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This is Romney (the word-dancer) admitting this.  Rachel Maddow pointed this out tonight.  During the GOP presidential debate the half-dozen or so candidates were debating tax plans.  Newt Gingrich said that under his tax plan there wouldn't be any taxes on capital gains.  Somebody asked Mitt about his tax plan.  He pointed to his right (stage left) in the direction of Newt and said, "under his plan (Newt's tax plan) I wouldn't pay any taxes the last two years (I assume 2009-2010)".  

With any logical reasoning he just admitted that he didn't have any taxable income, and by deductive reasoning, only capital gains.

 In tax accounting this isn't called income (meaning ordinary income taxed at a maximum of 35%), it's called capital gains and is taxes at 15%.

Senator Reid may be correct, he hasn't paid any income taxes in the last 10 years (only capital gains taxes).

This is parsing the meaning words, or word-dancing, but Romney may be telling the truth, and Harry Reid may be telling the truth.  

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