Stuff like this right here and why I and other people begin to want to tune the election out. Governor Romney, his wife and Paul Ryan release their tax records, to satisfy the liberal elite class; who are mostly rich also — and the Liberal media, who are also rich. What happens? They use the tax returns to prove how much of an evil rich white man that Governor Romney and Paul Ryan happen to be.
Here’s the release:
In advance of the posting of these new documents, I wanted to provide some top-line details.
Regarding the newly-filed 2011 Tax Return:
In 2011, the Romneys paid $1,935,708 in taxes on $13,696,951 in mostly investment income.
The Romneys’ effective tax rate for 2011 was 14.1%.
The Romneys donated $4,020,772 to charity in 2011, amounting to nearly 30% of their income.
The Romneys claimed a deduction for $2.25 million of those charitable contributions.
The Romneys’ generous charitable donations in 2011 would have significantly reduced their tax obligation for the year. The Romneys thus limited their deduction of charitable contributions to conform to the Governor’s statement in August, based upon the January estimate of income, that he paid at least 13% in income taxes in each of the last 10 years.
As with the 2010 tax return, the 2011 tax return will appear as four separate documents. It includes Governor and Mrs. Romney’s Form 1040 as well as three underlying Massachusetts trusts detailing the sources of their income. Those are The W. Mitt Romney Blind Trust, The Ann D. Romney Blind Trust, and The Romney Family Trust.
The investments within the trusts are managed on a blind basis by me, the trustee. I have sole responsibility for making, holding and disposing of the investments.
Regarding the PWC letter covering the Romneys’ tax filings over 20 years, from 1990 – 2009:
In each year during the entire 20-year period, the Romneys owed both state and federal income taxes.
Over the entire 20-year period, the average annual effective federal tax rate was 20.20%.
Over the entire 20-year period, the lowest annual effective federal personal tax rate was 13.66%.
Over the entire 20-year period, the Romneys gave to charity an average of 13.45% of their adjusted gross income.
Over the entire 20-year period, the total federal and state taxes owed plus the total charitable donations deducted represented 38.49% of total AGI.
You see, I believe that Mitt Romney earned his wealth; fair and square, just like the elite liberal class, and like the elite liberal media in this Country. So, what is it to anyone at all, how much money Mitt Romney and Paul Ryan have in their bank accounts or in anything else? It simply will be used to feed a narrative that Mitt Romney is a evil, out of touch, rich, white man, who does not care about the middle class or the poor. (or black people)
It is politics at its worst; and it is why I tend to ignore stories during the election season.
Here’s the roundup; some are smart people and some are Democrats: The Atlantic Online, CNN, ABCNEWS, Salon, Washington Wire, Michelle Malkin, The Daily Beast, Election 2012, Taking Note, Hot Air, his vorpal sword, Hit & Run, Forbes, Little Green Footballs, No More Mister Nice Blog, Capital New York, New York Magazine, Gawker, The New Republic, The Right Scoop, Union-News, Business Insider, GayPatriot, Outside the Beltway, The PJ Tatler, Politicker, Weasel Zippers, Mother Jones, The Raw Story, The New Civil Rights Movement, Guardian, Mashable!, Mediaite,First Read, Alan Colmes’ Liberaland, Weekly Standard, Towleroad News #gay, Daily Kos, US Politics,Jammie Wearing Fools, National Review, FT Alphaville, The Lonely Conservative and USA Today — Via Memeorandum