If Mitt Romney isn't involved in the insider trading thing set up by Congress and has been honorable in his business dealings since... at least since he joined politics... than he should prove it now by releasing his tax returns going back to the beginning of his time in political office. He already lost the election so minor infractions and his ridiculously low tax rate (compared to most of Republicans & Americans who pay about 10% more in taxes), will not impact the next elections cause there is no way the GOP can handle another Romney run. They are sick of him. If he is not dishonorable with his use of political office, stealing from taxpayers and moving it into offshore tax shelters, he should release all his taxes or retire from political and news media life for good.
About Mitt's EIGHT Cayman Tax Shelters...
Examples of "crony capitalism" or "socialism for the rich" or "corporatism" or "capitalist communism"...
NOTE: Capitalist Socialism (making the taxpayer pay for private losses of a select group of rich people): *When this financial crisis began nearly four years ago the story seemed simple. The banks were broke and they told our leaders that unless the taxpayers bailed them out and took their private debts on to the public account, then the world would end. Our politicians believed them. We took on huge debts and bailed out the banks. Right or wrong, at least the story seemed straightforward: they owed us huge sums of money. Then as the crisis continued, a new group most of us had never heard of appeared – the bond holders. It turned out the banks owed huge sums to the bond holders too, and so did we. The story of who owed whom began to change.
Gradually the story became less about the banks owing us money and more about owing the bond holders.
It seems to me that our governments and their financial advisers from the banks have a double standard when it comes to debt and its repayment; one which greatly benefits the financial world and punishes the taxpayer.
On the one hand, the debts of private banks and those who own that debt, the bond holders, are being protected from any losses by the publicly funded bailouts. Public debt, on the other hand, at the insistence of the same banks and bond holders we have bailed out, is being paid down at breakneck speed, no matter what the cost in unemployment and the destruction of social services.*
Why Should Taxpayers Give Big Banks $83 Billion a Year? via Bloomberg News http://ow.ly/hXmHR
News Report: George W. Bush, has been missing in action totally this election. He surfaced today, however, in the Cayman Islands where he is delivering the keynote address at a private “investment” conference.
The press is locked out. A spokesman for the Cayman Alternative Investment Summit says the speech is totally closed to all journalists. Spokesman Dan Kneipp says he is not even permitted to discuss the subject of Bush's speech scheduled for Thursday evening at the Ritz-Carlton. Attendees are paying $4,000 each to get advice at this “investment” seminar. Sponsors include KPMG, a company that provides tax advisory services, and Deutsche Bank.
What is the conference about? It is about the benefits of using the Cayman Islands to shelter income in order to avoid paying U.S. taxes. How did George Bush become an expert on the subject? Perhaps Mitt Romney gave him some tips.
- Holds a reported $33 million in the Caribbean British territory's accounts
- Offshore banking could be one reason Romney is withholding his tax returns
- Newt Gingrich reported 31 percent tax on his income -- in line with the top tax bracket