Demolishing The “Romney Swiss Bank Account” Canard
In anticipation of another horrendous jobs report from the BLS, Team Obama decided to make an issue out of Mitt Romney’s Swiss bank account. Because, as we all know, everything would be hunky-dory if it weren’t for Romney legally doing everything he could to reduce his tax burden. You know, like Warren Buffett does, but different somehow.
While the idiot Left is out there asking “What’s Mitt hiding?” – when the bank account was listed in Mitt’s… wait for it… 2010 TAX returns – they’re also delving into hysterics about the money not being used to invest in the United States. Pure stupidity.
First, the money in the account was probably money Romney set aside AFTER he had already paid either income or capital gains taxes at some point. So the money’s existence is due to Romney’s investment. His “sin” was hedging against Obama’s leadership of the economy. In other words, Mitt Romney isn’t stupid.
Second, the idiots running around palms up screaming “Mitt’s not investing in the US!!’ are ignoring that the vast majority of his investments – the Swiss bank account had $3 million in it – are inside the US. Romney is reported to have made $21 Million in 2010. As we know, most of that is capital gains. So if you see a Leftist spouting off about Romney not investing in the United States, have them break out a calculator and figure out how much money you need to have invested in the United States to get a roughly $20 Million return on investment. (Hint: It’s way way way more than the $3 Million in a now-closed Swiss bank account.)
We’re sitting at 41 straight months of unemployment over 8% – when the Obama admin said it would be below 6% by now, if the stimulus passed, which it did – and the Obama administration is trying to distract the populace with class warfare that doesn’t even make sense if you do the math. Romney IS investing in America with HIS OWN money. Obama is bankrupting us using OUR money.
This unseriousness has to stop.