Mitt Romney Releases 2011 Tax Returns, When Will Reid Apologize for Saying He Did Not Pay Taxes for 10 Years

 

So much for Harry Reid’s allegations that Romney had not paid taxes …

GOP Presidential candidate Mitt Romney has released his 2011 tax returns. Contrary to Democrat Senate Majority Leader Harry Reid’s slanderous comments, it turns out that Romney did pay taxes. As it turns out, Romney paid $1.94 million in taxes, an effective tax rate of 14.1%. The rate was such because most all of his income was from investments and there fore subject to capital gans taxes, not income tax. Thus, one can say that this money had been taxed twice.  Also, the Romney’s gave over $4 million to charity, 30% of his income. Can Barack Obama or Joe Biden say the same? No, they would rather take your money to spend.

Dingy Harry owes Mitt Romney and America a big aplogy

In short, and as Kevin noted, Romney forked over nearly $2 million to Uncle Sam last year and donated more than $4 million to charity.  He overpaid his taxes by limiting the charitable deductions he chose to claim, which could have driven his obligations to government even lower.  Liberals are now actually complaining that Romney intentionally paid *too much* in taxes to boost his own effective rate, due to his prodigious philanthropic giving.  This line of criticism is downright hilarious. It’s okay to point and laugh.  And what about the last 20 years?

Mitt Romney and his wife, Ann, paid $1.94 million in federal taxes on last year’s income of $13.7 million, for an effective tax rate of 14.1 percent, his campaign said Friday.

That’s slightly above the 13.9 percent rate the couple paid in 2010. Most of the 2011 income was from investments.

Mitt Romney’s campaign did put out a summary Friday by Brad Malt, the trustee of the couple’s blind trust, saying that over the 20-year 1990-2009 period, the Romneys owed both state and federal income taxes and paid federal taxes at an effective annual rate of 20.2 percent

The MSM was salivating and repeating the Obama campaign line making Romney’s taxes a more important distraction than say the +8%  US unemployment rate, the +16 trillion national debt, the 23 million under and unemployed works, the record number of Americans on food stamps and the record high number of Americans who have given up and left the work force. As Town Hall reports, Democrats, Media Get Punk’d: Romney Releases Tax Returns.

In short, and as Kevin noted, Romney forked over nearly $2 million to Uncle Sam last year and donated more than $4 million to charity.  He overpaid his taxes by limiting the charitable deductions he chose to claim, which could have driven his obligations to government even lower.  Liberals are now actually complaining that Romney intentionally paid *too much* in taxes to boost his own effective rate, due to his prodigious philanthropic giving.  This line of criticism is downright hilarious. It’s okay to point and laugh.  And what about the last 20 years?

Of course Barack Obama and his band of lying men will spin this as Romney only paid 14% on his taxes, much less that John Q. Public. However, this is investment money and would have already been taxed once as income gained. Also, how many folks are donating $4 million to charity and 30% of their yearly income? Barack Obama and Joe Biden, not so much. Biden gave a whopping $369.

And what about President Barack Obama and Vice President Joe Biden in the run-up to their 2008 campaign?

USA Today broke it down here. In 2007, the Obamas gave more than $240,000 to charity, about 5.7 per cent of their income. The Bidens gave an average of $369 to charity a year for the decade before he moved to the Naval Observatory – about 0.3 percent of their income. Back in 1997, then Vice-President Al Gore and his then wife Tipper gave $353.

Since becoming Vice-President, Biden hasn’t become much more generous. In 2010, he gave $5,350, about 1.4 per cent of income. That same year, Romney gave some $3 million. The national average is about three per cent.



If you liked this post, you may also like these:

  • This is Low Even for Harry Reid and Democrats … Bain Investor Told Me Romney “Did not Pay Taxes for 10 Years” … Have You No Shame!
  • Nancy Pelosi Doubles Down … ‘It Is A Fact’ That Somebody Told Harry Reid About Romney Not Paying Taxes
  • Republican Chairman Reince Priebus Calls Harry Reid a “Dirty Liar” in Response to Dingy Harry’s Tax Accusations (Video)
  • Mitt Romney Says … It’s Time for Harry Reid to “Put Up or Shut Up”
  • If Elected Mitt Romney Would Be One of the Most Richest Presidents Ever




  • Comments

    5 Responses to “Mitt Romney Releases 2011 Tax Returns, When Will Reid Apologize for Saying He Did Not Pay Taxes for 10 Years”

    1. A Texas Grandfather on September 22nd, 2012 7:07 pm

      The great majority of Democrats are takers, not givers. Biden is a primary example. Harry Reid is a Nevada thug who will do and say anything to make his point.

    2. DGarr on September 22nd, 2012 8:23 pm

      Release the tax returns that we *really* want to see, 2005-2009, Mr. Romney.

      If you are looking for a way to reboot your campaign, this would be it.

      Show everyone that, indeed, there is nothing to hide.

      Now THAT would really change the momentum of the campaign to your advantage.

      This is the single issue for which you have never once flip-flopped. Why? It makes voters wonder.

      Mr. Romney, you are running for President of the United States.
      This is a position of Trust.
      Ronald Reagan said, “Trust but Verify.”
      Mr. Romney has said, “Trust me,” re his tax returns.
      It is not unreasonable for voters to want to “Verify.

      The longer you delay, Mr. Romney, the more suspicious it appears.

      Obama released 8 years of tax returns
      GW Bush 10 years
      Clinton 12 years
      GHW Bush 14 years
      George Romney 12 years.

      What is the problem, Mr. Romney? Release your tax returns.
      _________________________________
      SM: Sorry, I think there is more to worry about than someone’s tax returns. But a nice try at a distraction by those you you on the LEFT. We have the Middle East on fire, an Obama admin that knowing tried to lie to the American people that the Libyan attacks and murders were not terrorism and blamed on a tape, an terrible economy, no job growth, a wasteful spending president in Obama, an unpopular Obamacare law (TAX) passed against the will of the people, +8% unemployment for 43+ months, $16 trillion debt, Obama giving stimulus $’s to his cronies for green energy, an asleep at the wheel foreign policy that failed to protect Consulates and Embassies on 9-11 and you are concerned about tax returns.

      SPARE ME.

      Sorry, but we know Romney is a rich dude, so sorry if you can’t handle that.

      Asking for the tax return is pretty much similar to asking Obama for his birth certificate.

    3. rightknight on September 22nd, 2012 10:01 pm

      The collection of pansies, dweebs, pointy headed academics,
      self-serving hacks, and would-be royalty is typical of historical
      groups attempting to essentially enslave populations and
      control their every function as a rancher would manage his
      herds. Freedom and Liberty for the cattle is unthinkable. It
      is fortunate we get to see who they really are. It is imperative
      to vote them out of our lives.

    4. dennisintn on September 23rd, 2012 8:28 am

      liberals never admit to themselves that they are wrong about anything, so they never have anything they feel they have to apologize for.
      dennisintn

    5. NGBoston on September 24th, 2012 2:57 pm

      Reid will never apologize, he is spineless.

      It is time for America to put Romney’s income and earnings issue to rest.

      The average effective tax rate for Americans from is around 10 percent So, unless tax payers have zero deductions of any kind—Mitt has actually paid a higher rate. (on average)

      Well, thanks to economist James Pethokoukis (who you should absolutely follow on Twitter @JimPethokoukis) we have the data.

      Romney still paid higher average effective income tax rate than 80% of Americans, higher total rate than 60%

      Romney pays a higher effective income tax rate — 14.1% vs. 9.1% — than the average American. What’s more, he pays a higher effective income tax rate than the top four quintiles. (The fourth quintile pays an average rate of 5.5%, lower ones pay less.) That’s 80% of taxpayers.

      Second, even if you include ALL taxes as the Tax Policy Center does — including payroll taxes — Romney still pays a higher effective tax rate than three out of five quintiles. That’s 60% of tax payers.

      When the income tax rate on top earners like Mitt Romney is officially 36 percent, but he ends up paying an effective tax rate of 14.1 percent, it’s confusing. When someone earning $40,000 a year ends up paying zero, while his neighbor with the same income pays 8 percent—it throws people off.

      This is one of the many reasons why most people who have a clue support some form of Mitt’s tax reform: lower rates, fewer deductions. When Obama complains that Mitt wants to cut taxes 20 percent for “millionaires and billionaires,” he’s being completely disingenuous. Mitt wants to cut tax rates for EVERYONE. (Well, everyone who pays federal income taxes).

      But since the average rate actually paid—9.1 percent—is so low thanks to the complicated tax code full of loopholes and deductions, what difference does the “rate” make? Take away deductions and Mitt Romney would end up paying a HIGHER rate, even if you cut the rate 20 percent.

      You really want to “stick it to the rich?” The vote for Mitt and let him push to make everyone pay the actual tax rate on most of their income.

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