“The main benefit from a charitable remainder trust is the renting from your favorite charity of its exemption from taxation"
The fact that this process is legal is unconscionable, when people use it as he has done. Sounds like some laws need to be revised.
I'm still struck by the fact that this guy dares to call anyone else a freeloader. Avoiding taxes and living off of interest income? You can't be much more of a freeloader than that. :(
The loophole was closed in 1997 and existing accounts were grandfathered in; Romney set up his account in 1996. Can't do anything about Romney, but at least no one new can open this type of account.
That's right, it mentioned that the law had been changed. I must be distracted today.
Well, I can certainly see why he didn't want to release his last 10 years worth of tax returns. The truth would piss people off, even those clueless folks he'd happily destroy who think he's really not so bad. :(
Very easy to slide past a few details when the article is long like this. :)
I doubt that this would be damaging enough to keep Romney from releasing his returns. It may not make some people happy, but it's legal. Keep in mind McCain was seriously considering Romney as a running mate in '08 but dropped him after seeing Romney's tax returns. Whatever it is Romney is hiding must be pretty poisonous.
Personally, I suspect it may have something to do with Romney having 100 million in his IRA, which is probably indicative of fraud, insider trading, stock manipulation, or some combination thereof. It's also possible there may be ties to drug cartel money from back when Romney was trying to get financial backing for Bain. Or it may be that Romney held a key role at Bain long, long after he says he did or it could have to do with how he uses all his offshore accounts. Kind of an endless list, really.
The fact that this process is legal is unconscionable, when people use it as he has done. Sounds like some laws need to be revised.
I'm still struck by the fact that this guy dares to call anyone else a freeloader. Avoiding taxes and living off of interest income? You can't be much more of a freeloader than that. :(
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Well, I can certainly see why he didn't want to release his last 10 years worth of tax returns. The truth would piss people off, even those clueless folks he'd happily destroy who think he's really not so bad. :(
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I doubt that this would be damaging enough to keep Romney from releasing his returns. It may not make some people happy, but it's legal. Keep in mind McCain was seriously considering Romney as a running mate in '08 but dropped him after seeing Romney's tax returns. Whatever it is Romney is hiding must be pretty poisonous.
Personally, I suspect it may have something to do with Romney having 100 million in his IRA, which is probably indicative of fraud, insider trading, stock manipulation, or some combination thereof. It's also possible there may be ties to drug cartel money from back when Romney was trying to get financial backing for Bain. Or it may be that Romney held a key role at Bain long, long after he says he did or it could have to do with how he uses all his offshore accounts. Kind of an endless list, really.
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