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.”