Romney Repeats His Lie That His Tax Rate is About Forty Percent
Here we go again. Mitt Romney doesn't seem to care much that there are people out there actually debunking his lies even if we can't get our talking heads in the mainstream media to do it, because he just repeated another one during this Thursday evening's debate on CNN.
Romney repeated the lie that his tax rate is "closer to 45 or 50 percent" although he walked that back a tiny bit during the debate and used the number forty instead. Here's more from Think Progress -- Watch Mitt Spin: Romney Claims His Real Tax Rate Is ‘Closer To 45 Or 50 Percent’:
During an interview with Univision, Romney was pressed on whether it was fair for him to pay about 13 percent of his income in taxes — as he did in 2010, according to his recently released tax returns — when many middle class families pay far more. Romney proceeded to claim that his actual rate is “closer to 45 or 50 percent.” To justify his figure, Romney relied on his belief that “corporations are people.” When Univision’s Jorge Ramos asked Romney if his 13 percent tax rate is “fair,” Romney suggested adding the maximum corporate tax rate (35 percent) to his personal taxes to calculate his real rate [...]
Romney glosses over the fact that he is not a corporation and doesn’t pay corporate taxes. Additionally, most corporations pay far lower than a 35 percent rate. In fact, many profitable corporations pay nothing at all.
In the alternative, Romney suggested that his tax rate should be considered “almost 40 percent” because he gave a substantial amount of money to charity, mostly to the Mormon church. Romney should be lauded for his charitable contributions — and received a tax deduction for them — but charitable contributions are not taxes.
Transcript via CNN of his comments during the debate below the fold.
BLITZER: We're continuing the debate here in Jacksonville, Florida.
Let's get to the issue of transparency, because voters out there, they want to know as much about you four gentlemen as possible before they vote.
Tax returns -- let me bring this to Speaker Gingrich.
Earlier this week, you said Governor Romney, after he released his taxes, you said that you were satisfied with the level of transparency of his personal finances when it comes to this. And I just want to reiterate and ask you, are you satisfied right now with the level of transparency as far as his personal finances?
GINGRICH: Wolf, you and I have a great relationship, it goes back a long way. I'm with him. This is a nonsense question.
GINGRICH: Look, how about if the four of us agree for the rest of the evening, we'll actually talk about issues that relate to governing America?
BLITZER: But, Mr. Speaker, you made an issue of this, this week, when you said that, "He lives in a world of Swiss bank and Cayman Island bank accounts." I didn't say that. You did.
GINGRICH: I did. And I'm perfectly happy to say that on an interview on some TV show. But this is a national debate, where you have a chance to get the four of us to talk about a whole range of issues.
BLITZER: But if you make a serious accusation against Governor Romney like that, you need to explain that.
GINGRICH: I simply suggested --
GINGRICH: You want to try again? I mean --
ROMNEY: Wouldn't it be nice if people didn't make accusations somewhere else that they weren't willing to defend here?
GINGRICH: OK. All right.
Given that standard, Mitt, I did say I thought it was unusual. And I don't know of any American president who has had a Swiss bank account. I'd be glad for you to explain that sort of thing.
ROMNEY: OK. I will. I will. I'll say it again.
I have a trustee that manages my investments in a blind trust. That was so that I would avoid any conflicts of interest. That trustee indicated last week, when he was asked about this, he said that he wanted to diversify the investments that I had. And for awhile he had money in a Swiss account, reported in the U.S., full taxes paid on it, U.S. taxes.
There's nothing wrong with that. And I know that there may be some who try to make a deal of that, as you have publicly. But look, I think it's important for people to make sure that we don't castigate individuals who have been successful and try and, by innuendo, suggest there's something wrong with being successful and having investments and having a return on those investments.
Speaker, you've indicated that somehow I don't earn that money. I have earned the money that I have. I didn't inherit it.
I take risks. I make investments. Those investments lead to jobs being created in America.
I'm proud of being successful. I'm proud of being in the free enterprise system that creates jobs for other people. I'm not going to run from that.
I'm proud of the taxes I pay. My taxes, plus my charitable contributions, this year, 2011, will be about 40 percent.
So, look, let's put behind this idea of attacking me because of my investments or my money, and let's get Republicans to say, you know what? What you've accomplished in your life shouldn't be seen as a detriment, it should be seen as an asset to help America.
BLITZER: Mr. Speaker, I'm ready to move on, if you are.
BLITZER: I said I'm ready to move on to the next subject if you are.
GINGRICH: I'm happy to. I'm happy to simply say, you know, it would be nice if you had the same standard for other people that you would like applied to you and didn't enter into personal attacks about personal activities about which you are factually wrong. So I would be glad to have a truce with you, but it's a two-way truce.
ROMNEY: I'm happy on any occasion to describe the things that I believe with regards to the Speaker's background. We'll probably get a chance to do that as time goes on.
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