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LSURussian
LSU Fan
Member since Feb 2005
85178 posts

Romney just released his tax info for the last 20 years, including 2011

It's on CNBC right now, the hack John Harwood speaking. No link yet.

Romney never paid less than $1 million/year in federal taxes over that 20 years and the lowest effective tax rate was 13%.

For 2011, he paid $1.9 million with an effective rate of 14%.

Harwood was asked if this disclosure would change the Dems conversation regarding Romney's taxes and, of course, he said, "No."

ETA: More details: Romney's average effective tax rate was 20% over the 20 years.
This post was edited on 9/21 at 12:54 pm



GumboPot
LSU Fan
Saints Fan
Member since Mar 2009
30560 posts

re: Romney just released his tax info for the last 20 years, including 2011
quote:

Romney just released his tax info for the last 20 years, including 2011


Dem reaction: :omg:


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Bunta
LSU Fan
Member since Oct 2007
7517 posts
Online

re: Romney just released his tax info for the last 20 years, including 2011
WHAT IS HE HIDING? HE'S COOKED!!!!!!!! !!!!!!!

/DA


WaveHog
Arkansas Fan
Austin, TX
Member since May 2008
5262 posts

re: Romney just released his tax info for the last 20 years, including 2011
quote:

Romney just released his tax info for the last 20 years


:popkern:


Decatur
LSU Fan
Member since Mar 2007
18125 posts

re: Romney just released his tax info for the last 20 years, including 2011
He's releasing 2011s like he's been saying he'd do for almost a year now and just releasing a "summary" of his 1990-2009 returns.


TK421
LSU Fan
Baton Rouge
Member since Oct 2011
9161 posts

re: Romney just released his tax info for the last 20 years, including 2011
quote:

Romney never paid less than $1 million/year in federal taxes over that 20 years and the lowest effective tax rate was 13%.


Also said he averaged a 20% effective tax rate.
This post was edited on 9/21 at 12:55 pm


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BottomlandBrew
LSU Fan
Member since Aug 2010
15641 posts

re: Romney just released his tax info for the last 20 years, including 2011
quote:

Harwood was asked if this disclosure would change the Dems conversation regarding Romney's taxes and, of course, he said, "No."


The left has Romney's tax info and the right has Obama's birth certificate. Stalemate of bull shite.


CptBengal
USA Fan
BR Baby
Member since Dec 2007
46324 posts

re: Romney just released his tax info for the last 20 years, including 2011
and here

we


go


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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
121819 posts
Online

re: Romney just released his tax info for the last 20 years, including 2011
quote:

It's on CNBC right now, the hack John Harwood speaking. No link yet.

Romney never paid less than $1 million/year in federal taxes over that 20 years and the lowest effective tax rate was 13%.




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PeaRidgeWatash
LSU Fan
Down by the docks of the city
Member since Dec 2004
11880 posts

re: Romney just released his tax info for the last 20 years, including 2011
quote:


He's releasing 2011s like he's been saying he'd do for almost a year now and just releasing a "summary" of his 1990-2009 returns.



Yep. Nothing new here.


Godfather1
Army Fan
SE Louisiana
Member since Oct 2006
35797 posts
Online

re: Romney just released his tax info for the last 20 years, including 2011
quote:

Romney just released his tax info for the last 20 years, including 2011


BOOM.

Suck it, bitches.


LSURussian
LSU Fan
Member since Feb 2005
85178 posts

re: Romney just released his tax info for the last 20 years, including 2011
quote:

and just releasing a "summary" of his 1990-2009 returns.

Which was compiled by his tax CPA.

What is your point?


WaveHog
Arkansas Fan
Austin, TX
Member since May 2008
5262 posts

re: Romney just released his tax info for the last 20 years, including 2011
LINK

quote:

This morning, Gov. and Mrs. Romney filed their 2011 tax return with the IRS. At 3:00pm today, the Romney for President campaign will be posting the 2011 return online.

The complete 2011 tax return, with full schedules, statements, and attachments, will be made available with all other previously-disclosed information at www.mittromney.com/disclosure.

Also posted will be a notarized letter from the Romneys’ tax preparer, PricewaterhouseCoopers, LLP (PWC), giving a summary of tax rates from the Romneys’ tax returns for the 20-year period of 1990-2009.

In advance of the posting of these new documents, I wanted to provide some top-line details.

Regarding the newly-filed 2011 Tax Return:

•In 2011, the Romneys paid $1,935,708 in taxes on $13,696,951 in mostly investment income.
•The Romneys’ effective tax rate for 2011 was 14.1%.
•The Romneys donated $4,020,772 to charity in 2011, amounting to nearly 30% of their income.
•The Romneys claimed a deduction for $2.25 million of those charitable contributions.
•The Romneys’ generous charitable donations in 2011 would have significantly reduced their tax obligation for the year. The Romneys thus limited their deduction of charitable contributions to conform to the Governor's statement in August, based upon the January estimate of income, that he paid at least 13% in income taxes in each of the last 10 years.
As with the 2010 tax return, the 2011 tax return will appear as four separate documents. It includes Governor and Mrs. Romney's Form 1040 as well as three underlying Massachusetts trusts detailing the sources of their income. Those are The W. Mitt Romney Blind Trust, The Ann D. Romney Blind Trust, and The Romney Family Trust.

The investments within the trusts are managed on a blind basis by me, the trustee. I have sole responsibility for making, holding and disposing of the investments.

Regarding the PWC letter covering the Romneys’ tax filings over 20 years, from 1990 – 2009:

•In each year during the entire 20-year period, the Romneys owed both state and federal income taxes.
•Over the entire 20-year period, the average annual effective federal tax rate was 20.20%.
•Over the entire 20-year period, the lowest annual effective federal personal tax rate was 13.66%.
•Over the entire 20-year period, the Romneys gave to charity an average of 13.45% of their adjusted gross income.
•Over the entire 20-year period, the total federal and state taxes owed plus the total charitable donations deducted represented 38.49% of total AGI.
During the 20-year period covered by the PWC letter, Gov. and Mrs. Romney paid 100 percent of the taxes that they owed.

Finally, in addition to new documents related to tax filings, the campaign will also be posting on the same website physician letters for both Gov. Romney and Rep. Ryan, making public their current state of health.

After you have reviewed all of the newly-posted documents, you may have further questions. The campaign asks that you direct them to an e-mail account set up for that purpose. That e-mail address is returns @ mittromney.com.

Thank you.

R. Bradford Malt is a partner at Ropes & Gray, LLP. He has been the trustee of the Romney’s blind trust since 2003.




dewster
Vanderbilt Fan
Pittsburgh
Member since Aug 2006
10138 posts

re: Romney just released his tax info for the last 20 years, including 2011
I would never have released it. Nothing plays on jealousy more than counting someone else's earnings. This will play right into Obama's electorate.
quote:

Over the entire 20-year period, the Romneys gave to charity an average of 13.45% of their adjusted gross income.


His charitable donations are impressive. Look for this on pg 16 of the NYT tomorrow.

Media won't use the effective tax rate either.
This post was edited on 9/21 at 1:23 pm


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GumboPot
LSU Fan
Saints Fan
Member since Mar 2009
30560 posts

re: Romney just released his tax info for the last 20 years, including 2011
quote:

He's releasing 2011s like he's been saying he'd do for almost a year now and just releasing a "summary" of his 1990-2009 returns.




Let the parsing begin.


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Zach
LSU Fan
Member since May 2005
70692 posts
Online

re: Romney just released his tax info for the last 20 years, including 2011
I want to see his grandfather's tax returns from 1903. What does he have to hide?


LSUwag
USA Fan
St Augustine Beach
Member since Jan 2007
7754 posts
Online

re: Romney just released his tax info for the last 20 years, including 2011
Very well times since Romney has had a difficult week after the 47% video.

I hope he challenges Obama to release his college transcripts now.


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LSURussian
LSU Fan
Member since Feb 2005
85178 posts

re: Romney just released his tax info for the last 20 years, including 2011
quote:

Yep. Nothing new here.


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BloodRunsRed&Black
Georgia Fan
Mooresville, NC
Member since Oct 2004
370 posts

re: Romney just released his tax info for the last 20 years, including 2011
I will probably vote for Obama, but I've never understood the hard-on that the Democrats have had over Romney's tax returns...I agree that an 13-15 percent is too low for him, but its the freaking law right now. We're busting a dudes balls because he followed the law and didn't say "you know what? I think I'm going to donate an extra 10% to the government this year...". Ridiculous.


Tiger4Ever
UTEP Fan
Member since Aug 2003
35967 posts

re: Romney just released his tax info for the last 20 years, including 2011
But what about Reid's source!?

FORWARD!


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