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Thu Aug 2, 2012, 05:58 PM

What if Romney not only paid zero taxes for 10 years, but what if he also got a refund?

What if Romney paid a negative tax rate, getting money back from Uncle Sam?

This article explains how companies like General Electric, Bank of America, Citibank, Chevron and ExxonMobil regularly pay negative tax rates by gaming the system using exemptions and deductions:

It isn't uncommon for a large corporation to pay a negative U.S. tax rate, given the numerous exemptions and deductions corporate lobbyists have succeeded in adding to the tax code through lobbying Ways and Means and Finance Committee chairmen and ranking members over the years. These same corporations, like General Electric, Bank of America, Citibank, Chevron and ExxonMobil got more back in federal tax refunds last year than any of us would make over several lifetimes. Some of these corporations, like Corning Inc., have the audacity to complain about high corporate taxation after paying $0 in U.S. taxes and getting a refund.

http://www.huffingtonpost.com/carl-gibson/mccain-romney-tax-returns_b_1726619.html


It's entirely possible that Romney knows how to game the system using numerous exemptions and deductions. He's an expert at it. Romney got a $77,000 deduction for his wife's horse for cryin' out loud. Clearly this is someone who has been gaming the system.

I think it's entirely possible that Romney not only paid no taxes, but he actually got money back from the government during those 10 years. Essentially he paid zero taxes while making millions and taking money from average Americans using the tax convoluted tax code.

Romney really needs to release his returns so this speculation can end and the facts are on the table.

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Reply What if Romney not only paid zero taxes for 10 years, but what if he also got a refund? (Original post)
Cali_Democrat Aug 2012 OP
Enrique Aug 2012 #1
freshwest Aug 2012 #2
Warpy Aug 2012 #3
monmouth Aug 2012 #4

Response to Cali_Democrat (Original post)

Thu Aug 2, 2012, 06:00 PM

1. wouldn't that be something? n/t

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Response to Enrique (Reply #1)

Thu Aug 2, 2012, 06:01 PM

2. Par for the corporate course, I'd say. And proud of it! Meanwhile, the GOP takes away...

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Response to Cali_Democrat (Original post)

Thu Aug 2, 2012, 06:02 PM

3. I honestly think the reason he hasn't released those returns

isn't that he stiffed the government, which he undoubtedly did, but that he stiffed the Mormon church.

They might kick him off his planet.

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Response to Cali_Democrat (Original post)

Thu Aug 2, 2012, 07:53 PM

4. He had to know, going in, that the tax returns would have to be revealed. Why in heavens name did

he bother running if he knew this? Did he think he was so special that people would say "never mind." It's mind boggling.

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