Posted on 08/16/2012 1:31:01 PM PDT by RobinMasters
Mitt Romney says he's never paid less than 13 percent of his income in taxes during the past decade, the most complete explanation of his tax returns to date.
Romney told reporters Thursday in South Carolina that Democratic Senate Majority Leader Harry Reid's claim that Romney paid no taxes in some years is, quote, "totally false." Reid had claimed it was possible Romney was refusing to release more than two years of returns was because Romney didn't want to reveal that he had paid no taxes.
“I did go back and look at my taxes and over the past 10 years I never paid less than 13 percent. I think the most recent year is 13.6 or something like that. So I paid taxes every single year,” he told reporters Thursday.
He says he's also given generously to charity and that, including those contributions, he's given up more than 20 percent of his income each year.
Romney has released his 2010 tax return and says he'll release his 2011 return before the Nov. 6 election.
Democrats — particularly Senate Majority Leader Harry Reid, D-Nev. — have pounced on Romney over how much he has paid in taxes beyond the two years he released early in his campaign. Reid has been the most vocal, accusing Romney, without giving any proof, of failing to pay taxes.
Team Obama has pointed to the secrecy surrounding the taxes as evidence that he would provide a tax scheme that would benefit the wealthy, like himself, over the average American.
(Excerpt) Read more at newsmax.com ...
how does someone get away with paying (at least 13%)?
What about the AMT?
how does someone get away with paying (at least 13%)?
What about the AMT?
how does someone get away with paying (at least 13%)?
What about the AMT?
harry reid is a lowlife commie liar. nobody likes him. tell him i said so
He shouldn’t have done this. Now the calls will get louder - “well, what are you hiding, then?” I think he was past this, or at least it wasn’t on anyone’s front burner anymore. Now it will come back.
I’m not sure if the AMT applies to capital gains.
He should have said nothing except he complied with all laws, paid taxes, and gave generously to charity.
I don't blame Romney - he would be a fool to pay more than he has to (don't hate the player - hate the game).
Currently we could meet all Federal obligations with all of us paying a flat tax rate of something around 19%. While this would fund a massive bloated government well beyond the bounds envisioned by our Constitution - why do I have to pay so much MORE than that %?
Mitt’s one of them guys... been runnin’ president since he was 9 years old. Does anybody really think a guy like that doesn’t pay taxes?
He should have told Reid, 'either put up or shut up! Where is all the documentation missing from Barry - be concerned about you own side and what you 'allowed' through the cracks. What about his CT SS number? SO MUCH ammo and he's not using it! Why would that be?
The Democrats have moles inside of the IRS. I would not be suprised if parts of his tax returns or audit files are selectively leaked in late October.
My guess is that he pays more in taxes per year than most of us will pay in our entire lifetimes. I don't begrudge him his low tax rate. The real question is this - what Federal government service does he use that I don't, that he has to pay this much money?
Invest in muni bonds. No taxes. Wow, I “made” $xx,xxx and paid no taxes.
People are stupid, Dems take advantage of their stupidity. We let them.
Mitt.. QUIT TALKING ABOUT IT!! SHUT UP! Nobody relevant cares about it.
I hope there's a punch line coming, because as of this moment, this looks like a blunder.
Mitt should have never talked about his tax rate because there are so many people, like you, who do not understand why he is paying 13-15%. He has already paid income tax on all this money once, when he earned it and it was taxed as income. Now he is paying capital gains taxes of 13-15% again. So he is being double taxed. Of course you won’t hear that from the main stream news or politicians.
“Is it any surprise that the system has a thousand and one loopholes that allow a very very wealthy man like Romney to pay only 13% of his income in taxes while most of the rest of us pay more than twice that?”
Whoa there....just because you are in a certain bracket, it doesn’t mean you pay that.
I make $75k, and pay 6.6% to Federal taxes. Yes I also pay social security on all my income (unlike people who make over $105k); but, that is different, and certainly not in the mix as far as a flat tax is concerned.
I am open to the flat tax and fair tax....but please don’t get sucked in to believing the rhetoric that Romney pays less taxes than the rest of us. Maybe after my kids leave home, I get the house paid off and quit itemizing, and my income goes up 25% , I’ll get up to the 13% level. For now though, Romney pays more taxes than me.
Yep. And it doubly looks like he's hiding something because of how long it took the campaign to respond.
He's in no-man's land on this.
I believe Romney pays Capital Gains, not income taxes.
Some one please correct me if I am wrong.
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