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Mitt Romney
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<blockquote data-quote="moreluck" data-source="post: 931477" data-attributes="member: 1246"><p>Mitt paid millions in taxes and as a Mormon tithes 10% to his church......the Mormon church is a church. We have freedom of religion and can pick what church we want to attend.</p><p></p><p>""Nevertheless, and contrary to popular perception, Romney's effective federal income tax rate is still above that of many Americans -- <a href="http://money.cnn.com/2012/01/18/news/economy/Romney_effective_tax_rate/index.htm?iid=EL" target="_blank">80% of whom have an effective rate below 15%</a>. That tax rate is higher when other federal taxes -- such as the payroll tax -- are included.</p><p>The reason Romney's rate is so low -- despite having one of the highest incomes in the country -- is because his income was derived almost entirely from capital gains and dividends from his extensive portfolio of investments. And that form of <a href="http://finance.fortune.cnn.com/2012/01/23/romneys-taxes-what-to-look-for/?iid=EL" target="_blank">investment income</a> is typically taxed at just 15%, well below the 35% top tax rate for high earners.</p><p>Another reason: He had extensive itemized deductions, which lowered his overall tax liability."</p><p></p><p></p><p>"Romney and his wife, Ann, gave away more than $7 million over the past two years -- or about 16% of their income. Of that, $4.1 million went to the Church of Jesus Christ of Latter-day Saints, to which they belong. "</p><p></p><p>Click below for the CNN story.....</p><p></p><p><a href="http://money.cnn.com/2012/01/24/news/economy/Romney_tax_return/index.htm?section=money_topstories" target="_blank">What's in Mitt Romney's tax return - Jan. 24, 2012</a></p></blockquote><p></p>
[QUOTE="moreluck, post: 931477, member: 1246"] Mitt paid millions in taxes and as a Mormon tithes 10% to his church......the Mormon church is a church. We have freedom of religion and can pick what church we want to attend. ""Nevertheless, and contrary to popular perception, Romney's effective federal income tax rate is still above that of many Americans -- [URL="http://money.cnn.com/2012/01/18/news/economy/Romney_effective_tax_rate/index.htm?iid=EL"]80% of whom have an effective rate below 15%[/URL]. That tax rate is higher when other federal taxes -- such as the payroll tax -- are included. The reason Romney's rate is so low -- despite having one of the highest incomes in the country -- is because his income was derived almost entirely from capital gains and dividends from his extensive portfolio of investments. And that form of [URL="http://finance.fortune.cnn.com/2012/01/23/romneys-taxes-what-to-look-for/?iid=EL"]investment income[/URL] is typically taxed at just 15%, well below the 35% top tax rate for high earners. Another reason: He had extensive itemized deductions, which lowered his overall tax liability." "Romney and his wife, Ann, gave away more than $7 million over the past two years -- or about 16% of their income. Of that, $4.1 million went to the Church of Jesus Christ of Latter-day Saints, to which they belong. " Click below for the CNN story..... [URL="http://money.cnn.com/2012/01/24/news/economy/Romney_tax_return/index.htm?section=money_topstories"]What's in Mitt Romney's tax return - Jan. 24, 2012[/URL] [/QUOTE]
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