HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Romney released 20-yr tax...
Introducing Discussionist: A new forum by the creators of DU

Sat Sep 22, 2012, 01:30 AM

Romney released 20-yr tax summary rather than 12-yr or 10-yr to average in higher 1992-97 rates

From Citizens for Tax Justice:

http://www.ctj.org/taxjusticedigest/archive/2012/09/mitt_romneys_2011_returns_reve.php

“Further, the summary provided by his lawyer is playing games by averaging Romney’s 20-year tax rate. Including the years 1992-97 skewed his rate upwards because during those years, the capital gains rate was 28 percent instead of the 15 percent it is now. If they’d averaged only the last 15 years, his rate would have been much lower.



That's in addition to another game they played with the tax average, one noted by the Wall Street Journal in its Live Audit:

http://www.democraticunderground.com/10021394029

http://blogs.wsj.com/washwire/2012/09/21/live-audit-the-romney-tax-documents/

We checked with the Romney campaign and the 20-year tax-rate average is a simple one (i.e., the average of the percentage in each year) rather than a weighted one (i.e., where you add up all the tax paid across the 20 years and divide it by all the income).

It’s a potentially important difference because the simple average treats each year equally -- whether Romney earned, say, $5 million in that year or $30 million. It is especially important if Romney paid a low tax rate in a year in which he earned a lot but paid a high tax rate in years when he earned less. The weighted average would give a more accurate picture.




4 replies, 738 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 4 replies Author Time Post
Reply Romney released 20-yr tax summary rather than 12-yr or 10-yr to average in higher 1992-97 rates (Original post)
highplainsdem Sep 2012 OP
Tennessee Gal Sep 2012 #1
hollysmom Sep 2012 #2
highplainsdem Sep 2012 #3
spanone Sep 2012 #4

Response to highplainsdem (Original post)

Sat Sep 22, 2012, 01:36 AM

1. Yes, they gamed the American people with this averaging.

This will not quiet anyone. It will only cause more questions and pressure on Romney.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to highplainsdem (Original post)

Sat Sep 22, 2012, 01:53 AM

2. Hey Romney - we are not idiots!!!!

Numbers is my game.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to highplainsdem (Original post)

Sat Sep 22, 2012, 09:12 AM

3. Chris Hayes called this little game "too cute by half" this morning.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to highplainsdem (Original post)

Sat Sep 22, 2012, 09:34 AM

4. he cheats, that's his schtick

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread