Choose Your Own Tax Rate
Mitt Romney has always insisted that he has paid what he is legally required to pay in taxes, and only what he is legally required to pay. No more, no less. Indeed, paying more, according to Romney, would disqualify him to be president because the American people would want him to pay only what the tax code requires.
Back in July, when David Muir of ABC News asked Romney whether he paid less than 13.9 percent, Romney said he wasn’t sure. This is what he said:
Romney: I haven’t calculated that. I’m happy to go back and look but my view is I’ve paid all the taxes required by law. From time to time I’ve been audited as happens I think to other citizens as well and the accounting firm which prepares y taxes has done a very thorough and complete job pay taxes as legally due. I don’t pay more than are legally due and frankly if I had paid more than are legally due I don’t think I’d be qualified to become president. I’d think people would want me to follow the law and pay only what the tax code requires.
Today, in the Friday News Dump to end all Friday News Dumps, Mitt Romney released his long-awaited single solitary 2011 tax return. And everything got weird.
His 2011 tax return reveals that his actual legal tax rate was 9 percent, but that he up and decided to pay over 14 percent.
How? By not taking all the charitable deductions that he could have taken.
Why? Because he’d already told the American people that he paid at least 13.9 percent in taxes, and he couldn’t subsequently pay only 9 percent in taxes — he’s running for office for god’s sake!
So in filing his most recent tax returns, Mitt Romney purposefully paid more in taxes so that his tax filing would align with his statements to ABC News that he paid at least 13.9 percent. He cynically manipulated his tax returns for political purposes.
[read full post at ABLC]