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

  1. #1571
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    Re: Romney's tax rate is only half as high as the middle class pays

    Romney paid a lower tax rate than most secretaries

    "Under extreme pressure, Republican presidential candidate Mitt Romney released is 2010 tax return and an estimate of his 2011 return today. The return reveals Romney paid an effective tax rate of 13.9% on income of $42 million dollars. That is a lower tax rate than his opponent Newt Gingrich and President Obama paid.

    It is also a lower rate than Warren Buffet’s secretary paid, and almost every secretary in the country.

    Romney has funds in offshore accounts

    The returns reveal that Romney has funds in offshore accounts in the Cayman Islands, Luxembourg, and Ireland—places that the wealthy use to avoid taxes. He also closed an account in a Swiss Bank in 2010 because his investment advisor thought that account would be an embarrassment for the candidate Romney.

    Romney claims that these accounts are used for investments and not used to avoid taxes. This can not be verified. Romney only released the return for 2010 and refuses to release any additional returns so it will be impossible for voters to determine if Romney did in fact avoid taxes in these off shore accounts before he began sanitizing his affairs in preparation for the presidential campaign."

    "Romney’s father, who ran for President in 1968 released 12 years returns because he said that if a candidate released only one year, it could be manipulated and would not show a true picture of his financial affairs. Romney made it clear he has no intention of releasing more returns. This begs the question what is he hiding? If you have nothing to hide, why hide it?

    Romney makes more in a day than the average family does in a year."

    "Romney just doesn’t get it. The issue is not his wealth; it is the basic inequities in our tax code that allows a wealthy person to pay such a low tax rate legally. Furthermore, his proposed tax plan would allow him to pay about 40% less in taxes than he does now making the inequities greater."
    Romney paid a lower tax rate than most secretaries - National economic policy | Examiner.com
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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
    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?
    Charges? It's not illegal and it's not legally fraud. That's what most sort of mid range VC's do. They buy small to medium companies, hold them for a year or so, then sell them. Their whole goal for that year is to make it look good on paper so they can sell it. Most essential is that it look good for that last quarter.

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

    I think the bottom line is that Romney can't win a presidential election. He's too out of touch with regular people. He's the poster child for why the Republican plan doesn't make sense. Look at how he conducted himself in the debate last night. He had to spend half of the time he had on camera talking about his Swiss bank account and his blind trust and various different types of funds he owns... He'll spend the whole campaign having to explain why he keeps his money in offshore accounts and how come he pays a lower percentage in taxes than virtually anybody when you include state and federal and that when he left his Swiss bank account off of his disclosure form to the federal elections commission it was just an oversight and blah blah blah. That isn't something working people can possibly connect with. The message that we need to lower his taxes even more while people on social security have to tighten their belts isn't a message he can try to sell. The lines about how anybody can get rich if they just work hard isn't one that a guy whose dad was the CEO of a half dozen corporations and the governor of Michigan can sell. He can't use the job creator line after his record at Bain got exposed. He's pretty much incapable of running a Republican platform at all at this point.

    And this is all before the Democrats have even started going after him. It got this bad just with Republican audiences and Republican opponents who are all trying really hard not to look like they have a problem with megarich people. Democrats aren't so squeamish about pointing out this kind stuff. It'll get a whole lot worse for him after the primary if he's the nominee.

    A megarich guy could run for president as a Republican but he'd need to be self made. He'd need to have a clear cut story about what it is that he adds to the economy that explains how he got so much money. He'd need to have hired people to make something or provide some service, not just shuffled around papers and skimmed percentages off transactions. He would need to have paid a lot of a taxes. Without those things, the story just doesn't work for a Republican. It might work on most solid Republican voters, but it won't fly with moderates and it won't inspire huge turnout even from the solid Republicans. 38% of of Republicans and 57% of independents say that their biggest concern with our tax system is that the rich don't pay enough. A Republican can't win in this climate with Romney's angle.

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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
    I think the bottom line is that Romney can't win a presidential election. He's too out of touch with regular people. He's the poster child for why the Republican plan doesn't make sense. Look at how he conducted himself in the debate last night. He had to spend half of the time he had on camera talking about his Swiss bank account and his blind trust and various different types of funds he owns... He'll spend the whole campaign having to explain why he keeps his money in offshore accounts and how come he pays a lower percentage in taxes than virtually anybody when you include state and federal and that when he left his Swiss bank account off of his disclosure form to the federal elections commission it was just an oversight and blah blah blah. That isn't something working people can possibly connect with. The message that we need to lower his taxes even more while people on social security have to tighten their belts isn't a message he can try to sell. The lines about how anybody can get rich if they just work hard isn't one that a guy whose dad was the CEO of a half dozen corporations and the governor of Michigan can sell. He can't use the job creator line after his record at Bain got exposed. He's pretty much incapable of running a Republican platform at all at this point.

    And this is all before the Democrats have even started going after him. It got this bad just with Republican audiences and Republican opponents who are all trying really hard not to look like they have a problem with megarich people. Democrats aren't so squeamish about pointing out this kind stuff. It'll get a whole lot worse for him after the primary if he's the nominee.

    A megarich guy could run for president as a Republican but he'd need to be self made. He'd need to have a clear cut story about what it is that he adds to the economy that explains how he got so much money. He'd need to have hired people to make something or provide some service, not just shuffled around papers and skimmed percentages off transactions. He would need to have paid a lot of a taxes. Without those things, the story just doesn't work for a Republican. It might work on most solid Republican voters, but it won't fly with moderates and it won't inspire huge turnout even from the solid Republicans. 38% of of Republicans and 57% of independents say that their biggest concern with our tax system is that the rich don't pay enough. A Republican can't win in this climate with Romney's angle.
    Because the mega rich dems are SO connected with the little folk...right?

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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
    Because the mega rich dems are SO connected with the little folk...right?
    What matters is how you vote. If you vote for the people - the vast majority of people who work for a living and are struggling right now, that is what the people notice first. Your own personal finances rank down the list unless you constantly vote against the people then they merely confirm your bias.

    Working Democrats are NOT against rich folks. They are against rich folks who are against them.
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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
    Because the mega rich dems are SO connected with the little folk...right?
    I definitely agree with Haymarket, so I won't bother repeating what he already pointed out, but I would add that even for a Democrat being megarich does kind of make it harder for them to connect with the voters. Kerry struggled with that for example. But when you add on top of that a candidate who is campaigning on things like cutting programs the middle class rely on and further reducing the tax burden on the super rich, that's a lot bigger problem. Especially during a year like this where awareness of the rich/working people gap is so high.

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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
    If you vote for the people - the vast majority of people who work for a living and are struggling right now, that is what the people notice first. Your own personal finances rank down the list unless you constantly vote against the people then they merely confirm your bias.
    What does this mean?

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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
    What does this mean?
    I thought it was clear. The majority of the people in this nation are NOT the top 1 or 2% who benefit from discriminatory government policies like special rates for capital gains or crony capitalism. Politicians who themselves are wealthy but who vote in the interests of the average working person are fine. Those who are wealthy and vote for the interests of the wealthy over the interests of average working people are not.
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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
    Because the mega rich dems are SO connected with the little folk...right?
    because the mega rich dems pretend they care for the little folk by promising them that voting for uber-rich dems means the uber rich dems will punish the rich and give the wealth to the little folk

    its easy to win elections when you promise the many that you will loot the few on their behalf

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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
    I thought it was clear. The majority of the people in this nation are NOT the top 1 or 2% who benefit from discriminatory government policies like special rates for capital gains or crony capitalism. Politicians who themselves are wealthy but who vote in the interests of the average working person are fine. Those who are wealthy and vote for the interests of the wealthy over the interests of average working people are not.
    using that logic you can easily justify taking everything from anyone who makes more than 100K a year and giving it to those who don't

    Hell you can justify confiscating all the property of the top 10% and killing them and distributing the stolen wealth to the other 90%

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