The one thing Bush, Romney, and the Caymans have in common is a commitment to paying lower taxes. The Cayman Islands have attracted investors due to their policy of “no direct taxation.” In the Caymans there is not tax on profits, capital gains, and there is no estate or death tax payable on real estate in the Caymans. George W. Bush also made his position on taxes clear by passing the Bush-Tax-Cuts. The cost of those cuts is estimate to be $1,034,424,338.581.
We have known for some time that Romney has had off-shore accounts in the Cayman Islands, and other off-shore accounts to limit his tax liability in America. Just one example is the Bermuda-based entity called Sankaty High Yield Asset Investors Ltd., which is a corporation wholly owned by Romney. He set it up in 1997, then transferred it to his wife’s newly created blind trust on January 1, 2003, the day before he was inaugurated as Massachusetts’s governor. The director and president of this entity is R. Bradford Malt, the trustee of Romney’s “blind trust”, and Romney’s personal lawyer.
George W. Bush has been thought of by many Americans as anything but an eloquent speaker. Who could forget these moments?
Yet Bush has made 15 Million Dollars for almost 140 speeches since Jan. 2009, with is an average of $110,000 per speech. Now Bush plans to put his established level of excellence as a speaker to work for the Cayman Alternative Investment Summit which will be held in Cayman, just days before the Nov. 6th election.
It seems that Bush and Romney share the same love of diverting money from investment in the United States, that could significantly reduce our deficit. It is estimated that foreign investment in places like the Caymans costs the United States tens of billions of dollars, every year.