What's Romney Hiding?

[quote]smh23 wrote:

Reid is an idiot.
[/quote]

Yet, he keeps getting reelected.

What does that say for his constituents?

[quote]orion wrote:

Those are not dufi, those are assclowns with a touch of buffonery.

[/quote]

Cupp (the lady exasperated with the others) was dead on. The commentary should have been “Reid is dumb, and a big fat liar. There’s no story here. Romney paid, and was helluva charitable, too. Reid played us for fools, having us media heads rubbing our hands together over the potential. Helping him, Reid, keep a politically motivated charge alive. Shame on Reid.” Instead, they reached back to an offhand remark Romney made, when defending himself against charges that he didn’t pay all of his taxes (even that he had paid none). It was such a ludicrous attempt at trying to salvage a potential story on Romney, the actual story (he didn’t pay!) having gone dead in the water. But the angle they took…Ultimately, the average American would boil down their argument to…“Romney may have paid his taxes, fine. But, he paid too much! Busted, Mr. Romney. Busted!” I mean, what?

[quote]Sloth wrote:

[quote]orion wrote:

Those are not dufi, those are assclowns with a touch of buffonery.

[/quote]

Cupp (the lady exasperated with the others) was dead on. The story should have been “Reid is dumb, and a big fat liar. There’s no story here. He paid, and was helluva charitable, too.” Instead, they reached back to an offhand remark Romney made, when defending himself against charges that he didn’t pay all of his taxes (even that he had paid none). It was such a ludicrous attempt at trying to salvage a potential story on Romney that had just gone dead in the water. But the angle they took…Ultimately, the average American would boil down their argument to…“Romney may have paid his taxes, fine. But, he paid too much! Busted, Mr. Romney. Busted!” I mean, what?
[/quote]

I read a through the commentaries to a few charged articles in Austrian newspapers.

I hate to break this to you, but the majority of people seem to be ignorant, malicious idiots.

Why should they not get the journalism they deserve if they ultimately pay for it?

[quote]orion wrote:

[quote]Sloth wrote:

[quote]orion wrote:

Those are not dufi, those are assclowns with a touch of buffonery.

[/quote]

Cupp (the lady exasperated with the others) was dead on. The story should have been “Reid is dumb, and a big fat liar. There’s no story here. He paid, and was helluva charitable, too.” Instead, they reached back to an offhand remark Romney made, when defending himself against charges that he didn’t pay all of his taxes (even that he had paid none). It was such a ludicrous attempt at trying to salvage a potential story on Romney that had just gone dead in the water. But the angle they took…Ultimately, the average American would boil down their argument to…“Romney may have paid his taxes, fine. But, he paid too much! Busted, Mr. Romney. Busted!” I mean, what?
[/quote]

I read a through the commentaries to a few charged articles in Austrian newspapers.

I hate to break this to you, but the majority of people seem to be ignorant, malicious idiots.

Why should they not get the journalism they deserve if they ultimately pay for it?[/quote]

Here’s another lovely piece from the same group. Romney made the mistake of using the word ‘angry’ when speaking about the negative tone of Obama’s campaign.

This is definitely among the best things that could have happened to the Romney campaign right now.

[quote]Tiribulus wrote:
This is definitely among the best things that could have happened to the Romney campaign right now.[/quote]

I don’t know, Tiribulus.

This campaign can give someone a bad case of whiplash.

One side comes out with a “gotcha’” moment…then the other side…then the other…with little or no movement in any Poll.

With that being said; my feeling is: Close Race=Advantage Romney.

(But what do I know, right?)

Mufasa

[quote]pittbulll wrote:
He is hiding the fact that he was at Bain when he said he was not[/quote]

Actually no. A Dem campaign bundler took over the job when he left. Also, Romney created more jobs in the private sector at Bain than Obama created with a trillion dollars stimulus money.

A fuckton of what he “donates to charity” goes either to his non-profit or his charitable remainder trust. His non-profit only has to distribute 5% of its assets to charities a year, although he can deduct the entire amount at once. I’m sure the trustee is someone who takes orders from him, as well. A Charitable Remainder Trust allows capital gains taxes to be avoided on the sale of an appreciated asset, and although the money can’t be taken out all at once, only 10% of the profits actually have to be given out to charities–which means CRT’s can actually be very profitable.

[quote]Mufasa wrote:

[quote]Tiribulus wrote:
This is definitely among the best things that could have happened to the Romney campaign right now.[/quote]

I don’t know, Tiribulus.

This campaign can give someone a bad case of whiplash.

One side comes out with a “gotcha’” moment…then the other side…then the other…with little or no movement in any Poll.

With that being said; my feeling is: Close Race=Advantage Romney.

(But what do I know, right?)

Mufasa[/quote]

Right, you said that McCain would beat Obama…(Sorry but I have to remind you about every three months hope you don’t mind:)

[quote]groo wrote:
A fuckton of what he “donates to charity” goes either to his non-profit or his charitable remainder trust. His non-profit only has to distribute 5% of its assets to charities a year, although he can deduct the entire amount at once. I’m sure the trustee is someone who takes orders from him, as well. A Charitable Remainder Trust allows capital gains taxes to be avoided on the sale of an appreciated asset, and although the money can’t be taken out all at once, only 10% of the profits actually have to be given out to charities–which means CRT’s can actually be very profitable. [/quote]

Good job groo, don’t you wish you could explain away all of Obama’s failures that easy?

[quote]ZEB wrote:

[quote]Mufasa wrote:

[quote]Tiribulus wrote:
This is definitely among the best things that could have happened to the Romney campaign right now.[/quote]

I don’t know, Tiribulus.

This campaign can give someone a bad case of whiplash.

One side comes out with a “gotcha’” moment…then the other side…then the other…with little or no movement in any Poll.

With that being said; my feeling is: Close Race=Advantage Romney.

(But what do I know, right?)

Mufasa[/quote]

Right, you said that McCain would beat Obama…(Sorry but I have to remind you about every three months hope you don’t mind:)[/quote]

Keep me in line, Zeb!

(I really thought McCain/Palin had a LOT of momentum coming out of the Convention…!)

Mufasa

[quote]ZEB wrote:

[quote]groo wrote:
A fuckton of what he “donates to charity” goes either to his non-profit or his charitable remainder trust. His non-profit only has to distribute 5% of its assets to charities a year, although he can deduct the entire amount at once. I’m sure the trustee is someone who takes orders from him, as well. A Charitable Remainder Trust allows capital gains taxes to be avoided on the sale of an appreciated asset, and although the money can’t be taken out all at once, only 10% of the profits actually have to be given out to charities–which means CRT’s can actually be very profitable. [/quote]

Good job groo, don’t you wish you could explain away all of Obama’s failures that easy?[/quote]

Been hitting the booze or the weed? In relation to my post what does your post even mean?

[quote]groo wrote:
A fuckton of what he “donates to charity” goes either to his non-profit or his charitable remainder trust. His non-profit only has to distribute 5% of its assets to charities a year, although he can deduct the entire amount at once. I’m sure the trustee is someone who takes orders from him, as well. A Charitable Remainder Trust allows capital gains taxes to be avoided on the sale of an appreciated asset, and although the money can’t be taken out all at once, only 10% of the profits actually have to be given out to charities–which means CRT’s can actually be very profitable. [/quote]

It really doesn’t make a difference for me but I read somewhere that 80% or more just goes to his church. A lot of that is probably used for recruitment or other non-giving to poor people type stuff so I don’t really count it towards charity. What you said above is also true and related to that, he just gives a huge chunk of his money to his own charity which then slowly gives it to the church. So for his tax purposes its in charity’s hands but he still has control of it unlike a real donation.

Kudos to Romney for getting this return out. It’s simply one distraction that he (sort of) had to put to rest.

But can you guys even BEGIN to imagine the man-hours that was put into going through, page-by-page, what is close to a 400-page public document for someone running for President?

I’m sure Price-WarterhouseCooper will be giving out some Christmas bonuses for the accountants who worked on this one!

Mufasa

[quote]groo wrote:
A fuckton of what he “donates to charity” goes either to his non-profit or his charitable remainder trust. His non-profit only has to distribute 5% of its assets to charities a year, although he can deduct the entire amount at once. I’m sure the trustee is someone who takes orders from him, as well. A Charitable Remainder Trust allows capital gains taxes to be avoided on the sale of an appreciated asset, and although the money can’t be taken out all at once, only 10% of the profits actually have to be given out to charities–which means CRT’s can actually be very profitable. [/quote]

Fucking LOL.

You just couldn’t live with yourself if Romney wasn’t the evil Mr Burns Jon Stewart wants him so desperately to be…

Please show me where the CRT donations are. They aren’t on 2011, and I don’t remember seeing them on 2010.

[quote]sufiandy wrote:

[quote]groo wrote:
A fuckton of what he “donates to charity” goes either to his non-profit or his charitable remainder trust. His non-profit only has to distribute 5% of its assets to charities a year, although he can deduct the entire amount at once. I’m sure the trustee is someone who takes orders from him, as well. A Charitable Remainder Trust allows capital gains taxes to be avoided on the sale of an appreciated asset, and although the money can’t be taken out all at once, only 10% of the profits actually have to be given out to charities–which means CRT’s can actually be very profitable. [/quote]

It really doesn’t make a difference for me but I read somewhere that 80% or more just goes to his church. A lot of that is probably used for recruitment or other non-giving to poor people type stuff so I don’t really count it towards charity. What you said above is also true and related to that, he just gives a huge chunk of his money to his own charity which then slowly gives it to the church. So for his tax purposes its in charity’s hands but he still has control of it unlike a real donation.[/quote]

I bet the LDS has done more for needy people in a weekend than you have in your lifetime.

It is charity, get over it.

[quote]Mufasa wrote:
Kudos to Romney for getting this return out. It’s simply one distraction that he (sort of) had to put to rest.

But can you guys even BEGIN to imagine the man-hours that was put into going through, page-by-page, what is close to a 400-page public document for someone running for President?

I’m sure Price-WarterhouseCooper will be giving out some Christmas bonuses for the accountants who worked on this one!

Mufasa[/quote]

Not nearly that big of a deal. A lot of these forms flow down the the partnerships his trusts are invested in.

And when you do this for a living, it isn’t that bad. His return is pretty straight forward. It is tedious with all the foreign reporting, but not that bad.

I would imagine his return cost 5k to blackout and scan in alone, lol. PWC got some intern to black all that shit out and stand by a copier for an hour.

Given the number of PFIC’s, and direct investments on the 8865… I would say his trust returns are a bitch, well more than his personal. A lot of times someone in Romney’s position will get a 2-5% ownership in all the deals their former VC fund starts, but that depends on the structure of Bain. (I have one client where the founders get a piece for life, and one who each deal is based on who’s deal it is.)

I could have sworn Ropes & Gray signed his 2010, and I’m too lazy to look it up, but even if this isn’t the first year PWC did the return, I assume they did the trust’s and the 990. Hmmm, if he paid more than 100-120k for the work I would be surprised, and half that would be closer to what we would charge for a half dozen returns. Even if it was 200k, that is still peanuts for PWC.

[quote]sufiandy wrote:
…I read somewhere that 80% or more just goes to his church.[/quote]

I’m calling bullshit. I read that his overall tithe to the church is 12.8%. All the rest goes to other charitable organisations. Presumably you can’t find your source now right?

[quote]sufiandy wrote:

[quote]groo wrote:
A fuckton of what he “donates to charity” goes either to his non-profit or his charitable remainder trust. His non-profit only has to distribute 5% of its assets to charities a year, although he can deduct the entire amount at once. I’m sure the trustee is someone who takes orders from him, as well. A Charitable Remainder Trust allows capital gains taxes to be avoided on the sale of an appreciated asset, and although the money can’t be taken out all at once, only 10% of the profits actually have to be given out to charities–which means CRT’s can actually be very profitable. [/quote]

It really doesn’t make a difference for me but I read somewhere that 80% or more just goes to his church. A lot of that is probably used for recruitment or other non-giving to poor people type stuff so I don’t really count it towards charity. What you said above is also true and related to that, he just gives a huge chunk of his money to his own charity which then slowly gives it to the church. So for his tax purposes its in charity’s hands but he still has control of it unlike a real donation.[/quote]

Feeling inadequate?

[quote]SexMachine wrote:

[quote]sufiandy wrote:
…I read somewhere that 80% or more just goes to his church.[/quote]

I’m calling bullshit. I read that his overall tithe to the church is 12.8%. All the rest goes to other charitable organisations. Presumably you can’t find your source now right?[/quote]

In 2011: 1,115k out of 1,330k of cash donations went to LDS. 920k of stock donations to Tyler

http://www.mittromney.com/sites/default/files/shared/mitt_and_ann_romney_2011_1040.pdf
pag 334

In 2010: all cash donations to LDS, 1,525k. 1,458 in stock donations to Tyler.

page 140

It is largely irrelevant. Your church is a perfectly fine organization to donate your money to for rational people. They, you know, help out poor people.