Presumptive Republican presidential nominee Mitt Romney insists that he didn't shut down his tax shelters in the Cayman Islands, Bermuda and Switzerland because it would "avoid the truth" and he wasn't going to "manipulate my life" just to become president.
Fox News host Chris Wallace asked Romney in an interview that aired on Sunday why he didn't close the Swiss bank accounts and get out of the investments in the Cayman Islands before he spent the last eight years running for president.
"First of all, there was no reduction — not one dollar reduction — in taxes by virtue of having an account in Switzerland or a Cayman Islands investment," Romney explained. "The dollars of taxes remained exactly the same. There was no tax savings at all. And the conduct of the trustee and making investments was entirely consistent with U.S. law and all the taxes paid were those legally owed and there was no tax saving by virtue of those entities."
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