Mitt Romney Stays Mum on Tax Avoidance
When you think of the wider world, which of these comes to mind?
1. The adventure of travel?
2. How are we going to maintain America's dominant position?
3. Where are you going to park your money?
Of the two men vying for the presidency, only one had that last thought.
Is that really as irrelevant as Romney wants to make it?
Romney is thought to be worth an estimated
The little we know of Romney's veiled finances has come to light only after much haranguing by his Republican primary opponents. Even then, he only released his 2010 tax return and estimates for 2011. Unlike his dad,
What we know is that in 2010 and 2011 Romney and his wife paid a shockingly low income tax rate of about 15 percent -- far lower than what many middle-class American families pay.
Still, Romney claims he pays all taxes that he legally owes, and his campaign says his overseas assets weren't used as tax shelters. Okay, perhaps, but a well-reported Vanity Fair piece, "Where the Money Lives" by Nicholas Shaxson, suggests that this is not something we should take on faith. For instance, Romney won't disclose the details of his
The tax advantages that come with locating a company in the
What gives? If it's relevant to know how much a presidential candidate pays to cut his hair (see
Romney and his wife have many of their assets in retirement accounts and blind trusts (though Shaxson suggests they may not be so blind). He could have asked their trust managers to avoid tax shelter countries, if for nothing else than to maintain appearances.
His 2010 return also reveals that he had
Whether technically legal or not, the idea of using international tax havens to skirt U.S. tax obligations is not only a rich man's sordid game, it also speaks to one's character. Romney's flirtation with countries of looser financial morals suggests that the candidate, who doesn't drink or have a wandering eye, may have a weakness after all.
Read the latest political news.
- Romney Opens Mouth, Only to Make a Joke of Himself
- Green Scissors for Congress
- The Truth About Obama's Tax Proposal (And The Lies Some are Telling About It)
- Mitt Romney Stays Mum on Tax Avoidance
- Condi Rice Rumor Reveals Divisions in Romney Camp and on the Right
- The African-American Swing State
- Mitt Romney's Tour Starts in Wrong Place
- Teen Assailed for Outgrowing Conservatism
- Obama's Outsourcing Ad is Demagogic Populism
- Campaign on Cruise Control
- Mitt Romney's No-Brainer
- No Loonies Need Apply for GOP Vice-President
- Mitt Romney's Veepstakes Mania
- Mitt Romney's Hidden NAACP Audience
- The Subject Straight-Shooting Mitt Romney Doesn't Dare Address
- The Sham Battle For The Black Vote
- Mitt Romney and the NAACP
- Mitt Romney's Hysteria Bubble
- Our Voting Rights: Protect Them, Don't Reject Them
- A New Kind of Scrutiny on the Campaign Trail
- Older Voters' Disapproval of Affordable Care Act Selfish
- Affordable Care Act: Lifesaving Law
- The 'Freedom' to Refuse Health Insurance
- Shameless Tax Loopholes
- 7 Habits of Highly Ineffective Government
- Co-sponsoring Your Success
- The Escalator of Success (Next Time Take the Stairs)
- Weeding Out Phony Warriors
- The Numbers Game
- The Stossel Solution
- The War on Soda Pop
- Cutting Pentagon Fat
- Don't Expand NAFTA
- 21 Trillion Dollars Hidden in Tax Havens
- The True Meaning of Patriotism
- Year of the Gaffe
- Sabotaging Montana's Campaign Finance Legacy
- Taxing Mitt Romney's Consistency
- Mitt Romney's Worst Enemy
Mitt Romney Stays Mum on Tax Avoidance | Politics
(c) 2012 Tribune Media Services, Inc.