Monday, July 16, 2012

Republican "Strategist" Mary Matalin: There's No Tax Advantages to Having Money in Offshore Accounts

I honestly thought that Republican hack, Ed Gillespie's comment about Romney "retroactively retiring" from Bain was the most outlandish thing said today, but it seems another Republican hack (hackette?), Mary Matalin, wanted to take that title. Here she is trying to make the case that there's nothing wrong with Romney's tax returns:
He's released 2010, he'll be releasing 2011. There was full disclosure, there's no tax advantages to being offshore.
Reaaaaaaaaaaally now? No tax advantages to having offshore accounts? Then what pray tell, is the point of having such accounts to begin with?

As the Huffington Post reported the other day, offshore tax havens cost the federal government $100 billion every year:

As the CALPIRG report notes, many household-name corporations, including Goldman Sachs, General Electric, Exxon Mobil and Google, take advantage of offshore accounts, often saving billions in taxes in the process.
Of course, one presumes having the ability to save a person/corporation money is one reason why tax havens are referred to as tax havens!

1 comment:

  1. Republicans are sure that 50% of the American electorate are ignorant of the facts, and will passively buy into the loudest megaphone. They have quietly accepted ten years of fruitless wars, health care for the few, so why not offshore accounts are harmless