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#231584 - 08/01/12 12:12 PM Reid: Mitt Romney didnít pay taxes for 10 yeara
Schlack Offline
veteran

Registered: 07/22/04
Posts: 9715
Loc: Ireland
Harry Reid: Mitt Romney didnít pay taxes for 10 years



Quote:
Senate Majority Leader Harry Reid (D-Nev.) claimed Tuesday in an interview that Republican presidential candidate Mitt Romney refuses to release additional tax returns because he didnít pay taxes for 10 years.

The interview, published Tuesday by The Huffington Post, includes several swipes by the Senate leader at the GOP candidate.

ďHis poor father must be so embarrassed about his son,Ē Reid said in reference to George Romneyís decision to turn over 12 years of tax returns when he ran for president in 1968.

Reid suggested that Romneyís decision to withhold tax information would bar him from ever earning Senate confirmation to a Cabinet post. Then, Reid recalled a phone call his office received about a month ago from ďa person who had invested with Bain Capital,Ē according to The Huffington Post.

Reid said the person told him: ďHarry, he didnít pay any taxes for 10 years.Ē



likely this isnt true, and Reid is playing in the rather large grey zone left by the unreleased tax records.... but ouch.


Quote:
Taxes are for little people


that kind of sh!t will stick
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"The basic tool for the manipulation of reality is the manipulation of words. If you can control the meaning of words, you can control the people who must use the words."
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#231587 - 08/01/12 12:38 PM Re: Reid: Mitt Romney didnít pay taxes for 10 yeara [Re: Schlack]
logtroll Offline
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Registered: 04/26/10
Posts: 8579
Loc: New Mexico (not old Mexico)
Whatever Candidate Romney is hiding must be blockbuster. Refusing to disclose puts him in the position where anybody can speculate anything and it's as good as the truth. The actual truth must be waaay nasty!

Or all the speculation IS true, and tax return release would simply be confirmation...
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#231595 - 08/01/12 06:10 PM Re: Reid: Mitt Romney didnít pay taxes for 10 yeara [Re: Schlack]
Lillibet Offline
moderator
enthusiast

Registered: 12/19/05
Posts: 2262
Loc: Chicago, Illinois
I would think that Harry Reid would be sensitive to spouting off some speculative conclusions regarding Romney's paying taxes. If true, his present returns showing approximately 15% tax payments, due to his income falling into the lower rate stream allowed for investment income. I think that's what he paid for the one year of returns he released to the public. Add to that, any years of no tax payments while accumulating more than $250 Million net worth, and the greater public could be begging Romney get a French neck lift.

Why hasn't it sunk in for the public that these guys paying so little means the rest pay more? That it's not just Romney, but the rest of the 1% of high earners that cost the Treasury huge amounts, either through loopholes, private tax bills, lower rates on certain types of income that are not available to the public at large due to high entry costs, and other corporate shenanigans that make corporations able to pay ZERO (General Electric, anyone), in taxes.

Those are fighting words when the elite pay nothing, nada, zero, just as the rest are scraping to pay their taxes, fees, and the rest of the sales and real estate taxes from local to federal.

Still, I wonder if it could be true. How did Harry Reid say something like this, which as a survivor in politics, would be foolish to say, if not true. These sorts of disclosures could be a suicide statement if false. Any word of substantiation? Any confirmation from anyone else? Where is the unnamed source for Harry Reid?

Inquiring minds, and all that jazz. violin
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#231611 - 08/01/12 08:28 PM Re: Reid: Mitt Romney didnít pay taxes for 10 yeara [Re: Schlack]
keysersoze Offline
journeyman

Registered: 12/01/11
Posts: 884
If Harry Reid is correct and Romney did indeed not pay taxes for 10 years, then that begs the question: Why didn't Obama appoint him to some Administration position? After all, Obama has a history of appointing Cabinet members and Administration people that haven't paid taxes. It seems Obama missed a golden opportunity to hire his competitor and eliminate the competition. Was Harry Reid equally outraged by the numerous Obama appointees that hadn't paid their taxes?
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#231614 - 08/01/12 08:50 PM Re: Reid: Mitt Romney didnít pay taxes for 10 yeara [Re: keysersoze]
rporter314 Online   content
old hand

Registered: 03/18/03
Posts: 6183
Loc: Highlands, Tx
Quote:
people that haven't paid taxes

i think you confuse people who don't pay a penny in taxes with people who paid taxes but dispute the amount of the tax.
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#231622 - 08/01/12 09:28 PM Re: Reid: Mitt Romney didnít pay taxes for 10 yeara [Re: keysersoze]
Lillibet Offline
moderator
enthusiast

Registered: 12/19/05
Posts: 2262
Loc: Chicago, Illinois
I think also that Obama would never have appointed Romney because even in 2008 it was known he was running for president, and he'd be more problem than benefit due to his unending changes of position depending on the direction of the wind. Just because he found a way not to pay taxes doesn't mean a thing either. Lots of people find every last loophole, and take advantage of them, so that they legally owe no taxes.
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#231629 - 08/01/12 10:44 PM Re: Reid: Mitt Romney didnít pay taxes for 10 year [Re: rporter314]
keysersoze Offline
journeyman

Registered: 12/01/11
Posts: 884
Originally Posted By: rporter314
Quote:
people that haven't paid taxes

i think you confuse people who don't pay a penny in taxes with people who paid taxes but dispute the amount of the tax.


Some just loophole it to death and others like Tim "Turbo Tax" Geithner and Tom Daschle just get "confused." Gotta see where Romney falls on the list. I'm leaning some serious loopholes and if that is a case write your Congressperson on changing the tax code - like they'll do it.
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#231632 - 08/01/12 11:14 PM Re: Reid: Mitt Romney didnít pay taxes for 10 year [Re: keysersoze]
rporter314 Online   content
old hand

Registered: 03/18/03
Posts: 6183
Loc: Highlands, Tx
when i took the mba course in personal and corporate taxes the idea was to expand the envelop to protect your holdings instead of simply sending the envelop with a check ... of course it helps if you have something to protect

they changed it back about 1984 ... almost all of the tax code is devoted to corporate accounting ... so are you proposing changing corporate code? i don;t think conservatives are talking about that ... seems like they want to tax the low income folks until they bleed (metaphorically speaking of course)
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ignorance is the enemy
without equality there is no liberty

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#231638 - 08/01/12 11:50 PM Re: Reid: Mitt Romney didnít pay taxes for 10 year [Re: Schlack]
NW Ponderer Offline
Moderator
Carpal Tunnel

Registered: 09/09/11
Posts: 15413
I think, Keyser, notwithstanding the "cheekiness" of the claim, if you are going to assert that Obama appointees paid no taxes, you will need to provide some substantiation of that claim. I have never seen anyome make that claim before, and could find nothing in a quick search that would come anywhere close to supporting it.
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#231642 - 08/01/12 11:55 PM Re: Reid: Mitt Romney didnít pay taxes for 10 year [Re: Schlack]
keysersoze Offline
journeyman

Registered: 12/01/11
Posts: 884
I am not a tax "expert" nor do I play one on the internet. However on many a thread I read about these loophole things. Why some even mention corporations that pay no taxes! I mean BIG corporations like GE. I read about a certain known capitalist who claims he actually paid taxes at a lower rate than his secretary! Amazing! Now I read somewhere that Romney pays at about a 15% rate. I also read that Gingrich paid the highest rate of anyone that was in this race - about 30%. Now Romney may have paid squat - although I leave that open knowing the source.

So why is this? Why and how can such a disparity exist? No taxes. 5%. 30%. Are they using IRS coupons? Looks to me like some folks have it figured out (I have). So it seems to me what they do is legal! Our representatives have somehow created holes you can drive a truck through! Now to me it means nothing since they are just taking advantage of a law that they probably paid for over the years with who knows what for "donations."

So on the whole with personal taxes I'd love to see a flat tax with maybe the poverty level as a exemption? Maybe even keep the rates in place now but with no deductions. 35% top rate. Corporate would be an adventure to normalize. Good luck with that.
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