Mitt Romney Avoids Taxes for Fifteen Years

[Jaguar]

That would all be very important if the fund was actually producing any investment income. The advantage of deferral of taxation on investment income is that it allows you to accrue a bit more compound interest before you realize the gain and pay the taxes. This is obviously irrelevant if you aren't accruing any interest at all.

This fund is chump change to Mitt Romney, and the laws governing it are now out of date. Obviously he let it go to cash because it's simply not worth dealing with anymore.


*Side note: when you actually have a real job, be aware that dividend-paying stocks or ETFs are best reserved for tax-advantaged accounts, like your 401k. You can't defer taxes on dividends otherwise. Capital gains can be deferred until the sale of the asset, which means that growth stocks are a little bit better for accounts that are not tax-advantaged. If you invest with Vanguard or a similar manager, they can do this deferral optimization for you.

**Further side note: if this sounds absurdly complex, that's because capital gains taxes are an incoherent concept in the first place.

[Bugs ****ing Bunny]

The wrong part of the quote was highlighted. This is the bit that should have been-

Nevertheless, “what’s going to go to charity is probably close to nothing,” Hesch said.

It's not illegal. But hey! You can act entirely within the letter of the law and still...

A- Go to hell, if the god-botherers prove to be correct.

B- Be widely considered to be a ****.

[-Jrabbit]

When you hide something, it's hard not to look like you're hiding something.
If Romney had released his taxes, this discussion would have been over and done with months ago.

[Aeson]

Why does Romney not believe in American businesses enough to invest the money in them (or at least an index fund)? Why did Romney set up a financial instrument that seemingly saved him less in taxes than it would cost to set up? Why is Romney hording cash?

I'm beginning to think Romney's plan for the economy is to build a large tower full of gold to swim in. (Incidently, this is what donating to the LDS Church also does. Though in that case they don't really let you swim around in the large tower full of gold. You just get baptized for the dead in the ivory font there.)

[Asher]

True patriots exploit loopholes to not fund the government they use.

[Hauldren Collider]

Yep, like going to college and buying a house.

[Asher]

That's exactly comparable!

[MrFun]

When you hide something, it's hard not to look like you're hiding something.
If Romney had released his taxes, this discussion would have been over and done with months ago.

Exactly. Romney has brought up all these accusations, guessing, speculation, and attacks on himself.

[MrFun]

True patriots exploit loopholes to not fund the government they use.

But remember, Romney/Ryan campaign slogan is, "Believe in America."

[Alexander's Horse]

When you hide something, it's hard not to look like you're hiding something.
If Romney had released his taxes, this discussion would have been over and done with months ago.

Exactly and so would his presidential campaign. How Americans can vote for people like this arsehole I'll never know.


*crazed rant for the day*

[Uncle Sparky]

Do bishops need to pay taxes in the US?

[Alexander's Horse]

Bishops get paid in choir boys you ninny

The Bush family don't probably pay taxes either

[dannubis]

nvm