Romney 60 Minutes Interview on His 14.1% Tax Rate

[courseofhistory]

Romney in 60 Minutes interview on his 14.1% tax rate...

"Now you made, on your investments, personally, about $20 million last year," Pelley said. "And you paid 14 percent in federal taxes. That's the capital gains rate. Is that fair to the guy who makes $50,000 and paid a higher rate than you did?"

"It is a low rate," Romney said. "And one of the reasons why the capital gains tax rate is lower is because capital has already been taxed once at the corporate level, as high as 35 percent."

When pressed on whether or not he believes that rate is fair, Romney said he thought it was the "right way to encourage economic growth -- to get people to invest, to start businesses, to put people to work."

This is fine but my next question would have been. "Since it spurs investment in your opinion, where have you invested in the last 10 years in the US to create growth and jobs? ......................... Gov. Romney, are you still with us? Empty chair......

 

[blastoff]

Let's see. Anyone who has capital gains is subject to the same tax rate as everyone else with capital gains. That's about as fair as it gets.

Now, to compare apples and oranges as in tax rates for income vs. capital gains is just plain stupid. There are laws regarding both and as long as one abides by them there is no need for discussion whatsoever. Unless of course you're a lefty hoping to deflect from substantive issues in hopes of stirring something up for the dumbbells to get their shorts wedged up their cracks about.

 

[GHook93]

If the media and opposition allowed him to be honest. He would say not only is it fair it beyond fair. First, capital gains is a DOUBLE taxation. The income he invest with was income that was already taxed. Take it to that person that makes $50K. That person get hit with income taxes and then he might invest it, mutual funds, stocks, bonds, IRAs etc. All his investment gets DOUBLE TAXED? Why is that fair. Even 401K get taxed on the backend. Why should the government get a piece of what they already taxed?

Second, capital gains is a barrier from the investor to the investment. Many investments are in business that use the investment to spur growth, which leads to HIRING!!! Capital gains taxes reduces that dynamic.

Third, everyone with a retirement program gets SMACKED with capital gains. 401k, IRAs, Collectivist Pension Plans, Mutual Funds, stocks, bonds, percious metals, annuities, etc. That is a large chunk of the country. That large chunk gets hit with taxes.

I personally believe a double tax of 14-15% is too high and is robbery!

Romney in 60 Minutes interview on his 14.1% tax rate...

"Now you made, on your investments, personally, about $20 million last year," Pelley said. "And you paid 14 percent in federal taxes. That's the capital gains rate. Is that fair to the guy who makes $50,000 and paid a higher rate than you did?"

"It is a low rate," Romney said. "And one of the reasons why the capital gains tax rate is lower is because capital has already been taxed once at the corporate level, as high as 35 percent."

When pressed on whether or not he believes that rate is fair, Romney said he thought it was the "right way to encourage economic growth -- to get people to invest, to start businesses, to put people to work."

This is fine but my next question would have been. "Since it spurs investment in your opinion, where have you invested in the last 10 years in the US to create growth and jobs? ......................... Gov. Romney, are you still with us? Empty chair......

 

[courseofhistory]

Let's see. Anyone who has capital gains is subject to the same tax rate as everyone else with capital gains. That's about as fair as it gets.

Now, to compare apples and oranges as in tax rates for income vs. capital gains is just plain stupid. There are laws regarding both and as long as one abides by them there is no need for discussion whatsoever. Unless of course you're a lefty hoping to deflect from substantive issues in hopes of stirring something up for the dumbbells to get their shorts wedged up their cracks about.

I have no problem with the tax rate or Romney taking advantage of it. But he brought up the subject of investements and job creation/growth and so, I'd like to hear from him where in the US he has created jobs and invested in the last 10 years. Has he put his money where this mouth is?

 

[Remodeling Maidiac]

Let's see. Anyone who has capital gains is subject to the same tax rate as everyone else with capital gains. That's about as fair as it gets.

Now, to compare apples and oranges as in tax rates for income vs. capital gains is just plain stupid. There are laws regarding both and as long as one abides by them there is no need for discussion whatsoever. Unless of course you're a lefty hoping to deflect from substantive issues in hopes of stirring something up for the dumbbells to get their shorts wedged up their cracks about.

I have no problem with the tax rate or Romney taking advantage of it. But he brought up the subject of investements and job creation/growth and so, I'd like to hear from him where in the US he has created jobs and invested in the last 10 years. Has he put his money where this mouth is?

He did that, it's called Bain.