Romney says he pays about 15 percent in income tax

[Homeslice]

Originally Posted by Papa_Complex

If you put $1,000,000.00 in an offshore account, then it's immediately worth $380,000.00 more than a million dollars that you kept in the US.

Not sure how you're coming up with that.

Unless his employer paid him under the table, that $1,000,000 is after-tax money. It isn't going to be taxed again. Only the return he makes on it will be taxed.

[Papa_Complex]

Originally Posted by Homeslice

Not sure how you're coming up with that.

That $1,000,000 is after-tax money. It isn't going to be taxed again. Only the return he makes on it will be taxed.

Because I'm talking about $1,000,000.00 gross income, before taxes. If your money isn't being taxed, you have more.

[Homeslice]

Originally Posted by Papa_Complex

Because I'm talking about $1,000,000.00 gross income, before taxes. If your money isn't being taxed, you have more.

Sure, as long as he gets that income from sources that don't automatically deduct taxes. Not sure how it was handled at Bain Capital.

[Papa_Complex]

Originally Posted by Homeslice

Sure, as long as he gets that income from sources that don't automatically deduct taxes. Not sure how it was handled at Bain Capital.

Paid from offshore income sources?

[Homeslice]

Originally Posted by Papa_Complex

Paid from offshore income sources?

Wouldn't doubt it

[EpyonXero]

Originally Posted by Homeslice

Not sure how you're coming up with that.

Unless his employer paid him under the table, that $1,000,000 is after-tax money. It isn't going to be taxed again. Only the return he makes on it will be taxed.

I doubt he has tax withheld from his speaking fees before he gets the check.