When Mitt's father ran for president in 1968, he released 12 years of tax returns. He stated “one year could be a fluke, perhaps done for show.” Mitt has released one year, and that revealed he had declared accounts in Bermuda, The Cayman Islands and Switzerland. All countries that are tax havens and have secrecy laws to protect depositors. Not illegal, but highly suspect. Why not Germany, France or Italy? He may and I repeat may release a later year tax return, but he can't release a previous year. You see Mitt doesn't like to pay taxes. When he worked for Bain, they lobbied for the tax break that allows them to pay 15% on carried interest. When they wanted to close the loophole, Bain spent millions again on lobbying. When he was on the board of directors of Marriott, he was Audit Chairman. He reduced their tax rate to 6.8% through offshore tax dodges and sleazy loopholes. Enough of this, the real story starts below.
In 2009 the IRS had a tax amnesty for people that had money in undeclared Swiss bank accounts. The IRS was given a list of 4,500 names, and let the financial world know they were going to go after these people. More than 30,000 people came forward and the government collected 2.7 billion in taxes and penalties. The company that came forward with these names was UBS, the same company that Mitt has his "declared" account with. Some believe up to 10 trillion dollars are stashed in tax havens by Americans. His staff was sweating bullets in January when he released his tax release. Now that there are calls for him to release his previous tax returns, they are back in panic mode. They have no way to explain the mysterious appearing accounts and the sudden surge in assets. If he does release them, look for white out and a copy of Photo Shop at his campaign office.
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