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dkf

(37,305 posts)
2. It's funny to realize this but the guy is at retirement age (65)
Fri Sep 21, 2012, 10:32 PM
Sep 2012

So you wouldn't expect someone of his age to pay social security taxes or Medicare taxes.

I'm guessing that is the reason you paid near 20%. Otherwise you are making over $70,000 a year and I wouldn't consider that all that bad.

ProSense

(116,464 posts)
8. So are the seniors he called moochers. Reality
Sat Sep 22, 2012, 12:08 AM
Sep 2012

Mitt is a despicable liar and a tax cheat (until proven otherwise).

Harry Reid Condemns Mitt Romney’s ‘Creative Accounting’
http://www.democraticunderground.com/10021392742

 

BlueStreak

(8,377 posts)
3. His actual rate is way below 14%
Fri Sep 21, 2012, 10:34 PM
Sep 2012

14% is just on the income he reported. The whole point of the offshore accounts is to shelter money from taxation. That's the only reason to do that. So there's a lot more money on which he paid 0%

 

BlueStreak

(8,377 posts)
7. Indeed. Taxes are complex so most people are afraid of them. But this is a simple point.
Sat Sep 22, 2012, 12:01 AM
Sep 2012

This is the first time in my life (over 5 decades) that I can remember the shroud being lifted up exposing how the 1% operates. They truly have a whole different set of rules for themselves versus what they hold the 99% to. I don't expect everybody to become a tax expert. But we need to be able to make these simple points to our friends and neighbors.

We didn't accomplish everything last year with OWS.

We won't accomplish everything this year with the Obama reelection.

But we cannot turn back. We must educate America. We must stop these plutocrats before they put us all permanently into poverty.

neverforget

(9,433 posts)
6. He's so patriotic! He loves America so much that he needs to store it offshore
Fri Sep 21, 2012, 11:18 PM
Sep 2012

But it's not to avoid taxes though! It's so his money can be on vacation and enjoy the sun and sand in the Bahamas and the Cayman Islands.

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