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1-Old-Man

(2,667 posts)
Tue Sep 25, 2012, 11:34 AM Sep 2012

You know, the Amnesty question is really a big issue [View all]

If you will allow me to simplify for a moment the Amnesty question goes like this. The bank of switzerland was offering overly aggressive tax avoidance schemes that the IRS thought were illegal and that several thousand Americans had bought into them. A deal was worked out between the IRS and the bank and "investors" who had played in the scheme were offered and amnesty period during which they would pay the taxes they should have along with fines and reduced penalties and for doing this they would not be prosecuted for the tax evasion they had practiced. It is speculated that Mitt Romney was one of those given immunity and that all this would be revealed if he were to show his tax returns for a several recent years.

This is has the potential to be a really big issue. Mitt Romney, who does no work for his income, appears to have spent his life building up a web of investments that support him to the tune of millions of dollars a year while minimizing his tax liability to an absurdly low level. This has been his life's work, the building of a self sustaining and ever growing financial empire unburdened by the need to support any particular state. Romney is, after all, not an American first but a financial man of the world with no more allegiance to this nation than can be whittled out of the tax code.

Release the returns!

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