In this instance, Romney used the tax-exempt status of a charity — the Mormon Church, according to a 2007 filing — to defer taxes for more than 15 years. At the same time he is benefiting, the trust will probably leave the church with less than what current law requires, according to tax returns obtained by Bloomberg this month through a Freedom of Information Act request.
In general, charities don’t owe capital gains taxes when they sell assets for a profit. Trusts like Romney’s permit funders to benefit from that tax-free treatment.
So this seems kind of important.
I believe the children are our future set them free and let the lead the way.
This is why the “disillusioned Obama voter” is a real thing that
understandably rightfully exists. BECAUSE THIS SHIT IS GODDAMNED RIDICULOUS.
Listen, I’m glad I have a president who supports marriage equality and expanding healthcare coverage and a woman’s right to choose and even “the redistribution of wealth.” But I wish he wasn’t the same guy who
failed to chose not to close Guantanamo and who expands domestic surveillance across the board and kills American citizens overseas with drones and re-ups on an eleven year old state of emergency.
I voted for him once, and I’ll do so again, because I believe there is a definite, clear choice when it comes to the social and economic issues we face as a nation. But let’s not kid ourselves — party lines have gotten pretty blurry when it comes to the war on terror and “matters of national security.” And increasingly, it seems as though even hoping for change on these issues has become a long shot.