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  1. #1
    Atomic Punk
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    Default Left outraged Romney paid too MUCH in taxes, gave 30 percent to charity

    http://twitchy.com/2012/09/21/left-o...n-hardest-hit/


    Mitt Romney is releasing his 2011 tax returns today and released a 20-year snapshot of his tax returns -- capping a difficult week by returning to the campaign a topic that has dogged the candidacy of the Republican presidential nominee since the start of the primaries.

    Romney’s updated tax returns, which will be posted online in full at 3 p.m. on Friday, show that he paid $1.9 million in taxes on $13.7 million in income, most of which came from his investments. It means his effective tax rate for 2011 was 14.1 percent, which is slightly higher than it was in 2010 but still lower than the rate many middle-class Americans pay.

    The Romneys donated $4 million to charity, according to a summary of the returns released early by his campaign. Romney claimed a deduction of $2.25 million from those charitable contributions. He claimed less than he otherwise could have, his campaign said, so that he could still abide by a pledge made in August that he paid at least 13 percent in income taxes in each of the last 10 years.

    Perhaps more significantly, Romney this afternoon is also releasing a summary of his tax returns over a 20-year period, covering the years from 1990 to 2009. That summary, which was done by PricewaterhouseCoopers, says that in each of the last 20 years he owed both federal and state income taxes.

    Over that period, the summary says, the average annual effective federal tax rate was 20.2 percent. The lowest annual effective federal tax rate he paid was 13.7 percent. The Romneys also donated an average of 13.45 percent to charity over that 20-year period.
    "Watch what people are cynical about, and one can often discover what they lack.” -- Gen. George S. Patton

  2. #2
    Atomic Punk
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    Quote Originally Posted by voivod View Post
    http://twitchy.com/2012/09/21/left-o...n-hardest-hit/


    Mitt Romney is releasing his 2011 tax returns today and released a 20-year snapshot of his tax returns -- capping a difficult week by returning to the campaign a topic that has dogged the candidacy of the Republican presidential nominee since the start of the primaries.

    Romney’s updated tax returns, which will be posted online in full at 3 p.m. on Friday, show that he paid $1.9 million in taxes on $13.7 million in income, most of which came from his investments. It means his effective tax rate for 2011 was 14.1 percent, which is slightly higher than it was in 2010 but still lower than the rate many middle-class Americans pay.

    The Romneys donated $4 million to charity, according to a summary of the returns released early by his campaign. Romney claimed a deduction of $2.25 million from those charitable contributions. He claimed less than he otherwise could have, his campaign said, so that he could still abide by a pledge made in August that he paid at least 13 percent in income taxes in each of the last 10 years.

    Perhaps more significantly, Romney this afternoon is also releasing a summary of his tax returns over a 20-year period, covering the years from 1990 to 2009. That summary, which was done by PricewaterhouseCoopers, says that in each of the last 20 years he owed both federal and state income taxes.

    Over that period, the summary says, the average annual effective federal tax rate was 20.2 percent. The lowest annual effective federal tax rate he paid was 13.7 percent. The Romneys also donated an average of 13.45 percent to charity over that 20-year period.
    I want the tax return stuff to just go away.

  3. #3
    Atomic Punk
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    Quote Originally Posted by voivod View Post
    http://twitchy.com/2012/09/21/left-o...n-hardest-hit/


    Mitt Romney is releasing his 2011 tax returns today and released a 20-year snapshot of his tax returns -- capping a difficult week by returning to the campaign a topic that has dogged the candidacy of the Republican presidential nominee since the start of the primaries.

    Romney’s updated tax returns, which will be posted online in full at 3 p.m. on Friday, show that he paid $1.9 million in taxes on $13.7 million in income, most of which came from his investments. It means his effective tax rate for 2011 was 14.1 percent, which is slightly higher than it was in 2010 but still lower than the rate many middle-class Americans pay.

    The Romneys donated $4 million to charity, according to a summary of the returns released early by his campaign. Romney claimed a deduction of $2.25 million from those charitable contributions. He claimed less than he otherwise could have, his campaign said, so that he could still abide by a pledge made in August that he paid at least 13 percent in income taxes in each of the last 10 years.

    Perhaps more significantly, Romney this afternoon is also releasing a summary of his tax returns over a 20-year period, covering the years from 1990 to 2009. That summary, which was done by PricewaterhouseCoopers, says that in each of the last 20 years he owed both federal and state income taxes.

    Over that period, the summary says, the average annual effective federal tax rate was 20.2 percent. The lowest annual effective federal tax rate he paid was 13.7 percent. The Romneys also donated an average of 13.45 percent to charity over that 20-year period.
    I think he donated most of it to Mormon causes? I read something about it on another site and some Christians were not impressed that it was mostly to mormon causes.

  4. #4
    Atomic Punk bklynboy68's Avatar
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    Quote Originally Posted by rocknblues81 View Post
    I think he donated most of it to Mormon causes? I read something about it on another site and some Christians were not impressed that it was mostly to mormon causes.
    And? It's his money. He can donate it to whoever the hell he wants to.
     "He has a swaggering retro machismo that will give hives to the Steinem cabal" -Camille Paglia on Donald Trump

    "Make way for the bad guy"- Tony Montana

    'This hamburger don't need no helper"- David Lee Roth

    "I wish Bon Jovi would've given me a call before he recorded all of his hits, because the lyrics would've been smarter, the melodies would've been much more smashing, and they would've sold a lot fewer records." -David Lee Roth

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    "But being number one doesn’t really mean jack fuck all. We sold twice as many records as other records that year (1984) that landed in the Number One position." ~Eddie Van Halen

  5. #5
    Atomic Punk
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    Quote Originally Posted by bklynboy68 View Post
    And? It's his money. He can donate it to whoever the hell he wants to.
    badabing...
    "Watch what people are cynical about, and one can often discover what they lack.” -- Gen. George S. Patton

  6. #6
    Atomic Punk
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    Quote Originally Posted by bklynboy68 View Post
    And? It's his money. He can donate it to whoever the hell he wants to.
    Don't shoot the messenger please.

  7. #7
    Atomic Punk bklynboy68's Avatar
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    Quote Originally Posted by rocknblues81 View Post
    Don't shoot the messenger please.
    LOL Oh, I wasn't trying to
     "He has a swaggering retro machismo that will give hives to the Steinem cabal" -Camille Paglia on Donald Trump

    "Make way for the bad guy"- Tony Montana

    'This hamburger don't need no helper"- David Lee Roth

    "I wish Bon Jovi would've given me a call before he recorded all of his hits, because the lyrics would've been smarter, the melodies would've been much more smashing, and they would've sold a lot fewer records." -David Lee Roth

    "My beef is people thinking Bon Jovi is good cuz they sold lots of records to housewives." -tango

    "But being number one doesn’t really mean jack fuck all. We sold twice as many records as other records that year (1984) that landed in the Number One position." ~Eddie Van Halen

  8. #8
    Good Enough Rocket's Avatar
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    12.13.17 @ 08:48 AM
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    Where do we sign up for 14% income taxes? Is there a wealthy.com sign up sheet somewhere?

  9. #9
    Unchained gavs5150's Avatar
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    Quote Originally Posted by Rocket View Post
    Where do we sign up for 14% income taxes? Is there a wealthy.com sign up sheet somewhere?
    It's next to the sheet where you sign up to give 34% of your income to charity.

  10. #10
    Atomic Punk bklynboy68's Avatar
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    Quote Originally Posted by gavs5150 View Post
    It's next to the sheet where you sign up to give 34% of your income to charity.
    BAM!
     "He has a swaggering retro machismo that will give hives to the Steinem cabal" -Camille Paglia on Donald Trump

    "Make way for the bad guy"- Tony Montana

    'This hamburger don't need no helper"- David Lee Roth

    "I wish Bon Jovi would've given me a call before he recorded all of his hits, because the lyrics would've been smarter, the melodies would've been much more smashing, and they would've sold a lot fewer records." -David Lee Roth

    "My beef is people thinking Bon Jovi is good cuz they sold lots of records to housewives." -tango

    "But being number one doesn’t really mean jack fuck all. We sold twice as many records as other records that year (1984) that landed in the Number One position." ~Eddie Van Halen

  11. #11
    Good Enough Rocket's Avatar
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    If I make 14 million in passive income - id be happy to give 4 in charity.

    By the way his 20 yr average for charity was much much lower meaning he gave an unusually high charity amount in 2011 for some odd reason..... Huh?? Wonder why?

  12. #12
    Good Enough Rocket's Avatar
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    He's got more skeletons in his closet than a paleontologist.

  13. #13
    Atomic Punk bklynboy68's Avatar
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    Quote Originally Posted by Rocket View Post
    He's got more skeletons in his closet than a paleontologist.
    WHAT?! A politician has skeletons in his closet? THE HELL YOU SAY!
     "He has a swaggering retro machismo that will give hives to the Steinem cabal" -Camille Paglia on Donald Trump

    "Make way for the bad guy"- Tony Montana

    'This hamburger don't need no helper"- David Lee Roth

    "I wish Bon Jovi would've given me a call before he recorded all of his hits, because the lyrics would've been smarter, the melodies would've been much more smashing, and they would've sold a lot fewer records." -David Lee Roth

    "My beef is people thinking Bon Jovi is good cuz they sold lots of records to housewives." -tango

    "But being number one doesn’t really mean jack fuck all. We sold twice as many records as other records that year (1984) that landed in the Number One position." ~Eddie Van Halen

  14. #14
    Atomic Punk lovemachine97(Version 2)'s Avatar
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    I really don't get this. And when it comes to finances, I am by no means an expert.

    But he had to earn this money first, right? So then he paid taxes on it, most likely all the way up to the highest federal bracket.

    He could have then banked what was left and earned a little interest and not really paid anything else out.

    He could have bought stuff with it, which means a state sales tax of somewhere between 6-10%.

    However, he chose to invest the money, which means that he could have lost some just as easily as he made some. If he makes some, that means whatever he invested in is probably doing well, and then he pays taxes on whatever he gained.

    Where's the controversy?

    I argue that this is another--I hate the term class warfare, but it's the best I can think of right now--example class warfare. "Mitt Romney is filthy rich and pays a lower tax rate than you!" No mention, however, that he paid taxes on earned income, invested that money in the economy, and then pays taxes again on what was earned there. Oh, and that amounts to, like, $4 million dollars even at 13%.

  15. #15
    Atomic Punk bklynboy68's Avatar
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    Quote Originally Posted by lovemachine97(Version 2) View Post
    I really don't get this. And when it comes to finances, I am by no means an expert.

    But he had to earn this money first, right? So then he paid taxes on it, most likely all the way up to the highest federal bracket.

    He could have then banked what was left and earned a little interest and not really paid anything else out.

    He could have bought stuff with it, which means a state sales tax of somewhere between 6-10%.

    However, he chose to invest the money, which means that he could have lost some just as easily as he made some. If he makes some, that means whatever he invested in is probably doing well, and then he pays taxes on whatever he gained.



    Where's the controversy?

    I argue that this is another--I hate the term class warfare, but it's the best I can think of right now--example class warfare. "Mitt Romney is filthy rich and pays a lower tax rate than you!" No mention, however, that he paid taxes on earned income, invested that money in the economy, and then pays taxes again on what was earned there. Oh, and that amounts to, like, $4 million dollars even at 13%.
    Class warfare is what it is.
     "He has a swaggering retro machismo that will give hives to the Steinem cabal" -Camille Paglia on Donald Trump

    "Make way for the bad guy"- Tony Montana

    'This hamburger don't need no helper"- David Lee Roth

    "I wish Bon Jovi would've given me a call before he recorded all of his hits, because the lyrics would've been smarter, the melodies would've been much more smashing, and they would've sold a lot fewer records." -David Lee Roth

    "My beef is people thinking Bon Jovi is good cuz they sold lots of records to housewives." -tango

    "But being number one doesn’t really mean jack fuck all. We sold twice as many records as other records that year (1984) that landed in the Number One position." ~Eddie Van Halen

 

 

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