Monday, October 8, 2012

Mitt Romney Releases Tax Returns

Mitt Romney Releases Tax Returns

Mitt Romney Reportedly Avoids Taxes Through Mormon Church Trust

Mitt Romney has been employing yet another strategy to avoid paying taxes, according to a new report.

Romney legally avoided paying taxes through a charitable remainder unitrust he set up with the Mormon Church in 1996, Bloomberg News' Jesse Drucker reports.

The trust, which is only a small fraction of Romney's $250 million net worth, has been paying Romney 8 percent of its assets every year, according to Bloomberg. Since charities, including the Mormon Church, are tax-exempt, Romney hasn't paid taxes on the money for more than 15 years. The Romney campaign declined to respond to questions from Bloomberg and only said through a spokeswoman that "the trust has operated in accordance with the law." -Read More

(Reuters) - Mitt Romney spent nearly $100,000 in state funds to replace computers in his office at the end of his term as governor of Massachusetts in 2007 as part of an unprecedented effort to keep his records secret, Reuters has learned.-Read more
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