Romney's mantra is 'Believe in America' ... So why does he put his money offshore?
American Exceptions
By TIMOTHY EGAN, NYT
The two great bottom-line phrases of modern life are: "Put your money where your mouth is" and, regarding fact-checking and getting to the meat of any operation, "Follow the money."
Mitt Romney's mouth is certainly in this country. "Believe in America" is his campaign mantra, as ubiquitous as a pop-up flag on his Web site, and bannered at every rally. The president's policies, he said this week by way of comparison, "are extraordinarily foreign."
But Romney's own money is somewhere else, showing that he's willing to bet against America - its currency, its tax system, its safety as a place for capital. Anyone who wants to lead this nation, and stashes millions of dollars in foreign banks, overseas financial havens and byzantine accounts in countries without tax or regulation, had better be prepared to defend that financial betrayal.
Yet Romney will not defend it, even though there's a decent free-market argument for how his fortune found a refuge offshore.
That's the crux of one of the biggest obstacles standing between Romney and the White House. The "Swiss-yachting" of Romney is about whether you put your chips on your own country or on other nations.
(More here.)
By TIMOTHY EGAN, NYT
The two great bottom-line phrases of modern life are: "Put your money where your mouth is" and, regarding fact-checking and getting to the meat of any operation, "Follow the money."
Mitt Romney's mouth is certainly in this country. "Believe in America" is his campaign mantra, as ubiquitous as a pop-up flag on his Web site, and bannered at every rally. The president's policies, he said this week by way of comparison, "are extraordinarily foreign."
But Romney's own money is somewhere else, showing that he's willing to bet against America - its currency, its tax system, its safety as a place for capital. Anyone who wants to lead this nation, and stashes millions of dollars in foreign banks, overseas financial havens and byzantine accounts in countries without tax or regulation, had better be prepared to defend that financial betrayal.
Yet Romney will not defend it, even though there's a decent free-market argument for how his fortune found a refuge offshore.
That's the crux of one of the biggest obstacles standing between Romney and the White House. The "Swiss-yachting" of Romney is about whether you put your chips on your own country or on other nations.
(More here.)
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