Former Massachusetts Governor Romney released his tax return for 2011 (only four months late) and reported that he paid 14.1% federal tax on $13.7 million in income. That certainly shows everyone that he has never paid less than 13%. Or did he?
Apparently, in order to reach the magic 14.1% level, he under reported his charitable deductions for 2011. His return indicates that he contributed 16% of his income to charity. However, it appears that he and Mrs. Romney actually contributed 30% of their 2011 income to charity. That is laudable, don’t get me wrong. But it took Mitt and his accountants four months to figure that reporting 30% in charitable deductions would reduce his tax burden to less than 13%. Of course, Mitt has said that he never pays less than 13&, no, no, no.
Just like he retroactively exited Bain Capital in 1999, he apparently has gone back in time to fix his tax return. It was easier this time since he only had to travel back to 2011 from 2012 to fix his charitable contributions to the magical 16%. The guy is an genius, he has discovered time travel.
Now that I mention it, didn’t DeLorean have some problem with funny numbers too?