• If you are having problems logging in please use the Contact Us in the lower right hand corner of the forum page for assistance.

Romney - Tax Loopholes

A

Anonymous

Guest
Dutch Newspaper Reports Romney Avoided $100 Million in Taxes

This morning, investigative reporters at a quality Dutch newspaper, De Volkskrant, published a story that Mitt Romney avoided $100 million in dividend taxes using a complex route that ran through The Netherlands. The mechanism used an arcane clause in the tax treaties that determine which country can tax which type of income when a construction, in this case a private equity fund, runs through multiple countries. Some of the data came from legal documents filed with the Dutch Chamber of Commerce. The reporters repeatedly asked Romney to comment on the story but he refused.

http://www.volkskrant.nl/vk/nl/2680/Economie/article/detail/3342442/2012/11/05/Romney-ontwijkt-belasting-door-sluipweg-via-Nederland.dhtml


Well-one thing if Romney gets in he will know all the tax loopholes for the ultra wealthy to use...
The question is will he use than knowledge to help the country-- or his ultra wealthy buddies :???:
 

loomixguy

Well-known member
Oldtimer said:
Dutch Newspaper Reports Romney Avoided $100 Million in Taxes

This morning, investigative reporters at a quality Dutch newspaper, De Volkskrant, published a story that Mitt Romney avoided $100 million in dividend taxes using a complex route that ran through The Netherlands. The mechanism used an arcane clause in the tax treaties that determine which country can tax which type of income when a construction, in this case a private equity fund, runs through multiple countries. Some of the data came from legal documents filed with the Dutch Chamber of Commerce. The reporters repeatedly asked Romney to comment on the story but he refused.

http://www.volkskrant.nl/vk/nl/2680/Economie/article/detail/3342442/2012/11/05/Romney-ontwijkt-belasting-door-sluipweg-via-Nederland.dhtml


Well-one thing if Romney gets in he will know all the tax loopholes for the ultra wealthy to use...
The question is will he use than knowledge to help the country-- or his ultra wealthy buddies :???:

If it's legal, what's the problem? Betcha there are some ultra wealthy big time libs who have done the same...where is your righteous indignation concerning them? Why aren't you complaining about Buffet fighting the IRS concerning Berkshire's supposed tax bill?

It's pretty plain to see you have a bad case of checkbook envy.
 

Faster horses

Well-known member
OT-If what you say (or pasted) is true, Romney could tell his buddies now.
He wouldn't have to wait til he was president. He knows just as much now about tax loopholes as he would then.

You sure worry a lot about the GOP, yet give the libs a PASS. :x
It's getting really OLD!

BTW since you are so envious that Romney has money, think about this:
#1. Obama has more money than most' people
#2. Remember how much Romney gives to Charity
#3. Remember Romney gave away his inheritance from his father
#4. Yes, I think he would use his knowledge for the GOOD OF THE COUNTRY. Now that would be something new, wouldn't it?
#5. When are all those tax-evaders in Obama's administration going to pay up?

Oh, did you hear that cultist Harry Reid say that if Romney was president, he would REFUSE to work with him? Nice bi-partisan guy, isn't he?

So now you can tell us how the GOP wouldn't work with Obama.
Except you can save all that typing--we've heard it all before. :D
 

Mike

Well-known member
This article traces back to it's origination at the New York Times.

Plus, gifts to a non-profit are legally deductible.

Nothing to see here.

Carry on.
 

TexasBred

Well-known member
Oldtimer said:
Dutch Newspaper Reports Romney Avoided $100 Million in Taxes

This morning, investigative reporters at a quality Dutch newspaper, De Volkskrant, published a story that Mitt Romney avoided $100 million in dividend taxes using a complex route that ran through The Netherlands. The mechanism used an arcane clause in the tax treaties that determine which country can tax which type of income when a construction, in this case a private equity fund, runs through multiple countries. Some of the data came from legal documents filed with the Dutch Chamber of Commerce. The reporters repeatedly asked Romney to comment on the story but he refused.

http://www.volkskrant.nl/vk/nl/2680/Economie/article/detail/3342442/2012/11/05/Romney-ontwijkt-belasting-door-sluipweg-via-Nederland.dhtml


Well-one thing if Romney gets in he will know all the tax loopholes for the ultra wealthy to use...
The question is will he use than knowledge to help the country-- or his ultra wealthy buddies :???:

Amazing OT...if you had done this it would have simply been seen as utilizing the IRS code to your advantage..nothing illegal about it. At least he didn't squander his tax savings on slow horses, fast women and liquor.
 

Mike

Well-known member
Democratic Tax Cheats Outnumber Republican, 72% v. 28%

The Daily Beast, America's Tax Cheating Politicians:
Since Tax Day will be the talk of the weekend, The Daily Beast scoured hundreds of news reports going back to the 1990s to find which political party can claim the most tax offenders. We came up with a list of 25 politicians who have been embroiled in tax scandals over the past two decades.
We devised the following points system to rank them:
• 3 points for each felony tax offense.
• 1 point for each misdemeanor tax offense, or official ethics conviction.
• .5 point for each felony tax indictment.
• .25 point for each misdemeanor tax indictment.
And, because a Congressional tax scandal garners more negative attention than a mayoral tax scandal, we also took the level of public office into account:
• 1 point for a state legislator or mayor.
• 3 points for a U.S. representative, statewide official, or federal lobbyist.
• 5 points for a governor or presidential nominee.
Finally, because come sentencing time the courts tend to favor defendants who plead guilty, we knocked off a point for the scofflaws who pleaded guilty. Ties were broken by the amount of taxes owed, if determinable, or by fine levied.
The verdict? Turns out Republicans have the bigger names—Jack Abramoff, Randy “Duke” Cunningham—but Democrats have the most tax scandals by a margin of 18 to 7. ... Republicans and Tea Partiers tend to shout the loudest when it comes to tax reform, and they’re also the most law abiding—when it comes to paying their taxes, anyway.
 

TexasBred

Well-known member
Apparently this is a very common action by corporations with foreign offices and is perfectly legal. Yet Washington wants to raise the corporate rate even higher.

Apple paid hardly any taxes to the US:


http://www.huffingtonpost.com/2012/11/05/apple-income-taxes-paid-outside-us_n_2073238.html?icid=maing-grid7%7Cmaing8%7Cdl27%7Csec3_lnk1%26pLid%3D230110
 

Tam

Well-known member
Oldtimer said:
Dutch Newspaper Reports Romney Avoided $100 Million in Taxes

This morning, investigative reporters at a quality Dutch newspaper, De Volkskrant, published a story that Mitt Romney avoided $100 million in dividend taxes using a complex route that ran through The Netherlands. The mechanism used an arcane clause in the tax treaties that determine which country can tax which type of income when a construction, in this case a private equity fund, runs through multiple countries. Some of the data came from legal documents filed with the Dutch Chamber of Commerce. The reporters repeatedly asked Romney to comment on the story but he refused.

http://www.volkskrant.nl/vk/nl/2680/Economie/article/detail/3342442/2012/11/05/Romney-ontwijkt-belasting-door-sluipweg-via-Nederland.dhtml


Well-one thing if Romney gets in he will know all the tax loopholes for the ultra wealthy to use...
The question is will he use than knowledge to help the country-- or his ultra wealthy buddies :???:

Oldtimer do you think Kerry knew the taxes on his big yacht would be less if he parked in a different state than the one he lives it?

Do you think Jeffery Imelt (Obama's Jobs Councel Chair) knows it is cheaper to park GE profits in a foreign country verses bringing them back to the US and paying the US tax rate on them?

When are you going to start posting articles about Obama's appointees that are LEGALLY :wink: working within the US Tax code to get out of paying THEIR FAIR SHARE while preaching EVERYONE ELSE SHOULD PAY THEIR FAIR SHARE. :roll:
 

Steve

Well-known member
Well-one thing if Romney gets in he will know all the tax loopholes for the ultra wealthy to use...
The question is will he use than knowledge to help the country-- or his ultra wealthy buddies

with Obama the question is already asked and answered.. nothing done,... every buddy paid off.. .. :?

We all know that Obama who helped his buddies and did nothing about any of the loopholes during the entire two years he had control of both houses.,..

We at least have hope that Romney will grow the economy so we can collect some taxes from someone.. :? and deal with some of the more egregious exemptions.
 

Whitewing

Well-known member
Hey OT, absolutely nothing wrong with tax avoidance. Tax evasion is another matter.

Only an idiot would pay taxes he could otherwise avoid. Guess that means you. :lol:
 

hypocritexposer

Well-known member
OT is just bringing up another broken promise of obama's. I don't think he'll get another chance to fulfill all those promises you believed, OT.



FactChecking Obama
August 29, 2008
He stuck to the facts, except when he stretched them.


Summary

We checked the accuracy of Obama's speech accepting the Democratic nomination, and noted the following:

Obama said he could “pay for every dime” of his spending and tax cut proposals “by closing corporate loopholes and tax havens.” That’s wrong – his proposed tax increases on upper-income individuals are key components of paying for his program, as well. And his plan, like McCain’s, would leave the U.S. facing big budget deficits, according to independent experts.

He twisted McCain’s words about Afghanistan, saying, “When John McCain said we could just 'muddle through' in Afghanistan, I argued for more resources.” Actually, McCain said in 2003 we “may” muddle through, and he recently also called for more troops there.

He said McCain would fail to lower taxes for 100 million Americans while his own plan would cut taxes for 95 percent of “working” families. But an independent analysis puts the number who would see no benefit from McCain’s plan at 66 million and finds that Obama’s plan would benefit 81 percent of all households when retirees and those without children are figured in.

Obama asked why McCain would "define middle-class as someone making under five million dollars a year"? Actually, McCain meant that comment as a joke, getting a laugh and following up by saying, "But seriously ..."

Obama noted that McCain’s health care plan would "tax people’s benefits" but didn’t say that it also would provide up to a $5,000 tax credit for families.

He said McCain, far from being a maverick who’s "broken with his party," has voted to support Bush policies 90 percent of the time. True enough, but by the same measure Obama has voted with fellow Democrats in the Senate 97 percent of the time.

Obama said "average family income" went down $2,000 under Bush, which isn't correct. An aide said he was really talking only about "working" families and not retired couples. And – math teachers, please note – he meant median (or midpoint) and not really the mean or average. Median family income actually has inched up slightly under Bush.

http://www.factcheck.org/elections-2008/factchecking_obama.html
 

Steve

Well-known member
Eliminate all oil and gas tax loopholes


"Eliminating special tax breaks for oil and gas companies: including repealing special expensing rules, foreign tax credit benefits, and manufacturing deductions for oil and gas firms."

Sources: "Barack Obama's Comprehensive Tax Plan"

status,.. didn't happen ... broken promise..



Close loopholes in the corporate tax deductibility of CEO pay

Set rules regarding the tax deductibility of the salaries of CEOs, but forms of non-salary compensation have become popular. Obama would look at revamping definitions of compensation.

Sources: Obama campaign interviews with the Tax Policy Center

status,.. didn't happen ... broken promise..

Require publicly traded financial partnerships to pay the corporate income tax

Require publicly traded financial partnerships to pay the corporate income tax.

Sources: Obama campaign interviews with the Tax Policy Center

status,.. didn't happen ... broken promise..

this list could just go on forever.. hopefully it will end tomorrow..
 

okfarmer

Well-known member
I don't read 90% of "Syphilis (Brain) Sam's" trash, but was he saying that Romney found legal tax deductions?

What about his hero, Billionaire Buffet.... How much money does he still owe the US Treasury after he maxed out his tax deductions and tax credits and good ol boy loop holes with Barry?

How much tax money is being robbed from the US citizens?
 

Traveler

Well-known member
Faster horses said:
OT-If what you say (or pasted) is true, Romney could tell his buddies now.
He wouldn't have to wait til he was president. He knows just as much now about tax loopholes as he would then.

You sure worry a lot about the GOP, yet give the libs a PASS. :x
It's getting really OLD!

BTW since you are so envious that Romney has money, think about this:
#1. Obama has more money than most' people
#2. Remember how much Romney gives to Charity
#3. Remember Romney gave away his inheritance from his father
#4. Yes, I think he would use his knowledge for the GOOD OF THE COUNTRY. Now that would be something new, wouldn't it?
#5. When are all those tax-evaders in Obama's administration going to pay up?

Oh, did you hear that cultist Harry Reid say that if Romney was president, he would REFUSE to work with him? Nice bi-partisan guy, isn't he?

So now you can tell us how the GOP wouldn't work with Obama.
Except you can save all that typing--we've heard it all before. :D
Great response to another typical class envy thread. Amazing how our 16 trillion dollar debt gets a pass. Everyone under 18 now owes well over $200,000. Is that the hope and change they wanted?
 
Top