Saturday, September 22, 2012

and more on Romney's tax evasiveness

Democrats: Political slant marks Romney tax return 
WASHINGTON (AP) — Democrats say Mitt Romney manipulated his deductions to keep his overall 2011 federal income tax rate below a certain level for political purposes. The Republican presidential nominee is certain to face new questions about his finances.
---
Democrats quickly leaped on the documents, saying Romney had claimed fewer deductions than he was entitled to just to keep his rate at such a level. Romney told reporters in August he had never paid below 13 percent in taxes in any given year over the past 20. Had he taken the full charitable deduction, it would have pushed his tax liability below 13 percent.
"The information released today reveals that Mitt Romney manipulated one of the only two years of tax returns he's seen fit to show the American people - and then only to 'conform' with his public statements. That raises the question: What else in those returns has Romney manipulated?" said Senate Majority Leader Harry Reid, D-Nev.
Stephanie Cutter, deputy campaign manager for President Barack Obama, said the release of Romney's 2011 tax returns "confirms what we already knew - that people like Mitt Romney pay a lower tax rate than many middle-class families because of a set of complex loopholes and tax shelters only available to those at the top. Yet, Mitt Romney still wants to give multimillionaires an additional $250,000 tax cut at the expense of middle-class taxpayers who will see their taxes go up."
---
So, yes, he pays taxes, but he manipulates the system, pays less than the middle class and wants to give himself a bigger tax break. So, pretty much what we already knew.