I am so sick of hearing this.........I am not a Romney Supporter in any way......However, ask some of the other accounting folks on BGP and they will tell you that many of the wealthy pay little to no INCOME taxes at times, specifically if they are earning a lot of their income through investments and Real Estate. However they may pay other taxes and fees, and we all pay sales tax.

 

I could not care less about Romney's taxes. I want to hear someone who has some realistic solutions to the problems this country is facing. Politicians who have no plan result to tearing down their opponent because they have nothing better to offer.....

 

I had hopes that Obama would be a leader who could bring the country together and help steer us on the path to financial stability........... and that has not proven to be true at this point.

So if I understand it correctly the real issue isn't that Romney didn't file a tax return, it's that under the laws of the country he lives in, he wasn't required to pay income tax. Is that correct?

So if I understand it correctly the real issue isn't that Romney didn't file a tax return, it's that under the laws of the country he lives in, he wasn't required to pay income tax. Is that correct?

 

I believe that is what Sen Reid is referring to.

 

Or he just wants to see the returns knowing that the effective tax rate is going to be very low considering the source of Gov Romney's income.

A little googling and wikiing...

 

- The majority of the Romney's wealth has been in blind trust since 2003.

 

Mitt Romney - Wikipedia, the free encyclopedia

 

"As a result of his business career, by 2007, Romney and his wife had a net worth of between $190 and $250 million, most of it held in blind trusts since 2003. "

 

I am not sure how the taxes records work on a blind trust. Since you can see the activity in trust it must hard to know how the money is growing.

A little googling and wikiing...

 

- The majority of the Romney's wealth has been in blind trust since 2003.

 

Mitt Romney - Wikipedia, the free encyclopedia

 

"As a result of his business career, by 2007, Romney and his wife had a net worth of between $190 and $250 million, most of it held in blind trusts since 2003. "

 

I am not sure how the taxes records work on a blind trust. Since you can see the activity in trust it must hard to know how the money is growing.

 

How hard can it be to see a monthly statement? No way in hell he's flying blind. I think he even commented once about giving general direction. He got his family attorney to move $10M over to his son Tagg to manage.

 

Note: In 1984 Mr Romney badgered Ted Kennedy about having his money in a blind trust and said a blind trust is a "ruse." He's apparently evolved in his thinking.

How hard can it be to see a monthly statement? No way in hell he's flying blind. I think he even commented once about giving general direction.

 

He may give 'general direction' but he can not direct it. And other than a bottom line number he should not see the details. Hence why it is 'blind'. He is not allowed to know what it is invested in. It is to avoid conflict of interest.

 

Presidents have always done this in recent history.....until the current administration. Obama did not put his assets in a blind trust as is the common practice.

He may give 'general direction' but he can not direct it. And other than a bottom line number he should not see the details. Hence why it is 'blind'. He is not allowed to know what it is invested in. It is to avoid conflict of interest.

 

Presidents have always done this in recent history.....until the current administration. Obama did not put his assets in a blind trust as is the common practice.

 

He initially did as a senator but closed it out and put all of is money in US treasury bonds and diversified funds. Seems pretty transparent.

He initially did as a senator but closed it out and put all of is money in US treasury bonds and diversified funds. Seems pretty transparent.

 

"Diversified funds" would not constitute potential conflict of interest? Wonder if it has Green Funds heavily weighted?

I believe that is what Sen Reid is referring to.

 

Or he just wants to see the returns knowing that the effective tax rate is going to be very low considering the source of Gov Romney's income.

 

So Harry Reid is making an ordeal out of Romney not paying taxes that he was not required to pay? Let me ask everyone this, how many people do you know that pays more taxes than they are required to pay? Please tell me one person.

So Harry Reid is making an ordeal out of Romney not paying taxes that he was not required to pay? Let me ask everyone this, how many people do you know that pays more taxes than they are required to pay? Please tell me one person.

 

You're not shocked, right?

 

You make the rich white guy look to be so elite that he can't relate to the common man.

 

You make the Ivy-school educated black man look out of touch with the common man.

 

Hardly new.

You're not shocked, right?

 

You make the rich white guy look to be so elite that he can't relate to the common man.

 

You make the Ivy-school educated black man look out of touch with the common man.

 

Hardly new.

 

Oh I get it but it is way below the belt. Reid gives the impression that Romney is a criminal, not someone who took advantage of the system

Oh I get it but it is way below the belt. Reid gives the impression that Romney is a criminal, not someone who took advantage of the system

 

I don't think most took it as illegal actions on the Governor's part.

I don't think most took it as illegal actions on the Governor's part.

 

I don't think most informed and intelligent people took it that way, but I'm 100% positive that's they Reid was trying to spin it to the uneducated. And for the headline only media consumers, all they see is "Reid: Romney didn't pay any taxes for 10 years"

I don't think most took it as illegal actions on the Governor's part.

 

I'm not so sure I would say "most". I think Reid new exactly what he was doing.

I'm not so sure I would say "most". I think Reid new exactly what he was doing.

 

I agree that he knew what he was doing, but I think Reid was trying incite anger about the state of the tax system, not accuse him of cheating on his taxes. I'm sure Reid is furious about what he perceives as loopholes that allow the supremely wealthy to pay in a lower percentage of their income than many other Americans.

 

Whatever his intent, I'm about done with this story now. What's next in this horrible election cycle?