Paul Ryan on offshore accounts: They're the 'place you hide your money'
http://www.examiner.com/article/paul-ryan-on-offshore-accounts-they-re-the-place-you-hide-your-money
One of the biggest criticisms of Mitt Romney is the lack of clarity with his income taxes. Last week, Romney released his 2011 tax returns, his second full year of releases. While conservatives have defended him, many are pushing back.
In an attempt to avoid the news cycle, the Romney campaign released his 2011 tax returns late Friday afternoon. The returns showed Romney paying only 14.1% in taxes, $1.9 million on $13.69 million in income in 2011, with the majority of it coming from investments. What is not known is how much money Romney has outside the United States. Earlier this year, Vanity Fair and other sources released reports that Romney was stashing millions of dollars in offshore accounts, including accounts in Bermuda, Switzerland and the Cayman Islands.
Republicans have come to the defense of Mitt Romney, but according to a video posted by Buzz Feed, Romney's own running mate has spoken out against the idea of offshore accounts.
Speaking to the Chamber of Commerce in 2010, Paul Ryan called the Cayman Islands "the place to hide your money."
"We don't want to have a situation where we're penalizing businesses for keeping their money, their capital and their headquarters and their manufacturing facilities in America. So then rather than having Ireland and the Cayman islands be the haven for capital formation, the place you hide your money, why don't we make it America?"
With a month and half left until the election and just weeks away from the first debate, the Romney campaign needs a major turn around. Multiple polls show Mitt Romney trailing President Obama in many areas, including swing states, Latinos, women and on the national stage. Romney's attempt to distract the American people from his tax returns just puts the spotlight back on them, something Romney desperately is trying to avoid.
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