Did Romney pay NO federal taxes in 2009?

[Lemon Drop]

Speculation, but plausible.

http://www.businessweek.com/articles/201...ax-returns

[john dough]

It would not surprise me one bit if this were the case. It keeps getting worse for him (not that I am any bit upset). If I were him, I would not release ANY tax forms as there is plenty of smoke there (and probably even more fire).

[mick e]

If true, gaming the system in such a way - knowing that he would be running for president again in 2012 - would make him an epic idiot, easily surpassing George W. Bush.

[hal]

I read that earlier today and I think that it just can't be the answer.

It would be so easy to defend that one:, "Hell yes, I didn't pay any taxes, I lost $50 million last year - of course I didn't pay any taxes"

I would rather deal with THAT mess than the one he has on his hands right now...

[Dennis S]

A great politician thinks ahead and prevents this kind of embarrassment. Like when Obama had those birth announcements placed in the Hawaii newspaper.

[Avenger]

>>"Hell yes, I didn't pay any taxes, I lost $50 million last year - of course I didn't pay any taxes"<<

My words exactly. I am surprised at the people here. One day they are financial experts, next they are totally clueless. You pay taxes on your AGI. If your AGI is negative, you don't pay taxes. So Mr. Lemon Drop, you didn't know that?

[Ted King]

[Lemon Drop]

Try reading the Business Week article first, then come back.

Romney could make millions and still not pay any taxes, the suggestion is not that he had "negative AGI."

How would this play to the average taxpayer/voter?

let's see
2009 sucked for them too. Their 401K evaporated, their home value tanked, their spouse lost a job. But they still left Uncle Sam a pretty good tip. And this guy made millions and is worth hundreds of millions and paid...zilch?

Legal or not, it's political cyanide.

[Avenger]

>>Try reading the Business Week article first, then come back.
<<

I did and that was the only explanation. Picking 2009 is not a coincidence. So you tell me, how else could he not pay any taxes?

[Lemon Drop]

It's safe to assume you're not an accountant.

"And it’s possible he suffered a large enough capital loss that, carried forward and coupled with his various offshore tax havens, he wound up paying no U.S. federal taxes at all in 2009."

This does not mean he had no income.