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Mitt Romney Schemed To Help Marriott International Avoid Paying Taxes

rdmatheny 2012/05/11 14:28:42
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Mitt Romney has long claimed that paying less taxes allows the super rich, himself included, to create jobs now a report from Bloomberg claims
that in his past Romney wasn’t only paying less then 15.5% in personal
taxes, he was helping Marriott International setup tax schemes to trick
the IRS into believing the company was recording losses.


During his close ties to Marriott International the company used
Romney’s tax advice to setup a plan nicknamed “Son of BOSS” in which the
company used newly created partnerships to create $71 million in tax
losses out of thin air, even though Marriott actually recorded a profit.


The Son Of BOSS maneuver was eventually struck down by a tax court
which called it nothing more than a ”scheme,” “fictitious,”
“artificial,” and an “illusion.”


That’s not where the issues end for Romney and his time with
Marriott. The company also took various fraudulent deductions which
eventually led to the IRS hitting the company with $220 million in
penalties.


The company also earned hundreds of millions from a fuel subsidy
program that was once characterized as a “scam” by Senator John McCain.


Under Romney’s
leadership the company’s effective tax rate at time fell below 6.8%
even as Marriott International continued to bring in profitable returns.


While Romney eventually left Marriott International he returned in
2009 only to leave one year later, just in time setup his Presidential
campaign.


Do you think Mitt Romney will allow big business to continue the path
towards fraud and tax dodging if he’s elected as President of the
United States?

Read More: http://www.inquisitr.com/197214/mitt-romney-scheme...

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  • JanHopkins 2012/05/11 16:48:19
    Undecided
    JanHopkins
    Isn't that what business men do for a living? Their job is to find the most benefits for their company. Therefore, he was successful.
  • rdmatheny JanHopkins 2012/05/11 16:58:48
    rdmatheny
    Yes, naive one. That's what "successful" businessmen do. They scheme of ways to skirt the law and fraud the government at the expense of taxpayers and pocket a gazillion dollars and hide it in offshore accounts. Is that how you run your business?
  • JanHopkins rdmatheny 2012/05/12 03:26:18
    JanHopkins
    I don't have a business and never did. I was just making an observation.
  • Revolut... JanHopkins 2012/06/07 17:16:10
    Revolution 2012
    +1
    I agree, he was successful, but it was in a parasitic and immoral way.
  • JanHopkins Revolut... 2012/06/08 04:18:06
    JanHopkins
    If one observes business men for awhile one comes to expect that.
  • Revolut... JanHopkins 2012/06/08 13:05:16 (edited)
    Revolution 2012
    +1
    Sadly, yes. I find a businessperson, once he/she gets to a certain level of success, decides they will do whatever it takes to be richer than everyone else. Not to say that all successful businesspeople are selfish, but it's a rapidly growing trend as I see it.
  • JanHopkins Revolut... 2012/06/08 15:37:37
    JanHopkins
    I used to go to church a long time ago. I noticed that somehow honesty only pertained to Sundays for most business men. I asked a group of them why. They were suprised that I didn't know. Business is business and church is a place to make contacts is what they told me.
  • David Lindner 2012/05/11 15:08:57
    No
    David Lindner
    RP conspiracy theories.
  • rdmatheny David L... 2012/05/11 16:52:32
    rdmatheny
    Maybe you would care to write to Bloomberg.com who is a well respected national financial website and give them your analysis of their article.
  • David L... rdmatheny 2012/05/11 17:00:07
    David Lindner
    you know, i should, considering they are biased left winger newspaper industry.
  • carolynb 2012/05/11 14:51:22
    Yes, he would.
    carolynb
    +2
    The more I hear about Romney, the more I despise him. He is a cold hearted man who will take this country down.

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