Obama's Offshore Team

Quote:

---

Originally Posted by MountainMan

Romney's money is in a blind trust since 2000 or 2004. He has NO say as to where his money is invested. Try again.

---

Sure he does, it's his money, and he chose to invest it in a blind trust.


If it was Al Gore saying that his money was invested in a blind trust (when he was running for President-nobody really cares about Gore's money,now), and that fund had investments in China, would you say "Al Gore has no say as to where his money is invested? Or if Obama had a 401k that had investments in Chinese businesses, would you slam him with it?

Quote:

---

Originally Posted by noonwitch

Sure he does, it's his money, and he chose to invest it in a blind trust.


If it was Al Gore saying that his money was invested in a blind trust (when he was running for President-nobody really cares about Gore's money,now), and that fund had investments in China, would you say "Al Gore has no say as to where his money is invested? Or if Obama had a 401k that had investments in Chinese businesses, would you slam him with it?

---

No I wouldn't actually. The whole purpose of a blind trust is to take the legal pitfalls of running your own finances. If a blind trust see's legal financial advantages to investing in Chinese firms, then so be it.

If you liberals were so damn interested in blind trusts, maybe you should look at the Kennedy family fortune which, to my recollection, the vast majority resides in a blind trust. Of course you won't, even though the Kennedy family fortune was made running liquor down from Canada during prohibition and probably has more invested in true tax shelters than Romney's.

Quote:

---

Originally Posted by m00

Well, apparently people do or they wouldn't have made the campaign ad. But my point is just that because something's legal doesn't automatically make it 'ok' for a president to do.

To be perfectly frank, I think the problem is this: I personally think the tax system is completely unfair due to loopholes which allow people with armies of lawyers to get out of paying taxes. This is why I liked Cain's tax plan, and also Paul's (which was also flat tax but gradually reduced to no income tax). GE, for example, pays $0 in taxes while the small business man pays the full amount. That's crap. Part of fixing our tax code means fixing this specific issue of loopholes and that reducing your tax liability is a valid means of income.

Because as long as Romney refuses to address this issue, people will assume that Romney loves tax loopholes, since basically that's how he made his money. In fact, this ties into the Bain issue because basically LBOs (what Bain does) are so profitable because of a very specific tax loophole with arbitrage. Tax loopholes by definition are perfectly legal, I just happen to not like them.

Anyway, just my opinion on this.

---

I think people need to grow up! A loophole isn't illegal. When something is exposed that is illegal, or the same standard of transparency is applied to the Marxist, I'll pay attention.

What is it about the words "blind trust" don't you understand? The idea and facts are that the individual has no control over where or how that money is invested and he eternally hopes that the investors controlling it have some idea what they are doing.