Fewer Tax Deductions for the Wealthy, No Tax Hikes on Middle Class

[NYcarbineer]

So Romney is now repudiating 'trickle-down'?

He's claiming he's NOT going to cut taxes for the wealthy (his vaunted job-creators) but will cut taxes for the middle class?

...and that will stimulate growth????

 

[NYcarbineer]

And he's now 'maintaining progressivity'?

So his lurch to the left includes telling all you flat taxers to go fuck yourselves with your flattax idiocy...

lolol.

 

[PLYMCO_PILGRIM]

And he's now 'maintaining progressivity'?

So his lurch to the left includes telling all you flat taxers to go fuck yourselves with your flattax idiocy...

lolol.

Not really but I like the way you spun it, I couldn't have done much better if I tried


I'm a beleiver in a flat tax structure. I think you've read me type that I want the same percentage charged to everyone who makes between $0.01 and all the way to the top with the ONLY exemption being your first $30,000 or less in income. That exemption applies to everyone.

That being said Romeny didn't do what you claim to me at all. What he did was say "Look I have a different plan than yours and the president's. My plan is to raise revenue not by raising the tax rates but eliminating the tax deductions you can only get by being super rich"

To me that says "I wont raise your taxes like Obama did with obamacare, I won't threaten to raise them by eliminating the bush era tax rates, and I will help bring in revenue by making sure rich people can't just skirt taxes by say harboring their boat in rhode island instead of Mass (hi john kerry)"

 

[Seawytch]

Willard claims that he'll close loopholes. Has he mentioned which ones yet? Yeah, didn't think so.

 

[edthecynic]

My 401k is funded with capital gains....................are you just leaping before you look here out of partisanship?

The majority of poor, working class, middle class either don't, or have little amounts of investments that would be largely impacted with capital gains, but the rich sure do.

It's like trying to sell the W tax cuts all over again when they pitch a few tiny scraps to the middle class, where the rich go on a full blown 5 star feast, and the economy will tank even further.

dumb ass...


Middle Class Benefits Most from Capital Gains Tax Cut | Media Trackers

73% of those who report the sale of capital investments make less than $100,000 per year
In Wisconsin...

Those who made $50,000 or less annually accounted for 57% of those reporting the sale of capital investments.

Last time I checked math, 57% was larger than 43%... meaning, a majority.

A perfect example of the complete stupidity of CON$ervoFascists. How stupid and gullible do you have to be to think that just because a lot of people have a very tiny amount of capital assets they benefit MOST from a capital gains tax cut, SIMPLY BECAUSE THEY ARE A PLURALITY, when a very few own massive amounts of capital assets. The top 1% alone have almost 5 times the capital income of the bottom 80% combined. The Right habitually prove they are too stupid to know they are being bullshitted by their CON$ervoFascist sources.

Table 7: Share of capital income flowing to households in various income categories
Top 1% Top 5% Top 10% Bottom 80%
1979 37.8% 57.9% 66.7% 23.1%
1981 35.8% 55.4% 64.6% 24.4%
1983 37.6% 55.2% 63.7% 25.1%
1985 39.7% 56.9% 64.9% 24.9%
1987 36.7% 55.3% 64.0% 25.6%
1989 39.1% 57.4% 66.0% 23.5%
1991 38.3% 56.2% 64.7% 23.9%
1993 42.2% 60.5% 69.2% 20.7%
1995 43.2% 61.5% 70.1% 19.6%
1997 45.7% 64.1% 72.6% 17.5%
1999 47.8% 65.7% 73.8% 17.0%
2001 51.8% 67.8% 74.8% 16.0%
2003 57.5% 73.2% 79.4% 12.6%
Adapted from Shapiro & Friedman (2006).

 

[edthecynic]

And he's now 'maintaining progressivity'?

So his lurch to the left includes telling all you flat taxers to go fuck yourselves with your flattax idiocy...

lolol.

Not really but I like the way you spun it, I couldn't have done much better if I tried


I'm a beleiver in a flat tax structure. I think you've read me type that I want the same percentage charged to everyone who makes between $0.01 and all the way to the top with the ONLY exemption being your first $30,000 or less in income. That exemption applies to everyone.

That being said Romeny didn't do what you claim to me at all. What he did was say "Look I have a different plan than yours and the president's. My plan is to raise revenue not by raising the tax rates but eliminating the tax deductions you can only get by being super rich"

To me that says "I wont raise your taxes like Obama did with obamacare, I won't threaten to raise them by eliminating the bush era tax rates, and I will help bring in revenue by making sure rich people can't just skirt taxes by say harboring their boat in rhode island instead of Mass (hi john kerry)"

The problem with that load of BS is studies have shown that even if you eliminate EVERY conceivable loophole and deduction the wealthy enjoy it would not offset Willard's 20% tax cut on the top rate. So either his tax cuts will not be revenue neutral or the middle class will pay more, which Willard and Lyin' Ryan actually reveal will happen when they use the code words "broaden the base" of tax payers.

"Broaden the base" means that poor wage earners whose deductions bring their taxable income to zero will be paying taxes, increasing/broadening the number of tax payers. If you pay attention to the slick Willard's words, he never said he wasn't going to raise taxes on the poor, only the middle class.

 

[PLYMCO_PILGRIM]

And he's now 'maintaining progressivity'?

So his lurch to the left includes telling all you flat taxers to go fuck yourselves with your flattax idiocy...

lolol.

Not really but I like the way you spun it, I couldn't have done much better if I tried


I'm a beleiver in a flat tax structure. I think you've read me type that I want the same percentage charged to everyone who makes between $0.01 and all the way to the top with the ONLY exemption being your first $30,000 or less in income. That exemption applies to everyone.

That being said Romeny didn't do what you claim to me at all. What he did was say "Look I have a different plan than yours and the president's. My plan is to raise revenue not by raising the tax rates but eliminating the tax deductions you can only get by being super rich"

To me that says "I wont raise your taxes like Obama did with obamacare, I won't threaten to raise them by eliminating the bush era tax rates, and I will help bring in revenue by making sure rich people can't just skirt taxes by say harboring their boat in rhode island instead of Mass (hi john kerry)"

The problem with that load of BS is studies have shown that even if you eliminate EVERY conceivable loophole and deduction the wealthy enjoy it would not offset Willard's 20% tax cut on the top rate. So either his tax cuts will not be revenue neutral or the middle class will pay more, which Willard and Lyin' Ryan actually reveal will happen when they use the code words "broaden the base" of tax payers.

"Broaden the base" means that poor wage earners whose deductions bring their taxable income to zero will be paying taxes, increasing/broadening the number of tax payers. If you pay attention to the slick Willard's words, he never said he wasn't going to raise taxes on the poor, only the middle class.

Go back and read the first post or Romeny's own website. Romney wasn't going to cut the rich's taxes or raise them but leave the taxe rates alone for everyone...then eliminate deductions/exemptions mainly enjoyed by "the rich"

 

[Lakhota]

 

[Conservative]

"I do want to bring taxes down for middle income people," he said. "In particular, I want middle income Americans not to have to pay taxes on interest and dividends and capital gains."

LMAO!! What a fucking idiot. He wants to eliminate taxes on capital gains to "bring down taxes on the middle class"?

it's been repeatedly shown on this board that the middle class benefits the most form capital gains tax cut, dumb ass.

Middle Class Benefits Most from Capital Gains Tax Cut | Media Trackers

Before you whine about the link, look at the sources of information, dumb ass.

 

[Conservative]

The majority of poor, working class, and middle class either don't, or have little amounts of investments that would be largely impacted with capital gains, but the rich sure do.

It's like trying to sell the W tax cuts all over again when they pitch a few tiny scraps to the middle class, but the rich go on a full blown 5 star pork barreled feast, and the economy will tank even further.

True I might have like 20k in there so I'm not saving a whole hell of a lot with a cap gains cut. But didn't he say he was going to eliminate the loopholes for the rich with this stuff too?

Willard claims he's going to eliminate loopholes, but we all know that's total BS. Obama has tried to pass legislation to do so and the GOP shot it down.
Hell even fox was going after one of Willard's spokespeople about what loopholes he would close, and he couldn't give him an answer.

link to the bill Obama supported that closes tax loopholes, and the vote that shows the GOP voted against it... dumb ass.

You constantly state things as fact, then NEVER back them up with proof.

Links, or you're just lying again.

 

[edthecynic]

Not really but I like the way you spun it, I couldn't have done much better if I tried


I'm a beleiver in a flat tax structure. I think you've read me type that I want the same percentage charged to everyone who makes between $0.01 and all the way to the top with the ONLY exemption being your first $30,000 or less in income. That exemption applies to everyone.

That being said Romeny didn't do what you claim to me at all. What he did was say "Look I have a different plan than yours and the president's. My plan is to raise revenue not by raising the tax rates but eliminating the tax deductions you can only get by being super rich"

To me that says "I wont raise your taxes like Obama did with obamacare, I won't threaten to raise them by eliminating the bush era tax rates, and I will help bring in revenue by making sure rich people can't just skirt taxes by say harboring their boat in rhode island instead of Mass (hi john kerry)"

The problem with that load of BS is studies have shown that even if you eliminate EVERY conceivable loophole and deduction the wealthy enjoy it would not offset Willard's 20% tax cut on the top rate. So either his tax cuts will not be revenue neutral or the middle class will pay more, which Willard and Lyin' Ryan actually reveal will happen when they use the code words "broaden the base" of tax payers.

"Broaden the base" means that poor wage earners whose deductions bring their taxable income to zero will be paying taxes, increasing/broadening the number of tax payers. If you pay attention to the slick Willard's words, he never said he wasn't going to raise taxes on the poor, only the middle class.

Go back and read the first post or Romeny's own website. Romney wasn't going to cut the rich's taxes or raise them but leave the taxe rates alone for everyone...then eliminate deductions/exemptions mainly enjoyed by "the rich"

Maybe you should take your own advice!!!! An "across-the-board" 20% tax cut INCLUDES the top marginal rate!!!

Tax | Mitt Romney for President

Make permanent, across-the-board 20 percent cut in marginal rates

 

[edthecynic]

The majority of poor, working class, middle class either don't, or have little amounts of investments that would be largely impacted with capital gains, but the rich sure do.

It's like trying to sell the W tax cuts all over again when they pitch a few tiny scraps to the middle class, where the rich go on a full blown 5 star feast, and the economy will tank even further.

dumb ass...


Middle Class Benefits Most from Capital Gains Tax Cut | Media Trackers

Those who made $50,000 or less annually accounted for 57% of those reporting the sale of capital investments.

Last time I checked math, 57% was larger than 43%... meaning, a majority.

A perfect example of the complete stupidity of CON$ervoFascists. How stupid and gullible do you have to be to think that just because a lot of people have a very tiny amount of capital assets they benefit MOST from a capital gains tax cut, SIMPLY BECAUSE THEY ARE A PLURALITY, when a very few own massive amounts of capital assets. The top 1% alone have almost 5 times the capital income of the bottom 80% combined. The Right habitually prove they are too stupid to know they are being bullshitted by their CON$ervoFascist sources.

Table 7: Share of capital income flowing to households in various income categories
Top 1% Top 5% Top 10% Bottom 80%
1979 37.8% 57.9% 66.7% 23.1%
1981 35.8% 55.4% 64.6% 24.4%
1983 37.6% 55.2% 63.7% 25.1%
1985 39.7% 56.9% 64.9% 24.9%
1987 36.7% 55.3% 64.0% 25.6%
1989 39.1% 57.4% 66.0% 23.5%
1991 38.3% 56.2% 64.7% 23.9%
1993 42.2% 60.5% 69.2% 20.7%
1995 43.2% 61.5% 70.1% 19.6%
1997 45.7% 64.1% 72.6% 17.5%
1999 47.8% 65.7% 73.8% 17.0%
2001 51.8% 67.8% 74.8% 16.0%
2003 57.5% 73.2% 79.4% 12.6%
Adapted from Shapiro & Friedman (2006).

"I do want to bring taxes down for middle income people," he said. "In particular, I want middle income Americans not to have to pay taxes on interest and dividends and capital gains."

LMAO!! What a fucking idiot. He wants to eliminate taxes on capital gains to "bring down taxes on the middle class"?

it's been repeatedly shown on this board that the middle class benefits the most form capital gains tax cut, dumb ass.

Middle Class Benefits Most from Capital Gains Tax Cut | Media Trackers

Before you whine about the link, look at the sources of information, dumb ass.

That bullshit has already been debunked in this very thread. Repeating your stupid bullshit does not make it any less stupid.

 

[papagallo73]

"I do want to bring taxes down for middle income people," he said. "In particular, I want middle income Americans not to have to pay taxes on interest and dividends and capital gains."

LMAO!! What a fucking idiot. He wants to eliminate taxes on capital gains to "bring down taxes on the middle class"?

My 401k is funded with capital gains....................are you just leaping before you look here out of partisanship?

Yes, the libtard is definitely leaping before looking.

 

[initforme]

"it's been repeatedly shown on this board that the middle class benefits the most form capital gains tax."

This is a lie no doubt. If Mitt would simply say "the middle class is not going to have to sacrifice one bit monetarily" he could win the election. Why not just do that?

 

[PLYMCO_PILGRIM]

You should put bush's picture in the middle so that seems less stupid

I mean c'mon

 

[PLYMCO_PILGRIM]

True I might have like 20k in there so I'm not saving a whole hell of a lot with a cap gains cut. But didn't he say he was going to eliminate the loopholes for the rich with this stuff too?

Willard claims he's going to eliminate loopholes, but we all know that's total BS. Obama has tried to pass legislation to do so and the GOP shot it down.
Hell even fox was going after one of Willard's spokespeople about what loopholes he would close, and he couldn't give him an answer.

link to the bill Obama supported that closes tax loopholes, and the vote that shows the GOP voted against it... dumb ass.

You constantly state things as fact, then NEVER back them up with proof.

Links, or you're just lying again.

I second the request for a link to this item that was shot down so I can verify it on my own

 

[PLYMCO_PILGRIM]

The problem with that load of BS is studies have shown that even if you eliminate EVERY conceivable loophole and deduction the wealthy enjoy it would not offset Willard's 20% tax cut on the top rate. So either his tax cuts will not be revenue neutral or the middle class will pay more, which Willard and Lyin' Ryan actually reveal will happen when they use the code words "broaden the base" of tax payers.

"Broaden the base" means that poor wage earners whose deductions bring their taxable income to zero will be paying taxes, increasing/broadening the number of tax payers. If you pay attention to the slick Willard's words, he never said he wasn't going to raise taxes on the poor, only the middle class.

Go back and read the first post or Romeny's own website. Romney wasn't going to cut the rich's taxes or raise them but leave the taxe rates alone for everyone...then eliminate deductions/exemptions mainly enjoyed by "the rich"

Maybe you should take your own advice!!!! An "across-the-board" 20% tax cut INCLUDES the top marginal rate!!!

Tax | Mitt Romney for President

Make permanent, across-the-board 20 percent cut in marginal rates

You are right and I assumed wrong. I was under the assumption that since he was publicly stating his plan did as I described that he would have put it the same way on his website. Now I have to re-watch the video of him saying what I thought he was going to do.

 

[kiwiman127]

[QUOTE=beretta304;5961131]Romney: Fewer Tax Deductions for the Wealthy, No Tax Hikes on Middle Class
By Susan Jones
September 10, 2012

(CNSNews.com) - "We're not going to have high income people pay less of the tax burden than they pay today. That's not what's going to happen," Republican presidential nominee Mitt Romney told NBC's "Meet the Press" on Sunday.


"I do want to bring taxes down for middle income people," he said. "In particular, I want middle income Americans not to have to pay taxes on interest and dividends and capital gains.
=============================================================================

Let's get one thing right. Mitt thinks middle income people make between $200,000 and $250,000 ("or less?). But in fact, the middle class is the group in the middle percentiles of the top 20% and the lower 20%. Also the median income for a family in the US is a bit over $50,000 a year.
So Mitt isn't talking about the middle class, he is talking about what he thinks is the middle income, which is way off what "thinks" they annually bring home..