“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. :(
The Mormon Church is not a charity. Churches, in general, are not charities. There are some churches that pursue charitable activities, but I don't understand why churches get tax-exempt status as charities. Ugh.
I remember looking up Romney's tax rate and realizing that his tax rate was about the same or a little bit less than my tax rate last year.
I keep seeing posts (on FB) that say something like this, "I'm not mad about how Romney spends HIS money, I'm pissed about how Obama spends MY money". And I get so angry- because they are missing the point. I don't car how Romney spends his money. I don't care how many houses, cars or dancing horses he has. But I do care about him not paying his fair share in taxes. I care that he takes advantage of crap loopholes like this, and that he hides some of his money in offshore accounts. I am angry that he can legally move his money around so that his tax rate is lower than mine. THAT is what I am angry about!
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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 remember looking up Romney's tax rate and realizing that his tax rate was about the same or a little bit less than my tax rate last year.
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