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Via BuzzFeed's Andrew Kaczynski, Paul Ryan talks about the Cayman Islands as a tax shelter in a 2010 speech to the U.S. Chamber of Commerce:

Let's make sure that when businesses invest and build and grow here in America, that's the smart business thing to do. We don't want to have a situation where we are penalizing businesses for keeping their money and their capital and their headquarters and their manufacturing facilities here in America. So, then, rather than having Ireland and the Cayman Islands be the haven for capital formation—the place you hide your money—why don't we make it America?

Why don't we make it here, in this country, so that we can be the leaders of this? I have no doubt in my mind that if we do this, not only can we raise the revenue we currently raise for the federal government, we can get growth back on.

So according to Paul Ryan:
  1. People like Mitt Romney use the Cayman Islands to hide their money.
  2. The reason they hide their money their is to avoid American tax laws.
  3. The solution is to make American tax laws just like the Cayman Islands so guys like Mitt Romney won't want to bail on America.

Most awesome Republican ticket ever. In a race to the bottom kind of way.

Originally posted to The Jed Report on Mon Sep 24, 2012 at 07:55 AM PDT.

Also republished by Daily Kos.

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