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

  1. #1111
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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
    So anyways, lets try it again.

    True of false- Romney pays approximately half the percentage of his income in taxes that the average American does.
    This post has been about Romney's effective tax rate on his Federal income tax. Your question cannot even be answered...#1, he hasn't released his income tax form; #2, neither you nor anyone else knows how much he pays in various other taxes.

    However, IF his effective tax rate on his income is indeed 15%, it is far higher than the average American. And that is what Romney was referring to...as much as you'd like to spin it otherwise.

    The median household income in the United States is about $46,000. A household with 2 children (single parent) and a mortgage deduction of $9,000 a year pays an effective tax rate of 2.17%. The median income of a dual-earner household with 2 children is about $67,000. Their effective tax rate, with a mortgage deduction of $12,000 is 3.96%.

    You are completely 100% incorrect.

    Marginal and Effective Tax Rates
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  2. #1112
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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
    wrong. half the country doesn't pay any income taxes and none of you have come close to guessing what Romney pays in total taxes as a percentage of his income and you don't even try to incorporate the death tax which has to be figured into his overall tax bill
    As you well know, income taxes make up less than half of federal revenues, and the middle class pay 90 % of the payroll taxes.

    So what reason does the working class have for continuing to vote for your tax cuts???
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  3. #1113
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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by MaggieD View Post
    However, IF his effective tax rate on his income is indeed 15%, it is far higher than the average American. And that is what Romney was referring to...as much as you'd like to spin it otherwise.
    Nope, that's not the question I'm asking. The question I am asking is:

    True or false- Romney pays approximately half the percentage of his income in taxes as the average American.

    All taxes, not just one kind or another, all taxes. For the purpose of the question, assume that Romney was telling the truth when he said that he indeed pays 15% effective income taxes total, not just federal.

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

    Quote Originally Posted by Catawba View Post
    As you well know, income taxes make up less than half of federal revenues, and the middle class pay 90 % of the payroll taxes.

    So what reason does the working class have for continuing to vote for your tax cuts???
    Well, 47% of Americans are thrilled. They pay no income tax at all. Status quo's workin' pretty well for them.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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

    Quote Originally Posted by haymarket View Post
    And still no logical case made for the discriminatory preferential tax rates for capital gains which benefit mostly the wealthy.

    Lots of pontificating. But still no case made.
    Because Bill Clinton thought it was a good idea...

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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
    Nope, that's not the question I'm asking. The question I am asking is:

    True or false- Romney pays approximately half the percentage of his income in taxes as the average American.

    All taxes, not just one kind or another, all taxes. For the purpose of the question, assume that Romney was telling the truth when he said that he indeed pays 15% effective income taxes total, not just federal.
    For the purpose of this question, let's pretend the earth is flat. That is not what this thread is about. That is not what he meant. You're being absolutely ridiculous.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

  7. #1117
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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by MaggieD View Post
    For the purpose of this question, let's pretend the earth is flat. That is not what this thread is about. That is not what he meant. You're being absolutely ridiculous.
    Ok, so if when his taxes are released, it turns out that he was telling the truth and he does in fact pay a total of a 15% effective total income tax rate, will you answer then?

    Personally I can't imagine why he would have lied that he was paying LESS taxes than he actually is... If anything he would lie to claim he was paying MORE taxes than he really did... But, really, he'd be a fool to lie in either direction, since people will eventually find out. So I assume he was telling the truth.
    Last edited by teamosil; 01-23-12 at 12:40 AM.

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

    Quote Originally Posted by MaggieD View Post
    Well, 47% of Americans are thrilled. They pay no income tax at all. Status quo's workin' pretty well for them.
    Yet what you hide, or are unaware of, is that most those 47% work full time and pay a higher percentage of their total income in taxes of one form or another, than Romney and others do that receive their income primarily from investments.
    Last edited by Catawba; 01-23-12 at 12:45 AM.
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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
    Ok, so if when his taxes are released, it turns out that he was telling the truth and he does in fact pay a total of a 15% effective total income tax rate, will you answer then?
    I've already answered from that position. My post #1111. A 15% effective tax rate is much higher than the average American.

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

    Quote Originally Posted by Dickieboy View Post
    Because Bill Clinton thought it was a good idea...
    The tax rates for the rich were higher under the Republican presidents, Eisenhower, Nixon, Ford, and Reagan then they were under Clinton!
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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