Romney's Taxes

[xBiffx]

What penalties?

There would be no penalties in this situation, since he overpaid, not underpaid. It is clear he intentionally overpaid taxes for political reasons, something he himself said would disqualify someone from being President.

And what in the world are you talking about regarding penalties? Please either explain or admit you are making up tax law from your imagination. He would not be facing any tax penalty for amending his 2011 return to claim the full deductions later.

So you think that giving the government a tax free loan especially to the tune of hundreds of thousands of dollars is without penalty?

I love how you assumed I meant IRS penalties (except perhaps dank69). Thanks for falling right into that trap. Sometimes, its too easy to show what happen when you ASSume things.

 

[GarfieldtheCat]

ROFLMAO!

People complain he didn't pay enough taxes. Now the same people are complaining that he didn't take enough deductions so that he could pay more taxes. Now he is evil for paying more than the legal amount. So those same people are now saying he should have payed less taxes. Wow.

Liberal mental gymnastics once again.

LOL.....troll doesn't understand.

The fact that once again, he has lied to the entire country, claiming one thing, then another, then another again. That is the problem, and why people don't like and trust him.

If he had said I pay the minimum period, it wouldn't be an issue (of course, then questions would be raised why a rich guy like Romney only paid 9% in taxes).

But he has once again flip-flop-flip-flopped multiple times. Guess you don't mind him lying to you all the time.

 

[xBiffx]

LOL.....troll doesn't understand.

The fact that once again, he has lied to the entire country, claiming one thing, then another, then another again. That is the problem, and why people don't like and trust him.

If he had said I pay the minimum period, it wouldn't be an issue (of course, then questions would be raised why a rich guy like Romney only paid 9% in taxes).

But he has once again flip-flop-flip-flopped multiple times. Guess you don't mind him lying to you all the time.

LOL, perhaps you need to understand what it means to be a politician. The bolded seems to be the definition. But go ahead and keep pretending your guy's shit doesn't stink or that your team isn't guilty.

Really, there are worse things to hammer the guy on, more harmful lies. The left continues to dwell on this overpayment lie as if it damaged or hurt anyone. Politicians are going to lie, that seems to be an undisputed fact. When those lies start hurting or changing other people's lies, let me know, then I will actually give a shit.

 

[Thump553]

By tax avoidance history you mean donating to charity?

Charitable donation is a part-a very admirable part. I was alluding more to the convoluted trusts, foreign accounts, etc. that fill up his returns, vehicles whose major or even sole function is to avoid taxes. Willard Romney has obessed on tax avoidance.

 

[cybrsage]

Dollars to Donuts says he pays a tax firm to handle his taxes for him.

 

[Thump553]

So you think that giving the government a tax free loan especially to the tune of hundreds of thousands of dollars is without penalty?

I love how you, and others, assumed I meant IRS penalties. Thanks for falling right into that trap. Sometimes, its too easy to show what happen when you ASSume things.

Before you criticize people for assuming, you should at least make some effort to use the proper terms. Potential foregone interest income is not, and never has been, a "penalty." Clarity of language is the first step towards clarity of thought, grasshopper.

 

[dank69]

So you think that giving the government a tax free loan especially to the tune of hundreds of thousands of dollars is without penalty?

I love how you, and others, assumed I meant IRS penalties. Thanks for falling right into that trap. Sometimes, its too easy to show what happen when you ASSume things.

Nice backpedal. No wonder you like Romney. If you didn't mean IRS penalties you wouldn't have used the word penalty. I look forward to you trying to explain how the downside of 'giving the government a tax free loan especially to the tune of hundreds of thousands of dollars' would qualify for the term 'penalty.'

 

[xBiffx]

Before you criticize people for assuming, you should at least make some effort to use the proper terms. Potential foregone interest income is not, and never has been, a "penalty." Clarity of language is the first step towards clarity of thought, grasshopper.

Giving someone money that otherwise would have been used to invest and make more money just to then take it back later does not happen without penalty. If you can't recognize this then I have no doubt why you have issues with rich people like Romney. They know the value of money and the time value of the dollar, unlike yourself.

But go ahead and turn this into a semantic game challenge, mister pedantic, if it makes you happy you got your point across.

 

[xBiffx]

Nice backpedal. No wonder you like Romney. If you didn't mean IRS penalties you wouldn't have used the word penalty. I look forward to you trying to explain how the downside of 'giving the government a tax free loan especially to the tune of hundreds of thousands of dollars' would qualify for the term 'penalty.'

So I guess that means you were referring to the IRS. I should retract what I said since I was trying to give at least you the benefit of the doubt. My bad.

Typical response once you know you've just been had. Try and make it look like the other party is at fault. This is getting to be very entertaining.

 

[dank69]

And Obama said that if he couldn't fix the economy, he'd be a one term president. Looks like we now have our top 2 candidates disqualify themselves by their own words. So where do we go from here?

This is called a deflection, and it is a shitty one. I'll give you the benefit of the doubt and assume you are ignorant and not just retarded. When Obama said that, he meant he didn't think the people would re-elect him, not that he wouldn't qualify for the presidency. Everyone knows this. Don't be like Bachmann.

 

[dank69]

So I guess that means you were referring to the IRS. I should retract what I said since I was trying to give at least you the benefit of the doubt. My bad.

Typical response once you know you've just been had. Try and make it look like the other party is at fault. This is getting to be very entertaining.

We all believe that when you brought up the term "penalty" when discussing taxes you didn't mean "IRS penalty." Honest. We ALL believe you.

 

[xBiffx]

We all believe that when you brought up the term "penalty" when discussing taxes you didn't mean "IRS penalty." Honest. We ALL believe you.

Keep with the same tactic. Keep trying to make it look like I did or said something wrong. It may work out. I am sure there are at least two others who will agree with you.

Doesn't change the fact that you ASSumed too much.

I won't make the same mistake and assume from your continuing responses that you are a complete idiot.

 

[dank69]

Keep with the same tactic. Keep trying to make it look like I did or said something wrong. It may work out. I am sure there are at least two others who will agree with you.

Doesn't change the fact that you ASSumed too much.

I know exactly what you mean. The other day, I was discussing taxes with someone else and when I said I made some changes to my W-4, that person assumed I meant the IRS version of the form. I immediately started mocking him non-stop. What a fucking idiot he was.

 

[xBiffx]

I know exactly what you mean. The other day, I was discussing taxes with someone else and when I said I made some changes to my W-4, that person assumed I meant the IRS version of the form. I immediately started mocking him non-stop. What a fucking idiot he was.

So you move to the tactic of making up an anecdote filled with false equivalence to get your point across because the last one wasn't working? Keep trying. At this point, its probably easier (and better) for you to just accept that you were wrong, man up, and move on. I have no doubt you can, but I have serious doubt you will.

At the risk of you continuing to derail the thread I will just add that if it helps, it doesn't matter either way to me if you think you were right.

 

[cybrsage]

Does anyone here honestly think Romney does his own taxes?

 

[dank69]

So you move to the tactic of making up an anecdote filled with false equivalence to get your point across because the last one wasn't working? Keep trying. At this point, its probably easier (and better) for you to just accept that you were wrong, man up, and move on. I have no doubt you can, but I have serious doubt you will.

At the risk of you continuing to derail the thread I will just add that if it helps, I don't care if you think you were right.

I'm trying to agree with you here. Jeez man, why you gotta be so mean? You don't care about me? That fucking hurts, man! :'(

 

[cybrsage]

That is an example of a problem an anti-insult rule would not prevent. I feel for you, dank69. :'(

 

[Fern]

What would be an equitable solution to this dilemma?
-snip-

Other countries will adjust for inflation. I.e., inflation is removed and the true gain is taxed at ordinary rates. That is the very best method, however, our govt seems to feel it's too complicated.

Fern

 

[Fern]

Does anyone here honestly think Romney does his own taxes?

We can see from the link to his tax return that PriceWaterhouseCooper does his taxes. It's at the bottom of pg 2 of Form 1040.

Fern

 

[MixMasterTang]

Does anyone here honestly think Romney does his own taxes?

No, a firm does his taxes and in all of the documents released it says who did them.

 

[cybrsage]

So why are people here saying Romney did ZYX on his taxes? He did not do his taxes.

 

[Todd33]

So why are people here saying Romney did ZYX on his taxes? He did not do his taxes.

It's irrelevant, he is responsible for them. Everything done or not done he signs off on.

 

[Pens1566]

It's irrelevant, he is responsible for them. Everything done or not done he signs off on.

Cue semantics in 3 2 1 ...

 

[Fern]

It's irrelevant, he is responsible for them. Everything done or not done he signs off on.

Actually, it's quite relevant.

Reliance upon qualified tax professionals is a virtual guarantee against tax fraud charges etc. The taxpayer would owe the proper amount of taxes and interest, the law demands that.

(The caveat to the above would be in cases where the taxpayer lied to the tax professional. However, that would seem irrelevant here because the tax firm (PWC) is also the firm that does the accounting and taxes for all those Bain partnerships/LLCs. I.e., Romney couldn't lie to them, they're the ones who developed the data that goes into his personal tax return.)

Fern

 

[MixMasterTang]

Actually, it's quite relevant.

Reliance upon qualified tax professionals is a virtual guarantee against tax fraud charges etc. The taxpayer would owe the proper amount of taxes and interest, the law demands that.

(The caveat to the above would be in cases where the taxpayer lied to the tax professional. However, that would seem irrelevant here because the tax firm (PWC) is also the firm that does the accounting and taxes for all those Bain partnerships/LLCs. I.e., Romney couldn't lie to them, they're the ones who developed the data that goes into his personal tax return.)

Fern

You can dictate to them to NOT take a deduction though and by doing so there would be absolutely no laws broken and well within reason in this scenario.

Edit: And to NOT think that PWC said "Mr. Romney, we can lower your taxes by taking this extra deduction" is absurd. They are professionals and probably have a team of people that would have seen, noticed and informed him of that fact.