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Thread: Mitt Romney: 'I Never Paid Less Than 13 Percent' In Taxes

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    Re: Mitt Romney: 'I Never Paid Less Than 13 Percent' In Taxes

    Quote Originally Posted by Caine View Post
    Why? What do those forms have to do with his ability to be a leader of this nation?

    What possible information could be contained within that would cause him to withdraw?
    If he's done nothing wrong, then what's the harm in releasing them?

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    Re: Mitt Romney: 'I Never Paid Less Than 13 Percent' In Taxes

    Quote Originally Posted by waas View Post
    If he's done nothing wrong, then what's the harm in releasing them?
    The "Harm" is that a complicated tax return like his can be twisted to make all kinds of political arguements that take away from the important things in this ellection, like our $16,000,000,000,000 in debt ... or the fact that the unemployment rate hasnt been below 8% since the stimulus... or the 13% unemployment rate for blacks...

    or our $96,000,000,000,000 in unfunded liabilities

    Quote Originally Posted by David Walker former Comptroller of the US

    $50 trillion in off-balance sheet obligations, $37 trillion for Medicare, $9 trillion for Social Security and those numbers grow faster than inflation and faster than the economy when the economy grows,"
    Yaknow little things like that

    Former Comptroller David Walker: Unfunded Liabilities Could Ultimately Sink US
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    Re: Mitt Romney: 'I Never Paid Less Than 13 Percent' In Taxes

    Quote Originally Posted by waas View Post
    If he's done nothing wrong, then what's the harm in releasing them?
    What is there to gain in releasing them?

    Once they are released, a new conspiracy will be made up.... that happened to Obama, and its gonna happen to Romney too.
    "I condemn the ideology of White Supremacy and Nazism. They are thugs, criminals, and repugnant, and are against what I believe to be "The American Way" "
    Thus my obligatory condemnation of White supremacy will now be in every post, lest I be accused of supporting it because I didn't mention it specifically every time I post.

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    Re: Mitt Romney: 'I Never Paid Less Than 13 Percent' In Taxes

    Quote Originally Posted by waas View Post
    If he's done nothing wrong, then what's the harm in releasing them?
    and if he filed proper tax returns, why do you need the details?

    Isn't your beef really with the tax code?. Admit it, you want the rich to pay more. Blame Congress for the tax code. Not for someone who filed a proper return.

    So lets say Romney releases 10 years worth of records and it shows what he has said. Would you then vote for him?

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    Re: Mitt Romney: 'I Never Paid Less Than 13 Percent' In Taxes

    Quote Originally Posted by TurtleDude View Post
    the tax system is NOT SUPPOSED TO BE PROGRESSIVE-some TYPES OF TAXES are some are not so stop the lies.
    You are the liar. Here is my proof that you don't know what you are talking about.
    As tax time approaches, many are debating whether high-income taxpayers should pay more or whether their tax rates are already too high. This debate is particularly relevant today because of the economic struggles many Americans are experiencing, and because of the longer-term trend of rising inequality. A host of economic forces, like changes in technology, increases in international competition, and other changes in the labor market, such as the decline of unions and a falling real minimum wage, have reduced job opportunities and wages for some American workers, but expanded opportunities and incomes for others. In fact, the earnings and market incomes of many middle-class and lower-income households have stagnated and even declined over time, while incomes at the top of the income distribution have risen dramatically. The United States has traditionally boasted a progressive tax code—one in which the tax rate increases as income increases. A key question for policymakers, then, is how the tax system should respond to the current challenges—how progressive should the tax code be?

    The purpose of any tax system is to raise revenues to fund government programs. But the challenge to designing a good tax system is raising revenues in a way that minimizes economic harm. That means being concerned not just with economic incentives in the tax code, but also the ability to pay of hard-hit middle- and lower-income households, whose incomes and employment prospects have been hurt by economic forces beyond their control. By basing tax rates on income and one’s ability to pay, a progressive tax system prevents these households from suffering the double burden of hard economic times and higher taxes.
    Just How Progressive Is the U.S. Tax Code? | Brookings Institution

    Quote Originally Posted by TurtleDude
    The only people being given privileges are people like you who pay far less and still get the same citizenship benefits.
    Again you lie. You know nothing about me except I have stated my effective tax rate is higher than Romney's 14%, and I make less than Romney. What exact privilege do you think I am being "given" that you don't think I have earned? Please specify, or just stop your lying.

    Quote Originally Posted by TurtleDude
    Many rich people have mainly salary income yet they pay far more of that in taxes than you do
    You don't know what I pay, and you don't know what they pay. Stop making thing up, or show up with some facts and support the statement, like I have shown above.

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    Re: Mitt Romney: 'I Never Paid Less Than 13 Percent' In Taxes

    your post is a rare combination of idiocy and class warfare. Your effective tax rate is not higher than Romney's on like income

    why

    1) he pays the highest possible rate on EARNED INCOME

    2) he pays the highest possible rate on investment income

    on other forms of taxes everyone pays the same rate-such as gasoline or sales tax (in a jurisdiction)

    he lives in a state with a state income tax

    he also will face the death tax.

    You get the same vote I do yet I pay over 300K a year in federal income tax alone and near another 100 in state income taxes.

    romney pays 10X what I do and you are whining about us?

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    Re: Mitt Romney: 'I Never Paid Less Than 13 Percent' In Taxes

    Quote Originally Posted by Μολὼν λαβέ View Post
    Like his transcripts?
    Check in with us once you understand the concepts of equivalence and relevance.

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    Re: Mitt Romney: 'I Never Paid Less Than 13 Percent' In Taxes

    Quote Originally Posted by TurtleDude View Post
    your post is a rare combination of idiocy and class warfare. Your effective tax rate is not higher than Romney's on like income
    you are the idiot who can't support his position with any facts, like I supported my position with facts, invited you to do, and you show back up with NOTHING.

    Then I will show your ignorance on tax matters, because when you speak of "effective tax rate", there is NO DISTINCTION ON TYPE OF INCOME. NONE, NADA.

    Here is the definition of "effective tax rate":
    Which is why you'll want to take a peek at your effective tax rate. Your effective tax rate reveals the average rate of taxation for all your dollars. It's your total tax obligation (including your income tax and any other additional taxes and/or credits), divided by your total taxable income.
    Fool.com: Tax Rates: Marginal vs. Effective [Ask the Fool] December 19, 2001

    That means there is no concept of "like income" in the effective tax rate, it only uses "total taxable income" as the divisor. In this calculation, the income is NOT BROKEN OUT BY TYPE, rendering the point you were trying to make an invalid point.


    Quote Originally Posted by TurtleDude
    1) he pays the highest possible rate on EARNED INCOME

    2) he pays the highest possible rate on investment income
    Which is irrelevant to the discussion. We are supposed to have a progressive tax system, where the richest people pay the highest tax rate because they have the ability to pay it. The repubs have put loopholes in the system so the rich can avoid paying the high marginal rates they should pay, by making investment income "tax advantaged", and they have gone so far that the very rich pay tax at a lower rate than middle income people. Warren Buffet says he pays at an effective rate that is lower than his secretary, and Buffet says its wrong, and Buffet is correct. And I have said that Romney pays a lower effective rate on his $20 million annual income than I pay on my considerably lower income. So, we're supposed to have a progressive tax system, but it is rigged so it has lost its "progressiveness".

    This is not about class warfare, its about fairness in the tax code, and not letting the republicans rig the tax code and give advantageous treatment to investment income that it does not deserve.
    Last edited by finebead; 08-23-12 at 01:12 AM.

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    Re: Mitt Romney: 'I Never Paid Less Than 13 Percent' In Taxes

    Quote Originally Posted by finebead View Post
    This is not about class warfare, its about fairness in the tax code, and not letting the republicans rig the tax code and give advantageous treatment to investment income that it does not deserve.
    So is it your contention that only Republicans have followed the approved tax laws on investment income? For example, has Pelosi written a check to the Tres. for the difference?

    While I won't disagree with you that the tax code needs overhauled. I will disagree that it is one parties fault over another. I would bet that all "rich" politicians who have investment income use the current tax laws. There are many long term politicans from both parties. Our tax code mess is not just one parties fault.

    I have said it before. Congress and the President need to show they can get the fiscal house in order first. Then lets talk about having more tax dollars. Until then, how confident are you that if Congress changes the tax code to receive more revenue from the "rich", that Congress won't just spend it away? I have seen no effort by either party to really put forth a deficit reduction plan, produce a balanced budget, and work towards retiring the national debt.

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    Re: Mitt Romney: 'I Never Paid Less Than 13 Percent' In Taxes

    What I don't get is why people werent screaming for John "I got a purple heart fragging myself" Kerrys tax returns he has a greater net worth than Mitt... And I am sure Theresa has some of her ketchup money offshore...
    History does not long entrust the care of freedom to the weak or timid. - Ike

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