MITT'S "BLOCKERS"

ACTUALLY....... It was make public, a few day ago, that our well known presumptive Republican candidate for President, Governor Mitt Romney, has made use of some secret techniques of its Cayman Islands based funds to avoid taxes.  This is according to Bain Capital's private audit and financial records that were made public on Gawker website.  The statements made use of "blocker" entities, which are useful to help retirement and nonprofit entities avoid taxes.  Financial statements for another fund states that it "intends to conduct its operations so it will....not be subject to United States Federal income or withholding tax. These details are on the statements of two funds in which Romney still holds in a large investment, "according to the financial disclosure statements he filed when he announced his bid for president".

I truly believe that the Bain documents on the Gawker website could ignite a debate about Romnney's role at the company, and "specifically about Bain's decision to domicile many of its funds in offshore locations known as tax havens". Critics say that Romney's investments in these funds are an example of how wealthy Americans can hide their investments to limit the amount they pay in taxes.

Romney's tax returns have been at center stage in his campaign.  A press conference that was to focus on his medicare plan quickly turned to Romney's tax returns, and whether he has ever paid less than 13.9%.  He continues to ignore this issue and has called the questions "small-minded".

He continues to say that he will not release more than two years of returns.  These newly released documents have once again brought up the more technical questions about Romneys investments  -  the use of so-called "blocker" entities.  "The 'blocker' is a paper that serves as a buffer between the investor and the fund holding the investments.  That means the investment income can be counted as a dividend and in some cases avoid income tax".

It's interesting that in the financials for the Bain Capital Asia Fund, the audit describes the use of "blocker corporations" to hold more than $92 million in contributions from the fund.  "There have been financial experts that have pointed to the 'blockers' to explain how Rommey has been able to amass between $20.7 million and $101.6 million in a tax free IRA, many times more than the typical amount an IRA can hold.   Romney has not responded to questions about his IRA.
  

THE ONE THING HE CAN'T "BLOCK" IS PRESIDENT OBAMA'S RE-ELECTION

HERE WE GO AGAIN - MITTS TAX RETURNS

ACTUALLY..... To ask Mitt Romney (for the umpteenth time) to release his tax returns is not an incidental thing.  He has always believed that he is better than anyone else, and can march to his own drummer.  He has always played by his own rules and says he will continue to do so. He is only adding fuel to the fire with his refusal.  What he should face is whether the voters will trust him and his own rules. 

He has already painted such a picture of distrust and dishonesty that even some of his longtime supporters have called on him to disclose.  They have painted him as an "untrustworthy, tax-dodging plutocrat".  Romney says he has never paid less than a 13% rate in income taxes over the past 10 years.  However, he won't make the documents public, and won't say why.  That sounds to me like he is hiding something very treacherous and specific.

There have been some articles in business publications that are suggesting that when the stock market crashed in 2008, Romney lost enough on paper to declare a loss and pay no taxes.  He has created all kinds of ideas about illegal accounting tricks and strange tax shelters.  Senate Majority Leader Harry Reid is claiming, albeit without definite proof, that Romney hasn't paid taxes in 10 years.

It's a well known fact that Romney is rich (he's certainly said that enough).  It's well documented  that he owns several houses, luxury cars and boats and has amassed a $250,000 fortune.  He has said, in one of his documents that he has already released, that he has sheltered a lot of his money from taxes in a Swiss bank account, a Cayman Islands account, and an offshore investment in a Bermuda shell company.

If this man is not hiding something that is illegal, dishonest or criminal, then he needs to come forward and respond to whatever the consequences may be. For a presumptive presidential nominee, it seems to me that he is being deceitful, unfair and insincere.   And, you know what - he doesn't give a damn.

WATCH OUT MITT, YOUR SUPERIORITY COULD GET YOU IN TROUBLE!!

SHHH - IT'S A SECRET

ACTUALLY......Mitt Romneys affluence has once again surfaced, and I might add that it's not really complimentary. He has this affinity for sending his dollars to other countries.  He is a very secretive (or perhaps sneaky) man and it's believed he's not playing by the rules of transparency and disclosure.

There are recent reports regarding his offshore accounts.  Romney keeps millions of his income in the Cayman Islands, Switzerland, Ireland , Luxembourg and has invested more than $1 million in China.  I'm sure I recently read that if he is elected President, one of his priorities "on day one" is to start getting tough on China.  Humm?? He also owned a shell corporation in Bermuda.   An interesting fact about Bermuda - he transferred ownership of his secretive corporation to a blind trust in his wifes name.  Maybe this was to avoid disclosure.  Did he send his money offshore to keep from paying taxes?  One wonders just what amount of tax he would pay if his money was invested here in the U.S. instead of foreign tax havens.  It's not hard to believe that the reason he won't release his tax returns is because he has something to hide.  Americans have every right to know how he made his money, as well as what sort of taxes he pays. It's the right thing to do!

The American people don't know what he really has because he thinks he's too important to release his tax returns.  His golden parachute with Bain Capital still keeps him associated with the private-equity firm that he founded. Although he left the firm in 1999 he continues to receives large payments from them.  He revealed that in early June he received more than $2 million from Bain.

His campaign says Romney hasn't broken any laws - legally that is.  But is not breaking a law 'technically' good enough for someone who is running for President of the U.S.?  Romney is inauthentic, unprincipled, and has difficulty in telling the truth.  He's the picture of greed in a bad economy.

The Mormon Church says "do the right thing without delay regardless of the cost"