Page 3 of 192 FirstFirst 123451353103 ... LastLast
Results 21 to 30 of 1914

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

  1. #21
    Sage
    mike2810's Avatar
    Join Date
    Jan 2010
    Location
    arizona
    Last Seen
    Today @ 06:40 PM
    Gender
    Lean
    Independent
    Posts
    15,008

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

    Quote Originally Posted by teamosil View Post
    You're on a thread about him paying much lower taxes than working people... Is that your impersonation of a person who works? Or what?
    The impression is one who has invested and now is reaping the benifits. If you don't like the capital income tax laws, get your rep to help change the tax code.

    In all fairness, Pelosi and her wealth growth is also legal.

    Does she give the impression of the type of person that works? I'll help you out, she is rich, her husband is rich. They use the same tax code and take advantage of the tax code like anyone else in their income bracket. So you see it does no good to do partisan rock throwing. The other side is just as guilty.
    Last edited by mike2810; 01-17-12 at 11:50 PM.
    "I can explain it to you but, I can't understand it for you"

  2. #22
    warrior of the wetlands
    TurtleDude's Avatar
    Join Date
    Oct 2005
    Location
    Ohio
    Last Seen
    Today @ 10:58 AM
    Gender
    Lean
    Libertarian - Right
    Posts
    180,606

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

    Quote Originally Posted by mike2810 View Post
    The impression is one who has invested and no is reaping the benifits. If you don't like the capital income tax laws, get your rep to help change the tax code.

    In all fairness, Pelosi and her wealth growth is also legal. Does she give the impression of the type of person that works?
    Pelosi inherited and married into wealth, she has done nothing really to earn it but since she's a big lefty she won't get criticized by the whiners who attack Romney who actually created wealth

  3. #23
    Sage
    cpwill's Avatar
    Join Date
    Dec 2009
    Location
    USofA
    Last Seen
    Today @ 01:48 PM
    Gender
    Lean
    Conservative
    Posts
    57,082

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

    Quote Originally Posted by teamosil View Post
    No, again, the median effective tax rate in the US is 27%. You might be missing that federal income taxes are less than half of all taxes.
    if thats how you want to do it, then you have given a false apples-to-oranges comparison by adding in state, local, and other federal taxes to your claimed median, but only counting Federal Income for Romney.

  4. #24
    Sage
    mike2810's Avatar
    Join Date
    Jan 2010
    Location
    arizona
    Last Seen
    Today @ 06:40 PM
    Gender
    Lean
    Independent
    Posts
    15,008

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

    Quote Originally Posted by TurtleDude View Post
    Pelosi inherited and married into wealth, she has done nothing really to earn it but since she's a big lefty she won't get criticized by the whiners who attack Romney who actually created wealth
    I agree. I think I showed that even the rich Dems play the capital income game when it comes to taxes. Its not wrong, its just the way it currently is. To point out one person (Romney) is just plain wrong, when others (both parties) are doing the same thing.
    "I can explain it to you but, I can't understand it for you"

  5. #25
    warrior of the wetlands
    TurtleDude's Avatar
    Join Date
    Oct 2005
    Location
    Ohio
    Last Seen
    Today @ 10:58 AM
    Gender
    Lean
    Libertarian - Right
    Posts
    180,606

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

    Quote Originally Posted by cpwill View Post
    if thats how you want to do it, then you have given a false apples-to-oranges comparison by adding in state, local, and other federal taxes to your claimed median, but only counting Federal Income for Romney.
    dishonesty is generally the SOP when it comes from the left on taxes.

  6. #26
    Sage
    teamosil's Avatar
    Join Date
    Oct 2009
    Location
    San Francisco
    Last Seen
    05-22-14 @ 12:47 AM
    Gender
    Lean
    Liberal
    Posts
    6,623

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

    Quote Originally Posted by cpwill View Post
    actually, as of 2009, it was 11.06%. And that's just for those with a "positive liability". I think you have confused "effective" with "nominal".
    False. That is only your FEDERAL effective tax rate. 27% is the total effective tax burden- state and federal. That's what Romney is citing too, but of course since he's super rich he essentially pays no state taxes. State taxes are almost all, or in some states all, regressive.

    Quote Originally Posted by cpwill View Post
    precisely. because they are not stupid - instead they are dynamic creatures that respond to incentives. When you increase marginal rates, you accordingly increase incentives to alter compensation in such a manner as to decrease exposure. Even the President takes advantage of the tax credits and deductions that are available to him, even as he derides others for doing so.
    Not sure what significance you think that has. Yeah, most rich people pay the ultra reduced rates. That's my point.

    Quote Originally Posted by cpwill View Post
    However, all of Romney's income was taxed before he got it, often at the nominal 35%; so I'm not terribly worried that he's not paying his fair share of supporting the government.
    Also false. Bain Capital- the source of most of his income- is a partnership, not a corporation. Partnerships do not pay taxes at all.

  7. #27
    Sage
    teamosil's Avatar
    Join Date
    Oct 2009
    Location
    San Francisco
    Last Seen
    05-22-14 @ 12:47 AM
    Gender
    Lean
    Liberal
    Posts
    6,623

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

    Quote Originally Posted by cpwill View Post
    if thats how you want to do it, then you have given a false apples-to-oranges comparison by adding in state, local, and other federal taxes to your claimed median, but only counting Federal Income for Romney.
    What? No, that is Romney's total effective tax rate also. It's apples to apples.

  8. #28
    Professor
    Keridan's Avatar
    Join Date
    Oct 2011
    Location
    Raleigh NC
    Last Seen
    08-19-17 @ 12:10 PM
    Gender
    Lean
    Libertarian
    Posts
    1,451

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

    When I hear these specifically phrased points, I always wonder something. If Warren has it so great and contributes so little, maybe he and his secretary would like to trade tax bills. Not effective rates, but bills.

    When the top 1% is no longer paying 38% of all FIT and the top 10% is no longer paying almost 3 quarters of all collected FIC, I will listen to talk about not paying their fair share.

    I actually don't mind the idea of taxing capital gains as normal income (tho I wouldn't fight for it). The stuff I keep seeing about how these guys are just getting away with theft when they are the ones footing the bill really pushes me away from the point they are trying to make.
    Omniscience just sucks without omnipotence!

  9. #29
    Sage
    teamosil's Avatar
    Join Date
    Oct 2009
    Location
    San Francisco
    Last Seen
    05-22-14 @ 12:47 AM
    Gender
    Lean
    Liberal
    Posts
    6,623

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

    Quote Originally Posted by mike2810 View Post
    The impression is one who has invested and now is reaping the benifits. If you don't like the capital income tax laws, get your rep to help change the tax code.

    In all fairness, Pelosi and her wealth growth is also legal.

    Does she give the impression of the type of person that works? I'll help you out, she is rich, her husband is rich. They use the same tax code and take advantage of the tax code like anyone else in their income bracket. So you see it does no good to do partisan rock throwing. The other side is just as guilty.
    No doubt Pelosi should pay way more in taxes. And Buffet and Gates and all the other rich Democrats. The tax breaks indeed do go to people from both parties. That doesn't make them any more acceptable.

  10. #30
    warrior of the wetlands
    TurtleDude's Avatar
    Join Date
    Oct 2005
    Location
    Ohio
    Last Seen
    Today @ 10:58 AM
    Gender
    Lean
    Libertarian - Right
    Posts
    180,606

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

    Quote Originally Posted by teamosil View Post
    What? No, that is Romney's total effective tax rate also. It's apples to apples.
    libs whine about a guy paying millions in taxes when they have no problem with people voting for tax hikes on others who have a zero federal income tax rate.

    and you ignore that his dividend income was already taxed

Page 3 of 192 FirstFirst 123451353103 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •