Americans Itemize News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Woman and child, and about half of it is untaxed profits held offshore. >> so how could romney not know that? i mean, this guy's a corporate shark. i mean, he's got to be lying about it. now, he also suggested the deduction cap could be set at $25,000 or $50,000 instead of his original suggestion of $17,000. now, how does that change the math? >> well, romney deducted $4 million in itemized deductions. that's more than twice what he paid in federal income tax in 2011. if he'd taken all of his charitable deductions it would have been more than $6 million. so were he to get this through, and i c...

That's more than twice what he paid in federal income tax in 2011. if he'd taken all of his charitable deductions it would have been more than $6 million. so were he to get this through, and i can't imagine the people backing him are going to be in favor of that by any stretch of the imagination, there might be some effect. but how many people do you know, ed, who make enough money to take $25,000 or $50,000 as a deduction? take a look at your tax return, folks. see how much if you itemize and only about one in three americans itemize, and if you've got $25,000 or $50,000, you're doing really ...