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

  1. #941
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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by Catawba View Post
    Is that what you think was done in the 90's???
    there was a huge dot com bubble that meant those who were taxed more had more net income. If it wasn't for that dot com bubble clinton's tax hikes would have had far more deleterious effects and would have resulted in far tougher reelection campaign

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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
    Did I make that claim about you? I was referring to Catawba. But you certainly back the government taking more wealth from the rich-didn't you claim the rich should drop to their knees and beg the government for the PRIVILEGE of keeping what they have? I think OR67 referred to that as disturbing fascism or something like that
    I back the raising of taxes on ALL AMERICANS who have income. I thought that had been made clear in many posts?

    And I certainly do think that ALL PEOPLE who have reaped the rewards of a good life should be thankful. The rich included, perhaps more than anyone else since they have a lot more to drop to their knees and give thanks for. People have been doing just that for thousands of years and why would it be such a foreign concept to you?
    Last edited by haymarket; 01-22-12 at 03:12 PM.
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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
    I back the raising of taxes on ALL AMERICANS who have income. I thought that had been made clear in many posts?

    And I certainly do think that ALL PEOPLE who have reaped the rewards of a good life should be thankful. The rich included, perhaps more than anyone else since they have a lot more to drop to their knees and give thanks for. People have been doing just that for thousands of years and why would it be such a foreign concept to you?
    yeah but you want the rich to pay so much more. You also are a huge fan of massive death taxes (AKA estate taxes)

    no one believes your attempt to modify what you intended with that comment.

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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
    yeah but you want the rich to pay so much more. You also are a huge fan of massive death taxes (AKA estate taxes)

    no one believes your attempt to modify what you intended with that comment.
    I have clearly stated that ALL people with income should have five points added to the bracket that they are now in. You cannot get more egalitarian than that.

    I would be in favor of abolishing all estate taxes. All we have to do is to follow the advice I have been giving for a long time now, consider all money going into a persons pocket as income and apply the proper bracket accordingly. If we did that, we have no reason to have special estate taxes.
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    Re: Romney's tax rate is only half as high as the middle class pays

    Quote Originally Posted by Dickieboy View Post
    First, did you read any of these links?
    Yes, I read all three links. Did you???


    Second, how EXACTLY do these infer there will be a 'end the supply side economics'?
    Tax cuts for the rich are what supply side economics recommended. Eliminating those tax cuts for the rich would be moving away from supply side economics, especially the tax cuts for outsourcing jobs that Democrats have put up a bill to end, which of course was blocked by the GOP

    Interesting quote from the article “Increasing taxes on millionaires may not harm the economy, but it will not help it either,” said Don Lindsey, chief investment officer at George Washington University, who participated in the survey. “What we need is a complete overhaul of the tax system.”
    I agree that just eliminating the tax cuts for the rich will be not enough, in addition we need to overhaul the whole tax system and get rid of the loopholes that allow the rich to pay lower tax rates than the middle class.

    According to the Bloomberg Global Poll from the article:

    "The call for the rich to pay more, however, found backing among financial professionals in the quarterly Global Poll of 1,031 investors, analysts and traders who are Bloomberg subscribers. “Higher tax payments could help to avoid or delay potential social disturbances and in addition create some kind of a general solidarity,” says Henry Littig, chief executive officer of Henry Littig Global Investments AG in Cologne, Germany, a poll respondent."
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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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
    Your posts general rant about the rich having to pay more taxes. You don't call for the middle class to pay more taxes-the ratio of their share of the income vs their share of the income tax is the least burdensome in 60 years.

    Why don't you support massive spending cuts before demanding ANYONE pay more taxes?
    Because I know enough about economics to know that making spending cuts when the private market is not producing makes a recession worse.

    Over the last 30 years tax rates for the middle class were increased and tax rates for the rich were cut, this was called supply side economics. The theory was this would produce more jobs.

    We now know this did not happen, and only made the rich richer and more of the middle class poor.

    So, there is simply no reason to support the tax cuts for the rich any longer.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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

    Quote Originally Posted by Centinel View Post
    I don't see it that way exactly. I think it's a desire to be the ruler over others.
    Like we were in the 1990s when both sides came together to both cut spending and increase revenues?

    That's your idea of a dictatorship???
    Last edited by Catawba; 01-22-12 at 03:51 PM.
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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
    there was a huge dot com bubble that meant those who were taxed more had more net income. If it wasn't for that dot com bubble clinton's tax hikes would have had far more deleterious effects and would have resulted in far tougher reelection campaign
    How did the slight increases in tax rates hurt that economic growth???

    With the realization that trickle down economics doesn't create jobs, there is no incentive to continue to support it.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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

    Quote Originally Posted by Catawba View Post
    Like we were in the 1990s when both sides came together to both cut spending and increase revenues?

    That's you idea of a dictatorship???
    No, I mean placing more of what were once private individual concerns and responsibilities in the hands of the government, and worse yet a distant, centralized, corrupt federal government.

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

    Quote Originally Posted by Catawba View Post
    Yes, I read all three links. Did you???
    Yes as I feel it would be disrespectful for me not to if you spent the time to search and post them, especially if I intend to respond to them.

    Tax cuts for the rich are what supply side economics recommended. Eliminating those tax cuts for the rich would be moving away from supply side economics, especially the tax cuts for outsourcing jobs that Democrats have put up a bill to end, which of course was blocked by the GOP
    Not quite, supply side economics argues reducing the tax rates on EVERYBODY not just the rich. Coincidently the Democrats are against section 199, ‘Domestic manufacturing tax deduction’, of the tax code which is argued to promote DOMESTIC manufacturing thus promoting outsoucing…


    I agree that just eliminating the tax cuts for the rich will be not enough, in addition we need to overhaul the whole tax system and get rid of the loopholes that allow the rich to pay lower tax rates than the middle class.
    Maybe you misread the quote. It said ‘it will not help’ not ‘will not be enough’. See the difference?

    According to the Bloomberg Global Poll from the article:
    "The call for the rich to pay more, however, found backing among financial professionals in the quarterly Global Poll of 1,031 investors, analysts and traders who are Bloomberg subscribers. “Higher tax payments could help to avoid or delay potential social disturbances and in addition create some kind of a general solidarity,” says Henry Littig, chief executive officer of Henry Littig Global Investments AG in Cologne, Germany, a poll respondent."
    A poll of ‘global’ investors is legitimate when considering US DOMESTIC economic policy? Is their agenda aligned with ours?

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