If I'm Ann Romney (AND I AM), I worry about Mitt's latest tax return, because he just faked a higher tax rate than he should have actually paid ... and it's still ridiculously low . Mitt Romney’s 14.1 percent effective federal tax rate in 2011 would’ve been lower if he’d deducted all of his charitable contributions from his nearly $13.7 million in income. But after estimating that he paid at least 13 percent of his income in taxes in each of the last 10 years, Romney opted not to deduct nearly $1.8 million worth of charitable contributions last year to artificially lift his tax liability.
So, anyone remember back in January when Mitt said that anyone who artificially lifted their tax liability wouldn't be qualified to be President?
How does a church qualify as a charitable donation? What do they have to do to be disqualified? Does it ever happen? Seems to me that when a "church" wants to play politics, they need to pay taxes. And yes, I'm looking at you, Mormon Church.
I discovered hiding in plain sight in Wikipedia last night the germ of another Mormonic conspiracy theory:
<blockquote>In 1844, Joseph Smith rejected the platforms of the major candidates for President of the United States and decided to conduct his own third-party campaign for the Presidency&mdash;an effort which was cut short by his death on June 27 of that year.</blockquote>
Eh, I think it&#039;s a calculated expense. Like a corporation that figures it&#039;s worth paying a fine and doing what it wants, rather than observe the law. In fact, wasn&#039;t there an anecdote about Mitt doing exactly that?
I&#039;m posting this comment before reading the thread, and I&#039;m way late anyhow, but 14.1%?
The ridiculously shit-headed** tax rate on &quot;capital gains&quot; is 15%. There isn&#039;t a lower tax rate, except for zero on some municipal bonds. The tax law is full of goodies. I&#039;m sure his numbers are accurate. I would ask, since his tax rate was 14.1% during 2011, and since that is far lower than the tax rate of most middle-income taxpayers: how many jobs did he create in 2011?
** I can go on at great length about the stupidity of the &quot;capital gains&quot; rates in the US tax law, but I would be repeating myself.
As I&#039;ve said before, I&#039;m going with the White Horse Prophecy. It would be very easy for Money Badger to think that now is the time, and that he, obviously, is the Chosen One. This kinda shit gets installed at an early age, and even if you sort of grow out of it, it still resonates.
To be clear, under the White Horse Prophecy, it&#039;s Mitt&#039;s job to take control of the United States to save it (from whatever), and probably to establish a Mormon theocracy (this isn&#039;t completely clear). The odd thing is, it&#039;s not really explicit what Mitt is saving America from, nor what he is supposed to do after saving it.
Wait. If he donated $1,115,484 to the LDS, then his gross income should be ten times that, or $11,154,840. His net worth is known to be well north of $250M. He&#039;s claiming that he made less than 4.4% on $250M?
So, anyone remember back in January when Mitt said that anyone who artificially lifted their tax liability wouldn&#039;t be qualified to be President?
Yeah, he was hoping you wouldn&#039;t.
How does a church qualify as a charitable donation? What do they have to do to be disqualified? Does it ever happen? Seems to me that when a &quot;church&quot; wants to play politics, they need to pay taxes. And yes, I&#039;m looking at you, Mormon Church.
I discovered hiding in plain sight in Wikipedia last night the germ of another Mormonic conspiracy theory:
<blockquote>In 1844, Joseph Smith rejected the platforms of the major candidates for President of the United States and decided to conduct his own third-party campaign for the Presidency&mdash;an effort which was cut short by his death on June 27 of that year.</blockquote>
Eh, I think it&#039;s a calculated expense. Like a corporation that figures it&#039;s worth paying a fine and doing what it wants, rather than observe the law. In fact, wasn&#039;t there an anecdote about Mitt doing exactly that?
I&#039;m betting he postponed taking the deductions in 2010 so he could release that return without looking like a douchebag.
this tax crap is so boring.
well, except for the fact that it gets mitt&#039;s mormon panties in a wad.
I&#039;m posting this comment before reading the thread, and I&#039;m way late anyhow, but 14.1%?
The ridiculously shit-headed** tax rate on &quot;capital gains&quot; is 15%. There isn&#039;t a lower tax rate, except for zero on some municipal bonds. The tax law is full of goodies. I&#039;m sure his numbers are accurate. I would ask, since his tax rate was 14.1% during 2011, and since that is far lower than the tax rate of most middle-income taxpayers: how many jobs did he create in 2011?
** I can go on at great length about the stupidity of the &quot;capital gains&quot; rates in the US tax law, but I would be repeating myself.
When he loses, the 1040X won&#039;t be far behind.
What, you like to fire accountants that provide services to you?
And yes, he&#039;ll file an amended return and take the deductions he let slide.
Apparently, he thinks he&#039;s soliciting the votes of people who have never filed a tax return.
It&#039;s always been unusual to be hungry in Singapore, as I recall. Poor, yes.
As I&#039;ve said before, I&#039;m going with the White Horse Prophecy. It would be very easy for Money Badger to think that now is the time, and that he, obviously, is the Chosen One. This kinda shit gets installed at an early age, and even if you sort of grow out of it, it still resonates.
To be clear, under the White Horse Prophecy, it&#039;s Mitt&#039;s job to take control of the United States to save it (from whatever), and probably to establish a Mormon theocracy (this isn&#039;t completely clear). The odd thing is, it&#039;s not really explicit what Mitt is saving America from, nor what he is supposed to do after saving it.
So, kind of like the Ryan budget.
Wait. If he donated $1,115,484 to the LDS, then his gross income should be ten times that, or $11,154,840. His net worth is known to be well north of $250M. He&#039;s claiming that he made less than 4.4% on $250M?
It is to fucking laugh.
Racist motherfuckers?
Too logical, Chich. We&#039;re way beyond logical.
Probably still using his dad&#039;s free card.
Yup. But if corporations do it, they&#039;re just being sensible and responsible.
Can&#039;t wait for this robotic turd to go away...