Romney’s Dutch money connections

Now we decent leftist folk in the Netherlands like Obama more than Romney. We like killing our babies and elderly, smoke weed, and amp up taxes so much that even Stalin would see us as the better commies. Henceforth it should come as no surprise that most people in the Netherlands root for Obama, just like 90% of the rest of the Socialist Confederate states of Europe. Hell, if it wasn’t for this crisis we’re in right now, we wouldn’t know how fast to wire our money to the incumbent.

But hey, hypocrite is a Greek word, and just like the Greeks we the Dutch have our shady money schemes. And guess what! Good ol’ Mitt is profiting from one of those loopholes in the Dutch tax system. After some research by Follow the Money & Volkskrant (Dutch newspaper), it turns out Mitt has been getting richer and richer after tying his money up in the private equity fund Bain capital. Or as you can read on FTM (or probably not, since it’s written in the horrible sounding Dutch language, so here’s a translation):

The offshore fiscal routes Mitt Romney uses also go through The Netherlands. The private equity fund Bain Capital, in which the presidential candidate participates, uses the Dutch route to evade about 80 million euro ($102 million) of taxes on dividends.

Presidential candidate Mitt Romney profits from the fiscal route the private equity fund Bain Capital uses via the Netherlands. For the American Bain, founded by Romney, the Netherlands is a part of the large network of international holding companies and trust funds.

By routing his investment in 2004 in the Irish pharmaceutical company Warner Chilcott through the Netherlands, Bain manages to evade dividends and capital gains taxes. Since the shares have been kept in the Netherlands, about $389 million in dividends have been paid, and Bain has sold shares for about $334 million in Warner Chilcott shares.

This has been found out by Follow the Money for the Dutch newspaper De Volkskrant, by looking at documents sent to the SEC, by studying tax return forms submitted by Romney, by studying confidential Bain documents leaked by the techblog Gawker, and by data from the Dutch Chamber of Commerce.

That’s exactly 80 million in cash he’s holding there

For anybody with interest in more technical details, here’s some more info on the matter.

But wait a cheesemunching minute there Holland! Aren’t you the country that really likes to tax evil job-creating gazillionaires like Romney? Yes, but it turns out we’re still pragmatic and stingy like hell as well. The idea behind this ‘loophole’ is that big multinationals will be vested here and that their actual presence here will generate new jobs and make their employees spent money here. The policy works more or less, money is flowing in, but people like Mitt Romney are making a gigantic profit from it (80 millions there which he cut the ficus short).

But luckily everybody else is rooting for Barack Hussein right? It’s not like the biggest Dutch company is supporting Romney in order for him to do their evil bidding?
The answer to that is: No of course not, nobody else in the whole country is supporting that Mormon, especially not for oil-related business!

We never could have seen this money-scheme coming!


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