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Romney's Tax Return--NOT beating a dead horse

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  • Democrat
    Massachusetts
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    When Romney finally showed his 2011 tax return, it was widely but softly reported that he under-claimed deductions. This caused him to show a tax rate of apprx 14%. As a tax lawyer, I can assure you that after the election he filed an amended return claiming ALL his real deductions. This would have brought his effective rate to 9%. Anyone ever follow up on this?
  • Liberal Democrat
    Democrat
    Colorado Springs, CO
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    legalbeagle Wrote: When Romney finally showed his 2011 tax return, it was widely but softly reported that he under-claimed deductions. This caused him to show a tax rate of apprx 14%. As a tax lawyer, I can assure you that after the election he filed an amended return claiming ALL his real deductions. This would have brought his effective rate to 9%. Anyone ever follow up on this?
    I wrote about this in September 2012. It's the last post in this thread:

    Romney will modify 2011 income tax on Nov. 5 to get back his millions

    I have seen nothing since then to further enlighten me. My speculation from 2012 still stands. It is more about deceiving his fellow Mormon church members about not paying the 10 percent tithe. Here is an extract from that post:

    "3. Mitt Romney, in submitting his 2011 tax return in September, is now telling the media that he is not claiming all of the charitable tax deductions that he made in 2011...and the media is sucking that story up, putting the twist on it that he wanted to keep his taxes paid as a percent of adjusted gross income in the 14 percent range. Maybe. However, what if the $2.251 million in charitable deductions ($1.115 million to the church) for 2011 are the real numbers...he is not holding anything back.

    "The reason he would suggest that he paid more in charitable contributions than he is claiming on his 2011 return is evident. The true numbers show that he paid 7.0 percent of his adjusted gross income to the church in 2010 and 8.1 percent in 2011. That should raise some eyebrows by members of the Mormon church that faithfully pay the 10 percent tithe...on gross income. So he has to have a credible story to go with it...and the bogus estimated taxes for 2011 provide the ground cover for that story.

    "This is, of course, conjecture on my part. I cannot prove it. I only make that conjecture based on my other observation that Mitt Romney is not an honest man. However, this really should only be an issue between Mitt Romney and his church...and the lay members of his church. It is none of my business as a non-church member what he pays his church. All I try to do is rationalize why he has been so reluctant to release his tax returns for prior years when much of the damage about Swiss and Cayman Island bank accounts has already been revealed."
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    Out of all the Republican candidates, I find the least objections with Mitt Romney. But the way the tax system & financial manipulations are in this country, I doubt that what Romney did was too exceptional. Yet I am very grateful for your reporting on it, as it does confirm my own ideas that any rich man would find loopholes, one way or another, & the church would collude with him, if necessary. But the Mormons are different than most other churches. They ask a lot of their members, but they also give back a lot, in a reciprocal manner. It isn't just about money.
  • Liberal Democrat
    Democrat
    Colorado Springs, CO
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    EF -- I didn't want to make this about the Mormon church. It is a fact that they ask all their members to pay a tithe (10 percent) of their gross income to the church, and yes much of that money goes to support their members in many ways. I'm sure Mitt Romney values his role in the church even more than he values being governor. In other words, it would be a major embarrassment to him if it was revealed that he was short changing the church their tithe.

    I do not trust Mitt Romney because of the countless flip flops he has made on political issues over his career. That's why I call him "Weather Vane Romney". But even more his political attack ads against Obama were down right dishonest. In one ad they took a clip of Obama quoting what McCain had said on an issue, and made it look like it was Obama who originated the words. When he was called out on it, he still continued to run the ad.

    I spent a lot of time studying Romney and what drives him. That meant I also spent time reading Mormon scriptures. I could never figure him out, but I do know he is someone I could never trust. I know several Mormons from work and socially. Although I don't agree with their religious beliefs I found them to be good friends and neighbors...and honest with me. Romney just doesn't fit in with them.

    However, if I were to compare him to Ted Cruz, Rand Paul, Sarah Palin, or Chris Christie, then yes I would have to rank him above that sorry lot.