Monday, August 27, 2012

New York Times Reports Romney Paid Federal Taxes for at least the past 10 years

According to the New York Times, Mitt Romney's 2010 Tax return shows that he used a foreign Tax credit to offset taxes he owed here:
That’s because Mr. Romney paid income tax to foreign countries, and as result claimed in 2010 a $129,697 foreign tax credit, which he used to offset taxes he owed in the United States. American taxpayers who claim the foreign tax credit are required to report their total foreign taxes paid and tax credits used for the previous 10 years. So that return contains foreign tax data going back to 2000.

The good news for Mr. Romney is the forms suggest that he paid at least some federal income tax every year, as he has said he did. He used the foreign tax credit every year to offset his taxes in the United States, and American taxpayers can’t use a tax credit if they owe no federal income tax. This casts even more doubt on the claim by the Senate majority leader, Harry Reid, attributed to an unnamed Bain Capital source, that Mr. Romney paid no income taxes during that time.
Read the full story HERE.

Do you think Harry Reid will man up and apologize to Romney?

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Anonymous said...

No, Reid will NOT man up.

Chazak said...

While Reid should apologize he will NEVER be man enough to do so. He is a liar and a fraud in every aspect of his life ... personally, I would think that members of the LDS church would repudiate him for being such an utter embarrassment.

Noelle said...

As a member of the LDS church, I am embarrassed by Harry Reid. He is not man enough to apologize. I can't think of the last time he was man enough to do the right thing. My 4 year old daughter is more of a man than Harry Reid is (so to speak).