Sunday, September 23, 2012

Romney’s tax return comedy -

  • Just claim the over payment on next year's tax returns!  Very craven, not smart at all.
  • Also, giving more money to charities (the LDS church or Ann's charities in Boston) doesn't make you benevolent  it means you manipulated the code for political advantage.  
Those who don't know the tax schedule will say 'look at how much he donates' those who know the tax schedule will see it as a cold use of the deduction to misguide those same people.    
Romney’s tax return comedy -

First, Mitt and Ann Romney donated a whole heck of a lot of money to charity in 2011 — $4,020,772, to be exact, or about 30 percent of their total income. But they chose only to claim $2.25 million of that total as charitable deductions, because, well, otherwise their overall tax burden would have been a little, shall we say, light.

From the campaign:
The Romneys’ generous charitable donations in 2011 would have significantly reduced their tax obligation for the year. The Romneys thus limited their deduction of charitable contributions to conform to the Governor’s statement in August, based upon the January estimate of income, that he paid at least 13% in income taxes in each of the last 10 years.
Without claiming the total legally possible deduction, Romney ended up paying an effective tax rate of 14.1 percent. If he’d claimed everything he had a right to, he would only have paid around 12.1 percent.

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