New Video: Why Did Mitt Romney Have a Swiss Bank Account In the First Place?
January 24, 2012
www.AmericansUnitedforChange.com
New Video: “Why Did Mitt Romney Have a Swiss Bank Account In the First Place?”
Watch It: http://youtu.be/ZAR6SWhbnQ8
The video from Americans United for Change comes on the heels of our mock Romney-Gekko 2012 campaign ad “Find Your Tax Haven” in light of the reports last week that Mitt Romney is “Parking Millions in the Cayman Islands” :
http://www.romneygekko.com/press/latest-ad-find-your-tax-haven/
As it turns out, Mitt “Believe in America” Romney has been even more of an international man of mystery than originally thought when it comes to moving around his enormous wealth…
“Associated Press, Jan. 24, “Romney's mountain of wealth could cast loud echo” : Among the new details contained in the documents are Romney's continuing profits from the private equity firm he founded but no longer runs, a Swiss bank account closed just as Romney launched his White House run and new listings of investment funds that were set up in offshore locations from the Caribbean to Ireland and Luxembourg.
Washington Monthly’s Steve Benen asks key questions the American people deserve answers to: “Were his accounts in the Caymans and in Switzerland created to avoid paying taxes? Was the closing of the Swiss account related to this IRS investigation? And given all of the questions surrounding Romney’s Bain-era work, why does the Republican candidate continue to insist he won’t disclose returns from previous years?”
SEE ALSO:
- Think Progress, Jan. 24: “Six Facts About Mitt Romney’s Tax Returns” :
1. Romney paid a lower tax rate than many middle-class Americans;
2. Romney makes more in a day than the average American makes in a year, and becomes a 1 percenter every week:
3. Romney paid almost nothing in payroll taxes;
4. Romney has accounts in countries notorious for tax dodging;
5. Romney and Gingrich’s tax plans would slash Romney’s taxes;
6. Romney needs four lawyers, including the former IRS commissioner to defend his tax plan - National Journal, Jan. 24, 2012: “What Part of Full Disclosure Does Romney Not Understand?” : But why did he stop there? Why not release returns from past years and end speculation about what Romney may or may not be hiding from his years at Bain Capital, the venture-capital firm at which he earned the money he is now living off of?
- Washington Post (Sargent), Jan. 24. “CHART: What Romney would pay under his own tax plan” : And the column to the right represents what Romney would pay under his own proposals to keep the Bush tax cuts for the rich, retain the 15 percent tax rate on investments, and repeal the Medicare tax in health reform. His tax burden would remain at just over $3 million out of 21.7 million.
- Center for American Progress, Jan 19: “The Consequences of Romney’s Tax and Budget Plans; The 1 Percent Gain Versus Everyone Else’s Pain” : Romney’s plan, for example, offers $2.24 trillion in tax cuts to the top 1 percent of earners, which works out to an average tax cut of $165,000 for those who have an average income of $1.25 million according to the nonpartisan Tax Policy Center. In contrast, Romney is proposing cuts of about equal value to critical federal government programs relied upon by millions low- and moderate-income families today.