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Mitt Romney and free stuff
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mac



Joined: 07 Mar 1999
Posts: 5143

PostPosted: Wed Jul 25, 2012 2:56 pm    Post subject: Mitt Romney and free stuff Reply with quote

Just heard about this today.


Quote:
The Romneys declared a loss of $77,000 on their 2010 tax returns for the share in the care and feeding of Rafalca, which Mrs. Romney owns with Mr. Ebeling’s wife, Amy, and a family friend, Beth Meyers.


Now how much did George for his first company? And how much did Bush I give Bush II for his first 3 or 4? And imagine mrgybe's outrage at the idea that people who start businesses don't always do it by themselves?

Boy does this guy know how to create jobs--and free stuff for himself.
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combs



Joined: 01 Apr 1997
Posts: 57

PostPosted: Wed Jul 25, 2012 3:46 pm    Post subject: Reply with quote

Yep...The man pays $77K per year for a dancing horse:

http://youtu.be/H_w2_uqrbZw
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isobras



Joined: 17 Jul 2012
Posts: 439

PostPosted: Wed Jul 25, 2012 4:09 pm    Post subject: Reply with quote

Your point? It's his money, honestly earned and taxed, and he contributed to the establishment of >100,000 U.S. jobs in the process. Isn't the opportunity to do exactly that part of what makes this such a great and highly desired place to live? What's stopped you and me from duplicating his success? Not the government, at least until now.
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swchandler



Joined: 08 Nov 1993
Posts: 5774

PostPosted: Wed Jul 25, 2012 5:02 pm    Post subject: Reply with quote

I wonder if I have a chance in hell to take a tax write-off for my windsurfing equipment and expenses. Having had a history of heart disease, I use windsurfing to help keep myself healthy and in reasonably good shape. What do you think?
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combs



Joined: 01 Apr 1997
Posts: 57

PostPosted: Wed Jul 25, 2012 7:04 pm    Post subject: Reply with quote

CORRECTION: The Mittens wrote off $77K for a dancing horse as a business expense...perhaps you could write off your windsurfing equipment if you danced as cute...of course Dancing Horses are an Olympic event and windsurfing is no longer...
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isobras



Joined: 17 Jul 2012
Posts: 439

PostPosted: Wed Jul 25, 2012 7:47 pm    Post subject: Reply with quote

You're close ... NOT.

The original fabricator of this lie -- even the Democrats and so-called "journalists" who supported and repeated this claim knew it to be false -- admitted it was false, that the deduction was actually ... $50.

See http://tinyurl.com/bu2yrj7
including http://tinyurl.com/7ukwuc5 .

Gotta do your homework before hitting SUBMIT.
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windoggie



Joined: 22 Feb 2002
Posts: 2384

PostPosted: Wed Jul 25, 2012 7:48 pm    Post subject: Reply with quote

isobras wrote:
What's stopped you and me from duplicating his success?

His daddy vs my daddy? (I don't know about your daddy).

_________________
/w\
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windoggie



Joined: 22 Feb 2002
Posts: 2384

PostPosted: Wed Jul 25, 2012 7:52 pm    Post subject: Reply with quote

isobras wrote:
You're close ... NOT.

The original fabricator of this lie -- even the Democrats and so-called "journalists" who supported and repeated this claim knew it to be false -- admitted it was false, that the deduction was actually ... $50.

See http://tinyurl.com/bu2yrj7
including http://tinyurl.com/7ukwuc5 .

Gotta do your homework before hitting SUBMIT.

You ARE isobars! Do you still have your magic glasses on? Or can you see us all now?

_________________
/w\
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mac



Joined: 07 Mar 1999
Posts: 5143

PostPosted: Thu Jul 26, 2012 1:18 am    Post subject: Reply with quote

I'm not sure whether to be chagrined. This is the whole text:



Quote:
As millions tune into the Olympics in prime time this summer, just before Mr. Romney will be reintroducing himself to the nation at the Republican convention, viewers are likely to see “up close and personal” segments on NBC about the Romneys and dressage, a sport of six-figure horses and $1,000 saddles. The Romneys declared a loss of $77,000 on their 2010 tax returns for the share in the care and feeding of Rafalca, which Mrs. Romney owns with Mr. Ebeling’s wife, Amy, and a family friend, Beth Meyers.

It's of course true that curbing the deductibility of expenses related to the care and feeding of dressage horses might inhibit investment in the critical dressage sector of the economy. But I'm skeptical that incentivizing capital formation in this particular area is all that vital to the long-term prosperity of the country.



UPDATE: Some clarification here. The loss was over $77,000 but that only generated a $50 tax deduction. It's possible that the deduction will become much more valuable in the future if Rafalca generates fees.


If I read this right, he claimed a loss of $77,000--but it doesn't amount to a tax deduction--yet--because the horse didn't make enough money. But if the horse does....

I'm sure we all feel better now that we know that his loss on his wife's hobby--for a year--was more than the median family income.
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swchandler



Joined: 08 Nov 1993
Posts: 5774

PostPosted: Thu Jul 26, 2012 1:50 am    Post subject: Reply with quote

Maybe I've got it wrong, but it was my understanding that the dancing horse thing somehow has some bearing in lessening the impact or affect of Ann Romney's MS. Isn't she into riding and doing the dancing horse thing for her health and well being?
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