Seriously, Romney’s a scumbag.

So you know how Romney said he never paid less than 13% in taxes?  Then he didn’t deduct all his charitable donations (like, to the Mormon church) in 2011 so that would retroactively be true (otherwise he would’ve paid only 9% in taxes).  The 14.1% artificially inflated rate that Mitt paid in 2011 was less than half of what I pay (which means the 9% he could’ve paid was less than a third of what I pay).

Turns out that those aren’t “charitable donations” so much as a tax haven.

“In this instance, Romney used the tax-exempt status of a charity — the Mormon Church, according to a 2007 filing — to defer taxes for more than 15 years,” Bloomberg’s Jesse Drucker explained. “At the same time he is benefitting, the trust will probably leave the church with less than what current law requires.”

“The main benefit from a charitable remainder trust is the renting from your favorite charity of its exemption from taxation,” Blattmachr said. Despite the name, giving a gift or getting a charitable deduction “is just a throwaway,” he said. “I used to structure them so the value dedicated to charity was as close to zero as possible without being zero.”

But don’t worry, this guy’s totally going to fix the wealth divide in this country.

To anybody in this country who isn’t rich as all hell, it doesn’t matter what this guy believes about ancient Jews rising from the dead, he is not on your side.

  • smrnda

    A few organizations need to lose their charitable status if they facilitate this kind of tax dodging. To me, Romney might as well have a bag full of money, put it in the hands of a member of the Mormon Clergy, then run back a few decades later and grab the bag tax free.

    I think the thing that few want to admit is that an economy where a guy like Mitt makes money hand over fist and where everybody else gets screwed is a real possibility – it’s been that way for a while since the rising tide does not float all boats.

  • Fapzilla

    How the crap is it a charitable donation to give money to a religious organization in which you’re a high-ranking member, and which builds for-profit malls in Salt Lake City? That’s not charity. That’s a fucking investment. It’s tax evasion. The guy doesn’t give a shit about anyone or anything that won’t profit him in some fashion.

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  • trucreep

    2009 Tax Amnesty!

  • iknklast

    “But don’t worry, this guy’s totally going to fix the wealth divide in this country.”

    He’s going to do just that. He’s going to fix it so that the wealth is no longer divided. It’s all in the hands of the rich, and the rest of us just have scrip we can use at the country store…if they decide to leave us that much.

    But take heart. This guy is charitable, right? He’ll throw us a crust of bread now and then (if we’re members of the Mormon church).

    • iknklast

      Oops, sorry, make that company store, not country store. It’s very important that the store belong to the company so they can get back what little they pay their workers by selling them overpriced goods.


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