Not So Fast, Mr. Romney. A Corporation is a Person, is a Person, is a Person.

null

Stop it,  Governor Romney. Stop  fudging and skirting around the truth.  Yesterday, on 60 Minutes you did it again.   OK, you paid 14.1 % in federal income taxes in  2011. Th lion's share, I presume,  on capital gains and dividends.   We learned that only last Friday when you deigned to open up a sliver of sunlight on your federal taxes.  And that's after your preparers tweaked the figures so the rate would  not have been a measly 9.4%.  What a sweetheart  deal!

So you kind of fessed up. But when you were asked how you would  explain these bargain rates to a wage earner who's taxed at 28% or higher, what did you say?  Your income was taxed twice? Bain paid on it too?   Really?

I think you forgot Republican Talking Points 101.  Remember, a corporation is a person?  And although some people might believe that you have multiple personalities, the law counts you as "one sole and solitary person". Ergo, "your" 2011  income was actually  only taxed once.  What Bain paid,  after taking all its deductions---including foreign tax credits---and after deferring taxes, is  actuarially  irrelevant.

You paid  9.4%...I mean 14.1%.  So just stop being disingenuous. Pure and simple, you're playing a shell game when  you have  Bain  do any heavy lifting of  YOUR tax burden.  And by the way do you mind if we see a few tax returns while you still were at  Bain?

I won't hold my breath.

 

Filed under: politics

Tags: 60 Minutes, Bain Capital

Comments

Leave a comment
  • What does it matter to you if Romney paid 9 percent or 99 percent? The introduction of the income tax is a device used by politicians to control society.

    I once had a corporation, where I was paid partially in dividends. So what? You can take advantage of any LEGAL allowance in the tax code. I also have a small amount of stocks, which, if I sold now would be taxed at a lower rate than what President Obama wants to install. What good does it do you if you take more of the money from those dividends?

    If all the millionaire and all the billionaires paid 100% of their income to the US Treasury, how would that effect your life and your neighbors. You must understand that, in relation to the annual deficit, all the revenue is a drop in the bucket.

    This is such a specious argument. This is the best the Obama proponents have? Yes.

    Have you contributed more than what your are legally required to do -- to the US Treasury? I think, honestly, you should. Certainly it would be "fair", as I assume you are living comfortably, while there is probably a homeless person living on a heating grid not far from you. Be a leader...money and the mouth, you know.

    Envy and jealously. That is the best the Obama-ites can do.

  • In reply to Richard Davis:

    As opposed to the Romneyites, who have nothing, and Richard, who wants to go back to 1928 (as you said on "Get Unemployed" with reference to FDR policies coming back, and, of course saying you have offshore accounts, too).

    Romney's income tax returns are relevant to the extent that he ever gets around to proposing a tax reform plan, which he has promised by not delivered. For instance, if the effective rate is because he gave 40% to charity, past and reportedly future limits on charitable contributions should be investigated. Maybe but for Romney's contributions, necessary charitable work would not be done, but I think that anyone who proposes tax reform has to look into that issue.

    For a couple of days before the debates, Romney sure seems to want to remain a clean slate.

Leave a comment