Romney's Funny Money
Since the Republican primary got occupied, we've gotten a chance to see some of the nifty things you can do to protect your wealth if you're as rich as Mitt Romney.
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Mitt Romney says he paid exactly what federal tax laws require, but it's hard not to notice he also checks all the boxes of a cartoon version of a Wall Street villain: Swiss bank accounts, funds in the Cayman Islands, and, The New York Times reports, original IPO shares in Goldman Sachs.
Since the Republican primary got occupied, we've gotten a chance to see some of the nifty things you can do to protect your wealth if you're as rich as Mitt Romney.
Mitt Romney keeps millions of dollars in funds based in the Cayman Islands, a notorious tax shelter, reports ABC News, and while they don't think he's ducking U.S. taxes, the story is another reminder than the guy is very rich.
Of course Mitt Romney's rivals for the Republican nomination want to take advantage of Romney's tendency to remind voters of things they hate about rich people -- like his confession that he pays 15 percent of his income in taxes -- but the platforms they're running on call for even lower taxes for people like Romney.
One point of interest if and when Mitt Romney releases his tax returns, will be his ties to The Church of Jesus Christ of Latter-day Saints,, but with news of some recently uncovered Bain transactions might mean we won't have to wait that long.
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