Seriously, Ryan and Romney cheat on their taxes like I breathe.
Paul Ryan admitted last night in the Friday news dump that he had “overlooked” 20% of his income when he filed his 2011 taxes. The income source was his mother-in-law’s living trust.
And that’s totally believable. I mean, who among us hasn’t forgotten $61,122 that Mom left us?
Back to what Anne-Laurie said in the last post–these guys can’t control the news cycle. This level of incompetence at trying to get the job does not bode well for their potential performance in the job.
These fuckers have nothing but contempt for you and the people important to you. They don’t even bother to even try to appear to hide that contempt either.
$53K by midnight tonight. Run up the score.
scav
Oh! look what’s under the couch cushions!
c u n d gulag
My mother was stuffing her money in MY mattress?
Who knew?
cathyx
They lie about everything. Including taxes. If you examine their lives, you’ll see that they probably cheat on their wives and ‘forget’ to leave a tip.
Anibundel
It’s sort of controlling the news cycle. They Friday night news dumped it on a week where weekend shows will still be focusing on the bombshell 47% story and replaying those tapes for the 53rd time. (See:Uppers.)
cathyx
Give the guy a break, this happened to me too. Once I was applying for a mortgage and I forgot to list that I had a student loan that I was paying off at $100 a month. And I still had 1 more year to pay on that loan. I was embarrassed that I forgot it.
cmorenc
Paul Ryan is trying to channel Steve Martin’s famous: “well EXCUUUUUUUUUSE ME!”
MattF
And so, the ‘Honorable’ Mr. Ryan… everybody likes him, he’s so earnest and handsome and persuasive… is a con artist. Ooopsie whooopsie, what a surprise. This probably means we’re going to start seeing :-( from him instead of :-). So sad, so terrible.
Josie
@cmorenc: Or, his advice on what to say when you are caught not paying your taxes – “I FORGOT!”
ETA: Seriously, it’s always been one of my favorite lines, along
with “Get that cat out of here!”
RSA
US News remembers that when Romney released his preliminary 2011 return in January of 2012, his income for 2011 was $20.9 million. And yet in the final return, it’s $13.7 million. That shaved more than a million off his taxes. It’s not illegal, of course, which is the point. Rich people seem to be able to manipulate their taxes with arbitrary flexibility, unlike most people.
geg6
@Anibundel:
And Bubba is supposed to be carpet bombing the Sunday shows.
Piling on. Love it.
danielx
@MattF:
Paul Ryan a con artist?
Who knew?
If I was Ryan, I’d be looking for a new CPA – giving him the benefit of the doubt that someone else did his taxes. But if he does his own taxes in his abundant spare time – forgetting about a family trust? Hey, could happen to anybody.
I also believe the moon is made of extremely edible green cheese.
Schlemizel
2 things the Dems should bring up when discussing the Marquis’ 2011 tax return.
He specifically under-claimed to get the rate he wanted – are we to believe he did that every year in the past? Because if he claimed every penny (and he has repeatedly stated he only pays the minimum required by law) then his effective rate would have been 9%, Isn’t it more likely he pays closer to 9% then the 14 he now claims is pretty average?
AND – the important one
Mr. Rmoney s now free to file an amended return, claim that extra and get money back.
Nethead Jay
Oops, bet they hoped that would go unnoticed in the midst of all the other stuff.
Unrelated: Soonergrunt, did you catch Maddow’s final segment last night? It’s about the reaction to their story about the Veterans Job Corps/American Jobs Act senate vote failure from a couple of days ago. Thought you’d be interested.
red dog
maybe Bain and Ryan & Mom would like o invest in a certain infamous bridge.
Soonergrunt
@danielx: Just more reason to know it’s bullshit.
I know, within $1000 how much money my wife and I made last year, and from what sources. I know this because I have to know, so I can plan things like vacations, the new car we’re going to buy, how much to put aside for the Soonerkids’ college funds, and so on.
Most people live like this, more or less to that level of specificity because we have to.
Even if Ryan is 100% innocent here–something I don’t believe for a second–he has NOTHING in common with me, and doesn’t understand or care about my life or the lives of anyone I know.
mai naem
This has to be the only time Paul Ryan has not exaggerated a number to make himself look good.
PeakVT
I hope Dems in competitive districts are doing all they can to tie their opponents to the sinking ship that is the RYAN/romney ticket.
geg6
@RSA:
That is what is infuriating so many people. You and I always knew this, but many people did not realize how much the very rich are able to game the system.
I make very little for my level of education and experience. I am single and never had kids. I don’t own a home. I have only ever filed a more complicated tax return than a 1040EZ once and that’s because my mother died and I had to report that teeny tiny inheritance on a 1040A. I pay a higher rate on my federal income taxes than Mittens does (and that’s not even getting into my payroll taxes, state and local taxes and leaving out the fuel taxes and state sales taxes). People are just realizing that capital gains are not considered income and are taxed at a ridiculously low rate and that, because of that, we actually don’t have a progressive tax system. In fact, overall, we have a terribly regressive tax system. Between the regressive tax system and the income gap and the stagnation (if not declining, as I believe it is) in class mobility, it’s finally dawning on people who have accepted the GOP framing for forty years that they’ve been had.
This is, in the end, a good thing. I’ve waited a looooooong time for this realization to hit.
And now the great Charlie Pierce is on UP. Gotta watch.
Buckeyevoter
Since $60,000 was income from a trust, not the whole trust itself, it means Ryan forgot about the over $1,000,000 trust his mother left him!
Scout211
That was his mother-in-law’s trust, not his mother’s. Not that it makes a difference with the point of your post. But his mother is alive and recently appeared at a campaign speech.
Lolis
@Schlemizel:
Excellent points.
scav
These’s also just the simple incompetence of it — hire the duo that built the team that oppsie loses 20% of income? Bad optics, especially for the so-called fiscally sound, economic grownup and magical CEO team.
The trust-fund baby gracenote is another tasty bonus.
beltane
On today’s campaign schedule I noticed that Paul Ryan will be appearing at the Versailles restaurant in Orlando, FL. The jokes really do write themselves don’t they.
aimai
@danielx:
Isn’t his wife a tax lawyer?
aimai
chopper
I’m shocked – shocked! That there’s 60 grand in cash in my freezer! Where the hell did this come from?!
Soonergrunt
@Scout211: Fixed. Thanks!
MattF
@chopper: … and the heads of three goats. How the heck did they get there?
Linda Featheringill
What the hey? What is with these guys? I had to look up a living trust to find out what it meant, which tells you about my socioeconomic class.
The amazing thing is that my peers, even the non-nice people, know that you don’t mess with the IRS. They are the Big Guys and they have the power to enforce their directives. A good portion of us do our own taxes and mistakes are made, but they are then corrected and we go on.
Do you get so rich that you think you can play games with the IRS? Or do you get so powerful from money and politics that you think you can lie on your taxes? I don’t understand.
dmsilev
Also, bear in mind that Ryan forgot $60K of *income* from his mother in law’s trust. Which means that said trust probably has assets of a million or two dollars. Who among us *hasn’t* forgotten about a million bucks that we just happened to have in the bank?
piratedan
maybe because cheating on your spouse was so “last election cycle”?
Shawn in ShowMe
@beltane:
Paul Ryan acts like a psychopath. That’s a great quality to have when you’re appealing to totalitarian fanboys. He doesn’t let a little thing like being booed off the stage by folks he intends to starve throw him off message. He’s going to keep coming and coming until he gets what he wants.
The notion that Ryan will be somehow relegated to back bench status because of this cycle’s lying spree is just wishful thinking. America’s political memory isn’t that long. He’s still a young guy.
f space that
@Linda Featheringill: He likely would have been caught eventually. It takes a while for the IRS to catch up with under reported income. But, if you can forget about $60k in income then you probably don’t need it. More proof that the rich need to have their taxes raised.
Also, Paul Ryan is a lying sleazebag.
scav
$60k is a decent middle-class total income for how many of us? Somebody loves us. What’s the obvious line? If this was in a play, it would be written out as too improbable.
grandpa john
@Linda Featheringill: Yes if you are rich enough and connected enough you can do it.If caught just say oops and file an amended return
Gin & Tonic
@dmsilev: I forgot about $20 I left in a jacket pocket one time.
cathyx
@Gin & Tonic: See? Everybody does it.
Gin & Tonic
@aimai: Great catch. Yes, she is. See item 7 there.
GWU Law School, too.
I’m sure she’s busy, though, and just overlooked this.
forked tongue
You know, it’s pretty standard practice for the administrators of a trust to send a year-end tax information letter to the beneficiary. This is mainly to assist in the preparation of taxes, but it also serves to remind you, if you forgot, that you have this trust income to report, Duh!
Brother Shotgun of Sweet Reason
@forked tongue: So, I’m guessing Mr. Ryan doesn’t balance his own checkbook? ‘Cause, if he did, he’d see this big chunk of income and he’d have to wonder where it came from.
And if he’s not balancing his checkbook and wondering about that unknown income, then he’s in a situation where he doesn’t have to worry what he’s spending, because there’s plenty to cover anything he might spend. And he’ll just write checks without worrying about getting overdrawn.
To which I say “Fuck you, asshole.”
WereBear
“Forgot” 60K incoming?
These are people who sentence a bunch of poor kids to no school lunches, just to save a few thousand on their taxes.
The rich know every penny. Surprisingly enough, they are also not generous.
smintheus
I would say that if your VP candidate has to fess up to cheating on his taxes, and the national media is ignoring it because they’re distracted by some silly notarized story about what some guy claims the P candidate paid, then you have in fact controlled a news cycle. Ryan’s tax cheating should have been the end of either Ryan or, if he wasn’t dumped from the ticket, Romney/Ryan. Instead it’s a hiccup in the wilderness.
RaflW
Took a quick look at an LA Times article about Ryan’s returns written back in August. Looks like he and his wife gave about 4% of their income in charitable donations in ’11. Which I think is around the national average.
The year before they only donated about 1.2% of their income to charity.
We hear all the time from conservatives that charity is the way to help those in need, not ‘redistribution.’ Alright then.
In 2010, when Ryan wouldn’t have thought anyone was looking, he donated a rather meager one percent of income.
As the good Catholic he asserts himself to be, how’s that square up? And if conservatives think voluntary extra to the IRS (Mitt excepted, now, I guess) being ridiculed, isn’t a compassionate conservative to give more that chicken feed to his community thru charity?
It’s all hucksterism. They don’t do what they preach (surprise!). I suppose charity is for suckers. In fact, studies show that low income people give much more generously as a % of income.
Which doesn’t make them suckers, it makes them good, kind, caring people. A rich person could learn from that.
Yutsano
@f space that: Actually, they’re getting a lot faster. Social Security is getting their income reports to the IRS almost right around April 15th (in 2011 we had them starting early May) and the Automated Underreporter unit was sending out notices as fast as they could analyse the income. Paulie Boy is gonna have a nice hefty tax bill now because he’ll also be facing interest and most likely an accuracy-related penalty.
Roger Moore
@mai naem:
I think this falls into the same category of underestimating his marathon time by over an hour. He things that a lower income would look better, so he “forgot” about part of his income. He thought a lower marathon time would be more impressive, so he “forgot” about one of the hours he spent running it.
JasperL
@aimai:
That’s what is surprising. As the lawyer/beneficiary she should remember the trust. Were it not for that I’d give them a break. The assets are probably in a brokerage account and it’s entirely possible they didn’t actually receive a dime of income, it’s just what the investments earned, and were reinvested. Expenses might have zeroed out the income in 2010, so this could easily be the first year the trust itself had net income to report. It’s a pretty easy mistake for the return preparer to make – I do taxes for a living and I’ve done it – except for that beneficiary=lawyer thing.
Roger Moore
@Brother Shotgun of Sweet Reason:
Also, too, there are lobbyists to buy him $350 bottles of wine when he wants to go to expensive restaurants. Who needs income when people are willing to give you anything you want as a present?
SRW1
Can you imagine how pissed Romney would have been at Ryan had it not been for Romney’s own Taxocalypse Friday?
“You gave the news cycle away for what, Paul? $61k! For pete’s sake, Paul, that’s peanuts!”
catclub
@cathyx: 1. Now is a good time to remember Tim Geithner and his tax problems.
2. If your parents have fronted you money for your home mortgage downpayment, but you expect to pay them back (it is not officially a gift)
then if you do not declare it as such on your mortgage, that is mortgage fraud. Virtually everyone in the middle class has probably done this.
catclub
@Linda Featheringill: search for something like son-of-marriott. Tax avoidance scheme with the name of wealthy mormons and which Mitt Romney may or may not have done. Once you have enough lawyers to go toe-to-toe with the IRS, things start looking different.
Randy P
Here in the land of ordinary mortals, don’t you get 1099’s for income like that? That are also filed with the IRS? So wouldn’t they notice?
Edit: Oh, I see. It’s his 2011 taxes. So he probably did just get one of those cheerful little notices from the IRS.
Gindy51
@cathyx: You were applying for a mortgage and forgot $100. He is applying to be Vice President of the United States and forgot over $60K. HUGE difference there, hon.
The Fat Kate Middleton
@aimai: Yup. From biography.com:
“(Janna) Ryan, a tax specialist, is now a stay-at-home mother.”
El Cid
This is the prick who shows up at the AARP meeting either not knowing or not caring or maybe both that the AARP endorsed ‘Obamacare’ and focusing your speech on denouncing it.
Chris T.
I forgot $600 once (out of roughly $30k, or 2%). When the IRS came after me a few years later and I finally realized what I’d forgotten, the taxes and penalties came to, if I remember right, $540.
I wonder how it is that when I forgot 2% of my income, they took about 90% of it afterward, but when he forgot 20% of his income, they only took 33% of it?
Nutella
@catclub:
I didn’t even though the mortgage banker recommended that I do that to make a higher down payment. I pointed out that it was illegal but he just shrugged.
This was years before the recent housing bubble during a smaller local bubble. Banksters have always been banksters.