Romney keeps playing hide-and-seek with his booty.
What a blessing
it is for Mitt Romney to serve as the Republican nominee for president.
He's a living portrait
of Mr. Wall Street Man. As his candidacy unfolds, it's allowing us commoners to
get a peek into how the privileged few rig the rules for their own gain — at
our expense.
Romney is, of
course, a full-fledged initiate in the Uppermost One-Tenth-of-1-Percenters
Club. He's got at least a quarter-billion dollars stashed away.
It's not Mitt's
wealth, however, that's troubling. We've had many rich politicians who've
become admirable servants of the common good. Rather, it's how he got it — and
where he put it.
The "how" has now been well documented: Romney's corporate takeover outfit, Bain Capital, practiced the hocus-pocus of legalized Wall Street robbery known as private equity deals.
Bain continues to
put millions in Mitt's pocket, even as it has bankrupted companies, cut
thousands of jobs, and slashed workers' pay.
But where did he
put his booty? We don't know about all of it, for Romney keeps playing
hide-and-seek with his fortune, refusing to release his tax returns or fully
report his holdings on legally required disclosure forms.
Good
investigative reporters, however, are now digging out some rich nuggets, such
as the secret $3-million Swiss bank account he has used to bet against the U.S. dollar. That's legal, I guess, but not nice.
Also uncovered is
his tax shelter in the Cayman Islands, where he uses a tricky dodge called a
"blocker corporation" to shield his IRA investments from business
taxes — and from public scrutiny. Other assets turn out to be hidden in
offshore accounts and tax havens in Australia, Bermuda, Luxembourg, and
elsewhere.
How sneaky! As
the old saying goes, Romney can run, but he can't hide.
Jim Hightower is a radio commentator, writer, and public speaker.
He's also editor of the populist newsletter,The Hightower Lowdown. Distributed via OtherWords (OtherWords.org)