Do you have an overseas account or foreign holdings?

[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.

[wbcoleman]

I own some foreign stocks but they are held in domestic accounts.  But, honestly, what do you know about JFK's finances?  Or LBJ's?

Barbour Says Mitt Romney Should Release More Tax Returns
By Igor Volsky on Jul 9, 2012

I have no objection to Romney releasing more information.  But, kentay, why won't you simply say that you personally know no more about his finances than you do about JFK's or about LBJ's?

[kentay]

I own some foreign stocks but they are held in domestic accounts.  But, honestly, what do you know about JFK's finances?  Or LBJ's?

Barbour Says Mitt Romney Should Release More Tax Returns
By Igor Volsky on Jul 9, 2012

I have no objection to Romney releasing more information.  But, kentay, why won't you simply say that you personally know no more about his finances than you do about JFK's or about LBJ's?

WBC, why do you always try to distract the thread? This thread is not about JFK or LBJ its about Romney and his overseas account or foreign holdings. If you want to discuss LBJ and JFK,  them make another thread. kentay 

[wbcoleman]

I own some foreign stocks but they are held in domestic accounts.  But, honestly, what do you know about JFK's finances?  Or LBJ's?

Barbour Says Mitt Romney Should Release More Tax Returns
By Igor Volsky on Jul 9, 2012

I have no objection to Romney releasing more information.  But, kentay, why won't you simply say that you personally know no more about his finances than you do about JFK's or about LBJ's?

WBC, why do you always try to distract the thread? This thread is not about JFK or LBJ its about Romney and his overseas account or foreign holdings. If you want to discuss LBJ and JFK,  them make another thread. kentay 

It is perfectly relevant to point out that Romney's finances are less opaque, and probably more honest, than those of Democrats JFK and LBJ.

[clistensprechen]

The people who repeatedly claim that Dubya ain't running wanna run against JFK and LBJ put together. Dubya's still alive and the other two aren't. Go figure. :dunno:

[wbcoleman]

The people who repeatedly claim that Dubya ain't running wanna run against JFK and LBJ put together. Dubya's still alive and the other two aren't. Go figure. :dunno:

I'm just responding to kentay's calumnies against Romney's personal finances.  Mitt isn't trying to RUN against JFK or LBJ.

[RWE]

How did Romney IRA grow to 100 million when the max you can put in any one year is 6 thousand? kentay

   The real question is "How is Romney going to take his minimum required distributions without paying tax on it." Lets see,...he can't. Whatever he takes out will add to his taxable income just like any other taxpayer. And seeing as how he has such a large IRA his taxable income will be huge. For example. At age 70 his RMD will be $3.6 Million. he'll have to add that sum to whatever other income he has and pay taxes on it. Even if he dies and his children inherit the IRA they still have to take the distribution based on Romney's age and pay taxes on it.
   My mom had an IRA. She worked at a hospital in the cafeteria. Her IRA was invested in Mutual Funds. The Mutual Fund investments included multinational corporations with foreign "offshore" "overseas" assets. Like oil companies, banks, maybe even Coca Cola or GE. I'll bet you that every Union pension plan in the country has similar "offshore" "overseas" investments.
   I inherited my mom's IRA, so for a time I had "foreign holdings". But I've since converted to a precious metals IRA.

[clistensprechen]

The people who repeatedly claim that Dubya ain't running wanna run against JFK and LBJ put together. Dubya's still alive and the other two aren't. Go figure. :dunno:

I'm just responding to kentay's calumnies against Romney's personal finances.  Mitt isn't trying to RUN against JFK or LBJ.

Then there's no reason whatsoever to bring up JFK or LBJ, while there is far more pertinent reason to bring up Dubya. When you bring up JFK or LBJ or, quite frankly, ANY past president, Dubya becomes fair game (except that, as the president just previous, he's fair game regardless). You relinquish any protestations about anybody bringing up Dubya.

[wbcoleman]

Do you have a overseas account? kenaty

Guess who else does!



Dem. Chair Invested in Swiss Banks, Foreign Drug Companies, and the State Bank of IndiaBY DANIEL HALPER

http://www.weeklystandard.com/blogs/dem-chair-invested-swiss-banks-foreign-drug-companies-and-state-bank-india_648350.html

[clistensprechen]

I repeat myself when I say both parties are corrupt. The duopoly was and still is a threat to America, and Nader was right. Anybody who is outraged NOW when Nader pointed all this out years ago is more than a day late and a dollar short. They're just not playing with a full deck, either.

[wbcoleman]

I repeat myself when I say both parties are corrupt. The duopoly was and still is a threat to America, and Nader was right. Anybody who is outraged NOW when Nader pointed all this out years ago is more than a day late and a dollar short. They're just not playing with a full deck, either.

Ohboyohboyohboyohboyohboyohboy...............



July 11, 2012
Nancy Pelosi made between $1-5 million on Asian investments in 2011
By Matt K. Lewis

http://dailycaller.com/2012/07/11/nancy-pelosi-made-between-1-5-million-on-asian-investments-in-2011/

[Woody]

It is such a shame that two leading dems will no longer be able to criticize others for foreign investments and not releasing tax returns.  I think ALL of us should stand tall as Americans and posters and demand full disclosure from ALL politicians.    If not stop complaining.    :woot:

[wbcoleman]

It is such a shame that two leading dems will no longer be able to criticize others for foreign investments and not releasing tax returns.  I think ALL of us should stand tall as Americans and posters and demand full disclosure from ALL politicians.    If not stop complaining.    :woot:

hi, woody!

At the moment we are overweighted conservative and you aren't going to improve that.  We all need to try and recruit liberals and leftists!

[Ted S]

Welcome Woody! I don't think I know you at all but it's good to have a new face around here.

[clistensprechen]

It is such a shame that two leading dems will no longer be able to criticize others for foreign investments and not releasing tax returns.  I think ALL of us should stand tall as Americans and posters and demand full disclosure from ALL politicians.    If not stop complaining.    :woot:

QFT. Veritas.