AFFLICTING THE COMFORTABLE AND COMFORTING THE AFFLICTED SINCE 1813

Thursday, July 5, 2012

55 pages of Romney's 2010 tax return are devoted to foreign investments

Vanity Fair has been digging into Willard Romney's finances.  Here are some of the low - lites


1-  Romney has at least $30 mil stashed in the Cayman Islands.

2-  Bain Cap. has at least 138 entities in the Caymans.

3- "Bain bought companies, loaded them with debt, and paid itself extravagant fees, thereby bankrupting the companies and destroying tens of thousands of jobs."

4- 55 pages of Romney's 2010 tax return are devoted to foreign investments.

5- Besides the Caymans, Romney has accounts in Luxembourg and Bermuda.

6-  In 2010 – 2011 Romney had an income of $42.5 mil yet paid only a 15% tax.

7- From 1984 – 1999 he was permitted by law to put a max. of $30,000 into IRA type accounts yet his financial disclosure statement shows a value of $102 million in his IRA.


8- "A report by Bain and Co. itself, looking at the period from 2002 to 2007, concluded that there is 'little evidence that private equity owners, overall, added value to the companies they took over …"


Here's the VF link ---


http://www.vanityfair.com/politics/2012/08/investigating-mitt-romney-offshore-accounts










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