In an interview with American Business Magazine last year, Paul Ryan makes an argument for making America "a tax shelter, instead of other countries."
The comments, which were unearthed by Mother Jones, came in response to a question on what he would do to combat the migration of American business overseas.
"I really think we need to have tax system that makes America a haven for capital formation," Mitt Romney's running mate explained in video posted online by American Business Magazine. "Let's make this country a tax shelter, instead of other countries. And, we can do that, still raise sufficient revenue for the government. And, the way we look at increasing revenues for the government is not class warfare or a bigger than ever tax increase approach. It is economic growth, job creation, better economic growth policies to raise revenue through higher growth. Meaning, lower tax rates at a broader base of income brings in more revenues and helps us close our fiscal gap."
Upon the release of Romney's 2011 tax returns last month, HuffPost's Zach Carter reported:
Romney's income was $13,696,951 in 2011, and he paid $1,935,708 in taxes. Romney's income for the year was more than 263 times larger than the U.S. median household income of $51,914.
At 379 pages, Romney's 2011 tax return is nearly twice as long as his as his 203-page return from 2010. A full 267 pages of the latest return are devoted to listing Romney's investments in 34 offshore corporations and partnerships, including 15 in the Cayman Islands. Of the 34 offshore companies, 30 are located in countries considered to be offshore tax havens by the U.S. Government Accountability Office.
Romney's Swiss bank account, which appeared on his 2010 tax return, has disappeared. His personal Bermuda-based corporation, Sankaty, remains. Romney also shifted $111,081 offshore to a Bain Capital affiliate based in the Cayman Islands during 2011, and an additional $296,471 to a Golden Gate Capital fund, also organized in the Caymans.
As for Ryan, when asked during a recent appearance on Fox News Sunday how Romney's tax plan for the country would lower tax rates, yet remain revenue-neutral, the Wisconsin Republican declined to offer a thorough explanation.
HuffPost's Dave Jamieson reported at the time:
The Obama campaign has blasted the Romney-Ryan ticket for not providing details on how it would give Americans such large tax breaks without growing the deficit. Ryan reiterated in an interview on "Fox News Sunday" that the plan would drop taxpayers' bills by 20 percent without costing a dime, due to closed tax loopholes, but he was short on specifics when pressed by host Chris Wallace.
“You haven’t given me the math,” Wallace said in one exchange.
“I don’t have the ... It would take me too long to go through all of the math,” Ryan responded.
After facing criticism over the lack of details, Ryan sought to downplay the exchange while speaking on a Milwaukee talk radio program. He said, "I like Chris; I didn't want to get into all of the math on this because everyone would start changing the channel."
Also on HuffPost:
"That's not the way I view the world. As someone who grew up in tough circumstances, I know that being on public assistance is not a spot that anyone wants to be in. Too many people today who want to work are being forced into public assistance for lack of jobs," Scott said in an email to <a href="http://thehill.com/blogs/ballot-box/senate-races/250157-sen-scott-brown-denounces-romney-comments" target="_hplink">The Hill</a>.
"He was obviously inarticulate in making this point," Ryan <a href="http://www.huffingtonpost.com/2012/09/18/paul-ryan-mitt-romney-video_n_1895403.html" target="_hplink">said</a> during an interview with a Nevada television station.
"This could be the opportunity for Romney, and for that campaign, to finally take the gloves off and take the fear off and just start explaining conservatism, start explaining liberty to people and what it means," <a href="http://www.huffingtonpost.com/2012/09/18/rush-limbaugh-mitt-romney_n_1893882.html" target="_hplink">Limbaugh said</a> Tuesday. "And explain that they don't need to be in that 47 percent. There's no reason for them, for everybody to be -- essentially having given up on their future in this country. There's no reason for it. This is, to me, such an opportunity to espouse conservatism."
"Mitt Romney probably could have better explained himself. I think he was a little clumsy in doing this," <a href="http://thehill.com/video/house/249975-rep-allen-west-romney-a-little-clumsy-with-47-percent-comment" target="_hplink">West said</a> on Fox News.
"Sure, there are some government programs that cultivate patterns of dependency in some people. I'd put federal disability payments and unemployment insurance in this category. But, as a description of America today, Romney's comment is a country-club fantasy. It's what self-satisfied millionaires say to each other. It reinforces every negative view people have about Romney," <a href="http://www.nytimes.com/2012/09/18/opinion/brooks-thurston-howell-romney.html?ref=davidbrooks" target="_hplink">Brooks wrote</a>. "He's running a depressingly inept presidential campaign. Mr. Romney, your entitlement reform ideas are essential, but when will the incompetence stop?"
"It remains important for the country that Romney wins in November (unless he chooses to step down and we get the Ryan-Rubio ticket we deserve!). But that shouldn't blind us to the fact that Romney's comments, like those of Obama four years ago, are stupid and arrogant," <a href="http://www.weeklystandard.com/blogs/note-romney-s-arrogant-and-stupid-remarks_652548.html" target="_hplink">Kristol wrote</a>.
"He has to not apologize, because we've seen enough apologizing already, and he cannot apologize," <a href="http://thehill.com/video/campaign/249993-trump-romney-cannot-apologize-for-inartful-comments-at-fundraiser" target="_hplink">Trump said</a> on NBC News. "What he said is probably what he means." Trump also said that Romney's words were "inartfully stated."
"The Romney campaign should double down on what he said. They should own it. The trouble for the left and media (but I repeat myself) is that most Americans agree with Mitt Romney. Most Americans consider themselves part of the 53% and it is not a winning proposition for Barack Obama to convince Americans they are less than they think they are when most Americans already recognize he has made them less than they were," <a href="http://www.redstate.com/2012/09/17/treat-the-press-as-enemy-collaborators/" target="_hplink">Erickson wrote</a> in a blog post on RedState.com.
"[Romney] believes that every American has got to have skin in the game...he doesn't want what the president wants," <a href="http://www.politico.com/blogs/burns-haberman/2012/09/christie-romney-wants-to-empower-people-135893.html" target="_hplink">Christie said</a> on Fox News, adding that Romney wants to "empower individuals...and that's what he's really talking about."
"The idea that you're declaring, 'Well, the race is over. Mitt Romney doesn't care about people,'" <a href="http://www.mediaite.com/tv/laura-ingraham-fired-up-over-romneys-47-tape-its-ridiculous-this-is-getting-airtime/" target="_hplink">Ingraham said </a>on Fox News. "Meanwhile, you have a president whose policies have undermined the 47 percent. ... I'm very pumped up about this. I think it's ridiculous that people are seizing on it and that we're even giving all that much airtime to it, frankly."
"I disagree with Governor Romney's insinuation that 47% of Americans believe they are victims who must depend on the government for their care. I know that the vast majority of those who rely on government are not in that situation because they want to be. People today are struggling because the government has failed to keep America competitive, failed to support job creators, and failed to get our economy back on track," <a href="http://www.lindaforsenate2012.com/news/press-releases/2012/09/18/linda-mcmahon-response-to-mitt-romneys-remarks/" target="_hplink">McMahon said</a> in a statement.
"To read many of the reactions on Twitter, you'd think Mother Jones had just found video of Mitt Romney strangling a hooker with her own pantyhose," <a href="http://www.nationalreview.com/corner/322394/quick-thoughts-freeloaderdammerung-jonah-goldberg" target="_hplink">Goldberg wrote</a>. "Indeed, many people understand what Romney is getting at here, even if he's saying it badly."