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Presidential Hopeful Mitt Romney Linked To Offshore Tax Havens

May 29th, 2012

 

Republican presidential candidate, Mitt Romney, is unwilling to disclose his tax returns to the public but maintains that he has paid taxes on all incomes.  His company, Bain Capital, established off-shore accounts which attract more business from those attempting to avoid U.S. taxes.  The Romney campaign maintains that they may someday release his tax returns but that he is not willing to do so now.

Cases like this exemplify how tax havens are becoming commonplace in out current global financial systems.  Large profits from U.S. based institutions are not ever seen by the U.S. taxing system because of higher comparative rates to those of tax haven countries.

 

Written by Sam McWilliams

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