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Getbig Main Boards => Politics and Political Issues Board => Topic started by: blacken700 on September 23, 2012, 06:25:17 AM
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Romney tax returns: What’s missing in his report?
Pundits, political partisans, and amateur CPA’s are poring over the numbers in Mitt Romney’s tax returns. What’s missing, tax experts say, are the details of Romney’s retirement account from Bain Capital, including investments in offshore accounts in Bermuda and the Cayman Islands.
By Brad Knickerbocker , Staff writer / September 22, 2012
Republican presidential candidate, former Massachusetts Gov. Mitt Romney greets supporters after speaking at a rally in Las Vegas Friday.
It’s no coincidence that Mitt Romney chose a Friday afternoon to release more information about the income taxes he pays. In Washington , that’s known as “news dump day,” the time when most people are moving into weekend mode and whatever bad news an elected official has to report – usually it’s the White House – is largely ignored.
Yes, he's rich. Mitt Romney finally releases his tax returns.
Mitt Romney would be the wealthiest president ever, Forbes calculates
Mitt Romney taxes show 'very high' charitable giving tied to Mormon church
Unless, that is, there’s been months of controversy and buildup in a presidential election year and the issue in question gets to the essence of a candidate’s image (if not character).
That’s certainly the case with Mr. Romney’s personal wealth, the “47 percent” of the electorate he seemed to write off in a private meeting with campaign donors, and what’s already known about the tax-sheltered offshore investment accounts that would make him (as Forbes Magazine calculates) “the wealthiest White House occupant ever.”
So it is that the report by Romney’s tax preparer (PriceWaterhouseCoopers) and the friend who manages Mr. and Mrs. Romney’s three trusts remains very much in the news.
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LOL I guess the left is upset that there isnt anything damning in the releases he has made so they have to bitch about what they can.
Told you this would happen by the way
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why doesn't he release everything,like every other candidate does. mmust be hiding something
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why doesn't he release everything,like every other candidate does. mmust be hiding something
iono probably for the same reason obama doesnt release his college records...
neither one is important and are a distraction from the
record unemployment
record underemployment
record low labor participation
record debt
record number of ppl on food stamps
record number of ppl receiving govt aid
etc...etc...
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and you call obama kneeepadders, the repubs are even worse ;D
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and you call obama kneeepadders, the repubs are even worse ;D
LOL what?
what that meant for another thread?
where did you copy and past this from blacken?
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when romney holds something back it's ok ,it's not important :D kneepadding at it's best
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when romney holds something back it's ok ,it's not important :D kneepadding at it's best
I never bitched about obamas college records, did I?
And you have bitched about his college records right, seeing as your bitching about romneys taxes even though he at least has released a summary...
pot meet kettle
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this is ok for the kneepadders :D :D :D
Romney Lawyer Admits They Manipulated Taxes to Conform to 13% Claim
by Olympia
Romney’s lawyer had admitted that the Democratic accusation that Willard & Wife could have paid a lot less in taxes in 2011. BUT, the returns were manipulated to conform to Willard's claim in August that he always paid at least 13%.
The AP reported:
But, Brad Malt acknowledged, the couple “limited their deductions of charitable contributions to conform to the governor’s statement in August, based on the January estimate of income, that he paid at least 13 percent in income taxes in each of the last 10 years.”
Tax experts point out that Romney’s returns are missing a few details:
What’s missing, tax experts say, are the details of Romney’s retirement account from Bain Capital, including investments in offshore accounts in Bermuda and the Cayman Islands.
It’s a potentially important difference because the simple average treats each year equally — whether Romney earned, say, $5 million in that year or $30 million. It is especially important if Romney paid a low tax rate in a year in which he earned a lot but paid a high tax rate in years when he earned less. The weighted average would give a more accurate picture.
Maybe this is why Willard wants us to look up and not at his taxes when he said:
”Ha ha. We’re in the stretch aren’t we? Look at those clouds. It’s beautiful,” he said, pointing to the sky. “Look at those things.”
http://www.washingtonpost.com/blogs/election-2012/wp/2012/09/20/romney-on-new-campaign-strategy/
Harry Reid points out in a statement from his office"
“That raises the question: what else in those returns has Romney manipulated?”
Remember this President's statement:
“There’s an old saying in Tennessee — I know it’s in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can’t get fooled again.”
http://www.politicususa.com/romney-lawyer-admits-manipuated-taxes-conform-13-claim.html
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^^^
whats the point the still paid what they said they paid...
Like I said even if he did release his taxes you morons would still bitch about something
pot meet kettle
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^^^^^^^^^^^^^
more kneepadding
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Former Mitt strategist on Romneyland tax dump: 'Is this an April Fool's joke?'
by Jed Lewison
Alex Castellanos, who worked for Mitt Romney in 2008 and continues to be a Republican political consultant, tells Politico's Maggie Haberman that he is not impressed with the optics of Romney's tax dump move:
"At first I thought this was an April Fool's Joke," said Castellanos, who tweeted something to that effect at me earlier. "But it isn't April. I can't imagine that David Axelrod will now say, I'm glad Mitt put this issue behind him. This will drag Mitt's taxes back into the debate. And there's not many days left. I just can't imagine why they would do this. There are 40 days left and you have now made more of them about Mitt's taxes....you don't serve a life sentence and then confess afterward. They've taken their beating on this (already) ... I just don't understand how a (being) 'little pregnant' strategy (works)."
According to Haberman, Castellanos isn't alone. She says other Republican operatives are telling her this partial dump of Romney's past tax returns will only encourage more questions about his past returns.
One good question, raised by Greg Sargent, is this: what was Mitt Romney's actual effective tax rate during the past 20 years? As he points out, Romney merely released the average tax rate during that time. That means years in which he had lower income count the same as years in which he had a higher income, and given that his tax rate seems to go down as his income goes up, the 20 percent figure he's releasing is probably a bit misleading.
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Former Mitt strategist on Romneyland tax dump: 'Is this an April Fool's joke?'
by Jed Lewison
Alex Castellanos, who worked for Mitt Romney in 2008 and continues to be a Republican political consultant, tells Politico's Maggie Haberman that he is not impressed with the optics of Romney's tax dump move:
"At first I thought this was an April Fool's Joke," said Castellanos, who tweeted something to that effect at me earlier. "But it isn't April. I can't imagine that David Axelrod will now say, I'm glad Mitt put this issue behind him. This will drag Mitt's taxes back into the debate. And there's not many days left. I just can't imagine why they would do this. There are 40 days left and you have now made more of them about Mitt's taxes....you don't serve a life sentence and then confess afterward. They've taken their beating on this (already) ... I just don't understand how a (being) 'little pregnant' strategy (works)."
According to Haberman, Castellanos isn't alone. She says other Republican operatives are telling her this partial dump of Romney's past tax returns will only encourage more questions about his past returns.
One good question, raised by Greg Sargent, is this: what was Mitt Romney's actual effective tax rate during the past 20 years? As he points out, Romney merely released the average tax rate during that time. That means years in which he had lower income count the same as years in which he had a higher income, and given that his tax rate seems to go down as his income goes up, the 20 percent figure he's releasing is probably a bit misleading.
no link?
LOL sorry blacken youve blown any and all credibility you had here
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http://www.google.com/url?q=http://www.boycotttheday.com/news2/index.php/politics/3471-former-mitt-strategist-on-romneyland-tax-dump-is-this-an-april-fools-joke&sa=U&ei=8ShfUMuZIIqD0QHw_YGQCQ&ved=0CBwQFjAD&usg=AFQjCNGvCSUfGoBwzwnpbImy0VFND28hiA
plese tonymctones no more kneepadding :D :D :D i'm laughing so much my stomach is killing me :D :D :D :D
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link didnt work...
so youre saying that he did indeed pay the amount of taxes he said he did?
whats the issue you have here blacken?
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just tried it works fine, this isn't more kneepadding, is it ??? ;D
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just tried it works fine, this isn't more kneepadding, is it ??? ;D
link didnt work...
so youre saying that he did indeed pay the amount of taxes he said he did?
whats the issue you have here blacken?
Still doesnt work for me, maybe its my computer...
so whats the issue you have here blacken?
that he didnt pay more then the amount he said he did?
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How come Simple Jack never posts about the economy? ???X
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How come Simple Jack never posts about the economy? ???X
oh good MR. INDEPENDENT is on, mommy not using the computer right now. :D so did you find your own place yet or are you still on your mommy's tit :D :D :D
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so whats the issue you have here blacken?
that he didnt pay more then the amount he said he did?
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Hahahaha, the middle east is burning as we speak because of this idiot, a dead ambassador and marines are dead, the economy, UE and EVERYTHING else is in the shitter and all you clowns can come up with is (still) his tax returns?? Hahahaha, oh man, you libs are wacked. LOL
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these returns dont matter. his own lawyer admits they were 'customized' to overpay to match what he said on the campaign trail.
any conversation past that is pointless, on either side of the aisle.
end of subject. this shit has been in the news for ENTIRELY too long. i can't believe Romney is reversing course here - the issue was over.
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these returns dont matter. his own lawyer admits they were 'customized' to overpay to match what he said on the campaign trail.
any conversation past that is pointless, on either side of the aisle.
end of subject. this shit has been in the news for ENTIRELY too long. i can't believe Romney is reversing course here - the issue was over.
so the issue is he didnt pay more then he said he paid?
The way I read that is he modified this past years deductions so that he paid the 14% average over the past 10 years...
so I ask again, your issue is he didnt pay more then he said he did?
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these returns dont matter. his own lawyer admits they were 'customized' to overpay to match what he said on the campaign trail.
any conversation past that is pointless, on either side of the aisle.
end of subject. this shit has been in the news for ENTIRELY too long. i can't believe Romney is reversing course here - the issue was over.
For 20 years? I suppose you think it was just for last year only.
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For 20 years? I suppose you think it was just for last year only.
???
The tax issue is a stupid one. Romney is a very smart man who put his money offshore to protect it. 100% legal. I dont think he would ever break any law. He doesn't NEED to. People crying about his returns don't understand how the world works.
That being said - Romney hasn't showed CONSISTENCY on this issue. He won't release, he will release. He paid only what he had to, now he overpaid. He claims he moved money off-shore, but not for any tax benefit.
That's not believable. He should just be HONEST and say "Yes, Chris Mathews, you liberal douchebag little girl, I legally put my $ offshore to keep more of it from leeches like Obama... I ever broke a law and you can kiss my ass, tweety".
instead, it's been these little lies and tweaks and changes. Geez, I want romney to win. I just want him to stop pandering.
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???
The tax issue is a stupid one. Romney is a very smart man who put his money offshore to protect it. 100% legal. I dont think he would ever break any law. He doesn't NEED to. People crying about his returns don't understand how the world works.
That being said - Romney hasn't showed CONSISTENCY on this issue. He won't release, he will release. He paid only what he had to, now he overpaid. He claims he moved money off-shore, but not for any tax benefit.
That's not believable. He should just be HONEST and say "Yes, Chris Mathews, you liberal douchebag little girl, I legally put my $ offshore to keep more of it from leeches like Obama... I ever broke a law and you can kiss my ass, tweety".
instead, it's been these little lies and tweaks and changes. Geez, I want romney to win. I just want him to stop pandering.
It seems like a lot of folks are missing an important point here. Perhaps Romney isn't doing anything illegal by not paying some taxes and stashing his wealth off-shore. Perhaps is is only good business for him to pay a lower percentage (14%) of his income in taxes. Perhaps our tax laws are just broken in allowing that anyone should be able to evade paying their fair share in income taxes. Since it is largely the wealthy who write and enact tax regulations, expect more of the same should Romney get elected.
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the laws are what people have issue with. Romney paid 14%. Most people paid 25 or 30%. Under the Ryan plan, Romney would have paid 1%.
This works for some people, not for other people.
it's not rocket science, it's not right/wrong... it's how you feel about it. Romney's problem here isn't what he paid - it is how he is handling it. You can bet that Trump sure as heck would have no problem telling the camera "yes, I made $x million last year. Cheney had no problem making $36 mil the year he won VP.
If romney had laughed it off, it would be a non-issue. He tried to please everyone... and that pleases nobody.
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the laws are what people have issue with. Romney paid 14%. Most people paid 25 or 30%. Under the Ryan plan, Romney would have paid 1%.
This works for some people, not for other people.
it's not rocket science, it's not right/wrong... it's how you feel about it. Romney's problem here isn't what he paid - it is how he is handling it. You can bet that Trump sure as heck would have no problem telling the camera "yes, I made $x million last year. Cheney had no problem making $36 mil the year he won VP.
If romney had laughed it off, it would be a non-issue. He tried to please everyone... and that pleases nobody.
It seems like Romney's campaign advisors and perhaps some fellow Republicans are giving him bad advice and he is using it.
You are right, it is not whether a person is right or wrong to stash money in off-shore tax shelters and thus avoiding the tax collector, it is our tax laws that are broken for allowing this to happen. Romney's reluctance to come clean about his income and his taxes makes him appear dishonest....which of course, he probably is.
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I'm 100% sure Romney broke ZERO laws.
his problem is that he can't publicly embrace being rich. Trump did, and people actually liked him despite him being dumb as a box of rocks on many issues and arrogant beyond belief.
Romney keep trying to play that "i'm one of you, i'm unemployed too, who let the dogs out" card. Just admit "hey, i've been working 60 hour work weeks for my entire adult life, really stressful stuff, in both the private and public sector. I dont like giving Uncle Sam my money, and neither you should".
Instead he just keeps trying to say "i paid a lot, I didn't get any tax breaks". An obvious lie. You dont send all your money offshored NOT to save on taxes. He would be the stupidest businessman in history to send all this $ offshorre and NOT save $ by doing so.
it's insulting that he looks at the camera and say "oh no, i'd never put $ offshore for tax benefit" like he did. An obvious lie. Just say "you bet I did, taxes are too damn high, amirite?"
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what his fair share prime, with and without his charitable donations?
whats your fair share?
why is it a negative in your mind that someone gets to keep more of their hard earned money?
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what his fair share prime, with and without his charitable donations?
whats your fair share?
why is it a negative in your mind that someone gets to keep more of their hard earned money?
You don't know Romney's money is hard earned.
If there were a flat rate tax that everyone paid, my guess is that Romney would not pay more in taxes. As it stands, the middle class is not only subsidizing the poor, they are also covering what some wealthy folks and corporations get by with not paying. Are you aware the some large profit making corporations actually pay only the minimum annual corporate tax of $150.
Personally, I prefer sales tax to income tax because I have most of what I need and all my income is from retirement investment returns at this point. With a sales tax, if I want or need to save some tax expenses, I simply don't spend money on things I likely don't need anyway.
Incidentally, I started working when I was 12 years old when I would go to work with my step dad in the summer to earn pocket money. I worked all of my adult life until I retired at 66. Trust me, what little money I have is "hard earned."
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You don't know Romney's money is hard earned.
If there were a flat rate tax that everyone paid, my guess is that Romney would not pay more in taxes. As it stands, the middle class is not only subsidizing the poor, they are also covering what some wealthy folks and corporations get by with not paying. Are you aware the some large profit making corporations actually pay only the minimum annual corporate tax of $150.
Personally, I prefer sales tax to income tax because I have most of what I need and all my income is from retirement investment returns at this point. With a sales tax, if I want or need to save some tax expenses, I simply don't spend money on things I likely don't need anyway.
Incidentally, I started working when I was 12 years old when I would go to work with my step dad in the summer to earn pocket money. I worked all of my adult life until I retired at 66. Trust me, what little money I have is "hard earned."
way to not address any question posed...
so your argument is it ok to tax him more b/c the income isnt "hard earned"? LMFAO
goodness gracious....
Just so you know Ive worked since the age of 10, mostly manual labor until a few years ago and trust the ppl in the suits and offices work more hours then the manual labor guys without a fucking doubt.
so ill ask again prime, how much is "fair" with and without charitable donations?
try to stay on topic this time, I know its normal for libtards to run off course but please try...
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way to not address any question posed...
so your argument is it ok to tax him more b/c the income isnt "hard earned"? LMFAO
goodness gracious....
Just so you know Ive worked since the age of 10, mostly manual labor until a few years ago and trust the ppl in the suits and offices work more hours then the manual labor guys without a fucking doubt.
so ill ask again prime, how much is "fair" with and without charitable donations?
try to stay on topic this time, I know its normal for libtards to run off course but please try...
You are the one who took this conversation off topic when you wrote that Romney's income is hard earned. I don't know that it isn't and you don't know that it is. Therefore you even bringing it up was completely irrelevant.
Just so others are clear here, I never said Romney should pay more taxes because his income isn't hard earned....that's something you made up. But then, you right-wing nuts have a habit of making stuff up, don't you?
I've worked both in both blue and white color positions over the years. Trust me, it isn't about the color of your color that makes income "hard earned", it is about the job description/duties. And yes, some executive positions require many hours of work, although not necessarily hard work. Probably the hardest working group are small business owners who have to do both the manual and work and run the business too.
Now to the topic you suggest this is really about. To answer your question accurately, I need more information from you. What do you mean by how much? How much in actual dollars and cents or what percentage of one's income should they pay in taxes. Are you suggesting there should be a tax ceiling? So if someone earns a half a billion dollars they should not pay anymore than someone who, let's say makes $500,000? As for charitable deductions, those only apply under the current tax system, which I do not necessarily support. If folks were taxed on a flat percentage basis regardless of income and deductions were no longer allowed, charitable contributions would no longer apply. How about a value added tax, i.e. national sales tax?