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    More undisclosed offshore money: Romney’s even wealthier than previously reported →

    You don’t get to know how much Mitt Romney is worth — or where he keeps his money. Via Political Wire: “Mitt Romney’s investment portfolio “has included an offshore company that remained invisible to voters as his political star rose,” the AP reports.”

    Based in Bermuda, Sankaty High Yield Asset Investors Ltd. was not listed on any of Romney’s state or federal financial reports. The company is among several Romney holdings that have not been fully disclosed, including one that recently posted a $1.9 million earning — suggesting he could be wealthier than the nearly $250 million estimated by his campaign.”

    “The omissions were permitted by state and federal authorities overseeing Romney’s ethics filings… But Romney’s limited disclosures deprive the public of an accurate depiction of his wealth and a clear understanding of how his assets are handled and taxed.”

    original image via: christopherstreet

    This is how the wealthiest become even wealthier: earn money in America, offshore it to other countries to avoid taxes. THAT’S HOW AMERICA WORKS!

    Investigation: Mitt Romney’s Offshore Accounts, Tax Loopholes, and Mysterious I.R.A. | Vanity Fair“For all Mitt Romney’s touting of his business record, when it comes to his own money the Republican nominee is remarkably shy about disclosing numbers and investments. Nicholas Shaxson delves into the murky world of offshore finance, revealing loopholes that allow the very wealthy to skirt tax laws, and investigating just how much of Romney’s fortune (with $30 million in Bain Capital funds in the Cayman Islands alone?) looks pretty strange for a presidential candidate.”

    — 2 years ago with 5 notes
    #class war  #income redistribution  #journalism  #news  #politics  #unemployment  #vote!  #war on the middle class  #bain capital  #bermuda  #even richer  #GOP  #king of bain  #LOL  #offshore money  #plutocracy  #Republicans  #sankaty high yield asset investors  #tax avoidance  #the unwashed don't need to know  #undisclosed accounts 
    Like Mitt Romney, the world’s super rich are hiding at least $21 trillion offshore →

    CBS News“With about 55,000 inhabitants, the Cayman Islands should not be a well-known name in the rest of the world, but the tiny Caribbean territory has become famous as a tax haven for the world’s super rich. According to a new report, the Caymans – along with the other dozen or so international havens for wealth like Switzerland and Bermuda – are the holders of so much of the world’s capital, entire regional economies could be moved on it. The Tax Justice Network has just released a report estimating that the world’s tax havens house anywhere from $21 trillion to $32 trillion of money that governments cannot tax.” 

    It has been revealed that Mitt Romney keeps part of his fortune in all three tax havens mentioned above: the CaymansSwitzerland, and Bermuda. And he wants to be president.

    — 2 years ago with 2 notes
    #1. tax cuts for the rich  #2. austerity for the rest of us  #class war  #income redistribution  #Mitt Romney  #news  #politics  #Republican Party  #Tea Party  #unemployment  #vote!  #war on the middle class  #bermuda  #caymans  #hiding money  #international tax havens  #not like us  #one percent  #plutocracy  #Switzerland  #tax free money  #tax havens  #the world's wealthy