Is Mitt Romney's tax rate "really" lower than yours? FACT CHECK

Discussion in 'Politics' started by oreo, Sep 25, 2012.

  1. oreo
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    oreo Gold Member Supporting Member

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

    So basically the article is saying is that Romney pays more of an "effective tax rate" than most Americans--and Obama had to add in payroll taxes to the equation--to make it look like Romney is paying much less than the average American. As we know investment income is not subject to payroll (social security/medicare taxes.)

    Interesting


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    Last edited: Sep 25, 2012
  2. auditor0007
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    auditor0007 Gold Member

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    You have to account for payroll taxes also. Romney pays less than 3% in payroll taxes, if he pays any at all. Working Americans pay 15.3% if they earn under the SS cap of $106,800. Medicare taxes have no cap. And please don't try selling us on the idea that the employer pays half of those taxes. As an employer, I consider payroll taxes as a part of wages because they are due on the employee's earnings. If I didn't have to pay them, I would increase my employee's wages.
     
  3. rdean
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    rdean rddean

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  4. mamooth
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    mamooth Gold Member Supporting Member

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    I paid over 30% in taxes. It is delusional to claim that I and people like me paid around 7.8%.
     
  5. OKTexas
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    OKTexas New Life Member of the NRA 12/15 Supporting Member

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    Are you telling me Maobama lied to me on the View today? He wouldn't do that, would he?

    And then we have those folks that insist on comparing apples to oranges, we're only talking federal income tax, without payroll tax. Mitt didn't have any payroll earnings.
     
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  6. oreo
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    oreo Gold Member Supporting Member

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    No it's not FAIR to add in payroll taxes. If you do you're talking about millions of Americans in this country who invest in 401K's for their retirement's--college educations--and millions of others who are seniors that would be required to pay payroll taxes on their dividend checks. These people--as Mitt Romney did--paid payroll taxes on their earned income to do so again would be called double taxation which is against US tax code.

    Obama just threw in the earned income payroll tax--which is extremely misleading--in comparison to someone who earns most of their income through investments.
     
    Last edited: Sep 25, 2012
  7. blackhawk
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    blackhawk Gold Member

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    You did and we know this is true how? I get a kick out of it when people claim this or that about themselves on here knowing full well it can't be confirmed or denied.
     
  8. Polk
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    Polk Classic

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    Except that a large chunk of Romney's "investment" income isn't from investments at all.
     
  9. Lakhota
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    Lakhota Diamond Member

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    More Fox News bullshit. They have proven over and over again that they are challenged by math.

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  10. Lakhota
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    Lakhota Diamond Member

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    "Fact Checking" by Fox News? I believe that's called an oxymoron. Holy shit, that's sooo funny...
     

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