax Returns Show Cayman Island Accounts - So that's where rich invest
Posted by: Romney hater ()
Date: January 25, 2012 10:29AM

Romney is a little Mexican Ken doll that will say anything to get elected.

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Re: Romney's Tax Returns Show Cayman Island Accounts - So that's where rich invest
Posted by: Pretender in Chief ()
Date: January 25, 2012 10:32AM

Romney hater Wrote:
-------------------------------------------------------
> Romney is a little Mexican Ken doll that will say
> anything to get elected.


And apparently you will spew any lie to disparage him and help the current dope get re-elected. Mexican? Really?

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