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

[Uncensored2008]

The fact is when we pull all of the money out of our 401K, if we put it in an IRA account, we would only pay income tax on the portion we withdraw each year. This withdrawal will be taxed as ordinary income, but is exempt from any payroll taxes.

You'll only pay income tax on the principle sum, the initial investment. Any appreciation or interest will be taxed as capital gains. You do NOT pay income tax on 401K earnings.

 

[Uncensored2008]

He is one of the brain dead that believe somehow Military don't rate retirement for their service or equates it as a hand out.

Where did I say that?

 

[Uncensored2008]

Meister, can you please tell me how he is investing in America?

Doesn't he have a slew of overseas investments in the Cayman Islands and Bermuda and other offshore investments etc? Is that investing in America? And are you saying his retirement account, is invested in America?

Basically, what is he investing in the USA? What companies is he supporting solely in America?

Is it true that Romney gave more money to charity in 2010 than the top 10 democrats, including billionaires Pelosi, and multimillionaires Obama, Reid, Dodd, et al, combined?

Or does the left only "give back" with other peoples money?

 

[hazlnut]

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?!

Because, dumb lady person, if only one person voluntarily pays more, that won't pay off our big national credit card bill.

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

Well, dumb lady hick, that's what we call a 'straw man'. You're misstating Amy's position so you can attack it. We get it, you're not too bright. It's okay.

No, you can't have sex with this type of straw man. You could try...

 

[Chris]

Romney's actual tax rate was 9%.

He did not take $2 million dollars in deductions.

Romney’s taxes: The GOP candidate’s preposterous explanation for overpaying them. - Slate Magazine

 

[Uncensored2008]

Gee, I wish someone would address the facts and context surrounding the above quote. Let me help. Obama was saying this is the campaign rhetoric being used against HIM. He was NOT saying this was how HE was conducting HIS campaign.

All you can do is regurgitate talking points from the hate sites, shitting bull.

You truly are stupid - which is a common theme in the left.

 

[PLYMCO_PILGRIM]

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.

You obviously didn't look deeper into the link where it transforms those into the effective tax rates (you know after the deductions that we get like the earned income tax credit)

 

[Care4all]

INCOME TAX RATE, not 'TAX RATE'.....it's deceiving to say it's a tax rate, from either side of the aisle....what is being discussed and compared is simply the federal income taxes paid, which are about 25%-30% of the revenues collected to pay for the federal government's bills....

the other 70% comes from OTHER tax revenues collected, which are NOT being discussed.

 

[PLYMCO_PILGRIM]

INCOME TAX RATE, not 'TAX RATE'.....it's deceiving to say it's a tax rate, from either side of the aisle....what is being discussed and compared is simply the federal income taxes paid, which are about 25%-30% of the revenues collected to pay for the federal government's bills....

the other 70% comes from OTHER tax revenues collected, which are NOT being discussed.

Is Romney's effective tax rate higer or lower than the effective tax rate of an average individual making $100,000/year?

 

[Uncensored2008]

Is Romney's effective tax rate higer or lower than the effective tax rate of an average individual making $100,000/year?

It does look higher.

But someone making $100,000 a year is in the top 10% of wage earners and among those Obama vows to punish.

 

[Care4all]

Is Romney's effective tax rate higer or lower than the effective tax rate of an average individual making $100,000/year?

It does look higher.

But someone making $100,000 a year is in the top 10% of wage earners and among those Obama vows to punish.

actually, that's not true, unless he's changed his mind....it was $200k and above if you are single and $250k and above if you are married of net income, so DOUBLE the amount you quoted, and the increase is only on the amount earned OVER those net income thresh holds, of about 4%.. if an individual nets after all deductions 201,000 then with the increased tax rate, they will be paying $40 more in taxes at the end of the year.

 

[PLYMCO_PILGRIM]

Is Romney's effective tax rate higer or lower than the effective tax rate of an average individual making $100,000/year?

It does look higher.

But someone making $100,000 a year is in the top 10% of wage earners and among those Obama vows to punish.

Ok then lets take it down under that to a place that Obama claims to be safe

Is Romney's effective tax rate higher or lower than the effective tax rate of an average individual making $50,000/year?

 

[PLYMCO_PILGRIM]

Is Romney's effective tax rate higer or lower than the effective tax rate of an average individual making $100,000/year?

It does look higher.

But someone making $100,000 a year is in the top 10% of wage earners and among those Obama vows to punish.

actually, that's not true, unless he's changed his mind....it was $200k and above if you are single and $250k and above if you are married of net income, so DOUBLE the amount you quoted, and the increase is only on the amount earned OVER those net income thresh holds, of about 4%.. if an individual nets after all deductions 201,000 then with the increased tax rate, they will be paying $40 more in taxes at the end of the year.

That being said is the effective tax rate for either the average worker earning $100,000 or $50,000 higher or lower than Romney's effective rate?

 

[Uncensored2008]

actually, that's not true, unless he's changed his mind....it was $200k and above if you are single and $250k and above if you are married of net income, so DOUBLE the amount you quoted, and the increase is only on the amount earned OVER those net income thresh holds, of about 4%.. if an individual nets after all deductions 201,000 then with the increased tax rate, they will be paying $40 more in taxes at the end of the year.

Obama has stated that the payroll tax cut will expire this year, hitting anyone over $110,000 hard.

 

[Care4all]

actually, that's not true, unless he's changed his mind....it was $200k and above if you are single and $250k and above if you are married of net income, so DOUBLE the amount you quoted, and the increase is only on the amount earned OVER those net income thresh holds, of about 4%.. if an individual nets after all deductions 201,000 then with the increased tax rate, they will be paying $40 more in taxes at the end of the year.

Obama has stated that the payroll tax cut will expire this year, hitting anyone over $110,000 hard.

those making over 110k PAY NO PAYROLL TAX on the money they earn OVER that amount....

it will hit those earning MORE than 110k A lot LESS than those earning less than the 110k....those earning under 110k a year will lose the tax cut on their entire salary....those earning 220k as example will only lose the tax brake on 50% of their salary....

 

[Meister]

You don’t often see Republican politicians donating money to the federal government. But that’s what Mitt Romney did today. In a statement about Romney’s just-filed 2011 tax return issued by his campaign, Brad Malt, the trustee of Romney’s blind trust, notes that the candidate and his wife paid $1,935,708 in taxes on $13,696,951 in income, for an effective tax rate of 14.1 percent. Malt notes that the Romneys claimed only $2.25 million in charitable deductions, despite having given more than $4 million to charity. By way of explanation, Malt states:


“The Romneys thus limited their deduction of charitable contributions to conform to the Governor's statement in August, based upon the January estimate of income, that he paid at least 13 percent in income taxes in each of the last 10 years.”

Romney’s taxes: The GOP candidate’s preposterous explanation for overpaying them. - Slate Magazine

You stated Romney was going to refile his taxes after the election, which would bring down his tax rate to 9%, Chris.
I asked for a link to back up what you stated. This link you supplied says nothing of what you're asserting. So, with that being said, I have to come to the conclusion that you were lying. Typical coming from you.