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

  1. #41
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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
    You really haven't the cred to be that arrogant towards anyone.
    I'll notify the cred rating board of your opinion.

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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
    That doesn't really make sense to talk about the absolute amount somebody pays. If you just look at that then all you're really measuring is how wide the wealth gap is between the super rich and working people. They pay a lot of taxes because they're getting insanely huge amounts of money. That gap being super wide is an argument for more progressive taxation, not less.
    They pay insane amounts already. Yes, those who are in the 1% at any given time hold lots of money. I don't think we need them to cover more than the nearly half of FIT. I understand that those who have the money end up paying more. It's not fair, but it's logical and necessary. However, whoever the 3 million are at the moment are paying almost as much as the 270 million people using the same services. I think it's time to look at where that money is being spent before we start demanding more from them.

    In my view that is the solution to a lot of society's problems. Put the super rich's interests in the same bucket as working people.
    I see advantages, such as encouraging reinvestment into companies and such. I just find the argument is often hard for people to separate from general tax rates, so I hesitate to argue it.
    Omniscience just sucks without omnipotence!

  3. #43
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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
    "you libs" want that? According to whom? As far as expertise, at least I know enough to understand that the exemption is per inheritor, so if there's more than one inheritor there is exactly zero tax on a $2 million estate -- even with your made-up $1 million exemption.
    so you deny that Obama wanted the old rate of one million? Okie dokie

    the exemption is tied to the amount of the estate under the pre Bush rules. the current exclusion amount is 5 million

  4. #44
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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 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.
    thanks for stating that.
    While this thread was specific to Romney, I felt it was important to show that other politicians are doing the same thing.
    I am not sure I wan't to see all income treated the same. But that is for another thread.
    "I can explain it to you but, I can't understand it for you"

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

    btw the tax exemption involves the owner of the estate not the heirs. a 15 million dollar estate with three heirs does not get more exemptions than one with 15 million and two heirs as AdamT tried to suggest

  6. #46
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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by Keridan View Post
    I don't think we need them to cover more than the nearly half of FIT.
    Looking only at federal income taxes is a deception. That is less than half of all taxes. It is the only progressive tax in the system. It is progressive in part because it has to offset the bulk of other taxes that are regressive. If you look at all taxes, they pay a much smaller percentage. If you looked at what percentage of sales taxes different brackets pay you'd find that the middle class pay like 90% of sales taxes and the top 1% pay only maybe 2% of them for example. You couldn't draw conclusions about what share of the taxes the rich pay overall based on that alone either.

    Quote Originally Posted by Keridan View Post
    I understand that those who have the money end up paying more. It's not fair, but it's logical and necessary.
    Why is it not fair? By definition they're pulling more benefit out of society. Why shouldn't they have to chip more back in to keep the society they're reaping that benefit from strong?

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

    Quote Originally Posted by mike2810 View Post
    thanks for stating that.
    While this thread was specific to Romney, I felt it was important to show that other politicians are doing the same thing.
    I am not sure I wan't to see all income treated the same. But that is for another thread.
    if all income were to be treated the same then dividends would no longer be taxed as corporate profits first

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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
    Looking only at federal income taxes is a deception. That is less than half of all taxes. It is the only progressive tax in the system. It is progressive in part because it has to offset the bulk of other taxes that are regressive. If you look at all taxes, they pay a much smaller percentage. If you looked at what percentage of sales taxes different brackets pay you'd find that the middle class pay like 90% of sales taxes and the top 1% pay only maybe 2% of them for example. You couldn't draw conclusions about what share of the taxes the rich pay overall based on that alone either.



    Why is it not fair? By definition they're pulling more benefit out of society. Why shouldn't they have to chip more back in to keep the society they're reaping that benefit from strong?
    that is one of the most moronic assumptions in the tax debate-that the rich "are pulling more benefit" out of society. In reality they do far more to benefit society before we even start to talk about taxes

    its a lie the left invented to serve as a facade to hide the "from each according to their ability" nonsense

    if you want to base taxes on what people use than you would have to admit that the millions who pay no income taxes use far more than one millionaire which would destroy that basis for your tax "fairness" nonsense

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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
    if all income were to be treated the same then dividends would no longer be taxed as corporate profits first
    Oh dear god I'm getting taxed twice not only when I pay income tax but also when I pay sales tax!

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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
    so you deny that Obama wanted the old rate of one million? Okie dokie
    In fact Obama supported an exemption of $3.5 million for an individual or $7 million for a couple.

    Obama mulls estate tax choice | Reuters
    Last edited by AdamT; 01-18-12 at 12:44 AM.

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