Romney family's dressage horse-related tax deductions last year exceeded median U.S. household income

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Those Romneys! Just your typical Leave It to Beaver family, spending $1,000 on saddles, six figures on dressage horses, and who knows what on practical jokes, switcheroos, and oopsies!

Who couldn't relate to this? He feels our pain, it's so obvious:

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.

Why, he's just like you and me. No wonder he likes meatball hoagies and "chocolate goodies" so much!

H/t: Andrew Kaczynski

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  • http://profile.yahoo.com/3GG5BXIWC3KRNDH3BTSODTP3K4 Tim Schorer

    She has MS and deducts the expenses associated with riding as it is"therapy" for her MS. What I don't understand is how a candidate who pledges to do away with Romneycare would ask the american taxpayers to fund any medical expenses he has.

  • Paddy

     Sigh, I'm having a rough night over stuff like this, but thank you so much for taking care of the least of us. So tired of the lies and bullshit.

  • srg

    I care for several abandoned animals (about 12 total) and spend quite a pretty penny on
    veterinary bills and food.  I would be thrilled if I could deduct the annual  expense....but I
    guess only the super rich get the tax deduction:(

  • Joanne Rosenthal

    I spent a small fortune on my dogs this year..is that deductible?

  • G

    Listen morons..if you buy a horse for 100,000 and sell it for 75k because the market crashed and you are trying to make money off it the its a 25k loss...Dont vote for him because his family buys and sells horses or trains them??? Your right its better to have a President who just pays everyone who got him elected with tax payers dollars and goes on expensive vacations with his wife while we struggle.....please dont be s retarded and jealous because he can buy things you cant.

  • http://www.facebook.com/ryan.russell.735 Ryan Russell

    Any news on whether each partial owner took a $77,000 LOSS on taxes. Surely this isn't something the RMoney's would leave for simple matters. There must be greater truths...

  • Cjbowers2007

    that animal is not a pet as you know....it is an olympic athlete and the advantage here is that he never rides it just pays...I thought I might list mine as "specialized installed fertilization units 1-4" and write them off that way

  • Adolphus A. Busch

    I had hoped by using the term "GADZOOKS" most people would understand that it was sarcasm. Point noted though.

  • Just Wondrin

    How did her doctor allow the deductions? He's not a tax attorney or IRS agent.
    Using that thinking, people on medical pot should be able to deduct the cost of growing it.

  • Just Wondrin

    You can deduct your losses up to the amount that you actually won. But you have to show your winnings, too.

  • Just Wondrin

    Only those stupid enough to vote for him deserve it-not the rest of us.

  • Just Wondrin

    My cat's tail was used as a model for a sculptured cat on a carousel ride,  which will be displayed and used for the public's use. Does this mean I get to deduct her upkeep?
    I doubt it. Mere citizens don't get those perks-only gazillionaires.

  • Siouxsie_ramone

     But for farmers, it's their livelyhood, not an extremely expensive hobby.

  • Siouxsie_ramone

     I believe that this horse is going to the Olympics. Steven Colbert does a hilarious piece about it.

  • Susan

    Romney = (R)Money ... which is what he wants, OUR money !!!!

    Not surprising that he owns horses, since he's a jackass himself ...

  • June52012ab

    I moved to Canada when Bush was elected in 2004 (remember, he was only appointed in 2000). I'm very happy here, and have no intention of ever leaving.

  • boo

    or dogs I have 9 and had them for years.  Please tell me how ? 

  • http://www.facebook.com/people/Jason-Van-Steenwyk/1067420567 Jason Van Steenwyk

    Yes. You deduct the extent of your gambling losses from your winnings. So you're only taxed on net gambling winnings, not the whole thing.

  • j.g.nevins

    when i had my ranch and had horses to use for ranch work i could not write them of even tho  they were used for ranch work so the romneys must be defrauding theirs

  • http://twitter.com/WakeUpAmerica62 LJ

    For those wondering about the deduction (as I am) -  If they are running their horses as a business, they can deduct expenses, but they are expected to be making a profit after a few years.  Also, if they have donated the horse to the Olympic team for this competition cycle, the expenses are deductible.  The odd thing is that their share seems to be 1/3.  The care (grooms), board and feed, training, and vet fees should not be as high as $212,000 and the Olympic Committee should be picking up the cost if he is donated (temporarily).  There is little to no prize money involved in Dressage competition, unless things have changed drastically since I competed.

  • http://www.facebook.com/profile.php?id=501915913 Roger Wolsey

    Wait. why is anything to do with owning a horse tax-deductible? Is the horse a therapy horse? If not, then WTH?

  • Freckleknees

    Actually, camanokat is exactly right. Government spending under Obama is at its lowest in half a century. Effective corporate tax rates are the lowest they've been in decades. Corporate profits are at their highest, well, ever. More private sector jobs have been created under Obama than under his predecessor, and public sector employment has actually gone down, by roughly 600,000 jobs.

  • camanokat

     Obama has spent far far far less than Bush...I think the number is 1% of what the idiot spent.  He's being blamed for the unaccounted wars that Bush started but didn't fund.

  • melizer

    Oh, I did wonder why they seemed obsessed with awarding each other prizes.  Heckuva job, Brownie!

  • Go99perccent

    I saw this coming she is a world class rider, but she uses the horses for unusual medical expenses for her special ms treatments...her doctor allowed the deductions as a medical expense...american kids are dying from lack of heath care and she off riding her horses and we are paying for it.

    don't seem fair to me 

  • Adolphus A. Busch

    So farmers can deduct livestock? GADZOOKS 

  • http://twitter.com/UltraVerified UltraVerified

    That's just awesome > LOL >> LOL >>> LOL 

  • http://www.facebook.com/people/Glenna-Jones-Kachtik/1258771759 Glenna Jones-Kachtik

    He looks uneasy in a button down shirt without a tie & his suit coat.  Just one of the guys wouldn't have to search for the word donut.    Chocolate goodies?????

  • Sp8ky

    Its not just the rich. I grew up on a farm my family claims losses on animals all the time, and we are not rich. When I was 18 I bought livestock and claimed about $5,000 in loses.  

  • cathy

    So does each owner deduct $77,000 ?  Close the loopholes in the tax code--that is ridiculous!

  • phallen1

    My Little Pony!
    I used to wonder what tax shelter could be,
    Until the Romneys shared its magic with me!

    We spent more on feed and gear
    Than average folks see in a year!
    Showing horses is an easy way
    To a London-based tax holiday!

    You have My Little Pony!
    Don't you know that you're my best tax write-off!

  • http://pulse.yahoo.com/_UQOYK46WYVCVRBC4GRAMHN6X3I Suzy the Reiki Lady

    I also "lost" a butt-ton of money in the care and feeding of my horse; where's my tax deduction?

  • Rock

     And I WILL move to Scotland if he is elected.

  • http://profile.yahoo.com/ZRNTWQ7M67CP2GPYPJJDAI5CII donf

    declared a loss?  why is "care and feeding of a horse" deductible???

  • toptwome

    Romney is so highfiluting he doesn't even know what a donut is.  That is way way off the normal lives of middle class Americans.

  • Levisol98

    let's be smart enough and not elect "the state highway patrolman".

  • RustyCannon

    Actually, yes you can. But you have to be able to prove your losses with receipts. And if you don't win anything, there's nothing to deduct from.

  • http://www.facebook.com/joanne.conrad Joanne Conrad

    If he were to make it to the White House we would be paying for gold toilet seats and food flown in from Europe not the chef.
     

  • http://www.facebook.com/joanne.conrad Joanne Conrad

    Soon he will be deducting the reduction of interest earned on his off shore accounts, but this one is just plain a vision that has blurred my eyes from any respect for him at all.  Has trouble coming up with his tax return and now has a four year plus wage for me as a senior as a loss.  that is just beyond belief.  No wonder he doesn't want people to see his tax return.,
     

  • Mrjmd5

    Agreed.  Ready to watch it all burn to the ground?

  • Murkel

    So you think 3900 or thereabouts covers room and board for a kid? Wow!

  • http://www.facebook.com/people/Karen-Green/1218307463 Karen Green

    Actually you do take a deduction on their room and board-it is called an exemption.  

  • shefflad

     Actually, you can. 

    Unbelivable, but true, as long as you have a paper trail.

  • Jim C

    You might be on to something , maybe you could incorporate them , then declare they're operating at a loss , hell you might even be eligible for government subsidies . Then try having your new corporate kids dig for oil in the back yard , if they don't find any you just might be able to have your house , yard , kids everything declared a loss , The government would then rebate you for your corporate losses and you're home free , literally .

  • Jim C

    Or any conservative .

  • ORAXX

    A country that would elect Mitt Romney deserves what ever happens to it.

  • JoeR

     I am looking to enter my kids in competitions so I can deduct their room and board.

  • http://pulse.yahoo.com/_DW7LHDQQLRH5RQG2AGEXP35QGM Mr. B

    "The Romneys declared a loss of $77,000 on their 2010 tax returns for the share in the care and feeding of Rafalca . . . "

    Oh well -- at least they didn't strap the horse to the roof of their car and go on a trip . . . did they?

  • David Dwyer

     So I can deduct the cost of trip to Vegas, and all the coin
    I fed into the slots from the meager "winnings" I come home with?

  • Iagoat

     They probably have their horses set up as a business.  That is the only way you can deduct them.  Or if you show and win prize money you can deduct your expenses to offset the prize winnings.

  • Capo

    How can you legally claim losses on caring for your pets? If this is legal, please tell me how I can declare losses on my taxes for paying for feed and board of my own two horses!

  • http://twitter.com/damspahn Dam Spahn

    So the rich get to deduct tens of thousands on caring for a freaking horse? Yeah, they need another tax break. They are what they are: greedy, self-centered, entitled, spoiled brats.