A shocking new report outlines how Mitt Romney may have legally dodged taxes. All legal, yes, but not something that everyday Americans can do.
David Cay Johnston, columnist for Reuters, Pulitzer Prize winner, author (Perfectly Legal and Free Lunch), will give us the details and Eugene Robinson, MSNBC Analyst and Associate Editor and Pulitzer Prize winning columnist for the Washington Post, will join Ed to discuss the politics.
Former Vice President Dick Cheney never apologized for shooting someone in the face. But Sarah Palin’s got him running scared. Democratic strategist Bob Shrum will weigh in on the power of Palin.
The Obama campaign continues its push to open up early voting for all Ohioans. Now some military groups are joining the fight. Rep. Betty Sutton (D-OH) will join Ed for that.
President Obama slams Romney on his bogus tax plan and Mitt fights back with sandwich meat. The panel (Joy Reid, Managing Editor of TheGrio.com and MSNBC Contributor, Keli Goff, Political Correspondent at TheRoot.com, and radio talk show host Mark Simone) will weigh in on Romney's laundry list of problems.
The latest attacks follow a comment from Majority Leader Harry Reid, who took to the Senate floor to claim presumptive Republican presidential nominee Mitt Romney hadn't paid taxes for 10 years while at Bain Capital. NBC's Chuck Todd reports.
Mitt Romney lets his true colors shine with another "out of touch" moment. You won't believe what the unemployed millionaire picked up at the hardware store:
On Monday, Mitt Romney was in Wolfeboro, New Hampshire to do some shopping. He picked up what he called "hardware stuff" at the hardware store and then some Diet Coke and ears of corn at the grocery store. Yum!
And in the Big Finish, another day, another lie from the Romney campaign: this time it's about welfare. Jonathan Alter, MSNBC Political Analyst and Bloomberg View columnist, has reaction and analysis.
It's going to another packed @EdShow at 8pET on @msnbctv.
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I'd llike to see little wimps tax for the last 10 years. Maybe I can learn a few legal ways not to pay taxes.....Nope, not rich enough to cheat. And with all those oppertunities not to pay taxes, he will not raise the taxes on the rich. Who is the winner here, and who is the looser?
you cant unless you have the money to fight an audit and win
it requires also a lot of convolution to get around the ARMS LENGTH test. then you have the CASH>LOAN problem. you need to sustantiate transactions with lots of buffalo @!$%# to avoid being prosecuted for MONEY LAUNDERING.
getting away with not paying taxes is flat out the least risk most gain area of investment in this time period (no growth, high risk). AND ITS A CON GAME.
in fact, ITS ARKISH.
TM...he didnt cheat. He used the legal deductions that both Republicans and Democrats have put on the books.
just saying...
mitty is nothing but a spoiled rich bully who thinks he can buy whatever he wants and has never been held accountable for anything in his life. what a pathetic "man". this jerk likes to fire people, doesn't worry about the poor, wants to destroy our safety nets, made a fool of himself on his overseas trip, cannot even relate what he purchased at a hardware or grocery store (I don't think he knows what the items are called). good for Harry Reid for calling mitty out on his refusal to release his tax forms--mitty must be hiding something really big!
You said it perfectly Kathy!
mitt romney wants to give all americans a haircut. get a clue.
So Mitt followed the law, oh by the by Mitt does not do his own taxes he has accountants do it.
But back the "He may have legally dodged paying taxes".
Funny you people call them deductions, yet it's loop-holes for the rich, and "legally dodged"...
Ronmey pays more in tax in one year than you people will make in a life time.
Next he donates more money to Charity in one year than you people will make in your life time.
ho-lee-cow#4~~All of us make more than zero in one year! So what you say, as always, is not true, it is just blabber. And none of us care how much he, you or anyone else contributes to charity.
dont even think for 1 second he followed the law as you would. he has an advantage. he has tricks he can afford....
i didnt sign that
oh it was an error and i am correcting that
oh that documet was based on other data that was submitted before and may need adjusting
well it was true at the time but upon retrospect and given the change in the circumstances surround a larger complexity of issues we filed in conformance with which better suits the requirements of filings for the overall picture of our conglomerates.
his BULL@!$%# continues. he figures he can break the law and dismiss it while you people get your precious homes repossessed by his friends who profit from stealing your home by their "dept/price trap".
you havent seen anything yet. DONATE? HIM? not a chance. he worships money and you people are his target. guess what? he wants to give all you people a serious haircut n matter how mucy you struggle.
All of us make more than zero in one year! So what you say, as always, is not true, it is just blabber. And none of us care how much he, you or anyone else contributes to charity.
The year ending 2010 mitt paid $2.8 million in tax and donated $2.8 million.
Rich people giving money to charity's is why you have NPR etc, go to any hospital and read about the money donated from rich people to expand the hospital.
If you have a museum in your town rich people support it, if you have an orchestra in your town, rich people pay for it.
Rich people support the Church's, donate money to the city, the police department.
I can not believe Romney said he bought "hardware stuff" at the hardware store. The man does not even know a hammer or a screwdrive. It is all hardware stuff,because someone told him, that is what you buy at the hardware store! :)
He probably gave the hardware guy the list and HE filled up the bucket! Clueless had no idea what was in there! LOL
mitt does a LOT of PRETENDING. he pretends to believe one thing, and another. he runs the numbers and figures 50% of the time what he says will be true. then he runs the other numbers and figures that those he lied to will only hope he isnt lying. then he runs the other numbers and figures that those who know he's lying also believe that he wouldnt hurt them and is just lying for their benefit. he's a numbers guy. what he hasnt fiigured is that he has run out of numbers and this time, HIS NUMBER IS UP. no pun intended.
Exactly! The fact that he couldn't at least come up with a story is astounding. He could have said I bought this and that because I'm doing such and such at home. He could have made up something, for crying out loud. I may not believe you, but at least you wouldn't look like an idiot. "Hardware stuff" is what he comes up with? What a moron.
Mitt's ability to game the system is why his campaign check is so huge, because Mitt shares the same greed ethic as any greedy fat cat! Not rich Republicans are waiting for the crumbs to fall off the table of opportunity, and it will for a few!
Most bullies are truly punks, because they never have to fight their battles because of their huge organizations; however, should they get engaged into a real fight they lose.
And that is Romney, he will lose!
romney was accustomed to those other money worshippers kissing lots of ass and saying yes. he was accustomed to making deals with ceo's to stand between himself and those whose lives he destroyed. now he has to face the people he robbed and he doesnt like it.
JO......WELL SAID !!!!!!!!!
Mitt is a habitual liar and a continual flip flop. He is an arrogant, pompous, self-centered individual who is only looking out for himself and his fellow financial libertarian benefactors. I disagree that Mitt has not exposed what he stands for. He is for the Ryan Plan which takes from the middle class and gives to the wealthy. Times have changed since Mitt served as Gov. of Mass. Romney has become even more extreme and has a strong desire to take us back to the Bush/Cheney domestic and foreign policies which would continue to widen the gap between the 1% and the rest of us and take us into another war. This time it would be Iran. That is why he has joined forces to increase defense spending. There are big profits which can be gained from the Iranian oil and for defense contractors.
cheating on taxes is the biggest ongoing sham today. and you had better believe that people involved in tax cheating feed on it and live on it because they really believe they can get away with it - especially if they get a thieving fraud like romney writing pardons.
You ignorant leberals you just dont get it do you
70% of the taxes are paid by the top 30%
If you keep raising the taxes on the rich they will just move else where and then you will get no taxes from them
If you don't believe that just take California for example they raise taxes on the rich and businesses and they moved to other states California took in less tax revenue this year then they did the previous year before they raised taxes because they moved to other states even Hollywood doesn't make movies in California because of the tax rate
wrond. 70% of the economy is drained by the top 30%? you are a huckster. a con. and probably a fraud. but dont blame yourself, find someone else to blame for your pathetic inability to do right and good by all. after all, its not your fault you got lured into and suckered into the scam and sham of supporting those who steal and deprive the economy and the people in it.. hell, you're just doing your job. you know, doing what you were told to do, following orders.
Oh we get it allright, trfjr.... If scum like Romney can't steal in one state they just move to another state ... or stash it overseas......
they don't pay taxes now, so what will change?
You guys in the media always say the same thing about the tax rate. The tax rate was this or should be that. It doesn't make any difference what the tax rate is when the millionaires get all the loopholes and the rest of us don't and have to pay.
the tax code is a scam and a sham. it was designed to support ambition and initiative. but then, like a dead fish, it started to rot.
Income Taxes all started after the civil war, to pay off the war debt and the reconstruction of the south.
Taxes were never designed to support ambition and initiative.
The fact is taxes have the opposite effect, they slow growth, slow the economy down, keeps companies from putting more people on the payroll.
romney is likely committing TAX FRAUD. lets look at the facts.
for starters, romney's character smack of being a con man.
romney is in the position to have violated the arms length rule. its called SELF DEALING.
to begin with, his horse show is not a business, its a hobby. right there you should have a clue that cutting ones hair off is nothing to him. he was a trespasser then and you have no reason to believe he isnt a trespasser now. by his horse nonsense logic, you should be able to deduct all your child's training for sports b/c you want them to be in the olympics. you could deduct all your childs education expenses b/c you are in the business of eestablishing an engineering firm.
now lets look at the overseas bigger picture..
he keeps his money outside the u.s.a.
he makes an extraodinary amount of money on his money
he has a spiderly web of "entitites"
he doesnt want to pay any more taxes than he is forced to
he has an unusual amount of money in an ira
he has people around him alarmed about being challenged on his taxes
he wants to be the president of the united states of america and believes that not being transaparent for the highest office in the world is ok and that the population can just lump it
he flat out refuses to show his taxes to the public while claiming that he followed the law
he lives llike a king in the meantime which indicates that he has plenty of cash flow inbound from out-of-bounds entitites
what do i know? i know a lot. this entire SCENARIO is one which spells 1 thing and 1 thing only.... GAINS FROM DUCKING TAXES.
you dont make gains on cash lying about or trickling in unless you can REDUCE YOUR TAX LIABILITY. you dont HIDE YOUR TAXES from the public while seeking office of the president unless your TAX DUCKING IS "AGGRESSIVE". ------ AGGRESSIVE.
for those of you who dont know HIGH FINANCE, LISTEN UP. the tax code is becoming skewed for WEALTH POOLS & WEALTH HOLDERS & WEALTH MANAGERS. And CHALLENGING THE TAX REGULATIONS IS JOB#1 for all Dr. JD preparers.
The key to winning a challenge by the IRS requires 2 things; fighting power and convolution.
romney has fighting power, you people dont.
convolution is the art of the legal fleagles and the IRS is understaffed to trace down convolluted structures which can amount to nothing more than MONEY LAUNDERING to fake expenses and loans to one person who would otherwise immediately VIOLATE THE ARMS LENGTH RULE.
he needs to be president to wash away all the tax plays he and his buddies made. he needs to issue pardons. he needs to STEAL FROM ALL AMERICA like he stole from all the businesses he raided in the past. being president would be his biggest coup and Americas biggest disaster - national disaster.
What a load of bs.
Mitt is a self made millionaire and you people can't stand it.
Liberals always want someone else's money in their pockets.
I have yet to meet anyone that wants to pay more in tax then they have to.
Mitt pays more in tax in one year than most if not all of you will make in your life time.
Just a bunch of jealous have nots, that all want rich people to pay your way in life.
So there is not tax farud what so ever.
There are some who pay their does, yet rich people have more deductables, they may deduct the Mortgages interest many homes, depreciation of horses, as well as depreciation cars, and ther facets. One may look and find that the 10 largest Corps. in the US did not pay taxes in 2010, some got pay back in the billions, of course none used these Gov. giveaways to create jobs. Most went for the top excutives.
Middle class would be lucky if he receive any reprieve from taxesif they work for someone else. They may deduct mortgage interest for one house, no horses and no car deductions.
hint. the tax code is now gearing to make rich people richer. and the reason for this is very very very very bad. thats bad. and its going to get a whole lot worse until people realize that they have a system that drains them, deprives them, ruins them, enslaves them.
what we have here is cancer. a democratic society virus. and its a killer.
WHAT AN IDIOT!!! The fact that you have someone do your shopping for you every other day of the year and today you decided to stage a shopping trip for the press to show us you're a regular guy only serves to do the exact opposite. You're not regular, you will never be regular, and now you look like more of a douche than you did before. If that was even possible.
And the cow jumped over the moon, did you hear about that yet?
Ed, to say, that romney, is like robinhood, hits at one of Englans few heros. But to say that romney is more like king John, fits him like a glove. John in hie time was doing what romney wants to do now. Remember John was taxing the poor, for his own wealth. Romney? the same. John stole from the poor, and it was robin, who gave it back.
The only comment I would say about the flipper is "he's out to lunch, totaly!"
It must be nice to be able to shop, for what you need. But its not (in his eyes) of the people who can't, due to W Bushes depression. To watch ads, even on your show, of places to eat, things to but, vacation to take, is all well and good. Except for the fact that 90% of us, can enjoy these outings. BUT the flipper can. Being a person that once was part of the mid-class, and have lost everything, It is hard to think, I can no longer enjiy this. And by seeing it on all programs, I'm so happy to have a mute button on my old tv set. A
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h6>Hate groups consists of self-haters that blames others for their plight for they perceive others as doing better. If one is full of self-hatred, one is in a state of self-inflicted Hell! God is Love; so, put Love in your heart to create a state of bliss!
Mitts campaign plan is talk to say nothing, and hope that we believe him!
What happens when taxes are raised on the so called rich (those making over $250,000.00 dollars a year, which include many small business owners)?
All that will happen is that the cost of business goes up and those increases are passed on to the consumers. We, the consumers, will pay those increases. People PLEASE wake up!
What's going to happen to the public coffers is they are not replenished? The unforseen.
Whole systems will fail (exploration, information, discovery, and infrastructure). Oh, and did you notice that some of the conservative nay-sayers are coming around to the realization that climate change is affecting the U.S. environmental conditions? How much will that cost us all to repair?
To all the Righties-What do you have against Mitt releasing his tax forms for let's say, six years. What is he hiding. This will all go away if he does what we hard working Americans do.
Ed I understand what that man in the commercial is talking about! After the company where I was working closed our division, we went on Cobra . But Cobra kept going up until I could no longer afford it. Then I finally purchased an individual policy, however that policy paid very little! So while I did have insurance coverage it was almost useless! Even with coverage I went without a much needed Stress Test and Echo Cardiogram for 16 months cause I didn't have the $ 1905.00 I needed for a co-pay. I had to sleep on 4 pillows practically sitting up for all that time until I turned 65 and was able to get medicare! So I can understand why that man's poor wife didn't want to go to the doctor's she probably couldn't afford the co pays! As I have said many times before " Anyone who has never been without insurance can't possibly know how scary it can be"