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

  1. #281
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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
    mixing in non progressive taxes to try to claim non progressive overall taxes
    I have no idea where you got that idiotic notion, but obviously it doesn't make any sense...

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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
    Well good for you, but I guaran****ingdamntee you that I pay a considerably higher rate than Mitt.
    If you were honest, you'd get right up out of your chair, go get your 2010 Federal Income Tax Form and figure it out. But you won't, because you want to hang on to that illusion. Divide the Federal income tax you paid last year by Line 37 which is your Adjusted Gross Income. See what you come up with.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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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
    MaggieD, even if you're in the bottom 20% you pay a higher tax rate than Romney does. Sales taxes, property taxes, etc.
    I'm done with you, Teamosil. You're either being ridiculous or you just don't know how much you don't know. I'm not sure which it is...
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

  4. #284
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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
    If you were honest, you'd get right up out of your chair, go get your 2010 Federal Income Tax Form and figure it out.
    And your state tax forms. And all your sales receipts. And your paychecks to add up unemployment and disability and FICA. And your property tax paperwork. And any paperwork you have on vehicle taxes. And, really, you should add in the employer's portion of FICA because they just take that out of your wages.

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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 have no idea where you got that idiotic notion, but obviously it doesn't make any sense...
    the idiotic notion is assuming that all taxes should be progressive and then whining when all taxes combined may show a lack of progressivity

    the fact is, Romney pays a higher effective rate on like income than people making less than he does. and confusing earned income with unearned income and the varying tax rates is nothing more than a patent attempt to try to justify whining that Mitt ought to pay more

    you ignore actual dollars paid

    you ignore like income

    you ignore effective rates vs marginal rates

    all you do is whine that the rich don't pay enough which is clearly based on not a rational analysis or even a clear understanding of the various forms of taxes and relevant rates

    all investors generally get a lower rate

    whining that is unfair because the rich have (often) a higher proportion of investment income is clearly idiotic and a silly argument to claim that investment tax rates ought to be jacked up just for the rich

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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'm done with you, Teamosil. You're either being ridiculous or you just don't know how much you don't know. I'm not sure which it is...
    another wonderfully accurate post

    Good night Maggie, I am done with being King Arthur for the night, I have to go wipe the blood off my sword and my armor

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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
    the idiotic notion is assuming that all taxes should be progressive and then whining when all taxes combined may show a lack of progressivityh
    Regardless of whether you want progressive or regressive taxation, you need to look at all the taxes to know how progressive our system is or isn't. You look at the real data, and make conclusions based on that. What is dishonest is to try to hide half the data because it makes it look like the system is more progressive than it actually is.

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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
    Tax Accounting Classes! Everybody, Tax Accounting Classes! I do not pay a higher tax rate than Romney. Gads. Unbelievable. As a matter of fact, AdamT, most of my money is in Dreyfus/Putnam/Other municipal bond funds on which I pay no Federal income tax at all. Some of it is in tax-sheltered annuities I've had for years that have a 5% floor. Suhweeet. 15%? No.Where.Near. And neither do you.
    Oh dear, you really think that you're not paying income taxes because you're buying munis with your income? I hope the IRS isn't reading this!

    Well, perhaps you have little or no straight income and you're just relying on investment income? If so it's generally not a great idea to make bad or mediocre investments to try to avoid LTCG. You must have gotten slaughtered over the last few years, yes?

    Personally, I pay a much higher rate than Mitt and there is no good way around it, short of breaking the law or making bad investments.

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

    I'm pretty sure I paid a -2 or -3 percent last year (2010).

    Edit: Wait, is it accurate to say "paid" if my rate was negative?

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

    Quote Originally Posted by TNAR View Post
    I'm pretty sure I paid a -2 or -3 percent last year (2010).

    Edit: Wait, is it accurate to say "paid" if my rate was negative?
    Maybe federal taxes only, not counting FICA... Total you almost certainly paid a higher percentage than Romney.

    http://www.ctj.org/pdf/taxday2011.pdf

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