Mitty's missing millions mystery

[DemsUnited]

http://www.usnews.com/news/blogs/rick-newman/2012/09/21/the-mysteries-in-mitt-romneys-tax-return

Mitt Romney apparently adopted a new tax strategy at some point this year.

The Republican presidential nominee has completed and released his official 2011 tax return, and his tax bill is lower than estimated on a preliminary return released eight months ago.

Here's how the numbers on Romney's final return compare with the numbers from his preliminary return, and from 2010:

Final 2011 return:

Adjusted gross income: $13,696,961

Total federal tax paid: $1,935,708

Effective federal tax rate: 14.1 percent

Preliminary 2011 return (released in January):

Adjusted gross income: $20,901,075

Total federal tax paid: $3,226,623

Effective rate: 15.4 percent

Final 2010 return:

Adjusted gross income: $21,646,507

Total tax paid: $3,009,766

Effective rate: 13.9 percent

So here's the mystery: Between January and October of this year, Romney's adjusted gross income for 2011 fell by $7.2 million. And it dropped by nearly $8 million compared with his AGI in 2010. His federal tax liability also fell, by similar proportions.

Rick Newman's interesting analysis (link above) goes on to speculate that money was transferred into "one of three trusts"...

[hedgehog]

1. So, someone who didn't realize his income fell by $7 million wants to

take care of the deficit?

[patrice]

4. That's been the most concerning thing to me all along. What kind of deals do those kinds of deposits

get into?

I mean, it isn't like you or I depositing our small savings, right?

Re the 1%, When you're bringing it like that, you get SPECIAL financial contracts don't you?

Isn't it quite possible that that money made in America, off of American backs, is pretty fucking fucked-up and encumbered now, by how and where it was deposited in foreign financial institutes?

Is it even possible for a Rommunist presidency to avoid conflicts of interests between us and other nations?

[Tom Rinaldo]

3. Among many good questions raised but not answered by Romney's "release". n/t