Good for Gingrich. The system is set up this way, and we should all strive to do the same thing. Why should any one person need to pay that much into Medicare to pay for other people’s healthcare? It is criminal.
At this point I'd vote for Charlie Manson if he ran against the Democrats. He couldn't be any worse.
“It appears that he is not paying his fair share of Medicare tax”
F*** Fair Share!
I never get into tax arguments. There is no winning them. Whatever the IRS decrees or decides, that’s the win.
That said, be aware that when the nomination is sewn up, the nominee will be under investigation by the IRS. Make that “criminal investigation.” Obama will see to it. And you don’t want it to be an investigation of Romney, which would go on forever and not one in a thousand voters would be able to follow the explanation.
Gingrich’s tax situation is, on the other hand, something most brains can press without herniating.
GOOD!
I am HAPPY he paid as little taxes as possible.
I would vote for him even more now, over “Proud to Pay Taxes” Romney
WHEN ARE ANY OF THEM GOING TO TALK ABOUT THE GOVERNMENT SPENDING $100,000 TO HAND OUT $27,000 IN WELFARE? That’s the equivalent of nearly a full-time government employee for every family on Welfare.
Just like I posted on thread about Romney’s tax returns: he followed the law. I applaud his tax strategies.
No one should bash Romney for his tax return and then give Gingrich a pass. They both followed wise tax strategies that most CPAs employe every day for their clients.
I’m sure he’s had business records vetted for years and years. If the IRS didn’t grab them, then I don’t see the problem.
He paid more in taxes than GE did. Just sayin’
The income from a company is derived from both services and from the investment of capital that its owners make. Capital can be money and/or goodwill.
The medicare tax is only on salary. If Newt was paid a fair salary for his services, there is no underpayment of tax.
The headline and text is meant to mislead.
Yes, the IRS has attacked this method of minimizing tax debt before -- WHEN IT IS ABUSED.
There is no indication here that this method of minimizing tax debt was abused.
“Robert E. McKenzie, a partner in the Chicago law firm of Arnstein & Lehr LLP...”
... and then I stopped reading.
You posted the article. What’s your comment?
Yep, I do the same every month. Pay myself as little salary as legally possible to minimize payroll taxes (most of which don’t do a damned thing for me anyway), and take the rest in dividends.
I’d think he was stupid if he didn’t, and wouldn’t believe a word he said on tax reform or economics in general.
There's part of that old Chicago underground. Ya think?
The only relevant question here is whether or not Gingrich broke any tax laws. I (and millions of others) use every legal tax avoidance strategy at our disposal to pay as little taxes as possible, and I highly doubt the majority of GOP voters will see anything wrong with that. This type of thing may hurt him more in the general had it come out then, but highly unlikely to make an impact in the primary.
“It appears that he is not paying his fair share of Medicare tax,’’ Robert E. McKenzie, a partner in the Chicago law firm of Arnstein & Lehr LLP concluded,...”
That is an odd way to put it. Why not just say he has illegally avoided paying the correct amount of Medicare tax? or is is perhaps more complex and subject to interpretation than that?
Why couldn’t Michele Bachmann render an opnion on the Gingrich and Romney tax returns now? After, she is a former IRS Tax Attorney, as we heard innumerable times last summer and fall.
I was listening to NPR on my way to work this morning. Romney paid 14.5% the last two years in taxes. Gingrich paid 30%.
I don’t know what Obama paid.
Dude! You’re posting more threads without commenting, reading or replying to this thread.
What the hell??
What is your take on this article?
More cognitive dissonance from the left on how Conservatives are both overachievers and stupid. Former Speaker and History Professor stealthily navigates and evades tax laws on his own while earning millions. Bumbling George W masterminded the Twin Towers attack. Old Man Reagan was senile, yet brought down the Berlin Wall, traded arms for hostages, created AIDS to kill off undesirables, and so on.
How about journalism majors were the dumbest majors on campus. They didn’t even have to know algebra.
OK let’s just get down to the nuts and bolts of the issue; The Media and “keep it the same elite Republicans” want Newt out.....so to them (for now only) Newt is Bad and Romney is good! Their goal is to get Romney as the GOP then they will turn on him.......GO NEWT!