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Tax Returns

NATIONAL
September 21, 2012 | By Ralph Vartabedian and Mark Z. Barabak
Mitt Romney paid $1.9 million in federal taxes in 2011 on income of $13.7 million, an effective rate of 14.1% that reflects the Republican presidential candidate's dividends, capital gains and other returns that are assessed at some of the lowest tax rates. Romney's tax return, which he released Friday, showed that he boosted his effective tax rate by not declaring all of the $4 million in charitable contributions that he made during 2011, instead only reporting $2.3 million. By doing so he stayed consistent with an earlier public statement that his tax rate for the year would not drop below 13%. The return does little to fundamentally change the perception of Romney's finances.
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NATIONAL
September 18, 2012 | By Richard Simon
WASHINGTON -- The end is near. That is, the final days of the congressional session before the election. Reelection-minded lawmakers are scrambling to bring their pet causes up for votes before hitting the campaign trail. Among those causes: creating a check-off box on tax returns for voluntary contributions to pay down the national debt and recognizing the sites that developed the atomic bomb . Congress may have been labeled a do-nothing institution, racked by bitter partisanship, but it's nonetheless managed to pass legislation - even if that legislation has dealt with matters less consequential than the looming "fiscal cliff.
CALIFORNIA | LOCAL
September 6, 2012 | Evan Halper
As Gov. Jerry Brown mulls whether to sign into law another round of subsidies for Hollywood production companies, the question that confronts him is how much each job on a movie set is worth to taxpayers. In Massachusetts, lawmakers recently discovered a similar program was much more expensive than they thought. After years of subsidizing film productions without looking too closely at how that was helping the economy, state officials put it under a lens and found that taxpayers were spending as much as $300,000 to bankroll each position.
NEWS
September 4, 2012 | By Mark Z. Barabak
CHARLOTTE, N.C. -- Michelle Obama delivered an affectionate tribute to her husband Tuesday night as a man of courage and unshakable conviction, putting a warm gloss on an opening convention program filled with harsh attacks on Republican Mitt Romney. “I didn't think it was possible, but today I love my husband more than I did four years ago. Even more than I did 23 years ago, when we first met,” the first lady said in a prime-time speech carried live by the major TV networks.
NEWS
September 3, 2012 | By James Rainey
CHARLOTTE, N.C. - Mitt Romney must be wondering what he has to do to win the love of conservative stalwart William Kristol. The Republican presidential candidate might have thought he would earn some degree of insulation from Kristol's ideological and tactical arrows when he picked Kristol-favorite Paul Ryan as his vice presidential candidate. No such luck. Kristol, the Weekly Standard editor and onetime chief of staff to Vice President Dan Quayle, fired off a couple more salvos in what has been a long-running barrage against Romney; the most recent shots coming after what was supposed to be the Republican's Unity Conclave (read: Convention)
OPINION
August 31, 2012
Re "Romney defends overseas funds," Aug. 27 Why don't most Americans believe Mitt Romney when he says that he gained no tax benefits by investing money in funds based in the Cayman Islands and other overseas jurisdictions? Did he send his money there so it could get a tan? That's why people wonder if something unsavory happened. If Romney doesn't want people to think he's hiding something and avoiding the truth, all he has to do to stop the discussion is release 12 years of tax returns, just like his father did, and then the questions will vanish.
NEWS
August 30, 2012 | By David Lauter
TAMPA, Fla. - Declaring that “we deserve better” than the economic record compiled by President Obama, Mitt Romney accepted the Republican Party's nomination for president Thursday and said he had a specific plan to create “jobs, lots of jobs.” Speaking to what was almost certainly the largest - and perhaps the most consequential - audience of his almost six-year-long quest for the presidency, Romney lauded private enterprise and sought to...
NEWS
August 25, 2012 | By Seema Mehta
ST. PETE BEACH, Fla. - As Mitt Romney prepares to be officially named the GOP nominee, President Obama dismissed reports that he personally dislikes his rival, but said Romney has failed to live up to the requisites of running for president by not releasing more tax returns and has committed to extreme positions he will have to carry out if elected. “I can't speak to Gov. Romney's motivations,” Obama responded in an interview with the Associated Press when asked about one of his top advisors saying that Romney lacked a “core.” Obama added: “What I can say is that he has signed up for positions, extreme positions that are very consistent with positions that a number of House Republicans have taken.
OPINION
August 19, 2012
Re "For a better L.A., less parking?," Editorial, Aug. 16 I recently returned from a trip to Germany, Austria and the Czech Republic. In each country there was widespread use of bicycles and public transit. There are huge bike parking stations in all the major cities and a simple system of bike rentals. Additionally, there is a more tolerant attitude from pedestrians, who don't get irate at bicyclists who sometimes have to use the sidewalk when there is no bike path. Americans, and particularly Californians, need to rethink their right to drive.
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