View Poll Results: Do you have a higher effective tax rate than mitt romney?

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Thread: Do you have a higher effective tax rate than mitt romney

  1. #91
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    Re: Do you have a higher effective tax rate than mitt romney

    I checked my last three years of returns - and YES I do. But then I make my money in good old fashioned wages so the government does not give me the discriminatiory preferencial rate that it does for most of Romney's money.
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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by teamosil View Post
    It isn't Romney's fault. Not at all. It's a problem with the tax code. Romney's example just highlights how screwed up it is.

    It also creates a major political problem for Romney though. He can't stand there anymore and run the "the rich are paying their fair share" angle anymore because he himself disproves that. The Bain history also makes it hard for him to use the "the rich are job creators" line too. So, he's pretty much hogtied on the core planks of the Republican platform.
    Well said. Hopefully, this return will spark a loud national debate on the entire issue of capital gains preferences and the discriminatory rate it offers. In the edn, Romney and others like him may end up doing a public service...................... just not the one they intended to perform.
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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by haymarket View Post
    I checked my last three years of returns - and YES I do. But then I make my money in good old fashioned wages so the government does not give me the discriminatiory preferencial rate that it does for most of Romney's money.
    You pay a higher effective FIT rate than 13.9%?? Wow, you must make a lot of money.
    Omniscience just sucks without omnipotence!

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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by Keridan View Post
    You pay a higher effective FIT rate than 13.9%?? Wow, you must make a lot of money.
    A professional does my taxes. he provides me with a sheet which tells me what my tax rate was. It is higher than 13.9.

    Do I make a lot of money? Some here have called me a unsuccessful loser who is only trying to attack the winners in our society. So its hard to say.
    Last edited by haymarket; 01-26-12 at 01:43 PM.
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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by Keridan View Post
    You pay a higher effective FIT rate than 13.9%?? Wow, you must make a lot of money.
    You don't need to make that much....
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by haymarket View Post
    A professional does my taxes. he provides me with a sheet which tells me what my tax rate was. It is higher than 13.9.

    Do I make a lot of money? Some here have called me a unsuccessful loser who is only trying to attack the winners in our society. So its hard to say.
    Since I don't suppose you'll release that sheet (and I don't think you should have to), we will have to work within the information we have here. On that sheet, does it list just your FIT or does it include your FICA and State taxes as well. Hugely different beasts. If you need a breakdown of why and want to answer it, I started a thread just for that purpose at http://www.debatepolitics.com/genera...-and-fica.html and I would love your input.

    I'm also not asking for your income amount because there is no need, but I would like an honest answer if you are going to state them as evidence. How much of your percentage was FICA, State, and Federal?

    Secondly, I have not called you those things. Please don't ascribe it to me as that will not help discussion along.

    Quote Originally Posted by iliveonramen View Post
    You don't need to make that much....
    The minimum amount of income when filing married jointly (as one has to assume Romney does) is $112,600.00. Now, the problem is that since we have very messed up incentives in this country, to get an actual comparison of only wealth-based rates, you have to assume the same number of dependents and familial deductions as he used. Otherwise, you aren't comparing wealth, but family size. One could even get into showing a similar % of deductions from businesses and such to make a fair income comparison, but I only mention that and don't explore it because it's more debatable.
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    Re: Do you have a higher effective tax rate than mitt romney

    I don't know for certain, I'll try your link tomorrow...but I don't pay income tax at all and I get a hefty return every year, so I have confidence I'm paying less than 13%.

    In either case, I don't care about politicians doing shady things like hiding money...they're politicians, this is what they do. Obama isn't exactly blameless himself. I know that when I begin building wealth I'll be looking for ways to keep it away from Uncle Sam, too.

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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by Keridan View Post
    Since I don't suppose you'll release that sheet (and I don't think you should have to), we will have to work within the information we have here. On that sheet, does it list just your FIT or does it include your FICA and State taxes as well. Hugely different beasts. If you need a breakdown of why and want to answer it, I started a thread just for that purpose at http://www.debatepolitics.com/genera...-and-fica.html and I would love your input.

    I'm also not asking for your income amount because there is no need, but I would like an honest answer if you are going to state them as evidence. How much of your percentage was FICA, State, and Federal?

    Secondly, I have not called you those things. Please don't ascribe it to me as that will not help discussion along.



    The minimum amount of income when filing married jointly (as one has to assume Romney does) is $112,600.00. Now, the problem is that since we have very messed up incentives in this country, to get an actual comparison of only wealth-based rates, you have to assume the same number of dependents and familial deductions as he used. Otherwise, you aren't comparing wealth, but family size. One could even get into showing a similar % of deductions from businesses and such to make a fair income comparison, but I only mention that and don't explore it because it's more debatable.
    I will check that out tonight when I get home from work.
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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by haymarket View Post
    I will check that out tonight when I get home from work.
    I appreciate that. And please remember that I don't invalidate the numbers if they don't come directly from FIT, but it changes the basis for discussion and comparison.
    Omniscience just sucks without omnipotence!

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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by tessaesque View Post
    After I receive my tax refund and tuition "refund" I end up paying an effective rate of 3%. I claim 0 and do not file my charitable giving/donations. I take no deductions outside of my tuition, which isn't really a "deduction", I don't think...
    Damnit!!! I want a federal investigation.
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