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Dems Angry Romney Actually Paid More In Taxes Than He Had To

Democrats are charging that Mitt Romney manipulated his deductions to keep his overall 2011 federal income tax rate below a certain level for political purposes. The Republican presidential nominee is certain to face new questions about his finances.

Romney and his wife, Ann, donated roughly $4 million to charities last year, but they only claimed a deduction of $2.25 million on their tax return, filed with the Internal Revenue Service on Friday.

Romney made $13.7 million last year and paid $1.94 million in federal income taxes, giving him an effective tax rate of 14.1 percent. That was a bit above the 13.9 percent rate paid on 2010 income.

More precisely, the returns showed that the couple paid $1,935,708 in taxes on income of $13,696,951.

Democrats quickly leaped on the documents, saying Romney had claimed fewer deductions than he was entitled to just to keep his rate at such a level. Romney told reporters in August he had never paid below 13 percent in taxes in any given year over the past 20. Had he taken the full charitable deduction, it would have pushed his tax liability below 13 percent.

“The information released today reveals that Mitt Romney manipulated one of the only two years of tax returns he’s seen fit to show the American people - and then only to ‘conform’ with his public statements. That raises the question: What else in those returns has Romney manipulated?” said Senate Majority Leader Harry Reid, D-Nev.

Stephanie Cutter, deputy campaign manager for President Barack Obama, said the release of Romney’s 2011 tax returns “confirms what we already knew - that people like Mitt Romney pay a lower tax rate than many middle-class families because of a set of complex loopholes and tax shelters only available to those at the top. Yet, Mitt Romney still wants to give multimillionaires an additional $250,000 tax cut at the expense of middle-class taxpayers who will see their taxes go up.”

Romney, one of the wealthiest candidates ever to seek the presidency, paid taxes at a rate lower than taxpayers whose income was mostly from wages, which can be taxed at higher rates.

Romney’s taxes have emerged as a key issue during the 2012 presidential race. He released his 2010 returns in January, but he continues to decline to disclose returns from previous years — including those while he worked at Bain Capital, the private equity firm he co-founded.

The Obama campaign and other Democrats have pushed for fuller disclosures, reminding the Republican candidate that his father, George Romney, released a dozen years of returns when he ran for president.

Overall, the Romneys’ main tax return and separate forms for blind trusts totaled more than 800 pages. The blind-trust income came from hedge funds and other complex investment vehicles. The couple also reported $3.5 million in income “from sources outside the United States,” citing “various countries.” Their forms included filings on holdings in Switzerland, Ireland, Germany and the Cayman Islands.

The Obama campaign accused Romney anew of profiting from millions invested overseas and “loopholes and tax shelters only available to those at the top.

https://bitly.com/


Added: Sep-22-2012 Occurred On: Sep-22-2012
By: KutKorners
In:
Regional News, Politics, WTF
Tags: if, romney, wasnt, such, a, dick, i'd, vote, for, him, just, to, spite, the, god, damn, communists
Location: United States (load item map)
Marked as: approved
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  • In one year, Romney paid as much or more taxes than 2,000,000 democrap voters

    Posted Sep-22-2012 By 

    (13)

    • @mattb1974: And he still cheated on his taxes ... and he's still gonna lose in a landslide. So sad for you. :(

      Boo hoo.

      Posted Sep-22-2012 By 

      (0)

    • @squackage
      -and the 150 million that paid nothing did so by not cheating at all........THAT IS THE PROBLEM

      Posted Sep-22-2012 By 

      (0)

    • @mattb1974: Poor little rich boy $wiss Mitt, robs and rapes the American economy, hides the money overseas and then hides his tax returns because he knows he'd be tarred and feathered if the public ever saw them.

      And you cowardly cretins continue to push the "47%" meme that's now a millstone around $wiss Mitt's neck. Your boy is toast. Obama is your Daddy and you deserve it.

      Posted Sep-22-2012 By 

      (0)

  • You gotta love libtards... first they complain when he didn't release his taxes, now that he has, more complaining!! LOL

    Posted Sep-22-2012 By 

    (12)

    • @Diverdanm: He didn't release his taxes. Only dummies like you would accept a one-page "summary' in place of 20 years of tax returns.

      $wiss Mitt is toast.

      Posted Sep-22-2012 By 

      (-1)

  • Thanks for the post. Now for Harry Reid's and Nancy Pelosi's tax returns.

    Posted Sep-22-2012 By 

    (8)

  • It sickens me to see how much this generous man paid in taxes. These tax rates are out of control. Almost 2 million bucks?? WTF? The guy gave 4 million in charity (more than any democrat) and is still taxed at the same rate as Obama? This is outrageous.
    Who in the Party of Complete and Utter Failure (democratic party) has the right to complain about this?
    Get back to the issues. Those are all the failures of the democratic party destroying the United States. Weakened dollar, unemploym More..

    Posted Sep-22-2012 By 

    (7)

  • he donated more money than a company would, combined with its employees....

    Posted Sep-22-2012 By 

    (7)

    • @buoymarker Donating to charity is bad.. that is what i got from the article. *sarcasm*

      Posted Sep-22-2012 By 

      (2)

    • @buoymarker: More than a company? And it's employees? That must be A LOT!!! WOW!! Where he get THAT MUCH EXTRA from? Oh yeah, by looting companies and all their employees.

      Posted Sep-22-2012 By 

      (0)

  • Why is everyone so concerned how much he paid in taxes. Like wtf. He paid into the system 10 times more then you. In fact. In your entire lifetime you won't what he pays in just 1 year. Fucking losers. Your the greedy ones not Romney. You want him to pick up the tab you fuckers leave behind because he makes more money then you. That's like going out for dinner with your friend and everyone pays 5 bucks then you turn to your friend who makes the most money and say hey buddy you make more money More..

    Posted Sep-22-2012 By 

    (7)

    • @Noalias Yeah he paid more dummy, but at a much lower rate. Simple math that your obviously have trouble with.

      Posted Sep-22-2012 By 

      (-6)

    • @Noalias It's the only straw they can grasp.

      Posted Sep-22-2012 By 

      (4)

    • @cdlcrash What? Who cares what the rate was. He paid more then you will ever in your life time in one year. Your stuck at the percentage. Not realizing everyone should pay an equal share in to the system. But you'd rather people who are more fortunate and better with their money to pick up the slack you create. Bum

      Posted Sep-22-2012 By 

      (5)

    • @cdlcrash Really...you might want to read about the capital gains tax which is what the majority of his income is from
      Once you do that come back with some credible comment.

      Posted Sep-22-2012 By 

      (4)

    • @Gulf Flyer She fails to realize that it's the fucking tax code, not Romney, who decides what gets paid. Unreal. Liberals don't care about anything but their own fucked up, juvenile ideology. This is wonderful to watch as these fools twist in the wind...Romney has taken the upper hand.

      Posted Sep-22-2012 By 

      (4)

  • Facts are like kryptonite to the libtards.

    Posted Sep-22-2012 By 

    (7)

  • They bitch and moan when he doesn't release his tax returns, then they bitch moan even more when he does!

    The fact is that this 'let's see how much you paid in taxes' is a strategy to divert attention away from Barack Obama. It is driven by a desire to see Obama win, and the liberal mindset that rich people are evil, and thus, should pay more taxes.

    Posted Sep-22-2012 By 

    (7)

  • Liberals are always whining, always complaining.

    Posted Sep-22-2012 By 

    (6)

  • I am not a supporter of Romney's but the man donated 4$ million to charity & paid almost 2$ million in taxes. If he claimed the total $4 million to charity for his deductions, he would have actually paid LESS in taxes. And the Dems are mad.

    Romney kiss ass to Israel w/his flippant attitude towards war v. Russia ruined any hope of my voting for him but this shit absolutely solidifies my decision that the next time a vote will happen under my name for a fucking Democrat it'll be when some coc More..

    Posted Sep-22-2012 By 

    (5)

    • @KutKorners
      You are correct.... Democrats are cocksuckers...

      Posted Sep-22-2012 By 

      (5)

    • @KutKorners Remember Obama didn't know fuck all about the international community either when he won.. he pissed everyone off and apologized to more nations for stupid shit then anyone else. But now that same camp says Romney has no international experience.. That's why you get a good sec of State.

      Politicians have run the economy into the ground.. (culture of give me more) MAYBE a business man who runs on a budget and is trained to get the most for his money can help fix it..

      Posted Sep-22-2012 By 

      (4)

    • @Diverdanm Ahem, I believe they're referred to as "gay" these days. :^]

      Posted Sep-22-2012 By 

      (1)

    • @KutKorners My sentiments exactly.

      Posted Sep-22-2012 By 

      (1)

  • bye bye libtopia

    Posted Sep-22-2012 By 

    (5)

  • Move on, retards. The tax issue is no more. You are running out of red herrings and soon your Kenyan hero will actually have his day of reckoning with the American voters on his utter failure as President.

    So sad.

    Posted Sep-22-2012 By 

    (5)

    • @yorba: The tax issue has just begun. $wiss Mitt looks like a con man now, releasing bogus 2011 numbers and a 20-year average for the rest. He's screwed the pooch yet again.

      Posted Sep-22-2012 By 

      (0)

  • SO he pays less % but a hell of a lot more in total (all within the legal limit)and they bitch he's cheating his taxes or some shit.. wow what a stretch. How many middle or lower class families can say they paid 1.9 mil in taxes? How many combined families of the middle class does it take to equal that amount?

    Posted Sep-22-2012 By 

    (5)

    • @Aariss Can any middle class family say they paid 14.1 percent tax rate? Boy you guys are dumb.

      Posted Sep-22-2012 By 

      (-1)

    • @Aariss "How many middle or lower class families can say they paid 1.9 mil in taxes?" What a stupid question. Why don't you just ask how many middle or lower class families made thirteen and a half million dollars?

      Posted Sep-22-2012 By 

      (0)

    • @forqalso exactly.. so you think because he's successful, he needs to pay for everyone else.. why not just make a flat tax rate.. everyone pays x amount of dollars. 1 Family who pays 1.9 mil in taxes is more then fair enough since it takes what? 2000 families to get to the point as well. Not to mention donating more money to charity then those 2000 + many more combined! So he really paid 5.9 million in total out of 13.5 million that's about half.

      Don't think about it as a percent.. look at the More..

      Posted Sep-22-2012 By 

      (0)

    • @Aariss: Shut up - you sound stupid.

      Posted Sep-22-2012 By 

      (0)

    • @squackage How much did you pay.. oh how much did you donate and how many people do you employ? If it's 10% of the 5.9 million he paid or even 20+ people i will shut up.. but until then keep bitching and enjoy the soup line.

      Posted Sep-22-2012 By 

      (0)

  • Let's see Harry Reid's taxes...

    Posted Sep-22-2012 By 

    (5)

  • eat it democrats!!!

    Posted Sep-22-2012 By 

    (4)