Robert Gibbs: Mitt Romney's Budget Math Is ("fundamentally dishonest" &) 'Absolutely Crazy'
Source: Huffington Post
WASHINGTON -- Former White House spokesman Robert Gibbs on Sunday lit into Mitt Romney's recent debate performance, calling the Republican presidential nominee's claims "fundamentally dishonest" and "absolutely crazy."
"The underpinnings and foundations of that performance were fundamentally dishonest," Gibbs said on ABC's "This Week with George Stephanopoulos." "He walked away from the central tenet of his economic theory by saying he had no idea what the president was talking about. Ten minutes after the debate, even his own staff is walking back his answers on health care and preexisting conditions."
During the debate on Wednesday, Romney insisted that there is no tax break for corporations sending jobs offshore. In fact, there are several tax perks associated with offshoring. Moving costs can be explicitly deducted from a company's tax bill, and corporations do not have to pay tax on revenues earned overseas in tax havens until they bring the money back to the United States -- giving businesses an incentive to move work abroad and keep money offshore.
Romney's own campaign adviser, Eric Fehrnstrom, also quickly walked back Romney's debate claim that the former Massachusetts governor's health care proposal will guarantee affordable insurance for people with pre-existing conditions.
1. There Is A Reason Places Like The Cayman Islands Are Called Tax Havens
The simple reason is that they are tax havens. There are no other reasons for parking money in places like this. The money is not managed from these locations, but rather executed electronically from other nations. If fact, the physical money could well be in Swiss bank accounts. It is certainly not denominated in the Cayman Islands currency.