Tuesday, July 3, 2012

Another Dumb and Biased Attack On Mitt Romney's Income Taxes

Below is a short letter I dashed off this morning to the Editor of the website Business Insider, after I read a juvenille and amatuerishly deceptive article about Mitt Romney's 2011 tax rates.
The author, Henry Blodget, a weak chinned, beady eyed dweeb, is vainly trying to rile up the lower income set, by asserting Mr. Romney pays an unfair tax rate.

Read my letter, see the link to Mr. Blodget's article as well as some follow up material on Mitt's taxes below and make your own assessments.


Dear Mr. Blodget,

It was interesting reading your decidedly biased autopsy of Mitt Romney’s tax returns.

I see you chose to play to the cheap seats and take the inflammatory angle of telling your readers Mr. Romney earned a whopping $22,000,000, while paying a grossly unfair, out of touch, implicitly devious and one can only assume, paltry $3,000,000 for a 14% tax rate.

What would be refreshing however is an honest assessment of Mr. Romney’s tax returns by manipulative media characters such as yourself.

While your attention grabbing headline number of a 13% tax on Mr. Romney’s income is accurate on a gross income level, NO ONE in the US pays income taxes on their gross income. I know for a fact YOU don’t. So wouldn’t it be fair to assess Mr. Romney on what folks actually do, as opposed to what you deem they think they should do?

In a few simple minutes I was able to find out Mr. Romney’s tax rate on his TAXABLE income (you know, the amount required by law after LEGAL deductions from gross income) is in reality 17.5%.

That is HIGHER than the 15% Cap Gains rate you tried to show Mr. Romney paying less than. It’s also higher than the pathetically biased and pseudo-alarming slant you apply, as shown in an excerpt from your article below:

14% is a lot lower than the 35% tax bracket that most people assume those who make a lot of money pay.

It's also lower than the 15% capital gains and dividends tax rate.

It's also lower than the 15% income tax rate paid by Americans who make between $8,500 and $34,500 per year.

So, you can understand why some people think Mitt Romney pays a pretty low tax rate.


Since you have the complete information on Mr. Romney’s return, it would be interesting to see his Itemized Deductions, particularly his Charitable Donations. As I understand it, Mr. Romney donates approximately 10% of his income in the form a tithe. If he uses his top line number, he’s donating $2.2 million – on a taxable income basis it would be $1.7 million. Either number is generous and even more so when compared to the model thin contributions made by such heralded political figures like Joe Biden and Bill Clinton – who notoriously donate hundreds and their used underwear.

I am realistic enough to know bottom feeders such as you will not change and will continue to try and manipulate opinion by using half-truths, guile and deceit. I just wanted you to know, there are fair-minded and decent people out there who don’t buy into your swill and will expose you, even in small measure, whenever possible.


For the folks who would like to read all of Mr. Blodget’s trash, just clink the link below.

Read more: http://www.businessinsider.com/mitt-romney-income-and-tax-2012-7#ixzz1zZ4pewRE

Meanwhile Whizbang has a nice recap of The Romney's Taxes here

UPDATE: It appears the readers at Business Insider are a lot smarter than the Editor - http://www.businessinsider.com/mitt-romney-income-and-tax-2012-7#comments

See the COMMENTS Section for Mr. Blodget's rebuttal and my follow up!!

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BOSMAN said...

Bravo Doug!

I love it when biased slime balls are called out...especially when you do it!

Doug NYC GOP said...

I received a reply from Henry Blodget and I in turn responded:

From: hblodget@gmail.com [mailto:hblodget@gmail.com] On Behalf Of Henry Blodget
Sent: Tuesday, July 03, 2012 10:16 AM
To: Douglas Solis
Subject: Re: Mitt's Tax Rate

Thanks, Douglas.

You should post this as a comment!

Actually, Mitt's "gross income from all sources" was $27 million (per later entries in the return). I went with AGI, because that's usually what people focus on.

As for the "legal deductions," I think it's fair to calculate the tax rate before those. And I also think folks would also find a 17.5% tax rate pretty low, too.

I don't have a problem with Romney making a lot of money. And he certainly paid a boatload of taxes. But I also think a lot of Americans would love to pay that low a tax rate--but can't, because they either don't know how (can't afford the advisors necessary to set up investment vehicles like Mitt's) or because they earn the money through regular income.


My response:


I appreciate the follow up, but it does nothing to eliminate the flawed bias you display.

If you want Romney and others in his income bracket to pay a higher a share – that’s fine and it is your opinion.

But to post a seedy article such as this, implying Romney is somehow taking advantage, is intellectually and morally wrong.

Why is it “fair” to calculate the tax rate before deductions? To get a more outrageous number you can exploit?

It doesn’t provide the whole, legal picture, so it smells of chicanery.

You are obviously an intelligent man and a journalist of some sorts, so you should know better than to provide your readers with your hand crafted information.

As far as Americans wishing to pay a lower rate but not being able to afford “advisors” – that’s a bogus and insincere claim proffered by someone who traffics in class envy.

A little news item for you Henry - Approximately 49% of Americans pay NO INCOME TAXES.

For the remainder – most of which have fairly simple returns, there is HR Block, Turbo Tax and the neighborhood Accountant. To portray the middle class American taxpayer as being a victim of the unscrupulous rich because they can’t get the same level of advice is age old trick for feeble minds to fall for.

Most us pay a lower rate on their taxable than Mr. Romney. I work for salary, own a home and have limited deductions. You know the kind of guy you are pandering to.

After taking my legal deductions, pointed out to me by Turbo Tax - I pay a tax rate of 11% on my taxable income.

And I hold no envy towards Mr. Romney.

You can try and squirm your way out of this, but it won’t work. Even the folks on your comment board aren’t having any of it.


Lionhead said...

Doug NYC, as Reagan said, "there you go again..." Same old attack dog style, ad hominem attack on Blodgett's facial features, etc.

Another wasted opportunity for you & Bosman to present your candidate in a positive light, to wit:


Red Team supporters are & have always overplayed the negative attack card just as the Blue Team supporters rely on the race card issue:


Articles like yours point out all too clearly the Red Team / Blue Team = Same Team paradigm.

Live Free!

Doug NYC GOP said...

Well, well well....look what hte cat dragged in.

There I go again, eh LH?

You should adhere to your own advice.

I didn't wake up this morning spoiling for a fight. My "attack dog" style has been on hiatus for the past 6 or 7 weeks due to work. But I am glad to see uon my return, old liberal apologists like yourself are still skulking the walls.

I referenced Henry's facial features because they mirror the motives and style of his article. Yo should go to the site and see the pettyy, negative stuff they put up.

And spare me your concern about being positve. If I put up a pro-Romney post about his vacation as you suggest, you'd be accusing me of hero-worship and bashing Romney for his successful lifestyle - which is quite simple when you boil it down.

So go peddle your old fish somewhere else and have a safe and Happy 4th of July.

Lionhead said...

Doug, you're wrong on two points:

1) I'm not a liberal; that should be clear to all by now. Neither am I a Progressive or Socialist.

2) I would never attack any piece regarding the candidate's family or his lifestyle. That's NOT my business. I have no issue with folks being rich. I have praised Ann Romney in the past for her courage in fighting her illness.

And you also have a safe & happy 4th of July! Let's agree to fight hard to keep our freedoms & liberty.

Anonymous said...

Lionhead wouldn't know Reagan if he bumped into him.

Doug NYC GOP said...


Why not comment on the original article by Blodget and leave it at that.

You made comment on that, just my taking issue with Henry's visage.

I'd be curious as to your thoughts on this manipulative post of his.

Doug NYC GOP said...

Thanks Bos - Have a great 4th!

Lionhead said...

Here's another great example of Socialism in Europe. While folks are arguing over an individual's tax rate, you overlook the possibility that the Federal Gov't will initiate a tax on owning any assets. All the commentators & pundits haven't even begun to think about the ramifications of the new found taxing authority of the Federal Gov't except for Libertarians.

"With the Great June Socialist Revolution spilling over into July, here are some details as they become available from France:


And as I mentioned on the chat box, Sarkozy's home has been raided by the French Police:


Don't be distracted by side issues; focus on the big picture as the fundamental change of the US continues down the path to Socialism.

Live Free!

Terrye said...

Doug, you did a good job.

Anonymous said...

Welcome back, Doug! Return of the Jedi. Pay no mind to Lyin' Hart.