Fri Aug 17, 2012, 04:40 PM
Liberal_in_LA (28,633 posts)
Mitt Romney's 2010 Tax Disclosure missing 990-T form - campaign spokesperson won't respond
Presidential candidate Mitt Romney's tax returns may be more incomplete in their public release than was previously thought. Filings related to Romney's individual retirement account, already subject to press scrutiny, indicate that the presumptive GOP nominee should have filed a form accounting for unrelated business income taxes.
The unrelated business income tax is set up for tax-exempts like nonprofits and IRAs that engage in commercial activity. Not filing the form, known as a 990-T, may indicate that Romney's IRA funds are held by an offshore account in order to shield them from taxation. Romney campaign spokesperson Andrea Saul did not return multiple requests for the 990-T form, nor did she answer repeated questions related to the matter. From what Romney has disclosed, there is mounting circumstantial evidence that the IRA may hold offshore investments through what are known as "blocker corporations," which help him avoid paying taxes. Senator Max Baucus (D-Mont.) http://www.huffingtonpost.com/2012/08/17/mitt-romney-2010-tax-unrelated-business_n_1798152.html?utm_hp_ref=mostpopular
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63 replies, 8340 views
| Author | Time | Post | |
| Liberal_in_LA | Aug 2012 | OP | |
| The Magistrate | Aug 2012 | #1 | |
| AnotherMother4Peace | Aug 2012 | #30 | |
| Rosa Luxemburg | Aug 2012 | #59 | |
| progress2k12nbynd | Aug 2012 | #32 | |
| kestrel91316 | Aug 2012 | #54 | |
| mac56 | Aug 2012 | #56 | |
| Quantess | Aug 2012 | #57 | |
| kestrel91316 | Aug 2012 | #60 | |
| aint_no_life_nowhere | Aug 2012 | #2 | |
| AzDar | Aug 2012 | #3 | |
| malaise | Aug 2012 | #4 | |
| gordianot | Aug 2012 | #5 | |
| Ruby the Liberal | Aug 2012 | #6 | |
| goclark | Aug 2012 | #7 | |
| jillan | Aug 2012 | #8 | |
| sad sally | Aug 2012 | #9 | |
| Sekhmets Daughter | Aug 2012 | #52 | |
| ArcticFox | Aug 2012 | #53 | |
| sad sally | Aug 2012 | #62 | |
| MADem | Aug 2012 | #10 | |
| flamingdem | Aug 2012 | #11 | |
| flamingdem | Aug 2012 | #12 | |
| silvershadow | Aug 2012 | #13 | |
| flamingdem | Aug 2012 | #14 | |
| silvershadow | Aug 2012 | #16 | |
| flamingdem | Aug 2012 | #19 | |
| renate | Aug 2012 | #17 | |
| flamingdem | Aug 2012 | #18 | |
| Ineeda | Aug 2012 | #23 | |
| flamingdem | Aug 2012 | #25 | |
| Ineeda | Aug 2012 | #26 | |
| Politicalboi | Aug 2012 | #28 | |
| tex-wyo-dem | Aug 2012 | #37 | |
| Mopar151 | Aug 2012 | #44 | |
| ellenfl | Aug 2012 | #58 | |
| wryter2000 | Aug 2012 | #50 | |
| NYC Liberal | Aug 2012 | #20 | |
| renate | Aug 2012 | #33 | |
| NYC Liberal | Aug 2012 | #34 | |
| tex-wyo-dem | Aug 2012 | #38 | |
| NYC Liberal | Aug 2012 | #43 | |
| stopbush | Aug 2012 | #42 | |
| druidity33 | Aug 2012 | #35 | |
| silvershadow | Aug 2012 | #15 | |
| yourout | Aug 2012 | #21 | |
| klook | Aug 2012 | #22 | |
| WinstonSmith4740 | Aug 2012 | #24 | |
| Iliyah | Aug 2012 | #27 | |
| uponit7771 | Aug 2012 | #29 | |
| Peaceful Protester | Aug 2012 | #31 | |
| Voice for Peace | Aug 2012 | #48 | |
| Peaceful Protester | Aug 2012 | #36 | |
| Peaceful Protester | Aug 2012 | #39 | |
| Voice for Peace | Aug 2012 | #49 | |
| underthematrix | Aug 2012 | #40 | |
| lumpy | Aug 2012 | #41 | |
| nolabels | Aug 2012 | #45 | |
| Angry Dragon | Aug 2012 | #46 | |
| BrainMann1 | Aug 2012 | #47 | |
| treestar | Aug 2012 | #51 | |
| BumRushDaShow | Aug 2012 | #55 | |
| ellisonz | Aug 2012 | #61 | |
| Berlum | Aug 2012 | #63 |
Response to Liberal_in_LA (Original post)
Fri Aug 17, 2012, 04:43 PM
The Magistrate (80,505 posts)
1. So he Has Not even Released One Year, Sir, Let Alone The 'Two' His Wife And He Keep Babbling About
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The man is pathological, a congenital liar, I do not think he can help himself, he cannot speak without lying....
"Romney loves America like a tick loves a dog." |
Response to The Magistrate (Reply #1)
Fri Aug 17, 2012, 07:12 PM
AnotherMother4Peace (1,724 posts)
30. Ryan said he'll release 2 yrs "just like Romney has" huh?!?? Romney/Ryan = Devious Duo
Response to AnotherMother4Peace (Reply #30)
Sat Aug 18, 2012, 02:23 PM
Rosa Luxemburg (21,961 posts)
59. Audit time!
Response to The Magistrate (Reply #1)
Fri Aug 17, 2012, 08:02 PM
progress2k12nbynd (221 posts)
32. Agreed Sir. That's What I Think Sir.
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Thanks Sir. Have A Great Evening Sir.
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Response to progress2k12nbynd (Reply #32)
Sat Aug 18, 2012, 11:47 AM
kestrel91316 (45,363 posts)
54. If you are being snotty to The Magistrate, you'd do well to rethink that tactic.
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It won't end well for you.
He's in fact a retired judge, and one of our most respected DUers. You, OTOH are nobody. |
Response to kestrel91316 (Reply #54)
Sat Aug 18, 2012, 12:57 PM
Quantess (23,911 posts)
57. You can't read the newbie's mind.
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You can't know for sure that was an attempt to be snotty.
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Response to Quantess (Reply #57)
Sat Aug 18, 2012, 02:49 PM
kestrel91316 (45,363 posts)
60. ....which would be why I prefaced the post with that word "IF".
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I think the hit-and-run nature of the newbie post speaks volumes.
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Response to Liberal_in_LA (Original post)
Fri Aug 17, 2012, 04:43 PM
aint_no_life_nowhere (18,936 posts)
2. Multiple requests? At least the press is finally asking questions
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and I hope they don't let this go.
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Response to Liberal_in_LA (Original post)
Fri Aug 17, 2012, 04:44 PM
AzDar (8,756 posts)
3. Keep up the pressure...
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Response to Liberal_in_LA (Original post)
Fri Aug 17, 2012, 04:46 PM
malaise (105,913 posts)
4. Bwaaaaaaaaaaaaaah hahahahahahah
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Response to Liberal_in_LA (Original post)
Fri Aug 17, 2012, 04:48 PM
gordianot (6,471 posts)
5. Point should be made that he has not even released one year of taxes.
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That he has not released his real taxes for even one uear should be taken up by the Obama campaign and not just a few commentators on MSNBC and blogs. People need to stop giving him credit for one year. If this was Obama MSM would hound this constantly.
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Response to Liberal_in_LA (Original post)
Fri Aug 17, 2012, 04:48 PM
Ruby the Liberal (23,500 posts)
6. So Baucus' handlers gave him clearance to wade into this debate?
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Thats surprising.
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Response to Liberal_in_LA (Original post)
Fri Aug 17, 2012, 04:49 PM
goclark (30,404 posts)
7. bingo...lets wiggle out of this s...mitt
Response to Liberal_in_LA (Original post)
Fri Aug 17, 2012, 04:54 PM
jillan (31,392 posts)
8. And his campaign keeps saying no one cares about Mitt's taxes. haha. That's all
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anyone is talking about.
Let it keep on drip drip dripping. |
Response to Liberal_in_LA (Original post)
Fri Aug 17, 2012, 05:01 PM
sad sally (2,627 posts)
9. How could the Romney's have accumulated this amount in their IRA's? Not from ordinary
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accounting practices. Must be those tax laws for the filthy rich.
From the huffpost article: The offshore tax avoidance could be huge. HuffPost recently reported that the candidate has between $20.7 million and $101.6 million in his IRA -- well above the average IRA value of $67,438 in 2010. |
Response to sad sally (Reply #9)
Sat Aug 18, 2012, 11:16 AM
Sekhmets Daughter (7,015 posts)
52. It's a complicated issue
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But it appears he funded this IRA account with stocks and options with stated values many times lower than their actual value today.
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Response to sad sally (Reply #9)
Sat Aug 18, 2012, 11:19 AM
ArcticFox (854 posts)
53. It's easy
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Take 100 shares of privately traded stock, put it in your IRA, tell the gubmint it's worth, say, $30 per share. Then, sell those 100 shares for their true value of $1 000 per share and claim it's all because of your increasing the value of the business in the meantime.
Voilla, you have a$100 000 contribution. |
Response to ArcticFox (Reply #53)
Sat Aug 18, 2012, 04:51 PM
sad sally (2,627 posts)
62. Kinda' like shell game watch the pea under the cup - with Romney the shell man and the
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gubmint the rube?
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Response to Liberal_in_LA (Original post)
Fri Aug 17, 2012, 05:04 PM
MADem (85,876 posts)
10. HA HA!!!!!!!!!
Response to Liberal_in_LA (Original post)
Fri Aug 17, 2012, 05:20 PM
flamingdem (22,657 posts)
11. Yummy! The accountants ran out of creative tricks
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This one you MUST release Willard! Sing Sing or Reikers Island?
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Response to Liberal_in_LA (Original post)
Fri Aug 17, 2012, 05:21 PM
flamingdem (22,657 posts)
12. What if the repukes really aim to replace him at the convention?
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Is there a chance still?
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Response to flamingdem (Reply #12)
Fri Aug 17, 2012, 05:38 PM
silvershadow (1,522 posts)
13. Yes. I suspect now that will be their only hope. Look for Tampa to be interesting?
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This is getting good. I'm buttering up my popcorn. Will their party ever recover?
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Response to silvershadow (Reply #13)
Fri Aug 17, 2012, 05:40 PM
flamingdem (22,657 posts)
14. My concern is that they'd put someone better than Romney in..
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If he's disqualified they can pick someone, but not too many good ones out there..
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Response to flamingdem (Reply #14)
Fri Aug 17, 2012, 05:45 PM
silvershadow (1,522 posts)
16. Like say Jeb?
Response to silvershadow (Reply #16)
Fri Aug 17, 2012, 05:59 PM
flamingdem (22,657 posts)
19. Jeb is probably the best bet
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but he's a Boosh... so he'd rather wait for people to forget a bit more..
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Response to flamingdem (Reply #14)
Fri Aug 17, 2012, 05:46 PM
renate (7,923 posts)
17. I know... I'm not a concern troll, I'm honestly concerned
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(but not very) This story is getting good, but a little too good a little too early. As much as I would like to see Romney slink off with his tail between his legs, I care a lot more about winning the election.
Romney-Ryan is going so badly that I wouldn't be surprised if the powers that be--i.e. that Adelson guy--would love a chance to shake the Etch-a-Sketch and start again. I can only think of a couple of replacements who could get the Republicans fired up quickly enough for November--Chris Christie and Jeb Bush--and since they both have serious aspirations to run in the future they may well decide not to accept the candidacy even if it were handed to them on a plate in a year when the Republican party is in such disarray. I hope not, anyway. |
Response to renate (Reply #17)
Fri Aug 17, 2012, 05:58 PM
flamingdem (22,657 posts)
18. Petraeus has been mentioned
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but I can't see him wanting it..
But let's say he refuses to release that new missing form - now that's a requirement. I guess he will but imagine if there is a law broken.. Christie is just too much, wouldn't have been sufficiently vetted. Jeb is a Boosh! |
Response to flamingdem (Reply #18)
Fri Aug 17, 2012, 06:37 PM
Ineeda (2,932 posts)
23. Christie needs time
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to have (and recover from) gastric bypass surgery. I despise him, but not for that reason. However the American public probably will not elect a morbidly obese president, citing 'health concerns.' I also believe Jeb is going to wait until 2016. This year is too soon for anyone to forget the disastrous B*sh years and let's face it, our president is generally popular with non-crazies and non-bigots. So I can't think of anyone who would "excite the base" and be a viable alternative. I think they're stuck with him and will do everything they can to damage Dems on the down-tickets.
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Response to Ineeda (Reply #23)
Fri Aug 17, 2012, 06:38 PM
flamingdem (22,657 posts)
25. what if Obama runs unopposed!
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or against dingy Ryan..
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Response to flamingdem (Reply #25)
Fri Aug 17, 2012, 06:39 PM
Ineeda (2,932 posts)
26. History-making! I love it. n/t
Response to flamingdem (Reply #25)
Fri Aug 17, 2012, 06:48 PM
Politicalboi (9,439 posts)
28. If that inside trading is true
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Ryan could be out himself. My guess would be it would be between Palin and Ron Paul. Don't underestimate Ron Paul supporters.
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Response to Ineeda (Reply #23)
Fri Aug 17, 2012, 11:45 PM
tex-wyo-dem (2,100 posts)
37. I did think of someone the other day...a dark horse, possibly...
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Someone who has run in a GOP primary before and has name recognition, someone with conservative/religious-right/teabagger cred, but who has a certain something that might draw independents over...
Huckabee (Funny...I just did a spell check and the first suggestion for "huckabee" was "huckster" |
Response to Ineeda (Reply #23)
Sat Aug 18, 2012, 03:17 AM
Mopar151 (6,041 posts)
44. I dislike Christie intensely
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But I don't wanna watch him stroke out. Better he gets healthy, and the voters send him home.
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Response to Mopar151 (Reply #44)
Sat Aug 18, 2012, 01:16 PM
ellenfl (8,283 posts)
58. i don't see how christie could ever get elected.
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he's way too coarse for the international stage. he's a foul-mouthed boor. he'd have to change a lot to get non-northeastern repubs to vote for him.
jmo ellen fl |
Response to flamingdem (Reply #18)
Sat Aug 18, 2012, 10:59 AM
wryter2000 (33,494 posts)
50. Love your sig line! n/t
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Response to renate (Reply #17)
Fri Aug 17, 2012, 06:12 PM
NYC Liberal (15,599 posts)
20. A replacement at the convention would be disastrous for the GOP.
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Last edited Fri Aug 17, 2012, 06:17 PM USA/ET - Edit history (2) Worse than keeping Romney.
Besides the fact that the Republican voters would revolt at having their popularly-chosen candidate replaced with someone chosen by party big wigs in a smoke-filled backroom, and besides the fact that Romney would have to release his delegates to vote for his own replacement (it would never happen), no candidate they picked would have enough time to set up an entire national campaign with infrastructure, staff, a web presence, etc. That's something that takes several years to build up. And let's not forget money; where would that come from? The billionaires and corporations that have pumped money into supporting Romney aren't simply going to give millions more to jump start a new losing campaign 2 months before the election. Also, the new candidate wouldn't be able to just 'take over' the Romney campaign: Romney wouldn't just hand over the keys, nor would any of the other people running the campaign -- and there's nothing that says they'd have to |
Response to NYC Liberal (Reply #20)
Fri Aug 17, 2012, 08:19 PM
renate (7,923 posts)
33. that's comforting... you're right!
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It's just that Romney and Ryan look SO BAD and will look even worse by election day that I thought the powers that be would grab any chance at dumping them, especially Romney, whom nobody seems to actually like. But you're right. Logic wins! Thanks--I feel better!
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Response to renate (Reply #33)
Fri Aug 17, 2012, 08:33 PM
NYC Liberal (15,599 posts)
34. Well now of course, we WANT them to pick the most disastrous option for them
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So we ought to be encouraging them to do it!
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Response to NYC Liberal (Reply #20)
Fri Aug 17, 2012, 11:54 PM
tex-wyo-dem (2,100 posts)
38. I think you are absolutely right....
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A GOP brokered convention would be disastorous for them, and it's not going to happen, but (and this is a big but) if the rmoney/ryan ticket looks to be a serious liability to down-ticket and state races for the rethugs, then it's anybody's game, IMO.
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Response to tex-wyo-dem (Reply #38)
Sat Aug 18, 2012, 02:44 AM
NYC Liberal (15,599 posts)
43. I think they'd rather take their lumps with Romney
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this election, regroup and prepare for 2016 when there will be no incumbent than risk even more far reaching damage with a stunt like a new candidate at the convention.
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Response to NYC Liberal (Reply #20)
Sat Aug 18, 2012, 02:16 AM
stopbush (11,355 posts)
42. You're right. The GOP is counting n the MSM to rehabilitate R&R at every turn.
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Soon, the liberal nightly line-up at MSNBC will be the only people harping on R&R, which means the morning crew at MSNBC will be just as complicit as Faux in building up these jokers.
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Response to flamingdem (Reply #12)
Fri Aug 17, 2012, 08:51 PM
druidity33 (4,060 posts)
35. No one else would qualify for the ballot?
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Don't you need a bunch of signatures to get on the ballot?
Maybe a write in? But for President? I don't think so... |
Response to Liberal_in_LA (Original post)
Fri Aug 17, 2012, 05:44 PM
silvershadow (1,522 posts)
15. They couldn't have picked a better candidate
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to put under the microscope. The candidate who thumbs his nose at every chance, even to the point of committing suspected felonies, if he took amnesty as most are now suspecting. On top of that his behavior has continued past the amnesty period. He's textbook something, reminds me of something. He's not fit, whatever it is, in my book.
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Response to Liberal_in_LA (Original post)
Fri Aug 17, 2012, 06:21 PM
yourout (6,140 posts)
21. Tax E Vader.
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Response to yourout (Reply #21)
Fri Aug 17, 2012, 06:24 PM
klook (4,461 posts)
22. Haha, good one!
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I think we'll be hearing more heavy breathing in the days to come.
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Response to Liberal_in_LA (Original post)
Fri Aug 17, 2012, 06:37 PM
WinstonSmith4740 (738 posts)
24. And this is the man that keeps saying "Trust Me"
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Response to Liberal_in_LA (Original post)
Fri Aug 17, 2012, 06:44 PM
Iliyah (2,324 posts)
27. Ryan releasing his two years taxes ain't gonna stop
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the O Administration in requesting Mittens. I believe Mitten has done some questionable things and maybe paid no taxes, and I do believe Dirty Harry does know. . .
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Response to Liberal_in_LA (Original post)
Fri Aug 17, 2012, 07:10 PM
uponit7771 (16,130 posts)
29. wow
Response to Liberal_in_LA (Original post)
Fri Aug 17, 2012, 07:15 PM
Peaceful Protester (194 posts)
31. Taxy Sings
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Response to Peaceful Protester (Reply #31)
Sat Aug 18, 2012, 08:53 AM
Voice for Peace (8,391 posts)
48. Taxy!
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Response to Liberal_in_LA (Original post)
Fri Aug 17, 2012, 11:05 PM
Peaceful Protester (194 posts)
36. Doh!
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Response to Liberal_in_LA (Original post)
Sat Aug 18, 2012, 12:15 AM
Peaceful Protester (194 posts)
39. The Taxy Family
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Response to Peaceful Protester (Reply #39)
Sat Aug 18, 2012, 08:54 AM
Voice for Peace (8,391 posts)
49. I'm having taxygasms
Response to Liberal_in_LA (Original post)
Sat Aug 18, 2012, 01:32 AM
underthematrix (577 posts)
40. MITTNOCCHIO is an older better looking NIXON.
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But MITTNOCCHIO is still Nixon in every sense of the proper noun. He's a crook, a thug, LIAR, mentally ill, and extremely dangerous to anyone with less than 10 million dollars.
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Response to Liberal_in_LA (Original post)
Sat Aug 18, 2012, 01:46 AM
lumpy (12,137 posts)
41. Mitt is so transparent you can see right though him.
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Enough said
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Response to Liberal_in_LA (Original post)
Sat Aug 18, 2012, 03:30 AM
nolabels (11,118 posts)
45. Wow and double Wow, this is the funnest ride ever
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Response to Liberal_in_LA (Original post)
Sat Aug 18, 2012, 07:04 AM
Angry Dragon (24,073 posts)
46. Willard -- the great American liar and fraud
Response to Liberal_in_LA (Original post)
Sat Aug 18, 2012, 08:09 AM
BrainMann1 (317 posts)
47. Mitty, Mitty, Mitty
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I truly understand why you will not release anymore tax returns.
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Response to Liberal_in_LA (Original post)
Sat Aug 18, 2012, 11:03 AM
treestar (40,420 posts)
51. Could that be why he has so much money in the IRAs?
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As I understand it, it is suspicious that he has so much money in them when there are limits on how much can go into them. So therefore, he's not being taxed like regular Americans are, since he can stash the money in foreign countries.
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Response to Liberal_in_LA (Original post)
Sat Aug 18, 2012, 11:52 AM
BumRushDaShow (11,955 posts)
55. K&R
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Layer after layer after layer of deceit and lies and obfuscation. It's simply breath-taking how he slid under the radar for so long.
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Response to Liberal_in_LA (Original post)
Sat Aug 18, 2012, 03:08 PM
ellisonz (26,317 posts)
61. Where de tax returns Romney?
Response to Liberal_in_LA (Original post)
Sat Aug 18, 2012, 05:03 PM
Berlum (3,667 posts)
63. Wow - disgraceful Republican sleazebaggery
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Shame on you Willard.
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