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When Romney applied to be McCain’s running mate, he gave him 23 years of tax returns

This attack ad from the Democratic National Committee focuses mainly on Mitt Romney’s Swiss bank account and other off-shore holdings. But the best part, as I see it, is the stuff at the end about Mitt’s disclosures to John McCain when he wanted to be his running mate four years ago.

[youtube]http://www.youtube.com/watch?v=Prt50o-6yi4[/youtube]

 

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5 Comments

  1. If you compare President Obama’s return with Willard’s you will notice a stark contrast in charitable donations. Although there is a big difference in income Obama’s charity is very diverse and thoughtful while Willard tosses all of his to the Polygamist Foundation.

  2. Comparisons of Romney’s charitable contributions to those made by Obama are completely irrelevant to the issue of their respective tax rates. The real issue in all of this is that multimillionaire Romney pays a far smaller portion of his income in taxes than does the middle-class working person. I don’t give a damn how much money Mitt gives to the Mormon church. But I’m offended by the fact that the person who prepares his tax returns for him probably pays a much higher rate than he does.

  3. He’s also yodeling all the way to the Swiss bank. All legal but not very loyal.

  4. > I don’t give a d— how much money Mitt gives to the Mormon church. But I’m offended by the fact that the person who prepares his tax returns for him probably pays a much higher rate than he does.

    Note to readers: Pat continues to cling to this myth despite our generous attempts to educate him. What follows is for your benefit, not his, as he appears to be impervious to the truth here.

    A true simpleton makes the argument that Romney pays a lower rate than his tax preparer, but this argument only works if you equate wages with investment income. On this false equation, Romney might pay a lower rate.

    But wages and investment income are taxed at different rates for important reasons. Dividend income has already been taxed once. Capital gains (investment) income is treated differently so risk-taking isn’t punished. Even worse, Romney purchased those investments with money that had already been taxed.

    If you compare Romney’s wages (income earned by labor) with the tax preparer’s wages, there is no way Romney can pay a lower rate. If you compare Romney’s investment income with the tax preparer’s investment income, there is no way Romney can pay a lower rate. You can mix apples and oranges and delude yourself into thinking differently, but that won’t change the facts.

    There are layers and layers of taxes that kick in at different times. If you look at the big picture, as the Wall Street Journal recently did, you will discover that Romney’s apparent tax rate is a lot lower than the effective tax rate when you consider all the tax layers.

    P.S. The Mormon Church renounced polygamy (polygyny, to be more accurate) in the 1890 Manifesto. Calling it the “Polygamist Foundation” in 2012 is just more willful ignorance, unless you were trying (and failed) to be funny.

  5. OK Dan I’ll make it the Misogynist Foundation just for you.

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