Fact Check: Is Romney's tax rate really lower than yours?

[Lovebears65]

Fact Check: Is Romney's tax rate really lower than yours? | Fox News

IRS data from 2010 shows someone making between $50,000 and $75,000 on average pays an effective rate of 7.8 percent. Even someone making between $100,000 and $200,000 pays a 12.1 percent rate -- also lower than Romney's.

 

[VaYank5150]

Fact Check: Is Romney's tax rate really lower than yours? | Fox News

IRS data from 2010 shows someone making between $50,000 and $75,000 on average pays an effective rate of 7.8 percent. Even someone making between $100,000 and $200,000 pays a 12.1 percent rate -- also lower than Romney's.

From your link:

While Romney may or may not pay less than the average middle-class earner -- depending on how one defines middle class and how one defines tax rate -- one thing is clear: Romney does pay at a lower rate than the typical wealthy person.

Read more: Fact Check: Is Romney's tax rate really lower than yours? | Fox News

And yes, his tax rate is much lower than mine. He pays less than half my tax rate. Period.

 

[AmyNation]

It's lower then mine, and those tax rates are very low.

Sounds like we need tax reform.

 

[LadyGunSlinger]

It's lower then mine, and those tax rates are very low.

Sounds like we need tax reform.

No shit Sherlock, we need tax reform?? Why don't you voluntarily pay more?!

PS- Worry about your own miserable paycheck and stop coveting other people's money.

 

[AmyNation]

It's lower then mine, and those tax rates are very low.

Sounds like we need tax reform.

No shit Sherlock, we need tax reform?? Why don't you voluntarily pay more?!

PS- Worry about your own miserable paycheck and stop coveting other people's money.

I understand that you are too immature to understand the consequences of having such an outdated, bloated, complicated tax system.

Why don't you stay in your "Obama is baaaad" threads and dont overtax your unused mind.

 

[Charles_Main]

Fact Check: Is Romney's tax rate really lower than yours? | Fox News

IRS data from 2010 shows someone making between $50,000 and $75,000 on average pays an effective rate of 7.8 percent. Even someone making between $100,000 and $200,000 pays a 12.1 percent rate -- also lower than Romney's.

Romney pays the exact same rate any American who invests money and lives on Capital Gains would pay.

I would also note, that just last year, Obama only paid 20%.

 

[Charles_Main]

It's lower then mine, and those tax rates are very low.

Sounds like we need tax reform.

No shit Sherlock, we need tax reform?? Why don't you voluntarily pay more?!

PS- Worry about your own miserable paycheck and stop coveting other people's money.

I understand that you are too immature to understand the consequences of having such an outdated, bloated, complicated tax system.

Why don't you stay in your "Obama is baaaad" threads and dont overtax your unused mind.

People don't Understand Tax Reform. They think it's code for Raising taxes. When Regan Lowered the Top Rates, he actually increased Revenue. How? By Removing Loop holes, and Deductions (reform)

 

[BBCAmerica]

It's lower then mine, and those tax rates are very low.

Sounds like we need tax reform.

No shit Sherlock, we need tax reform?? Why don't you voluntarily pay more?!

PS- Worry about your own miserable paycheck and stop coveting other people's money.

Why shouldn't we worry about people contributing less than they should. Why should I be OK with paying 20% of my lil funky ass check and he only has to pay 14%. Why shouldn't that piss me off? Why should I have to break off more that I can afford when he don't? Why shouldn't it piss me off equally if a guy is paying only 14% as a guy that pays 0%. Why should I be ok with taking up slack for either of them? How did the Republicans con you into fighting for rich people while you pick up their slack?

 

[peach174]

There is a difference between income tax and long term capital gains tax.
Romney paid a higher tax rate at income tax level (at the time he made the income), now he is paying long term capital gains tax.
If you up the long term capital gains tax you do harm for those wanting to do the investing.

 

[Shelzin]

No shit Sherlock, we need tax reform?? Why don't you voluntarily pay more?!

PS- Worry about your own miserable paycheck and stop coveting other people's money.

I understand that you are too immature to understand the consequences of having such an outdated, bloated, complicated tax system.

Why don't you stay in your "Obama is baaaad" threads and dont overtax your unused mind.

People don't Understand Tax Reform. They think it's code for Raising taxes. When Regan Lowered the Top Rates, he actually increased Revenue. How? By Removing Loop holes, and Deductions (reform)

Yeah... You are going after the wrong one on this Lady.

 

[Freemason9]

Hell, somebody had better consider funding this Empire somehow. It costs alot of money, and I can't afford to pay anything more.

Or maybe we should just abandon the whole Empire concept. I'd be fine with that, I don't personally benefit much from it anyway.

 

[Luddly Neddite]

His tax rate is lower than mine but then, I'm not what he considers "middle income".

he considered "middle income" to be "$200,000 to $250,000 and less." (One of the few Romney-backing studies has said that the only way his tax plan adds up is if he eliminates deductions and exemptions above that $100,000 income level).

Romney To Middle Class Ohioans: Don't Expect Too Much Tax Relief From Me

Nor do I get the "massive gain" he got with this slimy Bain deal. This is a loophole he won't be closing! Bet on it.

Mitt Romney 2011 Tax Return Includes Massive Gain From Controversial Bain Deal

 

[martybegan]

It's lower then mine, and those tax rates are very low.

Sounds like we need tax reform.

Is it lower only counting federal income tax, and is it the actual paid rate, not the marginal rate listed in the tables?

 

[BreezeWood]

Romney taxes

... $13.7 million in investment income and paid $1.9 million in federal income taxes or a 14.1% effective rate in 2011

With assets of over 250 Million - income of 13.7 Million - and paid out only 1.9 Million: What possibly could Romney or the other 1% be complaining about ???

 

[auditor0007]

Fact Check: Is Romney's tax rate really lower than yours? | Fox News

IRS data from 2010 shows someone making between $50,000 and $75,000 on average pays an effective rate of 7.8 percent. Even someone making between $100,000 and $200,000 pays a 12.1 percent rate -- also lower than Romney's.

Romney pays the exact same rate any American who invests money and lives on Capital Gains would pay.

I would also note, that just last year, Obama only paid 20%.

The capital gains tax rate is simply too low. When Reagan convinced everyone to bring the top tax rate down to 28%, he also agreed to increase the capital gains rate to 28%, saying that capital gains should be taxed at the same rate as earned income. With this I do not agree, but I do believe the capital gains rate should be closer to 25%. The only time since the beginning of the 20th century that the capital gains tax was actually lower than it is today was in the 1920's, before the Great Depression.

 

[DiamondDave]

Capital gains should be treated like any other income, IMHO

But there is no reason to have any tax rate of 25% for anyone.... government is just too large and spends way too much... the tax base should be all inclusive with no exception and no subjective differing rates, government spending must be cut starting now and continue to be cut in subsequent years (budgets) to eliminate things that are not specifically charged as federal government responsibilities, and a balanced budget amendment must be approached

 

[rightwinger]

Fact Check: Is Romney's tax rate really lower than yours?


Seems about 10% lower than mine

 

[Shelzin]

Fact Check: Is Romney's tax rate really lower than yours? | Fox News

IRS data from 2010 shows someone making between $50,000 and $75,000 on average pays an effective rate of 7.8 percent. Even someone making between $100,000 and $200,000 pays a 12.1 percent rate -- also lower than Romney's.

Romney pays the exact same rate any American who invests money and lives on Capital Gains would pay.

I would also note, that just last year, Obama only paid 20%.

The capital gains tax rate is simply too low. When Reagan convinced everyone to bring the top tax rate down to 28%, he also agreed to increase the capital gains rate to 28%, saying that capital gains should be taxed at the same rate as earned income. With this I do not agree, but I do believe the capital gains rate should be closer to 25%. The only time since the beginning of the 20th century that the capital gains tax was actually lower than it is today was in the 1920's, before the Great Depression.

Agreed.

Well... With a living wage exemption of course. I personally would go with 15% instead of 10%... But that's debateable at least.

 

[Uncensored2008]

Why shouldn't we worry about people contributing less than they should. Why should I be OK with paying 20% of my lil funky ass check and he only has to pay 14%. Why shouldn't that piss me off? Why should I have to break off more that I can afford when he don't? Why shouldn't it piss me off equally if a guy is paying only 14% as a guy that pays 0%. Why should I be ok with taking up slack for either of them? How did the Republicans con you into fighting for rich people while you pick up their slack?

So you want a flat tax, with no deductions, then?

And you're not taking "the slack" up for Romney; he pays more in taxes each year than you earn in a decade.

 

[Uncensored2008]

The capital gains tax rate is simply too low.

Yep. Far too many people are investing. Especially all those greedy people with 401K's who want retirement funds.

We need to SERIOUSLY discourage investment in America, and punish those who invested in retirement plans.

When Reagan convinced everyone to bring the top tax rate down to 28%, he also agreed to increase the capital gains rate to 28%, saying that capital gains should be taxed at the same rate as earned income. With this I do not agree, but I do believe the capital gains rate should be closer to 25%. The only time since the beginning of the 20th century that the capital gains tax was actually lower than it is today was in the 1920's, before the Great Depression.

When people invest in America, America grows, people have jobs, own houses and thrive.

This goes against EVERYTHING Obama and the democrats are for.

Crush investment before it starts - so says Obama, so say we all.