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Mitt Romney and The Cayman Islands

Why do the rich set up Nevada Corporations like Madonna, Oprah Winfrey, Mel Gibson, Chuck Norris, Nicolas Cage, Robert Wagner, Paul Simon, Bono, the late Michael Jackson and Steve Jobs, certainly Bill Gates and many thousands more. Nevada is known as "thee place" for asset protection and where to wire your funds into to and from your offshore investment accounts. Just outside my window is an old brown hospital building and it is owned by Amazon.com but guess what? Even though they operate in Washington state they are a Nevada Corporation.

Add to this....offshore corporations by the same people above including Donald Trump, Arnold Schwarzenegger, Bruce Willis and many famous others and now in the news Mitt Romney.

Below is a very interesting article on Mitt Romney...who follows all the tax laws!

Why the Cayman Islands and not Bank of America....you guessed it. Fear of losing his money in a bank collapse and more importantly he earns his money in high yielding investment accounts....so what else is new about politicians. They're all doing it and yet the average person is made to look like they're sleazy and illegally hiding money.

So I ask the question, "why is it that when the rich move their funds offshore it's called good financial planning but when we do it they say were hiding and evading our assets?".

Understand, that Cayman Island brokers can buy investments anywhere in the world, sell those investments without income taxes, then report that income to their clients offshore corporations, of which the client declares the income using their Nevada corporations here in the United States....hence no double taxation while achieving asset protection, complete financial privacy and out of the reach of the federal court system using the Cayman Brokers as their offshore corporation's nominee....how clever is that?

In addition, we now all know that much higher yielding investments can be obtained by going offshore!

Why do we now know about Mitt's money...because he is running for politics and has to publically report his financial affairs. Notice however the article, "reportedly total nearly" and "valued between $5 and $25 million" what they're saying is "we are guessing its total nearly". In other words they don't really know and "between 5-25 million" that's a pretty big spread to be guessing what his other investment is valued at.

I think you get the point.

Mitt Romney Has Millions in Cayman Islands

It couldn't get much better for those, Democrats and Republicans alike, who want Mitt Romney to release more details on his personal wealth. ABC News is reporting that the candidate has millions shored up in investment funds in the tax haven of the Cayman Islands. A spokesperson for the Bain Capital co-founder's campaign said that Romney who recently reassured voters in New Hampshire that he follows all the tax laws, would pay the same amount in taxes no matter where the funds are based. Romney's Cayman Islands investments reportedly total nearly $8 million spread over as many as 12 funds as well as another investment valued at between $5 million and $25 million. The news comes as Newt Gingrich has had a sudden surge in a South Carolina poll, cutting Romney's lead to only 10 percent of likely voters.

Romney Parks Millions in Cayman Islands - Yahoo! News
So wishing you the best in safety,

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