What is Mitt Romney Hiding? (It's Starting To Look Like Romney Has A Dirty Tax Secret)

Middle Class Economist ^ | 07/07/2012 | Kenneth Thomas

[CommerceComet]

What does this have to do with anything? Since when does Vanity Fair care about how much money people contribute to their church?

I think that you're making too much of this. If Mitt is tithing far more than 10% of his reported income, it could indicate unreported income. He wouldn't be the first person who has been caught in violation of tax laws because he was more honest with the church than with the government.

[Selene]

“Do you really believe 40% of it ($102mm) is in IRAs?”

No

$1.02 mil is possible.

[Selene]

“Do you really believe 40% of it ($102mm) is in IRAs?”

No

$1.02 mil is possible.

[Maurice Tift]

   Do you really believe 40% of it ($102mm) is in IRAs?




  I think there must be a way to find out...

  "You know, I don't know how many years I'll release. I'll take a look at what the -- what our documents are and I'll release multiple years. I don't know how many years, and -- but I'll be happy to do that."

... (during an interview) "I actually disclosed in a financial disclosure statement all of the assets which I own, and I think the estimate in there was a pretty wide range, it's been widely reported and my net worth is within that number... It's between $150 and about $200-and-some-odd million dollars, I think that's what the estimates are."

but asking Romney probably isn't the best way to do it.

[Perdogg]

Are you suggesting we confiscate his wealth?

[muawiyah]

If you had a 401(k) early on in the game that purchased stock in some high flying company like Bain, or Microsoft, it could easily be worth a vast sum.

Go back to just 2004 and set up a fictitious fund worth $8,000 ~ about the most you could stick in such an account at the time.

Bring it forward to 2012 ~ today ~ reinvesting all dividends.

Now that makes a whopping big fund!

[muawiyah]

I’d like to be taxed on my profits as well. And you?

[9YearLurker]

I don’t even see anything unethical in his tax returns as reported. (And I’m no fan of Romney.)

[muawiyah]

Perdogg, you've been around here for years as have I. You know I am far more Conservative than you can ever be ~ so why would you want to know if I would confiscate Romney's wealth?

Seems to me you have begun working with several other Mittbots in tossing what you imagine to be dynamite to other Freepers so they can misstate something and you can cackle.

Didn't work, and doesn't work. You people have a problem ~ try keeping it to yourself.

[muawiyah]

There are some funds that are a tad older than the 401(k) that did pretty much the same thing and I think the story here is that Romney was allowed to transfer the money he had invested in those funds into a 401(k).

You can find out about such funds by looking at just about any article on "history of 401(k)" plans.

[Roses0508]

Preacher’s kid here. Many people tithe more than 10% of their income. I do myself. The odd thing about tithing is I never seem to miss the money. Tithing in excess of 10% is not necessarily an indicator that the person is under reporting income to the IRS - although I’m sure the IRS will automatically assume so.

[muawiyah]

Another response ~ regarding your thought that I could even imagine seizing Romney's wealth, I think that proves something very important about your philosophy of government as well as that of your boy Romney.

You folks not only don't automatically see the world as Conservatives see it (we don't confiscate wealth for example, nor do we kill babies for convenience) you do not even understand what a Conservative philosophy is.

How can you expect to govern America with a Congress that's majority Conservative?

Won't that be terribly frustrating to you ~ send drafts of policy changes over to Congress for submission as legislative initiatives and no one sponsors them?

I"m sure you'll think it's a disconnect of some kind, so why not get over that hump now and WITHDRAW Mitt and his Mittbots from this foolish quest for power. Just step aside and let a Conservative move in ~

[CommerceComet]

Tithing in excess of 10% is not necessarily an indicator that the person is under reporting income to the IRS - although I’m sure the IRS will automatically assume so.

You are correct that it doesn't necessarily imply under-reporting but it can which is why questions like this are asked.