[quote=EconProf]Actually, I think those are pretty good answers by Romney.
He is obviously rich and has worked hard and long to get there. He now has spread investments into many areas, has managers looking after those investments, and said investments include foreign ones. Given likely world growth trends by area, it is not surprising he has assets in, say, BRIC countries, maybe depressed european countries, etc. He’d be dumb to not diversify his investments and hire smart people to manage them, and I’d rather not have a dumb guy as president. I am also OK that he now hires others to manage his financial affairs and doesn’t know the details of everything–spend time instead on getting ready to be president, should that happen.[/quote]
The vast majority of working Americans have worked harder and longer than Mitt Romney. He was born into wealth and power, and would likely be in a very different place today if not for his family influence, money, and connections.
BTW, I’m not just talking about investing in foreign companies; I’m talking about the fact that he has accounts in well-known tax havens.
Do you think it’s necessary to have accounts in the Cayman Islands, Switzerland, etc. in order to invest in BRIC countries?
It stinks of tax evasion (legal or not, because tax laws are written by and for the wealthy)…and I’ll bet he’d be the first one to cut salaries of people who REALLY work (public workers and others), and are barely making ends meet, in order to maintain his unjustifiably low tax rates.
