Today’s Vanity Fair article raises many important questions about Mitt Romney’s financial history, from his familiarity with offshore accounts in foreign tax havens to raising capital from shadowy sources in Latin America when he formed Bain Capital. Romney’s economic philosophy has always put maximizing his own profits above all else, even if it means betting against America and its workers.
Romney has heavily invested in foreign tax havens, raising questions about whether he’s trying to avoid paying taxes. He owns a mysterious corporation in Bermuda, which he failed to disclose until he released just one full year of tax returns. Romney’s finances are also “deeply entangled” with Bain Capital’s investment funds in the Cayman Islands, and he had a Swiss bank account until just last year.
Please see this Vanity Fair article titled “Where The Money Lives.”
Romney relied on “unsavory investors” to help form Bain Capital. When Romney was raising money for Bain Capital’s first fund, he relied on “secrecy-shrouded foreign money.” He turned to several anonymous corporations, trustees and investors in countries like El Salvador, Switzerland, the Bahamas and Panama – which one U.S. customs official described as “one of the filthiest money-laundering sinks in the world.”
Romney’s Economic Philosophy: This raises several new questions about Romney’s finances, but it also confirms something we already knew: Mitt Romney’s economic philosophy has always put maximizing his own profits above anything else, even if it means betting against America and its workers.