Topic: Cayman Islands

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Briefing
Obama vs. Romney 101: 3 ways they differ on regulation

Wall Street is a big target – blamed for the financial crisis that led to the Great Recession. Mitt Romney says efforts to rein in financiers via more regulation are an attack on “economic freedom.” President Obama says new regulations would make it “more profitable to play by the rules than to game the system.” Here are three specifics on which the two differ.
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Usain Bolt out of the running in Jamaica

Usain Bolt out: Olympic gold medal winner, Usain Bolt, has pulled out of Saturday's Jamaica International Invitational meet. Bolt has a minor injury.
Indebted Caribbean tax havens look to tax foreign investors

Industry analysts say new fees and taxes could bring in needed money to a region where some debts are near that of Greece. But could they scare off investors?
Opinion: Obama's missed debate opportunities against Romney may cost him (+video)

Though many have declared the night a 'win' for President Obama in his second presidential debate against Mitt Romney, he let several key opportunities to call Romney on the carpet go by. Think: capital gains tax rates and 'binders full of women.' Democrats still have reason to worry.
Romney tax returns: What’s missing in his report?

Pundits, political partisans, and amateur CPA’s are poring over the numbers in Mitt Romney’s tax returns. What’s missing, tax experts say, are the details of Romney’s retirement account from Bain Capital, including investments in offshore accounts in Bermuda and the Cayman Islands.
Romney paid excess taxes in 2011. Patriotic or dumb?

Mitt Romney paid $1.9 million in federal taxes on $13.7 million in income. But he could have paid less federal taxes had he claimed a full deduction on $4 million in charitable giving.
Briefing
Obama vs. Romney 101: 3 ways they differ on regulation

Wall Street is a big target – blamed for the financial crisis that led to the Great Recession. Mitt Romney says efforts to rein in financiers via more regulation are an attack on “economic freedom.” President Obama says new regulations would make it “more profitable to play by the rules than to game the system.” Here are three specifics on which the two differ.
Romney says big business 'doing fine,' with foreign tax haven assist

The former Massachusetts governor, speaking at a fundraiser in Minnesota Thursday, added large US businesses are receiving loans and are better at dealing with regulation.
For a moment, at least, presidential campaigns get back to issues

On the Sunday TV talk shows, presidential campaign surrogates of both parties zeroed in on Medicare. But inevitably, Mitt Romney's so-far unreleased tax returns came up too.
Tropical Storm Ernesto pushes rain and wind toward Jamaica

Sunday morning Tropical Storm Ernesto brought 60 mile-per-hour winds and rain to Jamaica. The storm is expected to reach hurricane strength by Monday.
Romney tax returns: Could Reid’s unsubstantiated attack hurt Democrats?

Harry Reid, the Senate's top Democrat, says Mitt Romney paid no income tax for 10 years. His source, he says, is a Bain Capital investor. But he won't say who. The tactic could backfire.
HSBC money laundering: Bank vows fixes. Senators doubtful.

HSBC money laundering comes under the microscope in a Senate hearing. Bank officials promise to shut down operations in the Cayman Islands, tied to HSBC money laundering.
New details about Romney's wealth confirm F. Scott Fitzgerald's quip about the rich

News sources report that Mitt Romney's financial portfolio has included an offshore company in Bermuda that remained invisible to voters. But it may be images of the Romney clan vacationing at their $8 million summer compound on a lake in New Hampshire that have more impact.
If elected, Romney millions will go in blind trust

The candidate's estimated 250 million dollars will be administered by federal officials on his behalf if he becomes President.
Decoder Wire Obama ad hits Romney Swiss bank account. Effective? (+video)

A new attack ad accuses Mitt Romney of sending jobs overseas and stashing his cash in a Swiss account. Political scientists are dubious that attack ads are as powerful as some think they are.
Difference Maker Tax day: 1040 reasons you should know Nina Olson

Nina Olson is the National Taxpayer Advocate – the voice of the public at the IRS. She's trying to help you navigate the tax code you love to loathe.
Obama vs. Romney: Who's most 'elitist' and out of touch?

Barack Obama and Mitt Romney are both Harvard graduates. Both are wealthy, although Romney is much richer. Each campaign is trying to paint the other as a candidate for American's wealthy, not the ordinary voter.
Germany tries to convince Swiss banks to play by its rules

Germany and Switzerland signed a treaty today in which Switzerland agreed to impose taxes on Germans' secret accounts in Swiss banks, but the deal still falls short of the transparency Germany wants.
Mitt Romney wins big in Florida primary, retakes lead for nomination (+video)

Early reports in the Florida primary show that Mitt Romney has a double-digit lead on Newt Gingrich. Romney's organization and improved debate performances appeared to be decisive.
Conservatives turn on Newt Gingrich, compare him to Bill Clinton

A growing number of critics on the right are casting aspersions on the conservative credentials of Newt Gingrich, saying that he, like Bill Clinton, is a '1960s-generation self-promoter.' Gingrich dismisses the claims as the sour grapes of Republican elites.
Tax VOX Why does Mitt Romney manage his investments from the Caymans?

Mitt Romney's holdings in the Cayman Islands have generated lots of interest in investment funds that are managed from the U.S. but incorporated in foreign jurisdictions. The real winners in these arrangements are U.S. tax-exempt entities, not Mitt Romney and the investors themselves.
Mitt Romney now says he'll make public his tax returns

Under pressure over his wealth at a time when many Americans are struggling, and coming off a drubbing in the South Carolina primary, Mitt Romney says he’ll release his tax returns this week.
Why does Mitt Romney have money in the Caymans? Two potential reasons.

The Cayman Islands used to be known as a 'tax haven.' That's not necessarily true anymore, but there could be other reasons for Mitt Romney use the Caymans to store his millions.
South Carolina Republican debate: Surging Newt Gingrich scores (+video)

In the Republican debate Thursday night, the former House speaker won two standing ovations during one exchange alone. Three of four polls out Thursday showed Newt Gingrich slightly ahead of Mitt Romney for the lead in South Carolina.
Republican debate brings out aggression in candidates

Republican debate getting spicy: South Carolina held the latest Republican debate and the candidates didn't hold their punches. While Romney says the candidates should focus on Obama, he and the others took more jabs than usual at each other in this debate.
South Carolina debate: Gingrich and Romney face each other - and their baggage

Mitt Romney and Newt Gingrich are very close in South Carolina polling. Going into Thursday night's four-man debate, the two front-runners each have new personal issues facing them.