Romney says big business 'doing fine,' with foreign tax haven assist
The former Massachusetts governor, speaking at a fundraiser in Minnesota Thursday, added large US businesses are receiving loans and are better at dealing with regulation.
Todd Bailey, Hobbs News-Sun/AP
Creating a potential headache for his campaign, Republican presidential candidate Mitt Romney said big businesses in the U.S. were "doing fine" in part because they get advantages from offshore tax havens.
His comments echoed similar assertions about the state of big business by President Barack Obama which Romney has criticized. They're also a reminder that the GOP candidate has kept some of his personal fortune in low tax foreign accounts.
"Big business is doing fine in many places," Romney said during a campaign fundraiser Thursday. "They get the loans they need, they can deal with all the regulation. They know how to find ways to get through the tax code, save money by putting various things in the places where there are low tax havens around the world for their businesses."
Romney's assertions resembled Obama's declaration earlier this summer that the "private sector is doing fine." Romney and other Republicans pounced on the president's comments and cast them as an indication that he was out of touch with the nation's economic struggles.
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