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Thread: Romney reveals he pays about 15% in taxes(edited)

  1. #101
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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by Blue_State View Post
    Not bad. I like the fact it promotes investment. People will still freak out that a hedge fund guy who lives on dividends alone will be making far more.
    Dividends are already taxable income. But, they are only taxed at 15% to 0%.

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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by Rhapsody1447 View Post
    I'm confused. Does Romney's class enable him to pay a lower rate than people in lower classes?
    No, the tax code does.

    Understand?

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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by AdamT View Post
    Whether or not Berkshire owes back taxes is under dispute, and has nothing at all to do with Buffet's opinion that he and other billionaires are personally undertaxed.
    Of course... do as I say, not as I do. Right ?

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by Gill View Post
    Of course... do as I say, not as I do. Right ?
    Show me where Buffett has said that corporations should not have the right to challenge IRS assessments and I'll happily concede your point.

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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by AdamT View Post
    Show me where Buffett has said that corporations should not have the right to challenge IRS assessments and I'll happily concede your point.
    For ten years ????

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by teamosil View Post
    Er, where do you think the 1% gets their money? They skim percentages off the work and purchases and whatnot of the 99%. Without the 99%, the 1% has no income whatsoever, their companies all shut down immediately, etc.
    Since the 1% own 34%, top 10% own 70% of the wealth I see no reason for them to need more income.

    To answer your question, if the 1% just magically disappeared tomorrow, their wealth would one way or another work it's way into the hands of non-1%ers (that's all that's left) so the
    Can you define ‘one way or another’ specifically?

    Ultimately whatever money they took out would have to come from a 99%er who was buying up their shares.
    With their 30% part of the wealth?

    The 99%er would be getting it at a very low price because of the huge selling panic. So, effectively, by liquidating all their assets they would just be transferring ownership of all the companies to 99%ers are a very low rate. The values of those companies would eventually return to a reasonable P/E ratio, and the 99%ers would become rich. So, again, massive win for the 99%ers.
    Eventually, maybe so but would the 99% patiently wait for the pain to subside?

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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by teamosil View Post
    You're on a thread about him paying much lower taxes than working people... Is that your impersonation of a person who works? Or what?
    Its my impression of the 40-50% who pay no federal income taxes while pissing bitching and moaning about those who pay all kinds of taxes..
    Last edited by jamesrage; 01-18-12 at 12:11 PM.
    "A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murder is less to fear"

    Cicero Marcus Tullius

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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by TurtleDude View Post
    My BS detector just redlined. and like most lefties you ignore the real issue-actual dollars paid in taxes vs benefits received for those dollars.
    You have no idea what "benefits" you have received for your tax dollar. But it is safe to say that you underpaid like most in your bracket. Don't worry though, your free ride is about to be over. It's time to rejoin the rest of us on the path to greatness.
    Last edited by iguanaman; 01-18-12 at 12:06 PM.

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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by Gill View Post
    For ten years ????
    The dispute concerns a single issue. Berkshire's NetJets Sues IRS Over Tax Bill - WSJ.com

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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by teamosil View Post
    You're on a thread about him paying much lower taxes than working people... Is that your impersonation of a person who works? Or what?
    No, he's on a thread where the majority of posters don't understand what Romney said. He was talking about his Effective Tax Rate, not what bracket he's in. Most people don't even know what that is -- he does. Ya'll should, too.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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