mavs>spurs
09-21-2012, 08:10 PM
Great fucking american :cry
http://www.ft.com/intl/cms/s/0/8fc4288e-03f9-11e2-b91b-00144feabdc0.html#axzz27983PzmL
Romney releases tax return details
By Anna Fifield in Washington and Richard McGregor in Woodbridge, Virginia
©AFP
Mitt Romney has released details of 20 years’ worth of tax payments in an effort to rebut claims of secrecy over his personal income and steady his stuttering presidential bid after weeks of campaign mishaps.
The Republican presidential candidate also released his full tax return for 2011, which showed that he voluntarily paid more tax than required by reducing allowable deductions for charitable contributions.
The document drop came at the end of a week that also started with drama for the Republican challenger, who is slipping behind Barack Obama in the race for the White House.
Mr Romney was thrown off course on Monday by a leaked video showing him criticising poorer Americans as “victims”, while on Friday his wife’s campaign aeroplane was forced to make an emergency landing in Colorado after its cabin filled with smoke.
Mr Romney had previously refused to go beyond his promise to release two years of full tax returns, a limit which Mr Obama had used to portray him as rich and out of touch.
The Republican’s 2011 tax return showed that the candidate – and his wife, Ann – paid $1.9m in taxes on $13.7m in income, derived mostly from investments. That put their effective tax rate at 14.1 per cent, according to a blog post by Brad Malt, the trustee who manages Mr Romney’s wealth.
The Romneys donated $4m to charity last year, nearly 30 per cent of their income but claimed a tax deduction for only $2.25m of this, pushing the candidate’s effective tax rate higher.
“The Romneys’ generous charitable donations in 2011 would have significantly reduced their tax obligation for the year,” Mr Malt wrote.
Under questioning about his taxes this year, Mr Romney had said he would not be qualified to be president if he paid more taxes than were required.
“I don’t pay more than are legally due and frankly if I had paid more than are legally due, I don’t think I’d be qualified to become president,” he told ABC News in July.
Mr Romney pays a relatively low rate because most of his income comes in the form of dividends and capital gains, which are taxed at a lower rate then ordinary income.
After intense pressure from Democrats, the campaign also released a letter from PwC, the professional services firm, covering the Romneys’ tax filings from 1990 to 2009 and backing up the candidate’s claim on the campaign trail that he had never paid less than 13 per cent in tax. It said the Romneys’ average annual effective federal tax rate was 20.2 per cent over the 20-year period, with the lowest rate being 13.66 per cent.
Hey Boutons, when was the last time you sent in extra tax money to help out the big government you love so much?
http://www.ft.com/intl/cms/s/0/8fc4288e-03f9-11e2-b91b-00144feabdc0.html#axzz27983PzmL
Romney releases tax return details
By Anna Fifield in Washington and Richard McGregor in Woodbridge, Virginia
©AFP
Mitt Romney has released details of 20 years’ worth of tax payments in an effort to rebut claims of secrecy over his personal income and steady his stuttering presidential bid after weeks of campaign mishaps.
The Republican presidential candidate also released his full tax return for 2011, which showed that he voluntarily paid more tax than required by reducing allowable deductions for charitable contributions.
The document drop came at the end of a week that also started with drama for the Republican challenger, who is slipping behind Barack Obama in the race for the White House.
Mr Romney was thrown off course on Monday by a leaked video showing him criticising poorer Americans as “victims”, while on Friday his wife’s campaign aeroplane was forced to make an emergency landing in Colorado after its cabin filled with smoke.
Mr Romney had previously refused to go beyond his promise to release two years of full tax returns, a limit which Mr Obama had used to portray him as rich and out of touch.
The Republican’s 2011 tax return showed that the candidate – and his wife, Ann – paid $1.9m in taxes on $13.7m in income, derived mostly from investments. That put their effective tax rate at 14.1 per cent, according to a blog post by Brad Malt, the trustee who manages Mr Romney’s wealth.
The Romneys donated $4m to charity last year, nearly 30 per cent of their income but claimed a tax deduction for only $2.25m of this, pushing the candidate’s effective tax rate higher.
“The Romneys’ generous charitable donations in 2011 would have significantly reduced their tax obligation for the year,” Mr Malt wrote.
Under questioning about his taxes this year, Mr Romney had said he would not be qualified to be president if he paid more taxes than were required.
“I don’t pay more than are legally due and frankly if I had paid more than are legally due, I don’t think I’d be qualified to become president,” he told ABC News in July.
Mr Romney pays a relatively low rate because most of his income comes in the form of dividends and capital gains, which are taxed at a lower rate then ordinary income.
After intense pressure from Democrats, the campaign also released a letter from PwC, the professional services firm, covering the Romneys’ tax filings from 1990 to 2009 and backing up the candidate’s claim on the campaign trail that he had never paid less than 13 per cent in tax. It said the Romneys’ average annual effective federal tax rate was 20.2 per cent over the 20-year period, with the lowest rate being 13.66 per cent.
Hey Boutons, when was the last time you sent in extra tax money to help out the big government you love so much?