How does that old saying go?
Oh yeah....
A fool and his money are soon parted.

LOL

Sorry this is not in the right place....don't know why it showed up here. Susie Romney is very very rich. And yes, compared to our current president he doesn't compare in money to spend on a campaign but compared to others who normally run in the GOP, he is way over the top. Just face it.



Edited 1 time(s). Last edit at 01/21/2012 06:52PM by honestone.

I worked for about 6 months for an insurance company/securities firm in Provo area in the late 90s. The guy who owned the firm was a high-up mormon and virtually all our clients were TBMs. There were quite a few clients who only paid tithing once a year, in December and paid with stock. That way they avoided the capital gains.

So they'd call Elder Penishood and give him the number that their accountant had figured they'd need to pay to cover their 10% for the year and my boss would decide what to pay with and take care of it. So tithing for these people was a simple once-a-year business transaction and they didn't even have to go to the trouble of filling out the form. The firm did more sacrificing to pay the tithing than they did (and I was the one doing all the administrative work). I thought I should have gotten the blessings.

But many of these people were bishops and higher and I'll guarantee they gave more than their share of talks about the blessings of tithing. Yes, they'd extol the virtues of "sacrificing" to pay tithing to people who had to choose between food or diapers or maybe even a roof over their heads and paying tithing. Just made me sick to even deal with them. It was when I was really questioning whether there was anything good in the church at all--just a couple years before I resigned. It certainly helped open my eyes.

Seems like this is soemthing to share with more than just THIS group. Thanks for the info. It had to be sickening to watch. Mitt is a rich guy who doesn't like to part with his money unless it is to continue to be "worthy".

All I can say is this: I AM SO GLAD THE PRESS IS GOING OVER ROMNEY AND HIS FREAK RELIGION WITH A FINE-TOOTHED COMB THIS TIME!!!

+ 1,000,000 informer!
It's about time for LD$ Inc to get a real shake-down. Good find Baura; I think I'll post this one on my FB; there's been some really good articles coming down the pike lately.

Of course he did and does. Rich Mormons do this to avoid having to pay 10% of their income.

Like most rich people, they do whatever they can to maintain their wealth.

It's no wonder he's had SLC backing. He's given them tons of money. My guess is thanks to Mitt, they were able to build the "sacred" mall.

are a perfectly legitimate way to donate to charities. And the charities don't care how they get the money.
Peo

BUT, when he donates stock he doesn't have to pay taxes first. If he sold the stock and then donated the proceeds, he'd have to pay taxes first. So, it looks like he donated a bigger percentage of his income than he actually did.

How many mormons get to make their donations pre-tax?

Jive.



Edited 1 time(s). Last edit at 01/21/2012 01:09AM by thingsithink.

One has to consider the possible reasons that he is not releasing his tax return:

1. He is paying a lower percentage in taxes than many people would expect or find palatable. (He has already acknowledged this.)
2. His overall income level is so high that it may make him seem more out of touch with the middle class. (Debatable.)
3. He is sheltering a significant amount of his assests in offshore accounts. (This is already known, although the degree to which he is doing it is not.)
4. He genuinely believes in privacy about this matter. (Unlikely, since he has stated that he is willing to release his 2011 income tax statement.)
5. He is paying a lot less of his total income in tithing to the Mormon church than most Mormons would expect. (A possibility.)

Summer all of the above could be the reason or a combination of them. Doubt he will survive this if he doesn't release them. The middle class far outnumbers the rich.



Edited 1 time(s). Last edit at 01/21/2012 02:57PM by honestone.

Summer all of the above could be the reason or a combination of them. Doubt he will survive this if he doesn't release them. The middle class far outnumbers the rich.

That's exactly right, Dimmesdale. As a professional fundraiser, receiving gifts of stock is pretty standard.

It IS an asset that the donor is giving up, and yes, there is a bit of a double tax break, but there's not a thing about it that is shady or anywhere near illegal.

It's just something that those of us without robust stock portfolios aren't really exposed to so it seems like a fat cat kind of thing. The extra tax break is beneficial but it's not robbing the bank, and is only available when contributing to charity, which, after all, is not a terrible thing to do.

This is a VERY COMMON PRACTICE among people with assets. It's not even the most sophisticated way to contribute to charity. It's actually very straightforward and simple.

Anyone earning money the way he does would do the same thing, most likely. And he's not that "rich"...many people in the US are much richer.

Exmosis Wrote:
-------------------------------------------------------
> n/t

I'm not one to put a cap on what "is enough" for anyone. It's open. He earned his money. Others do the same. Check out the wealth of some Arab's wealthiest. Mr. Romney doesn't even come close! He is "poor" compared to them! :-)

I don't have a problem with how much income he earns (although it could be a good argument for his being out of touch with mainstream America.) What I do have a problem with is that I pay a higher percentage of my income in taxes than he does.

summer Wrote:
-------------------------------------------------------
> I don't have a problem with how much income he
> earns (although it could be a good argument for
> his being out of touch with mainstream America.)
> What I do have a problem with is that I pay a
> higher percentage of my income in taxes than he
> does.


Yes, I pay a higher rate also, but that's because of the Tax Code and how money is taxed, not about the character of the person. We have been taxed differently over the years. Lots of people are.

I think it very much has to do with the character of the person.

summer Wrote:
-------------------------------------------------------
> I don't have a problem with how much income he
> earns (although it could be a good argument for
> his being out of touch with mainstream America.)
> What I do have a problem with is that I pay a
> higher percentage of my income in taxes than he
> does.


Yes, I pay a higher rate also, but that's because of the Tax Code and how money is taxed, not about the character of the person. We have been taxed differently over the years. Lots of people are. Some years I didn't pay any tax.

Its seems to be a non-issue with the non-Mormons who are commenting on the story. They actually see it as a respectable thing, donating to a "charity."

Ex-CultMember Wrote:
-------------------------------------------------------
> Its seems to be a non-issue with the non-Mormons
> who are commenting on the story. They actually see
> it as a respectable thing, donating to a
> "charity."


Well, duh, of course it is respectable to donate to charity! How do you think they survive?? It's been a long established custom in the tax code that is advantageous to both parties. I'm surprised people don't know that.

This web site is a non-profit (or non-prophet!) and it is OK to donate money also! It's acceptable in the tax code. :-)



Edited 1 time(s). Last edit at 01/21/2012 01:27PM by SusieQ#1.

True. but it helps fund people who don't mind their own business when it comes to religion. It helps fund people who don't live and let live. It helps fund people who don't respect someone else's rights. It funds a myth and supports a tribe that violates all of the foregoing. And as much as people like us who support the idea of live and let live, who like the idea that people should respect others rights to believe - well, unfortunately, his money supports an organization that refuses to do that.

And that's okay. :_)

Technically, at least in the eyes of the law and the general public, LDS Inc. may be a charity, but in my opinion its one of the worst "charities" ever created.

Mormonism ain't a legitimate charity. It's a corporation, masquerading as a church/charity.

Mormonism ain't a legitimate charity.

It's a corporation, masquerading as a church/charity.

I found no reason to put U.S. earned money in a foreign bank, other than the secrecy offshore accounts contain up to $32 million

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Mwwwaaaa-hahahahahaha!

Mwwwaaaa-hahahahahaha! Mwwwaaaa-hahahahaha-HA!

cccccc

There is only one source of revenue for the blessings that comes from tithing. It only Moves in one direction, From the stupid to elite. It comes right out of the hide of the faithFOOL who are conned into paying it, and goes to those who are deceitful enough to take it. Romney has NEVER given any thing to LDS Inc that he did not expect to go full circle and come back to him many times over.


the leaders know how it works, this is what happens when the sheep in the MORmON flock are out of blood to suck.
http://www.youtube.com/watch?v=f0mPhgJx0rY