Mitt Romney’s offshore accounts in foreign tax havens raise serious questions about whether he’s trying to avoid paying taxes. Until he releases more years of his tax returns, the American people can’t know if he set up a shell corporation in Bermuda to avoid paying U.S. taxes.
What’s Romney trying to hide?Until Romney releases more years of his tax returns, the American people can’t know whether he invested in offshore tax havens like Bermuda and the Cayman Islands to intentionally avoid paying U.S. taxes.
Vanity Fair just revealed that Romney has owned a Bermuda-based company for nearly 15 years, raising questions about whether he established it to avoid U.S. taxes and tried to hide it from the public. In order to avoid disclosure, he transferred the mysterious corporation to a blind trust in his wife’s name one day before taking office as governor. He also left this entity off of seven different personal financial disclosure statements he was required to file under state and federal law since 2001.
Switzerland and the Caymans: We already know about Romney’s $3 million Swiss bank account and millions of dollars of investments in foreign tax havens like the Cayman Islands. As Vanity Fair reported, Romney’s finances are also “deeply entangled” with Bain Capital’s offshore investment funds.
Least Transparency in 30 Years: Romney would be the first nominee in more than 30 years – since Ronald Reagan ran for president – to release only one full year of tax returns. Even Richard Nixon released more years of tax returns than Romney has.
Breaking His Father’s Precedent: Romney’s own father first set the standard for presidential candidates disclosing their personal finances, releasing 12 years of tax returns when he ran for president. George Romney released multiple years because he said that “one year could be a fluke, perhaps done for show.”
Good Enough for McCain, But Not the American People: We know Romney has his old tax returns handy because he gave John McCain’s campaign 23 years’ worth of returns when he was under consideration to be McCain’s running mate in 2008.
Ben Labolt, National Press Secretary, has some questions concerning Mitt Romney’s offshore bank accounts and tax returns -watch this video and share it: