Inspired by StellaRay's diary (here)
Mitt's tax returns are probably legit, even though they may skirt on the edge of tax law. The legal tax deductions and maneuvers that Mitt Romney and those of his ilk can use are boggling. We, the American people, need to question those maneuvers.
The legal deductions that Mitt Romney (and those of his ilk) can take are stupendous - and we need to start questioning that. I'm trying to pose these questions to my social circle (some TP, some Dem, some Republican, some Libertarian, some Independents):
Why does Mitt Romney keep his cash that he earned in the US by taking over US companies in a Swiss Bank Account and filtered through the Cayman Islands? It may be legal, but is that how he sees the American public, and is this what he'll do if he's elected?
A Cayman Islands account allows both US businesses to escape as many American taxes as legally possible, but also foreign investors in America to escape as many American taxes as possible as well. A Swiss bank account hides the money from income that the IRS taxes - why does Mitt Romney want to hide his assets from the IRS and the American people? If Mitt is taking advantage of the Swiss Bank Account amnesty, how and where were those funds invested? The amnesty protects Swiss bankholders against charges - what charges could Mitt be facing that make him take the amnesty?
Mitt's businesses outsourced American jobs overseas for profit's sake. If profit is almightly, how will Mitt use that business expertise to protect American jobs if he is elected as President?
And why are businesses allowed to play these shell games so that individual people pay less tax that the lowest 20% do. Who lobbied and created these tax breaks for the top .01% that saves them millions? Why don't we have any type of tax breaks like that? Why don't small businesses (the lifeblood of the US) have anything like these tax breaks?
If he's paid a lower tax rate (by taking various tax breaks with his shell companies) than President Obama, does Mitt Romney really support the American people and industry? What kind of lobbyist deals will Mitt Romney end up with if he's elected?
All Mitt's business experience has been to buy companies, break them up, and drive the remains into bankruptcy. How does this business experience serve the American people?
The tax returns may be entirely legit. But the deductions and the calculations do not indicate that Mitt supports the American people. How did these tax laws come into being, and really, who do they benefit. They don't seem to benefit us in any way.