What’s on your tax return? For Romney, more than $1M in foreign tax credits

[Crabtownboy]

Romney, deductions for foreign tax credits.

In fact, Romney and his wife, Ann, paid more than $1.2 million in foreign taxes on so-called passive investments from 2000 through 2010, and paid about $800,000 in taxes on general income to unspecified countries. That’s according to the couple’s own tax returns.

Their foreign tax bills entitled them to more than $1.5 million in tax credits in the United States since 2000, thanks to Internal Revenue Service rules that prevent businesses and investors from being doubly taxed on money they earn abroad.

http://www.washingtonpost.com/polit...-tax-credits/2012/05/07/gIQAD9Sa8T_story.html

 

[mandym]

Good!:thumbsup:

 

[LadyEagle]

Yep, very good. At least the info is out there, unlike the college grades, courses, and who paid for the "education" of the current inhabitant of the WH.

In fact, from the AP:

In fact, Romney and his wife, Ann, paid more than $1.2 million in foreign taxes on so-called passive investments from 2000 through 2010, and paid about $800,000 in taxes on general income to unspecified countries. That's according to the couple's own tax returns.

Their foreign tax bills entitled them to more than $1.5 million in tax credits in the United States since 2000, thanks to Internal Revenue Service rules that prevent businesses and investors from being doubly taxed on money they earn abroad.

 

[ktn4eg]

And the tax law(s) that Romney violated would be.......?

 

[just-want-peace]

And the tax law(s) that Romney violated would be.......?

Crabby's just irritated because Romney made money that wasn't "approved"by the DNC.

Just a tentacle of the class warfare his idol (the "0") is promoting.

 

[targus]

Crabby's just irritated because Romney made money that wasn't "approved"by the DNC.

Just a tentacle of the class warfare his idol (the "0") is promoting.

Heaven frobid that we should have a President that has actually started a business, grown a business, made a profit, successfully invested large amounts of money, or paid taxes.

We are far better off with the current crew of inexperienced, never held a real job, never owned a business, and tend not to pay their income taxes bunch clowns that are currently in office.

Does anyone else remember that Obama had to amend his prior years income tax returns when he disclosed this tax returns because he deducted political contributions as charitable contributions?

What Romney did on his return is legal.

What Obama did was not.

 

[AresMan]

And the tax law(s) that Romney violated would be.......?

The Crabtownboy Crybaby Tax Law.

 

[matt wade]

Crabby, what's on your tax return? You've worked overseas, so did you claim this tax credit?

 

[targus]

Crabby, what's on your tax return? You've worked overseas, so did you claim this tax credit?

Very good question. :thumbsup:

No doubt we will never get the answer though.

 

[Salty]

...Does anyone else remember that Obama had to amend his prior years income tax returns when he disclosed this tax returns because he deducted political contributions as charitable contributions?

What Romney did on his return is legal.

What Obama did was not.

and your point

 

[Crabtownboy]

Crabby, what's on your tax return? You've worked overseas, so did you claim this tax credit?

My trips to Prague where I worked did not pay. I was a volunteer, so I earned no income. Thus, I did not pay any foreign government any taxes. So, the short answer to your question is, no I did not claim any foreign tax credit.

 

[targus]

and your point

That it is hypocritical to be critical of one Presidential candidate for following the income tax regulations while giving a pass to the other who violated the law when filing his tax returns.

 

[Salty]

and your point

That it is hypocritical to be critical of one Presidential candidate for following the income tax regulations while giving a pass to the other who violated the law when filing his tax returns.

Oops - forgot the smileys

and your point :smilewinkgrin:

Targus - you are absolutely right and I fully agree with you.

case in point - has anyone here tried to defend Spiro?

 

[HankD]

Romney, deductions for foreign tax credits.

Hmm, maybe the GSA ought to look into this.

HankD

 

[LadyEagle]

What's on my tax return? Nothing about agreeing to fund the Taliban or Muslim Brotherhood. Nothing about agreeing to pay for Obama family vacations.

At least with Mitt Romney, he doesn't need to live like a king by freeloading on tax dollars - he made his own wealth the hard way, by WORKING for it. Betcha he won't be constantly on the golf course, either, or having his face emblazend on WH basketballs like the zero.

 

[Arbo]

Romney, deductions for foreign tax credits.

Good. He's showing fiscal responsibility.

 

[billwald]

Romney considers firing employees a recreation, not work.

 

[LadyEagle]

Romney considers firing employees a recreation, not work.

You have proof of this, of course.

 

[Crabtownboy]

You have proof of this, of course.

Remember Romney saying, "I love to fire people"?

 

[LadyEagle]

Remember Romney saying, "I love to fire people"?

You misquote him. He wasn't talking about firing people, he was talking about switching insurance companies. I have switched insurance companies before, haven't you? I have switched plumbers, grocery stores, cars, businesses that don't provide the kind of service I expect. Haven't you?

Now if Mr. Romney kept on throwing good money after bad, like Solyndra, we wouldn't think he was very bright or a very good businessman, would we?

And if voters keep throwing good money after bad by re-electing someone who is bankrupting our country for us and our children and grandchildren, voters must not be very bright.

I realize the election is rigged with our votes being counted in Spain. Gee, I wonder if that was a topic of discussion when Michelle went on that trip to Spain on our dime....

Anyway, I still hope. I still want to believe Obama and the Democrats won't steal this election, too, but I probably am being naive.