General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsFunny, isn't it, how with Tim Geithner, it was all
'tax cheat' 24/7 -
But with Willard, silence ensues about his transparently obvious tax shenanigans.
Why is the 'liberal media' dropping the ball? Huh?
HopeHoops
(47,675 posts)closeupready
(29,503 posts)A fact that clearly underlies why so many American distrust the mainstream media, and those trust percentages continue falling, right in line with Congress.
HopeHoops
(47,675 posts)awwyeah
(17 posts)or did he just take advantage of all the stupid loop holes in our system?
Response to awwyeah (Reply #4)
sadbear This message was self-deleted by its author.
awwyeah
(17 posts)am I wrong?
sadbear
(4,340 posts)Of course, Mitt Romney does have an opinion on this:
http://www.huffingtonpost.com/2012/07/25/mitt-romney-taxes-tim-geithner_n_1703133.html
awwyeah
(17 posts)ProSense
(116,464 posts)Mitt's turn!
closeupready
(29,503 posts)And at the very least, Geithner acknowledged his mistake.
We're still waiting for Willard to do the same thing.
awwyeah
(17 posts)just that he used legal loop holes.
hatrack
(59,597 posts)EDIT
In a blog post Thursday, Victor Fleischer, a law professor at the University of Colorado, said that there was some disagreement among lawyers, but that he believed: If challenged in court, Bain would lose. The Bain partners, in my opinion, misreported their income if they reported these converted fees as capital gain instead of ordinary income.
A typical private equity or hedge fund pays its managers in part with a management fee based on the size of the fund, and in part with a share of the profits earned by the fund. Those profits are considered carried interest and taxed at capital gains rates, which in recent years have been 15 percent, assuming that the underlying investment profits qualified for that treatment.
The tax strategy Bain appears to have used is intended to convert the remaining management fee the part not based on investment profits into capital gains. Mr. Romney appears to benefit from the carried interest structure in these funds, but it is not clear from the documents made public whether he also benefits from the fee waiver. The Romney campaign declined to comment.
In an article that appeared in the journal Tax Notes in 2009, Gregg D. Polsky, a tax law professor at the University of North Carolina School of Law, called the tax strategy extremely aggressive and said it was subject to serious challenge by the I.R.S.
EDIT
http://www.nytimes.com/2012/08/24/us/politics/documents-show-details-on-romney-family-trusts.html?_r=1&pagewanted=all
Arkana
(24,347 posts)Mitt Romney professes to love this country while stashing millions in offshore tax havens. He proclaims that he cares about the middle class, but his time at Bain Capital saw millions lose their livelihoods and pensions when Romney tore their companies apart without a second thought.
awwyeah
(17 posts)right?
hlthe2b
(102,489 posts)awwyeah
(17 posts)hlthe2b
(102,489 posts)we can't know.
Enjoy your stay, lover of Flip-Flopper Felon.
awwyeah
(17 posts)hahahahahahahahahahhahahahahahahahahahahahahahhahahahahahahahahahhahahahahahahahahahahahahahhahahahahahahahahahhahahahahahahahahahahahahahhahahahahahahahahahhahahahahahahahahahahahahahhahahahahahahahahahhahahahahahahahahahahahahahhahahahahahahahahahhahahahahahahahahahahahahahhahahahahahahahahahhahahahahahahahahahahahahahhahahahahahahahahahhahahahahahahahahahahahahahhahahahahahahahahahhahahahahahahahahahahahahahhahahahahahahahahahhahahahahahahahahahahahahahhahahahahahahahahahhahahahahahahahahahahahahahhahahahahahahahahahhahahahahahahahahahahahahahhahahahahahahahahahhahahahahahahahahahahahahahhahahahahahahahahahhahahahahahahahahahahahahahhahahahahahahahahahhahahahahahahahahahahahahahhahahahahahahahahahhahahahahahahahahahahahahahhahahahahahahahahahhahahahahahahahahahahahahahhahahahahahahahahahhahahahahahahahahahahahahahhahahahahahahahahahhahahahahahahahahahahahahahhahahahahahahahahahhahahahahahahahahahahahahahhahahahahahahahahahhahahahahahahahahahahahahahhahahahahahahahahahhahahahahahahahahahahahahahhahahahahahahahahahhahahahahahahahahahahahahah
how is he a felon? please explain.
bongbong
(5,436 posts)Ask his dad!
"Any politician who will not show multiple year taxes may be hiding something." - George Romney
awwyeah
(17 posts)You're too much! R-money has been hiding his crimes about residency claims and his lies to the SEC with his hidden tax returns.
You're a total idiot to vote for a lying repig, and sorry, the False Equivalence doesn't work here, peanut.
amandabeech
(9,893 posts)Enrique
(27,461 posts)being much more persistent than I expected