- Posted May 2, 2012 by
This iReport is part of an assignment:
Election 2012: Your stories
Team Obama Tracks Romney's Foreign Bank Accounts
In a new campaign tactic some will say is a continuation of "class warfare" and a "war on the rich", the re-election team of President Barack Obama is now mapping out where presumptive Republican presidential nominee Mitt Romney or his wife and family have foreign bank accounts. The campaign is calling for voters to contact Romney to move his money out of those foreign accounts and into US banks.
Its website now displays a world map that tags the countries where Romney has holdings.
The headline reads "Tell Mitt Romney: Bring your offshore accounts back to the USA."
Romney has accounts or family trusts in Ireland, Bermuda, Germany, Luxembourg, Australia, the Cayman Islands and Switzerland, according to the map.
"We don't know if he's using these accounts to avoid paying his fair share in taxes, but we do know that in 2010, Romney's tax rate was a startlingly low 13.9%," says the Obama website. "This means Romney pays a lower tax rate than many teachers, firefighters, police officers, and other middle-class Americans -- even a lower rate than most other millionaires."
"Americans know they are working harder for less every day. But President Obama has lost touch with the people he was elected to serve and now is lashing out with desperate attacks," said Romney spokesperson Amanda Henneberg.
"The American people have suffered enough over the last three years and deserve better," she said.
Romney's funds are managed in blind trusts. The administrators of those trusts make the decisions on where to invest and where the accounts are set-up.
Does it matter if Romney's wealth or that of his wife and family are in US banks versus foreign banks?
Will this determine the election?
Do most voters care what accounts a candidate has?
From the Cornfield, this does seem to be a distraction from more pressing issues facing the nation and the American people.
Want to see the map?