On Tuesday, Romney disclosed that he has been paying a far lower percentage in taxes than most Americans, around 15 percent of his annual earnings.

WHAT the F*KKITY F*CK???

Kreist. I'm sure it's all legal and everything... but Damn, Mittens. Did you really think no one would figure it out? Or use it?

I will say, though - the only entertainment we're going to get out of the election cycle is watching the GOP candidates tear each other up. By the general their party is going to be split six ways from Sunday and whoever emerges from the muck as their candidate is going to have so many battle wounds, it'll be impossible to get elected.

Dammit, this needs to have waited a couple of months. I guess it could get Gingrich or Paul a few wins.

Benevolent Misanthrope: On Tuesday, Romney disclosed that he has been paying a far lower percentage in taxes than most Americans, around 15 percent of his annual earnings.

WHAT the F*KKITY F*CK???

Kreist. I'm sure it's all legal and everything... but Damn, Mittens. Did you really think no one would figure it out? Or use it?

I will say, though - the only entertainment we're going to get out of the election cycle is watching the GOP candidates tear each other up. By the general their party is going to be split six ways from Sunday and whoever emerges from the muck as their candidate is going to have so many battle wounds, it'll be impossible to get elected.

The best part is that the GOP is actually waging all of the "class warfare" that they accuse Obama of perpetuating against one of their own, so Obama doesn't have to during the general. And you know he's sitting on something juicy regarding Romney's money. I guarantee that Romney's Bain money is tied to Iran and other unsavory world actors.

How bootstrappy.

Hobodeluxe: Basically in a nutshell, Bain Capital created investment funds in the Caymans that foreign investors could stash money into and Bain would use that money to go do what Bain does and the investors don't have to pay any taxes whatsoever on the profits they made.

Just for clarity, this practice is not at all limited to Bain. This is very common in the industry. So...yeah.

Fark It: The best part is that the GOP is actually waging all of the "class warfare" that they accuse Obama of perpetuating against one of their own, so Obama doesn't have to during the general. And you know he's sitting on something juicy regarding Romney's money. I guarantee that Romney's Bain money is tied to Iran and other unsavory world actors.

Oh, don't you know it. Obama has access to all the good stuff now. Gingrich probably does, too, with his connections. Mittens, not so much - but you can be he's got employees somewhere at IRS, CIA and FBI. But Obama has the best insiders, you can be sure.

And let's face it - you can be the squeaky-cleanest investor out there and not know that one of your funds had money in companies associated with somebody we don't like this year. Someone like Mittens wouldn't give half a schitt about it as long as he made money and didn't pay taxes. It'll be like shooting fish in a barrel. I mean... if ABC News, of all place, can come up with it...

What do you want to bet it was leaked to them by the Gingrich folks?

I do not see the problem with this. I store all of my assets in the Cayman Islands, too. There is a reason for this. It is a long story but I will explain.

Six o'clock one morning in 1975, someone knocks on my door. My parents answer the door. It's the "Tax Police". They claim that my parents have not paid their taxes. My dad says "We already gave all our money to the government! We paid over one-hundred-percent of our income to the government! We have no more! We are poor!"

"I do not care!", the man said.

It was then that he revealed his name: Taxbongo. "Tax 'em, boys!", Taxbongo said.

I hid under my bed for the next six hours, as Taxbongo tore up the house and raided my piggy bank. "Thank you for the 3.75, and you can assure that I will bring change to the Federal Reserve! Ha, ha, ha, ha!", Taxbongo said.

It was the worst day of my life. It was that day that I made my decision. The next year, I mailed the 4.32 in my piggy bank to an overseas bank account in the Cayman Islands. The Tax Police never came to my house again.

So quite honestly, I do not blame Mitt Romney for doing the same. I do not want my hard-earned cash to be "disappeared" again. I do not want to hope that Taxbongo will never raid my house again. I stored my money in plain sight of the Federal Government and I have learned my lesson. Apparently, Mitchell Romney did, too.

Shut up, libs. You're all fat and your butt smells like anus. Get dunked on, libs. Get dunked on.

quizzical: GAT_00: Dammit, this needs to have waited a couple of months. I guess it could get Gingrich or Paul a few wins.

I'm fine with that. It makes it more likely to have a split party or a brokered convention.

But if it doesn't, then this whole thing is dead and completely wasted.

Avoiding taxes is such a good thing for a public servant. That NEVER bites you in the ass.

Mike_LowELL: I do not see the problem with this. I store all of my assets in the Cayman Islands, too. There is a reason for this. It is a long story but I will explain.

Six o'clock one morning in 1975, someone knocks on my door. My parents answer the door. It's the "Tax Police". They claim that my parents have not paid their taxes. My dad says "We already gave all our money to the government! We paid over one-hundred-percent of our income to the government! We have no more! We are poor!"

"I do not care!", the man said.

It was then that he revealed his name: Taxbongo. "Tax 'em, boys!", Taxbongo said.

I hid under my bed for the next six hours, as Taxbongo tore up the house and raided my piggy bank. "Thank you for the 3.75, and you can assure that I will bring change to the Federal Reserve! Ha, ha, ha, ha!", Taxbongo said.

It was the worst day of my life. It was that day that I made my decision. The next year, I mailed the 4.32 in my piggy bank to an overseas bank account in the Cayman Islands. The Tax Police never came to my house again.

So quite honestly, I do not blame Mitt Romney for doing the same. I do not want my hard-earned cash to be "disappeared" again. I do not want to hope that Taxbongo will never raid my house again. I stored my money in plain sight of the Federal Government and I have learned my lesson. Apparently, Mitchell Romney did, too.

Shut up, libs. You're all fat and your butt smells like anus. Get dunked on, libs. Get dunked on.

It's good to have you back.

A spokesperson for the Romney campaign says Romney follows all tax laws and he would pay the same in taxes regardless of where the funds are based.

Oh, sure. Lots of people park millions of dollars in the Cayman Islands for no special reason. He just wanted to give some of his money some time in the sun. Money needs a holiday too.

Hobodeluxe: Basically in a nutshell, Bain Capital created investment funds in the Caymans that foreign investors could stash money into and Bain would use that money to go do what Bain does and the investors don't have to pay any taxes whatsoever on the profits they made.

Romney likely has money invested in these funds also, but would have to pay the 15% capital gains tax from any income paid to him from these investment funds.

However, because these investment funds attract money that is looking for tax shelter then the returns from those funds are usually much higher than funds not set up for tax shelter purposes so this in fact means that Romney profits from them even if he has to pay the 15% capital gains tax.

So in a nutshell Romney's capital gains are much higher because he has investments in funds that are set up entirely to allow foreign investors to avoid paying US taxes.

And those funds could easily house billions of dollars from some of the biggest criminals in the world, heck, funds like those are where organized crime, dictators, drug kingpins and all sorts of criminals invest their money in so that it can't be tracked while providing a nice return.

Its all legal, but disgusting and unpatriotic as hell, offshore tax havens are a cancer on the worlds financial system...

Basically, in a nutshell, ABC News has made some assertions and from the way those assertions were presented, vague and nonspecific though they were, people are drawing conclusions from them that may or may not be correct. And thus we demonstrate that it's not what you say but how you say them that makes it news. That was straight out of the Michael Moore school of journalism.

Now, it may come out that Romney is dirty. I don't care if it does, I'm planning to vote for Obama anyway just like I did in 2008. But what I cannot stand is the way journalism has degenerated into innuendos and outright lies. This report had no substance outside of the fact that Romney's former company has some of his money and the statements can be traced back to a PO Box in the Cayman Islands. Big deal. Show me he's cheating on his taxes (and good luck with that, like a Presidential candidate hasn't already had that triple-checked) and you've got me. Until then this is a non-story.