Romney's Cayman holdings sheltered from U.S. taxes

iVillage Member
Registered: 04-07-2002
Romney's Cayman holdings sheltered from U.S. taxes
4
Wed, 01-25-2012 - 1:29pm
Romney's Cayman holdings sheltered from U.S. taxes

Republican presidential candidate Mitt Romney's newly released tax return shows sprawling international financial interests, with one of his biggest foreign investments sheltered from U.S. taxation, partly because it is based in the Cayman Islands.

By David S. Hilzenrath

The Washington Post

 nwtreehugger  

iVillage Member
Registered: 05-03-2011
While I don't care how rich Romney is and am not "envious" of his riches, I do question sheltering money offshore. Seems pretty un-American for someone who wants to be president.
iVillage Member
Registered: 04-07-2002
Exactly!

 nwtreehugger  

iVillage Member
Registered: 02-05-2011
How much claim can the U.S. make against funds earned in another country and kept there?
iVillage Member
Registered: 03-03-2009
Were the funds earned in another country? Or are we talking about the hypothetical in order to deflect from the actual?

And how are you defining "earned"? If a corporation is based in a tax haven nation precisely because rates are much lower than those of the U.S, but the corporation doesn't actually do much business in those locales, then it looks pretty dodgy for a person tied to such a corporation if she or he is aspiring to high ELECTED office.

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