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Originally posted by Crakeur
reply to post by Kharron
no, what he's saying is that Romney hired a firm that knows the tax laws and, with that knowledge, his finances are structured to provide the greatest return with the smallest tax consequence. It's called tax planning and each person's tax structure will be different. I've had clients come to me, after doing their own taxes for years, and the first thing we do is look at how they prepared their returns and see where they might have screwed up. Happens all the time. People who are not familiar with the tax laws, and don't prepare returns on a regular basis, won't spot ways to save money, legally, like a tax preparer will.
HR Block, for the record, doesn't count here because, more often than not, they're worse than self-prepared returns.
Originally posted by twoandthree
The fact that few Americans understand the Capital Gains tax is disturbing. There are books and videos... even PBS shows that tell Americans how to wisely invest their money. Capital Gains is a different type of "income" and is taxed differently. In fact, there is great debate as to whether investment dividends and earnings should fall into the "income" category because it's investment money that fuels American businesses' operations and capital growth. Even more so, because Capital Gains tax is a tax on monies that have already been subjected to Personal Income Tax. In the bigger economic picture, capital gains tax is an unfair tax that inhibits economic growth. But that's not even the point here...
I wish I had over $4 million to give to charity, while also paying exactly what the federal income tax laws asked me to pay. That is such a great thing to do.
Is Romney's generosity something to make a scandal? That's what the MSM is doing. The Obama campaign has spun Romney's generosity as a though it were a crime and liability to be successful and charitable. Obama certainly doesn't donate his "fair share." But these two rivals have paid exactly what the government demanded of them pursuant to the current tax code.
If people hate the tax code, then change the tax code. If people hate a man for donating millions of dollars away that he could've kept in the bank, then they need to wake up and see that charitable giving has always been more effectively used than any monies ever given to the federal government.
I don't make their levels of income, but I pay more than a healthy proportion of my income toward charitable giving because non-profits tend to be the slim overhead shops run by people living meagerly just so they can accomplish real change and improvements in individuals' lives -- something the federal government has never done and will never be able to do without gross inefficiency and waste, and callous disregard for human life.
The MSM news story should be: WOW... look at how proportionally more generous Romney is than the incumbent.
Obama is lifetime community organizer and government hand-out mooch who only knows how to rile people up on distraction issues while he spends taxpayers money on his pet projects and golf. But no, Obama is still a previous media God that is above reproach.edit on 23-9-2012 by twoandthree because: capital gains is not the same rate as regular personal income tax.
Originally posted by Wrabbit2000
I figured he would release them..and said so....to all the hoots and hollering about Romney hiding things. He wasn't even the official candidate yet then. Not until Tampa closed out...and Clinton didn't even release most of his until '96 and his re-election for a more recently example in normal times. I wonder if they'll be any surprises?
Originally posted by Juggernog
reply to post by BritofTexas
pfft i can beat that
See that? Born in KENYA
edit on 21-9-2012 by Juggernog because: (no reason given)
Originally posted by paxnatus
reply to post by Zarniwoop
He gave over 4 ,000,000 to charities in 2011! He has also released a summary of his taxes
from 1990-2010! Now, go on, find fault with that as well!!
Obama hasn't released a damn thing!!
Originally posted by paxnatus
reply to post by LeatherNLace
Are you talking about the birth certificate that was proved fraudulent?
Originally posted by xuenchen
The source also has some pdf's of the returns.
Originally posted by fallow the light
I only payed 15% last year but got all of that covered due to my kid and filing as head of house hold, as well as earned income credit. Owed about $900 but got a check for $1300. I only made $6000 the whole year. I don't like Romney but shouldn't people be more mad at me then Romney?
I mean. I played the loopholes and got back more than I owed. This year I will owe around 30% thanks to the Fed Gov sending my student loans to collections. My fault? Obama' fault?
Originally posted by navy_vet_stg3
Now, it's time for Obama to release his school admission records...unless, of course, he has something to hide.
Originally posted by GunzCoty
reply to post by Chrisfishenstein
He also paid more in taxes than you will probably ever make.
I seen "poor/middle class" people get a refund for more then they paid in taxes, where is the out cry?
The fact is Romney released his tax records, yet Obama is still hiding everything.