Re: Occupy Wall Street One Year Later:

[you didn't build that]

On 9/21/2012 6:35 PM, you didn't build dat wrote:
> Occupy Wall Street One Year Later:

Ready for another tour of the internet, old man?

http://www.businessweek.com/news/2012-02-01/romney-tax-returns-show-7-million-in-donations-over-2-years.html

Jan. 24 (Bloomberg) -- Republican presidential candidate Mitt Romney
donated $7 million to charity in the past two years, more than the $6.2
million the candidate and his wife paid in federal taxes in that period,
documents the campaign released show.

The Romneys donated about 16.4 percent of their adjusted gross income of
$42.5 million in the two-year period, according to their 2010 tax
returns and an estimate for 2011 taxes. The 2010 return shows $3 million
in charitable contributions, and the 2011 estimate shows $4 million.

At first glance, the dollar amount of the Romneys’ charitable giving
is “shocking,” Russell James, director of a graduate program in
charitable financial planning at Texas Tech University in Lubbock, said
in a telephone interview today.

[Howard Brazee]

It is interesting that he could have taken more deductions, but he had
stated that he wouldn't pay less than a certain amount (12% ??).

Of course he also has stated that anybody who paid more than he could
get away with is unqualified to be president.

--
"In no part of the constitution is more wisdom to be found,
than in the clause which confides the question of war or peace
to the legislature, and not to the executive department."

- James Madison

[you didn't build that]

On 9/21/2012 8:41 PM, Howard Brazee wrote:
> It is interesting that he could have taken more deductions, but he had
> stated that he wouldn't pay less than a certain amount (12% ??).
>
> Of course he also has stated that anybody who paid more than he could
> get away with is unqualified to be president.
>

http://www.businessweek.com/news/2012-02-01/romney-tax-returns-show-7-million-in-donations-over-2-years.html

In addition to their church donations, the Romneys had deductions for
more than $2 million in donations that are listed as noncash charitable
contributions. That includes tens of thousands of shares of stock in
Domino’s Pizza Inc, Senasata Technologies, Dunkin Donuts and Warner
Chilcott that went to his family’s Tyler Foundation, based in Boston.
Romney’s Bain Capital acquired those companies, records show.

Still, the large amount of cash donations reflects that Romney wasn’t
engaged in an aggressive strategy to use charitable contributions to
lower his taxes, said Miranda Fleischer, an associate professor of
taxation at the University of Colorado Law School.

“In 2011, about 75 percent of what he gave was in cash and that’s not
necessarily the most tax-advantageous method,” she said.

“In 2011, about 75 percent of what he gave was in cash and that’s not
necessarily the most tax-advantageous method,” she said.

The Tyler Foundation made $647,500 in donations during 2010, including
$75,000 to the Center for the Treatment of Pediatric Multiple Sclerosis
and $10,000 to the Dana Farber Cancer Institute. It also donated
$145,000 to the Church of Jesus Christ of Latter-Day Saints, $100,000 to
the George W. Bush presidential library and $10,000 to the Harvard
Business School, of which Romney is an alumnus.