2012 US Election -- Round 2

[Coito ergo sum]

Battery maker A123 Systems vowed thousands of new jobs when it received a nearly quarter-billion-dollar stimulus grant in late 2009, but federal job-tracking figures show only a few hundred positions were created before the company joined a growing list of federally backed energy businesses that ended in bankruptcy.

Read more: Quarter-billion-dollar stimulus grant creates just 400 jobs - Washington Times http://www.washingtontimes.com/news/201 ... z2At8vE2G9
Follow us: @washtimes on Twitter

[kiki5711]

Similarly, you can put money in a tax deferred IRA. I.e. - you don't have to pay tax on it now, when you put it in the IRA, but when you start withdrawing it, you pay taxes on it.

I don't think I'll need my tax deferred IRA when I'm dead.

The point is Mitt is using his "status" in the Mormon church to make these funds tax free. All the churches do that, with their extended leadership. I can belong to a church, buy a house, say it's extended stay of my church activities, and use the churches tax exempt status.

HOWEVER, BEING THAT HE IS RUNNING FOR PRESIDENT, he really ought to set up a better example for what the word "charity" means, other than just use it to save money.

[Coito ergo sum]

Similarly, you can put money in a tax deferred IRA. I.e. - you don't have to pay tax on it now, when you put it in the IRA, but when you start withdrawing it, you pay taxes on it.

I don't think I'll need my tax deferred IRA when I'm dead.

But, when money is withdrawn from it, you pay taxes on it. It's tax deferred.

The point is Mitt is using his "status" in the Mormon church to make these funds tax free. All the churches do that, with their extended leadership. I can belong to a church, buy a house, say it's extended stay of my church activities, and use the churches tax exempt status.

It's just a trust. And, it defers taxes -- it's not tax exempt at all.

And, you can't just join a church, buy a house and say it's extended stay of your church activities. Nobody can.

You can deduct donations to a church or any other charitable organization, if the church or other organization has 501c3 status.

HOWEVER, BEING THAT HE IS RUNNING FOR PRESIDENT, he really ought to set up a better example for what the word "charity" means, other than just use it to save money.

He opened this trust up in 1996, around 16 years ago, and he wasn't running for President. There is and was nothing illegal or unethical about it. It doesn't evade taxes -- it defers taxes. That's all.

Obama has a huge pension that is tax deferred, too. I don't see you bitching about that.

[kiki5711]

And, you can't just join a church, buy a house and say it's extended stay of your church activities. Nobody can.

the fuck you can't.!!!! I've spent enough years in a church to see exactly what they can get away with.

Mitt, being some kind of "his holiness" in his Mormon church, gives him the status to do that.

[Coito ergo sum]

And, you can't just join a church, buy a house and say it's extended stay of your church activities. Nobody can.

the fuck you can't.!!!! I've spent enough years in a church to see exactly what they can get away with.

You can't legally do it. That's bullshit. The church itself can buy property and the church itself is tax exempt. But, being a member of a church doesn't give you the right to declare property an "extended stay of your church activities." You don't know what you're talking about.

Believe me, if it were possible to buy a house and have it be part of "church activities" so that I don't have to pay property taxes, capital gains tax when I sell it, or tax on income when I rent it, then I'd do it in a heartbeat, and so would everyone else.

Mitt, being some kind of "his holiness" in his Mormon church, gives him the status to do that.

To do what exactly? Buy a house? And, save what on taxes? Be specific, if you know what you're talking about.

And, incidentally, that has fuck all to do with the unitrust.

[kiki5711]

You don't know what you're talking about.

NO...you don't know what you're talking about, and it's a waste of my time to explain it to you. go take a shit or something.

[Coito ergo sum]

You don't know what you're talking about.

NO...you don't know what you're talking about, and it's a waste of my time to explain it to you. go take a shit or something.

LOL -- you really can't explain it, because you don't know.

[Gerald McGrew]

Now GM jumps in and says Romney's full of shit as well...

http://www.detroitnews.com/article/2012 ... 210300400/

Chrysler Group and General Motors Co. forcefully attacked comments from Republican presidential candidate Mitt Romney that Chinese production could cost Americans jobs....

...GM denounced a new Romney radio ad in Ohio on Tuesday that also attacked GM for building cars in China, ramping up the rhetoric.

..."At this stage, we're looking at Hubble telescope-length distances between campaign ads and reality. GM's creating jobs in the U.S. and repatriating profits back to this country should be a source of bipartisan pride," GM spokesman Greg Martin said. "We've clearly entered some parallel universe during these last few days. No amount of campaign politics at its cynical worst will diminish our record of creating jobs in the U.S. and repatriating profits back to this country."

Romney falsely suggested in a speech Thursday that Chrysler was considering moving all Jeep production to China. The statement was apparently based on right-leaning blogs that misinterpreted a Bloomberg News story.

Somehow, I don't think this is going to help Romney in Michigan and Ohio.

[Coito ergo sum]

Fiat SpA (F), majority owner of Chrysler Group LLC, plans to return Jeep output to China and may eventually make all of its models in that country, according to the head of both automakers’ operations in the region.

Fiat is in “very detailed conversations” with its Chinese partner, Guangzhou Automobile Group Co. (2238), about making Jeeps in the world’s largest auto market, said Mike Manley, chief operating officer of Fiat and Chrysler in Asia.

“The volume opportunity for us is very significant,” Manley, who is also president of the Jeep brand, said in an interview at Chrysler’s Auburn Hills, Michigan, headquarters. “We’re reviewing the opportunities within existing capacity” as well as “should we be localizing the entire Jeep portfolio or some of the Jeep portfolio.”

http://www.bloomberg.com/news/2012-10-2 ... limbs.html

I guess it depends which Chrysler executive you want to believe. The President of the Jeep brand said in an interview that they were considering it.

The Bloomberg story, though accurate, "has given birth to a number of stories making readers believe that Chrysler plans to shift all Jeep production to China from North America,

From The Detroit News: http://www.detroitnews.com/article/2012 ... z2AtaYI7fK

So, the quote about moving Jeep production to China is accurate.

And why would the story make readers believe that Chrysler plans to shift Jeep production to China? Because the Bloomberg article quoted the president of Jeep saying that they were considering doing just that.

[Coito ergo sum]

Joe Biden -- he gives you the whole load.

[Ian]

Reason enough to keep Biden around for four more years - the inadvertently comedic gaffes.

[kiki5711]

How Romney Borrowed The Mormon Church’s Tax Exemption

by Steve Williams
October 30, 2012

That Mitt Romney has managed to avoid paying a staggering amount of taxes is no secret. In his defense, Romney’s supporters often cite Romney’s charitable donations. However, a new report by Bloomburg has cast an eye over Romney’s engaging in a practice that, while technically legal, has allowed Romney to exploit the Mormon Church’s tax exempt status in order to defer taxes.

Read more: http://www.care2.com/causes/how-romney- ... z2Atdbabg8



Read more: http://www.care2.com/causes/how-romney- ... z2AtdOKPBJ

[Coito ergo sum]

On the issue of politicizing hurricane Sandy.

The White House released this photo of the "situation room" in which he is shown dutifully handling the hurricane situation.



Nothing at all to do with gaining a political advantage, eh?

[Coito ergo sum]

How Romney Borrowed The Mormon Church’s Tax Exemption

by Steve Williams
October 30, 2012

That Mitt Romney has managed to avoid paying a staggering amount of taxes is no secret. In his defense, Romney’s supporters often cite Romney’s charitable donations. However, a new report by Bloomburg has cast an eye over Romney’s engaging in a practice that, while technically legal, has allowed Romney to exploit the Mormon Church’s tax exempt status in order to defer taxes.

Read more: http://www.care2.com/causes/how-romney- ... z2Atdbabg8



Read more: http://www.care2.com/causes/how-romney- ... z2AtdOKPBJ

Well, duh. He created a trust in the amount of $750,000, 16 years ago. "When individuals fund a charitable remainder unitrust, or “CRUT,” they defer capital gains taxes on any profit from the sale of the assets, and receive a small upfront charitable deduction and a stream of yearly cash payments. Like an individual retirement account, the trust allows money to grow tax deferred, while like an annuity it also pays Romney a steady income. After the funder’s death, the trust’s remaining assets go to a designated charity."

Read more: http://www.care2.com/causes/how-romney- ... z2AtejZCp7

The IRS regulations at play in 1996 were those of the Clinton administration's IRS. The big complaint in the article you cited was that the trust doesn't comply with changes to the law that occurred a year after the trust was created.

But you did, Kiki, manage to prove that you don't know what you're talking about. Well done!

[Gerald McGrew]

So, the quote about moving Jeep production to China is accurate.

See, this is the stupid little fucking game Romney and the conservative diehards are playing. "Technically, we never actually said Jeep is moving all production to China", when they very clearly implied exactly that.

And why would the story make readers believe that Chrysler plans to shift Jeep production to China? Because the Bloomberg article quoted the president of Jeep saying that they were considering doing just that.

Except the company has come out since and stated unequivocally that not only did Bloomberg get the story wrong, Jeep/Chrysler is actually expanding production in the US. They keep saying it over and over and over and over..."Bloomberg and Romney are wrong. Bloomberg and Romney are wrong. Bloomberg and Romney are wrong. Bloomberg and Romney are wrong."

But you just keep clinging to an obvious lie because that's what a good, loyal Republican does.