Satisfied?

**NickTheCage** · 09-21-2012, 03:18 PM

Paid almost $2M in taxes in 2011

30% of income to charity

approx 45% of their total income went to charity or government

**GraduateFamily** · 09-21-2012, 03:23 PM

If Romney moves even more of his money to Switzerland, he may wind up not paying any income taxes at all, which ironically, would make him part of the 47% of America with a "victim" mentality.

Come to think of it, he sounded like someone with quite the "victim" mentality when he was whining that if only he were Hispanic he would have the presidency in the bag.

Poor Romney...he pulled himself up by his bootstraps, and no one believes him because he isn't Hispanic!

**seand** · 09-21-2012, 03:40 PM

Mormons are required by their church to give at least 10% to the church for tithing. Not saying his other charitable donations are not signficant but that at least 1/3 of it is considered "mandatory".

**toxigal** · 09-21-2012, 03:40 PM

Originally Posted by NickTheCage

Paid almost $2M in taxes in 2011

30% of income to charity

approx 45% of their total income went to charity or government

No. I'm not. My effective tax rate was a bit less than his. I think i get a helluva good deal when it comes to my federal income taxes. However, it is my understanding that Romney wants to lower the tax rate while eliminating deductions so his effective tax rate stays the same, but this will likely result in my effective tax rate increasing.

**five apples** · 09-21-2012, 03:43 PM

More interestingly, what the hell is Nick Talking about.

Romneys Paid $1.94 Million in Fed Taxes for 2011 - ABC News

Mitt Romney and his wife, Ann, paid $1.94 million in federal taxes on last year's income of $13.7 million, for an effective tax rate of 14.1 percent, his campaign said Friday.

**NickTheCage** · 09-21-2012, 03:55 PM

Originally Posted by five apples

More interestingly, what the hell is Nick Talking about.

Romneys Paid $1.94 Million in Fed Taxes for 2011 - ABC News

Mitt Romney and his wife, Ann, paid $1.94 million in federal taxes on last year's income of $13.7 million, for an effective tax rate of 14.1 percent, his campaign said Friday.

Da fugg????

Even more interesting is that you probably learned reading comprehension in a public indoctrination school

**toxigal** · 09-21-2012, 03:55 PM

Originally Posted by GraduateFamily

If Romney moves even more of his money to Switzerland, he may wind up not paying any income taxes at all, which ironically, would make him part of the 47% of America with a "victim" mentality.

Come to think of it, he sounded like someone with quite the "victim" mentality when he was whining that if only he were Hispanic he would have the presidency in the bag.

Poor Romney...he pulled himself up by his bootstraps, and no one believes him because he isn't Hispanic!

he only pocketed 12 million last year. how can he be expected to be a job creator with such a piddly income?

**Naveen** · 09-21-2012, 05:12 PM

Considering all of Romney's offshore accounts, who knows how much he really made?

**2happy4u** · 09-21-2012, 05:38 PM

When did the successful American become the demon, When the freeloaders wanted more! Now that we see Romney is a tax paying American, May we see the hidden, locked away, secret college records of Obama. Mitt must call him out and really put him on the spot at the debate.

**PASnow** · 09-21-2012, 06:14 PM

College records?? WTF?! Get over it. What is this, tit for tat?? Romneys campaign will go further into the toilet if he makes that an issue.

And being successful isn't demonic, however making people expendable in an effort to maximize profits probably isn't who I want as President of this country.

**NickTheCage** · 09-21-2012, 06:34 PM

Originally Posted by PASnow

College records?? WTF?! Get over it. What is this, tit for tat?? Romneys campaign will go further into the toilet if he makes that an issue.

And being successful isn't demonic, however making people expendable in an effort to maximize profits probably isn't who I want as President of this country.

Not votting for Mittens BUT the Greeks, Spanish, Italians, etc have the same mindset

**Naveen** · 09-21-2012, 06:44 PM

Originally Posted by 2happy4u

When did the successful American become the demon, When the freeloaders wanted more! Now that we see Romney is a tax paying American, May we see the hidden, locked away, secret college records of Obama. Mitt must call him out and really put him on the spot at the debate.

Romney pays taxes? I knew he was a leftist at heart.

Socialism!

**five apples** · 09-21-2012, 11:37 PM

Originally Posted by NickTheCage

Da fugg????

Even more interesting is that you probably learned reading comprehension in a public indoctrination school

Dude, his campaign said he paid that rate. Not sure where I am struggling. BTW, I went to one of the top colleges in America. I assure you I can read. Let me parse the statement.

Romneys paid $1.94 million in federal taxes on $13.7 million income

So Romney reported earnings of 13.7 million, and he paid 1.94 million in taxes. When some basic freshman highschool mathematics are applied to this particular situation, what you get is 14.1 percent.

**five apples** · 09-21-2012, 11:46 PM

You know nicky, I apologize, you said 45% to charity and the government, and I did misread that. However claiming that the $2.6 million in cash to the Church of Jesus Christ qualifies as charity is amusing to me. But if you take that number plus the 1.94 the actual percentage is 33%. So math huh, your thing? I thought you were an economic genius.

**NickTheCage** · 09-22-2012, 06:37 AM

Originally Posted by five apples

Dude, his campaign said he paid that rate. Not sure where I am struggling. BTW, I went to one of the top colleges in America. I assure you I can read. Let me parse the statement.

So Romney reported earnings of 13.7 million, and he paid 1.94 million in taxes. When some basic freshman highschool mathematics are applied to this particular situation, what you get is 14.1 percent.

So. Do you want a cookie or do you have such insecurity issues that you had to drop that on a message board, out of the blue, because you misread my post?

Anyway, it surely explains a lot.

**NickTheCage** · 09-22-2012, 06:54 AM

Originally Posted by five apples

You know nicky, I apologize, you said 45% to charity and the government, and I did misread that. However claiming that the $2.6 million in cash to the Church of Jesus Christ qualifies as charity is amusing to me. But if you take that number plus the 1.94 the actual percentage is 33%. So math huh, your thing?

Must say, I'm impressed with your math and economic acumen that you learned when you "went to one of the top colleges in America." Was your Marxist professor named Krugman?

$5.9M of $13.7M is 43% which would fall into the "approx 45% of their total income went to charity or government" category.
Capisce paisan?

Originally Posted by five apples

I thought you were an economic genius.

I have never said that but I could understand how and why that meme is all up in your head.

**ShoshTrvls** · 09-22-2012, 07:35 AM

First, Mitt's actual tax rate would have been lower if not for the financial shenanigans he pulled by not taking the full charitable deduction this year in order to be able to day that his effective rate was above 14%. (As more than one commentator has noted, what Mitt does with his tax returns when the country is watching isnt nearly ax important as what he did when no one was watching - and we still havent seen those). But whether it is 1% or 14%' that doesn't change the fact that he has structured (offshored) his investments and benefits from a tax code skewed to the wealthy at the expense of the poor.

I would also point out that, somehow, Mitt can't find about $7 million he made last year; it has disappeared since January.

" The Romneys made the charitable contributions during 2011. Earlier this year, when the campaign released their estimated 2011 tax return, the couple’s projected income was $20.9 million . . .."

Mitt Romney Paid 14.1% U.S. Tax Rate in 2011, Campaign Says - SFGate

**NickTheCage** · 09-22-2012, 08:01 AM

Originally Posted by ShoshTrvls

First, Mitt's actual tax rate would have been lower if not for the financial shenanigans he pulled by not taking the full charitable deduction this year in order to be able to day that his effective rate was above 14%. (As more than one commentator has noted, what Mitt does with his tax returns when the country is watching isnt nearly ax important as what he did when no one was watching - and we still havent seen those). But whether it is 1% or 14%' that doesn't change the fact that he has structured (offshored) his investments and benefits from a tax code skewed to the wealthy at the expense of the poor.

I would also point out that, somehow, Mitt can't find about $7 million he made last year; it has disappeared since January.

" The Romneys made the charitable contributions during 2011. Earlier this year, when the campaign released their estimated 2011 tax return, the couple’s projected income was $20.9 million . . .."

Mitt Romney Paid 14.1% U.S. Tax Rate in 2011, Campaign Says - SFGate

The law allows you to carry forward charitable deductions for five years and he can still claim that going forward. It might also benefit him to do so if tax rates go up next year.

How is that a “financial shenanigan” if it’s the f’en law?

**ShoshTrvls** · 09-22-2012, 10:18 AM

Originally Posted by NickTheCage

The law allows you to carry forward charitable deductions for five years and he can still claim that going forward. It might also benefit him to do so if tax rates go up next year.

How is that a “financial shenanigan” if it’s the f’en law?

Because it wasn't done in the past (no carry overs), but only in the year he's running for President and said, months ago, "I never paid less than 13%." If he had taken the full deduction, he would have paid less than 13%.

BTW, what do you think happened to the $7 million?

**jizay** · 09-22-2012, 10:45 AM

Originally Posted by toxigal

No. I'm not. My effective tax rate was a bit less than his. I think i get a helluva good deal when it comes to my federal income taxes. However, it is my understanding that Romney wants to lower the tax rate while eliminating deductions so his effective tax rate stays the same, but this will likely result in my effective tax rate increasing.

Actually, I bet all of our effective tax rates are a lot less than his. Media reports about tax rates paid by the rich promote rampant economic illiteracy and focus only on the nominal amount of taxation, not the incidence of taxation. The incidence of corporate taxation ends up taking a ton from the very rich (Buffett probably "paid" close to 2 billion last year), and thus their tax burden is often vastly understated. That's an uncontroversial point among economists, yet never mentioned in the public discussion. To give balance, Romney makes this "mistake" (I think on purpose) when he talks about Americans that pay no taxes, many of whom bear the incidence of taxes like the employer side of payroll tax, etc.