• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

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

Status
Not open for further replies.
Re: Romney's tax rate is only half as high as the middle class pays

TurtleDude said:
MOre far left psychobabble. The "uber rich MAY OR MAY NOT pay a lower effective rate than the mere rich depending on the source of their income. The uber rich pay the top rate on earned income which has several brackets ending at 35% and they pay the upper of two brackets on investment income. the tax on investment income is not subject to several bracket but only a couple. Your pathetic attempt to confuse the two is just that-pathetic
Click to expand...

What is pathetic - to use a word of your selection - is the mental gymnastics you are putting yourself through to avoid the reality that many of the wealthy enjoy a tax rate of 15% because of capital gains while people who actually work for the same amount of money are paying 35%. No amount of verbal gyrations changes that reality.

http://www.taxpolicycenter.org/briefing-book/key-elements/capital-gains/lower-rate.cfm

[QUOTE]The benefits of low tax rates on capital gains accrue disproportionately to the wealthy. In 2013, an estimated 94 percent of the tax benefit of low rates on capital gains will go to taxpayers with cash incomes over $200,000, and three-fourths of the benefits will accrue to millionaires.
Click to expand...
[/QUOTE]
 
Last edited:
Re: Romney's tax rate is only half as high as the middle class pays

haymarket said:
What is pathetic is the mental gymnastics you are putting yourself through to avoid the reality that many of the wealthy enjoy a tax rate of 15% because of capital gains while people who actually work for the same amount of money are paying 35%. No amount of verbal gyrations changes that reality.
Click to expand...

again, you whine about the people who have that type of income which is an intellectually dishonest attack.

everyone gets a different rate on investment income. you are just upset that a system that is only applicable to earned income is not applicable to investment income. The wealth bashers want severe progressive structures applied to all taxes it appears.

But stop the silliness. The same group that decrees that earned income should be taxed progressively has decreed that other income should not. You claim that unearned income is treated more favorably? so what. The rich are treated worse in either case
 
Re: Romney's tax rate is only half as high as the middle class pays

haymarket said:
What is pathetic - to use a word of your selection - is the mental gymnastics you are putting yourself through to avoid the reality that many of the wealthy enjoy a tax rate of 15% because of capital gains while people who actually work for the same amount of money are paying 35%. No amount of verbal gyrations changes that reality.

What is the effect of a lower tax rate?

[/B]
Click to expand...
[/QUOTE]

I think it's important to remember that the average taxpayer pays an effective tax rate considerably lower than 15% on his income.
 
Re: Romney's tax rate is only half as high as the middle class pays

haymarket said:
What is pathetic is the mental gymnastics you are putting yourself through to avoid the reality that many of the wealthy enjoy a tax rate of 15% because of capital gains while people who actually work for the same amount of money are paying 35%. No amount of verbal gyrations changes that reality.
Click to expand...
I fail to see any inconsistency in the current law. For salary, everyone pays according to the same rate schedule. For gains, everyone pays according to the same rate schedule. Everyone pays once on their salary, and then if they invest their money, they pay again on their capital gain.

Personally, I'd prefer the federal government to be funded by a combination of revenue tariffs, excise taxes, and requisitions on the states (apportioned by population).
 
Last edited:
Re: Romney's tax rate is only half as high as the middle class pays

TurtleDude said:
again, you whine about the people who have that type of income which is an intellectually dishonest attack.

everyone gets a different rate on investment income. you are just upset that a system that is only applicable to earned income is not applicable to investment income. The wealth bashers want severe progressive structures applied to all taxes it appears.

But stop the silliness. The same group that decrees that earned income should be taxed progressively has decreed that other income should not. You claim that unearned income is treated more favorably? so what. The rich are treated worse in either case
Click to expand...

Not at all and I have no idea where you get such pontifications about my own beliefs. perhaps you can quote them for us so we know you are just not making this up?

I have repeatedly stated that I want ALL sources of income to be treated as INCOME regardless of where it comes from. That is about as egalitarian as you can get. It gets the government out of the business of discrimination and preferences as to where the money comes from and who benefits from it.

Whatever tax category and bracket you find yourself in, you pay that rate on all your income regardless of the source. Its American as cherry pie.

Of course Turtle, if you now want to make an intellectual case for discriminatory preferences, this would be the time as you never actually have despite the hundreds of times you defend such discriminatory preferences.

Will this finally be the time?
 
Re: Romney's tax rate is only half as high as the middle class pays


I think it's important to remember that the average taxpayer pays an effective tax rate considerably lower than 15% on his income.
Click to expand...
[/QUOTE]

And I am against that also Maggie. I have stated quite clearly that every single American who earns as little as one dollar should pay at least 5% in federal income taxes.
 
Re: Romney's tax rate is only half as high as the middle class pays

Centinel said:
I fail to see any inconsistency in the current law. For salary, everyone pays according to the same rate schedule. For gains, everyone pays according to the same rate schedule. Everyone pays once on their salary, and then if they invest their money, they pay again on their capital gain.

Personally, I'd prefer the federal government to be funded by a combination of revenue tariffs, excise taxes, and requisitions on the states (apportioned by population).
Click to expand...

The very rich are able to structure their income. Joe Plumber cannot. Look at Warren Buffett...part of his tax planning strategy is to only pay himself $100,000 a year as CEO of one of the largest conglomerates in the world. We all know he makes far more than that as the third richest man in the world. But legal tax loopholes allow him to "work the system." The average person can't do that.
 
Re: Romney's tax rate is only half as high as the middle class pays


I think it's important to remember that the average taxpayer pays an effective tax rate considerably lower than 15% on his income.[/QUOTE]

its also important to note that in actual tax dollars, Mitt pays more income tax than 60+ million americans combined yet only someone with an IQ under 50 could claim that Mitt uses more government services funded by the income tax than those 60+ million.
 
Re: Romney's tax rate is only half as high as the middle class pays

haymarket said:
And I am against that also Maggie. I have stated quite clearly that every single American who earns as little as one dollar should pay at least 5% in federal income taxes.
Click to expand...

that is a good start but it is also important to prevent those paying 15% from demanding others pay 45-50-60 percent. so if the rates are increased everyone should pay the same percentage increase
 
Re: Romney's tax rate is only half as high as the middle class pays

MaggieD said:
The very rich are able to structure their income. Joe Plumber cannot. Look at Warren Buffett...part of his tax planning strategy is to only pay himself $100,000 a year as CEO of one of the largest conglomerates in the world. We all know he makes far more than that as the third richest man in the world. But legal tax loopholes allow him to "work the system." The average person can't do that.
Click to expand...
Which is why I think that taxing income is such a bad idea. My preference would be for a low revenue tariff (1 or 2%) and a low general excise tax (1 or 2%), with any additional required funds being raised by requisitions on the states (apportioned by population).
 
Re: Romney's tax rate is only half as high as the middle class pays

TurtleDude said:
that is a good start but it is also important to prevent those paying 15% from demanding others pay 45-50-60 percent. so if the rates are increased everyone should pay the same percentage increase
Click to expand...

Ooops, look at you lying again. Nobody except those in Romney's super rich tier pay only 15%. Even people living in poverty pay 16% in taxes. The average American pays 27%. The average Democrat would pay slightly more than that. You know all that. We've been over it like 100 times. Quit playing dumb.
 
Last edited:
Re: Romney's tax rate is only half as high as the middle class pays

teamosil said:
Ooops, look at you lying again. Nobody except those in Romney's super rich tier pay only 15%. Even people living in poverty pay 16% in taxes. You know that. We've been over it like 10 times. Quit playing dumb.
Click to expand...

you have been napalmed on this issue. We are talking about mitt's income tax rate and you are dishonestly trying to include all taxes. percentage rates on sales tax, excise tax, airport tax, etc are IRRELEVANT.

People in poverty are paying taxes with MONEY GIVEN TO THEM BY THE GOVERNMENT. so stop the bloodclot lying. I tire of your posts which are dishonest and have been proven wrong

You started this thread to whine about Romney and the rich having income from investments.
 
Re: Romney's tax rate is only half as high as the middle class pays

haymarket said:
And I am against that also Maggie. I have stated quite clearly that every single American who earns as little as one dollar should pay at least 5% in federal income taxes.
Click to expand...

Well, we're sure on the same page there, Haymarket. Actually, though, I was referring to the fact that effective tax rates have little to do with one's marginal tax bracket. Whereas the 15% tax on cap gains is the effective tax rate for that type of income.

Example: A married couple make $70,000 in salaries. They have two children. Imputing $1,000 a month in mortgage interest as their only deduction, you'll see by this calculator that their effective tax rate is only 6.88%, or $4,816 in total Federal income tax paid. Their tax bracket and marginal tax rates are the same at 27%.

Marginal and Effective Tax Rates
 
Re: Romney's tax rate is only half as high as the middle class pays

teamosil said:
Ooops, look at you lying again. Nobody except those in Romney's super rich tier pay only 15%. Even people living in poverty pay 16% in taxes. The average American pays 27%. The average Democrat would pay slightly more than that. You know all that. We've been over it like 100 times. Quit playing dumb.
Click to expand...

You also appear not to have understood Haymarket's desire that everyone pay at least 5% on income no matter what. So not only are you lying about what I said, you apparently didn't have the ability to understand Haymarket's sensible proposal or my somewhat agreement with it. So what did I lie about when I said i agree that everyone should pay 5%
 
Re: Romney's tax rate is only half as high as the middle class pays

TurtleDude said:
you have been napalmed on this issue. We are talking about mitt's income tax rate and you are dishonestly trying to include all taxes. percentage rates on sales tax, excise tax, airport tax, etc are IRRELEVANT.
Click to expand...

Dude, it's impossible that you honestly still don't understand. Nobody cares that the taxes rich people pay have different names than the taxes middle class people pay. That has nothing to do with anything. Of course they pay different types of taxes. Some taxes target the middle class, some target the rich. Overall, there are a whole lot more than target working middle class people. That's the point. Do you really think that just screaming over and over that the taxes they pay are different taxes is an intelligent way to conduct yourself?

TurtleDude said:
People in poverty are paying taxes with MONEY GIVEN TO THEM BY THE GOVERNMENT. so stop the bloodclot lying. I tire of your posts which are dishonest and have been proven wrong
Click to expand...

What the hell are you talking about? Only 0.5% of people get welfare. Get a clue.
 
Re: Romney's tax rate is only half as high as the middle class pays

teamosil said:
Dude, it's impossible that you honestly still don't understand. Nobody cares that the taxes rich people pay have different names than the taxes middle class people pay. That has nothing to do with anything. Of course they pay different types of taxes. Some taxes target the middle class, some target the rich. Overall, there are a whole lot more than target working middle class people. That's the point. Do you really think that just screaming over and over that the taxes they pay are different taxes is an intelligent way to conduct yourself?



What the hell are you talking about? Only 0.5% of people get welfare. Get a clue.
Click to expand...

the lack of intelligence on this thread comes from thinking that the progressive rates applied to one form of tax is applicable to other taxes.

and what is your purpose for starting this thread? be honest
 
Re: Romney's tax rate is only half as high as the middle class pays

TurtleDude said:
the lack of intelligence on this thread comes from thinking that the progressive rates applied to one form of tax is applicable to other taxes.

and what is your purpose for starting this thread? be honest
Click to expand...

I dunno dude. Maybe this topic is just too hard for you. Pick an easier one maybe?
 
Re: Romney's tax rate is only half as high as the middle class pays

teamosil said:
I dunno dude. Maybe this topic is just too hard for you. Pick an easier one maybe?
Click to expand...

I guess after you getting schooled by me and several other posters when you confused Mitt's comments about his INCOME Tax rate and what his total tax bill is compared to his AGI you feel a need to pretend you are smarter than I am even though you are the one who needs big government and I do not. But I have not said anything in error and you were caught making one whopper of a screw up
 
teamosil said:
Welfare means the government program that cuts checks to people because they are in poverty- TANF. Duh.
Click to expand...

so it is your learned opinion that food stamps are NOT Welfare. OKIE DOKIE
 
winston53660 said:
Amazing what happened during the Great Bush Recession ain't it?
Click to expand...

the one started by botox bitch and Dingy Harry and accentuated by the filibuster proof senate and Obama?
 
TurtleDude said:
I guess after you getting schooled by me and several other posters when you confused Mitt's comments about his INCOME Tax rate and what his total tax bill is compared to his AGI you feel a need to pretend you are smarter than I am even though you are the one who needs big government and I do not. But I have not said anything in error and you were caught making one whopper of a screw up
Click to expand...

Everybody agrees that Romney pays mostly income taxes and most people pay mostly regressive taxes. Just screaming that over and over is idiotic. Everybody knows that. That has zero impact on what we're talking about- that the rich pay a much lower percentage of their income in taxes than working people do. Do you honestly not understand that? If you don't, you need to just settle yourself down and concentrate. If you do understand that and are just intentionally playing dumb to irritate people, then you need to find a hobby you aren't so bad at.

TurtleDude said:
so it is your learned opinion that food stamps are NOT Welfare. OKIE DOKIE
Click to expand...

Of course not. They're called "food stamps". Some people are on food stamps, some are on both welfare and food stamps.
 
Status
Not open for further replies.
Back
Top Bottom