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Romney reveals he pays about 15% in taxes(edited)

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winston53660 said:
You haven't been around very much have you?

Amazing a poor little ole Texas boy knows New Hampshire has no sales tax, huh?

But guess what rich boy they have a dividends and interest tax:

Does NH have an Income Tax or Sales Tax? | Frequently Asked Questions | NH Department of Revenue Administration
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that's a rather silly comment but I guess you should take "victories" wherever you can even if it has no relevance to the discussion. I guess the poster who claimed Mitt paid less than one percent of his income in "regressive" taxes or state taxes (not the same thing of course but he assumed they are) isn't talking much anymore. Mitt's total tax bill is far more than the 15% he pays on investment income to the feds
 
teamosil said:
If Kerry pays 15% that is way too little too. But Kerry isn't out there campaigning for the rich to pay even less and the middle class to absorb the cost of their tax break, so it doesn't really hurt him politically. Romney is trying to deny that a problem exists which he himself exemplifies. That's why it is so devastating for him.
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the problem only exists in the envious minds of wealth hating lefties
 
haymarket said:
Because a tax is a tax is a tax. It is money taken out of the pocket or account of the citizen and given to the government.
Any honest discussion of American taxation should include All taxes paid by ALL citizens to ALL levels of government for any purpose.
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not when the issue involves how progressive a tax is when that discussion is polluted by the inclusion of taxes that are not progressive and were never intended to be progressive and are not levied by the same sovereign
 
haymarket said:
Until he actually produces those tax returns for public scrutiny, we can only guess what he was talking about.

Obviously we can discuss one tax on its merits without discussing all taxes all the time. My point is simply to say that when somebody is ranting about the injustices of the progressive income tax upon the wealthy, and others bring in the reality that we have tons of regressive taxes that hit average or even poor people much harder as a percentage paid from their income, it is important to look al all taxes paid by all Americans to all levels of government to get the true accurate picture of taxation in America.
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I can agree with that. Actually, I think one of the best posts on this thread comes from you where you "thanked" Romney for his comment since it will shine a bright light on this favored treatment. I think it needs review...which, if I'm not mistaken, will happen this year when this favored treatment expires.

I still don't know what unintended consequences this will have, however. Perhaps the best way to approach this is some version of an Alternative Minimum Tax for all those over $X in gross income.
 
MaggieD said:
I can agree with that. Actually, I think one of the best posts on this thread comes from you where you "thanked" Romney for his comment since it will shine a bright light on this favored treatment. I think it needs review...which, if I'm not mistaken, will happen this year when this favored treatment expires.

I still don't know what unintended consequences this will have, however. Perhaps the best way to approach this is some version of an Alternative Minimum Tax for all those over $X in gross income.
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when we end the practice of 47% paying absolutely NO income tax even though most can afford SOMETHING then perhaps we can revisit why someone paying millions in taxes ought to pay even more. The AMT was one of the worst pieces of legislation that ever hit America BTW. and its not "favored" treatment anymore than FICA is "favored. Short term capital gains are taxed the same as earned income because they have less risk and no issue with inflation. and dividends are taxed twice even if the wealth stealers deny it. the same pot of money is taxed twice by the government and that is UNDENIABLE
 
TurtleDude said:
when we end the practice of 47% paying absolutely NO income tax even though most can afford SOMETHING then perhaps we can revisit why someone paying millions in taxes ought to pay even more. The AMT was one of the worst pieces of legislation that ever hit America BTW. and its not "favored" treatment anymore than FICA is "favored. Short term capital gains are taxed the same as earned income because they have less risk and no issue with inflation. and dividends are taxed twice even if the wealth stealers deny it. the same pot of money is taxed twice by the government and that is UNDENIABLE
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Oh, I am soooo with you there, Turtle. (Re the 47%) Yeah, I don't even understand the AMT. I had to pay it one year and didn't even know why. I think it's a whore's nightmare, so using that label is a mistake on my part. But hopefully you get what I mean....by another name. It would be possible for someone earning $100 million a year to pay absolutely NO Federal income tax, yes? (Tax-free muni's) That's even worse than those people on the low end of the spectrum who pay nothing.

I agree with you re dividends. They are most certainly taxed twice.
 
AdamT said:
Want to bet that he claims NH as his state of residence for tax purposes? No income tax there, though they do have a 5% tax on interest and dividends.
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And yet...when it was revealed that Kerry bought and registered his yacht in RI liberals here were tripping over themselves to excuse his behavior. Hey...it's not illegal! It makes good business sense!!!
 
Your Star said:
And that is ****ed up too. And since when is Kerry a "liberal hero"?
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He is one of those very prominent liberals today. A leader in the senate. And ****ed up indeed...but no the point. The liberal on THIS SITE didn't see fit to call of Kerry...democrat...liberal. Shocking.
 
VanceMack said:
He is one of those very prominent liberals today. A leader in the senate. And ****ed up indeed...but no the point. The liberal on THIS SITE didn't see fit to call of Kerry...democrat...liberal. Shocking.
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Kerry is as much a "liberal hero" as McCain is a "conservative hero." To put it in perspective.
 
VanceMack said:
And yet...when it was revealed that Kerry bought and registered his yacht in RI liberals here were tripping over themselves to excuse his behavior. Hey...it's not illegal! It makes good business sense!!!
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Right, and I would defend Romney, too. He'd be stupid NOT to use NH as his residence for tax purposes. My objection is to the tax laws -- not to people who make the most of them. It is expected that people will do whatever they can to minimize their tax exposure.
 
AdamT said:
Right, and I would defend Romney, too. He'd be stupid NOT to use NH as his residence for tax purposes. My objection is to the tax laws -- not to people who make the most of them. It is expected that people will do whatever they can to minimize their tax exposure.
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Ah...sweet. So we can all take a united stand against the pure partisan hack threads that only seem to surface when it is 'the other guy' and that never seem to surface about 'our guy'. OK then...thats a position I can relate to.
 
StillBallin75 said:
Kerry is as much a "liberal hero" as McCain is a "conservative hero." To put it in perspective.
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You get of course that my comment had NOTHING to do with Kerry and everything to do with the pure partisan mindset that attacks the republican ahnd ignores the democrat. It says nothing about Romeny...or Kerry...and EVERYTHING about the OP.
 
VanceMack said:
Ah...sweet. So we can all take a united stand against the pure partisan hack threads that only seem to surface when it is 'the other guy' and that never seem to surface about 'our guy'. OK then...thats a position I can relate to.
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It has nothing to do with partisan hackery. It's a question of tax policy, pure and simple. Kerry and Romney are both examples of the inequity in the system.
 
AdamT said:
It has nothing to do with partisan hackery. It's a question of tax policy, pure and simple. Kerry and Romney are both examples of the inequity in the system.
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the only inequity is that people like them pay millions and get the same exact benefits from the government as those who pay almost nothing to the federal government or are actually getting net handouts
 
TurtleDude said:
the only inequity is that people like them pay millions and get the same exact benefits from the government as those who pay almost nothing to the federal government or are actually getting net handouts
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Really? The exact same benefits? Are you saying that the average school teacher saved tens of millions of dollars as a result of the TARP program and stimulus funding? Because Romney surely did.
 
AdamT said:
Really? The exact same benefits? Are you saying that the average school teacher saved tens of millions of dollars as a result of the TARP program and stimulus funding? Because Romney surely did.
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that is a moronic comment because most rich people who are taxed heavily had no such benefits. and there are milloins of poor getting massive medical treatments paid for by the tax payers. You cannot prove your claim about Romney and that is not the issue

the fact is millions can vote about tax rates without having any skin in the game

It is pathetic watching people whine that the rich don't pay enough taxes when they are the only group paying far more of the tax burden than their share of the income and half the country pays no income taxes on a federal level.

Your rants are hypocritical and specious
 
TurtleDude said:
that is a moronic comment because most rich people who are taxed heavily had no such benefits. and there are milloins of poor getting massive medical treatments paid for by the tax payers. You cannot prove your claim about Romney and that is not the issue

the fact is millions can vote about tax rates without having any skin in the game

It is pathetic watching people whine that the rich don't pay enough taxes when they are the only group paying far more of the tax burden than their share of the income and half the country pays no income taxes on a federal level.

Your rants are hypocritical and specious
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Don't be ridiculous. Anyone with substantial wealth benefitted disproportionately from the financial bailouts and stimulus spending.
 
AdamT said:
Don't be ridiculous. Anyone with substantial wealth benefitted disproportionately from the financial bailouts and stimulus spending.
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More examples of the government causing income disparity. Those were massive transfers of wealth from the 99% to the 1%. Gee thanks, government creeps.
 
Re: Romney's tax rate is only half as high as the middle class pays

Catawba said:
Investors Back Obama's Buffett Rule

The American Jobs Act


Republicans vote to continue outsourcing jobs overseas ...
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wow, Europeans want Americans to pay more


BFD
In the U.S., support for the idea was lower, with more than half opposing it, although four in 10 supported it. “The U.S. does not have a tax rate problem -- we have a spending and entitlement problem,” said poll respondent Jay Wright, managing director of Samco Capital Markets in San Antonio, Texas. “And if we do not address it quickly we are going to be Greece.”

about half the rich are dems who benefit in terms of power and wealth from having dems in power. its a cost of doing business in order to help the dems win

If you aren't willing or able to pay the same tax dollars as the rich, your standing to demand they pay more is non-existent in terms of credibility. Catawba constantly yaps others should pay more taxes-what does Catawba pay in taxes each year?
 
AdamT said:
Don't be ridiculous. Anyone with substantial wealth benefitted disproportionately from the financial bailouts and stimulus spending.
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You are talking out your butt now and what you ignore is that the rich have been paying disproportionate taxes long before TARP.
 
Re: Romney's tax rate is only half as high as the middle class pays

TurtleDude said:
so tell me, other than slaking the envy of some and buying votes for dems what are tax hikes on the rich supposed to do?
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Increase the revenue, that along with spending cuts is required to reduce the deficit.


Now back the question you keep skirting, where are the jobs that the tax cuts for the "job creators" for the last decade were supposed to create?
 
Re: Romney's tax rate is only half as high as the middle class pays

Catawba said:
Increase the revenue, that along with spending cuts is required to reduce the deficit.


Now back the question you keep skirting, where are the jobs that the tax cuts for the "job creators" for the last decade were supposed to create?
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I couldn't care less if it created jobs. The rich pay too much and that has lead the middle class to demand more and more spending because they think the rich will and should pay for all those government goodies. that is why we have massive deficits

I bet if we gave you truth serum you would be in favor of confiscating all wealth above a certain level "to end the deficit"

I couldnt care less why you want the rich to pay more taxes-its mainly because it benefits your dem masters by enabling them to convince the weakminded that taxing the rich more will pay for more vote buying dem schemes.

TEll me why we should not start with MASSIVE spending cuts before anyone pays anymore taxes
 
Re: Romney's tax rate is only half as high as the middle class pays

Catawba has "dem masters" that he serves?

Please do tell us more. And this time with actual evidence of that relationship and fealty.
 
Re: Romney's tax rate is only half as high as the middle class pays

TurtleDude said:
I couldn't care less if it created jobs.
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Then there is no incentive for voters to continue voting for people that continue the tax cuts for the rich, that is the point you helped me make.
 
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