Romney's tax returns are out

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

jsteele wrote:In pure Mittens style, he artificially inflated his tax rate. He didn't take the deduction on $1.75 million in 2011 charitable donations. Otherwise, his rate would have been less than 12%.

Previously, Romney said that if he paid more taxes than were required, he wouldn't be qualified to be president. So, I guess we should take him at his word.

I found this strange as well. I also love how they are spinning the "he gave 30% of this income to charity", without mentioning that the charity is the Mormon church and that the "donation" is not exactly "voluntary".

What makes you think it is all the the Church?

Because its right there on this tax return - statement 4. He gave $1,115,484 to the church of Jesus Christ of Latter Day Saints the other $200K went to an outfit called the Tyler Foundation. So, Mitt gave $200K to charity in 2011.

Giving money to the church is not the same as giving it to "charity". The church of course can and does use donations for a variety of things. Some are charitable causes and some are not. For just one example, the LDS church used donations to fight proposition 8 in California. That has nothing at all to do with charity.

But that poster was in error. He gave 3 million to charity after the church.

Do you count giving to other religious organizations as not giving to charity? The catholic church does political work too.

NP. I don't really consider it the same thing because what I donate to my church goes almost entirely to supporting the operating cost of the parish, and therefore it benefits me not some poor people. In that sense it is more like dues.

[Anonymous]

I wonder if anyone at the upcoming debates would dare ask Romney if took advantage of the IRS Amnesty granted to a Swiss Bank account holdes. Pay what you owe no harm no foul

[Anonymous]

My question for Mr. Romney--given that he claims his 14% tax rate is fair since this encourages him to reinvest his money into businesses and thus creates jobs--is to specifically show where he invested his wealth in the last 2 years and how many jobs his investments created.

Plus, are these jobs middle-class jobs that allow the breadwinners' families to live a decent life, start saving for the future?

[Anonymous]

jsteele wrote:In pure Mittens style, he artificially inflated his tax rate. He didn't take the deduction on $1.75 million in 2011 charitable donations. Otherwise, his rate would have been less than 12%.

Previously, Romney said that if he paid more taxes than were required, he wouldn't be qualified to be president. So, I guess we should take him at his word.

Once the election is over he can do an amendment and receive a refund.

[Anonymous]

Anonymous wrote:I wonder if anyone at the upcoming debates would dare ask Romney if took advantage of the IRS Amnesty granted to a Swiss Bank account holdes. Pay what you owe no harm no foul

Actually, I'm not sure that's an appropriate question for a presidential debate, which tend to be about policy and not "gotcha."

But the question should be asked in another way/venue.

[Anonymous]

Anonymous wrote:

jsteele wrote:In pure Mittens style, he artificially inflated his tax rate. He didn't take the deduction on $1.75 million in 2011 charitable donations. Otherwise, his rate would have been less than 12%.

Previously, Romney said that if he paid more taxes than were required, he wouldn't be qualified to be president. So, I guess we should take him at his word.

Once the election is over he can do an amendment and receive a refund.

We know, Rachel.

[Anonymous]

"But that poster was in error. He gave 3 million to charity after the church. "

Actually no. Of the total amount that was disclosed on the tax return every single penny went to the mormon church and to to Tyler Foundation - a foundation that was set up and control by Romney. In fact, only $200K in cash went to Tyler. The balance was a $960K gift of stock that was given "in trust". Now without seeing the underlying trust documents its hard to know whether this is an outright "gift". As to the remainder of this 30% "charitable giving", I have not seen any details of where it went. Has anyone??

It makes a really nice headline to say that he gave 3o% to charity, but where did the money go and why did he choose to put only the LDS and tyler on the returns. How do we even knoew that me additional $1.,5 ish million. Too much smoke and mirrors goign on her.

[Anonymous]

Anonymous wrote:

My guess is he had large offshore holdings, which he got rid of in 2009 in preparation for his presidential run as they were probably tax shelters. That's why he's not releasing his returns from back then. Either that, or his income was super-high back then (like $100mln range). Having such high foreign taxes paid at the source is the key.

Thanks for the info! What I don't get is that Mitt made a fairly serious run fur years ago. Did he seriously think this wouldn't come up them should he have successfully won the nomination?

He gave John McCain 10 years worth of tax returns when McCain vetted him for VP. Something in those returns were a turn off to McCain.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

jsteele wrote:In pure Mittens style, he artificially inflated his tax rate. He didn't take the deduction on $1.75 million in 2011 charitable donations. Otherwise, his rate would have been less than 12%.

Previously, Romney said that if he paid more taxes than were required, he wouldn't be qualified to be president. So, I guess we should take him at his word.

Once the election is over he can do an amendment and receive a refund.

We know, Rachel.

Who is Rachel?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

My guess is he had large offshore holdings, which he got rid of in 2009 in preparation for his presidential run as they were probably tax shelters. That's why he's not releasing his returns from back then. Either that, or his income was super-high back then (like $100mln range). Having such high foreign taxes paid at the source is the key.

Thanks for the info! What I don't get is that Mitt made a fairly serious run fur years ago. Did he seriously think this wouldn't come up them should he have successfully won the nomination?

He gave John McCain 10 years worth of tax returns when McCain vetted him for VP. Something in those returns were a turn off to McCain.

Not that I'm not suspicious of Romney's tax returns but isn't it possible that there was something else that turned McCain off?

[Anonymous]

Anonymous wrote:"But that poster was in error. He gave 3 million to charity after the church. "

Actually no. Of the total amount that was disclosed on the tax return every single penny went to the mormon church and to to Tyler Foundation - a foundation that was set up and control by Romney. In fact, only $200K in cash went to Tyler. The balance was a $960K gift of stock that was given "in trust". Now without seeing the underlying trust documents its hard to know whether this is an outright "gift". As to the remainder of this 30% "charitable giving", I have not seen any details of where it went. Has anyone??

It makes a really nice headline to say that he gave 3o% to charity, but where did the money go and why did he choose to put only the LDS and tyler on the returns. How do we even knoew that me additional $1.,5 ish million. Too much smoke and mirrors goign on her.

I looked at many but no all of the pegs and I see where the 4 mil comes from. Why do you think news outlets are saying 4 mil?