Mitt Romney Stashing millions of dollars in Cayman Islands 1-19-12

Mitt Romney has millions of dollars in investment funds set up in the Cayman Islands, a notorious Caribbean tax haven. But tax experts told 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.

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[chopin999]

he is worth 500million dollars.....

for the love of god, how much money does one person need????

[djgabrielpresents]

@chopin999 If Romney is hiding his taxes is for a major reason. He is probably worth 1 billion and cheated the IRS.

[Hodenkat]

And the right wants us to believe that closing loopholes and increasing rates won't help the deficit? Mitt Romney is just ONE PERSON! Imagine if ALL of the money hoarders were prevented from dodging their taxes! Somebody explain to me how that would NOT at least help balance the budget.

[USASecretHistory]

@djgabrielpresents I think that's why he doesn't want to release his taxes going back 14 years. His 2010 taxes are revealing but irrelevant, because he probably started paying what he was legally supposed to pay because he knew he would be running for president. We have to see his taxes all the way back to the 90's. That's what his father did when he ran in the 60's.

[USASecretHistory]

Great video djgabrielpresents. I even read in the New York Times that he payed a little over $20,000 for domestic work to 4 people. He reported that in his taxes. I wonder if those people are undocumented. Just wondering. Maybe they are. Maybe they're not.

[falcondriver100]

Gee, why didn't how much someone is worth ever come up when John Kerry was Running for President? Kerry is worth one hell of a lot more money than Romney!

Oh,,,,,,Liberal HYPOCRISY by our bought & paid for Democrat machine called "the American media"(Wink wink)

[lamrof]

$10,000 on a bet while so many of us are unemployed? An he says he was unemployed? :-) Jesus Christ

[NewtsNews]

Mitt has alot of issues coming into the race.

Watch the GOP debate tonight at 9pm ET on NBC.

Mitt and Newt are going to battle.

v v v v v Live GOP Candidate News

[superfisto]

Yes!

I like this scandal.

[MrHoppers002]

yeah geingreich is also under heat.