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DeltaLitProf

(883 posts)

19. What does "foreign" mean in this context?

Fri Aug 24, 2012, 03:05 PM

Aug 2012

Let's say you are an American and you have a company earning money for you that's located in Hope, Arkansas. Does moving your company headquarters to a Cayman Islands post office box then make you a "foreign" company, thereby entitling you to pay Cayman Islands taxes but avoid American taxes?

This may be a legal practice, but candidates for president should be held to a higher standard of conduct than what is merely legal. Journalists need to find out what companies that had been American have taken advantage of this opportunity. How much have those companies avoided in American taxes? How much did Bain benefit from abetting this process? How much did the Romneys benefit?

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BOOM! BAIN Bombshell-It is beginning to look as if Harry Reid knew exactly what he was talking about [View all] kpete Aug 2012 OP

Calling the IRS! BlueToTheBone Aug 2012 #1

The problem is, I don't think it's illegal, just unethical and, ANTI-AMERICAN!!!! gateley Aug 2012 #3

Laws that Romney and his cronies made sure were passed. yardwork Aug 2012 #4

Yes but the responsibility still lies with the legislators who made the loopholes. randome Aug 2012 #5

But Romney said he never paid less than 13% in taxes. Qutzupalotl Aug 2012 #7

He said that he never paid less than 13% on his INCOME. If his income was zero, he paid zero taxes. yardwork Aug 2012 #9

He also may have filed "retroactively" to get amnesty cleduc Aug 2012 #11

The statement I saw didn't specify "income." Qutzupalotl Aug 2012 #17

you are correct. He never said "INCOME". And he never said 13% of what. n/t antigop Aug 2012 #22

Weasel pscot Aug 2012 #53

and just a reminder...13% of zero is zero n/t antigop Aug 2012 #55

But it might reveal that BOTH Mitt and his wife's admission of a 10% tithe Segami Aug 2012 #8

Interesting point there. dixiegrrrrl Aug 2012 #43

But it explains why our government has a deficit. JDPriestly Aug 2012 #37

That's a REALLY good point! And they should present it just as you have! gateley Aug 2012 #40

Quite interesting. K&R myrna minx Aug 2012 #2

Taxes and Laws are for little people. Romney and his ilk live by a different set of rules. neverforget Aug 2012 #6

Ha! yesterday i wondered out loud about that very thing chknltl Aug 2012 #10

I wonder if his birther comments were to keep this story out of the headlines aint_no_life_nowhere Aug 2012 #12

Riddle me this?? kentuck Aug 2012 #13

I think it's the case that under US tax law, Flatulo Aug 2012 #20

"There must be a fuck ton of PO boxes in the Caymen Islands" jberryhill Aug 2012 #30

What I am wondering is why we invaded Iraq. JDPriestly Aug 2012 #38

But? Yeah. We would never do anything that would make that much sense. maddiemom Aug 2012 #60

John, you rock as always. Thanks for those pics. nt Flatulo Aug 2012 #44

I cannot find that law but I found this one: kentuck Aug 2012 #56

kinda silly to mention payroll taxes hfojvt Aug 2012 #54

To hell with morals and ethics. If it's legal, it's legal! Brother Buzz Aug 2012 #14

Of course it is legal in Hell jberryhill Aug 2012 #31

It is time for some heavyweight journalists and organizations to take this up CabCurious Aug 2012 #15

Did someone leak these files? steal them? Does anyone know their origin? Voice for Peace Aug 2012 #16

People KNEW the rich do this crap, the QUESTION is if it's considered an outrage... Spitfire of ATJ Aug 2012 #18

What does "foreign" mean in this context? DeltaLitProf Aug 2012 #19

I got audited when I turned 18 from my after school job. Why is Bain/Romney not being audited? firehorse Aug 2012 #21

I recall Romney admitting that he's been audited more than once aint_no_life_nowhere Aug 2012 #25

Here's why: DeSwiss Aug 2012 #26

This may also be why..... DeSwiss Aug 2012 #23

He has to be the most dense person in political history Cosmocat Aug 2012 #24

Here I always thought a good american citizen and patriot would pay their taxes. I guess southernyankeebelle Aug 2012 #27

He waves an American Flag mick063 Aug 2012 #32

Yes, to me he is the worst of an american citizen selfishness. He is all out for himself. southernyankeebelle Aug 2012 #39

Float like a butterfly, sting like a bee... Blue Owl Aug 2012 #28

First Romney dodges the draft, then he dodges his obligation to pay US taxes Berlum Aug 2012 #29

very un american riverbendviewgal Aug 2012 #35

robme heaven05 Aug 2012 #33

If big corporations and rich individuals don't pay any taxes riverbendviewgal Aug 2012 #34

If our nation goes broke, it will be for the same reason that Greece JDPriestly Aug 2012 #36

That's exactly correct. It's become blood sport, pure and simple. Taxes are for suckers. nt Flatulo Aug 2012 #45

Romney's tax problems with Bain not even tip of the iceberg Where was George Aug 2012 #41

I'm concerned that Nitt's taxes will be a verboten topic during the debates ailsagirl Aug 2012 #42

he's trying to hide behind his church eShirl Aug 2012 #46

k&r... spanone Aug 2012 #47

HUGE K & R !!! WillyT Aug 2012 #48

This wasn't the only thing going on at Bain .. svip Aug 2012 #49

Lordy that's our boy! good catch, thanks...nt dougolat Aug 2012 #50

Slave labor is the goal. lonestarnot Aug 2012 #58

I want some real charges filed or an investigation started dammit!!!!!!! BootinUp Aug 2012 #51

Wow - he really is a proud American, isn't he? jillan Aug 2012 #52

A fucking felon running for the highest office of the land. How is this possible? Only in merika! lonestarnot Aug 2012 #57

Romney doesn't have enough thumbs for this leaky dike lunatica Aug 2012 #59