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

  1. #201
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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
    No, again, 27% is the median EFFECTIVE tax rate for an American.

    You know what dude. I've said all these things to you like 10 times already. You're just doing that thing where you intentionally play an idiot to irritate me. I'm done replying to you again.
    Then reply to me. Where is a link showing that the median effective tax rate for an American is 27%? Even if you can find it, it will surely not be talking about 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 MaggieD View Post
    I don't know one accounting firm who figures one's effective tax rate including state taxes. You've made an assumption. Actually, both of us have. But let's neither one of us let that get in our way.
    That makes zero sense. Why would he only include some of his income taxes and then claim he was giving the rate for his income taxes? You think he is trying to make the number seem SMALLER for some reason? That would be crazy.

    Quote Originally Posted by MaggieD View Post
    If you're not going to believe information I posted from the Tax Policy Center, I don't know what to say.]
    Again, that link was only about FEDERAL effective tax rate... Why do I need to keep repeating that?

    Quote Originally Posted by MaggieD View Post
    Oh, wait. How about a link? Romney was talking about his Federal effective tax rate. No one knows what their Federal/State/Local/Sales Tax/Property Tax/Unemployment/Etc/Etc rate is. No one.
    You think Romney doesn't know how much state taxes he paid? WTH? That's crazy talk.

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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
    Then reply to me. Where is a link showing that the median effective tax rate for an American is 27%? Even if you can find it, it will surely not be talking about Federal income tax.
    OF COURSE it is not just talking about federal. I've said that 10 times. It would be idiotic to just look at federal...

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    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.
    That's pretty singular of you. Many people benefited from investiments that stayed afloat due to tarp, including some, I'm sure on fixed incomes. Should they be villified as well? Or is your demonizing limited to only those that are politically dangerous to your ideology?


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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
    OF COURSE it is not just talking about federal. I've said that 10 times. It would be idiotic to just look at federal...
    You need some lessons in basic tax accounting. Oh, and where's the link?
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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
    Why would he say that's what he pays in taxes if he just meant federal taxes? You think he's stupid or something? You think he doesn't understand that state taxes are taxes too?



    No, again, 27% is the median EFFECTIVE tax rate for an American.

    You know what dude. I've said all these things to you like 10 times already. You're just doing that thing where you intentionally play an idiot to irritate me. I'm done replying to you again.
    you made the false statement that Romney's 15% applied to ALL HIS TAXES and the opening post's citation merely said INCOME taxes and you denied that. I cannot help it if you did either not read the opening post's citation or understand it. You were inaccurate as to what Romney was referencing (it was clearly his federal income tax rate based on the context of his comment -even if it meant his state income tax rate) for the article CLEARLY SAID INCOME TAX-not other taxes as YOU CLAIMED

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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
    You need some lessons in basic tax accounting. Oh, and where's the link?
    Basic tax accounting? Why would Mitt Romney just list off his effective tax rate for federal taxes? He is embarrassed that it is so low. You think he would just leave off a bunch of the taxes for no reason?

    www.ctj.org/pdf/taxday2011.pdf
    Last edited by teamosil; 01-18-12 at 10:41 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
    Basic tax accounting? Why would Mitt Romney just list off his effective tax rate for federal taxes? He is embarrassed that it is so low. You think he would just leave off a bunch of the taxes for no reason?
    He's embarrassed or he is worried that the envious left is going to whine about it because most of them are too dim to understand that an effective tax rate of 15% still means he pays a higher rate than just about anyone in the middle class. Indeed you have to be over 200K a year purely in salary to have an effective tax rate of higher than 15%

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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
    Indeed you have to be over 200K a year purely in salary to have an effective tax rate of higher than 15%
    I just posted a link, maybe after you replied disproving this- http://www.ctj.org/pdf/taxday2011.pdf

    Somebody who makes $40k/year is at 25%.

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

    uh that is marginal rates not effective rate

    you missed all my earlier posts that demonstrate that when you are way way up there your marginal rate is the same as your effective rate. if you are in the 15% bracket for investment income ALL OF YOUR INVESTMENT INCOME effective is taxed at 15%

    if you make 40K how much of your income is taxed at 25%?

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