Romney donates over $4 million to chairty; 30% of income

• QuakerOats

  Romney releases taxes: http://www.weeklystandard.com/blogs/...es_652850.html
  
  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.
  
  
  Tell Dirty Harry Reid to go f#$% himself.
• ptown_trojans_1

  

  Good for him. I would guess that most, if not all of that, went to the Mormon church.
• IggyPride00

  

  The decision to pay more income taxes than he is required to runs contrary to Romney’s previous statements.
  
  “If I had paid more than are legally due, I don’t think I’d be qualified to become president,” Romney said in an interview in July.
  

  [LEFT]
  I like how Willard had to way over pay just to hit a 14% effective rate. He will amend his returns assuredly after the election is over and take those deductions to get the money back that he left on the table just so Democrats couldn't point and say he has a tax rate in the single digits.
  http://www.politico.com/news/stories/0912/81528.html#ixzz278mNgEx8
  [/LEFT]
• IggyPride00

  

  ccrunner609;1276919 wrote:cry a little more about it. All he is doing is what millions of others do, they use the same system that everyone else uses in regards to taxes. Why do all of you left wing nuthuggers care what others do with their money? You act like what he is doing is illegal.
  
  If his tax procedures are legal then who cares. Get over the fact that some people are rich and some arent. Post about the 49% of people that pay nothing if you want to bitch.

  Liberal?
  
  That's the first time I have ever been called that. A first for everything I guess.
• gut

  Yeah, I would still think the Mormon church does a lot of good with the donations to it. So in some respects it's kind of like giving to United Way (but any Church has WAY more overhead).
  
  As for the tax rates, it's such a fraudulent debate. Wealthy people get the bulk of their income from capital gains and tax-free govt bonds. That's the way the code has been set-up to - surprise! - encourage investment. Even then, capital gains/dividends were already taxed the first-time when earned as ordinary wages before being invested, taxed a second time at the corporate level, and then a third time at 15%. It's all coming out of corporate profits, which are already taxed at the highest rates in the developed world...as opposed to wages which are NOT taxed at the corporate level.
  
  Cry all you want about "fairness", but investors (domestic AND foreign) care about after-tax returns. The surest way to send investment overseas is to punish it with the tax code.
• Belly35

  

  ptown_trojans_1;1276914 wrote:Good for him. I would guess that most, if not all of that, went to the Mormon church.

  so now you pull out the religious card wow PT1 that is scraping bottom, when you got shit to follow.. this is what you come up with
• ptown_trojans_1

  

  Belly35;1276942 wrote:so now you pull out the religious card wow PT1 that is scraping bottom, when you got **** to follow.. this is what you come up with

  ccrunner609;1276918 wrote:Who cares where it went.....he gave it away.

  lol, yes, I did "play" that card. It not really a card, as Mormons are known to give very liberally to their church. It is not a slam at all. I applaud him for the donations. Just saying, most of it is more than likely to the church as that is what Mormons do.
  
  If people can give as liberally as they can to charities or religious organizations, that is great. I do it myself to organizations.
• ptown_trojans_1

  

  ccrunner609;1276957 wrote:Then worry about money and not others money. If all you can find on Romney is to bitch about what he does with his money then you should leave.

  No bitching, just saying, good for him.
  
  And, I'll keep that in mind next time Obama is nailed for donations to liberal organizations and charities.....
• BoatShoes

  We're talking about a guy here who said "If I paid more in taxes than I was legally obligated I don't think I'd be qualified to be President." Then, he releases his 2011 tax return which proves that he paid more in taxes than he would have been legally obligated too if he had claimed his full deduction like a reasonable economic actor would do. According to his own reasoning "He's not qualified to be President" because he paid more to the inefficient/unproductive sector; the government, then he should have.
  
  But then again, the whole reason he obviously did it was so that he wouldn't have paid a single digit tax rate which he claims he's never paid (nevermind that he can always amend his return). It lends credence to the argument the Harry Reid's of the world are making about previous year returns.
  
  Remember what Romney's dad said when he released 12 years of returns; "one or two years could be a fluke." Romney is feeding all of this stuff again!
  
  This just adds fuel to the fire that is the tax return issue which had disappeared from the news for the most part!
  
  How could they have thought this was a good idea if he wasn't just going to come out with returns from earlier years? This campaign is blowing my mind.
• WebFire

  My effective rate in 2011 was 1.97%.
• gut

  Why are we arguing about a single-digit effective rate (if that's even true) when that's achieved by GIVING AWAY money to charity?
  
  The only way to get below the 15% cap gains rate is charitable contributions (ohhh, how evil), tax-free govt bond interest (ohhhh, how greedy), or tax-exempt IRA/401k distributions (because contributions were after-tax).
  
  And I've already explained the cap gains "15%" rate. The whole argument is nothing more than obfuscation. The wealthy pay the vast majority of the taxes. The main reason we can't afford our ever-bloating govt is because we don't have a 19% VAT and SS/medicare contributions are also too low.
• tcarrier32

  

  
• ptown_trojans_1

  

  ccrunner609;1277000 wrote:yeah that really adds to the conversation.

  Pot meet kettle.
  
  I could make that comment on over half the posts on this board.....
• sleeper

  

  This may be the first time I agree with CCRunner. I enjoyed your posts, CC.
  
  Gut as well, but I always enjoy gut's posts.
• QuakerOats

  BoatShoes;1276963 wrote:We're talking about a guy here who said "If I paid more in taxes than I was legally obligated I don't think I'd be qualified to be President." Then, he releases his 2011 tax return which proves that he paid more in taxes than he would have been legally obligated too if he had claimed his full deduction like a reasonable economic actor would do. According to his own reasoning "He's not qualified to be President" because he paid more to the inefficient/unproductive sector; the government, then he should have.
  
  But then again, the whole reason he obviously did it was so that he wouldn't have paid a single digit tax rate which he claims he's never paid (nevermind that he can always amend his return). It lends credence to the argument the Harry Reid's of the world are making about previous year returns.
  
  Remember what Romney's dad said when he released 12 years of returns; "one or two years could be a fluke." Romney is feeding all of this stuff again!
  
  This just adds fuel to the fire that is the tax return issue which had disappeared from the news for the most part!
  
  How could they have thought this was a good idea if he wasn't just going to come out with returns from earlier years? This campaign is blowing my mind.

  
  
  Absolutely F#%^%^ incredible ..................... get another pinot grigio, and hi to sherod brown.
• tcarrier32

  

  ccrunner609;1277000 wrote:yeah that really adds to the conversation.

  trust me, that picture has more content than anything you have posted.
  
  
• BoatShoes

  ccrunner609;1276967 wrote:and once again....why does anyone care what others have or do with their money? Your posts just read like pure jealousy.
  
  Romney "NEVER" once did something illegal. If the system that everyone plays by is followed then who cares. MR pays capital gains taxes that are at a lower rate then others. Who cares. If you want to bitch, bitch about the people that pay nothing into the system. There are millions of them.

  1. Well, most people really don't care...that's why it's stupid for this campaign that is trying to win the presidency to put this issue back in the news.
  
  2. There is some thought amongst tax experts that the reason he is so adamant about not releasing his 09 return is because he took part in the IRS amnesty program for people with Swiss bank accounts that illegally failed to disclose them to the IRS. So it's plausible that he's done something illegal and people are interested in that if you're going to decide to run for president.
  
  3. People who pay nothing federal income taxes...right like we've covered...white males in rural areas with moderate to low incomes who donate to church and have children....hmmm
• BoatShoes

  QuakerOats;1277058 wrote:Absolutely F#%^%^ incredible ..................... get another pinot grigio, and hi to sherod brown.

  It is your guy who is shitting his opportunity to become president down his leg when it was nearly handed to him on a silver platter. Perhaps you will go with something a bit stronger.
• BoatShoes

  gut;1276971 wrote:Why are we arguing about a single-digit effective rate (if that's even true) when that's achieved by GIVING AWAY money to charity?

  Because it was your boy who released his one return and put the issue back in the news only to add more speculation about his previous returns! A reasonable person could believe that he's lying about prior year's rates.
  
  Still some time left but time Romney is failing every chance he gets...
• mucalum49

  

  BoatShoes;1277160 wrote:1. Well, most people really don't care...that's why it's stupid for this campaign that is trying to win the presidency to put this issue back in the news.

  Maybe to offset the video where people hear him say he doesn't care about 47% of the people. Despite talking about trying to win their votes in the election it has been spun some places to make it seem like he said he doesn't care in general.
• Belly35

  

  ptown_trojans_1;1276944 wrote:lol, yes, I did "play" that card. It not really a card, as Mormons are known to give very liberally to their church. It is not a slam at all. I applaud him for the donations. Just saying, most of it is more than likely to the church as that is what Mormons do.
  
  If people can give as liberally as they can to charities or religious organizations, that is great. I do it myself to organizations.

  Why did Obama give in the same period. Percentage per percentage income?
• Belly35

  

  Where the Obama educational transcript. What a coward and thief Well know he claimed he was a Kenya citizen.
• ptown_trojans_1

  

  Belly35;1277358 wrote:Why did Obama give in the same period. Percentage per percentage income?

  Not sure, but in the grand scheme of things, it does not matter.
  
  My whole point was saying as Mormon, Romney is obligated to give a high percentage, as he can to the church. So, the fact he gave 30% is not a big deal for me. Good for him.
  
  

  Belly35;1277362 wrote:Where the Obama educational transcript. What a coward and thief Well know he claimed he was a Kenya citizen.

  Irrelevant.
  Yes, let's base out voting on transcripts and birth certificates.
  You guys speak of changing the conversation, this is the sort of garbage that is on this board.
  It is irrelevant, has no impact on policy, and does nothing but distract about the real issues of the matter.
  
  Who cares about a transcript? Will that really sway a voter? I highly doubt it. It only serves the vocal minority that have a vendetta against the President, who honestly believe he is pretty much the anti-Christ, and have no concept of rational thought or analytic debate.
  
  But, carry on with your BS theories and crazy ideas that the President is a dictator, Commie, Kenyan, and will lead to the destruction on the U.S.
  
  Is it possible to quote something not from a right wing site, or fox news?
  What a joke of a board this has become honestly.
• gut

  BoatShoes;1277166 wrote:Because it was your boy who released his one return and put the issue back in the news only to add more speculation about his previous returns! A reasonable person could believe that he's lying about prior year's rates.
  
  Still some time left but time Romney is failing every chance he gets...

  Or, simply, that he doesn't want to make the election about his wealth and what he's done with his money. Which is why the Dems keep trying to make it an issue - anything to distract from Obama's lousy record and awful leadership.
• ptown_trojans_1

  

  gut;1277396 wrote:Or, simply, that he doesn't want to make the election about his wealth and what he's done with his money. Which is why the Dems keep trying to make it an issue - anything to distract from Obama's lousy record and awful leadership.

  Yes, because Romney has detailed how he will be a leader.
  Oh wait, he has not.
  
  He has not plan to work with Congress. He has no concept on how to reach across the aisle.
  He has not spoken to how he will handle the tax issue if Congress does nothing.
  
  But yes, no specifics is still better than awful Obama....
  
  Didn't R's nail D's in 2008 for making that same claim? Lack of specifics are better than the awful current incumbent party (R's)?
  Oh, but this time is different. Right, I forgot. Please.