Bain Documents: Romney Offshore Investments Used 'Blockers' To Avoid Taxes

Rain's picture

ABC News
By and , Aug. 23, 2012

PHOTO: Mitt Romney

Evan Vucci/AP Photo
 
Republican presidential candidate, former Massachusetts Gov. Mitt Romney is shown during a campaign rally, Aug. 20, 2012, in Manchester N.H.

The private equity firm founded by Republican presidential candidate Mitt Romney made use of arcane techniques in several of its Cayman Islands-based funds to avoid U.S. taxes, according to a trove of Bain Capital's private audit and finance records made public on the website Gawker today.

The audited financial statements of one of the Cayman Islands funds make note of the use of "blocker" entities, which are used to help retirement accounts and nonprofit entities avoid some taxes. Financial statements for another fund note that it "intends to conduct its operations so it will … not be subject to United States federal income or withholding tax ..."

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Comments

Another Shocker!!!

drmoe's picture

Who could have seen this coming?  Pretty much everybody in America I would guess.

 

What a shame.  The Republicans shiny new nickel is flawed.

 

Can I have a collective - Aw aw aw aw aw aw aw aw aw aw . . . shucks!

 

What else have you got in your collective bag of tricks?

 

How about Ron Paul?

 

I know, I know - too honest!  Can't be manipulated!  Tells the truth!  Wants to reset the American Agenda to something Real!

 

Can't have that.

 

Stick with Mitt - He'll take you down the Garden Path of "let's pretend we know what we're doing"

 

Why offer the truth when you can use fancy footwork and bullshit - it's always worked before.

 

By the way - keep up this Disinfo Campaign you've got going.  You guys are so sly we can't see a thing!!!  LOL!