Posted by AzBlueMeanie:

Aha! Just as I suspected. The über-rich salt their money away in tax havens around the world like the Cayman Islands to hide the extent of their wealth and to avoid paying taxes on their income in the countries in which they live. How patriotic (sarcasm) in these difficult economic times. And sure 'nuf, Willard "Mittens" Romney is among the unpatriotic über-rich.

Bain Capital has 138 offshore tax haven accounts in the Cayman Islands that is nothing more than a post office box (P.O. Box 908) in the Cayman Islands. A dozen accounts belong to "Mittens" Romney.

ABC News Nightline reports Romney Parks Millions in Cayman Islands – ABC News:

Although it is not apparent on his financial disclosure form, Mitt Romney has millions of dollars of his personal wealth in investment funds set up in the Cayman Islands, a notorious Caribbean tax haven.

As the race for the Republican nomination heats up, Mitt Romney is finding it increasingly difficult to maintain a shroud of secrecy around the details about his vast personal wealth, including, as ABC News has discovered, his investment in funds located offshore and his ability to pay a lower tax rate.

"His personal finances are a poster child of what's wrong with the American tax system," said Jack Blum, a Washington lawyer who is an authority on tax enforcement and offshore banking.

* * *

tax experts tell ABC News there are other reasons Romney may not want the public viewing his returns. 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.

Posted by Michael Bryan

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Posted by AzBlueMeanie:

Willard "Mittens" Romney worked as a vulture capitalist for Bain Capital until 1999. He still receives income from Bain Capital on investments, which for hedge fund managers and guys like "Mittens" Romney is taxed as capital gains at a rate of 15%. The über-rich have a lower tax rate than you and I do, especially when you add in FICA payroll tax deductions on top of income tax liability.

"MIttens" claims to have earned around $374,000 in speaking fees, which he described as "not much money" (followed by evil laughter). This is more than six times the average middle-class household income of $50,000. Not much? Out of touch Richie Rich.

"Mittens" Romney says he may produce his income tax records in April, which most political commentators rightly observe will only be his 2011 taxes, and will be politically manipulated in an attempt to defuse this issue. Not so fast, "Mittens."

His father George Romney released 12 years worth of tax records when he ran for president in 1968. I want to see his tax records for the past 12 years, i.e., since he left Bain Capital — and he can release those records today, there is no justifiable excuse for delay.

Posted by AzBlueMeanie:

Arizona has more than its fair share of buffoons serving in the Arizona legislature. And then there is Jack Harper – arguably in a class of buffoonery all by himself. Jack is always good for a "crazy quote" in the media.

And then there is the ideological extremist bills he sponsors. Jack Harper has gotta go. Insider: Self-serving bills mark new legislative session:

Lawmakers have proposed more than 750 bills in this week-old 2012 legislative session. . . The biggest offender — or shall we say opportunist — seems to be Rep. Jack Harper (R-Surprise! I can't believe I get elected). Harper announced he will not run for re-election to the Legislature but has in the past voiced interest in a run for secretary of state. (Oh, hell no!)

Let's start with HB 2022 (sponsor Harper): Would eliminate the one-year moratorium on lobbying for former state lawmakers. HB 2022 passed the House Government Committee last Wednesday. Bill would overturn ban on Ariz. lawmaker lobbying:

The current ban has been on the books since the early 1990s in the wake of a legislative bribery scandal known as "AzScam," a 1991 sting in which several legislators were caught taking bribes from undercover officials posing as lobbyists for the gaming industry.

Republican Rep. Jack Harper of Surprise, who introduced the measure, said the ban infringes on the freedom of lawmakers to continue their careers.

Senior legislative staff members are able to return as lobbyists at the Legislature, he said, and lawmakers should be allowed to do the same.

"It's about ideology," he said. "It's about not limiting someone's economic liberty."

Harper said his goal is ideological, saying lawmakers should have the same options as staffers and anyone else.