10% donated to charity counts "against" your tax rate? - New England Patriots Forums

Holy Diver · 08-17-2012, 03:24 PM

Speaking of the 13% annual tax MItt Romney is claiming to pay every year:

"And if you add in addition the amount the goes to charity [at the Mormon church], well, the number gets well above 20 percent."

The last time I donated a few million to charity, it counted as a writeoff, and was a way to lower your taxes. MY question is...

Who does Romney's taxes?
and why doesn't he fire that person?

***patsfan13*** · 08-17-2012, 03:27 PM

Money donated to Charities is not taxed.

So if you make 10M, give 5M to Charity, you are taxed on the remaining 5M.

Holy Diver · 08-17-2012, 03:35 PM

Quote:

Originally Posted by patsfan13

Money donated to Charities is not taxed.

So if you make 10M, give 5M to Charity, you are taxed on the remaining 5M.

No $#!t.....

I know you and I both understand that, so does every accountant on Earth, and Turbo Tax himself.

Thats not my question.

How does Mitt claim to pay 13% in taxes, and by adding the 10% he donates to his church, he is somehow paying "well over 20%" in taxes?

PatriotsReign · 08-17-2012, 03:51 PM

Quote:

Originally Posted by Holy Diver

No $#!t.....

I know you and I both understand that, so does every accountant on Earth, and Turbo Tax himself.

Thats not my question.

How does Mitt claim to pay 13% in taxes, and by adding the 10% he donates to his church, he is somehow paying "well over 20%" in taxes?

Maybe because a lot of our tax dollars go to social charities....I mean programs. But to me, they're the same thing.

If one depends upon the gov't to get by, they do so by the charity of taxpayers...wouldn't you agree?

Holy Diver · 08-17-2012, 03:57 PM

Quote:

Originally Posted by PatriotsReign

Maybe because a lot of our tax dollars go to social charities....I mean programs. But to me, they're the same thing.

If one depends upon the gov't to get by, they do so by the charity of taxpayers...wouldn't you agree?

I get the dig on social programs...but lets be honest here...

Thats not what Romney was saying.

Do we think he is stupid, or doesn't know how basic taxes work, or thinks we are so stupid that we think that paying 13% in taxes, plus a 10% donation to a church = a 23% rate of taxes?

Don't tell me you are one of the people who Mitt is counting on being stupid?

You are better than this, PR.

Holy Diver · 08-17-2012, 04:05 PM

Here is his entire quote for clarity:

Mitt Romney Says He Never Paid Less Than 13 Percent In Taxes - ABC News

Quote:

“So I’ve paid taxes every single year. Harry Reid’s charge is totally false. I’m sure waiting for Harry to put up who it was that told him what he says they told him. I don’t believe it for a minute by the way. But every year I’ve paid at least 13 percent and if you add in addition the amount that goes to charity, well the number gets well above 20 percent.”

WTF?

who is buying this?

PatsFanInVa · 08-17-2012, 04:11 PM

it's all fiction anyway. His rate's lower for 2009 and everybody here knows it...

Or else what's he so afraid of in the 2009 taxes, that he had to draw so line so boldly and brightly at 2010?

So pick a number, any number... let's say 13! Mind you it's still a ridiculously low rate, but I doubt very seriously it's the truth.

PFnV

Hamar · 08-17-2012, 04:25 PM

Quote:

Originally Posted by PatsFanInVa

it's all fiction anyway. His rate's lower for 2009 and everybody here knows it...

Or else what's he so afraid of in the 2009 taxes, that he had to draw so line so boldly and brightly at 2010?

So pick a number, any number... let's say 13! Mind you it's still a ridiculously low rate, but I doubt very seriously it's the truth.

PFnV

He paid 40% or damn close in 2009, guarantee it.

How are you going to call me on it?

***patsfan13*** · 08-17-2012, 05:28 PM

well who says he didn't contribute >10% to charities?

My guess was that his income was largely capital gains which are taxed at a lower rate.

Much ado about nothing, but that is all Obummer has to run on.

Holy Diver · 08-17-2012, 07:05 PM

Quote:

Originally Posted by patsfan13

well who says he didn't contribute >10% to charities?

My guess was that his income was largely capital gains which are taxed at a lower rate.

Much ado about nothing, but that is all Obummer has to run on.

He gave 10% of $23 million to the Mormon church. That's $2.3 million minus his $23 million left to tax, and he is claiming that 10% is somehow ADDED to the 13.8% he paid in 2010.

If you bought this lie, I feel really bad for you. If you still believe Mitt payed closer to 20% after I explained this to you, no facts will get in the way of your man-crush.