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Mar
2012
6

RIGGED-AMAROLE: Did Romney Help Marriot International Scheme Its Way Out of Taxes?



There may be no better day of the year to drum up some old fashion scandal-mongering than today, Super Tuesday, as Mitt Romney will “compete” against Rick Santorum and Newt Ginigrich in 10 different states for the votes of the GOP faithful.

Something to keep an eye on, then, is this article from The Inquisitr which claims that Mitt Romney was helping Marriott International devise schemes to show losses on the company’s books despite profits, to allow them to pay lower tax rates. Yikes:

During his close ties to Marriott International the company used Romney’s tax advice to setup a plan nicknamed “Son of BOSS” in which the company used newly created partnerships to create $71 million in tax losses out of thin air, even though Marriott actually recorded a profit.

The Son Of BOSS maneuver was eventually struck down by a tax court which called it nothing more than a ”scheme,” “fictitious,” “artificial,” and an “illusion.”

That’s not where the issues end for Romney and his time with Marriott. The company also took various fraudulent deductions which eventually led to the IRS hitting the company with $220 million in penalties.

The company also earned hundreds of millions from a fuel subsidy program that was once characterized as a “scam” by Senator John McCain.

McCain has referred to this year’s GOP primary as “a Greek Tragedy,” and who can blame him? These characters are about as flawed as they come. They have sported the textbooks how-not-to win qualities: tax evasion, multiple divorces and mischaracterizations of minorities, women and labor. As more stories like the one mentioned above materialize, President Obama’s re-election path will likely only become clearer.

Read the entire Inquisitr article HERE.

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