*One to watch* Romney paid 14.1 percent effective tax rate in 2011

[miskie]

http://www.democraticunderground.com/1014239830

It seems the primitives are now aware of the 'Rmoney' 2011 tax returns, and the coming tax summary, and are apoplectic about them both. The man that they insisted is a total tax cheat paid over 20% of taxes over the last twenty years, and gave away another 20% more.

As expected, the primitives ain't buying it.

Romney paid 14.1 percent effective tax rate in 2011


 
Last edited Fri Sep 21, 2012, 02:32 PM USA/ET - Edit history (2)

Source: NBC NEWS


Mitt Romney paid an effective tax rate of about 14 percent last year, his campaign said Friday while also announcing that the Republican presidential nominee had paid an average annual effective tax rate of about 20.2 percent between 1990 and 2009.

Romney made good on its pledge to release his tax returns from 2011 before the election, and went a step further than was previously anticipated in releasing a certified summary of his tax returns over a two-decade period preceding 2010.

While the full tax documents won't be made available until a little later this afternoon, the Republican's campaign said Romney paid more than $1.9 million in taxes on income of about $13.7 million. That amounts to a 14.1 percent effective tax rate; the tax level is lower because most of the Romneys' income comes from investment, which is taxed at a lower rate than employment income.




Read more: http://firstread.nbcnews.com/_news/2012/09/21/14015361-romney-paid-141-percent-effective-tax-rate-in-2011?lite

and..

14. So this means he gave 45 percent of his income.

Last edited Fri Sep 21, 2012, 02:57 PM USA/ET - Edit history (1)

1.9 million taxes(2.5 million deduction)
4 million to charity

This is actually calculated to make him look good but it doesn't because almost nobody in the media emphasizes the charitable giving...

http://www.cbsnews.com/8301-503544_162-57517962-503544/romney-paid-14.1-percent-tax-rate-in-2011/


for reference Obama gave away his nobel peace prize winnings so it sort of puts him in the same category...

Im certain this will be the first of many threads about this at DUland - enjoy ! 

[Chris_]

14. So this means he gave 45 percent of his income.

1.9 million taxes (2.5 million deduction)
4 million to charity

It's clear he didn't give enough to the government.

[Texacon]

for reference Obama gave away his nobel peace prize winnings so it sort of puts him in the same category...

Uh, no ... not even close.

KC

[WinOne4TheGipper]

Uh, no ... not even close.

KC

Sure it does, if you use DUmmie math.

[miskie]

Here is a fairly concise breakdown of the numbers from conservative radio host/columnist Michael Graham -

http://michaelgraham.com/archives/it-rsquo-s-not-mitt-you-hate-lefties-it-rsquo-s-your-own-lack-of-success/

• From 1990-2009, the Romney’s average effective tax rate 20.20%. Lowest year was 13.66%
• Over that same 20 year period, the Romneys gave an average of 13.45% of their income to charity.
• Their average effective tax rate for state/federal taxes, plus charitable contributions equaled 38.5% of the Romney’s income.
• The Romneys’ effective tax rate for 2011 was 14.1%  They paid $2 million in taxes.
• In 2011 the Romneys donated $4,020,772 to charity in 2011, nearly 30% of their income.

Oops. No soup for you, primitives - one year! And as for you Harry Reid - Banned forever.

[Karin]

They're unhinged over there, and a DUmmie named progressivebydesign appears to be hyperventilating.  Another DUmmie is looking for Ed, Rachel, and Lawrence to save the day.  

[miskie]

They're unhinged over there, and a DUmmie named progressivebydesign appears to be hyperventilating.  Another DUmmie is looking for Ed, Rachel, and Lawrence to save the day.  

I'm fully expecting them to say something like "well, yeah - they paid taxes on what little money they keep in the United States, but there is at least a bazillion dollars in sooper-dooper double probation secret offshore accounts, so - these figures are meaningless, blah-blah-blah."

[formerlurker]

Meanwhile in grasswire's world...

Star Member grasswire (35,129 posts)

View profile
Dems have Romney's tax returns.
That's what I've been told by an authoritative journalist in Washington, an old friend.

Someone in McCain's camp leaked the returns. Dems have them.

This isn't going away.

http://www.democraticunderground.com/10021391784

[Chris_]

Star Member grasswire (35,129 posts)

Dems have Romney's tax returns.

That's what I've been told by an authoritative journalist in Washington, an old friend.

She watched MSNBC.

Someone in McCain's camp leaked the returns. Dems have them.

Probably the same backstabbers that trashed Sarah Palin.  Shitty people tend to hang out together, like at Democrat Underground.

This isn't going away.

Naturally.

[Jasonw560]

I'm fully expecting them to say something like "well, yeah - they paid taxes on what little money they keep in the United States, but there is at least a bazillion dollars in sooper-dooper double probation secret offshore accounts, so - these figures are meaningless, blah-blah-blah."

that's exactly what they're saying.

That progressivebydesign primitive (love that description of them) is going just apoplectic right now.

I'm loving it.

[miskie]

Meanwhile in grasswire's world...

http://www.democraticunderground.com/10021391784

I had to do a double-take on the date and time of this thread.. It really is as if a number of the primitives are living in a Fringe-style parallel universe, isn't it ?

The summary is out there, certified by PWC, and these primitives are still acting as if there is no tax return data...  

[franksolich]

Meanwhile in grasswire's world...

How much you want to bet Barack Milhous has always had Mitt Romney's income taxes, always knew exactly what was in them?

True, there's laws of confidentiality and all that, but I can't see a president being denied information he wants, even for only trivial reasons.

I'll bet that's why Scary Harry was the front-man in all this, yapping about the income taxes even though he himself probably didn't know (not being the president) what was in them.

The pie-and-jam primitive should stay away from political commentary, and stick with what she knows best, cooking and baking, and the used-goods business.

[CactusCarlos]

I'm fully expecting them to say something like "well, yeah - they paid taxes on what little money they keep in the United States, but there is at least a bazillion dollars in sooper-dooper double probation secret offshore accounts, so - these figures are meaningless, blah-blah-blah."

  H5

[Skul]

I'm fully expecting them to say something like "well, yeah - they paid taxes on what little money they keep in the United States, but there is at least a bazillion dollars in sooper-dooper double probation secret offshore accounts, so - these figures are meaningless, blah-blah-blah."

Here's one.

Response to Gold Metal Flake (Reply #23)
Fri Sep 21, 2012, 04:00 PM
 madinmaryland (49,762 posts)
35. I doubt whether he ever used form 1040EZ. Nowhere to put the Cayman Island accounts!

Another.

Response to grasswire (Original post)
Fri Sep 21, 2012, 04:00 PM
DevonRex (17,993 posts)
32. Of course. Reid knew. That's why he said it and wrote it

that Mitt had paid no Federal income tax. Mitt admitted in a debate that for 2 years he had only paid Capital Gains. He exclaimed that he wouldnt have paid any taxes at all for the last 2 years under Newt's plan to do away with the capital gains tax.
His actual earnings are all sheltered somewhere else. That's what Reid has been getting at. 

[WinOne4TheGipper]

They're unhinged over there, and a DUmmie named progressivebydesign appears to be hyperventilating.  Another DUmmie is looking for Ed, Rachel, and Lawrence to save the day.  

It's "Suck it, Libtard" Friday!

You did it to yourselves, DUmmies

[miskie]

that's exactly what they're saying.

That progressivebydesign primitive (love that description of them) is going just apoplectic right now.

I'm loving it.

Can you blame them ? They invested so much energy in their tax-cheat fairy tale, that this news has left them in a real bad position politically. This release has officially put the primitives in the same camp as the troofers, birfers, and shadow government Illuminati people.

-The general population will see those who insist on hanging on to this falsehood as kooks. Too bad, primitives.  

[franksolich]

I just figured it out.

It appears Mitt Romney paid 14 times more his share, than I did.

When all was said-and-done, franksolich paid 1.2% of his income for 2011, in federal income taxes.

That may not seem like much, but it keeps me in the "net contributing" part of society, and out of "getting more than what ones gives" part.

I think Mitt's paid his fair share, and I also resent that both of us have to pay more than what we should, to support the primitives.

[miskie]

Here's one.

"His actual earnings are all sheltered somewhere else."

Really,  DevonRex ?

The reason 'RMoney' has paid only capital gains is because he has no other 'job' - In other words, he isn't earning new money, just profiting from what he already has. DUmbass.

[Kyle Ricky]

Romney also released physician letters for Romney and Ryan, which reflected both candidates' excellent state of health.

 


So, his taxes show that he paid more than his share over the past 20 years. Paying between 13% and 20% in taxes, and then giving upwards of 45% to charity. Name a Dem who has done that?

[Skul]

that's exactly what they're saying.
That progressivebydesign primitive (love that description of them) is going just apoplectic right now.
I'm loving it.

Speaking of whom.

Response to Playinghardball (Original post)
Fri Sep 21, 2012, 02:33 PM
progressivebydesign (17,860 posts)
1. I'm SO PISSED!! The MSM better say that Mitt tweaked 2011 to actually PAY in that much!!!

Seriously. If the ****ing media doesn't get this, I just give up. He had ALL campaign to tweak 2011 and has NO compunction about paying in the 1.94 million in taxes TODAY, to make him look like he pays a alot.

An the "summary of tax rates" ****ING WORTHLESS!!! Doesn't matter what his ****ing tax rate was, because we all know that guys like that take very single loophole, trick, loss, etc, so that what they're paying on is next to nothing. 13% on nearly nothing is still nearly nothing!!!

And think about it. He made 13 million on his investments last year.... do the math. and how much is he hiding overseas? And did he take the amnesty? I hate that asshole.

More...

Response to Playinghardball (Original post)
Fri Sep 21, 2012, 02:43 PM
 valerief (32,426 posts)
6. Where are the tax returns where he got Swiss bank account amnesty???? nt

Absolutely frantic over there.

[miskie]

Sides...hurting... too.much...laughing...


http://www.democraticunderground.com/10021391926

Romney tax returns: I like how he averaged 20 years......why not 10?


 
I really love this. What a load full of obfuscation! To me this further indicates that he is afraid of what it would have looked like if only the last ten years were averaged. This is the element to this tax return release that he is using to shield himself.

Of course we are supposed to trust him. Not! Maddow already exposed how he lied to the authorities in Massachusetts when he was trying to qualify to run for governor. Those lies in Massachusetts need to be further exposed because most of the press has ignored them, and most people have no idea that he lied about his taxes during that time in Massachusetts.

4. Exactly!

They had to include TWENTY years to make it average out in an 'acceptable' number. That, to me, says there is some pretty telling numbers in the 2000 - 2009 years (I'm betting the amnesty plays into those numbers big time) they needed to try and hide by using twenty years.

This "20 year summary" just highlights the tax return issue, it does NOT answer it in any way, imo.

So -- RMoney hid his "tax-cheetiness" by giving them too much data....   

First, they wanted more, he complied, and now its too much ! 

Boom goes the dynamite Cranium !

[Jasonw560]

Can you blame them ? They invested so much energy in their tax-cheat fairy tale, that this news has left them in a real bad position politically. This release has officially put the primitives in the same camp as the troofers, birfers, and shadow government Illuminati people.

-The general population will see those who insist on hanging on to this falsehood as kooks. Too bad, primitives.  

Oh, I know. Hopefully this will drive them even loonier, and those sitting on the fence will realize they don't want any part of the crazy.

They don't realize is that if (and when) the long forms come out, it will just back up what has already been released.  They will then lose what's left of their ever-loving minds.

DUmbasses need to know they should quit while they're behind.

I see the MSM going apeshit over this, too.

[Karin]

Hey Dumbasses.  Take a deep breath.  You don't think the IRS has been all over this stuff?  This isn't just a W-2 and an interest income statement for $75.   Is not the IRS a fully competent department of the United States government, in extracting all proper amounts from the citizenry? 

We over here know the tax code better than you, and 14-20% sounds entirely reasonable for the types of income Romney makes.

[Karin]

Wait a minute.  Can someone please translate this, or is this simply the stupidest post of the day? 

Response to Playinghardball (Original post)
Fri Sep 21, 2012, 04:09 PM
 ellenfl (7,913 posts)
32. the nail in his coffin if exposed . . .

"Mitt and Ann Romney also donated about $4 million -- about 30 percent of their income -- to charity in 2011, though they only claimed a deduction of about $2.25 million from those donations, according to the campaign.

That means the Romneys voluntarily paid a higher tax rate than they were legally required, which the campaign said they did in order to stay consistent with Romney's pledge to never play less than a 13 percent tax rate."

in other words, he did not take the deduction he took all those prior years which essentially negated his tax liability. kinda stupid to point that out. he just proved what harry reid has been saying. he's been paying little or no taxes!

ellen fl

WTF

[miskie]

Wait a minute.  Can someone please translate this, or is this simply the stupidest post of the day? 

WTF

I "think" what the primitive is suggesting is that the Romney's understated their current charitable donations, so that the higher amount of taxes paid will negate the effect of paying no taxes at all over so many years, when considered as an aggregated average.

What the primitive fails to understand is that -

A) The Romney's never paid less than 13.66 percent during any of the years averaged.

B) The extra taxes paid because of the understated charitable donation would not have come close to raising his average over 20 years to the amount it is if he indeed paid nothing as Harry Reid stated. Basic math escapes primitives.