Posted on 01/24/2012 1:32:12 PM PST by Nachum
I'm really struggling to work out what all the fuss is about over this one. It seems to me to be much ado about nothing. Breaking news: Mitt Romney is very rich. He also gave millions and millions of dollars to charity and to the taxman.
In the early hours of this morning, some 550 pages of Mitt Romney's tax returns and a 2011 tax summary were released by his campaign. Just after dawn, there was a long campaign conference call for bleary-eyed reporters in which an accountant (who sounded exactly like you'd imagine Mitt Romney's accountant would sound) went into details of Mitt millions in mind-numbing detail.
There was an air of grumpy efficency about the call, which was led by Ben Ginsberg, who was George W. Bush's lawyer during the Florida election recount in 2000. At one point Ginsberg noted that 26 people from Chicago were listening into the proceedings, a reference to the Obama campaign headquarters.
So what were the headlines? He raked in about $42 million in 2010 and 2011. His effective tax rate was just below 14 percent, lower than that for many American taxpayers. He paid $6.2 million to the taxman and donated a staggering $7 million to charity, including $4.1 million to the Mormon church.
OK, so Mormons are supposed to tithe 10 percent of their income. But it's to Romney's immense credit that he promised to do this in his youth and followed through with that - to the tune of scores of millions (maybe hundreds of millions) of dollars throughout his life.
(Excerpt) Read more at harndenblog.dailymail.co.uk ...
Investment and capital gains is paid at a lower rate because the money had already been taxed once as income before the investment. Therefore, the rate is reduced so a dollar is not taxed twice for the same thing.
It is not certain that Huntsman is a Mormon, Time tried to pin it down in an interview with him, and the author said she is more confused about it now than before, I was too after reading it.
He is a very weird fellow and is raising one daughter Hindu, and just married off another in a Christian church.
Mormonism isn’t a church, it is an evil cult, which seeks money and feeds the machine by converting Christians from God.
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