Obama Campaign Strikes Squarely At Romney's Swiss Bank Account

WASHINGTON -- As Mitt Romney campaigned across Ohio during the Republican primary, there was a sense that his message of adding a private-sector touch to national politics was finally resonating among voters. The former Massachusetts governor was still, at that point, embroiled in a tight contest with former Sen. Rick Santorum (R-Pa.). But polls were showing him running away with a victory in the Buckeye State.

Still, in an interview with The Huffington Post just a day before the vote took place, Ohio's former governor Ted Strickland, a Democrat, said he wasn't worried that Romney was establishing firm roots in his home state. The reason was simple. The same business background propelling him in the primary could be turned into a liability in the general.

"We haven't even started really talking in Ohio about Mitt Romney having a Swiss bank account and Mitt Romney putting a portion of his wealth, having it invested in the Cayman Islands," said Strickland. "I mean, trust me, that's not going to go over well in Ohio. Why would any person who aspired to be president, as Mitt Romney has for probably much of his life, open a Swiss bank account? What does that say about his political judgment and what does it say about his commitment to the United States of America?"

On Tuesday morning, the Obama campaign followed Strickland's script to a T, putting out an ad in Ohio called, of all things, "Swiss Bank Account." The spot will air in Virginia and Iowa as well, and according to a campaign aide, has a significant amount of money behind it.

The ad is actually a response to another one being run by a conservative outside group attacking the president for his alternative energy policies. And for that reason it opens up by pointing out that that group, Americans for Prosperity, was accused by fact-checkers of using inaccurate or downright false information. From there, however, there are only haymakers.

"As a corporate CEO, [Romney] shipped American jobs to places like Mexico and China," the script goes. "As Governor, he outsourced state jobs to a call center in India. He's still pushing tax breaks for companies that ship jobs overseas. It’s just what you expect from a guy who had a Swiss Bank Account."

The Swiss Bank line is, of course, a touch gratuitous. And it led the Romney campaign to insist that the president was trying to "distract" from real issues.

"With the worst job creation record in modern history and the slowest economic recovery since the Great Depression, President Obama is trying to distract Americans from the real issues with a series of sideshows," said Romney spokesperson Amanda Henneberg. "Unable to defend his failed record of 23 million Americans struggling for work, wasteful boondoggles like Solyndra, skyrocketing national debt, and unacceptably high energy prices, President Obama has once again resorted to attacking Mitt Romney."

But Obama's team cares more about drawing eyeballs to the spot -- including those of the people who produce cable news segments. And even then, they had a readied response for Romney.

"There are only 2 reasons to have a Swiss bank account: hedging against the dollar or avoiding paying fair share in taxes," tweeted Obama Press Secretary Ben LaBolt.

Also on HuffPost:

Comments

[Grichde]

09:19 PM on 05/06/2012

The way this country is being run, we all may need a Swiss account.

[the99pct]

08:53 PM on 05/06/2012

I found this story and link yesterday. Interesting that so many Indian politicians and industrialists have money hidden in Swiss Bank Accounts. Is it too difficult to get a list for American politicians and the top 1% who are hiding money in Swiss Bank Accounts? It is about time someone did this.

http://incredibleorissa.com/en/black-money-in-swiss-bank-mainly-from-india/

[Shifu]

04:13 PM on 05/06/2012

Where oh where are you tax returns there little Willard? And your Birth Certificate? Hmmmm ???

[Bigger Al]

09:22 AM on 11/15/2012

Where is your birth certificate .........?

[mamacat]

05:49 AM on 05/04/2012

JFK: "Ask not what your country can do for you, ask what you can do for your country."

Romney: "It's legal for me to avoid paying taxes by hiding my money in offshore accounts, so vote for me!"

[1frank]

01:59 AM on 05/04/2012

His Swiss bank account is to pay for my vacations , I don't undersdand why people would be upset , as far as the CVayemen account just in case Obama win a second term ....money for rainy days don't you have a retirement fund ?

[duskdemon]

12:18 AM on 05/04/2012

"From there, however, there are only haymakers."

lol. Very nice Sam Stein, I love the imagery.

[owensgroup]

11:59 PM on 05/03/2012

Money can't buy everything...See what the millions of dollars that Scott Walker raised are doing to help him fight the recall in Wisconsin.....not much. When the people are tired enough of being "trickled on", no amount of negative ads can sway us from the reality that we see and experience everyday on our own.

[QB Vll]

09:19 PM on 05/03/2012

Just remember,
Swiss Bank Accounts
are people too.
My friend.

[tssent]

06:35 PM on 05/03/2012

There are only 2 reasons for having a Swiss bank account:

1a.   As a hedge against the U.S. dollar;
2a.   To keep from paying taxes

Either of them is unacceptable in a man seeking to be the
president of the United States unless his campaign platform
includes a statement that he acknowledges the 2 reasons
above and encourages all citizens of the United States to
do exactly the same, in which case:

1b.  He also acknowledges  that every single dollar in banks
outside the United States helps weaken the U.S. dollar

2b.  Every single dollar in banks outside the United States
is a dollar not being taxed by the government, which has to
have some revenue to build highways, bridges, maintain
an Army, Navy, Air Force and Marines, police, fireman and
a very long list of expenses which can't be accomplished
free.

When the debates come, at last, it will be interesting to
see if there is a moderator with a pair who dares to ask
Romney to confirm the above.

As for Romney, anything less than a direct, detailed response
should be unacceptable to every American in the country,
Republican or Democrat or Libertarian, Black or White,
Gay or Straight, Protestant, Muslim, Catholic or Jew.

[ezer]

07:53 PM on 05/03/2012

2b is wrong. Americans are taxed on worldwide income. It does not matter where the bank is. The account and income have to be reported and taxes paid on it to the US.

[tssent]

11:17 PM on 05/03/2012

Oh but you'd be absolutely wrong on that.  There are absolutely
dozens of ways to invest in Swiss banks and Cayman accounts
under which not a single has to be paid -- and isn't -- by the likes
of people like Romney.

[mamacat]

05:53 AM on 05/04/2012

If you believe that, then could I interest you in a little bridge I have for sale? If you can come up with the cash, I'll let you have it for a song.

[sherwoodforest]

03:44 PM on 05/03/2012

Great ad- clear message and amazingly it is factual! How very Democratic!

[1Truthseeker]

03:13 PM on 05/03/2012

Response to question asked by:
Boopsie2008 Commented 1 day ago
"Somebody please fact check me on this. Isn't one of the
reasons that the deficit got so big during President Obama's
term is that he insisted on putting the cost of Bush's wars ON
the books so we'd know exactly what the true deficit is?"
Yes, As soon as the President took Office he insisted that the costs of the two wars be included in our National Budget. You can see the virulent hypocrisy of the Republicans on this issue.

[sherwoodforest]

03:50 PM on 05/03/2012

Yes- what you say is true. Bush did not have the 2 wars on the budget. And the last special request for funding for the war was budgeted to end on the last day of his presidency- so that was indeed the Bush legacy- 2 wars completely off the books. Because Bush got Dems in the Senate to support him, he had cover politically. But we paid the price and Obama by acting responsibly , immediately was attacked for doubling the debt!
Just can't win with these spin clowns

[1Truthseeker]

06:56 PM on 05/03/2012

The Republicans have continuously peddled deceit to the American voters. Our country's misfortune is that we either have too many naive or just plain dumb voters who keep falling for the same lies over and over again.

[spikespeaks2012]

06:46 PM on 05/07/2012

The cost of the Iraq war, isn't by itself the reason Obama ran our deficit up to almost 16 trillion dollars. Obviously he cared more about his signature Obamacare, Bailouts, refusal to protect our borders from 'Freeloading ILLEGAL aliens', buying votes from bankrupt compainies (Solyndra, etc.), GSA etc... where's your outrage over Obama wasteful spending? Bush had his reasons for not including the cost and you probably should find out the reason before you go spouting off! It was also part of our defense budget. It's a shame that three years and trillions of dollars later liberals are still doing what liberals do best, blame, blame, blame and if that doesn't work, blame some more. One last thing, Obama said that under his administration, the cost of energy will skyrocket. Where's your outrage? I don't see you including that in your post!

[1Truthseeker]

07:51 PM on 05/07/2012

You comment is rife with half truths = LIES!

[1Truthseeker]

12:01 AM on 05/08/2012

All you did is BLAME!

[ebstewartjr]

02:04 PM on 05/03/2012

Massachusetts was 47th in the nation in jobs when Romney was governor.He raised fees which are a tax on the middle class. Romney wants us to trust him with the treasury of the country. He hides his money to keep from paying his fair share of taxes although his percentage is lower than most of us pay. He won't release his tax records so that the American people can judge what kind of patriot he is. Vulture capitalist. Villain Thief and Scoundrel

[Michael Russell 73]

11:05 PM on 06/01/2012

Unfortunately your only stating 1/2 of the facts. Yes, MA was #47 in jobs created % per capita, however, there was also an increase in the population of MA during that same period. There were ACTUALLY 2 jobs created for every 1 new resident of the state during his time as governor.
Now, I'm a moderate independent,,, I believe in gay marriage and legalizing marijuana and prostitution. I also believe that EVERYONE should pay taxes, not just the top 49% of the population. I find that there are just as many half truth/lying spin doctors on the far left as there are on the far right. Do a little research before you believe everything you read.

[McAttorney]

01:53 PM on 05/03/2012

Romney's explanation of his Swiss bank accounts is full of holes.....

[Joehater]

03:15 PM on 05/03/2012

Just like his speeches!

[McAttorney]

03:19 PM on 05/03/2012

You hate Joe? Just for killing one female staff person? :-)

[abscs2000]

11:31 AM on 05/03/2012

How incredibly arrogant of Romney to believe that he can hide his $ in off shore bank accounts.

And how incredibly ignorant and ill-informed would someone have to be to vote for him??

[Joehater]

03:15 PM on 05/03/2012

That is why they call them repulsives!

[spikespeaks2012]

06:55 PM on 05/07/2012

You and other liberals are clueless. Tell me, without crossing your fingers behind your back, that you wouldn't have done everything possible to diversify your money from our collapsing system. All you liberals look and sound pretty pathetic when it comes to understanding basic economics. It's no wonder this country is in the shape it's in. It's time to elect Romney and get America's economy back to where it should be.

[abscs2000]

11:30 AM on 05/08/2012

Of course I would have! But I don't play the role of "Patriotic American" and I'm not running for President.

And talk about "clueless"! There is no better word to describe Romney than "clueless". The guy is OBLIVIOUS!

[nychaseter]

08:23 AM on 05/03/2012

Can't wait to near Nit's answer in the debates about Swiss and Cayman bank accounts.... Obama will wipe the floor w/his pompous a*s.