BOTH MITT AND HIS WIFE HAVE MILLIONS OF DOLLARS IN OFFSHORE FUNDS, in the Cayman Islands and elsewhere, which are typically set up to avoid federal income tax. Romney claims to have paid taxes on all of his income, including offshore investments — BUT since he won’t release his tax returns, we’ll never know if that’s true. Another thing we’ll never know if he won’t release his tax returns: the rate of federal tax he pays, which is likely far less than the rate you or I pay.
Bain Capital, under Romney’s leadership, established trusts in offshore accounts to attract business from people looking to avoid federal income taxes. See ABC News video above.
[…] the FBI now appears to be investigating Bain Capital, as a recent FOIA request denial would seem to suggest.
Is the FBI Going After Bain Capital?
The answer to the headline question is yes. About two weeks ago, the FBI evoked FOIA exemption 7(a) and denied access to all Bain Capital records on the grounds that “there is a pending or prospective law enforcement proceeding relevant to these responsive records; and that release of the information contained in these responsive records could reasonably be expected to interfere with the enforcement proceedings.”
What this all means is anyone’s guess, but it seems perfectly clear now that the more “safe” and “electable” Mitt Romney may have more skeletons in the closet than any of the other candidates.
REMEMBER THAT MITT (THE QUARTER BILLION DOLLAR MAN) WOULD LIKE TO FURTHER LOWER TAXES ON THE WEALTHY, while increasing taxes on working and middle class people, resulting in a reduction of federal revenue by approximately 16 percent! Austerity, anyone?
Mitt Romney 2012: different rules for different classes of people — not class warfare though!
- Mitt Romney: speaking out for himself and the one percent since 1966
- Mitt Romney’s tax plan: tax cuts for the wealthy paid for by the rest of us
- Romney Suggests Only Wealthy People Should Run For Office