Romney/Ryan Lose 2012 Election Thread

[BRAVEONAWARPATH]

http://www.dailykos.com/story/2012/1...m-1996-To-2009

Breaking: Romney Paid Zero Taxes From 1996 To 2009

http://www.bloomberg.com/news/2012-1...donations.html

Romney Avoids Taxes via Loophole Cutting Mormon Donations


In 1997, Congress cracked down on a popular tax shelter that allowed rich people to take advantage of the exempt status of charities without actually giving away much money.

Individuals who had already set up these vehicles were allowed to keep them. That included Mitt Romney, then the chief executive officer of Bain Capital, who had just established such an arrangement in June 1996.

The charitable remainder unitrust, as it is known, is one of several strategies Romney has adopted over his career to reduce his tax bill. While Romney’s tax avoidance is legal and common among high-net-worth individuals, it has become an issue in the campaign. President Barack Obama attacked him in their second debate for paying “lower tax rates than somebody who makes a lot less.”

In this instance, Romney used the tax-exempt status of a charity -- the Mormon Church, according to a 2007 filing -- to defer taxes for more than 15 years. At the same time he is benefiting, the trust will probably leave the church with less than what current law requires, according to tax returns obtained by Bloomberg this month through a Freedom of Information Act request.

[Hersh]

His platform was true conservative.

Wait a second. Mitt Romney's platform is way more conservative than Bush. Though you said you didn't care about platforms so I don't know how you can claim Bush to be a conservative based on his platform. Than again, all we've heard from the Right is that Bush wasn't a true conservative based on his spending and immigration reform. You are a perfect Romney voter. Can't even justify your own position with facts.

[SkinsFTW]

Breaking-Romney-Paid-Zero-Taxes-From-1996-To-2009

Its funny hearing this. I'm not even sure if it's true either but who wouldn't take advantage of a chance to not pay taxes? Are you saying that if the government gave you the option you'd keep paying them?

This sounds a lot like people getting mad because veterans like me who served in the military for 20+ years get a pension. I retired at 38 and will get 50% of my base pay partially tax free until I die but a lot of people act like I'm stealing from the government or I'm lucky now that my 20 years of hell is over, lol. Those are the rules and I took advantage of them as written. Should I turn the pension down for serving the country 20 years during multiple wars and constant conflict around the world?

[Larry]

http://www.dailykos.com/story/2012/1...m-1996-To-2009

Just pointing out a few pesky details.

Neither of those articles actually says that Romney paid no taxes those years. (Or for any of those years, for that matter.)

Rather, what the Bloomberg article (which I suspect Kos is intentionally misreading) says is that Romney donated a tiny fraction of his net worth to a trust. The trust has been paying him an 8% return on the money he invested. (And Romney has to pay taxes on those payments, when he receives them.) Romney received what Bloomberg says was a small tax write-off, the year he set up the trust. Any profit which the trust makes (that isn't paid to Romney) doesn't get taxed.

It certainly sounds slimy, to me. (Especially the part about how the amount of the trust keeps going down. Eventually, the Church will receive whatever Romney hasn't drained from the trust.)

But it looks like it's a tiny fraction of his money, and he actually is (according to Bloomberg) paying taxes on the money he takes out.

To me, it's slimy looking, but really of very little importance.







http://www.bloomberg.com/news/2012-1...donations.html[/QUOTE]

[renaissance]

I

This sounds a lot like people getting mad because veterans like me who served in the military for 20+ years get a pension. I retired at 38 and will get 50% of my base pay partially tax free until I die but a lot of people act like I'm stealing from the government or I'm lucky now that my 20 years of hell is over, lol. Those are the rules and I took advantage of them as written. Should I turn the pension down for serving the country 20 years during multiple wars and constant conflict around the world?

What an excellent comparison...

[Corcaigh]

So far today by 3pm I've received eight robo calls from RNC or supporting organizations (zero from Dems). All the calls were hiding their number on caller ID. Seriously, they can go **** themselves.

Now ten for the day ...

[Kindred]

Its funny hearing this. I'm not even sure if it's true either but who wouldn't take advantage of a chance to not pay taxes? Are you saying that if the government gave you the option you'd keep paying them?

This sounds a lot like people getting mad because veterans like me who served in the military for 20+ years get a pension. I retired at 38 and will get 50% of my base pay partially tax free until I die but a lot of people act like I'm stealing from the government or I'm lucky now that my 20 years of hell is over, lol. Those are the rules and I took advantage of them as written. Should I turn the pension down for serving the country 20 years during multiple wars and constant conflict around the world?

Are you comparing a benefit you risked your life to earn with somebody exploiting a loophole to avoid paying their fair share of taxes? legal it may have been. Morally ethical and socially responsible it was NOT. If there were only 2 people paying taxes, you and Romney, you wouldnt have received your pension because Romney's rich ass avoided paying for it.

[twa]

Now ten for the day ...

Wearing ya down yet?

[Corcaigh]

Wearing ya down yet?

Quite the opposite, in fact.

[Monte51Coleman]

Its funny hearing this. I'm not even sure if it's true either but who wouldn't take advantage of a chance to not pay taxes? Are you saying that if the government gave you the option you'd keep paying them?

This sounds a lot like people getting mad because veterans like me who served in the military for 20+ years get a pension. I retired at 38 and will get 50% of my base pay partially tax free until I die but a lot of people act like I'm stealing from the government or I'm lucky now that my 20 years of hell is over, lol. Those are the rules and I took advantage of them as written. Should I turn the pension down for serving the country 20 years during multiple wars and constant conflict around the world?

That's one hellova career for a 7 year old.

(Thanks for your service.)

[Prosperity]

Now ten for the day ...

looks like somebody is a Likely Republican Voter

[Koolblue13]

Looks like Romney will be running for PotUS in a few days again huh.

[twa]

Looks like Romney will be running for PotUS in a few days again huh.

For reelection

[Koolblue13]

For reelection

That's absurd. America can't be that dumb.

*I'm still taking the stance that his nomination is ridiculous and if he wins, America is truly lost*

[Larry]

looks like somebody is a Likely Republican Voter

I been getting a lot of them, too. And there isn't a Likely Republican Voter in the house.

I've had three robocalls from a recorded Doctor who wants to tell me about how Obama has taken medical decisions away from my doctor. And the most recent was urging me to vote pro-life.

---------- Post added November-4th-2012 at 09:44 PM ----------

That's absurd. America can't be that dumb.

*I'm still taking the stance that his nomination is ridiculous and if he wins, America is truly lost*

I don't see anything wrong with his nomination.

Far as I'm aware, all Republicans have the same dangerous positions that he does.

In fact, I think in some ways, he was the least dangerous person running.

For example, I think he was the only one who wasn't promising to completely eliminate all taxes on himself.