Posted on 09/22/2012 3:41:14 AM PDT by tobyhill
Democrats say Mitt Romney manipulated his deductions to keep his overall 2011 federal income tax rate below a certain level for political purposes. The Republican presidential nominee is certain to face new questions about his finances.
Romney and his wife, Ann, donated roughly $4 million to charities last year, but they only claimed a deduction of $2.25 million on their tax return, filed with the Internal Revenue Service on Friday.
Romney made $13.7 million last year and paid $1.94 million in federal income taxes, giving him an effective tax rate of 14.1 percent. That was a bit above the 13.9 percent rate paid on 2010 income.
More precisely, the returns showed that the couple paid $1,935,708 in taxes on income of $13,696,951.
Democrats quickly leaped on the documents, saying Romney had claimed fewer deductions than he was entitled to just to keep his rate at such a level.
(Excerpt) Read more at washingtonpost.com ...
So, not only did he pay more for political purposes... he released his taxes early for political purposes as well. A double-whammy!
And Romney should accuse Reid of being a stinking liar for saying he hadn’t paid any taxes in 10 years. Now, let’s see Reid’s tax returns.
Correction, it is demonRATS.
Does anybody in the MSM even bother to do research any more? (Yeah, I know, a really stupid question!) The key to this is to look at what these candidates did when they were NOT RUNNING for President. IIRC, Obama and Biden gave only fractions of a percent to charity while Romney and Ryan did far more.
Then again, this is the liberal conservative divide. Liberals do not do individual charity very well, they want ‘the village’ to be FORCED to do charity through the beneficent government. Conservatives (speaking personally) want to choose their charities as individuals not as part of the collective! Thus I give to organizations like the Salvation Army which have a operating cost inconceivable in government.
LLS
The fact that the Dumbocrats are harping on this issue implies strongly that they don’t like what they’re seeing in the polls. Romney’s quiet confidence suggests the same.
Perhaps we conservatives have under-estimated Romney’s talents for timing.
Mitt is not a good ‘show man’, he comes across (to me) as uncomfortable and reticent on the stump. His business successes appear to have been achieved by getting to work and solving problems.....not talking - but doing.
Dissappointed in his campaign staff - who seem not to be pushing his strengths.
You’re asking the liberal media to apply the same standards on a Democrat as they would a Republican or Conservative. I may not know much, but one thing my entire adult life watching, reading, and listening to the media has taught me and that is this: that will never happen.
The communists will ALWAYS find something to complain about IF it’s contrary to the collective state-run train of thought.
GASP! A political strategy! How utterly horrible! How dare he do such a dastardly deed?
Why, no self-respecting Dimocrat would ever do a political strategy during an election campaign! Never, I tell you!
And to make sure the effect is complete, here are some extra exclamation marks that weren’t otherwise being used:
! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !
Rush Limbaugh said months ago that if Romney released these tax documents the left would find some way to use them against him, and that it would be a mistake to release them.
The Middle East is on fire.............Meanwhile at the White House and the Obama controlled media, it’s......
LOOK......OVER THERE, it’s Romney’s tax return.
Are we that dumbed down?
Imbeciles — HE’S RUNNING FOR PRESIDENT. What a bunch of mealy-mouthed ‘holes. “Tell us! Wait — you’ve told us?!? How dare you!!! Stop being so political.”
Thanks tobyhill.
If Romney follows this up with independently verifiable birth, SSAN, college and draft records in the next couple of weeks, then both Obama *and* the MSM will be left to twist slowly, slowly in the wind...
Clarity.
The truth is that Romney paid 30.8% last year in federally approved giving.
The Fed SPECIFICALLY approves deductions for charitable purposes as being appropriate expenditures instead of additional taxes.
Therefore, Fed tax + Self Tax = 30.8% going to FEDERALLY approved designees.
And can you blame him? Giving that extra money to the Fed is giving it to a sink hole. At least in giving it to a charity you can see the results not getting sucked into the black hole of another GSA leadership bash in Las Vegas.
As many know, I am not a Romney fan. I’m a stubborn, mule-headed, principled conservative, and he won’t get my vote.
All that notwithstanding, Romney gave 30.8% of his income last year. Let’s not lie about the numbers; and let’s not lie about it being for FEDERALLY approved purposes.
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