“ In addition to paying the lower tax rate on his investment income, Romney has as much as $8 million invested in at least 12 funds listed on a Cayman Islands registry. Another investment, which Romney reports as being worth between $5 million and $25 million, shows up on securities records as having been domiciled in the Caymans.”
ABC News illuminates Romney’s tax tactics. Gawker’s right: this stereotypical rich guy behavior isn’t exactly surprising. But, it’s incredibly disingenuous.
Avoiding taxes on this scale raises an important question that Romney should answer: why does he want to be President? Is it because he cares about American and wants to help? Or is it because he desires the power and prestige? Stashing millions in the Caribbean to avoid contributing to the state only supports the latter.
Further, I fail to see the logic of relocating a family, devoting years of effort to a campaign, and spending large chunks of money (indirectly at this point; Mitt hasn’t funded his campaign) in an attempt to lead America while hiring specialists to keep as much of your money from government coffers as possible. The disconnect is telling.
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