Dem Lawmakers Want Answers About Romney’s Enormous IRA

[blacken700]

If Romney is trying to hide something... then what is Obama trying to hide?

hahahaha your a birther, i had you pegged as someone fairly smart

[Shockwave]

hahahaha your a birther, i had you pegged as someone fairly smart

You got that out of a political cartoon?
Methinks you may be looking a little too deep into this.

[howardroark]

hahahaha your a birther, i had you pegged as someone fairly smart

Actually smarter than your dumb commie ass and actually not a birther, I was referring to Obama's college transcripts as well as Fast & Furious.

So, according to your logic, if Romney is trying to hide something by not releasing his tax returns, then what is Obama trying to hide?

[blacken700]

Actually smarter than your dumb commie ass and actually not a birther, I was referring to Obama's college transcripts as well as Fast & Furious.

So, according to your logic, if Romney is trying to hide something by not releasing his tax returns, then what is Obama trying to hide?

i guess i pegged you way wrong

[howardroark]

i guess i pegged you way wrong

What is Obama trying to hide with Fast and Furious? Could it be the murder of hundreds?

[Vince G, CSN MFT]

So fucking what? I guess being successful in this country is a crime now? Oh I get it you don't think they should have that much, so the government should step in and set things right

Its not a crime however putting 100 million dollars in an IRA to avoid taxes isn't  cool.


IRA's were meant to help the poor and middle class buile savings for retirements without taxes......its not for the rich to avoid paying taxes since the wealthy have no need for a "retirement plan"...

[tonymctones]

Its not a crime however putting 100 million dollars in an IRA to avoid taxes isn't  cool.


IRA's were meant to help the poor and middle class buile savings for retirements without taxes......its not for the rich to avoid paying taxes since the wealthy have no need for a "retirement plan"...

really, more bs about the rich?

you guys are a one song band guys...

give it fucking up already.

[blacken700]

don't say nothing about the rich because someday i'm going to be one of them     pipe dream

[tonymctones]

don't say nothing about the rich because someday i'm going to be one of them      pipe dream

LMFAO who care is you are or wont be.

I dont hold anything against them for their success, why do you?

[blacken700]

Its not a crime however putting 100 million dollars in an IRA to avoid taxes isn't  cool.


IRA's were meant to help the poor and middle class buile savings for retirements without taxes......its not for the rich to avoid paying taxes since the wealthy have no need for a "retirement plan"...

[Straw Man]

Its not a crime however putting 100 million dollars in an IRA to avoid taxes isn't  cool.


IRA's were meant to help the poor and middle class buile savings for retirements without taxes......its not for the rich to avoid paying taxes since the wealthy have no need for a "retirement plan"...

IRA's are not just for the poor and middle class and the issue is HOW he could accumulate that balance without exceeding contribution limits.   It just doesn't seem possible without an unbelievable/impossible ROI

[Soul Crusher]

IRA's are not just for the poor and middle class and the issue is HOW he could accumulate that balance without exceeding contribution limits.   It just doesn't seem possible without an unbelievable/impossible ROI

Like Harry Reid's land deals? 

[Straw Man]

Like Harry Reid's land deals? 

what's that got to do with Romney possibly/likely exceeding the legal contribution limits in his IRA ?

[Soul Crusher]

what's that got to do with Romney possibly/likely exceeding the legal contribution limits in his IRA ?

It means you far left wing freaks dont give a damn about ethics unless it means diverting attention away from obamas failed record that he cant and refuses to run on. 

[Kazan]

Its not a crime however putting 100 million dollars in an IRA to avoid taxes isn't  cool.


IRA's were meant to help the poor and middle class buile savings for retirements without taxes......its not for the rich to avoid paying taxes since the wealthy have no need for a "retirement plan"...

OK, so why is this even an issue? No crime committed, nothing to see here, move along.

[Shockwave]

OK, so why is this even an issue? No crime committed, nothing to see here, move along.

But, but, but he's violating the SPIRIT of the program!! 

[Straw Man]

It means you far left wing freaks dont give a damn about ethics unless it means diverting attention away from obamas failed record that he cant and refuses to run on. 

why do you keep making assertions that aren't true

just yesterday you started a thread abotu Harry Reids son and his represenation of a Chinese solar company and this was my response

 

congress has written all  kinds of ubelievable exemptions for themselves

until recently they were able to legally profit from inside information and I believe their families are still able to do so

how the fuck can anyone justify that ?

this therad is about Romney and his IRA

If you want to start another thread about Reid or Obama than have it but stop trying to change the subject

[Straw Man]

OK, so why is this even an issue? No crime committed, nothing to see here, move along.

Assuming this is an individual IRA and not a SEP (the #'s still don't work with a SEP) can you create some example where contributions of 6k a year (the current maximum allowable contribution if you're over 50) can turn turn into 100,000,000

I think it's likely he rolled it from another retirement account (maybe his  401k from Bain) but even those types of accounts have limitation on contributions

The only other answer is a return on investment that is almost impossible to comprehend but then again maybe he had IP0 stock that he got for pennies that are now worth $400 a share or something like that

The questions being asked are definitely valid but I suspect they won't go anywhere

[Kazan]

Assuming this is an individual IRA and not a SEP (the #'s still don't work with a SEP) can you create some example where contributions of 6k a year (the current maximum allowable contribution if you're over 50) can turn turn into 100,000,000

I think it's likely he rolled it from another retirement account (maybe his  401k from Bain) but even those types of accounts have limitation on contributions

The only other answer is a return on investment that is almost impossible to comprehend but then again maybe he had IP0 stock that he got for pennies that are now worth $400 a share or something like that

The questions being asked are definitely valid but I suspect they won't go anywhere

Exactly, it won't go anywhere, but the prospect of impropriety has been put out there. It's just more non-sense from DC. Distraction from the real problems facing the nation. They don't want us focused on how fucked up things really are.

[Straw Man]

Exactly, it won't go anywhere, but the prospect of impropriety has been put out there. It's just more non-sense from DC. Distraction from the real problems facing the nation. They don't want us focused on how fucked up things really are.

I said I suspect won't go anywhere (last time I checked the Repubs controlled the House) but it's totally fair game in a presidential election to scrutinize anything you can about a canditate and this area (allegations of tax dodging) are a huge and legitimate weakness for Romney and he can bellyache about it all he wants but it won't just go away

[Primemuscle]

The rich again, do you really buy into the class warfare bullshit?

You should because there's going to be a revolution someday soon. Off with their heads!

[Primemuscle]

LMFAO so only poor and middle class ppl should benefit from IRA's?

what is your justification for this blacken?

It's simple, if there is a $5,000 limit on what one can contribute annually to an IRA in pre-tax dollars, the chances of someday (in Romney's case, about twenty years later) having $100,000,000 in one's IRA is zip unless you're doing some creative tax evasion. For most of us regular folks who pay our taxes,  and who contibute $5,000 annually for most of our working lives, it results in modest IRA accounts which definitely leave us in the middle-class at retirement, if even that well off.

[Primemuscle]

So fucking what? I guess being successful in this country is a crime now? Oh I get it you don't think they should have that much, so the government should step in and set things right

It is not a crime to be rich unless you do it illegally. Tax evasion is against the law.

[Primemuscle]

so youre taking the approach that romney broke the law again and is a felon?

goodness gracious how is this man not serving 3 life terms?

whats this the 2nd or 3rd crime he has committed?

Unfortunately, many people cheat on their taxes in the U.S. Some more than others. Even when they are caught and found guilty of tax evasion they don't often end up in prison. Usually, they just pay fines and back taxes and their good to go at it again. Most tax evaders are never caught, despite what the IRS and the media like to portray to the public around tax time.

[Primemuscle]

Wait... people are complaining that he used a legal program?
Somehow what he did was wrong because he is rich?

What the hell is with people acting like the rich are somehow evil because theyre better off? Goddamn, Im poor, and I dont bitch because rich people have more money and are more successful that I am.

There is no crime in being rich, although it sometimes ticks some less advantaged folks off when you are. The question is, did Romney do something illegal to amass this fortune? Furthermore, the public generally holds the President to a higher standard and he wants to be our President. So even if what he did was not illegal but perhaps just unethical, it could cause him problems. Even if he gets elected, he may be investigated further if someone feels he evaded paying taxes.