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View Diary: Romney Parks Millions in Offshore Tax Havens UPDATE 2 (309 comments)

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  •  He's not lowering his tax bill by doing this. (1+ / 0-)
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    VClib

    As noted upthread, his 15% tax rate is contingent on these partnerships being treated as US partnerships.

    •  wait (0+ / 0-)

      isn't it a 0% tax rate on the money in the caymens?

      •  jeopardydd - there is no Cayman Is tax (0+ / 0-)

        but any US investor in a Cayman Is partnership while not subject to any tax from the Cayman Is must pay full US taxes on any income or realized gains. US tax payers may legally have funds anywhere in the world, including tax havens but you still must pay full US taxes on any income.

        "let's talk about that"

        by VClib on Wed Jan 18, 2012 at 11:16:59 PM PST

        [ Parent ]

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