Romney avoids taxes with Mormon loophole

[MickZagger]

http://mobile.bloomberg.com/news/20...es-via-loophole-cutting-mormon-donations.html

 

[ABM]

OTOH...

http://www.politico.com/news/stories/0912/81529.html

 

[MickZagger]

Mormon charities. Those Mormons need all the charity they can get...47%ers looking for them handouts.

 

[ABM]

Mormon charities. Those Mormons need all the charity they can get...47%ers looking for them handouts.

In all honesty, many, many Mormons are quite charitable, themselves. Many of us could learn from their various humanitarian efforts.

 

[ABM]

...

 

[MickZagger]

You, yourself think Mormon is a cult

 

[ABM]

You, yourself think Mormon is a cult

That certainly doesn't mean I'm not impressed with the charitable efforts of the membership. As I previously mentioned, many of us could learn from some of those principles.

I'm not a Catholic, either, but tend to agree with what this writer has to say about the subject.

http://www.americamagazine.org/content/article.cfm?article_id=13355

 

[BLAZER PROPHET]

I think Mormonism is a cult. I have family in it and it makes me feel uncomfortable.

 

[ABM]

I think Mormonism is a cult. I have family in it and it makes me feel uncomfortable.

Continue to pray for them.

 

[jlprk]

The tax rate for American corporations is 35%, payable to the IRS on profits made inside or outside the U.S. Yeah right. Apple pays a 2% rate on profits it makes overseas.

http://www.tgdaily.com/business-and-law-features/67297-apple-slated-for-tiny-overseas-tax-payments

 

[Denny Crane]

Apple paid 7.5% of its payroll in taxes.

And those evil corporations are a product of government.

 

[huevonkiller]

Taxation seems pretty violent to me, but if you want to donate more by all means... ;]

Politicians are a different matter, I don't really care if they pay more or not.

 

[oldguy]

You, yourself think Mormon is a cult

Since you continue to go on about Romney's religion, maybe you could answer the question I asked in the last thread you were blasting Mormons.

Are you still a Catholic? Do you think your family is stupid for following Catholic traditions?

Go Blazers

 

[magnifier661]

I think if you give any amount to a charitable entity; be it the Red Cross, Salvation Army, church or scientific research; all of that money is written off. You don't have the money, so why be taxed for it? There are thousands of non-profits that have abused the system but if you shut the Mormons down; then everything has to go. Then a snowball of no giving will consume America.

 

[3RA1N1AC]

start your own charity

give all your money to yourself

pretty genius actually

 

[PapaG]

start your own charity

give all your money to yourself

pretty genius actually

Pretty standard. You've heard of the "So and so Foundation for BlahBlahBlah", right? Those are nothing but tax shelters, and pretty much every rich athlete or celebrity protects some of their income by these "charities".

How is it "genius"? It's been common practice for years.

Tiger Woods Foundation

Bill and Melinda Gates Foundation

Paul Allen Foundation

Lance Armstrong Foundation for Cancer Research

You realize this isn't some unique or obscure tax shelter, right?

 

[3RA1N1AC]

a venue i work for has a few of these "charities" so they can give their friends kids scholarships

 

[3RA1N1AC]

Pretty standard. You've heard of the "So and so Foundation for BlahBlahBlah", right? Those are nothing but tax shelters, and pretty much every rich athlete or celebrity protects some of their income by these "charities".

yeah im aware that charities exist

edit: whoa you added a whole bunch of crap there at the bottom

i didnt actually mean that romney is a genius, trust me

 

[magnifier661]

yeah im aware that charities exist

edit: whoa you added a whole bunch of crap there at the bottom

i didnt actually mean that romney is a genius, trust me

At least he is a US citizen!

 

[jlprk]

Apple paid 7.5% of its payroll in taxes.

And those evil corporations are a product of government.

1. It didn't pay that much for high-income employees.
2. Payroll tax is irrelevant to my comparison of corporate income tax, 2% to the 35% you complain about.

 

[jlprk]

Pretty standard. You've heard of the "So and so Foundation for BlahBlahBlah", right? Those are nothing but tax shelters, and pretty much every rich athlete or celebrity protects some of their income by these "charities".

How is it "genius"? It's been common practice for years.
Tiger Woods Foundation
Bill and Melinda Gates Foundation
Paul Allen Foundation
Lance Armstrong Foundation for Cancer Research
You realize this isn't some unique or obscure tax shelter, right?

During the primaries I posted links showing why Newt Gingrich stayed in the race long after he had lost it. He ran for President simply to make money.

The millions of dollars in campaign contributions were used to buy materials (e.g. DVDs of him talking) to be handed out or sold. His campaign org bought them from his for-profit org, headed by him and his wife. So he converted contributions into his own bank account.

 

[ABM]

During the primaries I posted links showing why Newt Gingrich stayed in the race long after he had lost it. He ran for President simply to make money.

I like it! Heck, I may just try that, as well.

 

[maxiep]

start your own charity

give all your money to yourself

pretty genius actually

I believe George Costanza invented the concept when he founded The Human Fund: "Money For People"