• Sprott Money
    04/29/2016 - 05:58
    There is unfortunately no basis for renewed optimism that this current litigation will have any meaningful impact on precious metals manipulation – with respect to either silver or gold.

Mitt Romney Releases 2011 Tax Filing

Tyler Durden's picture




 

Everyone has been desperately waiting for this. At 3:00 pm it will be publicly released. Hopefully, shortly thereafter we can proceed with the discussion of important things such as the complete economic collapse of not only America, but the entire world (which is apparently now hooked into voting for Obama as disclosed earlier). For those strapped for time here is the summary: Romneys 2011 tax rate 14.1%, Charity donations: 30%; Obamas tax rate: 20.5%, Charity donations: 22%. And going back, "Over the entire 20-year period, the average annual effective federal tax rate was 20.20%."

From Romney's website:

This morning, Gov. and Mrs. Romney filed their 2011 tax return with the IRS. At 3:00pm today, the Romney for President campaign will be posting the 2011 return online.

The complete 2011 tax return, with full schedules, statements, and attachments, will be made available with all other previously-disclosed information at www.mittromney.com/disclosure.

Also posted will be a notarized letter from the Romneys’ tax preparer, PricewaterhouseCoopers, LLP (PWC), giving a summary of tax rates from the Romneys’ tax returns for the 20-year period of 1990-2009.

In advance of the posting of these new documents, I wanted to provide some top-line details.

Regarding the newly-filed 2011 Tax Return:

  • In 2011, the Romneys paid $1,935,708 in taxes on $13,696,951 in mostly investment income.
  • The Romneys’ effective tax rate for 2011 was 14.1%.
  • The Romneys donated $4,020,772 to charity in 2011, amounting to nearly 30% of their income.
  • The Romneys claimed a deduction for $2.25 million of those charitable contributions.
  • The Romneys’ generous charitable donations in 2011 would have significantly reduced their tax obligation for the year. The Romneys thus limited their deduction of charitable contributions to conform to the Governor's statement in August, based upon the January estimate of income, that he paid at least 13% in income taxes in each of the last 10 years.

As with the 2010 tax return, the 2011 tax return will appear as four separate documents. It includes Governor and Mrs. Romney's Form 1040 as well as three underlying Massachusetts trusts detailing the sources of their income. Those are The W. Mitt Romney Blind Trust, The Ann D. Romney Blind Trust, and The Romney Family Trust.

The investments within the trusts are managed on a blind basis by me, the trustee. I have sole responsibility for making, holding and disposing of the investments.

Regarding the PWC letter covering the Romneys’ tax filings over 20 years, from 1990 – 2009:

  • In each year during the entire 20-year period, the Romneys owed both state and federal income taxes.
  • Over the entire 20-year period, the average annual effective federal tax rate was 20.20%.
  • Over the entire 20-year period, the lowest annual effective federal personal tax rate was 13.66%.
  • Over the entire 20-year period, the Romneys gave to charity an average of 13.45% of their adjusted gross income.
  • Over the entire 20-year period, the total federal and state taxes owed plus the total charitable donations deducted represented 38.49% of total AGI.

During the 20-year period covered by the PWC letter, Gov. and Mrs. Romney paid 100 percent of the taxes that they owed.

Finally, in addition to new documents related to tax filings, the campaign will also be posting on the same website physician letters for both Gov. Romney and Rep. Ryan, making public their current state of health.

After you have reviewed all of the newly-posted documents, you may have further questions. The campaign asks that you direct them to an e-mail account set up for that purpose. That e-mail address is returns @ mittromney.com.

 

Mitt Romney 2011 release:

 

Paul Ryan 2011 release:

 

0
Your rating: None
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Fri, 09/21/2012 - 13:49 | 2818642 Jim in MN
Jim in MN's picture

Well a Bishop's gotta support his Church, Bitchez!

Fri, 09/21/2012 - 13:54 | 2818661 Precious
Precious's picture

You didn't Geithner those taxes.

Fri, 09/21/2012 - 14:34 | 2818837 johnjkiii
johnjkiii's picture

Nah, they were Lewinski'd.

Fri, 09/21/2012 - 18:58 | 2819513 nmewn
nmewn's picture

Harry Reid...the smallest man in the universe right about now.

Sat, 09/22/2012 - 11:01 | 2820170 derek_vineyard
derek_vineyard's picture

why didnt he amend his return for several years and pay 50% (using campaign contributions) and use against obama (to whom the betting odds say is a shoe in for reelection).

romney better get desperate or he will lose.

Sat, 09/22/2012 - 12:29 | 2820342 DosZap
DosZap's picture

Obama's poll #'s are skewed to hell.

He is going to lose.

The stats they are using are only taking into account the pattern for '08.

There is / was a study done by a  well known College group, using all the variables, and (they have predicted the winner EVERYTIME,they have done it), and they concluded Romney-ulus will win,walking away.

Undecideds ALWAYS go with the challenger,and this time the out of work,no chance in hell of getting a decent one, the youth vote damn sure won't be with O.

The historical election of a semi Black, is now History.

Based on job perfomance and the economy, his grade is an "F".

Either way, Romney is inheriting Barry's tenure this time, and HIS results.A deathbed hospice watch.

The time for blaming Bush for aids/HimRoids/Swine Flu/Ebola,etc is over.

 

Sat, 09/22/2012 - 23:07 | 2821290 derek_vineyard
derek_vineyard's picture

dude

 

go to odds checker and see the actual real money betting lines from larger bookmakers

obama is prohibitive favorite

Sun, 09/23/2012 - 08:36 | 2821757 Papasmurf
Papasmurf's picture

Intrade.com has Obama at 70.9% chance. 

Fri, 09/21/2012 - 13:56 | 2818666 kaiserhoff
kaiserhoff's picture

Fair Enough.  So where is the Jew York Media interest in our Undocumented POTUS??????

How about a fraudulent social security number, from Connecticut of all places, for openers?

Fri, 09/21/2012 - 13:57 | 2818670 Precious
Precious's picture

Hey.  Americans simply wanted to elect the first Kenyan president.  Why not. 

Fri, 09/21/2012 - 14:13 | 2818715 Azannoth
Fri, 09/21/2012 - 14:38 | 2818793 greyghost
greyghost's picture

well i have said this many times...twiddle dee and twiddle dumb will say and do more idiotic things. these two turds have no clue about anything more than 2 feet from their faces. the only thing going for the baininite twins is that romney's idiotic statements has taken the spot light of paul ryan and his idiotic thirty year budget.

Fri, 09/21/2012 - 15:13 | 2818992 yochananmichael
yochananmichael's picture

The New York Nazi Times is now owned by a goy. yeah pinchie is one of you.

Fri, 09/21/2012 - 13:57 | 2818668 neptunium
neptunium's picture

<----- Vaginal Douche

<----- Turd Sandwich

Fri, 09/21/2012 - 14:10 | 2818732 Flakmeister
Flakmeister's picture

How do I select "All of the Above"?

Fri, 09/21/2012 - 14:21 | 2818789 Yes_Questions
Yes_Questions's picture

 

 

Yeah, somehow Vaginal Sandwich takes us somewhere else and Turd Douche somewhere else entirely again.

 

 

Fri, 09/21/2012 - 15:45 | 2819089 iDealMeat
iDealMeat's picture

+1..  I love ZH on Friday's

Fri, 09/21/2012 - 16:14 | 2819158 pods
pods's picture

I thought the vaginal sandwich was akin to riding the tricycle?

pods

Fri, 09/21/2012 - 14:50 | 2818918 Leto II
Leto II's picture

Robamney/Ryden 2012!!!

Fri, 09/21/2012 - 13:58 | 2818672 HelluvaEngineer
HelluvaEngineer's picture

So, which SSN did Obama use on his returns?

Fri, 09/21/2012 - 14:16 | 2818765 hannah
hannah's picture

hard to believe that we have a president that can pass a law that locks up all his 'history' and we have no real method of verifying whether elected officials are elligibile for office. we truely have screwed the pooch.

Fri, 09/21/2012 - 14:32 | 2818830 BKbroiler
BKbroiler's picture

maybe you screwed a pooch.  I didn't screw a pooch.  weirdo.

Fri, 09/21/2012 - 15:14 | 2818996 pods
pods's picture

No shit. Sicko.

Wait, pooch isn't a nickname for sheep is it?

pods

Fri, 09/21/2012 - 15:50 | 2819107 pods
pods's picture

So that is what is causing the distress?

Here I was thinking it was the Ether Bunny.

http://www.urbandictionary.com/define.php?term=ether%20bunny

pods

Fri, 09/21/2012 - 21:24 | 2819709 Papasmurf
Papasmurf's picture

Usually the pooch screws the BKbroiler.

Fri, 09/21/2012 - 14:34 | 2818843 kaiserhoff
kaiserhoff's picture

Hard to believe he couldn't get a security clearance to guard toilet paper on a military base, but he could start a nuclear war.

Even harder to believe the COMPLETE MAINSTREAM MEDIA BLACKOUT on all aspects of his, er, bio, such as it is.

Fri, 09/21/2012 - 14:37 | 2818855 ejmoosa
ejmoosa's picture

Fear not.   His puppet masters are still pulling his strings.....

Fri, 09/21/2012 - 14:53 | 2818927 BooMushroom
BooMushroom's picture

Did we screw the pooch before or after Obama ate the pooch?

Fri, 09/21/2012 - 15:47 | 2819098 Ruffcut
Ruffcut's picture

In 2007 obiden made over 300k and gave like 300 bucks to charity. He should be president then. At least he shows his true color.

Fri, 09/21/2012 - 17:15 | 2819329 OpenThePodBayDoorHAL
OpenThePodBayDoorHAL's picture

In the 2008 campaign Mitt released all his returns, no problem. Then radio silence about 2009 and 2010; now he releases 2011.

My guess is he was caught in the 2009 IRS amnesty program for tax cheats in Switzerland and Caymans. Paid a big fine to avoid prosecution. The only criminals we like to elect are the unprosecuted ones so Mitt bit the bullet and paid up to avoid a perp walk.

It will come out in 2013 and be buried on page 27, you watch.

Fri, 09/21/2012 - 15:49 | 2819104 Ned Zeppelin
Ned Zeppelin's picture

Exhibit A for one tax rate on all income, whether investment or earned.  The distinction is bullshit.  Lower the rate, expand the base.

Sat, 09/22/2012 - 12:18 | 2820323 DosZap
DosZap's picture

Well a Bishop's gotta support his Church, Bitchez!

Just to be fair on this staement(which os tue), the numbers for his and her donations, did not ALL by any means go, or were limited to the LDC church.

Jus sayin'......................

( Not a Mormon here.

Fri, 09/21/2012 - 13:51 | 2818649 Pairadimes
Pairadimes's picture

Doesn't look to me like he made enough mistakes on his taxes to qualify for government service.

Fri, 09/21/2012 - 14:09 | 2818727 Hippocratic Oaf
Hippocratic Oaf's picture

Ha.........true dat

The left will want more.

 

Yaaaaaawwwwwwwnnnn

Fri, 09/21/2012 - 13:53 | 2818655 Manthong
Manthong's picture

Certainly, Obama, the spread the wealth around choommander -in-chief,  donated at least 30% of his income to charity, right?

Fri, 09/21/2012 - 14:51 | 2818923 sdmjake
sdmjake's picture

He didn't. As a matter of fact Romney's charitable contributions last year probably exceed all the charity Obama has, or ever will, personally give away. This is not an endorsement of the POS romney but Obama (like most democrats) doesn't givce jack sh*t to charity.

Fri, 09/21/2012 - 15:47 | 2819099 Ned Zeppelin
Ned Zeppelin's picture

When you are starting with income from investments of over $13MM before gifts it's not hard to give away a shitload of money  (the bulk of which went to his church - it's not like he gave it away to a REAL charity, by the way) and still have two shitloads left.

Fri, 09/21/2012 - 20:22 | 2819642 TWSceptic
TWSceptic's picture

Churches actually help a lot of hungry people, poor families / children etc. I say that as an atheist in case you wonder.

Sat, 09/22/2012 - 10:49 | 2820152 kaiserhoff
kaiserhoff's picture

Agreed, I worship Bacchus, and the Salvation Army is a bunch of plump wierdos, but they do more with less than the gubbermint.

Fri, 09/21/2012 - 16:08 | 2819136 Thecomingcollapse
Thecomingcollapse's picture

I Green arrow you alot... if for nothing else but liking to look at that ass

Fri, 09/21/2012 - 13:54 | 2818657 Yen Cross
Yen Cross's picture

 I wonder how many "BLACK" felt tip markers they went through?

Fri, 09/21/2012 - 15:02 | 2818952 alien-IQ
alien-IQ's picture

That's ok...they were tax deductible.

Fri, 09/21/2012 - 13:54 | 2818658 Glasgow Gary
Glasgow Gary's picture

This no longer matters. Anyone on the smart side of the bell curve has already moved on to pricing in policy outcomes in Obama's 2nd term, as the GOP comes to the negotiating table. Fuck Mitt Romney. What matters now are the directions of gold, forex, US exports (growth or decline), and oil prices. Compared to what's coming in China's economy and mid-East tensions, the failed career of Mitt Romney is like a tiny speck. By Christmas, you will no longer hear of Mitt Romney.

 

GG

Fri, 09/21/2012 - 14:28 | 2818821 Manthong
Manthong's picture

Mr. Diebold probably agrees with you.

Fri, 09/21/2012 - 15:27 | 2819035 duo
duo's picture

at least the unelectable puppet won't be on the ticket again.  He was probably the only person that could have handed a second term to Obama.

At least I know I will never donate to the Republican party again.

Fri, 09/21/2012 - 15:27 | 2819037 duo
duo's picture

at least the unelectable puppet won't be on the ticket again.  He was probably the only person that could have handed a second term to Obama.

When the RNC calls and asks for money now, I instantly hang up.

Fri, 09/21/2012 - 19:30 | 2819568 Moe Howard
Moe Howard's picture

You don't give a speech about Ron Paul until they hang up? That's what I do.

Fri, 09/21/2012 - 21:31 | 2819718 Papasmurf
Papasmurf's picture

I play them "Call me Maybe" by Carly Rae Jepsen until they hand up.

Do NOT follow this link or you will be banned from the site!