Romney's IRA: Investment gurus can you explain this to me?

#151
#151
hog88 said:
Have you ever been audited? The difference between getting fined and or penalized vs not, can be a difference of interpritation between accountants.

So no someone being hit by the IRS (non crimminal) would not change my view of them.
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For me it would depend on the circumstances: 1) Amount involved; 2) Seriousness of the error; 3) steps to rectify it. Things like that.

Not automatically disqualifying, per se, but depending on the circumstances it could get ugly.
 
#152
#152
lawgator1 said:
For me it would depend on the circumstances: 1) Amount involved; 2) Seriousness of the error; 3) steps to rectify it. Things like that.

Not automatically disqualifying, per se, but depending on the circumstances it could get ugly.
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It's not always an error, alot of times the auditor is clueless or just interprets things differently than your accountant.

Would a water pump on a truck be a capital improvement or a repair? Got hit with that one once.
 
#153
#153
hog88 said:
It's not always an error, alot of times the auditor is clueless or just interprets things differently than your accountant.

Would a water pump on a truck be a capital improvement or a repair? Got hit with that one once.
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Well, if it was a $500 issue and, rather than fight the interpretation, you just paid, I wouldn't care.


But if Romney had millions in unpaid taxes and some penalties or fines, I'd want to know a little more about how it happened.
 
#154
#154
lawgator1 said:
Well, if it was a $500 issue and, rather than fight the interpretation, you just paid, I wouldn't care.


But if Romney had millions in unpaid taxes and some penalties or fines, I'd want to know a little more about how it happened.
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if Romney comes out tomorrow and releases his tax returns going back to the Reagan administration, would that make you happy?

no, it wouldn't, you would just move on to some other Quixotic exercise to discredit a candidate you've never had any intention of voting for
 
#155
#155
lawgator1 said:
Well, if it was a $500 issue and, rather than fight the interpretation, you just paid, I wouldn't care.


But if Romney had millions in unpaid taxes and some penalties or fines, I'd want to know a little more about how it happened.
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first point is stupid, second even more so.

If this is an unpaid taxes conversation, the IRS should be driving the train, not our financially idiotic president and his campaign. Granted, Obama's team has done a good job of capturing the clowns. Unfortunately, even with economic giants like LG carrying the water, he has gained no traction and people still see through him.
 
#156
#156
MG1968 said:
if Romney comes out tomorrow and releases his tax returns going back to the Reagan administration, would that make you happy?

no, it wouldn't, you would just move on to some other Quixotic exercise to discredit a candidate you've never had any intention of voting for
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I'd say okay at 2002. Ten years.

Would like to see 1999-2001. But that's more than ten years.
 
#158
#158
Rove and Lanny Davis now saying he needs to release them and growing concern in GOP that the Romney reaction to the whole thing is worse than the returns.

Davis says he wonders if it's that Romney paid nothing in a recent year despite millions in income.
 
#159
#159
^^ Of course Obama would release all of his returns, not much on a 1040EZ.

All of this is just an attempt to stir class warefare. Personally I'd prefer a president who has shown he is smart enough to make millions over someone who has never held a private sector job.
 
#161
#161
I hope Romney sticks to his guns and only releases 2010 and 2011. The Ds have reportedly speant $100 million between Bain and this tax return non issue and have barely moved the needle if at all in swing states. The good news is that being a red stater, I only have to contend with beer, car, tampon, etc. commercials with my Tivo and not endless grainy black and white attack commercials.

http://www.nytimes.com/2012/07/19/u...omic-fears-undercutting-obama-support.html?hp

Obama, Romney in dead heat in presidential race - Political Hotsheet - CBS News
 
#162
#162
Redstater said:
I hope Romney sticks to his guns and only releases 2010 and 2011. The Ds have reportedly speant $100 million between Bain and this tax return non issue and have barely moved the needle if at all in swing states. The good news is that being a red stater, I only have to contend with beer, car, tampon, etc. commercials with my Tivo and not endless grainy black and white attack commercials.

http://www.nytimes.com/2012/07/19/u...omic-fears-undercutting-obama-support.html?hp

Obama, Romney in dead heat in presidential race - Political Hotsheet - CBS News
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Romney will cave and release more.
He has started getting pressure from the GOP to release.

What issue has Romney ever stuck to his guns?

Romney = Kerry

Northeast elitist flip flopper.
 
#163
#163
GAVol said:
The thing is, in my mind that would be a sign of intelligence.
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Right, but it's a little hypocritical for someone to speak about tax reform, when he's been benefiting from tax loopholes for years. Looks a little disingenuous.
 
#164
#164
Gramps said:
Romney will cave and release more.
He has started getting pressure from the GOP to release.

What issue has Romney ever stuck to his guns?

Romney = Kerry

Northeast elitist flip flopper.
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probably true, but I can't see any reason why I would vote for Obama at this point. He had 4 years not impressed at all.
 
#165
#165
WA_Vol said:
Right, but it's a little hypocritical for someone to speak about tax reform, when he's been benefiting from tax loopholes for years. Looks a little disingenuous.
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Nobody *****es when Buffett does it and he's the biggest of the beneficiaries.
 
#167
#167
Gramps said:
Romney will cave and release more.
He has started getting pressure from the GOP to release.

What issue has Romney ever stuck to his guns?

Romney = Kerry

Northeast elitist flip flopper.
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If, by Northeast, you mean the Midwest, then yes. If you're pretending there are any pols who aren't flip floppers, then no.
 
#168
#168
BigPapaVol said:
If, by Northeast, you mean the Midwest, then yes. If you're pretending there are any pols who aren't flip floppers, then no.
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Romney list his residence as being in MA.
Last time I looked at a map MA is located in the Northeastern part of the United States.
 
#169
#169
WA_Vol said:
Right, but it's a little hypocritical for someone to speak about tax reform, when he's been benefiting from tax loopholes for years. Looks a little disingenuous.
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The word loophole is one of the most overused words in the English language. What it typically means is "a caveat or strategy that I resent because I either haven't thought of it yet or don't have the means to take advantage of".
 
#170
#170
Gramps said:
Romney list his residence as being in MA.
Last time I looked at a map MA is located in the Northeastern part of the United States.
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I have lived in many addresses, including MA and NY, but I'm still a Tennessean though I haven't lived there in over 20 years.
 
#172
#172
GAVol said:
The word loophole is one of the most overused words in the English language. What it typically means is "a caveat or strategy that I resent because I either haven't thought of it yet or don't have the means to take advantage of".
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Most Americans would like to see a simplified tax code with loopholes removed, a large % would like to see a flat tax. It's not helping Romney's image IMO.
 
#173
#173
WA_Vol said:
Most Americans would like to see a simplified tax code with loopholes removed, a large % would like to see a flat tax. It's not helping Romney's image IMO.
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I get what youre saying, but can his image really be rehabilitated though among those that envy people with money?
 
#174
#174
GAVol said:
I get what youre saying, but can his image really be rehabilitated though among those that envy people with money?
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I don't really understand that. Because in my mind, his intelligence exemplified by the wealth he accumulated, is his main selling point.

Problem is not the guy I would want redoing the tax code, though. He's been a great benefector from the current code. Hard to believe he'd reform it.

Then on the other hand, you have Obama who hasnt even addressed the issue after 4 years in office.
 
#175
#175
I don't think the next guy is going to have any choice but to reform either entitlements or the tax code or both.
 
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