Romney Fooling America

I have heard how people talk about how generous Romney is to charity well it seems it isn’t out of the goodness of his heart and more about keeping every penny he can. The big bomb comes from his claim he has never paid less than 14% in taxes.

“Mitt Romney on Friday announced that he will not take all the charitable deductions to which he was entitled for his 2011 taxes, in order to keep his tax return from falling below a threshold that would falsify an earlier assertion that he'd never paid lower than a 13 percent tax rate.

"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," his trustee Brad Malt said in a note accompanying the return.”
“Luckily for Romney, after the election he can recoup that money. If the American people reject him at the polls in November -- and even if they don't -- Romney would be fully within his legal rights to file an amended return, requiring the Treasury to cut him a substantial check.

Romney has asserted that he does not believe in paying more taxes than required.”Text

So he is purposely deceiving the voters anyway you look at it. This is probably why he will not release his tax returns it would show he lied about not paying less than 14%.

And where do his generous donations go?

Where did Romney's charitable giving wind up? It's not entirely clear. According to the tax returns, he gave $1,115,485 to the Mormon church and $214,516 to the Tyler Charitable Foundation, which is Romney's own tax-exempt nonprofit he established. His returns also list a gift of $920,573 in "noncash contributions," though it doesn't specify where those went. Noncash contributions are typically gifts of stock. By shifting the stock from his own account to his nonprofit, he is able to avoid paying taxes on the unrealized capital gains, and is also allowed to write off the value of the gift. The return isn't clear as to where the remaining roughly $2 million of charity went -- the gift he hasn't yet taken a deduction for -- but a likely candidate is his Tyler Charitable Foundation.

In 2010, Romney avoided a tax hit by giving to Tyler stock in Sensata, a company with a factory in Illinois that Bain Capital is closing and moving to China, costing the town 170 jobs.”

So he gives to the Mormon Church which is required by his faith.
Tyler Charitable Foundation that is his own foundation so he gives money to himself and writes it off. Man I wish I could give money to myself and write it off my taxes.

So Romney states to America that he has never paid less than 14% tax but he has to not take a deduction to which he can still re file for and get back if he isn’t elected. Romney is playing America for fools.

source

Romney's non profit shell game

reply to post by Grimpachi

Theyre not fooling anyone.

While the masses still buy into this 2-headed 1-Party system, there is a vocal minority which understands that Obamney is working for the same team.

Yes, just another clown in the circus called politics...

Either way - Obama/Romney - Same thing..
But Obama will probably win even though he has only dug the trench deeper because people like to feel good about themselves voting for him.

Why do you think they had Romney in the first place if not to cull people into voting for 'the cool guy' Obama?

He is a cheater. And I don't mean he cheats at games, which I wouldn't put past him, I mean he's cheating the country! The country he wants to be the leader of!!!

His tax percentage is already lower than any of ours, which is the "redistribution of wealth" he claims to hate so much, but to "scrooge" his money so he doesn't have to pay the rightful taxes he owes, even at 13%, illustrates the most despicable character I can imagine!

This "cheating" of the lower and middle class is something that is part and parcel of who the man is.

He may be fooling some of America, but America is wising up and turning away from him. Thankfully.

I always find it so interesting that those with heaps of cash donate and pat themselves on the back for being "good, concerned citizens" and talk of how generous and compassionate they are....when really it is just about a tax break for them.....sure, in the process of getting the tax break, their money is going to a good cause. So it kills two birds with one stone, but I have always wondered, what if they wouldn't get a tax break for charity donations? Would they still do it? That is the real question.....

reply to post by Benevolent Heretic


And just who do you think America is turning to?????
You are a shill for Obama.

Although the NWO is using both parties, at least Romney is not an embarrassment this Country. Not a socialist,not an apologist for islam, doesn't bow to foreign powers doesn't lie every breath. He is certainly a capitalist and won't continue sending this great country down the tubes.

He's not everything this country needs but he sure is a lot better than what we have now.

Originally posted by Grimpachi
I have heard how people talk about how generous Romney is to charity well it seems it isn’t out of the goodness of his heart and more about keeping every penny he can.

It's his money .. he can keep it or give it away as he wishes. Nothing wrong with that.

Originally posted by gladtobehere
Theyre not fooling anyone.

Romney's standing in the polls sucks. Considering Obama's poor job performance and the economic state of the country, Romney should be able to walk away with this election. Instead he's not going to win. So you are right, Romney isn't fooling anyone. (but Obama sure is).

Originally posted by itsallintheegg
Either way - Obama/Romney - Same thing..

TOTALLY AGREE.

Originally posted by Benevolent Heretic
He is a cheater.

Where did he cheat on his taxes? Was this in the news or something and I missed it? I haven't seen anything about him being caught cheating on taxes.

His tax percentage is already lower than any of ours,

Investment income is taxed at a lower percent than earned income. This is to encourage people to invest in the USA to help the economy. IT IS TOTALLY LEGAL. Of course, people put their money into off shore accounts to save themselves paying taxes they dont' have to pay. ( It is totally legal as well.) So taxing investment income at a lower rate may not work for getting investments in the USA .. but you can't fault anyone for following the rule of tax law.

Oh whatever. Romney is very generous with his money, especially when compared to any liberal or Democrat. Please look up the charitable giving of Joe Biden and Barack Obama. When he gives to the Tyler Foundation he isn't giving to himself and you look ridiculous for saying so. And you think the rest of America is fooled?

So where does all the money go? From AIDs Action to the Wright Museum, Romney’s charities of choice are diverse; in fact, through 2010 the Tyler Foundation had made grants to nearly 100 distinct organizations. Many of the grants have gone to youth programs or health related charities. Of the bunch, the following are Mitt Romney’s top 10 favorite philanthropic targets in terms of total dollars awarded by the Tyler Foundation since 2000:

1. The Church of Jesus Christ of Latter Day Saints: $4,781,000
2. Brigham Young University: $525,000
3. The United Way: $177,000
4. Right to Play: $111,500
5. The George W. Bush Library: $100,000
6. Operation Kids: $85,000
7. Center For Treatment of Pediatric MS: $75,000
8. Harvard Business School: $70,000
9. City Year: $65,000
10. Deseret International: $50,000
Weber State University: $50,000

Forbes

Lets see how much us mere mortals have to donate before we get a Tax deduction.

If you itemize deductions on your tax return, you may be able to take an income tax deduction for a gift to a qualified charitable organization. That is a big "if" however. All taxpayers receive an automatic deduction from Uncle Sam, and it is only when you exceed that deduction that itemizing pays off. The standard deduction is currently $5800 for individuals and $11,600 for married couples filing jointly.

Tax Deductions for Charitable Donations

That means,

If you file as an individual earning $40,000, you would need to donate 15% of it before you got anything back.

If you file as a couple earning $60,000 you would need to donate 20% of it before you got anything back.

Mitt Romney Earned $21.6 Million in 2010 he would need to donate 1/32% before he got anything back.

What a Bargain.

reply to post by dakota1s2

Originally posted by dakota1s2
You are a shill for Obama.

Well... It depends on your definition of the word. I support Obama in this election. I guess if anyone supports anyone, they are a shill? All the Ron Paul supporters are shills, and so are all the Romney supporters. If that's your definition, then yeah, I'm a "shill". Your point?

Originally posted by FlyersFan
Investment income is taxed at a lower percent than earned income. This is to encourage people to invest in the USA to help the economy. IT IS TOTALLY LEGAL. Of course, people put their money into off shore accounts to save themselves paying taxes they dont' have to pay. ( It is totally legal as well.) So taxing investment income at a lower rate may not work for getting investments in the USA .. but you can't fault anyone for following the rule of tax law.

Which is why Scraps from the Table or Trickle Down as some call it does not work.

reply to post by FlyersFan

It's his money .. he can keep it or give it away as he wishes. Nothing wrong with that.

He is also giving it to himself through his own charity then writing it off on his taxes.

His charity only has to spend %5 of the money each year to qualify as non-profit it then donates to the Mormon Church. Check the links.

The big deal is he didn't file for the deduction so it would inflate his Taxes to above 14% but he can later take the deduction after the election. Romney stated he has never paid under 14% in taxes but if he keeps to his other statement that he never pays more than he has to then he is lying.

reply to post by FlyersFan

Originally posted by FlyersFan
Where did he cheat on his taxes?
...
IT IS TOTALLY LEGAL.

You don't have to do anything illegal to cheat. Cheating on your boyfriend isn't against the law, yet it's still cheating. He cheats by placing money in protected foreign back accounts so he doesn't have to pay the taxes on it that he OWES to this country.

but you can't fault anyone for following the rule of tax law.

Maybe YOU can't fault him. But I can and I do. He's a low-life cheater who doesn't deserve to lead this country.

Originally posted by Benevolent Heretic
He cheats by placing money in protected foreign back accounts so he doesn't have to pay the taxes on it that he OWES to this country.

- The law says he can do it. So he's not cheating.
- He doesn't owe money if he's following the rule of law.
- Just because someone has more money doesn't mean they owe it to the government.

Maybe YOU can't fault him. But I can and I do.

So you call him a cheater even though he's not cheating.
Okay. Got it.

If he does not take the tax deduction he is lying about never paying more than he has to.

If he does take the tax deduction then it drops his taxes below 14% then he is lying about how much he pays in taxes.

Either way he has been caught lying.

This guy is possibly the biggest joke to ever run for POTUS.

There actually is not one single issue on which he hasn't done a total 180. He literally opposes everything he stood for only 2 years ago. The fact that the republican hopes rest with this man is an absolute joke. What were they thinking when nominating him? Were his colleagues all too stupid during the primaries? Sure seems that way. Obaba really is extremely lucky indeed.


Posted Via ATS Mobile: m.abovetopsecret.com

Originally posted by Grimpachi
He is also giving it to himself through his own charity then writing it off on his taxes.

I haven't heard this. Could you provide a link so I can read up? Thanks.
I don't know if that's legal or not.

The big deal is he didn't file for the deduction so it would inflate his Taxes to above 14% but he can later take the deduction after the election. Romney stated he has never paid under 14% in taxes but if he keeps to his other statement that he never pays more than he has to then he is lying.

IS IT LEGAL? If it's legal, then it's a loophole that can be closed.

You all can't fault a business man for legally using the system that is in place. Well .. you CAN fault him all you want .. but you'd be in error for saying he 'cheats' if he is following the rule of law and trying to keep the money he has earned.


This is the problem with the 'spread the wealth' gang ... The government over spends and it mishandles money and yet the 'spread the wealth' folks want to steal money others have earned (saying that those people someone 'owe it' because they have more) in order to keep feeding the government machine. How about stopping the out of control spending so that no one has to pay big taxes and so people all over the country can keep more of their own money instead of having it stolen from them supposedly 'for the greater good'. That makes much more sense.

reply to post by FlyersFan

cheat/CHēt/
Verb:
Act dishonestly or unfairly in order to gain an advantage, esp. in a game or examination: "she cheats at cards".

Romney acts unfairly in order to gain an advantage. He hides his money offshore to gain the advantage of keeping more of his money than is FAIR. He CHEATS the country of his fair share.

FAIR does not equal LEGAL.
CHEAT does not equal ILLEGAL.

If your morals state that as long as it's legal, it's fair, then that's your choice. But remember, it's legal in Iran to publicly stone a woman for adultery. Hey, it's legal! It's fair!

But not everyone feels that way. Cheating has nothing to do with legality, in my world.

reply to post by FlyersFan

I haven't heard this. Could you provide a link so I can read up? Thanks.

The link is in the OP

I am not saying he is cheating what he is doing is perfectly legal. Maybe this is one of the loopholes he was talking about closing it seems like he is very familiar with it.

I am just proving he is lying.

BTW Tyler Charitable Foundation is his foundation.

Originally posted by spinalremain
This guy is possibly the biggest joke to ever run for POTUS.

He was an extremely poor choice for the republicans to put forward. But as far as 'the biggest joke' ... ... there have been plenty to fit that title. Cynthia McKinney. Gary Hart. Al Sharpton. Michelle Bachman. John Edwards. Rick Perry. John Kerry. etc etc