if you lie to your accountant and your accountant tells you if you have an offshore account and you said no. your defense would be i told my accountant, i don t know how he got this wrong. the government has to prove in order to prove that it s a felony has to prove that you knew that you had an obligation to report. but certainly enough people thought they didn t have the defense available to them that they took a huge advantage of amnesty program. it s been a real boom both to people who felt they dependent have that defense available to them, but also to people who thought that, you know, i may or may not have that defense available to me, but let s play it safe. let s get it if you say well, it was a year or ten years or whatever, and you file for the amnesty and you get the amnesty, you then have to redo every one of those tax returns that was wrong, correct? go back to 2003. so the voluntary disclosure program that the irs ran required taxpayers who didn t
it has everything to do with what his father did. his father s success. his father built the success and mitt is now part of that legacy and carrying it on and expanded that success. that s the entrepreneurial spirit this country. nothing do with what you put on your paper. what can mitt romney do to connect with people to say you can be successfully like me. very distinctly look, there are flaws in the system that we all know about and have been exploited in the past by others, for good, for bad or whatever. part of what i want to be and do as president is fix that. i m not going to denigrate success. i m not going to demonize your profit, say you re a bad person because you make money. if you fix that can be you successful like him? yes, you can. not as much. i disagree. i think you can. you re tying everything because you have an offshore account, the law allows you to have if that s what you want to have. nothing wrong with putting your money some place else. ther
determine where the investments are. the reason he keeps his money offshore is it s in a blind trust. it s not his decision. which might pass for an answer if he wasn t this guy. the blind trust is an age old ruse, if you will, which is to say you can always tell the blind trust what it can and cannot do. you give a blind trust rules. that s what he said about blind trusts when he was running for senate against ted kennedy. how about a no offshore accounts rule? but there s more to his answer to the national review about what he keeps money stashes in offshore accounts. he was not relying exclusively on the excuse he once dismissed as a ruse. the so-called offshore account in the cayman islands is established by a u.s. firm to allow foreign investors to invest in u.s. enterprises and not be suggest to taxes outside of their own jurisdiction. okay, so this account of his in the caymans is the good kind of thing. a good kind of offshore account
okay, so this account of his in the caymans is the good kind of thing. a good kind of offshore account because it s designed to help foreign people invest in the u.s. and avoid paying u.s. taxes when they do it. great. so why is his money there? come on, are you foreign? quote, sometimes a foreign entity is formed to allow foreign investors to invest in the united states, which may will be the case with the entities that democrats are describing as foreign accounts. so his answer to this is what? that he s a foreign investor in the united states? his own explanation is that this type of account is a good thing for america. it s set up so foreigners can put their money in that account and invest it in america while avoided u.s. taxes. that s the state of his current explanation. that s as far as he has gotten to explain why he might hypothetically have an offshore account. that s how foreigners invest in america.
because it s designed to help foreign people invest in the u.s. and avoid paying u.s. taxes when they do it. great. so why is his money there? come on, are you foreign? quote, sometimes a foreign entity is formed to allow foreign investors to invest in the united states, which may will be the case with the entities that democrats are describing as foreign accounts. so his answer to this is what? that he s a foreign investor in the united states? his own explanation is that this type of account is a good thing for america. it s set up so foreigners can put their money in that account and invest it in america while avoided u.s. taxes. that s the state of his current explanation. that s as far as he has gotten to explain why he might hypothetically have an offshore account. that s how foreigners invest in america.