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When Romney becomes President.......
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<blockquote data-quote="pickup" data-source="post: 1003560"><p>Klein, it is not illegal to have foreign bank accounts, it is illegal to not disclose them. A hidden foreign account usually is an indication of hiding an income flow in order not to pay taxes on it.</p><p></p><p>That much being said, I suspect there is a dark reason behind Romney not disclosing his taxes returns from a few years back(what did he disclose? 2010 and 2011 returns?). I suspect (just a suspicion) that Romney had money in swiss bank accounts that were hidden from the eyes of the U.S. government until the Swiss banks caved in to the U.S demands for disclosure. </p><p> </p><p>There was an amnesty period offered by the U.S in which all swiss bank account holders could fess up, disclose and pay back taxes without criminal liability. I suspect that Romney took advantage of that amnesty and if he did, he must have a bunch of amended returns that won't hide the amnesty he took advantage of . I think he technically paid his taxes, contrary to what Harry Reid is saying. But he probably paid them in a very round about way. </p><p></p><p>Just my two cents, and maybe not the thread to spend them.</p></blockquote><p></p>
[QUOTE="pickup, post: 1003560"] Klein, it is not illegal to have foreign bank accounts, it is illegal to not disclose them. A hidden foreign account usually is an indication of hiding an income flow in order not to pay taxes on it. That much being said, I suspect there is a dark reason behind Romney not disclosing his taxes returns from a few years back(what did he disclose? 2010 and 2011 returns?). I suspect (just a suspicion) that Romney had money in swiss bank accounts that were hidden from the eyes of the U.S. government until the Swiss banks caved in to the U.S demands for disclosure. There was an amnesty period offered by the U.S in which all swiss bank account holders could fess up, disclose and pay back taxes without criminal liability. I suspect that Romney took advantage of that amnesty and if he did, he must have a bunch of amended returns that won't hide the amnesty he took advantage of . I think he technically paid his taxes, contrary to what Harry Reid is saying. But he probably paid them in a very round about way. Just my two cents, and maybe not the thread to spend them. [/QUOTE]
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