Tax Avoidance Is Good?

The answer to this question is yes according to Senator Lindsey Graham, but only if it is legal. The Senator from South Carolina praised Presidential Nomination Mitt Romney’s use of foreign tax havens as American. To quote the Senator, “‘it’s really American to avoid paying taxes, legally.'” Senator Graham argued that the problem was not with Mitt Romney. The Senator argued that the problem was actually the complexity of the tax code. 

This support from Senator Graham came amidst increasing attacks by President Barack Obama on Mitt Romney’s use of foreign bank accounts. While the public knows that Governor Romney placed most of his wealth within several offshore blind trusts, the public does not know how much control Governor Romney has over the trusts. 

See Michael Cohn, Lindsey Graham Praises Tax Avoidance, AccountingToday, July 11, 2012.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.