erynthered Posted September 21, 2012 Share Posted September 21, 2012 http://www.weeklystandard.com/blogs/romneys-release-taxes_652850.html In 2011, the Romneys paid $1,935,708 in taxes on $13,696,951 in mostly investment income. The Romneys’ effective tax rate for 2011 was 14.1%. The Romneys donated $4,020,772 to charity in 2011, amounting to nearly 30% of their income. The Romneys claimed a deduction for $2.25 million of those charitable contributions. 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. Additionally, the Romney campaign is releasing a summary of 20 years of taxes, between 1990-2009, detailing their tax expenditures during those years: In each year during the entire 20-year period, the Romneys owed both state and federal income taxes. Over the entire 20-year period, the average annual effective federal tax rate was 20.20%. Over the entire 20-year period, the lowest annual effective federal personal tax rate was 13.66%. Over the entire 20-year period, the Romneys gave to charity an average of 13.45% of their adjusted gross income. Link to comment Share on other sites More sharing options...
meazza Posted September 21, 2012 Share Posted September 21, 2012 http://www.weeklysta...xes_652850.html In 2011, the Romneys paid $1,935,708 in taxes on $13,696,951 in mostly investment income. The Romneys' effective tax rate for 2011 was 14.1%. The Romneys donated $4,020,772 to charity in 2011, amounting to nearly 30% of their income. The Romneys claimed a deduction for $2.25 million of those charitable contributions. 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. Additionally, the Romney campaign is releasing a summary of 20 years of taxes, between 1990-2009, detailing their tax expenditures during those years: In each year during the entire 20-year period, the Romneys owed both state and federal income taxes. Over the entire 20-year period, the average annual effective federal tax rate was 20.20%. Over the entire 20-year period, the lowest annual effective federal personal tax rate was 13.66%. Over the entire 20-year period, the Romneys gave to charity an average of 13.45% of their adjusted gross income. Doesn't count because it's to mormon causes Link to comment Share on other sites More sharing options...
erynthered Posted September 21, 2012 Author Share Posted September 21, 2012 Doesn't count because it's to mormon causes LOLJoe Biden gave a whopping $300.00 dollars to charity. Link to comment Share on other sites More sharing options...
Doc Posted September 21, 2012 Share Posted September 21, 2012 Who the F cares about the charitable donations? He paid just 14.1% man! Link to comment Share on other sites More sharing options...
BiggieScooby Posted September 21, 2012 Share Posted September 21, 2012 trust me, I paid similar rates for the last 20 years. Trust me I'm a likable guy. Link to comment Share on other sites More sharing options...
3rdnlng Posted September 21, 2012 Share Posted September 21, 2012 http://www.weeklystandard.com/blogs/harry-reid-mitt-romney-may-be-one-those-paying-no-federal-income-tax_652692.html "If you’re a multimillionaire, Mitt Romney won’t rest until you get a quarter million dollar tax cut. That’s what the Ryan budget does. And Romney likes that. For all we know, Mitt Romney could be one of those who have paid no federal income tax. Thousands of families make more than $1 million, pay nothing in federal income taxes each year. Repeat that Madame President, thousands of families making more than a million dollars a year pay nothing in federal income taxes. Is Mitt Romney among those? We’ll never know since he refuses to release his tax returns for the years before he was running for president," said Reid. Link to comment Share on other sites More sharing options...
BillsFan-4-Ever Posted September 21, 2012 Share Posted September 21, 2012 Jon Stewart lays it on the GOP. http://www.dailykos.com/story/2012/09/20/1134237/-MUST-SEE-Jon-Stewart-gets-genuinely-angry-at-Fox-News-for-their-Bulls-t-Mountain In 2010, Governor Romney had an adjusted gross income of $21.6 million dollars, yet paid only $3 million dollars in federal income tax, or 13.9%. Without the preferential investor tax code, Romney would have paid $7.56 million dollars, a government subsidy of $4 1/2 million dollars. Or to put that absolutely fair tax break given to a job creator in moocher class dependency terms, enough food stamps to feed Mr. Romney through the year 4870. Even funnier (I beleive it was Fox ) talks to CRAIG T. NELSON (who claims to have been dirt poor). CRAIG T. NELSON (6/2/2009): I've been on food stamps and welfare. Anybody help me out? No! OMG how clueless is that! Link to comment Share on other sites More sharing options...
drinkTHEkoolaid Posted September 21, 2012 Share Posted September 21, 2012 Now if only we could see Obamas college transcripts and tax returns.... Sigh.... Link to comment Share on other sites More sharing options...
BillsFan-4-Ever Posted September 21, 2012 Share Posted September 21, 2012 Who the F cares about the charitable donations? He paid just 14.1% man! And the average family living paycheck to paycheck pays over 25% --------- who gives a chit what his college trranscripts say! The dumbass George W was pres and y'all loved him Link to comment Share on other sites More sharing options...
Gary M Posted September 21, 2012 Share Posted September 21, 2012 (edited) And the average family living paycheck to paycheck pays over 25% Not in federal income taxes. let's compare apples to apples here. Edited September 21, 2012 by Gary M Link to comment Share on other sites More sharing options...
Doc Posted September 21, 2012 Share Posted September 21, 2012 Jon Stewart lays it on the GOP. http://www.dailykos....ulls-t-Mountain In 2010, Governor Romney had an adjusted gross income of $21.6 million dollars, yet paid only $3 million dollars in federal income tax, or 13.9%. Without the preferential investor tax code, Romney would have paid $7.56 million dollars, a government subsidy of $4 1/2 million dollars. Or to put that absolutely fair tax break given to a job creator in moocher class dependency terms, enough food stamps to feed Mr. Romney through the year 4870. Even funnier (I beleive it was Fox ) talks to CRAIG T. NELSON (who claims to have been dirt poor). CRAIG T. NELSON (6/2/2009): I've been on food stamps and welfare. Anybody help me out? No! OMG how clueless is that! And the average family living paycheck to paycheck pays over 25% Thank goodness Barry increased the capital gains rate like he campaigned on in 2008...oh, wait a minute! Now if only we could see Obamas college transcripts and tax returns.... Sigh.... Not to mention Dirty Harry's and Fancy Nancy's tax returns. I'm sure they paid their "fair share" of taxes. Link to comment Share on other sites More sharing options...
BillsFanNC Posted September 21, 2012 Share Posted September 21, 2012 And the average family living paycheck to paycheck pays over 25% You do not understand the difference between marginal and effective tax rates. Link to comment Share on other sites More sharing options...
B-Man Posted September 21, 2012 Share Posted September 21, 2012 http://www.weeklysta...xes_652850.html In 2011, the Romneys paid $1,935,708 in taxes and that is essentialy what they paid the other years, But 14% sounds so much worse than 2 million....................................so that what the dem ads stressed and the sheep fell right in line. . Link to comment Share on other sites More sharing options...
BiggieScooby Posted September 21, 2012 Share Posted September 21, 2012 and that is essentialy what they paid the other years, But 14% sounds so much worse than 2 million....................................so that what the dem ads stressed and the sheep fell right in line. . "We are the 14%! Freedom isn't free!" Mitt Romney on his patriotic tax contribution. Link to comment Share on other sites More sharing options...
B-Man Posted September 21, 2012 Share Posted September 21, 2012 (edited) "We are the 14%! Freedom isn't free!" Mitt Romney on his patriotic tax contribution. So with the actual release of this years returns, the left is reduced to making up fake quotes and slogans..........................thats all thats left. Romney gave 30% of his income last year to charity. Yes, he’s clearly a greedy, selfish one-percenter who doesn’t care about the poor. If you really care, you don’t give money yourself. You get the government to force other people to give. That’s what true compassion is all about................................... Just ask Joe Biden. . Edited September 21, 2012 by B-Man Link to comment Share on other sites More sharing options...
BiggieScooby Posted September 21, 2012 Share Posted September 21, 2012 So with the actual release of this years returns, the left is reduced to making up fake quotes and slogans..........................thats all thats left. Romney gave 30% of his income last year to charity. Yes, he’s clearly a greedy, selfish one-percenter who doesn’t care about the poor. If you really care, you don’t give money yourself. You get the government to force other people to give. That’s what true compassion is all about................................... Just ask Joe Biden. . I don't care about 2011. Romney is not an idiot of course that tax return will make him look good. What I am interested in is seeing Romney call Harry Reid's bluff and release his taxes for the past 10 years - just like Romney's dad did when he ran for President. Romney released a statement of his past 20 years. I can release a statement too, but that ain't as good as the real thing. Just ask Donald Trump and the birther's. Link to comment Share on other sites More sharing options...
meazza Posted September 21, 2012 Share Posted September 21, 2012 I don't care about 2011. Romney is not an idiot of course that tax return will make him look good. What I am interested in is seeing Romney call Harry Reid's bluff and release his taxes for the past 10 years - just like Romney's dad did when he ran for President. Romney released a statement of his past 20 years. I can release a statement too, but that ain't as good as the real thing. Just ask Donald Trump and the birther's. But the birthers are idiots. Link to comment Share on other sites More sharing options...
DC Tom Posted September 21, 2012 Share Posted September 21, 2012 You do not understand the difference between marginal and effective tax rates. Or income and capital gains. Link to comment Share on other sites More sharing options...
BillsFan-4-Ever Posted September 21, 2012 Share Posted September 21, 2012 http://taxprof.typepad.com/taxprof_blog/2010/06/average-family.html Average Family Federal Tax Rate: 20.4% (4.0% for Bottom 20%; 29.5% for Top 1%) The Congressional Budget Office last week released Average Federal Tax Rates in 2007 [click on charts to enlarge]: Link to comment Share on other sites More sharing options...
DC Tom Posted September 21, 2012 Share Posted September 21, 2012 In 2010, Governor Romney had an adjusted gross income of $21.6 million dollars, yet paid only $3 million dollars in federal income tax, or 13.9%. Without the preferential investor tax code, Romney would have paid $7.56 million dollars, a government subsidy of $4 1/2 million dollars. No, it's not. A subsidy is NOT "not taking someone's money". Link to comment Share on other sites More sharing options...
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