Class Warfare Blog

August 24, 2012

Romney Tax Disclosure Reluctance Resolved!

This weekend, presidential candidate Mitt Romney is going to explain his reluctance to disclose more than his 2010 federal tax return. Apparently he doesn’t want people to see how much he donates to his church!

This seems to be a change of heart because both he and his wife are seen several times on video proudly proclaiming that he gives 10% of his income to “his church” or “to charity.” Romney has even described the tithing process to which he subscribes.

Also apparently he is confused.

He seems to believe that the 10% he gives to his church is the equivalent to giving 10% to charity. It is not. His church, the Church of Latter-day Saints or “The Mormon Church,” only claims that 3-4% of their income goes for charitable purposes. The rest goes into building churches, paying employees, etc. So Romney really is only giving 0.3-0.4% of his income to charity, which makes him a rich piker but a piker nonetheless.

Just so there is no confusion about this, in this country we do not tax churches because of the separation of church and state, not because they are charities, per se. This is a fact that more than a few churches have benefited from by running “for profit” services under their auspices without paying any taxes.

While the Romneys have been proud to boast of their tithing, at least until now, I beg to differ. Giving 10% of a $20,000,000 annual income to your church is not a hard thing to do; in fact it is quite easy. Giving 10% of a $20,000 annual income would be a hard thing. Somehow I think you or I could scrape by on just $18,000,000 in income . . . oh, and only paying an effective 14% federal tax rate on that, too.

We have a right to know whether Mr. Romney will benefit personally from any of his policies and by how much. Not telling us how much he will benefit from those policies he shows a lack of faith in the American people or nefarious intent.

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1 Comment »

  1. Excellent post. This is VERY relevant as it is at the heart of income inequality -> “Giving 10% of a $20,000,000 annual income to your church is not a hard thing to do; in fact it is quite easy. Giving 10% of a $20,000 annual income would be a hard thing. Somehow I think you or I could scrape by on just $18,000,000 in income . . . oh, and only paying an effective 14% federal tax rate on that, too.” – Well stated!

    Like

    Comment by thejumbledmind — August 28, 2012 @ 1:38 pm | Reply


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