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Can't help but think I know why Mitt's refusing to release his taxes... (Original Post) stlsaxman Apr 2012 OP
Perhaps tens of millions of income and a tax rate lower than the housekeeper's? Scuba Apr 2012 #1
He Probably Didn't Pay A Time In Taxes For Years... KharmaTrain Apr 2012 #2
Not just the low Federal rate, but his residency for state taxes is suspect DJ13 Apr 2012 #3
He might also have a little residency problem gratuitous Apr 2012 #4
I'm leaning ... 1StrongBlackMan Apr 2012 #7
I wonder where he claims the homestead credit............. Angry Dragon Apr 2012 #9
Yes. This sounds more likely. toddwv Apr 2012 #21
All of the above + maybe he really IS that stupid and arrogant. nt DCKit Apr 2012 #5
Where did Rose Kennedy vote? exboyfil Apr 2012 #6
Rose Kennedy ... 1StrongBlackMan Apr 2012 #8
Probate can happen just about anywhere gratuitous Apr 2012 #12
Rose Kennedy LiberalCatholic Apr 2012 #13
Pathwalker Apr 2012 #16
This message was self-deleted by its author onenote Apr 2012 #18
It think it was probably just a mistake MineralMan Apr 2012 #19
If he hired undocumented workers and paid them under the table? treestar Apr 2012 #10
given he said he was matching Kerry model.... Fresh_Start Apr 2012 #11
I agree...something's fishy about so little paid to househeld help joeybee12 Apr 2012 #14
Domestic help payroll would be revealing. krispos42 Apr 2012 #15
IMO, I think it has to do with his religious tithe deduction. nt CK_John Apr 2012 #17
You know, I think it's a combination of all the things mentioned. laundry_queen Apr 2012 #20
Too much or too little? Catbird Apr 2012 #22
I heard that McCain was considering him for VP but decided not to after savalez Apr 2012 #23
I think that falls under ... GeorgeGist Apr 2012 #24

KharmaTrain

(31,706 posts)
2. He Probably Didn't Pay A Time In Taxes For Years...
Fri Apr 20, 2012, 12:44 PM
Apr 2012

...legally. He admits to "at least 14%"...and with a combination of deductions and off-shoring he may even have gotten refunds along the way.

gratuitous

(82,849 posts)
4. He might also have a little residency problem
Fri Apr 20, 2012, 12:46 PM
Apr 2012

Since he's voted in Massachusetts the last couple of elections, based on his alleged residence in the basement of one of his sons' homes. Wouldn't look good to be committing voter fraud when he's told the IRS that he really lived somewhere else when casting those Massachusetts ballots.

 

1StrongBlackMan

(31,849 posts)
7. I'm leaning ...
Fri Apr 20, 2012, 01:06 PM
Apr 2012

towards this explanation. I don't believe he cares what other legal things, e.g., tax rate paid relative to his housekeepers, location of off-shored accounts, etc., might appear.

gratuitous

(82,849 posts)
12. Probate can happen just about anywhere
Fri Apr 20, 2012, 01:33 PM
Apr 2012

A person's estate can be probated just about anywhere, based on several considerations such as residence, ownership of property, location of vital interests, etc. When presented with a choice of jurisdictions, a good fiduciary will choose the jurisdiction that provides the greatest advantage to the estate, minimizing taxes and maximizing distributions to heirs and devisees. Certainly in the realm of folks who have sufficient wealth to be subject to the estate tax, a person's attorneys, accountants and other advisers would be remiss in not advising their client to make arrangements before dying to minimize their tax obligations.

So, a person could be domiciled in Massachusetts (for example), yet take action to establish a connection to another state (buying property, living there part of the year, etc.) to be allowed to probate their estate there.

Response to Pathwalker (Reply #16)

MineralMan

(146,331 posts)
19. It think it was probably just a mistake
Fri Apr 20, 2012, 01:51 PM
Apr 2012

in reading the profile. The poster deleted everything, instead of using self-delete. Just a mistake, I think.

treestar

(82,383 posts)
10. If he hired undocumented workers and paid them under the table?
Fri Apr 20, 2012, 01:08 PM
Apr 2012

I could bet on that. He slipped by on his yard work by claiming it was someone else's fault.

Fresh_Start

(11,330 posts)
11. given he said he was matching Kerry model....
Fri Apr 20, 2012, 01:30 PM
Apr 2012

shouldn't he be continually asked when is he giving 20 years like Kerry

laundry_queen

(8,646 posts)
20. You know, I think it's a combination of all the things mentioned.
Fri Apr 20, 2012, 02:07 PM
Apr 2012

I think he knows there is at least one or 2 things that will cause a shitstorm.

That said, I think he's making a big mistake (which is fine by me) by waiting. If he released everything right now, it would all die down by Nov.

One thing - you can guarantee he'll release it on a Friday afternoon.

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