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Romney's Swiss Bank Account Is a Gift for Democrats

hazlnut

hazlnut

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[h=1]Romney's Swiss Bank Account Is a Gift for Democrats[/h]

Mitt Romney had a Swiss bank account. You're welcome, Democratic National Committee.


The Republican presidential contender, who released his tax forms Tuesday morning under pressure from his fellow candidates and the media, avoided some of the embarrassing pitfalls that can come with opening one's financial portfolio for public inspection. But in doing so, Romney handed Democratic opposition researchers a trove of new data that will surely show up in attack ads this fall, if he's lucky enough to be the GOP nominee.


Romney's tax forms show he made $21.7 million in 2010 and paid $3 million in federal taxes, a rate of just under 14 percent. The majority of Romney's income came from investments -- $12.6 million in capital gains, $3.3 million in interest and $4.9 million in regular dividends. The 2011 estimated forms show Romney made a total of $20.9 million last year, including $4.1 million in taxable interest, $3.1 million in dividends and $10.7 million in capital gains. Romney will pay about $3.4 million in taxes this year.
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Wow! I mean, just wow! The only electable GOP candidate had a Swiss Bank account.

Of course, Fox News will now embrace all things European. Freedom Fries will now be called, get this... French Fries!!

And right about now, Warren Buffett is saying, "14%, damn! Who does his taxes?"


They should hand out Swiss Cheese and Chocolate before the state of the union, tonight.
 
Why would a Swiss bank account be a gift for Democrats? Has Romney done anything illegal inregards to the manner in which he files his taxes?
 
And here I was reading the thread title thinking Romney's "gift for Democrats" would be him actually giving us his money in the form of his Swiss bank account...
 
Fishstyx said:
Why would a Swiss bank account be a gift for Democrats? Has Romney done anything illegal inregards to the manner in which he files his taxes?
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The Swiss Bank account has the connotation of wealth, extreme wealth. A Swiss bank account is something 99% of Americans don't have access to.

It will become part of a negative narrative not just for Romney but for anyone labeled GOP.

You're probably right, this is more a gift for Newt.
 
hazlnut said:
The Swiss Bank account has the connotation of wealth, extreme wealth. A Swiss bank account is something 99% of Americans don't have access to.

It will become part of a negative narrative not just for Romney but for anyone labeled GOP.

You're probably right, this is more a gift for Newt.
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Were you not aware that Mitt was wealthy, extremely wealthy? If not where do you live, under a rock?
 
I couldn't care less about Romney's wealth. It's a non-issue for me, and it should be for everyone else.
 
It's been ages since I studied foreign tax, but as I recall, an American is taxed on income earned ANYWHERE on Planet Earth, unless there is a tax treaty in place. I wonder just how legal Romney's returns really are.
 
hazlnut said:
The Swiss Bank account has the connotation of wealth, extreme wealth. A Swiss bank account is something 99% of Americans don't have access to.

It will become part of a negative narrative not just for Romney but for anyone labeled GOP.

You're probably right, this is more a gift for Newt.
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Don't think its really a gift for anyone. Mind you, goosestepping hacks will make it an issue but that same issue would be raised regardless of whether he had a Swiss account or not.

Romney is wealthy, he's never hid that fact and the only people that are unaware of that fact are those awaking from a 30 year coma.

So wealth and success has become a negative? Is Obama not wealthy? How about his upper echelon?
 
Swiss and Cayman Island bank accounts. It just sounds bad.
 
Fishstyx said:
Why would a Swiss bank account be a gift for Democrats? Has Romney done anything illegal inregards to the manner in which he files his taxes?
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l

"Its not illegal" isn't persuasive. Romney is increasingly Mr. "I got a good excuse for that one too."
 
It should be persuasive. If he is not breaking any laws, then he's managing his finances properly.

So at the end of the day and what has Romney's opponents praying for, is that "envy" will win the day. Lets not forget hypocrisy as well. The Treasury Secretary and HHS Secretary both weren't paying their taxes yet that was OK then. But Romney, who is paying in accordance with the current tax code, is bad. Too funny.
 
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hazlnut said:
The Swiss Bank account has the connotation of wealth, extreme wealth. A Swiss bank account is something 99% of Americans don't have access to.

It will become part of a negative narrative not just for Romney but for anyone labeled GOP.

You're probably right, this is more a gift for Newt.
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So what? Did it matter in 2004 that John Kerry was loaded?
 
Your Star said:
I couldn't care less about Romney's wealth. It's a non-issue for me, and it should be for everyone else.
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Its a partial issue for me but ONLY if a candidate's PERCEPTION is impacted by their wealth.

The point is SOME wealthy people have absolutley no clue how the majority live and what they want nor do they care. Some wont care about decisions they make because they wont be effected nor will most of the people they personally know. Like say for instance if a candiate thought the avg american made 200K a year then more than likely they will not be good for the people.

Now if a candidate is still in touch with reality then its a non factor.

A friend of mine is a millionaire but he came from nothing so his perception of what is reality is pretty accurate. He knows that most people dont have is life style and he doesnt write those people off because he was one of them. He gets it and he still cares about others.

Him simply HAVING the account is meaningless to me though if it has no impact to who he is and his views.
 
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Your Star said:
I couldn't care less about Romney's wealth. It's a non-issue for me, and it should be for everyone else.
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it's not. Particularly in this day and age of extreme government handouts to the rich; people are getting pissed off.
 
Sheik Yerbuti said:
So what? Did it matter in 2004 that John Kerry was loaded?
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Swiss bank accounts are available to pretty much anyone in the world who is over 18 and has a valid govt. passport, including Americans.

The issue is not just having an SBA, but hiding wealth from the IRS, which takes a lot more than merely having an SBA.

You have to setup a foreign holding company, pass through corp, etc. It's too complicated for me, and I imagine, for most people, without an expert accountant handling everything.
 
Fishstyx said:
Why would a Swiss bank account be a gift for Democrats? Has Romney done anything illegal inregards to the manner in which he files his taxes?
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You don't know much about conservative politics, I see. Conservative voters, esp. in the Deep South bible/barn states like SC, believe that all things European are bad and only American things are good, and it is only "lefty liberal Dems" that cheat on taxes, because that's what foxnews and rush limbaugh told them.
 
Romney didn't want to release his tax records - he was forced to do it after losing to Gingrich by such a wide margin.

Romney knew that Swiss and Caymen Island accounts would be a political liability, so why didn't didn't he correct it years ago when decided to run for president?
 
Fishstyx said:
It should be persuasive. If he is not breaking any laws, then he's managing his finances properly.

So at the end of the day and what has Romney's opponents praying for, is that "envy" will win the day. Lets not forget hypocrisy as well. The Treasury Secretary and HHS Secretary both weren't paying their taxes yet that was OK then. But Romney, who is paying in accordance with the current tax code, is bad. Too funny.
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The problem isn't envy, it's that he is out of touch with the people he's asking to vote for him. It's not just him either, it's most of the politicians out there as well.
 
hazlnut said:
The Swiss Bank account has the connotation of wealth, extreme wealth. A Swiss bank account is something 99% of Americans don't have access to.

It will become part of a negative narrative not just for Romney but for anyone labeled GOP.

You're probably right, this is more a gift for Newt.
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Yea-up them thar rich people suck as. It ain't fare that thems rich people don't pay all their money in taxes while 50% of American households do not pay any federal income tax.I needs my welfares, section 8 and foodstamps sos I cans give my 10 kids I'm raising all by mysefs can have their koolaid,pickels, barbecue pork rinds and hot cheetos.We should go tell to Nancey Pelosi and John Kerry about how all them thar rich people don't pay all their money taxes. It just ain't fair that all them thar rich people have all the money and weeze dont's.


In all seriousness I thought a swiss bank account was bad because it was synonymous with tax evasion and not because rich people had one and everyone else didn't.If Romney is actually evading taxes then a swiss bank account would be a gift to the democrats.
 
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jamesrage said:
Yea-up them thar rich people suck as. It ain't fare that thems rich people don't pay all their money in taxes while 50% of American households do not pay any federal income tax.I needs my welfares, section 8 and foodstamps sos I cans give my 10 kids I'm raising all by mysefs can have their koolaid,pickels, barbecue pork rinds and hot cheetos.We should go tell to Nancey Pelosi and John Kerry about how all them thar rich people don't pay all their money taxes. It just ain't fair that all them thar rich people have all the money and weeze dont's.


Btw I thought a swiss bank account was bad because it was synonymous with tax evasion and not because rich people had one and everyone else didn't.
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It also mighty silly how them thar konservitives in Alabama think if ye make $80,000/year, you pay lower taxes as a percent of yer earnins than someone makin' $27,000,000
 
TheNextEra said:
The problem isn't envy, it's that he is out of touch with the people he's asking to vote for him. It's not just him either, it's most of the politicians out there as well.
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Except that just described every President that's ever held office. And its not "most" politicians, its pretty much all of them. How many politicians assumed their offices after being laid off, broke, or homeless? Just because someone doesn't live that life doesn't mean they're out of touch.
 
hazlnut said:
The Swiss Bank account has the connotation of wealth, extreme wealth.
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You know what else has the connotation of wealth, extreme wealth? Making more than $20 million per year.

I don't get why we need to sully the Swiss over this.
 
solletica said:
It also mighty silly how them thar konservitives in Alabama think if ye make $80,000/year, you pay lower taxes as a percent of yer earnins than someone makin' $27,000,000
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I am sure they are using every deduction they can then they probably do pay a less percentage than someone earning 27 million a year.
I do not know where you live but 80,000 a year is pretty well off in most parts of the country.
 
The criticism shouldn't be directed at the 50% of American households who don't pay federal income tax - the criticism should be directed at those in government and private corporations who allowed it to happen.

When 50% of the nation's population cannot earn a "living wage," the problem is not with the people but the economic system that has relegated them to the "sidelines."

The fact that income derived through "labor" is taxed at a much higher rate than "investments" is just one indicator of how much the economic system has been twisted to favor the wealthy.
 
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