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Romney Avoids Taxes via Loophole Cutting Mormon Donations

Discussion in 'Political Discussion' started by Holy Diver, Oct 30, 2012.

  1. Holy Diver

    Holy Diver Rookie

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    in the midst of the storm, Bloomberg is reporting this:

    Romney Avoids Taxes via Loophole Cutting Mormon Donations - Bloomberg

    This sounds pretty complicated, But looks as if Romney is using the tax exempt status of his own church to generate a stream on income to his trust.

    Its legal for those who were grandfathered in, but I don't think I'm alone in saying this is SUPER shady.
  2. wistahpatsfan

    wistahpatsfan Rookie

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    Well, I think the problem is with YOU.

    Ya see, there are some financial devices and tax advantages that are perfectly legal and available to use for every American...provided, of course, you have the army of accountants, financial planners and lawyers at your disposal. It would also be beneficial if you had an unknown millions of dollars to take advantage of these devices.

    Maybe your problem is that you're just jealous because YOU don't have a billion dollars that allows you to use these "financial tools" like Willard. Don't blame him because you're idea of a tax deduction is your mortgage interest or some mini-human running around the living room drawing on your flatscreen with a sharpie. That's not his fault.
  3. Holy Diver

    Holy Diver Rookie

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    I honestly could give a flying F how much money a person has, money means exactly jack $#!t to me. I've seen what it does to people. Your claim is baseless, and quite frankly insulting. Is Bloomerg News also jealous of his $$? No...so check yourself.

    What Romney is doing is CURRENTLY ILLEGAL, If you get a billion dollars today, you can't do this. He is grandfathered into this. They made this practice against the law, because its kindof sick.

    The actual problem I have with it, and if you look into it without jumping on the tires cop-out "YOU ARE JEALOUS OF $$$" bull-crap is that he is using the disguise of his charitable donation to the church as a revenue stream. All his chest boasting of being a generous man, is actually a stream on INCOME.

    what should have most Romney supporters a bit uneasy after reading this is not so much this terrible fact that Mitt is generating money from his donations to the church, but the fact that Bloomberg news has obtained his tax returns from 2007....I bet this is the tip of the iceberg...

    Last edited: Oct 30, 2012
  4. wistahpatsfan

    wistahpatsfan Rookie

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    Wow.

    Totally missed the sarcasm of my post, huh?
  5. Holy Diver

    Holy Diver Rookie

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    I KNEW IT!!!!.... I thought it was a bit of an odd jab coming from you. we are solid. My bad for not giving you the benefit of the doubt...errr...benefit of the sarcasm

    From the same article, showing his returns and the $$$ the church has been getting from this CRUT...

    No doubt about it...Mitt Romney is a terrible human being...just terrible

    .
    Last edited: Oct 30, 2012
  6. DocHoliday

    DocHoliday Rookie

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    Don't you know it's your fault for being too poor and stupid to take advantage of these perfectly legal things?

    It's everyone's right to minimize their tax liability. Should have taken advantage of it!
    Last edited: Oct 30, 2012
  7. Holy Diver

    Holy Diver Rookie

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    ha! I know..my bad for not being rich back in the 90s.

    The analyst closes the article with the sad truth....

  8. The Brandon Five

    The Brandon Five Rookie

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    But anyone else with a CRUT (like the Kennedys) are ok, right?

    You might have missed this passage in the article:

  9. Holy Diver

    Holy Diver Rookie

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    Nah, its not cool...in fact in 1997, congress decided it wasn't cool. They made it illegal.

    I didn't miss that passage. It seems to me it would be charitable for Mitt to donate his $$$ to the church instead of using it as a revenue stream to him. He could simply NOT use his CRUT, but he still uses a loophole that is now illegal, and the contribution to the church is shrinking.

    what a real stand-up guy!
  10. DocHoliday

    DocHoliday Rookie

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    Who said that?

    I don't know where people get this idea that being unhappy with Romney means we are all Kennedy loving, rank file Democrats who read ThinkProgress and think Obama is the perfect son of George Washington and Abe Lincoln.

    I'm guessing you get this rhetoric from the blogs that dig up Democratic history (Kennedy was a _____) and expect that to mean anything to your average person that doesn't agree with Romney.

    We're not 'libtards' or 'Moonbats' who are suffering from 'the disease of liberalism' :)
    Last edited: Oct 30, 2012
  11. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    They all do something, John Fonda Kerry hides his boat.
  12. The Brandon Five

    The Brandon Five Rookie

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    I guess I just missed all the threads complaining about Kerry and Kennedy's wealth (or any other rich Dem).
  13. khayos

    khayos Rookie

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    The same ones who complain about Romney's wealth also crow about the Wall Street and how we should never bash economic data i.e. they don't see a connection just a tunnel.
  14. Holy Diver

    Holy Diver Rookie

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    MOre than anything, to me this makes me ask myslef the question: If Mitt Romney, a bishop in the Mormon Church, cares more about keeping his CRUT revenue than making a valid contribution to the church, what makes me believe he will have the american people's best interest ahead of his own greed?
  15. DocHoliday

    DocHoliday Rookie

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    Are either running for President?

    Has anyone here declared Kerry as an ideal President? Certainly better than Bush, but nothing else.
  16. khayos

    khayos Rookie

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    Self interest is the name of the game. That's why government should be smaller. Crony capitalism is bad!
  17. Holy Diver

    Holy Diver Rookie

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    the government HAS gotten smaller. Crony ANYTHING is bad... whats your point? Oh...its just a TALKING POINT, oh...

    If we are dumb enough to elect this greedy man to office, we deserve every cent he steals from us.
  18. PatriotsReign

    PatriotsReign Rookie

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    Most entertainers are incorporated as themselves to take advantage of many tax loopholes that most of us can't get. They can even write-off parties as "Business Entertainment"....If we want to complain about our tax structure, we should all inclusive, shouldn't we?
  19. DocHoliday

    DocHoliday Rookie

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    I'm all for it!

    But electing politicians that engage in this sort of behavior isn't going to get laws passed that end these issues!
  20. Hamar

    Hamar Rookie

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    You are 100% right! And that is why these things will never change. All politicians that make it to a level where they can change these types of things already engage in them. It is like saying tax the rich more, close the loopholes... Who would have to vote to do that? Rich people (politicains) it is not going to happen.

    If Obama gets elected again he will not tax the rich more, that is laughable.
  21. Holy Diver

    Holy Diver Rookie

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    Isn't that Romney's entire economic platform?

    Its odd that you cite Obama in the very next line, even though HIS platform is championing the very thing you claim needs to change.
  22. Hebeill

    Hebeill Rookie

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    CRUT thats sounds dirty to me, in fact its what you find at the bottom of your shoe.
    Last edited: Oct 30, 2012
  23. DocHoliday

    DocHoliday Rookie

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    As depressing as it is, you are correct. At this point we can only choose what is the least worst.

    This is why the number 1 most important thing change this country requires is some form of 'Clean Elections' and/or campaign finance reform.

    Clean Elections have a lot of problems, but the core of it is you can either take public funds for your campaign and agree not to use private sources or campaign only with private sources of funding. It allows a moral high ground you can point out in campaigns as well as allowing third party candidates funding they'd never otherwise get.

    Fund matching is an even more interesting proposal but it'd never pass, probably for good reasons - if you are the publically funded candidate, the state will match your allowance to what the opposition has raised.

    Limits on campaign spending is probably the easiest way to institute the idea, but it's more or less a violation of Freedom of Speech.

    Something needs to be done.
    Last edited: Oct 30, 2012
  24. Hamar

    Hamar Rookie

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    Yes, because I think Romney is a great choice, not. Yeah, I voted for Obama based on his assertions that he would change Washington, no more lobbyists, no more pork and transparency. Is that what we got? Not even close, if anything he made it all worse. You are a very intelligent person, you must realize that what a politician says to get elected and what he does once he gets elected are usually very different, sadly :(
  25. Holy Diver

    Holy Diver Rookie

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    Thats what the definition of "Politician" has mutated into, and for some reason has become acceptable.

    I think Obama has gone forward with a lot of what he said he'd do, and aside form a few nit-picky things I don't personally agree with, he has done a great job. Romney has sharted his way to the nomination. I follow politics very closely, as most on this board do, and I'm being honest when I tell you that I have no frickin CLUE where Mitt Romney stands on almost every issue. To me thats not leadership. I rarely agreed with Bush, or Senator McCain, but I could tell you where they stood because they actually STOOD for things.

    Would I support a guy who profits off his church donations to run my country? Hell no. Its unacceptable to elect a spineless jellyfish, especially a greedy self absorbing one like Mitt Romney.

    Unless the acceptable definition of "Politician" is changed to include the word "Charity Profitier".

    MItt Romney has changed the spelling of Prophet to PROFIT.
  26. The Brandon Five

    The Brandon Five Rookie

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    They both did. I know you were probably in Middle School when Kerry did, but Ted did as well.
  27. DocHoliday

    DocHoliday Rookie

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    Forgive me for not posting on their flaws then

    I was busy being too skinny for HIGH school football :cool:

    Edited.
    Last edited: Oct 30, 2012
  28. IllegalContact

    IllegalContact Rookie

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    if it is legal, then it is not shady


  29. Wolfpack

    Wolfpack Banned

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    Well let's see if the article you quoted supports your contention that it's "SUPER shady".

    While Romney’s tax avoidance is legal and common among high-net-worth individuals

    Nope!
  30. Wolfpack

    Wolfpack Banned

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    But you have no problem supporting a guy whose church activities involve worshipping and idolizing a man who openly and unapologetically professes his hatred of America.

    [​IMG]

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