114) Has a double standard for investing in China and the Cayman Islands
Although Obama criticized Mitt Romney for having investments in China and the Cayman Islands, Obama himself has investments in both of those places.
People forget that tax havens are only tax havens if you keep their existence secret from the IRS. If you don’t, they are just funds that happen to be located overseas.
Under pressure from the powerful and ever-more-greedy US government, bank secrecy has pretty much gone away. I’ve heard that many overseas banks refuse to open accounts for US citizens because it’s not worth the potential hassle.
Yet another reason for a consumption based tax—who cares where you stash your money if the taxes are assessed when you spend it?
The tax code is nothing but a long list of favors given to special interest groups in exchange for their votes. It is fully corrupt and should be eliminated, immediately.
Ugland House is bad unless youre a rich leftist
Could it be that tax havens are okay, but only if you support big government?
I'm pretty sure Romney supports Big Government, so that's not it.