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Romney avoided $100 million in taxes
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<blockquote data-quote="roadrunner2012" data-source="post: 1050771" data-attributes="member: 40736"><p>Beentheredonethat,</p><p></p><p>There are cheats everywhere, both R & D. The R's seem to be the really big cheats, though.</p><p></p><p>I have no problem using regular tax deductions to minimize your exposure. I do have a problem with the extremely wealthy not paying their share of taxes. Spend some time looking up what Willard has done since the 1990's to obfuscate where his money comes from. Look at his IRA and tell me that he didn't under value stocks knowingly.</p><p></p><p>I found an article that says it much better than I could. Allow me to quote a small portion of it:</p><p></p><p><em>Let’s get one thing straight; the Americans Romney considers parasites are not avoiding paying taxes, using offshore tax shelters, “renting” the Mormon tax exemption, using questionable $100-million IRAs, or <a href="http://www.huffingtonpost.com/2012/09/27/mitt-romney-tax-loophole_n_1919281.html" target="_blank">Swiss Bank accounts</a> like Willard, they are either retired, too poor, or disabled from war to earn enough income to pay taxes. Romney on the other hand, deliberately uses a variety of mechanisms that keep his tax rate lower than the average American, and when one considers there are Fortune 500 corporations and thousands of millionaires who pay nothing in income taxes, Romney’s remarks about the 47% takes on a new level of outrage. One wonders how many wealthy donors paid nothing in income taxes and applauded Romney as he demeaned 47% of the population for not paying taxes, and how many were Mormons who know their filthy rich church also pays no taxes.</em></p><p><em></em></p><p><em>It is no wonder Romney <a href="http://www.huffingtonpost.com/2012/09/27/mitt-romney-tax-loophole_n_1919281.html" target="_blank">refuses</a> to release more than 2 years of tax returns, and no doubt there are secrets that would anger Americans if they knew that he may have avoided any tax liability, but the people will never know. What people do know is Romney avoids paying <a href="http://www.huffingtonpost.com/2012/09/27/mitt-romney-tax-loophole_n_1919281.html" target="_blank">gift and estate</a> taxes by setting up trusts for his kids, stashes millions in the Cayman Islands, and by still playing an <a href="http://www.huffingtonpost.com/2012/08/26/romney-bain-taxes_n_1828816.html" target="_blank">active role</a> at Bain Capital avoids taxes even after he “retroactively retired.” If that is not bad enough, Romney’s tax plan slashes tax rates <a href="http://www.huffingtonpost.com/2012/10/23/larry-summers-mitt-romney_n_2005026.html" target="_blank">by 20%,</a> and since he pays <a href="http://www.huffingtonpost.com/2012/09/27/mitt-romney-tax-loophole_n_1919281.html" target="_blank">less than 15%</a> now, his tax rate would be negative 5% and qualify him for a healthy refund. All the while, the despicable cretin has the temerity to call 47% of the population parasites for not taking responsibility for their lives the same as the Mormon Church that “rents” Willard tax-exempt status, gives him a yearly income, a charitable deduction, and eliminates capital gains tax. The only parasites in America are Romney, his Mormon cult, many of the largest corporations, and thousands of millionaires who pay little or no income taxes by hiding their money and “renting” a church’s tax exemption.</em></p></blockquote><p></p>
[QUOTE="roadrunner2012, post: 1050771, member: 40736"] Beentheredonethat, There are cheats everywhere, both R & D. The R's seem to be the really big cheats, though. I have no problem using regular tax deductions to minimize your exposure. I do have a problem with the extremely wealthy not paying their share of taxes. Spend some time looking up what Willard has done since the 1990's to obfuscate where his money comes from. Look at his IRA and tell me that he didn't under value stocks knowingly. I found an article that says it much better than I could. Allow me to quote a small portion of it: [I]Let’s get one thing straight; the Americans Romney considers parasites are not avoiding paying taxes, using offshore tax shelters, “renting” the Mormon tax exemption, using questionable $100-million IRAs, or [URL="http://www.huffingtonpost.com/2012/09/27/mitt-romney-tax-loophole_n_1919281.html"]Swiss Bank accounts[/URL] like Willard, they are either retired, too poor, or disabled from war to earn enough income to pay taxes. Romney on the other hand, deliberately uses a variety of mechanisms that keep his tax rate lower than the average American, and when one considers there are Fortune 500 corporations and thousands of millionaires who pay nothing in income taxes, Romney’s remarks about the 47% takes on a new level of outrage. One wonders how many wealthy donors paid nothing in income taxes and applauded Romney as he demeaned 47% of the population for not paying taxes, and how many were Mormons who know their filthy rich church also pays no taxes. [/I] [I]It is no wonder Romney [URL="http://www.huffingtonpost.com/2012/09/27/mitt-romney-tax-loophole_n_1919281.html"]refuses[/URL] to release more than 2 years of tax returns, and no doubt there are secrets that would anger Americans if they knew that he may have avoided any tax liability, but the people will never know. What people do know is Romney avoids paying [URL="http://www.huffingtonpost.com/2012/09/27/mitt-romney-tax-loophole_n_1919281.html"]gift and estate[/URL] taxes by setting up trusts for his kids, stashes millions in the Cayman Islands, and by still playing an [URL="http://www.huffingtonpost.com/2012/08/26/romney-bain-taxes_n_1828816.html"]active role[/URL] at Bain Capital avoids taxes even after he “retroactively retired.” If that is not bad enough, Romney’s tax plan slashes tax rates [URL="http://www.huffingtonpost.com/2012/10/23/larry-summers-mitt-romney_n_2005026.html"]by 20%,[/URL] and since he pays [URL="http://www.huffingtonpost.com/2012/09/27/mitt-romney-tax-loophole_n_1919281.html"]less than 15%[/URL] now, his tax rate would be negative 5% and qualify him for a healthy refund. All the while, the despicable cretin has the temerity to call 47% of the population parasites for not taking responsibility for their lives the same as the Mormon Church that “rents” Willard tax-exempt status, gives him a yearly income, a charitable deduction, and eliminates capital gains tax. The only parasites in America are Romney, his Mormon cult, many of the largest corporations, and thousands of millionaires who pay little or no income taxes by hiding their money and “renting” a church’s tax exemption.[/I] [/QUOTE]
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