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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 Catawba View Post
    Yes they do, read the Politfacts findings.
    I did. And it states: $50,000-a-year teacher, the equivalent rate(both income and payroll taxes ) in 2010 would have been 25.3 percent if single and without children, 19.9 percent if married without children, and 14.1 percent if married with two children under age 17.

    So when I said "And your 22% number doesn't count deductions. Add in a child, or get married, and that number drops to the low teens.", I was paraphrasing the article.

    Quote Originally Posted by Catawba View Post
    Not at all, we have increased the cap many times without increasing the benefits to the rich.
    Goto the SS.gov website, and start entering numbers. Once you hit the cap of $106,000/yr , no matter how much more you make, your benefits max out at about 3,600 a month. If they increase the cap, you can bet your arse that the max benefit will grow too.

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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
    FICA = Federal Insurance Contributions Act. Yes, it is called a tax. It is really an insurance premium.
    It comes out of my check.
    The government takes it.
    It contributes to by net pay.
    It is a tax.
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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by Meathead View Post
    Let me guess, another graduate of the Haymarket School of Economics?
    Would you like a pamphlet how you too can enroll, study long hours for several years and then be a graduate opening up the brave new world of government and finance to you?


    btw - the main things we look for in prospective enrollee are common sense and an understanding of the real world as opposed to kool-aid belief systems and ivory tower books about theories.
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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 Samhain View Post
    I did. And it states: $50,000-a-year teacher, the equivalent rate(both income and payroll taxes ) in 2010 would have been 25.3 percent if single and without children, 19.9 percent if married without children, and 14.1 percent if married with two children under age 17.

    So when I said "And your 22% number doesn't count deductions. Add in a child, or get married, and that number drops to the low teens.", I was paraphrasing the article.



    .
    Serious question here: in your opinion, based on what you presented to us, do you think there are people making average salaries in the 50K range who pay a higher effective tax rate than Mitt Romney?
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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
    Would you like a pamphlet how you too can enroll, study long hours for several years and then be a graduate opening up the brave new world of government and finance to you?


    btw - the main things we look for in prospective enrollee are common sense and an understanding of the real world as opposed to kool-aid belief systems and ivory tower books about theories.
    I really would like to see one of those pamphlets. Unfortunately, I am a university graduate but I was thinking that you might appeal to special needs students and the OWS crowd. I suspect that there your economic theories might be well received.

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

    Quote Originally Posted by Samhain View Post
    I did.
    Than I'm sure you saw that they averaged the results from all those in the $50,000 - $75,000 income range.


    Goto the SS.gov website, and start entering numbers. Once you hit the cap of $106,000/yr , no matter how much more you make, your benefits max out at about 3,600 a month. If they increase the cap, you can bet your arse that the max benefit will grow too.
    If you think so, post your evidence of when they increased benefits the dozens of times they have raised the SS cap?
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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
    So in your mind, the great offense was not the silly introduction of RACE into a thread about taxation but the fact that somebody noticed.

    You claiming that there was bigotry involved exists only in your mind. It is NOT in my post.

    Amazing. really amazing.
    You show your intolerance and over sensitivity to even the mention of race in any context by calling it silly, unless you're the inductor. Why is it silly if it makes a valid point? If he kept repeating it in an out of context manner then your recognizing and bringing it to attention is sincere. Otherwise it looks like you're the race baiter. By the way, I don't really believe that either by the limited amount you actually used it.
    Einstein, "science without religion is lame, religion without science is blind."

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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
    What does this have to do with the cost of tea in China, Cat?
    That SS taxes are used for general fund spending just like income taxes Maggie. Why do you think someone that makes their income primarily from investments should pay a lesser tax rate that someone in the middle class making $50,000?

    Unless the GOP can come up with a reasonable answer to that question, I am willing to bet they lose the election in November.
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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
    That SS taxes are used for general fund spending just like income taxes Maggie. Why do you think someone that makes their income primarily from investments should pay a lesser tax rate that someone in the middle class making $50,000?

    Unless the GOP can come up with a reasonable answer to that question, I am willing to bet they lose the election in November.
    They're going to lose the election regardless. Obama will win. But why are you blaming Republicans? Both parties have had perfect opportunities to change our tax code. And neither has done it. Surely you don't think that Democrats aren't benefitting from all of these legal loopholes?
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    Raise it up to the same rate as wages. Also garuntee I will be paid the rate I expect to get, the same as wages, and you got my vote. If I work and don't get paid the govt will help me get paid, if its the same on invetments I'm in.

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