Three Questions About Mitt Romney's Offshore Money

The Obama campaign doubled down on its attacks against Mitt Romney’s personal wealth today, releasing a new online video that slams the Republican presidential candidate over his offshore financial holdings in known tax havens.

The video, which features Obama’s campaign press secretary Ben LaBolt, makes some pretty bold claims, basically accusing Romney of using a Bermudan shell corporation to dodge U.S. taxes and hide the extent of his personal fortune.

While the attacks are so far unsubstantiated, the video does raise three interesting questions that Romney has yet to answer about his offshore holdings: 

  1. Does the Romney family still own the Bermudan shell corporation in question, and if so why won’t Romney’s campaign admit it? 
  2. Why did Romney transfer ownership of this corporation to a blind trust in his wife’s name the day before he was sworn in as governor?
  3. What taxes would Romney have paid if his money was invested in the U.S.? 

Watch the video below: 

 Romney campaign spokesperson Andrea Saul emails this response: 

“The Obama campaign’s latest unfounded character assault on Mitt Romney is unseemly and disgusting. Mitt Romney had a successful career in the private sector, pays every dime of taxes he owes, has given generously to charitable organisations, and served numerous causes greater than himself. Barack Obama has become what he once ran against – a typical politician willing to use false and dishonest attacks to save his job after failing to do his job. The American people expected more from this president, and he continues to let them down.”

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.