Message #378

[wbcoleman]

Two believeable, related explanations for why an IRA this size may be possible.   One from the WSJ, the other from TALKING POINTS MEMO:

http://online.wsj.com/article/SB10001424052970204468004577168972507188592.html

http://tpmdc.talkingpointsmemo.com/2012/07/romney-offshore-ira-tax-avoidance.php

What if every American did what Romney is doing?  Dose an American have any obligation to his/her country for living in a country with free schooling, good highways, water,  fire and police dept that keep you safe while you make this money and everyone was tax for? Can you imagine what if the greatest generation had been as big of cowards when fighting for our country and sent the money overseas that they made here like the  greedy selfish generation of Republican and even some Democrats do today.  When I grew up I felt and was raised by my parents to have an obligation to and for  my country, something that is missing today because we have become so greedy and selfish and feel we owe their country nothing.  kentay   

You mean, what if every American obeys the Internal Revenue Code, as Romney did?  Life would be good!

Ummm, the Internal Revenue Code doesn't even apply in the Caymans or in Switzerland. It looks like Romney has more faith in the strength of Cayman and Swiss currency than he has in the U.S. Dollar. The only jobs he's created with THAT money is Swiss bank jobs and Cayman bank jobs.

The Internal Revenue Code applies worldwide for U.S. citizens.