Bain under investigation for tax evasion

UncleBuck

UncleBuck

Well-Known Member
basic story is that they took about a billion dollars worth of managaement fees, which would be taxed as normal income, and used magical underwear to turn them into investements so that they get taxed at a much lower rate.

even though bain benefits from this practice and romney benefits from bain, romney has denied any benefit. obviously "benefiting from" does not carry the property of transitivity that common sense would dictate it carries.

http://www.forbes.com/sites/rickungar/2012/09/01/bain-capital-under-investigation-for-tax-avoidance-romney-denies-any-benefit/
 
B

beenthere

New Member
Tax evasion? LOL

I believe you mean tax avoidance, only lop like you Bucky!
You struggle when it comes to issues about taxes don't you. LMFAO
 
BadDog40

BadDog40

Well-Known Member
beenthere said:
Tax evasion? LOL

I believe you mean tax avoidance, only lop like you Bucky!
You struggle when it comes to issues about taxes don't you. LMFAO
Click to expand...

[h=2]TAX EVASION[/h] Section 7201 of the Internal Revenue Code makes it a Federal crime or offense for anyone to willfully attempt to evade or defeat the payment of federal income taxes.
 
C

ChesusRice

Well-Known Member
I still think ROmney doesnt want to show his tax returns becuase he is cheating his church out of their 10%
and in the LDS if you havent tithed your 10% you cannot enter the temple
 
BadDog40

BadDog40

Well-Known Member
ChesusRice said:
I still think ROmney doesnt want to show his tax returns becuase he is cheating his church out of their 10%
and in the LDS if you havent tithed your 10% you cannot enter the temple
Click to expand...

It's because Romney gets Federal refunds due to money shifting and off shoring so the church actually pays him.
 
B

beenthere

New Member
BadDog40 said:
TAX EVASION

Section 7201 of the Internal Revenue Code makes it a Federal crime or offense for anyone to willfully attempt to evade or defeat the payment of federal income taxes.
Click to expand...
What good is giving a useless definition, thought you were on to something? LOL
Looks I found someone dumber than Bucky when it comes to taxes, who'd of thought!

Tax avoidance is the legal utilization of the tax regime to one's own advantage, to reduce the amount of tax that is payable by means that are within the law.
 
B

beenthere

New Member
BadDog40 said:
It's because Romney gets Federal refunds due to money shifting and off shoring so the church actually pays him.
Click to expand...
He gets federal refunds because his money is off shoring? LOL
His offshore capital is taxed at the same rate as it is in the US, been out of the backyard much BadDog?
 
UncleBuck

UncleBuck

Well-Known Member
beenthere said:
What good is giving a useless definition, thought you were on to something? LOL
Looks I found someone dumber than Bucky when it comes to taxes, who'd of thought!

Tax avoidance is the legal utilization of the tax regime to one's own advantage, to reduce the amount of tax that is payable by means that are within the law.
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yeah, i'm sure bain is under investigation because everything they did was perfectly legal and ethical :lol:

by the way, it's "who would HAVE thought". brush up on that second grade grammar of yours.
 
N

NoDrama

Well-Known Member
UncleBuck said:
yeah, i'm sure bain is under investigation because everything they did was perfectly legal and ethical :lol:

by the way, it's "who would HAVE thought". brush up on that second grade grammar of yours.
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So anyone that is "Investigated" is automatically guilty? Do you presume everyone guilty that has ever been charged or arrested? I mean they wouldn't ever arrest an innocent person right? Never happens, never. Only guilty people are investigated only guilty people are ever arrested and only guilty people are accused.

I accuse you of Murder, you must be guilty because I would NEVER accuse an innocent person.
 
desert dude

desert dude

Well-Known Member
So, Obama's opponent in the presidential election is suffering the persecution of Obama's government? No conflict of interest there.

This will come to nothing, but the Obama fellators will slurp and swallow.
 
UncleBuck

UncleBuck

Well-Known Member
desert dude said:
So, Obama's opponent in the presidential election is suffering the persecution of Obama's government? No conflict of interest there.

This will come to nothing, but the Obama fellators will slurp and swallow.
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the new york attorney general is elected by and answers to the people of new york, not obama.

you might want to try that big cup of shut the fuck up before you make yourself look like an idiot again.
 
haight

haight

Well-Known Member
UncleBuck said:
basic story is that they took about a billion dollars worth of managaement fees, which would be taxed as normal income, and used magical underwear to turn them into investements so that they get taxed at a much lower rate.

even though bain benefits from this practice and romney benefits from bain, romney has denied any benefit. obviously "benefiting from" does not carry the property of transitivity that common sense would dictate it carries.

http://www.forbes.com/sites/rickungar/2012/09/01/bain-capital-under-investigation-for-tax-avoidance-romney-denies-any-benefit/
Click to expand...
--The New York AG’s Taxpayer Protection Bureau has issued subpoenas to at least twelve financial firms, including Bain, looking into whether the companies converted management fees (taxed as ordinary income) paid by investors into fund investments which are taxed at a dramatically lower rate.--

If they're looking into it then they muct be guilty. What say you Uncle BS?
 
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