Tom Maguire @ JustOneMinute:
Despite their “questions have been raised” headline about Romney’s taxes, the NY Times provides an early answer to one obvious question raised by Senator and alleged pederast Harry Reid (my emphasis):
But even though he has not released his returns from earlier years, the 2010 return sheds some light on those years.
That’s because Mr. Romney paid income tax to foreign countries, and as result claimed in 2010 a $129,697 foreign tax credit, which he used to offset taxes he owed in the United States. American taxpayers who claim the foreign tax credit are required to report their total foreign taxes paid and tax credits used for the previous 10 years. So that return contains foreign tax data going back to 2000.
The good news for Mr. Romney is the forms suggest that he paid at least some federal income tax every year, as he has said he did. He used the foreign tax credit every year to offset his taxes in the United States, and American taxpayers can’t use a tax credit if they owe no federal income tax. This casts even more doubt on the claim by the Senate majority leader, Harry Reid, attributed to an unnamed Bain Capital source, that Mr. Romney paid no income taxes during that time.
I wonder if a head is going to roll at the NYTimes.
It must have pained them to report this.
@Nan G: If they roll, they likely will bounce 2-5 times due to the rubber content!
Good Lord. Mitt Romney has been financially supporting foreign governments.
(Sorry. I just couldn’t resist such a perfect set up.)
@Greg: What and ignoramus! Money made in foreign countries is taxed in foreign countries. There is a credit when income is brought back. I would expect that a commie like you would vote for Romney now because he is also bringing money he earned from foreigners back here to be spread around!
Notice greg doesn’t mention his accusations against Romney now?
It should be abundantly clear to all greg is a liar and outright dem propagandist whore.
@Randy, #4:
I suppose I’m just jealous because the same gross taxable total I’ve earned here in the United States has been taxed first by the federal government, and then by the state government, and then by the county government. Of course, in all fairness, I’m sure Mr. Romney is double or triple taxed on the same money in the same fashion, just like the rest of us.
@Hard Right, #5:
Do you mean the speculation about Mitt being one of the 30,000 or so who participated in the IRS’s 2009 amnesty program because of undisclosed foreign accounts? This information hardly lays that possibility to rest.
No greg. You know I’m talking about your accusations of him not paying his federal taxes and covering it up. Moving the goal posts doesn’t change the fact that you lied.
I see Randy and Hard Right are still in the name-calling business, instead of using substantiated reason.
@Greg:
Even the poor working class schlub can get into this situation. My dad owned Chrysler stock which became Daimler after the merger. When it un-merged, the stock stayed Daimler. Now he pays German taxes on any dividends and takes a deduction on US taxes.
@Greg: Would have expected this garbage from you. BTW how are you coming on proving Reid’s accusation of Romney on the floor of the Senate. You told me he had something to hide. Anything yet or should I assume you where blowing smoke as usual?? BTW, I lived and worked for an American Company in Singapore for three years. Do you honestly think I didn’t pay US or Singapore taxes?? Greeez what a tool!
@Hard Right, #7:
“No greg. You know I’m talking about your accusations of him not paying his federal taxes and covering it up. Moving the goal posts doesn’t change the fact that you lied.
You must be referring to this post, dating from August 1:
Or this one, from August 3:
Or this one:
Reid’s allegation that Romney had paid no taxes over the past 10 years was political hyperbole–an opening gambit in a political game of chess, designed to keep the curious fact that Mitt Romney has refused to release his tax returns in the news. It has been apparent from the partial returns released for 2010 that some taxes were paid. But as he resisted increasing pressure to release more, it became increasingly apparent that someone had decided that something must remain hidden, even at considerable political cost. Suspicions have centered on his possible participation in the IRS’s 2009 undisclosed accounts amnesty program for a while now.
The latest explanation for his refusal runs along the lines that Mr. Romney has been so generous with his charitable contributions, that godly modesty and concerns about embarrassing others who weren’t able to donate so much preclude release. It’s probably the best explanation that’s been forwarded yet, as it gives any legitimate questions raised about his tax practices the appearance of a contemptible attack on his religious virtue.
You throw accusations of lying around much too often and much too casually, in my opinion. I suppose you think of the word as nothing more than another insult.
@Greg:
[my emphasis]
Senator Reid lied so as to ruthlessly further the character assassination of a political opponent.
Deal with it.
But deal with it honestly. Senator Reid is no honest man. Senator Reid however evidences a ruthless will to power.