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We are back on politics nation with a game of name that instrument. can you guess what it is? if you guessed steel drums, you are right. the music of the islands. the music of places like bermuda. what a beautiful island. it is known for its breathtaking white sand beaches and bermuda shorts. lots of bermuda shorts. in a variety of colors. who hasn t heard of the bermuda triangle? movies have been made about the ships and planes that mysterious livan i shalled there over the years. turns out that there s something else that s mysterious livan i shalling. the details surrounding aber maude a company listed under ....
It is all very mysterious now. there s a lot of smoke and mitt romney says there were no taxes avoided, no illegal use of this at all. and you know, probably that s true. he has been a very careful guy his whole life. there just isn t way to know as long as he doesn t release any tax records and release any further information on it. you know, but but, rebecca, i think what s not careful, if you know you are running for president, you have been dreaming and of this for years, running for years, you own a company in bermuda. and then you won t even answer questions are be transparent. there s something strange. the company is only worth $10,000. i mean the ap reports of financial snapshot of sankaty in romney s 2010 tax returns showed the holding with almost no value at that time for $10,000 in both assets and liabilities. so why won t be he would he be so scared about releasing ....
Behalf of bain capital. so even if he and his partners at bain aren t using those entities to evade tax, they make it really easy for their investors to evade tax. that is facilitating tax evasion and find it shocking he thinks that s okay. so the reason that you go to the cayman islands in bermuda and the reason that some of the clients if not bain itself is to deal with tax havens and avoid taxes here in the united states where you are running for president. right. here in the united states or around the world. the funds probably have investors from all over the world from the united kingdom or france or the united states. and that cayman islands entity doesn t go through the filing requirements anywhere. it doesn t have to tell any tax authority anywhere in the world who its investors are or how much income they got from that investment. cheat on your taxes and it makes it really easy. benji, in the debate this ....
It was unknown for about a decade he even still owned this thing. so it is difficult to see how things aren t heading the same way right now. democrats really succeeded in highlighting a lot of the questions and issues that i think a lot ichd analysts confirm are legitimate and serious and probably merit quite a bit more documentation for mitt romney. rebecca, there is clearly the investments and business done by bain under willard mitt romney in the cayman islands and bermuda. what is the cayman islands sandwich? well, it is very sophisticated tax planning technique that involves avoiding withholding taxes around the world and avoiding reporting requirements around the world by using cayman islands entities in between all of the investments that you are doing. thank you for your time this ....
Later, it was transferred into a blind trust owned by romney s wife one day before he was sworn in as governor. sure doesn t look like romney doesn t know anything about that could. but the fact remains that he owns a bermuda company. did you ever think we would have a presidential candidate who owns a bermuda company? well, we do. only he doesn t know anything about it. sort of seeks are were you is weird. it is exactly what vice president biden was talking about today when he hit mr. romney for not releasing his tax returns. when his father was a candidate for president in 1968, his father released 12 years of tax returns because he said, and i quote, one year could be a fluke. perhaps done for show, end of quote. that was his father. house son has released only one ....