Comments about ‘Assets offshore raise Mitt Romney wealth questions’

Two major issues raised by this article and subsequent posts are:

1) Disclosure - Even if Mitt followed the letter of the law in disclosing offshore investments, he has not followed the spirit of disclosure laws (which exist to determine/discourage/prevent public officeholders' conflicts of interest). For all we know, Mitt could be partnering in unreported offshore investments with anybody and making economic bets that America will fail. This does not seem to bother people on this site.

2) Ill begotten wealth - Has Mitt become rich by using special rules not available to most Americans? In this respect, Taxman has correctly characterized the carried interest rule (others have not), which is only available to a few wealthy people who lobbied for it. Many people earn performance rewards as part of their overall compensation. Mutual fund managers get bonuses depending on results. Salespeople earn much of their income based on performance. The U.S. government isn’t offering them capital gains rates on their performance-based income. So why are Mitt Romney and his associates different?

Stating you don't care if he's wealthy (mischaracterization), or pointing a finger at Obama (misdirection) do not address these important issues.

To cpafred 8:34 a.m. July 6, 2012

Excellent analysis. You "nailed" the issues -- clearly and accurately defining them and their importance, and cutting through the obfuscation and attempts to hide and cloud those issues. Good job.

"The next time you use your cell phone, surf the internet or watch your flat screen television with its 1080p picture just remember that if it were not for some wealthy person investing in an idea that would make them money, the inventions that we take for granted today would not exist"

zoar63, if it were not for the dedicated brilliant thinkers like Philo Farnsworth who was raised poor on a farm in Utah and died with liens on his business none of the things you talk about would exist no matter how much money was thrown at them. It was the mind that ultimately created these things.

Money does play a role, obviously, but I choose to give the most credit to the minds of the people behind the inventions. I don't choose to worship money but to respect intelligence.

I have no problem with Mitt Romeny having a lot of money.

BUT

Where it becomes a problem,
is when he is running to be the leader of this nation,
while all of that money is invested and sits in ANOTHER nation.

I screams,
YOU invest YOUR money in America,
I'll invest mine somewhere else.
But elect me, I love America.

Hypocrite.

Old Proverb --

Put your money where your mouth is.

Mitt Romney puts his money in Foreign investments - not America.

Which is fine for a rich man,
NOT someone wanting to be the supreme Leader of America, running on a campaign about needing to invest in America.

Hypocrite.

There is nothing wrong with being rich. However, if you are cheating the system, and avoiding taxes because of your income bracket...that is not the sign of a good leader. If you work the system (when you can afford not to), then that is cheating the American people. Who is going to have to cover for these mega rich people? It's you and me, and everyone in the middle class that carries the burden.