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"From a large-scale perspective, we have a major-party candidate for the U.S. presidency, Mitt Romney, who reportedly has made ample use of offshore accounts. From a small-scale perspective, we have the story of American CEO Ted Rollins, the head of Charlotte-based Campus Crest Communities and a member of the family behind Orkin Pest Control, one of the wealthiest clans in the country."
This shows how problematic our tax laws are. People are inclined to keep money outside of the country. The US just isn't competitive with other nations.
This shows how problematic our tax laws are. People are inclined to keep money outside of the country. The US just isn't competitive with other nations.
Are you implying that these people are hurting for money??
How unpatriotic can you be?? And now he wants to be president??
Well OP, show us the link with those names, especially Romney's name on it.
Odds are that Romney isn't even in the realm of those global super elite.
I read another article that said most are from third world countries, you know, where governments just take the money.
As posted above, most is reported to the IRS as is the case with Romney.
Secondly, if we want that money to be here in the US and is it kept overseas for tax purposes, what sense does it make to increase the tax burden on that money while complaining that it isn't staying home?
This shows how problematic our tax laws are. People are inclined to keep money outside of the country. The US just isn't competitive with other nations.
This is the problem we are facing. The money is out flowing from US to other country. AND worst, the people think by continue pushing money out is the solution to our problem.
Rich people does not has a problem to move to other country. We are seeing high network people moving from high taxed states to lower taxed states. Soon, the really wealthy people will out of this country. The jobs will be gone because they take their money and companies with them. Canada would love Microsoft, Google, Apple, etc to relocate. So as China, India.
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