Oh Mitty. The sad thing is, you really thought you could have kept this a secret. You apparently thought the American people were so slow, that they would just mosey on along, accepting your explanations that you are “one of us,” and that you’re often “worried about getting a pink slip.” You obviously thought Mr. Romney, that we really believed you when you said you were unemployed too.
Well the Cayman Islands called and we are now wiser to your game.
As one of the wealthiest candidates to run for president in recent times, Romney has used a variety of techniques to help minimize the taxes on his estimated $250 million fortune. In addition to paying the lower tax rate on his investment income, Romney has as much as $8 million invested in at least 12 funds listed on a Cayman Islands registry. Another investment, which Romney reports as being worth between $5 million and $25 million, shows up on securities records as having been domiciled in the Caymans.
Official documents reviewed by ABC News show that Bain Capital, the private equity partnership Romney once ran, has set up some 138 secretive offshore funds in the Caymans.
Romney campaign officials and those at Bain Capital tell ABC News that the purpose of setting up those accounts in the Cayman Islands is to help attract money from foreign investors, and that the accounts provide no tax advantage to American investors like Romney. Romney, the campaign said, has paid all U.S. taxes on income derived from those investments.
