More bullshit from the flip-flopper

By Comrade Misfit To wit: 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 [...]

By Comrade Misfit

To wit:

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.”

Of course, we just have to take his word for it, because he won’t release his tax returns to prove it.

People keep money in offshore bank accounts for several reasons. Chief among them are these two: to hide the money and not to pay taxes on it. But if you believe Romney, he was keeping his money there because maybe when he went on vacation he wanted to be able to use their ATMs without paying extra fees. So it was worth it to Rmoney to have fifty million or so sitting in the Grand Caymans and Switzerland.

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.)