Romney Tax

[Vincent]

http://www.weeklystandard.com/blogs/...es_652850.html
Romneys to Release Taxes
1:48 PM, Sep 21, 2012 • By DANIEL HALPER

The Romney campaign is releasing Mitt and Ann Romney's 2011 tax return today. The campaign previews a few of the highlights here:

• In 2011, the Romneys paid $1,935,708 in taxes on $13,696,951 in mostly investment income.
  
• The Romneys’ effective tax rate for 2011 was 14.1%.
  
• The Romneys donated $4,020,772 to charity in 2011, amounting to nearly 30% of their income.
  
• The Romneys claimed a deduction for $2.25 million of those charitable contributions.
  
• The Romneys’ generous charitable donations in 2011 would have significantly reduced their tax obligation for the year. The Romneys thus limited their deduction of charitable contributions to conform to the Governor's statement in August, based upon the January estimate of income, that he paid at least 13% in income taxes in each of the last 10 years.

Additionally, the Romney campaign is releasing a summary of 20 years of taxes, between 1990-2009, detailing their tax expenditures during those years:

• In each year during the entire 20-year period, the Romneys owed both state and federal income taxes.
  
• Over the entire 20-year period, the average annual effective federal tax rate was 20.20%.
  
• Over the entire 20-year period, the lowest annual effective federal personal tax rate was 13.66%.
  
• Over the entire 20-year period, the Romneys gave to charity an average of 13.45% of their adjusted gross income.
  
• Over the entire 20-year period, the total federal and state taxes owed plus the total charitable donations deducted represented 38.49% of total AGI.

[Vincent]

Perhaps now the fourth estate will rise in their duty to bring the esteemed senator to account for his slander........................................... ........ .................................................. ........... Yeah, really thin.

http://www.washingtonpost.com/blogs/...kSNX_blog.html
04:50 PM ET, 07/31/2012
Reid: Mitt Romney didn’t pay taxes for 10 years
By Ed O'Keefe

Senate Majority Leader Harry Reid (D-Nev.) claimed Tuesday in an interview that Republican presidential candidate Mitt Romney refuses to release additional tax returns because he didn’t pay taxes for 10 years.

The interview, published Tuesday by The Huffington Post, includes several swipes by the Senate leader at the GOP candidate.

“His poor father must be so embarrassed about his son,” Reid said in reference to George Romney’s decision to turn over 12 years of tax returns when he ran for president in 1968.

Reid suggested that Romney’s decision to withhold tax information would bar him from ever earning Senate confirmation to a Cabinet post. Then, Reid recalled a phone call his office received about a month ago from “a person who had invested with Bain Capital,” according to The Huffington Post.

Reid said the person told him: “Harry, he didn’t pay any taxes for 10 years.”

“He didn’t pay taxes for 10 years! Now, do I know that that’s true? Well, I’m not certain,” Reid told HuffPo. “But obviously he can’t release those tax returns. How would it look?”

Neither Reid nor his aides would identify the alleged investor, HuffPo reported.

The Romney campaign has previously denied rumors that Romney hasn’t paid taxes in a single year and he recently told ABC News that he couldn’t recall if there were years when he paid below the 13.9 percent tax rate that he paid in 2010.

In that ABC interview, Romney said he would be “happy to go back and look” at his tax records, but his campaign aides haven’t replied to several requests to clarify the former Massachusetts governor’s comments.

As for Reid’s assessment of the state of Senate races, he told HuffPo that “We feel comfortable in the Senate,” but said the growing influence of independent political groups could tip the balance of power toward the Republicans.

“Where the problem is, is this: Because of the Citizens United decision, Karl Rove and the Republicans are looking forward to a breakfast the day after the election,” Reid said. “They are going to assemble 17 angry old white men for breakfast, some of them will slobber in their food, some will have scrambled eggs, some will have oatmeal, their teeth are gone. But these 17 angry old white men will say, ‘Hey, we just bought America. Wasn’t so bad. We still have a whole lot of money left.’”

Reid needs to bake for those words.

IMHO, the Romney campaign was sandbagging the party of satan on this one. It makes the Pos look like the vacant fools that they are.

[Vincent]

Reasonable request under any circumstances. But necessary in light of the slander brought by the Pos against Romney.

http://www.washingtontimes.com/blog/...-day-release-/
Nevada Republican to Harry Reid: Make our day, release your 2011 tax return
By Seth McLaughlin - The Washington Times
September 21, 2012, 06:33PM

Should Sen. Democratic leader Harry Reid follow in the footsteps of GOP presidential nominee Mitt Romney by releasing his 2011 tax return?

Dave Buell, chairman of the Washoe Country Republican party in Mr. Reid's political backyard of Nevada, certainly thinks so.

"Senator, make our day and release your 2011 tax return," he said in an email blast Friday evening.

Citing an anonymous source, Mr. Reid has repeatedly claimed in recent weeks that Mr. Romney "didn't pay taxes for 10 years."

Mr. Romney countered that over the past ten years he never paid less than 13 percent of his taxable income and that "Harry Reid's charge is totally false."

Shortly after Mr. Romney released the additional tax information, Mr. Buell blasted out the email calling for Mr. Reid to come clean and release hits tax records "so that all Nevadans can see that he is paying his fair share." He added, "In addition, Mr. Reid should explain to all of us how he became a millionaire on a bureaucrat's salary. Mitt Romney earned his money by investing in companies, people and creating jobs in the private sector while Harry Reid made his money by taking money from the private sector and redistributing it through government."

Mr. Buell also pointed out that Nevada has had the highest unemployment rate in the country.

[Vincent]

...And predictably, the esteemed senator shot back at "wizards".

What of your accounts, senator? Hmmm?

http://politicalticker.blogs.cnn.com...nting-wizards/
Reid avoids prior claims, blasts Romney's 'accounting wizards'
September 21st, 2012
06:20 PM ET

(CNN) – Sen. Harry Reid said nothing of his earlier claims that Mitt Romney had not paid taxes over a ten-year span in a Friday statement joining Democrats in responding to Romney's release of tax-related documents on Friday.

The Nevada Democrat and Senate majority leader called Romney's accounting "galling" and said the documentation "reveals that Mitt Romney manipulated one of the only two years of tax returns he's seen fit to show the American people – and then only to 'conform' with his public statements."

[TRH]

i don't give a s*** how much Romney "paid in taxes".

I want a good leader who can help the unemployment fiasco, start balancing a budget, and stop p***ing off every other country in existence. Clearly, we don't have that now.

[Atlanta Dan]

Originally Posted by TRH

i don't give a s*** how much Romney "paid in taxes".

I want a good leader who can help the unemployment fiasco, start balancing a budget, and stop p***ing off every other country in existence. Clearly, we don't have that now.

So we need to go back to the party that was in charge during the Golden Age before 2008?

[cubanstogie]

Originally Posted by Atlanta Dan

So we need to go back to the party that was in charge during the Golden Age before 2008?

unfortunately its a multiple choice test. A. obama, B. Romney. I was always taught to eliminate the one you know is not the right answer first. Since I know from the last 4 years he is not , B is the only choice left.

[Atlanta Dan]

Originally Posted by Vincent

The Romneys’ effective tax rate for 2011 was 14.1%.
[*] The Romneys donated $4,020,772 to charity in 2011, amounting to nearly 30% of their income.
[*] The Romneys claimed a deduction for $2.25 million of those charitable contributions.
[*] The Romneys’ generous charitable donations in 2011 would have significantly reduced their tax obligation for the year. The Romneys thus limited their deduction of charitable contributions to conform to the Governor's statement in August, based upon the January estimate of income, that he paid at least 13% in income taxes in each of the last 10 years.

Of course Mitt throws so much out there that trying to conform to one statement then contrdicts another of his statements

Defending his right to pay no more taxes than he owed, he said, "I don't pay more than are legally due, and frankly if I had paid more than are legally due I don't think I'd be qualified to become president."

The decision of Romney's trustee to limit the use of charitable deductions in 2011 in order to adhere to the candidate's claim raised the eyebrows of several tax law experts. They noted that the trustee's use of numerous tax strategies gives Romney the rare ability to loosen or limit his tax payments at will.

http://www.newsobserver.com/2012/09/...docs-pays.html

So I guess by Mitt only claiming a partial deduction for his charitable contributions to manipulate his taxable rate he no longer thinks he is qualified to be President?

[Vincent]

Originally Posted by TRH

I want a good leader who can help the unemployment fiasco, start balancing a budget, and stop p***ing off every other country in existence. Clearly, we don't have that now.

Originally Posted by cubanstogie

unfortunately its a multiple choice test. A. obama, B. Romney. I was always taught to eliminate the one you know is not the right answer first. Since I know from the last 4 years he is not , B is the only choice left.

Sadly, there it is.

[ricardisimo]

No. There are other choices, including refusing to legitimize a corrupt, diseased electoral system by voting not at all. But certainly there are many, many other options. Refusing even to consider them is petty, not to mention counterproductive. The Greens and Libertarians, among others, always put good candidates out there.