Mitt Romney pays a lower tax rate than you do.

[Too Tall]

Romney paid 15 percent.

Obama on his 2010 tax returns paid around 25 percent.

Basic tax rate for MOST Americans is around 28 percent.

Still think Romney is a good idea?

According CNN this morning, 3 out of 4 people pay 15% or less in federal income tax.

And, MOST Americans don't pay 28%. Damned nearly half of the American population pay ZERO percent in taxes.

 

[Katzndogz]

Romney did quite well in Steel Dynamics! The company turned around and started making a profit. Four years after Bain left, the company was sold. Two years after that, the owners moved it to anothr state.

Not Romney's fault. He did everything he was supposed to do.

 

[Too Tall]

Ask yourself this:

What percent of capital gains income in the United States applies to rich people, and what percent applies to everyone else?

If raising the Cap Gains rate negatively affects older people, then an exception can be made on retirement income.

The lefties want to end the Bush tax cuts to the rich....I get it already...
The lefties want a higher tax rate on top of that....?
The lefties want to raise the rate on Capital Gains?...Do I have that right?

And what do the Libs want to do with all this extra revenue?....

You guys know where I am most of the time....
I really want an answer on this.
You guys have been screaming like little school girls that you want the rich to pay their fair share....

Where does this extra revenue go?

To pay down the national debt.

I would think eliminating the deficit would come first. Obama wants another $1.2 TRILLION to add to the debt this year. And, the Congress will give it to him.

 

[ABikerSailor]

Romney paid 15 percent.

Obama on his 2010 tax returns paid around 25 percent.

Basic tax rate for MOST Americans is around 28 percent.

Still think Romney is a good idea?

According CNN this morning, 3 out of 4 people pay 15% or less in federal income tax.

And, MOST Americans don't pay 28%. Damned nearly half of the American population pay ZERO percent in taxes.

For the 20 years that I was in the military, federal taxes were withheld at the rate of 28 percent, and if your state charged military paychecks (there are a few that don't), you paid an extra 4 percent in state taxes. How do I know this? I was a PN.

Additionally, all Obama has to do to really screw Romney up in the election is point out the fact that Obama has been paying in at around 25 percent while Romney is a full 10 percent below that at 15.

Based on that little tidbit, who is more like most Americans in taxes? I'll give you a hint, it's not Romney.

 

[Skull Pilot]

Romney paid 15 percent.

Obama on his 2010 tax returns paid around 25 percent.

Basic tax rate for MOST Americans is around 28 percent.

Still think Romney is a good idea?

According CNN this morning, 3 out of 4 people pay 15% or less in federal income tax.

And, MOST Americans don't pay 28%. Damned nearly half of the American population pay ZERO percent in taxes.

How these tax rates are deceiving is that income tax rates are marginal so someone in the 25% bracket does NOT pay 25% of his total income where capital gains are not marginal and the entire gain is taxed at the same rate.

 

[The T]

The lefties want to end the Bush tax cuts to the rich....I get it already...
The lefties want a higher tax rate on top of that....?
The lefties want to raise the rate on Capital Gains?...Do I have that right?

And what do the Libs want to do with all this extra revenue?....

You guys know where I am most of the time....
I really want an answer on this.
You guys have been screaming like little school girls that you want the rich to pay their fair share....

Where does this extra revenue go?

To pay down the national debt.

I would think eliminating the deficit would come first. Obama wants another $1.2 TRILLION to add to the debt this year. And, the Congress will give it to him.

And they should if he agrees to the same amount of cuts in the budget.

The Republicans need to grow a spine and demand it.

 

[Vast LWC]

And so what if it's investment partners were paid first? The company itself still went belly-up, with Bain and their partners taking a big chunk of the cash before bankruptcy, in all probability with funds that were leveraged against the company.

That's what debt covenants are for. This is a wild accusation. Are you saying they didn't follow the debt covenants? Are you saying the debt holders were incompetent and hadn't protected themselves? Debt holders are pretty sophisticated, you can't just come in and take the cash. Be more specific what you're accusing them of rather then just saying things that sound bad but don't have any specific meaning.

I don't know about you, but I've been talking about Mitt Romney and Bain Capital this entire time. My comment about Romney being a prime example of what's wrong with American corporations today was in fact the catalyst for this entire discussion.

But if you want to split hairs in an area where the lines are blurred quite often, then fine, we'll use your terminology.

What do you call it when a company gets bought out by a "Venture Capitalist/Private Equity" firm, and then said firm:

1. has the company out loans to help in restructuring,
2. fails to make the asset profitable,
3. gives itself and it's co-investors a large chuck of cash,
and
4. then has the company it purchased declare bankruptcy?

Cause as far as I can see, that's what Bain did, in many cases.

 

[Vast LWC]

How these tax rates are deceiving is that income tax rates are marginal so someone in the 25% bracket does NOT pay 25% of his total income where capital gains are not marginal and the entire gain is taxed at the same rate.

While the average person pays 6% of their income in Payroll taxes...

Someone like Romney pays maybe .06% of his income in Payroll taxes.

And since Social Security funding has been being used to pay for other things, this counts the same as income tax.

 

[Vast LWC]

That's what debt covenants are for. This is a wild accusation. Are you saying they didn't follow the debt covenants? Are you saying the debt holders were incompetent and hadn't protected themselves? Debt holders are pretty sophisticated, you can't just come in and take the cash. Be more specific what you're accusing them of rather then just saying things that sound bad but don't have any specific meaning.

And I didn't make that accusation, the WSJ stated it in their article:

The tougher questions for Mr. Romney involve the cases in which Bain took early payouts in dividends and management fees after purchasing existing businesses that ultimately went bankrupt.

 

[Skull Pilot]

How these tax rates are deceiving is that income tax rates are marginal so someone in the 25% bracket does NOT pay 25% of his total income where capital gains are not marginal and the entire gain is taxed at the same rate.

While the average person pays 6% of their income in Payroll taxes...

And people who live off investments will never get social security so why the hell should they pay in?

And since Social Security funding has been being used to pay for other things, this counts the same as income tax.

By definition and the law no it does not.

 

[The T]

How these tax rates are deceiving is that income tax rates are marginal so someone in the 25% bracket does NOT pay 25% of his total income where capital gains are not marginal and the entire gain is taxed at the same rate.

While the average person pays 6% of their income in Payroll taxes...

And people who live off investments will never get social security so why the hell should they pay in?

And since Social Security funding has been being used to pay for other things, this counts the same as income tax.

By definition and the law no it does not.

Albiet since the SS money is placed in the General Fund? It is replete with a plethora of I.O.U's

 

[Full-Auto]

Your complete BS aside his money comes from investments. Oh and speaking fees.

Bullshit. He made a large chunk of his fortune at Bain Capital, a venture capital firm. Money that he then used for investments.

Bain buys companies, breaks them up, borrows money against them, send their jobs overseas, and then sells them after they've sucked them dry.

They're like the mafia of corporations.

Here's the Wiki on them, but of course you'll have to wait until tomorrow to see it.

Bain Capital

You can yell BS until the cows come home

His income comes from investments.

When you can disprove that. Then pipe up parrot.

 

[Intense]

True Story.

Romney Says His Effective Tax Rate Is ‘Probably’ 15%

No he doesn't. We all pay the same rate on investment income.

 

[AquaAthena]

General Electric Paid No Federal Taxes in 2010 - ABC News


The top tax bracket for U.S. corporations stands at 35 percent, one of the highest rates in the world. So how is it possible that a giant of American business, General Electric, paid nothing in federal taxes last year, even as it made billions in profit?

And should the CEO of GE, Jeffrey Immelt, be advising the president on business?

2010 was the second year in a row that GE recorded billions in profits and paid no taxes.

During that same period, Immelt has been a close advisor to the president on the business community, a relationship that rubs some the wrong way. Immelt serves as the chairman of Obama's Council on Jobs and Competitiveness.

 

[Full-Auto]

General Electric Paid No Federal Taxes in 2010 - ABC News


The top tax bracket for U.S. corporations stands at 35 percent, one of the highest rates in the world. So how is it possible that a giant of American business, General Electric, paid nothing in federal taxes last year, even as it made billions in profit?

And should the CEO of GE, Jeffrey Immelt, be advising the president on business?

2010 was the second year in a row that GE recorded billions in profits and paid no taxes.

During that same period, Immelt has been a close advisor to the president on the business community, a relationship that rubs some the wrong way. Immelt serves as the chairman of Obama's Council on Jobs and Competitiveness.

No crony shall be overlooked with our tax dollars.

 

[Intense]

General Electric Paid No Federal Taxes in 2010 - ABC News


The top tax bracket for U.S. corporations stands at 35 percent, one of the highest rates in the world. So how is it possible that a giant of American business, General Electric, paid nothing in federal taxes last year, even as it made billions in profit?

And should the CEO of GE, Jeffrey Immelt, be advising the president on business?

2010 was the second year in a row that GE recorded billions in profits and paid no taxes.

During that same period, Immelt has been a close advisor to the president on the business community, a relationship that rubs some the wrong way. Immelt serves as the chairman of Obama's Council on Jobs and Competitiveness.

Whirlpool too. Some of it is subsidies and Credits. All Bullshit. We need a New Tax Code.

 

[Cowman]

Fine. Make it fair on everyone.

Rich and poor alike pay 10%, no exemptions, subsidies, penalties or modifications to this percentage and throw in capital gains as income.

Done. The rich pay more, the poor don't profit from 'paying'. The budget shrinks as spending in transfer payments is eliminated. Win/win all the way around.

You game?

America is in part as powerful as it is today because of the "unfairness" of the rich paying more in taxes. How else do you think we have such a big army and other programs? If you shrank the amount of income coming in from the rich, you wouldn't have such a powerful america to get your dick rock hard.

 

[rightwinger]

True Story.

Romney Says His Effective Tax Rate Is ‘Probably’ 15%

No he doesn't. We all pay the same rate on investment income.

No problem with that. Mitt is not cheating he is legally allowed to pay 15%

He can justify it to the voters as fair and that it is better for America for him to pay less on the money he makes than what someone who works for a living makes.

Voters are understanding people

 

[Rozman]

Voters can be smart about things if the information is presented in a factual way and not slanted to look like Romney did something wrong or worse illegal.

Well that leaves out that whole MSNBC crowd.
Hell Al Sharpton can't even get Mitt's name right.
He keeps calling him Williard or some shit.
I think he's talking about Romney.

 

[Intense]

True Story.

Romney Says His Effective Tax Rate Is ‘Probably’ 15%

No he doesn't. We all pay the same rate on investment income.

No problem with that. Mitt is not cheating he is legally allowed to pay 15%

He can justify it to the voters as fair and that it is better for America for him to pay less on the money he makes than what someone who works for a living makes.

Voters are understanding people

Good one. It would be nice to redo our tax code though. Too many games. Simple is good.