General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRomney's Taxes?
Some answers at Leasthttp://www.rawstory.com/rs/2012/10/29/bloomberg-news-romney-rented-mormon-churchs-exemption-to-defer-taxes-for-15-years/
kansasobama
(609 posts)Any thoughts
aint_no_life_nowhere
(21,925 posts)"Tax returns obtained by Bloomberg News through a Freedom of Information Act request indicated that Romney set up a charitable remainder unitrust (CRUT) in June 1996 just before Congress cracked down on the loophole in 1997.
In this instance, Romney used the tax-exempt status of a charity the Mormon Church, according to a 2007 filing to defer taxes for more than 15 years, Bloombergs Jesse Drucker explained. At the same time he is benefitting, the trust will probably leave the church with less than what current law requires. ..."
Anyone in the know understand what tax returns they are referring to? I didn't think the FOIA could obtain privileged returns.
beac
(9,992 posts)Not ONLY does that rich, selfish POS reap HUGE tax savings, but the charity can end up with zero, yes ZERO, in the end. Meanwhile, Mittens-the-Moocher MAKES money on the deal!:
*snip*
... whats going to go to charity is probably close to nothing, Hesch said.
Angry Dragon
(36,693 posts)that is the essence of the man
Greed is his god
Wellstone ruled
(34,661 posts)Udah sheeple are pissed that the Willard used their cult to benefit himself. For crying out loud,all the wealthy Mormons use this huge loophole among other special accounts to hide and move funds around.
kansasobama
(609 posts)I hardly see this on any MSM channels as breaking news? We may have to go viral....