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

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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
    So it reveals that it is NOT discriminatory. But of course opinions vary as I pointed out previously and is obvious.



    Well no $800k is $800k. But if I made $800k in wages then invested it, kicked back and profited $800k in cap gains on it I would then have $1.2m. If I had worked hard and made another $800k in wages I would have $1.04m. So yes, in the end they DO spend differently as the net sum is greater.
    But you are changing the entire reality of what I gave you. Why would you do that? That is intellectually dishonest.

    The point is that a pile of 800K looks like any other pile of 800K.
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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by j-mac View Post
    So what? Anyone can have a capital gain, that is what you just said, even though you tried to diminish the significance of that revelation from you by being snarky about it. The fact remains that ANYONE can enjoy a capital gain. Which means that the Tax on a capital gain for you is the same for Romney on his capital gain. So your claim of it being discriminatory is patently false. Therefore, a lie.



    I think you fully understand the how of why your path with this is deceitful. However, if you truly don't then I suggest you educate yourself on the difference between wage, and investment.

    I will however provide you with this...



    This was the finding of our elected representatives. So, from this point on if you continue to label this falsely, I will continue to call you on it every time. Your lie will not stand.

    j-mac
    you would not know the meaning of the word LIE if it bit you in the posterior and spat out the contents on a plate presented to you with your name engraved upon it. If you have two stacks of $800K in front of you - how do you tell the fundamental difference between the one earned in wages and salary and the one earned in capital gains before they are taxed?

    Answer that.......... if you can.
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    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

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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
    How did the higher capital gains rate under Reagan and Clinton harm the economy? We created 22 million jobs under Clinton.
    I know you are not asking me, but, I don't think that the economic climates are the same, so how can the two be accurately compared?


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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
    Well it isn't income if it's a loss. Loss is the opposite of income. Investment income is your investment profits minus your investment losses. So I don't really see how that is an exception or something.
    You don't see the potential risk in investment vs a know income from labor?
    We again differ in the way we look at things and how they should be handled.
    I do thank you for your explainations and replys.
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    Re: Romney's tax rate is only half as high as the middle class pays

    Sorry to interrupt. I'm soooo anxious for Romney to disclose his income tax return. It just may be his undoing. And, as Haymarket has pointed out, a lightening rod for tax reform.
    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 MaggieD View Post
    Sorry to interrupt. I'm soooo anxious for Romney to disclose his income tax return. It just may be his undoing. And, as Haymarket has pointed out, a lightening rod for tax reform.

    Should be out tomorrow right? BTW....Anyone know which Obama media channel the debate is on tonight? I checked on my guide, and can't find it anywhere....Have the affiliates finally given up on debates?

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

    Quote Originally Posted by j-mac View Post
    Should be out tomorrow right? BTW....Anyone know which Obama media channel the debate is on tonight? I checked on my guide, and can't find it anywhere....Have the affiliates finally given up on debates?

    j-mac
    It's on NBC -- and thanks for the reminder. I'd'a forgot.
    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
    People roll the dice every hour of every day knowing that the house wins 80% of the time.

    If I win a million and the government claims a third, I am more than happy to keep that 2/3 I won. I would be one very happy citizen.
    and if the government said that you had successfully "invested" in your pension fund, and that an additional 1/3 of your pension now belonged to them?

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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
    Sorry to interrupt. I'm soooo anxious for Romney to disclose his income tax return. It just may be his undoing. And, as Haymarket has pointed out, a lightening rod for tax reform.
    the reactions to Romney's tax returns will basically break down into two types of people:

    1. "Wow, look at all the taxes he paid. He sure is supporting government services."
    2. "Wow, look at all the money he was able to keep. That greedy bastard I could have spent some of that on (insert favorite government project here)."


    Conservatives on this board have generally agreed to tax income from investments similarly to income from labor - which means ending the double taxation on it. When Haymarket et.al. are willing to actually tax income from investment similarly to income from labor, I'll take their claims that we should do so at face value. Until then, claims that we should bump up a nominal combined 50% rate to a nominal combined 70% rate remain simple demagoguery.

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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
    you would not know the meaning of the word LIE if it bit you in the posterior and spat out the contents on a plate presented to you with your name engraved upon it. If you have two stacks of $800K in front of you - how do you tell the fundamental difference between the one earned in wages and salary and the one earned in capital gains before they are taxed?
    one of the sacks represents 65% of my actual earnings from that income. So I would know which sack has already paid federal taxes.

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