View Poll Results: Should we fault Romney if he paid 0% taxes? Is the fair tax better than current?

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  • Yes fault him. Yes Fair tax is better

    3 15.00%
  • Yes fault him. No Fair tax is worse

    4 20.00%
  • Don't fault him. Yes Fair tax is better

    10 50.00%
  • Don't fault him. No Fair tax is worse

    3 15.00%
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Thread: Let's assume Romney paid 0% income tax

  1. #21
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    Re: Let's assume Romney paid 0% income tax

    Quote Originally Posted by fredmertzz View Post
    Let's assume Romney releases his returns willingly and shows that he paid 0% income tax.

    There are two scenarios that this happened: legally or illegally. If done illegally, then obviously his run is over, so there is no debate to be had there.

    But if it was done legally, which is the point the democrats are REALLY trying to imply (or flat out accuse), is this a negative on Romney?

    He followed the law and managed the laws in the most efficient and cost-effective manner. These seem like positive character traits to me. It also seems like a TERRIBLY broken system. But I wouldn't fault Romney for the system being broken.

    Which leads to a second question - Wouldn't a fair tax be preferable over this so-easily broken system that we have? The rich would pay much more in taxes and you guarantee their tax rate won't be less than that of the middle-class. Even if you think they ought to pay more percentage (which is debatable) - the system becomes corrupt far too easily under the current IRS-Based structure - how is THIS better?

    So the question is (not if it would hurt him politically), if Romney paid 0% in taxes, should we fault him for it? Is the 'fair tax' a better system?
    You are forgetting the most important part.

    The key issue is FOREIGN banks and countries that he pays ZERO (legal) taxes in but the USA poor and middle class cant also
    use.
    Or that he has special stock that is exempt from inheritance taxes that agian, the rest of USA cant get.

    You have to have a world picture to understand the Romney tax issue. its not about the IRS at all. he has no money in USA.

    ie
    Tax haven - Wikipedia, the free encyclopedia

  2. #22
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    Re: Let's assume Romney paid 0% income tax

    Quote Originally Posted by Gipper View Post
    It's a negative to perception, yes. However, the chances of it being zero are, as mentioned, zero. You really can't effectively weasel out of capital gains taxes, which is what many of these rich folks get their wages taxed at.

    You can close loopholes if you want, but others will open up, and there will be dry periods of non-investment in those down times.
    yes you can pay ZERO cap gains taxes.

    Keep your money in the Caymans. Simple.

  3. #23
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    Re: Let's assume Romney paid 0% income tax

    Quote Originally Posted by Mordent View Post
    15% consumption tax. 10% to the state, 5% to the fed-gov. Exempt food. Make it illegal for government to spend more than it receives in revenue.
    This is a terrible idea.

    Why you say? In a recession as revenue decrease, expenditures decrease resulting in reducing total demand. Reducing aggregate total demand in a recession leads to an even stronger recession resulting in even less revenue. Hypothetically, you could run the government down to paying nothing but debt servicing and eventually forcing a default. An annual balanced budget amendment during a deep recession could reasonably cause a government wide bankruptcy. Why backers of this don't understand this is beyond me. It's basic economics and accounting. Anyone who has even the slightest understanding of how demand works in an economy should realize an annual balanced budget is a ticking timebomb.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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