You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Reply #47: i dunno---waiting for more ____ to hit the fan re: Bain Capital's offshore tax haven accounts [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
Home » Discuss » Latest Breaking News Donate to DU
wordpix Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 09:00 PM
Response to Reply #28
47. i dunno---waiting for more ____ to hit the fan re: Bain Capital's offshore tax haven accounts
Edited on Wed Dec-07-11 09:03 PM by wordpix
Rich Mitt's investment tax havens offshore won't be big with the 99%-ers. /


As the Los Angeles Times reported in 2007:

Romney gained no personal tax benefit from the legal operations in Bermuda and the Cayman Islands. But aides to the Republican presidential hopeful and former colleagues acknowledged that the tax-friendly jurisdictions helped attract billions of additional investment dollars to Romneys former company, Bain Capital, and thus boosted profits for Romney and his partners.
By routing investments through shell companies set up in Bermuda or the Caymans, companies like Bain Capital allow their investors to avoid the 35 percent corporate tax rate they would have to pay in the U.S., leaving more revenues for executive compensation. Romney might have closed corporate tax loopholes in Massachusetts, but he predictably does not feel the same way about the tax laws that allowed his company to operate freely in these offshore tax havens. He recently advocated for a one-time repatriation holiday to allow corporations hiding income offshore to bring it home to America at dramatically lower tax rates, and he supports substantially lowering the corporate tax rate. more...
Printer Friendly | Permalink | Reply | Top

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC