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If Romney is such a red-blooded American, why does he keep his money in Switzerland and the Cayman Islands?

He claims that giving rich people tax breaks will allow them to create jobs, but if he really believes that shouldn't he be investing his money HERE to create jobs rather than hiding it in offshore banks?

Update:

Tiger - the big deal is that Romeny is lying by saying that if rich people pay less in taxes they'll invest their windfall in America and create jobs.

11 Answers

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  • 9 years ago
    Favorite Answer

    Im not affiliated with any political party but I bet thats the same way most all politicians distribute their cash reserves, DEMOCRATS are no exception! If I were wealthy it is what I would do, and I'd bet a years wages that every major American corporation including the unions like SEIU that supports your lord and master Obama does the same thing. So whats the big deal about it?

  • Erika
    Lv 4
    5 years ago

    Both the Dem's' and re pubs' can rarely agree on anything even when they need the same thing. Except you go to c-span you will now not see so much insurance policy of third occasion candidates. Gigantic enterprises make gigantic contributions to candidates they help,you might be restrained in how a lot that you could donate to a candidate personally. Enterprises established committees and groups to support and fund candidates. The contemporary chapter legal guidelines have been written via the banking industry for congress to make into legislation and it bit them in the butt. The other quandary is that some persons vote for 1 social gathering always,both since they aid that celebration at all times and consider it is the only get together to do whats right,or they're dissatisfied with the other social gathering for some cause. Each parties want it their way and will compromise some to get their method. If what I learn on the web last night is even half true,this election would possibly not topic anyway. If we've one more attack like Sept. 11 or a principal disaster before the elections F.E.M.A . Will take control and George Bush will grow to be the proper vigor of presidency. If it happens after the elections and earlier than the brand new president takes place of work,I do not know what's going to occur. G.W. Signed an government order for the continuity of presidency and F.E.M.A. Will take over and suspend the structure and the President would be the solidarity executive. Congress and the Supreme court docket will nonetheless exist however will have very little voice,the President has the final say in all concerns. There used to be additionally another website online speakme about the formation of the North American Union (Canada,U.S. And Mexico forming a union just like the E.U. And the U.S. Structure can be long past.

  • ?
    Lv 5
    9 years ago

    You do create jobs if you give the business people tax breaks. Any business person will tell you that.

    Obviously if you increase cost to the business it's going to come out of the employees' paychecks and raise cost for services/products for the consumer to cover the increased tax.

    Investing in an offshore bank is just a good business decision. If it saves him on taxes then fine. It's not as if our taxes are actually doing anything for us. Government waste is ridiculous. If it was anyone else people would think this was a smart decision. So.....basically a good business man is running for President. Clearly the current one doesn't even know the basics about running an economy. If the current government was in favor of business, the companies could stop outsourcing jobs and keep our revenue here.

    Obama in the meantime is sending our money to South America to support oil development there.

    So we can not only employ people in other countries, but have to buy oil from them as well.

    He COULD develop oil here.....employing Americans, and keeping our money here, but he doesn't.

    This is neither a good business decision nor a decision in support of Americans.

    Right now we have an employer's market. More employee abuses are going on, companies do not have to pay good wages because nobody else is hiring either, but workers are afraid to complain and cannot leave their jobs, because there is not another job elsewhere and they do not want to lose what they DO have - so......yes, you DO want to cut taxes on the rich. They will naturally want to grow their businesses, there will be more jobs, and people rather than employers will be able to pick and choose between job offers.

  • andy
    Lv 7
    9 years ago

    Not sure about the Cayman Islands, but about a decade ago the Swiss Banks were opened to the Federal Government so that the interest on those accounts can be taxed.

    Also, in case you haven't been following what has been going on for the last 4 years, most companies and the rich have been holding on to their money because our Government is so messed up it is not even funny. They don't like the heavy penalties that the Democrats want to impose on the successful to pay for those that don't even want to try.

    It is sad when people who were formally on welfare say that making a decent salary only put them back to where they were when on welfare. That tells me that we need to adjust our welfare program since it makes it hard for people to get off of it.

    Love the person who wrongly believes that Romney's 15% paid in income tax is less then what the majority of workers pay. According to Politifact it is not until you hit the upper 50% of workers that people start paying some income tax and it is only the top 25% that pay roughly the same amount as Romney.

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  • ?
    Lv 5
    9 years ago

    Why would you put your money in known failing banks, jp morgan, goldman sachs, wells fargo, washington mutual, citi, liaman brothers, freddy may an freddy mac, bank of america, united ect.. some of these banks went bankrupted and were forced to shut down and lost there companies money some of even were caught in a scandal using customer money to pay for their investments and other schemes and simply they charge alot more to keep an account open and I hope you know anytime money that gets withdrawn from an offshore account gets taxed so why not have a fall back bank when so many of our banks have such bad reputations and been caught in multiple scandals and if I recall wasnt one of obamas best friends john corzine iI believe to his name was caught in the middle and became a well known major player of stealing money from customer accounts so hop off your high horse and get back in line

  • Anonymous
    9 years ago

    Keeping money and investing are not the same thing. Maybe he's afraid of being taxed until he's no longer rich. The UK did this so much that the rich fled. The king of inclusiveness and equality, John Lennon fled to America to avoid taxes in Britain. Or maybe he was just stalking that girl that ran for her life from him.

    Cracks me up liberals fall for his imagine BS just like they fall for Obama. Remember, he also wrote, "If I catch you with another man you'd better run for your life."

    You have to look at the whole story.

  • Matt H
    Lv 6
    9 years ago

    Romney pays less than 15% in taxes. Half of what the average American pays. He doesnt create jobs. In fact, he actively outsources them. He is literally screwing over America 2 different ways.

  • Anonymous
    9 years ago

    Because they say one thing and do another.

    Source(s): Typical republican [Mitt, not me!]
  • 9 years ago

    He is a red-blooded American THIEF.

    @ xu

    John Lennon was not trying to become US president. I don't think too many people would've voted for him.

    Your logic is stupid.

  • ?
    Lv 7
    9 years ago

    His class affiliation- rich class.

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