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Romney ‘rented’ Mormon church’s exemption to defer taxes for 15 years

 
Mordier L'eft
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User ID: 26490586
Canada
10/29/2012 04:39 PM

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Romney ‘rented’ Mormon church’s exemption to defer taxes for 15 years
Republican presidential nominee Mitt Romney used a loophole to “rent” the Mormon church’s tax exemption status and defer paying taxes for 15 years, according to a new report.

Tax returns obtained by Bloomberg News through a Freedom of Information Act request indicated that Romney set up a charitable remainder unitrust (CRUT) in June 1996 just before Congress cracked down on the loophole in 1997.

“In this instance, Romney used the tax-exempt status of a charity — the Mormon Church, according to a 2007 filing — to defer taxes for more than 15 years,” Bloomberg’s Jesse Drucker explained. “At the same time he is benefitting, the trust will probably leave the church with less than what current law requires.”

[link to www.rawstory.com]

pin whatever horseshit story on obama you see, every day.

and go ahead, just ignore anything that may point out romney's malfeasance. you do that every day, too.

Last Edited by Mordier L'eft on 10/29/2012 04:40 PM
--"In this era of great big brains anything that can happen will. So hunker down." -- Kurt Vonnegut, JR. -- Galapagos.
Anonymous Coward
User ID: 26377294
United States
10/29/2012 04:45 PM
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Re: Romney ‘rented’ Mormon church’s exemption to defer taxes for 15 years
Many enlightened beings have perceived that obsession with wealth is among several types of madness born of obsession. In its extreme this form of madness extends to obsession with the wealth of others.

Could this be why so many people are so obsessed with the wealth of Mitt Romney?

[link to www.vedicshamanism.blogspot.com]