Mitt Romney paid more taxes in 2011 than he needed to

[yankeepants]

Source: Syracuse Post Standard




WASHINGTON (AP) — Mitt Romney, one of the wealthiest candidates ever to seek the presidency, paid nearly $2 million in federal taxes on $13.7 million in income that he and his wife reported last year, his U.S. returns showed Friday. That came to an effective tax rate of 14.1 percent, lower than millions of middle-income Americans but actually more than he had to pay.

Most of Romney’s income was from investment returns. That is why his rate was lower than taxpayers whose income was mostly from wages, which can be taxed at higher rates.


http://www.syracuse.com/news/index.ssf/2012/09/mitt_and_ann_romneys_paid_194.html



Read more: http://www.syracuse.com/

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The title of this post is the banner on the home page of Syracuse.com. This "news" outlet in the last two months was given a complete makeover and has since turned decidedly RW (in my opinion) burying Lybiagate and Mitt's 47% debacle in favor of headlines like this.

It makes me think that this is where the repub PAC $ is going on local levels.

[Selatius]

1. Well, freedom of the press belongs to those who own one.

Likely, the owner is a center-right kind of guy, maybe even a far right-wing Tea Partier.

The lack of a publicly owned news outlet that's equivalent to the BBC in Great Britain is, in my opinion, hurting this Republic. At least then we'll just get straight facts with no spin.

[fasttense]

2. And I paid more of my wages in federal taxes then did Romney.

I paid 21% in federal taxes last year. And I make very little.

Romney thinks that measly 14.1% is something to brag about? Hell, Social Security and Medicare taxes on my income are 13.3% alone.

What a scam he's got going.

[MrMickeysMom]

16. Not only that... that was not even earned with labor...

It was a product of changes to capital gains taxation...

That, and being a cheesy asshole with no personality and bad "latino" tan.

[Born Free]

3. He can amend his tax return after election

Flim-Flam extraordinaire, Mitt Romney can easily amend his tax return after the election to claim the additional deductions - but it does make headlines for the right wing media to run. Interesting TRMS showed Mitt Romney saying that if he paid more in taxes than he had to by law he would not be qualified to be president. If he really had something to show, it would be older tax returns that can not be fixed retroactively

[Tunkamerica]

4. obviously part of the plan from the beginning

1. hold back on all tax forms...
2. wait for opportune time...
3. release one from last year (inside the running for president timeframe)
4. ????
5. profit

[sendero]

5. Yes..

.. and since he had months to tailor THIS tax return to his need is that surprising?

Until I see past years this one means NOTHING.

[WooWooWoo]

6. he chose to pay more to bump himself up over 13%

Because he knew it would look bad if he did what he said he does "not pay a dime more than I have to" - and end up paying 12 percent, which is less than his tax plan calls for people of his income paying.

[Festivito]

10. Romney thinks he is unqualified for presidency by his own words.

Romney will surely be reminded by the Democrats that he also said in August, defending his right to pay no more taxes than he owed: “I don’t pay more than are legally due, and frankly if I had paid more than are legally due I don’t think I’d be qualified to become president.”

from the same article.

[marshall]

12. Somebody needs to get the word out that you can overpay

I wasn't aware you could actually pay more than the government calculates you owe.

[on point]

7. But what did he do for yrs he wasn't 'shaping' his tax return prior to the election??

[mwb970]

8. Now that I'm sure Obama is going to win, I enjoy Mitt's antics even more. /nt

[2pooped2pop]

9. the fact that the workers rate is higher than the investors rate

goes to show you yet again that the rich buy the laws for themselves while screwing the people who have to actually labor for their money.

another rich man's law paid for by the serfs.

[hamsterjill]

11. You said it!

You said it correctly, and you said it very well!

[patricia92243]

13. Because he knew people would be seeing it, and he wanted to look like the "good guy,"

he overpaid. It just makes him look artifical - as usual.

[and-justice-for-all]

14. To little to late I am afraid...nt

[wordpix]

15. excellent manipulation of tax rules, Tax Dodge Mitt

You still paid at a rate much lower than school teachers, fire fighters, policemen, secretaries, nurses....

[hedgehog]

17. Wow! Headlines on this in Syracuse!

I wonder if Mitt's run will be the end of special treatment of unearned income!