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

  1. #171
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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
    if he paid far more than he benefited, he would be in another country. I think it is very fitting that someone who pays an effective tax rate of 15% represent the 1 percenters in the big battle in November in the GOP class war against the 99% (or "parasites" as you refer to them).
    ah the old class warfare mantra-whine to millions who pay nothing in federal income taxes that a guy who pays millions in federal income taxes isn't paying enough. parasites come in all income groups-its a mindset not a bank account that makes one a parasite

  2. #172
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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
    don't know, don't care but what I do know is that no matter how he got his wealth, the people whining about his tax rates would still be whining now
    Hmm, if your argument is that he doesn't get back what he pays in, and then you say you don't what he gets back ... that's not all that convincing.

  3. #173
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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
    ah the old class warfare mantra-whine to millions who pay nothing in federal income taxes that a guy who pays millions in federal income taxes isn't paying enough. parasites come in all income groups-its a mindset not a bank account that makes one a parasite
    Your shell game, does not obscure to the middle class that they are paying a higher percentage of their income in taxes than are the 1%ers like Mitt Romney, who brazenly proposes even more tax cuts for him and his rich buddies.

    But hey, the debt for tax breaks will trickle down to the middle class, so it all works out, right?
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  4. #174
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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
    Hmm, if your argument is that he doesn't get back what he pays in, and then you say you don't what he gets back ... that's not all that convincing.
    read that statement of yours again and rewrite it-it makes no sense-there is either a typo or the wrong word someplace in that comment that buggers things up

  5. #175
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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
    Your shell game, does not obscure to the middle class that they are paying a higher percentage of their income in taxes than are the 1%ers like Mitt Romney, who brazenly proposes even more tax cuts for him and his rich buddies.

    But hey, the debt for tax breaks will trickle down to the middle class, so it all works out, right?
    stop lying. Mitt is an exception to the top one percent

    here are the actual effective tax rates


    GI. Avg tax % of AGI
    1-25k. 1.76
    25-50k. 5.32
    50-100k 8.41
    100-200k 12.59
    200-500k. 19.5
    500-1MM. 23.92
    1-10MM. 24.47
    10MM+ 20.89
    109.7MM. 18.11

    the top one percent start around 375K a year. that means those paying around a 20% effective tax rate

    those making between a half million and a million a year are paying about 24% and the group with the highest average effective tax rate are people in my group-those making 1-10 Million a year. Once you get over 10 million but below 110 Million they are down to about the same rate as people in the bottom of the top one percent. its those over 110 million are dropping down to the same average rate as those in the 275K range

    so the crap that the average top one percent tax payer pays less than the middle class is complete and utter crap and even those making over 110 Million a year are still paying more than people making up to 200K a year


    (those are 2008 figures)

  6. #176
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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
    read that statement of yours again and rewrite it-it makes no sense-there is either a typo or the wrong word someplace in that comment that buggers things up
    Makes perfect sense to me. Maybe if I use different words.... You seem to be saying that Romney is already paying too much in taxes, because he doesn't get back from government what he pays in. Then you said that you have no idea how much benefit he got from the $800 billion TARP program (for example). Thus your main premise is based on pure speculation (and you won't even speculate).

    If I was to speculate I would say that Romney got tens of millions of dollars in value from TARP, insofar as his money is tied up in investments which would have lost a substantial percentage of their value if the government had not propped up the banks, and thus the markets. It may be that he got more value from that one action than he will EVER pay in.

  7. #177
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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
    Makes perfect sense to me. Maybe if I use different words.... You seem to be saying that Romney is already paying too much in taxes, because he doesn't get back from government what he pays in. Then you said that you have no idea how much benefit he got from the $800 billion TARP program (for example). Thus your main premise is based on pure speculation (and you won't even speculate).

    If I was to speculate I would say that Romney got tens of millions of dollars in value from TARP, insofar as his money is tied up in investments which would have lost a substantial percentage of their value if the government had not propped up the banks, and thus the markets. It may be that he got more value from that one action than he will EVER pay in.
    Romney was very rich long before TARP

    ponder that

    and here-you claim this makes sense?

    and d then you say you don't what he gets back ... that's not all that convincing.

  8. #178
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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
    Lets see, here is the argument.

    TD-I pay too much tax for what I get

    TSL-you need to pay more even though you pay more than most people
    You appear to have completely missed every argument I made in the post. Try again.

  9. #179
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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
    Can you define ‘one way or another’ specifically?
    I did. It would go to whoever they named in their wills if they had them, or relatives if they didn't have wills. Since nobody but 99%ers would be left in that scenario, it would keep going until it reached a 99%er or until they ran out of heirs in which case it would go to the government.

    Quote Originally Posted by Dickieboy View Post
    With their 30% part of the wealth?
    Yes. Who did you think would buy their shares of companies so they could cash out if not the 99%?

  10. #180
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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
    No, he's on a thread where the majority of posters don't understand what Romney said. He was talking about his Effective Tax Rate, not what bracket he's in. Most people don't even know what that is -- he does. Ya'll should, too.
    Right. Romney's effective total tax rate is 15%. The median effective total tax rate for an American is 27%.

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