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I spent some time yesterday going through Willard's 2010 return and 2011 estimates of his taxes, and I agree with David Shuster in this segment. There's every possibility that the Romneys paid no income taxes at all in 2009 and possibly also in 2008
Willard's financial disclosures also indicate he profited greatly from foreclosures in Florida, which would certainly explain his desire to let the housing market fall into the tank while he reaped the benefits, both tax-wise and personally.
Romney May Have Paid Zero Taxes In 2009
Seeded on Thu Jan 26, 2012 9:58 PM EST
Article Source: Crooks and Liars- Enjoy this article? Help vote it up the 'Vine.
- Public Discussion (11)
He claims that carried interest payments are already taxed at corporate rates. The problem with that, as we all know, is that very, very few corporations pay the full corporate tax rate of 35 percent. In fact, many corporations have an effective tax rate of zero or even negative rates.
All of this is legal. Even Romney's Swiss bank account is legal. But it speaks to the larger question of whether or not anyone who has never known what it's like to wonder if the kids will eat or the mortgage will be paid can possibly formulate tax policy that would make a lick of sense for anyone but the 1 percent. Since Romney has not exactly demonstrated an aptitude for empathy, I'm guessing not.
Mitt Romney, a man of the people....*gagging*
CoH please
- 2 votes
#1 - Thu Jan 26, 2012 10:01 PM ESTHe's about the top 1% of the top 1%. The guy can really relate to the common folk!
I know there is talk about McCain choosing Palin due to Romney tax returns that would have had to been disclosed. Not sure...
- 2 votes
Surely there were more choices than just those two... hell he could have picked Dan Quayle and won.
If it's legal than change the law, rather than castigate someone for obeying the law. I've done taxes for one of those storefront chains, and it was my responsibility to lower clients' taxes as much as possible. You can of course send the IRS money you do not owe, and they will take it. Warren Buffet and Mitt Romney are welcome to do that. So could you. So could I. But how many would volunteer?
http://www.treasurydirect.gov/govt/reports/pd/gift/gift.htm
But how many would volunteer?
Quite a few. Check out the link.
- 1 vote
Interesting, Joanna. That's definitely a way to be patriotic. But they might get more takers if you could designate your refund for specific purposes. Several states allow you to do this (you must choose from a short list because otherwise people would be coming up with all kinds of vague requests like "help the poor." The debt still gets lowered either way, but people would feel better if they had choices.
In October, Romney suggested that the solution to the foreclosure crisis was “don’t try and stop the foreclosure process. Let it run its course and hit the bottom.” While that process is bad for Florida homeowners, these investments show it may have been good for the Romneys.
It's important to finish Romney's entire statement regarding the foreclosure process and it is:
"...allow investors to buy homes, put renters in them, fix the homes up and let it turn around and come back up."
It's about investments, money, for Romney. And re those blind trusts, not so blind - his very good friend and lawyer is his "trustee."
Mitt Romney, a man of the people....*gagging*
- 2 votes
#2 - Thu Jan 26, 2012 10:35 PM ESTMitt Romney - totally out of touch with reality. He lives in a bubble bought and paid for by those of us who are bitten the hardest by it.
- 1 vote
#3 - Thu Jan 26, 2012 10:47 PM ESTOomYaaqub,
If it all legal that money is kept off shore, and he's already paid all the taxes on it, then why keep money in Swiss accounts and the Caymen
- 3 votes
#5 - Fri Jan 27, 2012 3:30 AM ESTOK - a tongue in cheek question:
If Romney has more money overseas than in America, can we say he still has a vested interest in our country? We've had a lot of wealthy people run for the Presidency, but we've never had someone who made their money in this way before. Isn't the Wall Street culture, in and of itself, unpatriotic?
- 3 votes
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