Politics

NYTimes: Yes, Mitt Romney pays his income taxes

NYTimes: Yes, Mitt Romney pays his income taxes

What are the chances Harry Reid will apologize for his baseless claims to the contrary?

But even though he has not released his returns from earlier years, the 2010 return sheds some light on those years.

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.

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Comments (5)

  • blondenblueeyed
    Posted on August 27, 2012 at 4:23pm

    The day Harry Reid apologizes is the same day he will expose his dirty land dealings wherein he made millions.

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    blondenblueeyed  
  • jrcess
    Posted on August 27, 2012 at 2:35pm

    Harry Reid is a disgrace to the Mormon church and a total disgrace to the US government and all it’s citizens. What a moron, crook, thief and an *******.

    Report this comment

    jrcess  
    • oxycontinxx
      Posted on August 31, 2012 at 4:39pm

      harry……….is the prime definition and example of a sinner without repentence. he will burn in hell.

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      oxycontinxx  
  • Anonymous T. Irrelevant
    Posted on August 27, 2012 at 12:48pm

    All you people saying he didn’t pay and “show your returns” suck this!

    Report this comment

    Anonymous T. Irrelevant  
    • cemerius
      Posted on August 27, 2012 at 1:01pm

      Doesn’t matter they will coninue to run the ad saying “he only paid 14% of 20 million dollars in income tax”. They want it all so that the Federal Government can run for another 10 days!

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      cemerius  

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