Romney's Swiss bank account

[Ravi]

What is up with that?

Come on, most Regular Americans have those.

They are one of the few banks that still give out toasters with checking accounts.

Not bad!

 

[JoeB131]

What is up with that?

Come on, most Regular Americans have those.

They are one of the few banks that still give out toasters with checking accounts.

Not bad!

That I'm old enough to remember when banks gave out kitchen appliances with new accounts is kind of the scary thing...

 

[Toro]

It only matters if he was evading taxes.

Otherwise, it doesn't matter.

 

[Toro]

Also from your link:



This is nothing but speculation.

Of course. But if it were a Dem, it would have been damning evidence. I offer you those on the left that have been smacked around because the tax code is inscrutable.

Half of congress owe back taxes. I don't make an issue of that.... I'm far more concerned about insider trading... but I do think our congress critters should pay their taxes on time.

Thing is... having as many accounts and holdings and shit as Romney does - and it is the same for any wealthy individual... the form filling, filings, etc are incredibly complex. If there is actual evidence of wrong doing, great... I'll hang him... and do it happily. But so far, all there is is speculation... even the article itself says it's a big 'if'.

The IRS tends to scrutinize these people far more closely.... and I'm of the opinion that, if there was something illegal, they'd have been all over it before now. It's actually quite hard to successfully hide vast sums of money these days.

FFS, I didn't know what an FBAR was until a few years ago.

The IRS tax system is byzantine.

 

[JoeB131]

It only matters if he was evading taxes.

Otherwise, it doesn't matter.

You really think this (along with the Cayman accounts and the 13% tax rate) is going to smell really kosher to average working folks?

"I didn't do anything illegal (probably)!" isn't exactly a campaign slogan I'd want to run on.

But we're in Romneyland.

(psssst. psssst. The Peasants get to vote in November. I know this sounds really unfair to you, but that's what it is.)

 

[editec]

It is my understanding that Romney put a lot of money (I've read over $200 million) in his retirement accounts.

By doing that his money can migrate to places like the Cayman's where it can invested in foreign concerns.

As such, the tax consequences on money made in those foreign investments is taxed (when that money is finally subject to taxes, right now it isn't taxable at all!) at a much lower rate than it would be if the retirement account was in the States.

This is perfectly legal way that the rich get to avoid paying taxes that the average American taxpayer must pay.

Now, I know that for a lot of you what's legal is also what's ethical.

But is it patriotic?

Or is such a concept completely alien to you?

 

[JoeB131]

It is my understanding that Romney put a lot of money (I've read over $200 million) in his retirement accounts.

By doing that his money can migrate to places like the Cayman's where it can invested in foreign concerns.

As such, the tax consequences on money made in those foreign investments is taxed (when that money is finally subject to taxes, right now it isn't taxable at all!) at a much lower rate than it would be if the retirement account was in the States.

This is perfectly legal way that the rich get to avoid paying taxes that the average American taxpayer must pay.

Now, I know that for a lot of you what's legal is also what's ethical.

But is it patriotic?

Or is such a concept completely alien to you?

It isn't to me, but Romney's supporters put profit before country.

 

[editec]

Joe, the tools on this board certainly seem to be that way.

They are basically internationalists pretending to be patriots.

That or they are just damned fools.

 

[JoeB131]

Joe, the tools on this board certainly seem to be that way.

They are basically internationalists pretending to be patriots.

That or they are just damned fools.

I'm going with fools.

You see, here's the ironic thing. As a conservative, I think that we need to discourage dependence on government as much as possible. As a practical matter, you have more people riding in the wagon than pulling the wagon, the wagon doesn't go very far.

But the Romney's of the world, who get praised up and down for their "brilliance" in business are making it easier for liberals to sell bigger government as a problem.

When Mitt Romney goes into an AmPad or a GS Steel and eliminated all the good paying jobs by busting their union, shipping their jobs overseas or downsizing them, they are making those folks dependent on government. "But, but, but he created jobs at Staples and Domino's Pizza". Yup. McJobs. Low wages, no benefits. Not something you can support a family on or can look them in the eye with pride.

So when people with that McJob can't make ends meet, and they apply for Food Stamps, they apply for Medicaid, they apply for HOusing assistance. You have vets hitting up the VA because they can't get good jobs when they get out.

So they've created a taste for government. And they probably don't see that they are part of the problem.

 

[California Girl]

Of course. But if it were a Dem, it would have been damning evidence. I offer you those on the left that have been smacked around because the tax code is inscrutable.

Half of congress owe back taxes. I don't make an issue of that.... I'm far more concerned about insider trading... but I do think our congress critters should pay their taxes on time.

Thing is... having as many accounts and holdings and shit as Romney does - and it is the same for any wealthy individual... the form filling, filings, etc are incredibly complex. If there is actual evidence of wrong doing, great... I'll hang him... and do it happily. But so far, all there is is speculation... even the article itself says it's a big 'if'.

The IRS tends to scrutinize these people far more closely.... and I'm of the opinion that, if there was something illegal, they'd have been all over it before now. It's actually quite hard to successfully hide vast sums of money these days.

FFS, I didn't know what an FBAR was until a few years ago.

The IRS tax system is byzantine.

You oughtta try dealing with them when you hold accounts in the US, UK, and 'elsewhere'.

 

[Sallow]

well he really doesnt want his finaces examined they the American public

You sound like the GOP front runner.....



Because it tends to make silly people like you and your fellow travelers whine like a bunch of sniveling babies.

Has Romney broke any laws?

Stop hating on him because he earned his money

How did he "earn" his money? He didn't work for it.

And people have Swiss bank accounts to hide income. Of late we've been sending rich people to washington. Well guess what..these are the results. They don't write laws that prohibit this sort of nonsense...and give themselves really mini-tax rates on money they accrue by doing essentially nothing...but extracting wealth from the economy.

This is why it is a fundamentally BAD IDEA to concentrate wealth into the hands of a few. Because with wealth comes power. And with that power they put policy in place to keep themselves wealthy and powerful..

 

[California Girl]

well he really doesnt want his finaces examined they the American public

You sound like the GOP front runner.....



Because it tends to make silly people like you and your fellow travelers whine like a bunch of sniveling babies.

Has Romney broke any laws?

Stop hating on him because he earned his money

How did he "earn" his money? He didn't work for it.

And people have Swiss bank accounts to hide income. Of late we've been sending rich people to washington. Well guess what..these are the results. They don't write laws that prohibit this sort of nonsense...and give themselves really mini-tax rates on money they accrue by doing essentially nothing...but extracting wealth from the economy.

This is why it is a fundamentally BAD IDEA to concentrate wealth into the hands of a few. Because with wealth comes power. And with that power they put policy in place to keep themselves wealthy and powerful..

Yes he did.

And, no they don't. That swiss account was in a blind trust. I suggest you research what that means.

Off shore accounts are just a way to make your money work more efficiently. Many people - particularly those with international investments - have off shore accounts. That money often comes from investments outside the US. Until it comes into the US, it is not taxable.

 

[JoeB131]

so if Romney is making his millions in "blind trusts", what's his supposed economic expertise again?

Sounds like other people are making money for him.

Is he going to phone in his presidency as well?

 

[Sallow]

You sound like the GOP front runner.....



Because it tends to make silly people like you and your fellow travelers whine like a bunch of sniveling babies.

Has Romney broke any laws?

Stop hating on him because he earned his money

How did he "earn" his money? He didn't work for it.

And people have Swiss bank accounts to hide income. Of late we've been sending rich people to washington. Well guess what..these are the results. They don't write laws that prohibit this sort of nonsense...and give themselves really mini-tax rates on money they accrue by doing essentially nothing...but extracting wealth from the economy.

This is why it is a fundamentally BAD IDEA to concentrate wealth into the hands of a few. Because with wealth comes power. And with that power they put policy in place to keep themselves wealthy and powerful..

Yes he did.

And, no they don't. That swiss account was in a blind trust. I suggest you research what that means.

Off shore accounts are just a way to make your money work more efficiently. Many people - particularly those with international investments - have off shore accounts. That money often comes from investments outside the US. Until it comes into the US, it is not taxable.

Which essentially buttresses the point I just made.

Off shore accounts hide income. Why? Because the person hiding the income doesn't want to pay their fair share to a system that made them wealthy in the first place.

It's called greed.

 

[Contumacious]

well he really doesnt want his finaces examined they the American public

You sound like the GOP front runner.....



Because it tends to make silly people like you and your fellow travelers whine like a bunch of sniveling babies.

Has Romney broke any laws?

Stop hating on him because he earned his money

How did he "earn" his money? He didn't work for it.
.

The Parasites never cease to amaze me.

Did you fuckers "earn" the federal largesse ? That hasn't stop you folks from spending the food stamps, etc.

What's is next on the socialists agenda? Banning the Stock Market....criminalizing investments?


.

 

[Ravi]

You sound like the GOP front runner.....



Because it tends to make silly people like you and your fellow travelers whine like a bunch of sniveling babies.

Has Romney broke any laws?

Stop hating on him because he earned his money

How did he "earn" his money? He didn't work for it.

And people have Swiss bank accounts to hide income. Of late we've been sending rich people to washington. Well guess what..these are the results. They don't write laws that prohibit this sort of nonsense...and give themselves really mini-tax rates on money they accrue by doing essentially nothing...but extracting wealth from the economy.

This is why it is a fundamentally BAD IDEA to concentrate wealth into the hands of a few. Because with wealth comes power. And with that power they put policy in place to keep themselves wealthy and powerful..

Yes he did.

And, no they don't. That swiss account was in a blind trust. I suggest you research what that means.

Off shore accounts are just a way to make your money work more efficiently. Many people - particularly those with international investments - have off shore accounts. That money often comes from investments outside the US. Until it comes into the US, it is not taxable.

The Swiss account wasn't in a blind trust.

 

[Toro]

so if Romney is making his millions in "blind trusts", what's his supposed economic expertise again?

Sounds like other people are making money for him.

Is he going to phone in his presidency as well?

Wealthy politicians put their assets in a blind trust to avoid conflicts. Cheney did the same thing.

 

[Truthmatters]

so was it blind or not folks?

provide some facts.

 

[PLYMCO_PILGRIM]

so was it blind or not folks?

provide some facts.

WASHINGTON (AP) — Advisers to Republican presidential candidate Mitt Romney are acknowledging that he once had a Swiss bank account but that it was closed in 2010 as prepared to enter the race for the White House.

The Swiss account is listed on Romney's newly released 2010 federal income tax return. It had been opened by a Boston lawyer who oversees the Romney family investments and a blind trust containing millions of dollars in assets.

http://www.chron.com/news/article/Romney-had-Swiss-bank-account-but-now-closed-2682493.php

There you go

 

[PLYMCO_PILGRIM]

How did he "earn" his money? He didn't work for it.

And people have Swiss bank accounts to hide income. Of late we've been sending rich people to washington. Well guess what..these are the results. They don't write laws that prohibit this sort of nonsense...and give themselves really mini-tax rates on money they accrue by doing essentially nothing...but extracting wealth from the economy.

This is why it is a fundamentally BAD IDEA to concentrate wealth into the hands of a few. Because with wealth comes power. And with that power they put policy in place to keep themselves wealthy and powerful..

Yes he did.

And, no they don't. That swiss account was in a blind trust. I suggest you research what that means.

Off shore accounts are just a way to make your money work more efficiently. Many people - particularly those with international investments - have off shore accounts. That money often comes from investments outside the US. Until it comes into the US, it is not taxable.

The Swiss account wasn't in a blind trust.

actually it was....see above