Mitt Romney Made Over $25 Million In Foreign Income While Governing, Campaigning

[maddezmom]

Source: Huff Post

WASHINGTON -- Mitt Romney accumulated more than $25 million in foreign income between 2005 and 2010, while he was governor of Massachusetts and a presidential candidate, according to an analysis of his 2010 tax return.

The 2010 return lists foreign tax payments Romney made dating back to 2000. By Romney standards, the payments were modest through 2004, averaging $37,000 a year. In 2005, however, his foreign tax bill shot up to $333,149 and stayed high for the next three years, before dipping in 2009, as the financial crisis hit hard.

In 2010, Romney's foreign tax bill was down to $67,173 on declared foreign income of $1,525,982. That's a 4.4 percent rate. After expenses and various other deductions, Romney declared a net foreign income of $392,000, making his net tax rate 17 percent.

Because the presumptive GOP presidential nominee has so far declined to release his earlier tax returns, HuffPost made a rough calculation of his prior foreign earnings by assuming he paid similar tax rates in previous years.


Read more: http://www.huffingtonpost.com/2012/07/23/mitt-romney-foreign-income_n_1695806.html?utm_hp_ref=elections-2012

[JDPriestly]

1. What a loyal American. NOT!!

[wordpix]

2. "an account established by a U.S. firm to allow foreign investors to invest in U.S. enterprises..."

"an account established by a U.S. firm to allow foreign investors to invest in U.S. enterprises and not be subject to taxes outside of their own jurisdiction."

So Rmoney set up the account for only FOREIGN investors to not be subjected to US taxes? Are you sure about that, Mittie?

[valerief]

3. Making all that money, I can see why he needs to deduct $70K for horse proms.

He'd be homeless without all his tax deductions.

I'm sure that's not all the money he made either.

[Berlum]

4. Willard has the Republican SlazeBAG thing down to a science

No doubt Willard & his Republican cronies will go all OCCULT on this anti-American scuzzbucketry -- as they do on all their stanky schemes...

http://1.bp.blogspot.com/-CfP2dtjCx-c/UAGX0WqeXpI/AAAAAAAADm0/nL6aeNHgwhI/s1600/Romney+quest+1.jpg

[lumberjack_jeff]

5. Who did he work for?

not you!

[bulloney]

6. This thing isn't an indictment on Romney, but one against the obscenely low rates paid by 1%ers.

We keep taking our eye off the target and get all worked up about how much these people make. We should be up in arms over the fact they pay a puny percentage of their incomes while using the infrastructure that enables them to make their money.

[muriel_volestrangler]

7. I love the "Tony Soprano Explains Bain Capital" video at the end (nt)

[XenoRed]

8. Creating Wealth.

What's wrong with creating wealth? It's better than making a career out of spending other peoples money (our tax dollars). At least he knows how to balance a check book, invest wisely and make payroll, something the seems to elude most politicians.