Romney defends Swiss bank account

[progressivebydesign]

26. BS. Then WHY would you put your money overseas? And put things in your wife's name???

I mean, it can't be because of the drive up windows on the Cayman Islands, or the chocolate in Switzerland.

Okay. the BIG reason to use Swiss banks is PRIVACY http://money.howstuffworks.com/personal-finance/banking/swiss-bank-account.htm So Romney can say that he paid taxes on that money, but the truth is.. no one would ever fucking know, because it does not have to be disclosed. Of no MSM has had the cajones to ask him if he took amnesty.

But basically the Swiss banks are all about hiding money. And if no one knows how much you have, they don't know if you'd paid taxes on it.

And THIS is why he has companies in the Cayman Islands: "No direct taxation is imposed on residents and Cayman Islands companies. The government receives the majority of its income from indirect taxation. Duty is levied against most imported goods, which is typically in the range of 22% to 25%. Some items are exempted, such as baby formula, books, cameras and certain items are taxed at 5%. Duty on automobiles depends on their value. The duty can amount to 29.5% up to $20,000.00 KYD CIF and up to 42% over $30,000.00 KYD CIF for expensive models. The government charges flat licensing fees on financial institutions that operate in the islands and there are work permit fees on foreign labour. A 10% government tax is placed on all tourist accommodations in addition to US$25.00 airport departure tax which is built in to the cost of an airline ticket.[55]

"There are no taxes on profits, capital gains, income or any withholding taxes charged to foreign investors. There are no estate or death duties payable on Cayman Islands real estate or other assets held in the Cayman Islands. from Wikipedia" So basically it's a way to have his money in faux companies, and avoid paying taxes on them. He's full of shit. He did NOT pay any taxes on the Cayman island SaKaty business... and everything else there.

Are there any real, educated, journalists left that actually KNOW these things? And Ask about them???