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In reply to the discussion: Romney Tax Returns Show $45 Million Income [View all]Sgent
(5,857 posts)43. I agree that putting the money in UBS looks bad
and you could reasonably construe that Romney was supporting a corporation engaging in an illegal enterprise.
However, regardless of the Swiss banking laws / tax evasion committed by others, it has never been a crime or against the tax law to have foreign accounts, as long as they were properly declared (which Romney seemed to have done).
Although traditionally Swiss accounts were secret (the banks didn't report transactions to the IRS), by law the taxpayer must report transactions -- and it *seems* for at least the years released in his tax returns that he did. The agreement and prosecution (since UBS had a US branch) were more about information sharing.
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The Mormons used that money to fund anti-gay initiatives all over the country.
yardwork
Jan 2012
#33
Only if you accept the fallacy that tithing to the mormon church is a charity.
morningfog
Jan 2012
#27
Apparently it was with UBS....who happened to get in big trouble for tax evasion
cbdo2007
Jan 2012
#38
Yep. And the reason is because they are ALL overpaid news readers, hired to parrot Ayn Randian type
closeupready
Jan 2012
#37
You are absolutely correct; they are lackies who are proud to haul big rocks for pharaoh
Tom Ripley
Jan 2012
#45
When you consider it's UBS in conjunction with the offshore Cayman Island accounts, it stinks
closeupready
Jan 2012
#48