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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 haymarket View Post
    ...ivory tower books...
    That's racist!

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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
    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?
    Not so, the Democrats provided a tax credit for the working class and small businesses in 2009. The Democrats also opposed extending the payroll tax cuts for the wealthy and the GOP threatened to withhold unemployment payments. The Democrats put up a bill in 2010 to let the tax cuts expire for the rich, but not for those that made $250,000 or less, and the GOP blocked it. The Democrats put up the American Jobs Act that would have have increased taxes on the rich to pay for it and the Republicans blocked it.

    Now we have the top runner in the GOP primary that as admitted he only paid 13.9% taxes on his multimillion dollar income who promised to cut taxes for the rich even further. That ain't going to fly with the working class, and judging by the boos he received in SC over his evasion of the tax questions, I don't think he is even going to get much support from the working class in is own party.
    Last edited by Catawba; 01-24-12 at 03:54 PM.
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    Re: Romney's tax rate is only half as high as the middle class pays

    i have the solution to EVERYONES problems...everyone that makes over a million dollars should simply...stop. Pull all of the money out of investment accounts...move all your assets to Swiss bank accounts in non-interest bearing savings accounts. Completely and fully stop investing...in EVERYTHING. EVERYONE is happy. the poor are happy because the rich are no longer exploiting the markets and creating greater wealth for themselves. The rich are happy because they are no longer deemed the evil bad guys. No one could complain about Romney's tax holdings on his income because he wouldnt have any. No one could possibly complain about the democrats wealth beca...no...wait...no one complains about their wealth already. So...win...win! What could POSSIBLY be the downside?

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

    Quote Originally Posted by VanceMack View Post
    i have the solution to EVERYONES problems...everyone that makes over a million dollars should simply...stop. Pull all of the money out of investment accounts...move all your assets to Swiss bank accounts in non-interest bearing savings accounts. Completely and fully stop investing...in EVERYTHING. EVERYONE is happy. the poor are happy because the rich are no longer exploiting the markets and creating greater wealth for themselves. The rich are happy because they are no longer deemed the evil bad guys. No one could complain about Romney's tax holdings on his income because he wouldnt have any. No one could possibly complain about the democrats wealth beca...no...wait...no one complains about their wealth already. So...win...win! What could POSSIBLY be the downside?
    Realistically, we can't even get off oil yet without disrupting the international markets beyond repair. It will take a 20 year transition period if we start RIGHT NOW. The poor, middle class and wealthy are interwoven beyond detanglement without severe repercussions for all classes. It's the small details that we're fussing over when larger decisions are needed, and soon.
    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 grip View Post
    Realistically, we can't even get off oil yet without disrupting the international markets beyond repair. It will take a 20 year transition period if we start RIGHT NOW. The poor, middle class and wealthy are interwoven beyond detanglement without severe repercussions for all classes. It's the small details that we're fussing over when larger decisions are needed, and soon.
    I dont know...seems to me 'the rich' could make everyone happy if they just completely pulled out of every market.

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

    Quote Originally Posted by teamosil View Post
    The median effective tax rate in the US is 27%. That's how much the typical American pays between state and federal taxes. Megamillionaire robber baron Mitt Romney, however, only pays 15%.

    That is not uncommon at all for the superrich. They do not pay many of the taxes middle class people pay at all- no FICA, no unemployment, no disability, etc. And many of the taxes that apply to a large portion of middle class's income- sales, property, vehicle, etc- apply to only a very tiny percentage of the income of someone as wealthy as Romney, so in effect, they don't really pay those either.

    But, you might think, we have a progressive income tax system. Certainly the super rich get hit up on that one. But, nope, they don't. The progressive income tax system really only affects up to upper middle class people. People in really high paying jobs pay 35%, in addition to the other taxes listed above. But once you break past that into the super rich, they don't get paid in wages, they get paid with equity, and equity is only taxed at a measley 15%. So, in addition to being excused from most types of taxes, they get a 20% reduction in their tax break because they don't have to work to make their income.

    Romney reveals he pays about 15% in taxes - CNN.com
    Romney is a millionaire. He pays 35% on his net income, just like anyone else that is a millionaire.

    Please, tell me this isn't another one of thise situations where people don't understand the difference between gross income and net income.
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    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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

    Quote Originally Posted by VanceMack View Post
    I dont know...seems to me 'the rich' could make everyone happy if they just completely pulled out of every market.
    Every economy would collapse because wealth is intrinsic anymore. The markets need more oversight in areas of exotic investment tools because they're generally scammy in nature. They (banks) have been using them to create imaginary value or wealth then trading it out for real cash, such as the bailouts. It's a bunch of con artists with deep pockets.
    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 grip View Post
    Every economy would collapse because wealth is intrinsic anymore. The markets need more oversight in areas of exotic investment tools because they're generally scammy in nature. They (banks) have been using them to create imaginary value or wealth then trading it out for real cash, such as the bailouts. It's a bunch of con artists with deep pockets.
    Of COURSE every market would collapse...and there wouldnt be anyone to pay the fed taxes...and unemployment would skyrocket. And you know what...maybe just maybe thats what needs to happen. All the whiny little ****s might then stop for a second and reconsider just what the wealthy people in this country DO bring to the table. But of course...the wealthy should do it in the name of LOVE. We understand. We hear you. We are going to strive to be JUST LIKE YOU. You know...parasites.

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

    Quote Originally Posted by VanceMack View Post
    i have the solution to EVERYONES problems...everyone that makes over a million dollars should simply...stop. Pull all of the money out of investment accounts...move all your assets to Swiss bank accounts in non-interest bearing savings accounts. Completely and fully stop investing...in EVERYTHING. EVERYONE is happy. the poor are happy because the rich are no longer exploiting the markets and creating greater wealth for themselves. The rich are happy because they are no longer deemed the evil bad guys. No one could complain about Romney's tax holdings on his income because he wouldnt have any. No one could possibly complain about the democrats wealth beca...no...wait...no one complains about their wealth already. So...win...win! What could POSSIBLY be the downside?
    Go for it! A lot of that money is already overseas anyway. I'm going to hang around here with the rich people not too greedy to pony up an extra 5% on their capital gains taxes to make their country more prosperous and with the labor force that is the backbone of production. I hear Somalia is nice this time of year though! See ya!
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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
    Go for it! A lot of that money is already overseas anyway. I'm going to hang around here with the rich people not too greedy to pony up an extra 5% on their capital gains taxes to make their country more prosperous and with the labor force that is the backbone of production. I hear Somalia is nice this time of year though! See ya!
    How is another 5% on capital gains going to going to make the country more prosperous?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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