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

  1. #1561
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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by upsideguy View Post
    That is good capitalism... the way it is suppose to work: a partnership of capital, technology and labor. Bain, however, represented the perverted side of capitalism.... they did not deploy money necessary to grow a business.
    the perverted side of capitalism....lol ????

    Good or perverted is not the issue, the issue is whether it's legal or illegal

    Do you see any differentiation in honest wealth v. "dishonest" wealth?

    If so...how?

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

    Quote Originally Posted by ric27 View Post
    the perverted side of capitalism....lol ????

    Good or perverted is not the issue, the issue is whether it's legal or illegal

    Do you see any differentiation in honest wealth v. "dishonest" wealth?

    If so...how?
    This is, I think, where the right has gone off the rails a bit. The "corporations can do no wrong" blind spot...

    Capitalism isn't just the theory that if the government doesn't mess with the corporations everything turns out peachy. No economist has ever put forward a theory that that was true. Capitalism is the idea that in an efficient market competition will tend to lead producers to make the best products at the lowest prices. That simple idea turns out to be a solution to many, many, problems humanity faces. But that doesn't equate to saying that corporations can do no wrong... Not at all. The free market doesn't work if there is fraud, poor information, collusion, externalities that aren't accounted for, deception, monopoly, etc. In my experience, companies like Bain Capital that I've worked with primary profit off of mild deception. They buy companies and artificially try to dress it up so that it looks like it's more profitable than it really is, then they cash in on that. That isn't an efficient market producing the best products at the lowest prices. It is market inefficiency.

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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
    .... as opposed to the Republican plan, which makes 99% of Americans suffer so we can have MORE massive tax cuts for the rich.
    99% of Americans suffer?

    Who gave you this information? Was it a reliable source?

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

    Quote Originally Posted by Grant View Post
    99% of Americans suffer?

    Who gave you this information? Was it a reliable source?
    The 99%!!! Gawd, some people might honestly be stupid enough to believe it!:...I could go on, but I gather you get my point.

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

    Quote Originally Posted by ric27 View Post
    the perverted side of capitalism....lol ????

    Good or perverted is not the issue, the issue is whether it's legal or illegal

    Do you see any differentiation in honest wealth v. "dishonest" wealth?

    If so...how?
    Good vs perverted is very much the issue. Just because something is legal does not make it healthy. Its important to understand the substantive from the shallow; the win-win from the win-lose. Bain's business is financial engineering. They follow almost the same model as house-flippers. Its not substantive. It generally does not help the economy. They are not as focused in financing growth or bringing products to market as they are on making money for their investors. It is "vulture" capitalism as opposed to venture capitalism. In general, this business model hurts our economy rather than grows the economy. Its not illegal, its not necessarily immoral, but its not healthy.

    Bain should be put on trial in this election. Its important for people to understand how much wealth in made in the country; not always by creating the new lightbulb or I-phone, but often by stealing equity; often at the expense of the unwealthy. It is a form of class warfare, with the 1% class the winners.
    Last edited by upsideguy; 01-26-12 at 07:47 PM.

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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
    In my experience, companies like Bain Capital that I've worked with primary profit off of mild deception. They buy companies and artificially try to dress it up so that it looks like it's more profitable than it really is, then they cash in on that. That isn't an efficient market producing the best products at the lowest prices. It is market inefficiency.
    Do you have any evidence, in your experience, that Mitt Romney was ever involved in fraud, i.e. dressing a company up so that it looks more profitable than it really us and then "cashing in".

    What was the company or companies involved, and what were the consequences and the charges laid?

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

    Quote Originally Posted by upsideguy View Post
    Good vs perverted is very much the issue. Just because something is legal does not make it healthy. Its important to understand the substantive from the shallow; the win-win from the win-lose. Bain's business is financial engineering. They follow almost the same model as house-flippers. Its not substantive. It generally does not help the economy. They are not as focused in financing growth or bringing products to market as they are on making money for their investors. It is "vulture" capitalism as opposed to venture capitalism. In general, this business model hurts our economy rather than grows the economy. Its not illegal, its not necessarily immoral, but its not healthy.

    Bain should be put on trial in this election. Its important for people to understand how much wealth in made in the country; not always by creating the new lightbulb or I-phone, but often by stealing equity; often at the expense of the unwealthy. It is a form of class warfare, with the 1% class the winners.
    Which companies are you referring to and what harm was done in trying to save any of these troubled companies?

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

    Quote Originally Posted by Grant View Post
    99% of Americans suffer?

    Who gave you this information? Was it a reliable source?
    Its the standard mantra of the far left to try to convince people that everyone is badly off when 1 percent does really well.

    its bunk of course but its a needed weapon to expand the creeping crud of class warfare that the leftist elite and wannabee elites promote in order to gain more wealth and power from those who have actually earned the wealth

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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
    Its the standard mantra of the far left to try to convince people that everyone is badly off when 1 percent does really well.

    its bunk of course but its a needed weapon to expand the creeping crud of class warfare that the leftist elite and wannabee elites promote in order to gain more wealth and power from those who have actually earned the wealth
    You're right, of course, TD, but they so often throw out these numbers, or "facts" , and I occasionally like to call them on it. They then tend to fall silent after that though they'll always show up somewhere else making the same goofy claims. It's pop-a-mole.

    I'm not long on conspiracy theories but if anyone ever deliberately set out to ruin a country they'd probably follow in the footsteps of BHO. Obama’s Leftism Commentary Magazine

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

    Quote Originally Posted by Grant View Post
    You're right, of course, TD, but they so often throw out these numbers, or "facts" , and I occasionally like to call them on it. They then tend to fall silent after that though they'll always show up somewhere else making the same goofy claims. It's pop-a-mole.

    I'm not long on conspiracy theories but if anyone ever deliberately set out to ruin a country they'd probably follow in the footsteps of BHO. Obama’s Leftism Commentary Magazine
    With all of his experience, you thought he would know better. Oh damn...wait.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

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