Wednesday, October 3, 2012

Defending Romney

First, I'm politically neutral. 

Romney pays more than his fair share of taxes. He did not take the deduction for charity donation that he is entitled legally to for the purpose of moving up his effective tax rate in an election year.

Stupid on his part. He should not donate to charities and let the poor die (a satire). Or, with better planning, he should donate next year when the election will be over and most likely the taxes will be higher (let the poor starve for a year but better tax deduction for his donation).

The reason of his low effective tax rate is due to the low capital gain tax that will most likely end next year. He or his financial adviser(s) are taking advantage of the low investment tax last few years by selling his appreciated, long-term securities as most of us do. There is nothing wrong with that.

If the guy does not take advantage of the situation, he will not be right for the president job as all political decisions are results of trade offs, compromising, taking advantage / reacting to current events...

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A blog on whether we should do our own tax return.
http://bit.ly/PVngte

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