Reid Suggests Romney Paid No Taxes for 10 Years

#204
#204
ncvol said:
So if he were to release the returns would you then vote for him?
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If he releases them and they show that he paid about the same rate as in the year he did release, it would still be an issue of course, but not nearly what his refusal to release is right now. By the time the election rolled around, it would probably fade for all except the Dem base, who was going to vote against him anyway.

If he releases them and they show he paid zero or close to it on millions of income, it would probably cost him too many votes to be able to overcome.
 
#206
#206
lawgator1 said:
If he releases them and they show that he paid about the same rate as in the year he did release, it would still be an issue of course, but not nearly what his refusal to release is right now. By the time the election rolled around, it would probably fade for all except the Dem base, who was going to vote against him anyway.

If he releases them and they show he paid zero or close to it on millions of income, it would probably cost him too many votes to be able to overcome.
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So I can put you down for a "No" vote even if he released them?
 
#207
#207
Honestly, I had missed the reports that the source was someone formerly in, or connected to, Bain. That is intriguing. I mean, if Reid is flat making it up its pretty smart to have done it that way because it ties the Romney tax return issue to the criticism of Bain. On the other hand, if its true and there is such a source, they would have some credibility because there have been other news accounts of, for example, Romney's use of the IRA mechanism to dodge taxes on enormous investment gains.
 
#209
#209
So how/why would anyone associated with Bain have any idea how much tax MR paid?
 
#211
#211
Well, I know at my company we have designated April 17th as the day we all exchange our tax returns. I was just wondering if they did the same at Bain.
 
#213
#213
Awesome:

The Latest (Retracted) Details on Harry Reid’s Source - By Daniel Foster - The Corner - National Review Online

From Reid aide Jose Parra on Wednesday:

“This person is an investor in Bain Capital, a Republican also, and somebody … who has been dealing with Romney’s company for a long, long time and he has direct knowledge on this,”
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From Parra today:

“I do not know the party affiliation of the source, how long he invested with Bain, or his relationship to Romney beyond the fact that he was an investor with Bain Capital, as Senator Reid has previously stated,”
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Like I said: the source is, most likely, Reid's imagination.
 
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#214
#214
bamawriter said:
Exactly. Reid claims the guy saw Romney's tax returns. Why would Romney just go around showing his personal returns to investors?
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Really doubt a CEO/Pres goes around showing his employees or stockholders his returns. That's why I think this is coming from a review of Romney's returns from within BO's campaign or WH staff.
 
#215
#215
ncvol said:
Well, I know at my company we have designated April 17th as the day we all exchange our tax returns. I was just wondering if they did the same at Bain.
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According to earlier news reports, former Bain employees have admitted that they were a close knit group who worked together to come up with ways to place stock,which they intentionally undervalued, into IRA accounts, so as to avoid the tax hit once the stock was on the market. I find it very easy to believe that they also worked together on other tax-avoidance strategies. In fact, given the prior reports, I'd find it strange if they had not.
 
#217
#217
lawgator1 said:
According to earlier news reports, former Bain employees have admitted that they were a close knit group who worked together to come up with ways to place stock,which they intentionally undervalued, into IRA accounts, so as to avoid the tax hit once the stock was on the market. I find it very easy to believe that they also worked together on other tax-avoidance strategies. In fact, given the prior reports, I'd find it strange if they had not.
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Talking tax strategy and reviewing a return are not the same.
 
#218
#218
ncvol said:
Source?
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Ummmm ...

How about the Wall Street f'ing Journal?

Bain Gave Staff Way to Swell IRAs by Investing in Deals - WSJ.com


"In one particularly successful deal, Bain increased the equity value of a company it had acquired by 36-fold in 20 months. But some Bain employees saw a 583-fold increase over the same period on IRA money they invested in the special share class of that company. Being in an IRA, the gain could then be rolled over, without initially subtracting taxes, into fresh Bain deals, for years of compounding."


Nice return: 58,300 percent in less than two years. And not taxed.
 
#219
#219
So you have moved to a tax deduction argument...I am referring to the fact that they coordinated their tax return preparation or exchanged tax amount and return information.

Like Hog88 states: "Talking tax strategy and reviewing a return are not the same."
 
#220
#220
lawgator1 said:
Ummmm ...

How about the Wall Street f'ing Journal?

Bain Gave Staff Way to Swell IRAs by Investing in Deals - WSJ.com


"In one particularly successful deal, Bain increased the equity value of a company it had acquired by 36-fold in 20 months. But some Bain employees saw a 583-fold increase over the same period on IRA money they invested in the special share class of that company. Being in an IRA, the gain could then be rolled over, without initially subtracting taxes, into fresh Bain deals, for years of compounding."


Nice return: 58,300 percent in less than two years. And not taxed.
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What does that have to do with anyone KNOWING what's in Romney's returns?
 
#221
#221
lawgator1 said:
Ummmm ...

How about the Wall Street f'ing Journal?

Bain Gave Staff Way to Swell IRAs by Investing in Deals - WSJ.com


"In one particularly successful deal, Bain increased the equity value of a company it had acquired by 36-fold in 20 months. But some Bain employees saw a 583-fold increase over the same period on IRA money they invested in the special share class of that company. Being in an IRA, the gain could then be rolled over, without initially subtracting taxes, into fresh Bain deals, for years of compounding."


Nice return: 58,300 percent in less than two years. And not taxed.
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You actually are lost.
 
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#222
#222
ncvol said:
So you have moved to a tax deduction argument...I am referring to the fact that they coordinated their tax return preparation or exchanged tax amount and return information.

Like Hog88 states: "Talking tax strategy and reviewing a return are not the same."
Click to expand...


If you are consprii.... let's just call it "working together" to find ways to shield a 583,000 percent return on investment by use of the IRA mechanism, I'll just say I don't find it terribly hard to believe that they talked about other ways to avoid paying taxes.

Also, as an aside, its not like this is the head of Ford coming down and talking with salespeople about his tax strategy. This was a tiny business of very well educated people making deals and engaging in some, shall we say, dubious, tax schemes.
 
#223
#223
I can also imagine that BO applied and was accepted to 2 Ivy league schools only after applying as a foreign student with crappy grades.

What's the point of this imaginary game we play?
 
#224
#224
lawgator1 said:
If he releases them and they show that he paid about the same rate as in the year he did release, it would still be an issue of course, but not nearly what his refusal to release is right now. By the time the election rolled around, it would probably fade for all except the Dem base, who was going to vote against him anyway.

If he releases them and they show he paid zero or close to it on millions of income, it would probably cost him too many votes to be able to overcome.
Click to expand...

lawgator1 said:
Honestly, I had missed the reports that the source was someone formerly in, or connected to, Bain. That is intriguing. I mean, if Reid is flat making it up its pretty smart to have done it that way because it ties the Romney tax return issue to the criticism of Bain. On the other hand, if its true and there is such a source, they would have some credibility because there have been other news accounts of, for example, Romney's use of the IRA mechanism to dodge taxes on enormous investment gains.
Click to expand...

It's sad that you are the only one in this thread that gets it.
 
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