Since Mitt Romney Won’t Defend Himself, I Guess It’s Up to Me to Debunk the Left’s Tax Haven Demagoguery


Comment by Jim Campbell, Citizen Journalist and patriot.

Let’s me perfectly clear, liberals for the most part are clueless.  They base their thought processes on opinions not facts. 

They would do well to heed the advice of one of their own, ” Everyone is entitled to his own opinion, but not his own facts”~ Daniel Patrick Moynihan, said in a sudden burst of clarity.

When challenged to a fact based discussion of any sort, the response, ” I don’t want to discuss politics.”
Liberals live in a world of self-delusion, a parallel universe if you may.  I’m not talking about Democrats, whose party has been hijacked by progressives, socialists, Marxists, and communists.  Think, Pelosi, Waters, Boxer, Frank, the entire Obama administration.  Would our country be a better place had the not darkened our door step?   In November we give this delusional group of lemmings a thrashing of epic proportion.
That’s my story and I’m sticking to it, I’m J.C. and I approve this message.

by Dan Mitchell

International Liberty

The Cato Institute

Earlier this year, I defended Mitt Romney and Bain Capital from the absurd accusation that they did something wrong by utilizing low-tax jurisdictions.

So-called tax havens, as I’ve explained on many occasions, play a valuable role in the world economy. Indeed, they should be emulated rather than persecuted.

In a follow-up post, I mocked ABC News for a ridiculous non-story as they tried to make Romney appear guilty for following good business practices.


The issue has become hot again, so I talked about Romney and tax havens with Jason Riley at the Wall Street Journal. (Complete article below)

Since nobody has claimed that Romney violated U.S. tax law, this kerfuffle only exists because the left wants to create the impression that tax havens are bad and then tar the GOP’s presumptive nominee with guilt by association.

Brian Garst of the Center for Freedom and Prosperity nails the issue in his column for the Daily Caller.

People who invest or bank overseas do not hate America. Oftentimes, they are simply banking where their money is earned to avoid the hassle of exchange rate and wire transfer fees. …It’s also smart practice to diversify. …Mitt Romney should not be cowed into shame over his banking practices just because he doesn’t strictly park his after-tax earnings in American banks, but should instead seize the opportunity to more aggressively defend against populist attacks on financial privacy and explain the benefits of jurisdictional tax competition.

That’s good advice, but I’m not holding my breath waiting for Romney to defend Switzerland and other jurisdictions with good policy. That would require an underlying belief in freedom and liberty, which seems to be lacking.

But you would think that he might respond by noting that many top Democrats directly invest in tax havens, and that presumably all of them – as I noted in my WSJ interview – are indirectly invested in these financial centers.

P.S. It’s probably a lost cause, but I’m an old-fashioned guy who thinks that people shouldn’t blatantly lie, so here’s my obligatory complaint that many politicians, journalists, and policy folks are repeating the debunked assertion that so-called tax havens deprive the U.S. Treasury of $100 billion per year. Obama threw around that make-believe number in the 2008 campaign, as seen in this video. But as shown in the final video of this post, the $100 billion figure was concocted out of thin air by a former John Kerry staffer, who confessed he made up the number when the Congressional Research Service asked for his methodology.

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