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. #41
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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by snilloctjc View Post
    Say what? figures don't lie I paid 7.35% Social Security and Medicare are not relevant on the 1040.
    My mistake. And thank you for setting me straight. There's far too much misinformation/misunderstanding out there about Effective Tax Rate.
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    Re: Do you have a higher effective tax rate than mitt romney

    I pay no income tax, im poor

  3. #43
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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by earthworm View Post
    I may have
    When a man tallies up the oval-all tax load (sales,nuisance,local, school, real estate, state, and federal.
    Did I ever say that tax reform is necessary ?
    And will a SOB like Romney or Gingrich do anything other than try to lower their taxes???????
    IMO, a man is greedy if he "earns" more than $100,000 annually..
    So lets really tax them !
    And this will never happen as long as the conservatives are "in power".
    Compared to me, even Obama is a conservative, BION..
    You really have a strange definition of rich and greed.

    By what right is a free society do you target establish a tax rate simply to take more because it is there?
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  4. #44
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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by celticwar17 View Post
    I pay no income tax, im poor
    Do you still get a tax return based on tax credits?
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  5. #45
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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by earthworm View Post
    I may have
    When a man tallies up the oval-all tax load (sales,nuisance,local, school, real estate, state, and federal.
    Did I ever say that tax reform is necessary ?
    And will a SOB like Romney or Gingrich do anything other than try to lower their taxes???????
    IMO, a man is greedy if he "earns" more than $100,000 annually..
    So lets really tax them !
    And this will never happen as long as the conservatives are "in power".
    Compared to me, even Obama is a conservative, BION..
    It is telling you pointed only at Republicans
    Pelosi, Reid, Obama, Kerry, et.al., are also over your 100K, Seemed a while back they controlled Congress and did nothing.
    please stop your partisan hacking.
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  6. #46
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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by MaggieD View Post
    He's not paying less of a percentage than most Americans. Remember, 47% of taxpayers pay nothing at all. Someone making $60,000 is not paying 18%. A married taxpayer earning $60,000 taking no deductions, having one child, is paying 5.75%. Single taxpayers, no dependents, get screwed, however. Their tax rate is 14.58% on that same $60,000. Our tax code is a freakin' MESS.
    It is, we need to get rid of a lot of the confusion. Single or married shouldn't matter. Kids should not come with a tax deduction. Charitable contributions should be capped.
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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by Higgins86 View Post
    doesn't matter how much money he paid if he is still paying a less % than many Americans. If I say earned $60k in a year and got taxed 18% I have sacrificed more for taxes than Romeny and have far less to spend on my family than he does!
    And contributed far less to the total revenue stream of the government and to programs that the government runs.

    You're choosing one arbitrary means to determine why someones "sarcifice" is essentially more "fair", others choose a different one...neither of you are universally right because its entirely an opinion based thing.

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

    Quote Originally Posted by Higgins86 View Post
    not according to the 2012 US tax bracket
    So you want to compare Romney's effective tax rate after deducations with the flat, non-deduction tax brackets.

    Awesome

    Romney pays less in taxes then Jerry Buss pays in Luxury Tax in the NBA. He must be stopped!

    WOO! I can compare two ENTIRELY DIFFERENT THINGS too.

  9. #49
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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by Higgins86 View Post
    doesn't matter how much money he paid if he is still paying a less % than many Americans. If I say earned $60k in a year and got taxed 18% I have sacrificed more for taxes than Romeny and have far less to spend on my family than he does!
    Using 2011 tax 1040 and tax tables:

    Single person no dependents (versus Romney Married filing jointly)
    $50,000 Salary/wages etc
    -$3,700 1 exemption (single)
    -$5,800 Standard Deduction

    Taxable Income = $40,500

    Tax from Tax Table $6,244

    $6,244 / $50,000 = 12.4%
    $6,244 / $40,500 = $15.4%


    Per the tax table a married couple filing jointly and no kids (similar to Mitt) making $50,000, and taking the standard deduction would have taxable income of $31,000 and would have a tax bill of $3,804 or 7.6% of Adjusted Gross Income (line 38 IRS Form 1040)

    Facts are really pesky

    47% of people pay no taxes and in fact a good portion of this group end up getting a refund in excess of what they had withheld due to credits
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    Re: Do you have a higher effective tax rate than mitt romney

    Mine is 10.79%.

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