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View Diary: Here's why Romney will NEVER release his tax forms, and why we need to keep hounding him (186 comments)

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  •  Follow the money (20+ / 0-)

    How about the wealthy foreign individuals that invested in his offshore enterprises to escape US taxes? Where did that money go? Was it used in the US. Were US companies and their employees trashed to generate returns on investments for the wealthy and privileged outside of the US?

    I can really see this. First Romney discovers that LBOs are like stealing, especially if you then suck the company dry and then trash it. Then he discovers a source of capital outside of the US to fund these very profitable "investments". It's totally win-win and he becomes fabulously wealthy.

    This is all speculation but it fits the data.

    •  Your statement (10+ / 0-)
      if challenged they will defend them in court and if they lose the client simply pays the taxes owed.
      says a lot about our system.  What's the downside of cheating?  I suspect there are some penalties involved, but what are the odds of getting caught when you have a maze of companies and cross filings?

      Be the change you want to see in the world. -Gandhi

      by DRo on Sat Jul 28, 2012 at 07:43:43 AM PDT

      [ Parent ]

    •  Speculation and investigation (3+ / 0-)
      Recommended by:
      ozsea1, OleHippieChick, LSophia

      is how we bring down assholes like Romney.

    •  The Wizard - Bain Capital did nothing novel or (1+ / 0-)
      Recommended by:
      johnny wurster

      unique. Every major private equity fund, venture capital fund, hedge fund, movie partnership, Oil and Gas partnership and a few more I can't think of this Saturday afternoon follow the exact same protocol and were structured this way decades before Bain Capital was even founded.  When each of these entities is forming a new "fund" they actually form two funds, one in the US for US taxpayers and US institutions and one in a tax haven for all foreign investors. Sophisticated foreign individual investors and ALL foreign institutional investors will NOT invest in a partnership that subjects them to US tax law and IRS reporting. It's really that simple. If you would like to attract foreign capital you have to structure the investment vehicle the way they demand. If you want only US taxpayers in your fund you can just have a single US partnership. No foreign investors will participate. This has absolutely nothing to do with Mitt Romney or Bain Capital. This road was a well traveled high speed freeway before the BC team was even assembled.  

      "let's talk about that"

      by VClib on Sat Jul 28, 2012 at 05:31:59 PM PDT

      [ Parent ]

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