{"id":16031,"date":"2012-11-04T18:25:20","date_gmt":"2012-11-05T02:25:20","guid":{"rendered":"http:\/\/teensleuth.com\/blog\/?p=16031"},"modified":"2012-11-04T18:25:20","modified_gmt":"2012-11-05T02:25:20","slug":"romney-paid-zero-taxes-from-1996-to-2009-via-loophole-cutting-mormon-donations","status":"publish","type":"post","link":"https:\/\/teensleuth.com\/blog\/?p=16031","title":{"rendered":"Romney Paid Zero Taxes From 1996 To 2009 via Loophole Cutting Mormon Donations"},"content":{"rendered":"<blockquote>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-16033\" title=\"feature_mormon29__01__630x420\" src=\"http:\/\/teensleuth.com\/blog\/wp-content\/uploads\/2012\/11\/feature_mormon29__01__630x420.jpg\" alt=\"\" width=\"504\" height=\"336\" \/><\/p>\n<\/blockquote>\n<p>Bespeckled Mormon Harry Reid was right. \u00a0<a href=\"http:\/\/www.bloomberg.com\/news\/2012-10-29\/romney-avoids-taxes-via-loophole-cutting-mormon-donations.html\"><span style=\"color: #ff0000;\">Bloomberg<\/span><\/a> busted the story wide open.<\/p>\n<p>Using a tax shelter called a<a href=\"http:\/\/www.mittromney.com\/disclosure\/mitt\/tax-return\/2007\/state-disclosure\"><span style=\"color: #ff0000;\"> CRUT (charitable remainder unitrust) <\/span><\/a> that was held by the Church of Latter Day Saints (Mormons), \u00a0Mitt Romney was able to pay zero taxes (legally) every single year from 1996 to 2009. \u00a0Why did he stop in 2009? \u00a0Because he would make public his 2010 tax return, that is why.<\/p>\n<p>This tax loophole was\u00a0<a href=\"http:\/\/politics.gather.com\/viewArticle.action?articleId=281474981730200\"><span style=\"color: #ff0000;\"> killed by Congress in 1997.<\/span><\/a> However those including Romney that were already using it were allowed to continue it. \u00a0 The way it works, is that Romney makes a &#8220;charitable&#8221; contribution to the Church of Latter Day Saints and it goes into a trust. \u00a0Since the trust is held by the church, the money is tax \u00a0deferred. \u00a0Any capital gains, are non taxed because of the charities status. \u00a0Like an annuity, the donor gets a charitable tax deduction and an stream of cash payments. \u00a0When Romney dies, the church accepts full ownership..<\/p>\n<blockquote><p>Bloomsberg&#8217;s attorneys estimate as the Romneys have received these payments, the money that will potentially be left for charity has declined from at least $750,000 in 2001 to $421,203 at the end of 2011&#8230;..<\/p><\/blockquote>\n<p>Romney has refused to answer any thing on this topic. \u00a0His campaign puts out that it was all &#8220;legal&#8221;. They never use the words &#8220;moral&#8221; or &#8220;ethical&#8221; or &#8220;patriotic&#8221; or &#8220;selfless&#8221; or &#8220;Christlike&#8221;.<\/p>\n<p>&#8220;Romneying&#8221; = Legally stealing from your church.<\/p>\n<p>&nbsp;<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Bespeckled Mormon Harry Reid was right. \u00a0Bloomberg busted the story wide open. Using a tax shelter called a CRUT (charitable remainder unitrust) that was held by the Church of Latter Day Saints (Mormons), \u00a0Mitt Romney was able to pay zero taxes (legally) every single year from 1996 to 2009. \u00a0Why did he stop in 2009? [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-16031","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/teensleuth.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/16031","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/teensleuth.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/teensleuth.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/teensleuth.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/teensleuth.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16031"}],"version-history":[{"count":5,"href":"https:\/\/teensleuth.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/16031\/revisions"}],"predecessor-version":[{"id":16037,"href":"https:\/\/teensleuth.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/16031\/revisions\/16037"}],"wp:attachment":[{"href":"https:\/\/teensleuth.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/teensleuth.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/teensleuth.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}