Romney admits big business knows, ...".how to get through the tax code.."

[Stuart G]

http://talkingpointsmemo.com/archives/2012/08/mitts_latest_revealing_moment_--_non-birther_editi.php?ref=fpblg


read this short article where Romney talks about putting assents overseas...


“We’ve got to make it easier for small businesses,” Romney said. “Big business is doing fine in many places — they get the loans they need, they can deal with all the regulation.”

Many took notice because Romney used the same phrasing President Obama did several weeks ago, when Republicans jumped all over him for saying the private sector is doing fine. But the revealing bit came afterwards.

“They know how to find ways to get through the tax code, save money by putting various things in the places where there are low tax havens around the world for their businesses,” Romney added. “But small business is getting crushed.”

The irony here, obviously, is that Romney’s acknowledging that big businesses have succeeded financially, despite the bad economy, because they use the same sort of tax avoidance strategies that have made his own tax returns such a political liability. But his tax plan would actually be a big boon to large, incumbent businesses. Romney’s proposing to transition the country to a territorial tax system, under which companies would pay no U.S. taxes on foreign earnings.

As liberal economist Dean Baker explains, that would only end tax havening in as much as big businesses wouldn’t need havens to avoid the IRS — and it would create an incentive for them to set up shop in any cheap, low-tax countries that would welcome them.
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It looks like Romney in this speech is justifying exactly what he did: take extreme advantage of the tax code to evade almost all
taxes...like GE.

[Angry Dragon]

1. Like Halliburton moving to Dubai

[PDJane]

2. Why in hell would anyone vote for a man like this?

A man who hates government so much he isn't willing to pay for the benefits that accrue from government, a man who wants to strip the government of funding, grab as much as he can, and.......what??? Move offshore?

Short-term thinking, and it's really destructive.

[qwlauren35]

3. Talk about a speech that needs to be heard by the American people.