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Thursday, January 19, 2012

The Cayman Islands

I have been to the Cayman Islands. It is a lovely place. The waters are crystal clear, the afternoon rains are beautifully refreshing and Seven Mile Beach is one of the nicest on Earth. We vacationed there about 20 years ago. For those in America who have benefited financially from the capitalist engine, much of the wealth is subject to tax. Due to the bipartisan effort over the years to protect wealth and provide tax loopholes in our tax code, parking money offshore to avoid tax is a commonplace thing to do. I do not argue against taking legal advantages of loopholes as long as they exist. The only reason to send money to Cayman banks is because of the preferential treatment and protection of these assets. Kudos to those who have such good fortune. BUT...the Romney campaign, knowing that such financial elitism may not sit well in a national campaign, is actually trying to say that this money was not sent there to avoid taxation. Give me a freakin break. What else will the charlatan in chief tell us? Where are you Americans for reason and truth?

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