Jan 20 2012

Romney’s spox says Cayman isn’t a tax haven. If she believes it, I have a bridge to sell her

Posted by: Nick Shaxson in: Thoughts

From USA today, quoting Andrea Saul, campaign spokeswoman for US presidential candidate Mitt Romney:

“The Romneys’ investments in funds established in the Cayman Islands are taxed in the very same way they would be if those funds were established in the United States. These are not tax havens and it is false to say so.”

My emphasis added. This is, of course, parroting the official line from the Cayman Islands. And Romney’s camp is in good company. Here are a couple of others in this vein:

If you look properly, you will see that all the tax havens have disappeared! There aren’t any, anywhere!

And if you believe that, then I have a magnificent, sturdy bridge from Miami to George Town that I’d like to sell you.

They all deny it, because the term ‘tax haven’ conjures up all sorts of really bad images. And rightly so. Read Treasure Islands, and you’ll be left in no doubt as to just how bad it all is.

2 comments so far

Demetrius 1th January, 2012 4.50 pm

Interesting, I was on about the Caymans and Switzerland on Wednesday, “Many A Mickle Makes A Muckle” in another political context relating to RBS.

Demetrius 1st January, 2012 4.25 pm

Nah then, squire, nice little earner this one. Middle of London, direct access to The City with special options. The road can be lifted up. In theory to allow boats. But, you could think about levying charges. Chuck in the bridge up the river for 50% off with all access rights and you are onto a real winner. £25 mill and with the right to herd sheep and goats.

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