Romney's idiocy

[danarhea]

"Well, the banks aren't bad people. They're just overwhelmed right now." -Mitt Romney

Of course, banks are not bad people. It's becuase banks are NOT people. The sooner we have an amendment that says corporations are not people, the better.

Meanwhile, I am just getting over the flu. I wonder if any of the banks caught it too. 'Ya know, I will believe that banks and corporations are people just as soon as Rick Perry executes one of them. LOL.

NOTE: Is Mitt Romney having an affair with a bank? Will he consummate that relationship soon? :mrgreen:

 

[Ikari]

I don't even see how one could make the claim that corporations are people. We give them certain legal privilege for sake of lawsuit and litigation; but that does not make one a person.

 

[jgarden47]

Romney has been around long enough to know that while having investments sheltered in Swiss bank accounts and the Caymen Islands may all be perfectly legal, they are a political liability.

As a multimillionaire, the fact that he is paying 14% tax on "investment" income while the average American is paying twice that rate for "labor" income only reinforces the preferential treatment that the wealthy receive from government.

Like Cain before him, Romney should have been far better prepared to handle this "problem" before it arose - as a shrewd politician, why didn't he close these offshore accounts and release his income tax forms months ago so that they wouldn't become an issue during the Primaries?

 

[UtahBill]

Romney has been around long enough to know that while having investments sheltered in Swiss bank accounts and the Caymen Islands may all be perfectly legal, they are a political liability.

As a multimillionaire, the fact that he is paying 14% tax on "investment" income while the average American is paying twice that rate for "labor" income only reinforces the preferential treatment that the wealthy receive from government.

Like Cain before him, Romney should have been far better prepared to handle this "problem" when it arose - as a shrewd politician, why didn't he close these offshore accounts and release his income tax forms months ago so that they wouldn't become an issue during the Primaries?

out of touch syndrome.....he is so rich that he hasn't a clue how the average person lives....

 

[AdamT]

out of touch syndrome.....he is so rich that he hasn't a clue how the average person lives....

Bet you $10,000 that isn't true!

 

[johnny_rebson]

Romney has been around long enough to know that while having investments sheltered in Swiss bank accounts and the Caymen Islands may all be perfectly legal, they are a political liability.

As I have said before, the average American will see Romney as an elitist who cannot relate to the middle class.

 

[gregoryyorgie]

I don't even see how one could make the claim that corporations are people. We give them certain legal privilege for sake of lawsuit and litigation; but that does not make one a person.

I think the part that you are overlooking is that he wasn't speaking literally. :mrgreen: The point he was expressing is that corporations consist of people, and, subsequently, things that affect corporations, like higher taxes or more regulation, for example, have real consequences on people and their lives.

I don't think for a million years, in Romney's head, he sees the image of one gigantic person with a Microsoft name-tag on it. lol

I'm also glad to see that he doesn't jump on the bandwagon of demonizing banks and financial institutions. I really hate politicians who cater to the uninformed sentiments of uninformed people.

 

[jgarden47]

Despite the fact that many/most Republicans think that Romney is too liberal, he is really the one and only candidate who can compete with Obama during the 2012 General Election for the millions of moderate swing voters at the political center - whose support decides presidential elections.

Being a multimillionaire, Romney has also had the luxury of getting endorsements and organizing his presidential campaign for years while other candidates were forced to make a living. The fact that he has allowed his tax returns to become such a political liability during the Primaries "boggles the mind."

Although I'm not a Republican, Romney is the one GOP candidate that possesses many of the qualities that could make him a successful president.

Like the GOP candidates who have "self destructed" before him in 2011-2012, the fact that he can't see his 14% tax rate as a "poring salt into the wounds" of those who are paying a higher rate while struggling to survive financially combined with the fact that he has trouble relating to the average America appear to be his "fatal flaw."

 

[Ikari]

I'm also glad to see that he doesn't jump on the bandwagon of demonizing banks and financial institutions. I really hate politicians who cater to the uninformed sentiments of uninformed people.

Yet their actions and the government's deregulation of them led to the collapse. You can't leverage forever on a bubble and not expect to lose your shirt.

 

[ric27]

Despite the fact that many/most Republicans think that Romney is too liberal,

Not think....I KNOW he's too liberal and thats enough for me

 

[poweRob]

"Well, the banks aren't bad people. They're just overwhelmed right now." -Mitt Romney

Of course, banks are not bad people. It's becuase banks are NOT people. The sooner we have an amendment that says corporations are not people, the better.

Meanwhile, I am just getting over the flu. I wonder if any of the banks caught it too. 'Ya know, I will believe that banks and corporations are people just as soon as Rick Perry executes one of them. LOL.

NOTE: Is Mitt Romney having an affair with a bank? Will he consummate that relationship soon? :mrgreen:

He'll consummate the relationship when he takes them on their honeymoon trip to the Cayman Islands.

Here's a story for you Dan:

Sen. Sanders files amendment to end corporate personhood​

 

[Maxwell Howse]

Is he not also advocating that on his entry into the White House, he will take down Cuba?

 

[tessaesque]

My local Chase branch sneezed as I drove by the other day. I hear it's taking Benadryl to cope with seasonal allergies.

 

[UtahBill]

Is he not also advocating that on his entry into the White House, he will take down Cuba?

Cuba is already down, we should stop kicking it...

 

[Calminian]

Romney has been around long enough to know that while having investments sheltered in Swiss bank accounts and the Caymen Islands may all be perfectly legal, they are a political liability.

As a multimillionaire, the fact that he is paying 14% tax on "investment" income while the average American is paying twice that rate for "labor" income only reinforces the preferential treatment that the wealthy receive from government.

Like Cain before him, Romney should have been far better prepared to handle this "problem" before it arose - as a shrewd politician, why didn't he close these offshore accounts and release his income tax forms months ago so that they wouldn't become an issue during the Primaries?

But it's a secondary tax. The first time around it was taxed at 30-35%% or higher, so in reality he's paid about 45-50% on that money. Why he can't explain this for himself is another question.

 

[poweRob]

But it's a secondary tax. The first time around it was taxed at 30-35%% or higher, so in reality he's paid about 45-50% on that money. Why he can't explain this for himself is another question.

If this is money that he made through interest in dividends, then it's new money that hasn't been taxed. They are talking about the money he's made over the year. Not the money he already had.

 

[UtahBill]

But it's a secondary tax. The first time around it was taxed at 30-35%% or higher, so in reality he's paid about 45-50% on that money. Why he can't explain this for himself is another question.

how does HE pay both taxes....As I see it, the business pays the 35%, not the investor....who pays 15% but only on dividends and stock sales....

 

[joko104]

But it's a secondary tax. The first time around it was taxed at 30-35%% or higher, so in reality he's paid about 45-50% on that money. Why he can't explain this for himself is another question.

How do you know he paid 30-35%? He specifically will not release his tax returns and your's is a rather simplistic and inaccurate view of how business taxes work. Merely by spending all profits towards next year's business - thus was not income - a person can limit their taxes to only the money they spent for personal purposes. Thus, by just moving the income - even if tens or hundreds of millions - to the next years expenses the end of the prior year before a person can make tens of millions of dollars in a year but only show a few hundred thousand in income. They can "spend" the money on December 31st and take it back on Jan 1, and there was no reportable income from it.

NOR does that figure in the massive exclusions and special credits, exemptions etc in the tax code for the super rich

NOR does it count the income the USA government cannot see except by search warrant or formal request - a reason people use Swiss and Cayman Islands bank accounts.

Has he given any reason not to use USA banks that report routinely all account activity as required by law to the IRS? No he hasn't.

Since he opted not to release prior tax returns (his right of course), you have absolutely NO CLUE what taxes or effect tax rates he was paying.

 

[ric27]

"Well, the banks aren't bad people. They're just overwhelmed right now." -Mitt Romney

Of course, banks are not bad people. It's becuase banks are NOT people. The sooner we have an amendment that says corporations are not people, the better.

That's such juvenile crap....

I'm going to say this slowly so it's not lost on you... a gaffe is a gaffe, The problem is when said gaffer (in this case Romney) goes on air the next day and DEFENDS the gaffe as fact and that they're correct. That is either stupidity or a horse**** combination of both.

Obama uses a teleprompter and yeah, he has a speech writer and doesn't spend a whole night rehearsing speeches when he can read them well enough, gaffes included.

Please, tell me what President or candidate has time to get a speech down pat without notes. Yeah, no.

 

[poweRob]

That's such juvenile crap....

I'm going to say this slowly so it's not lost on you...

.......................

 

[TurtleDude]

As I have said before, the average American will see Romney as an elitist who cannot relate to the middle class.

anyone suitable to be president ought to be an elite

 

[Calminian]

How do you know he paid 30-35%?

Because that's what the tax rate is for higher income earners. Whatever money he earned to then invest was taxed twice. The rate right now is what, almost 40%? Then if that person wants to invest in a company and yields a profit he has to pay another 15%.

I'm not defending Romney, he's not my first choice. I'm just saying, he should be able to explain that the rate for investment return is different than the rate for income.

 

[Calminian]

If this is money that he made through interest in dividends, then it's new money that hasn't been taxed. They are talking about the money he's made over the year. Not the money he already had.

But that's the point, the money he already had he wasn't born with. He earned that money, and therefore he had to pay taxes on it.

Money made from investments is taxed and a different rate as it should be. Otherwise, we won't have people taking risks and investing.

Look, I can't stand Romney. I think he's a self righteous twit. But trust me, we don't want to start discouraging people from investing.

 

[poweRob]

But that's the point, the money he already had he wasn't born with. He earned that money, and therefore he had to pay taxes on it.

Money made from investments is taxed and a different rate as it should be. Otherwise, we won't have people taking risks and investing.

I don't think they are taxing that money. They are taxing the interest earned. The interest is new money not previously taxed money. That he used old money to make that money rather than his back is irrelevant.

Look, I can't stand Romney. I think he's a self righteous twit. But trust me, we don't want to start discouraging people from investing.

I don't think there will ever be a discouragement to becoming rich.

 

[Calminian]

I don't think they are taxing that money. They are taxing the interest earned. The interest is new money not previously taxed money. That he used old money to make that money rather than his back is irrelevant.

right but the money that was invested in the first place that Romney earned was taxed at a very high rate. If they're going to hit these guys again, with another 40% tax, then they'll likely just sit on it and not invest.

I don't think there will ever be a discouragement to becoming rich.

He was already rich before investing. But a low tax on investment returns gives them incentive to invest in little startups and other investments. If you've ever wanted to start up a business and need investors, trust me you don't want the taxes to go up on your investors. That will mean they'll be forced to take a bigger cut from you.

People need to realize, when the rich pay more, they charge more for their products and services. We actually end up paying their taxes.