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

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

    Quote Originally Posted by winston53660 View Post
    You haven't been around very much have you?

    Amazing a poor little ole Texas boy knows New Hampshire has no sales tax, huh?

    But guess what rich boy they have a dividends and interest tax:

    Does NH have an Income Tax or Sales Tax? | Frequently Asked Questions | NH Department of Revenue Administration
    that's a rather silly comment but I guess you should take "victories" wherever you can even if it has no relevance to the discussion. I guess the poster who claimed Mitt paid less than one percent of his income in "regressive" taxes or state taxes (not the same thing of course but he assumed they are) isn't talking much anymore. Mitt's total tax bill is far more than the 15% he pays on investment income to the feds

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

    Quote Originally Posted by teamosil View Post
    If Kerry pays 15% that is way too little too. But Kerry isn't out there campaigning for the rich to pay even less and the middle class to absorb the cost of their tax break, so it doesn't really hurt him politically. Romney is trying to deny that a problem exists which he himself exemplifies. That's why it is so devastating for him.
    the problem only exists in the envious minds of wealth hating lefties

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

    Quote Originally Posted by haymarket View Post
    Because a tax is a tax is a tax. It is money taken out of the pocket or account of the citizen and given to the government.
    Any honest discussion of American taxation should include All taxes paid by ALL citizens to ALL levels of government for any purpose.
    not when the issue involves how progressive a tax is when that discussion is polluted by the inclusion of taxes that are not progressive and were never intended to be progressive and are not levied by the same sovereign

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

    Quote Originally Posted by haymarket View Post
    Until he actually produces those tax returns for public scrutiny, we can only guess what he was talking about.

    Obviously we can discuss one tax on its merits without discussing all taxes all the time. My point is simply to say that when somebody is ranting about the injustices of the progressive income tax upon the wealthy, and others bring in the reality that we have tons of regressive taxes that hit average or even poor people much harder as a percentage paid from their income, it is important to look al all taxes paid by all Americans to all levels of government to get the true accurate picture of taxation in America.
    I can agree with that. Actually, I think one of the best posts on this thread comes from you where you "thanked" Romney for his comment since it will shine a bright light on this favored treatment. I think it needs review...which, if I'm not mistaken, will happen this year when this favored treatment expires.

    I still don't know what unintended consequences this will have, however. Perhaps the best way to approach this is some version of an Alternative Minimum Tax for all those over $X in gross income.
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    Re: Romney reveals he pays about 15% in taxes(edited)

    Quote Originally Posted by MaggieD View Post
    I can agree with that. Actually, I think one of the best posts on this thread comes from you where you "thanked" Romney for his comment since it will shine a bright light on this favored treatment. I think it needs review...which, if I'm not mistaken, will happen this year when this favored treatment expires.

    I still don't know what unintended consequences this will have, however. Perhaps the best way to approach this is some version of an Alternative Minimum Tax for all those over $X in gross income.
    when we end the practice of 47% paying absolutely NO income tax even though most can afford SOMETHING then perhaps we can revisit why someone paying millions in taxes ought to pay even more. The AMT was one of the worst pieces of legislation that ever hit America BTW. and its not "favored" treatment anymore than FICA is "favored. Short term capital gains are taxed the same as earned income because they have less risk and no issue with inflation. and dividends are taxed twice even if the wealth stealers deny it. the same pot of money is taxed twice by the government and that is UNDENIABLE

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

    Quote Originally Posted by TurtleDude View Post
    when we end the practice of 47% paying absolutely NO income tax even though most can afford SOMETHING then perhaps we can revisit why someone paying millions in taxes ought to pay even more. The AMT was one of the worst pieces of legislation that ever hit America BTW. and its not "favored" treatment anymore than FICA is "favored. Short term capital gains are taxed the same as earned income because they have less risk and no issue with inflation. and dividends are taxed twice even if the wealth stealers deny it. the same pot of money is taxed twice by the government and that is UNDENIABLE
    Oh, I am soooo with you there, Turtle. (Re the 47%) Yeah, I don't even understand the AMT. I had to pay it one year and didn't even know why. I think it's a whore's nightmare, so using that label is a mistake on my part. But hopefully you get what I mean....by another name. It would be possible for someone earning $100 million a year to pay absolutely NO Federal income tax, yes? (Tax-free muni's) That's even worse than those people on the low end of the spectrum who pay nothing.

    I agree with you re dividends. They are most certainly taxed twice.
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    Quote Originally Posted by AdamT View Post
    Want to bet that he claims NH as his state of residence for tax purposes? No income tax there, though they do have a 5% tax on interest and dividends.
    And yet...when it was revealed that Kerry bought and registered his yacht in RI liberals here were tripping over themselves to excuse his behavior. Hey...it's not illegal! It makes good business sense!!!

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    Quote Originally Posted by Your Star View Post
    And that is ****ed up too. And since when is Kerry a "liberal hero"?
    He is one of those very prominent liberals today. A leader in the senate. And ****ed up indeed...but no the point. The liberal on THIS SITE didn't see fit to call of Kerry...democrat...liberal. Shocking.

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

    Quote Originally Posted by VanceMack View Post
    He is one of those very prominent liberals today. A leader in the senate. And ****ed up indeed...but no the point. The liberal on THIS SITE didn't see fit to call of Kerry...democrat...liberal. Shocking.
    Kerry is as much a "liberal hero" as McCain is a "conservative hero." To put it in perspective.

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

    Quote Originally Posted by VanceMack View Post
    And yet...when it was revealed that Kerry bought and registered his yacht in RI liberals here were tripping over themselves to excuse his behavior. Hey...it's not illegal! It makes good business sense!!!
    Right, and I would defend Romney, too. He'd be stupid NOT to use NH as his residence for tax purposes. My objection is to the tax laws -- not to people who make the most of them. It is expected that people will do whatever they can to minimize their tax exposure.

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