Wednesday, September 26, 2012

possible October surprise Obama may benefit from!!!!!!!!!!

     Mitt Romney all but officially secured the nomination for President, the actual President has been subtly and sometimes not so subtly pushing forward on the issue of Mitt Romney's tax returns. It has been the defining issue of this campaign, it has dogged Romney all year because he refuses to release anything prior to 2010. Now we are seeing the media pick up on the very real possibility that Mitt Romney could be hiding participation in the Tax Credit Amnesty program set up by the Federal Government in 2009. Something the blogosphere has speculated about for months and I think Team Obama may know about for certain.
     In 2007 a Whistle Blower informs the Federal Government that he has a list of 20,000 UBS clients who are Americans using Swiss tax shelters. Is Mittens on this list??? and does Obama and his team no about it???
       The former UBS employee turned whistle-blower exposed the previously hidden world of offshore tax shelters, which cheats the Treasury out of about $100 billion a year. Thanks to his insider information, UBS was fined $780 million, and it promised to "exit entirely" from the U.S. tax-shelter business and to provide the names of thousands of American tax dodgers, from which hundreds of millions of dollars still might be collected. It also led to new tax treaties with the Swiss that should provide unprecedented tax information in civil cases and better access to such data in criminal cases.
       "I have no reason to believe that we would have had any other means to have disclosed what was going on but for an insider in that scheme providing detailed information, which Mr. Birkenfeld did." Kevin Downing, a senior Justice Department tax trial lawyer
Read: Calling all whistleblowers.

     One client of UBS was apparently Ann Romney, which is by itself enough to reasonably conclude that Mitt Romney also had assets with UBS, but doesn't bridge the gap between simply being law abiding clients and actually evading taxes, let alone seeking amnesty.

    This anodyne coverage in a Los Angeles Times article is typical:

Some investments listed in Mitt and Ann Romney’s 2010 tax returns — including a now-closed Swiss bank account and other funds located overseas — were not explicitly disclosed in the personal financial statement the Republican presidential hopeful filed in August as part of his White House bid.
The Romney campaign described the discrepancies as “trivial” but acknowledged Thursday that it was reviewing how the investments were reported and would make “some minor technical amendments” to Romney’s financial disclosure that would not alter the overall picture….
The campaign has emphasized that Romney has paid all required U.S. taxes on his foreign funds….
Among the assets omitted is a Swiss bank account in Ann Romney’s blind trust that held $3 million until it closed in 2010. The account was listed on a financial disclosure Romney filed in 2007, but it was mistakenly named as an asset held by the couple, not as part of Ann Romney’s trust. A campaign spokeswoman said Thursday that Romney will file amendments to both his 2007 and 2011 financial disclosures to correctly identify the bank account.



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