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

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  • Yes

    27 60.00%
  • No

    18 40.00%
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Thread: Do you have a higher effective tax rate than mitt romney

  1. #201
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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by Keridan View Post
    The death tax is for another thread
    You are the one that asked what tax cuts the rich got, the inheritance tax cut is one of them.

    It's time to look at capital gains again, I have said that many times, but those cuts did increase revenue at the time.
    No, the tax cuts prevented the revenues from rising as much as they would have otherwise. There is no doubt that capital gains tax rates need to be increased.


    Help me with your reference to outsourcing incentives, please.
    The Democrats even tried to stop it and the GOP blocked them:

    GOP, U.S. Chamber Of Commerce Beat Back Bill To Combat Outsourcing



    So, my argument is that they did a poor job of handling our money and your counterpoint is that they should be leading the world?
    The majority of Democrats voted against the war in Iraq, and are calling for increasing spending on the military again, unlike the Democrats have proposed cutting spending for the military. I think we need spending cuts rather than the spending increases that Romney is calling for.


    My position is that those funds should be locked away and you are saying that we might as well throw it into FIT because the government overspent and use it as another way to tax people more for the general fund.
    I was for Gore's plan for locking SS funds when he first brought it up but people decided to go with the guy they thought they would rather have a beer with instead.
    I understand the Democrats have a new plan to lock the SS funds, I am glad to hear that you are in support of their plans for locking the funds!
    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: Do you have a higher effective tax rate than mitt romney

    Edit to post above: It is Romney that is proposing increased spending on the military industrial complex and the Democrats who are proposing cutting spending on the military industrial complex.
    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

  3. #203
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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by Keridan View Post
    Do you work in food service?
    Active Duty Military.


    Mind you, the benefits aren't taxed, and they include living on base and $323 a month for eating.

  4. #204
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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by TurtleDude View Post
    I wonder how many of the 21 who said yes are actually paying a federal income tax effective rate of 15%.

    I bet not many of them
    given that only 3% of America pays a higher rate than Romney does, I would bet you are probably correct.

  5. #205
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    Re: Do you have a higher effective tax rate than mitt romney

    using maggie's calculation i would pay 12.5% in federal tax. I make 50k a year and have no dependents. My state income tax is 5 percent. Add on fica and you get an effective rate of 23.15%
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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by 99percenter View Post
    using maggie's calculation i would pay 12.5% in federal tax. I make 50k a year and have no dependents. My state income tax is 5 percent. Add on fica and you get an effective rate of 23.15%
    massive fail, FICA is not part of the federal income tax. and it doesn't include the death tax either

  7. #207
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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by TurtleDude View Post
    massive fail, FICA is not part of the federal income tax. and it doesn't include the death tax either
    Fica is a mandatory tax paid by all wage earners and employers. Tell the IRS you want to opt out and see what they say. If i die i don't get the money i paid into it. Epic fail on your part. Besides my effective rate is higher without Fica.
    bears, bulls, white sox fan 4 life!!!

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

    Quote Originally Posted by 99percenter View Post
    Fica is a mandatory tax paid by all wage earners and employers. Tell the IRS you want to opt out and see what they say. If i die i don't get the money i paid into it. Epic fail on your part. Besides my effective rate is higher without Fica.
    Yes, it is a tax, you're right. BUT it is also insurance. It's really not too hard to see the parallels. There are far more benefits from Social Security than simply a guaranteed retirement sum. All the while one is working, they are insured against disability. If a worker dies with minor children, those children are entitled to benefits...widows are entitled to early benefits. It's not "just" a tax.
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    Re: Do you have a higher effective tax rate than mitt romney

    When Romney released his tax records he created a sticky wicket for himself and the GOP. They have turned the presidential election focus to this question:


    Why is investment income taxed less than wages?


    "Why do Mitt Romney and other wealthy investors pay lower taxes on the income they make from investments than they would if they earned their millions from wages? Because Congress, through the tax code, has long treated investment more favorably than labor, seeing it as an engine for economic growth that benefits everyone.

    President Barack Obama and the Occupy Wall Street movement are challenging that value system, raising volatile election-year issues of equity, fairness — and Romney's tax returns.

    Romney, who released his 2010 and 2011 tax returns this week, has been forced to defend the fact that he paid a tax rate of about 15 percent on an annual income of $21 million. His tax rate is comparable to the one paid by most middle-income families. His income, however, is 420 times higher than the typical U.S. household."
    Why is investment income taxed less than wages? - CBS News
    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

  10. #210
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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by 99percenter View Post
    Fica is a mandatory tax paid by all wage earners and employers. Tell the IRS you want to opt out and see what they say. If i die i don't get the money i paid into it. Epic fail on your part. Besides my effective rate is higher without Fica.
    that is a stupid argument. its not an income tax

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