Mitt Romney said Sunday that he gained no tax benefits by investing part of his fortune in funds based in the Cayman Islands and other overseas jurisdictions, or using a Swiss bank account, saying President Obama’s campaign was unfairly accusing him of “some kind of unsavory action.”
“There was no reduction — not one dollar reduction in taxes — by virtue of having an account in Switzerland or a Cayman Islands investment,” the Republican presidential candidate told Chris Wallace in a recorded interview broadcast on “Fox News Sunday.” “The dollars of taxes remained exactly the same. There was no tax savings at all.”
Note also that the article repeats the line about Mittens retiring from Bain in 1999, even though he was signing SEC documents proclaiming that he was the CEO and sole shareholder of Bain Capital into 2002.
At worst, Romney has been lying about what he did at Bain.
At best, Romney had a “no-show” job, where they paid him at least $100,000 a year to act as a figurehead. Which may or may not have been a felony, considering that he held himself out to the Feds as being the HMFIC.
Thing is, if you have a no-show job in government, you go to jail. In business, you get to run for office.
(Cross-posted at Just an Earth-Bound Misfit, I.)