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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. At the same time he is benefiting, the trust will probably leave the church with less than what current law requires, according to tax returns obtained by Bloomberg this month through a Freedom of Information Act request.
NO ****.. Warren Buffet, Bill Gates, are BOTH avoiding taxes by donating their money to charity.
In general, charities don’t owe capital gains taxes when they sell assets for a profit. Trusts like Romney’s permit funders to benefit from that tax-free treatment, said Jonathan Blattmachr, a trusts and estates lawyer who set up hundreds of such vehicles in the 1990s.
“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 when Romney gives the charity money, ITS NO LONGER HIS MONEY, so the fact that the CHARITY, gets to avoid capital gains, isnt Romney, nor any one elses fault who donates...
And, btw, I dare you to find a Democrat that has paid more to charity than Mitt Romney has. That's a bet. A $$$$$$ bet. Bring It.
Well , off the top of my head, how about, Ted Turner, Bill Gates, Warren Buffet and Bill Clinton has raised 100 times more money for charity than Mit will ever personally have in total.
And, btw, I dare you to find a Democrat that has paid more to charity than Mitt Romney has. That's a bet. A $$$$$$ bet. Bring It.
Well , off the top of my head, how about, Ted Turner, Bill Gates, Warren Buffet and Bill Clinton has raised 100 times more money for charity than Mit will ever personally have in total.
And ALL of those individuals are doing the EXACT same thing Romney does, and tens of MILLIONS of americans who give money to charity yearly...
btw, someone helping to raise donations, isnt the same as someone giving their own money..
What "we're" doing? So now you not only dont understand the tax code, but now you suffer from multiple personality disorder...
Quote:
Originally Posted by walidm
Once again we're discussing an issue beyond your understanding.
I'm not going to show you anything. Dig up your own proof. If you can.
Ahh I get it.. You cant backup a dam thing on this thread, and because you cant back anything up, others who dont suffer from the multiple personality disorder that you seem to have, simply dont understand..
Hahaha.. You're a complete embarassment..
EVERYONE gets to write off their donations, Romney is no exemption, and your failure to backup that Romney paid "no taxes", proves you dont have a dam clue what the hell either one of your personalities are talking about..
So if your on the fence you can vote for someone who cares about people. Proves it by donating a good deal of his money and time to charity. Or, we could vote for someone who will donate your money to his political contributors in their losing green adventures. This decision is really hard, not.
P.S. Would Romney let 4 Americans die screaming for help in Benghazi. Then go to bed to rest up for his Vegas fundraising trip.
In the bible,Jesus says the widow who gave two pennies gave more than all the rich givers because she gave all she had!!!
Who's criticizing people who only gave 2 pennies? And we're discussing the tax code, and I dont know of one line in the tax code that quotes the bible, and as an agnostic, I could give a rats ass what the Bible says...
Want to discuss the topic, and how Romney is NO DIFFERENT than EVERYONE ELSE, in regards to the tax code?
What "we're" doing? So now you not only dont understand the tax code, but now you suffer from multiple personality disorder...
Ahh I get it.. You cant backup a dam thing on this thread, and because you cant back anything up, others who dont suffer from the multiple personality disorder that you seem to have, simply dont understand..
Hahaha.. You're a complete embarassment..
EVERYONE gets to write off their donations, Romney is no exemption, and your failure to backup that Romney paid "no taxes", proves you dont have a dam clue what the hell either one of your personalities are talking about..
As usual..
lol...
I can spell.
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lol...
