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

  1. #141
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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by liblady View Post
    i am demanding that the wealthy pay at least the same rates i do, plain and simple. all income should be taxed at the same rates. i will also add that everyone can't just pick up and move. i can buy a house here for 50k, but there are no jobs here.
    I believe that everyone should pay the same tax rate.Personally I think it should be a national sales instead of a income tax. The more you spend the more you pay and the less you spend the less you pay but it is actually fair seeing how everyone would be paying the same tax percentage rate.
    "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

  2. #142
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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by jamesrage View Post
    I believe that everyone should pay the same tax rate.Personally I think it should be a national sales instead of a income tax. The more you spend the more you pay and the less you spend the less you pay but it is actually fair seeing how everyone would be paying the same tax percentage rate.
    i think a progressive scheme is fine, but all types of income should be subjected to that progressive scheme. there is no way that a family making 40k should have to pay a higher percentage of their income in taxes than a family making 100k. period. a national sales tax could cause exactly that.

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


  3. #143
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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by jamesrage View Post
    I believe that everyone should pay the same tax rate.Personally I think it should be a national sales instead of a income tax. The more you spend the more you pay and the less you spend the less you pay but it is actually fair seeing how everyone would be paying the same tax percentage rate.
    You realize that your own taxes would go way up, right?

    There's nothing fair about a sales tax. Poor and middle class people spend all, or almost all of their income. Thus they would be taxed on all, or most of their income. Wealthier people are able to save and invest much more, so a rich person might only be taxed on 10% of his or her income. This has been shown in VAT countries.

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

    Quote Originally Posted by iguanaman View Post
    It depends on how much growth you want in the economy. Raising rates on top earners even a few % has proven to increase private investment in business and even lower unemployment and raise average salaries.
    In fact, in the aftermath of the Clinton tax increase, the economy grew at an impressive 4 percent per year, adding an average of around 240,000 new jobs every month.
    Imagine the growth that a top rate of 50% would bring.
    Imagine what a top rate of 100% would do ??

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





  5. #145
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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by liblady View Post
    people who make millions of dollars a year should NOT have a lower rate than i do, period. it's unconscionable.
    They don't.

    Everyone with the same salary pays the same in taxes if their deductions are the same.

    Everyone with the same income from capital gains pays the same in taxes if their deductions are the same.

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





  6. #146
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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by liblady View Post
    i think a progressive scheme is fine, but all types of income should be subjected to that progressive scheme. there is no way that a family making 40k should have to pay a higher percentage of their income in taxes than a family making 100k.
    Then you should be fine with the current tax structure. A family making $40k either pays 0% or actually -0% in federal income tax.

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

    Quote Originally Posted by misterman View Post
    That's not what the slogan refers to. Nice straw man.
    the slogan refers to nothing. it's just a trite and meaningless way of attempting to justify taking from others to give to ourselves by making it sound somehow as if they had it coming.

  8. #148
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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by jamesrage View Post
    I believe that everyone should pay the same tax rate.Personally I think it should be a national sales instead of a income tax. The more you spend the more you pay and the less you spend the less you pay but it is actually fair seeing how everyone would be paying the same tax percentage rate.
    Really? It seems fair to you that 100% of most peoples income would be taxed while those at the top pay tax only a small %? In a economy where 75% of it is consumer spending you think we should penalize people who spend their income? I'll stick with the Progressive tax which taxes income NOT spent at a higher rate. Those that spend only a small part of their income every year are the REAL slackers in this economy and we need to stick it to them if we want to grow the GDP. Taxing sales is the LAST thing we need.
    Last edited by iguanaman; 01-18-12 at 06:55 PM.

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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
    You realize that your own taxes would go way up, right?

    There's nothing fair about a sales tax.
    A sales tax is extremely fair.Fair implies equal share or treatment.Equal means the same as or evenly proportioned. Everybody paying the same percentage is fair.Everybody paying the same sales tax percentage is fair.

    Poor and middle class people spend all, or almost all of their income.
    That has nothing to do with whether or not the taxes are fair.Fair implies equal share or treatment.It doesn't have squat to do with how much you have after taxes.
    "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 SheWolf View Post
    The reason he pays lower taxes is because of tax deductions and itemized forms. Most middle income tax payers don't have enough in itemized deductions to take the deductions, only wealthier people can manage to get 100,000s in tax deductions whereas the guy making 75,000 likely takes nothing in itemized deductions
    well, that depends on whether or not he has a house - mortgage interest gets' you up pretty quick.

    BUT, of course, if he's not taking itemized deductions, that means (assuming married filing jointly) he's got $11,400 standard deduction. Not too shabby. Which (again) is why the average effective FIT is actually lower than the 15% everyone here seems so upset about.

    If Buffet paid himself a salary, he'd still most likely pay less than his secretary because he'd still qualify for thousands of dollars in deductions. And I don't think that owning stock makes him a hypocrite. Maybe we should tax all income the same...
    I agree. for example, currently we double-tax income from ownership of stocks, making it a nominal 50%. We need to reduce that to the income rate levels, and we need to do it in the context of reducing deductions while lowering nominal rates to something more approximating the effective rates. You can raise more revenue and tax income from ownership the same as income from labor (as Democrats want) while getting rid of the second-highest corporate tax in the industrialized world and lowering nominal rates (as Republicans want).
    Last edited by cpwill; 01-18-12 at 07:03 PM.

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