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

  1. #381
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    Re: Romney's tax rate is only half as high as the middle class pays

    Media Myth Debunked: 97 Percent of Americans Pay Less Tax Than Romney's 15 Percent | NewsBusters.org


    According to last year's report from the Internal Revenue Service, as a function of Adjusted Gross Income, 97 percent of 2009 filers paid less than 15 percent:

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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
    Media Myth Debunked: 97 Percent of Americans Pay Less Tax Than Romney's 15 Percent | NewsBusters.org


    According to last year's report from the Internal Revenue Service, as a function of Adjusted Gross Income, 97 percent of 2009 filers paid less than 15 percent:
    Surprisingly, the Newsbusters guy doesn't include payroll taxes, which make up a higher percentage of federal taxes than FIT for many Americans.

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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
    Surprisingly, the Newsbusters guy doesn't include payroll taxes, which make up a higher percentage of federal taxes than FIT for many Americans.
    maybe because that FICA stuff was never intended to be progressive in the same way the income tax was intended and was not originally intended to be a general revenue tax. Now I know that congress has violated the intent of the FICA but trying to use non-progressive taxes to claim that American taxes aren't progressive enough is basically dishonest

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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
    maybe because that FICA stuff was never intended to be progressive in the same way the income tax was intended and was not originally intended to be a general revenue tax. Now I know that congress has violated the intent of the FICA but trying to use non-progressive taxes to claim that American taxes aren't progressive enough is basically dishonest
    The only dishonest thing is ignoring a huge chunk of the federal taxes most Americans pay to try to make Romney's tax rate look less ridiculous.

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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
    Surprisingly, the Newsbusters guy doesn't include payroll taxes, which make up a higher percentage of federal taxes than FIT for many Americans.
    Its the turtledudes shell game he likes to play, he thinks that after 30 years now people haven't caught on to the scam of trickle down economics.
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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 real golden rule when it comes to economics is this

    If you have the gold you make the rules
    Very good Turtle. That was exactly my point. Bravo.
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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
    I actually agree-if you earn money, pay taxes on it, invest it-it is not double taxation to pay taxes on the income you derive from either dividends or capital gains. what is double taxation is a death tax or taxes on dividends if the corporate profit was first taxed
    How in the world could anyone claim that money given to a person taxed with an estate tax is double taxation when the person getting them money never paid a penny of tax on it in the first place?

    That simply defies all logic and reality.
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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
    How in the world could anyone claim that money given to a person taxed with an estate tax is double taxation when the person getting them money never paid a penny of tax on it in the first place?

    That simply defies all logic and reality.
    By your reasoning children's allowances should also be taxed.

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

    Quote Originally Posted by Meathead View Post
    By your reasoning children's allowances should also be taxed.
    Now there is a jump from A to Z skipping all the other 24 letters in between.

    For a person to fall victim to double taxation, simple logic dictates that they must first pay tax on it at one time. People who inherit do not fall under that category since the one giving the inheritance paid the original taxes.
    Last edited by haymarket; 01-20-12 at 08:37 AM.
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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
    The only dishonest thing is ignoring a huge chunk of the federal taxes most Americans pay to try to make Romney's tax rate look less ridiculous.
    translation-in comparing apples you will include a complete supermarket's fresh fruit section in order to justifying whining about the rich

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