Amnesty: The Only Plausible Answer

If the Romneys paid an unreasonably low rate of taxes on their substantial income, that shows that the law is bad. If, however, they failed to pay what the law requires, that says something about them. Consider the following:

This is the critical question: Did the Romneys get amnesty from the IRS in 2009? To my knowledge, the Romneys have not been directly asked this question.

What We Know

  1. Romneys had a Swiss bank account in 2009.
  2. Bank was UBS.
  3. UBS, after being fined $780,000,000 by the IRS for conspiring with its depositors’ to conceal taxable income, released to IRS the names of 4,700 Americans with UBS accounts.
  4. IRS offered amnesty to Americans with unreported foreign bank accounts in March 2009.
  5. In 2009 IRS received approximately 30,000 requests for amnesty from Americans with foreign bank accounts.
  6. The penalties for foreign account tax evaders who failed to obtain amnesty were draconian.
  7. Those who received amnesty were given immunity from criminal prosecution.
  8. The Romneys have not released, for any year, their FBAR Forms which provide detailed information to the IRS regarding foreign bank accounts. FBAR is the acronym for Report of Foreign Bank And Financial Accounts Form (TD F 90-22.1).

What We Do Not Know

  1. Whether the Romneys asked for amnesty.
  2. Whether there is any other compelling reason for refusal by Romneys to produce the 2007, 2008 and 2009 tax returns and their FBAR Forms.
  3. Why Romneys opened UBS account.
  4. Why Romneys closed UBS account after UBS was caught.

17 Thoughts.

  1. All Mr. Romney has to do to disprove these assertions is to show his federal tax returns with the appropriate schedules attached.

    I will show him mine, if he will show me his.

    Ruth Wetsell

  2. Here is my logic that Romney had to have taken amnesty. Romney has known since 2005 that he wanted to run for president. And he has known that he would have to disclose federal tax returns, just as his father did. He therefore has done everything possible since 2005 to make his tax returns presentable and acceptable to the public.

    The only reason that he would not disclose his returns now is if something UNAVOIDABLE and DISQUALIFYING entered his returns. The only thing that would qualify as such is the 2009 tax amnesty. It was UNAVOIDABLE because Mitt’s alternative to amnesty was to roll the dice and hope the IRS wouldn’t find about his undisclosed Swiss accounts and go after him, which would be politically disastrous. It was DISQUALIFYING because it brands him a felon.

    If Romney did take amnesty, it makes him a felon. He would have committed the felonies of tax evasion, filing a false tax return, and filing a false FBAR. The fact that he received amnesty wouldn’t change the fact that he is a person who committed a felony, aka a felon.

    As Nixon said, Americans have a right to know whether their presidential candidate is a crook. Release the 2009 return, Mitt.

  3. Of course the only logical explanation is concealment of a tax evasion scheme, the one in which the UBS records would have been a ticket to federal prison. Smart crooks always cop a plea. Accepting an amnesty offer – - closing only the UBS account and paying all taxes evaded using that accoumt, plus a 25% fine – - was a legal maneuver to avoid formal prosecution. Any crook with sufficient funds would cop that plea/make the deal.

    Amnesty has been purchased, pursuant to the offer of the U.S. government. However, the fact of felony tax evasion – - if that indeed is the case – - remain unchanged.

    While we all agree the IRS should maintain privacy for our personal tax returns, it is difficult to understand why the arrest/plea bargain/amnesty deal summary from an investigation of an international tax evasion conspiracy is not a public record. These are criminal acts committed against the citizens of the United States of America. Felony arrest records routinely are printed in newspapers and on-line across the nation.

    Do not expect Mitt Romney to utter a meaningful word on this topic. He knows full well about the criticism, but has made the calculation that American voters do not care about his deceit, his campaign of misinformation and disinformation, his huge accumulation of “pants-on-fire” fact checks, or about his lack of stability as evidenced by his propensity for constant position changes precipitated only by change of audience. Since the voters appear to have given him a pass on releasing his tax returns, he assumes they never will take enough interest to “put the pieces together” and figure out his offshore tax schemes for themselves. It’s a big bet – - but he seems to be winning that bet – - and November 6 will be, by far, too late to prevent him from completing the biggest con job in American political history.

    Imagine how much fun it could be. President Mitt with the ultimate rich-kid’s toy: nuclear weapons at his personal, instant command, and the same inner circle of civilian and military-industrial hawks that gave us phantom WMD’s, to cheer him on to greatness. How would we ever sleep… ever?

    Perhaps our vaunted American free press will cease inhaling Romney’s smoke and gazing listlessly at his mirrors, and opt instead to rush to the aid of the nation, their countrymen and their freedoms in this moment of great peril.

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