Romney Pay's 13.9% Effective Tax Rate

[Zander]

This thread is so full of fail....

Romney pays a higher percentage income tax than 97% of taxpayers.

Media Myth Debunked: 97 Percent of Americans Pay Less Tax Than Romney's 15 Percent | NewsBusters.org

If you add up all the percentages in the third column ending with "100,000 under $200,000," you get 97 percent.

That means as a function of AGI - which is typically how folks look at taxes - if Romney pays 15 percent as he stated, he's paying a higher rate than 97 percent of his fellow citizens.

 

[Seawytch]

Hey, Comrade, if there were an actual market for Progressive/Marxist talk, there'd actually be Progressive/Marxist talk. It really is that simple.

Hey fascist, Bain owns Clear Channel. There IS a Market, but it doesn't serve these Republican owned stations to present an alternative voice on the radio so they don't. It has nothing to do with the market.

please

if clear channel could make money playing tapes of mao from 1955, they'd do it.

money has no ideology.

you might want to write that on your hand.

Then explain why they would replace progressive talk in FL with yet another sports talk channel that now has an unrecognizable ranking where they were one one of the top stations there. Explain how you would replace one of the top ranked shows (Stephanie Miller) in San Francisco with Glen Beck for the morning commute. Explain how, if there is no market, that the same Stephanie Miller Show is selling out venues all over the country, even in areas where there is no longer a radio station that airs the show. Explain, if there is no market, how the album from the show could have been the top selling comedy album on Amazon and iTunes as well as debuting on Billboards Hot 100.

 

[NYcarbineer]

So Romney makes most of his money off investment?

I thought the conservative talking point was that tax rates had to be lower than they are now to get people to invest...

 

[DiamondDave]

What a sad existence you must lead if you are that jealous of the poor. A true shame.

jealous?? Nope.... tired of the hypocritical call for 'equality' only when it benefits you... and the disguising of unequal treatment of others and calling it equal, when it benefits you... all in the name of subjective 'fairness'

But it doesn't benefit me, no more than it benefits you. So thats another ridiculous argument of yours that is shot down, collapsing everything you believe in.

Like I said, your jealousy of the poor is quite sad.

Nothing is collapsed... does it benefit you more than it benefits a CEO? Yep... more than someone earning a cool 1/4 mil? Yep

Again... you only call for equality when it benefits you and/or your cause to vilify the 'evil rich'...

You simply support a system that is inherently based on unequal treatment, by definition... yet scream when you believe some other group is being treated unequally when it is a cause you support...

Yet I am the one that calls for equality all around.. and the positives and negatives that come with it...

You're a fucking loon

 

[SFC Ollie]

Hey fascist, Bain owns Clear Channel. There IS a Market, but it doesn't serve these Republican owned stations to present an alternative voice on the radio so they don't. It has nothing to do with the market.

please

if clear channel could make money playing tapes of mao from 1955, they'd do it.

money has no ideology.

you might want to write that on your hand.

Then explain why they would replace progressive talk in FL with yet another sports talk channel that now has an unrecognizable ranking where they were one one of the top stations there. Explain how you would replace one of the top ranked shows (Stephanie Miller) in San Francisco with Glen Beck for the morning commute. Explain how, if there is no market, that the same Stephanie Miller Show is selling out venues all over the country, even in areas where there is no longer a radio station that airs the show. Explain, if there is no market, how the album from the show could have been the top selling comedy album on Amazon and iTunes as well as debuting on Billboards Hot 100.

Comedy.................

 

[RDD_1210]

jealous?? Nope.... tired of the hypocritical call for 'equality' only when it benefits you... and the disguising of unequal treatment of others and calling it equal, when it benefits you... all in the name of subjective 'fairness'

But it doesn't benefit me, no more than it benefits you. So thats another ridiculous argument of yours that is shot down, collapsing everything you believe in.

Like I said, your jealousy of the poor is quite sad.

Nothing is collapsed... does it benefit you more than it benefits a CEO? Yep... more than someone earning a cool 1/4 mil? Yep

Again... you only call for equality when it benefits you and/or your cause to vilify the 'evil rich'...

You simply support a system that is inherently based on unequal treatment, by definition... yet scream when you believe some other group is being treated unequally when it is a cause you support...

Yet I am the one that calls for equality all around.. and the positives and negatives that come with it...

You're a fucking loon

And what if I earn 1/4 million a year? What does that do to your whole argument? Like I said, your argument is based on nothing....its based upon acting like I am myself poor and looking for a handout. But like I said, if I am in fact not poor and instead make a very good income, your entire basis for your argument is a steaming turd pile. Looks like you lose again tough guy.

So tell me again why you envy the poor so much.

 

[Trajan]

24 January 2012
Last updated at 03:20 ET

Wealthy Romney ‘pays 13.9% tax’ | Stock Market News - Business & Tech News


Mitt Romney said he paid all the taxes that were legally required – and not a dollar more

US Republican presidential candidate Mitt Romney has said he expects to pay about $6.2m (£4m) in taxes on income of $42.5m in the last two years.

That makes for a tax rate of 13.9% in 2010 and an expected rate of 15.4% in 2011, his campaign said.

My wife and I receive pensions and social security which we earned and paid into all our lives and we pay 19%. Everything we have is paid for so all our income is subject to taxation at some percentage....even our social security.

do you have any investments ? any at all? if not sux to be you, you should have planned better, you know, own your life........ if you did guess what? you'd pay the lower rate too, my what a concept eh?

again, kerry paid less when he was running, he paid 13%, so please drop some links here that speak to this, I'd love to see them.


oh by the way, you do know the effective rate on that money was upwards of 40% right? or are you just another envious jealous cretin who doesn't care, becasue you'd rather whine?


annnd your last sentence doesn't even make sense, jesus christ, of course its subject to 'some' tax....hello

 

[Trajan]

I don't think Kennedy released his tax forms do you?

I think it's a red herring to make a big deal over tax returns.

So what if Romney is filthy rich, it has absolutely no bearing on what kind of president he would make. (not that I think he'd make a good one. after all I lived in MA when he was governor)

I think you should worry more about how senators and congressmen who only make 160K a year become multi millionaires after just a few terms in elected office than what a private citizen earns.

I don't worry about any of this, as a matter of fact we have become a plutocracy, evidenced by the fact that most members of the Congress are millionaires.

Correction most members of congress become millionaires while serving.

well of course, you see you're supposed to BE poor when you get there, BUT, leave rich, see, thats all OK......

 

[Trajan]

Questing, Would it be legal or ethical for a wealthy candidate to donate to his church, if the church in turn donates to a super PAC which supports him?

Since CU v FEC allows for anonymity, we will never know unless someone in the know has evidence and blows a whistle.

so in the end, your whole post is trash, we knew that, anything else?

 

[Trajan]

3.5 Million to his church? That's some serious tithing!

He also donated an additional +/-3.5M to charity. Unless that was an "I'm running for pres so let's look good this year", it's a very impressive figure.

look up his past contributions. wanna see an uptick? check obamas .

 

[Trajan]

Someone is missing the point. Guess who that is?

i'm gonna go with you.

do you know someone who voluntarily pays more than they're legally required to?

Warren Buffett

links please.

 

[RonC]

I don't think that everyone understands what capital gains taxes are.
Those of you that would like to pay a 15% cap gains tax instead of the income tax rate you pay now you can. Just quit your job so the pay checks will stop coming in. Then take your life's savings and invest it in the stock market, or a small business if you like.

At the end of the year if you have made a profit on the money you invested you will only pay capital gains tax which is 15%. Of course you could loose all of your investment and have nothing left, but that is the gamble you have to take.

On the bright side you get to take your loses off, but only $3000 per year.

You see Romney already paid 39% income tax on any salary he took in. His company paid 35% on any profit it made in corporate tax. Romney also paid both sides of the payroll tax on himself as all self employed people do. You only pay 7.5% and your company pays 7.5%.

After all of that tax Romney took the money he had left and invested it, and any profit he made on those investments he paid the additional cap gains tax of 15%. BUT that money is at risk, and he could loose it all. Unless you get fired or your company goes out of business your pay check will keep coming in, it is not at risk.

Thousands of business across America use capital from investors like Mitt Romney to open and grow. If you raise the taxes on capital gains rich people like Romney will not take the risk of investing the capital. Businesses will suffer and people like you will loose your jobs or the job offers will never come.

The government will actually take in less money because the economy will shrink and people like Romney will not invest their money and just live off of what they have.

 

[Chris]

I don't think that everyone understands what capital gains taxes are.
Those of you that would like to pay a 15% cap gains tax instead of the income tax rate you pay now you can. Just quit your job so the pay checks will stop coming in. Then take your life's savings and invest it in the stock market, or a small business if you like.

At the end of the year if you have made a profit on the money you invested you will only pay capital gains tax which is 15%. Of course you could loose all of your investment and have nothing left, but that is the gamble you have to take.

On the bright side you get to take your loses off, but only $3000 per year.

You see Romney already paid 39% income tax on any salary he took in. His company paid 35% on any profit it made in corporate tax. Romney also paid both sides of the payroll tax on himself as all self employed people do. You only pay 7.5% and your company pays 7.5%.

After all of that tax Romney took the money he had left and invested it, and any profit he made on those investments he paid the additional cap gains tax of 15%. BUT that money is at risk, and he could loose it all. Unless you get fired or your company goes out of business your pay check will keep coming in, it is not at risk.

Thousands of business across America use capital from investors like Mitt Romney to open and grow. If you raise the taxes on capital gains rich people like Romney will not take the risk of investing the capital. Businesses will suffer and people like you will loose your jobs or the job offers will never come.

The government will actually take in less money because the economy will shrink and people like Romney will not invest their money and just live off of what they have.

Horseshit.

The capital gains tax was 20-28% under Reagan.

This economy is starved for demand because there is too much money in too few hands because the millionaires are paying taxes at a lower rate than the rest of us because of the Reagan Bush tax cuts for the rich....

 

[FA_Q2]

jealous?? Nope.... tired of the hypocritical call for 'equality' only when it benefits you... and the disguising of unequal treatment of others and calling it equal, when it benefits you... all in the name of subjective 'fairness'

But it doesn't benefit me, no more than it benefits you. So thats another ridiculous argument of yours that is shot down, collapsing everything you believe in.

Like I said, your jealousy of the poor is quite sad.

Nothing is collapsed... does it benefit you more than it benefits a CEO? Yep... more than someone earning a cool 1/4 mil? Yep

Again... you only call for equality when it benefits you and/or your cause to vilify the 'evil rich'...

You simply support a system that is inherently based on unequal treatment, by definition... yet scream when you believe some other group is being treated unequally when it is a cause you support...

Yet I am the one that calls for equality all around.. and the positives and negatives that come with it...

You're a fucking loon

I have always supported the idea of a basic tiered system that contains zero loopholes and treated all income as just that, income regardless of the source. You make a compelling argument though however I believe that is can be solved through solidifying the tax bracket ratios in the constitution itself. In that manner you avoid the class warfare in favor of actually setting taxes up to accomplish the stated goal: funding the government. I understand that the system you are pushing is the most equal but there is an issue that requiring people that cannot afford food to pay taxes is not necessarily a good thing.


Of course, no one is mentioning that past the initial impact, wages WILL adjust to reflect the new demand but that will take time.

 

[Skull Pilot]

I don't think that everyone understands what capital gains taxes are.
Those of you that would like to pay a 15% cap gains tax instead of the income tax rate you pay now you can. Just quit your job so the pay checks will stop coming in. Then take your life's savings and invest it in the stock market, or a small business if you like.

At the end of the year if you have made a profit on the money you invested you will only pay capital gains tax which is 15%. Of course you could loose all of your investment and have nothing left, but that is the gamble you have to take.

On the bright side you get to take your loses off, but only $3000 per year.

You see Romney already paid 39% income tax on any salary he took in. His company paid 35% on any profit it made in corporate tax. Romney also paid both sides of the payroll tax on himself as all self employed people do. You only pay 7.5% and your company pays 7.5%.

After all of that tax Romney took the money he had left and invested it, and any profit he made on those investments he paid the additional cap gains tax of 15%. BUT that money is at risk, and he could loose it all. Unless you get fired or your company goes out of business your pay check will keep coming in, it is not at risk.

Thousands of business across America use capital from investors like Mitt Romney to open and grow. If you raise the taxes on capital gains rich people like Romney will not take the risk of investing the capital. Businesses will suffer and people like you will loose your jobs or the job offers will never come.

The government will actually take in less money because the economy will shrink and people like Romney will not invest their money and just live off of what they have.

Horseshit.

The capital gains tax was 20-28% under Reagan.

This economy is starved for demand because there is too much money in too few hands because the millionaires are paying taxes at a lower rate than the rest of us because of the Reagan Bush tax cuts for the rich....

So giving that money to the government will create demand?

Federal and state government eat up nearly 50% of GDP now following your logic then that should mean a high demand right?

The problem is that government eats up too much of our money not that it doesn't eat up enough.

 

[DiamondDave]

But it doesn't benefit me, no more than it benefits you. So thats another ridiculous argument of yours that is shot down, collapsing everything you believe in.

Like I said, your jealousy of the poor is quite sad.

Nothing is collapsed... does it benefit you more than it benefits a CEO? Yep... more than someone earning a cool 1/4 mil? Yep

Again... you only call for equality when it benefits you and/or your cause to vilify the 'evil rich'...

You simply support a system that is inherently based on unequal treatment, by definition... yet scream when you believe some other group is being treated unequally when it is a cause you support...

Yet I am the one that calls for equality all around.. and the positives and negatives that come with it...

You're a fucking loon

I have always supported the idea of a basic tiered system that contains zero loopholes and treated all income as just that, income regardless of the source. You make a compelling argument though however I believe that is can be solved through solidifying the tax bracket ratios in the constitution itself. In that manner you avoid the class warfare in favor of actually setting taxes up to accomplish the stated goal: funding the government. I understand that the system you are pushing is the most equal but there is an issue that requiring people that cannot afford food to pay taxes is not necessarily a good thing.


Of course, no one is mentioning that past the initial impact, wages WILL adjust to reflect the new demand but that will take time.

But the problem is that because there are HUGE numbers of citizens who have no stake in the game who then in turn vote to continue others to pay for benefits to come back to them, it will continue the drums of class warfare

Again... with freedom and equal treatment comes both positives and negatives... but when you open up to subjectivity, you get the abuse of power we have now... which makes things worse overall

 

[DiamondDave]

But it doesn't benefit me, no more than it benefits you. So thats another ridiculous argument of yours that is shot down, collapsing everything you believe in.

Like I said, your jealousy of the poor is quite sad.

Nothing is collapsed... does it benefit you more than it benefits a CEO? Yep... more than someone earning a cool 1/4 mil? Yep

Again... you only call for equality when it benefits you and/or your cause to vilify the 'evil rich'...

You simply support a system that is inherently based on unequal treatment, by definition... yet scream when you believe some other group is being treated unequally when it is a cause you support...

Yet I am the one that calls for equality all around.. and the positives and negatives that come with it...

You're a fucking loon

And what if I earn 1/4 million a year? What does that do to your whole argument? Like I said, your argument is based on nothing....its based upon acting like I am myself poor and looking for a handout. But like I said, if I am in fact not poor and instead make a very good income, your entire basis for your argument is a steaming turd pile. Looks like you lose again tough guy.

So tell me again why you envy the poor so much.

And if you make 1/4 million a year, there is someone making 4 mil a year, who you are better off than...

Not to mention... if you REALLY wanted to take care of 'the poor'... you would embrace opening up and doing it yourself, instead of forcing others to do your bidding thru increased governmental power.. you not good enough to take it upon yourself?? You not comfortable with the aspect of freedom which gives you the freedom to be a selfish prick if you so choose??

No matter what.. true equality in treatment scares the bejeezus out of you... which makes one tend to believe you are not in the top tax brackets that house you continually wish to suck from and vilify

 

[BillyV]

I don't think that everyone understands what capital gains taxes are.
Those of you that would like to pay a 15% cap gains tax instead of the income tax rate you pay now you can. Just quit your job so the pay checks will stop coming in. Then take your life's savings and invest it in the stock market, or a small business if you like.

At the end of the year if you have made a profit on the money you invested you will only pay capital gains tax which is 15%. Of course you could loose all of your investment and have nothing left, but that is the gamble you have to take.

On the bright side you get to take your loses off, but only $3000 per year.

You see Romney already paid 39% income tax on any salary he took in. His company paid 35% on any profit it made in corporate tax. Romney also paid both sides of the payroll tax on himself as all self employed people do. You only pay 7.5% and your company pays 7.5%.

After all of that tax Romney took the money he had left and invested it, and any profit he made on those investments he paid the additional cap gains tax of 15%. BUT that money is at risk, and he could loose it all. Unless you get fired or your company goes out of business your pay check will keep coming in, it is not at risk.

Thousands of business across America use capital from investors like Mitt Romney to open and grow. If you raise the taxes on capital gains rich people like Romney will not take the risk of investing the capital. Businesses will suffer and people like you will loose your jobs or the job offers will never come.

The government will actually take in less money because the economy will shrink and people like Romney will not invest their money and just live off of what they have.

Horseshit.

The capital gains tax was 20-28% under Reagan.

This economy is starved for demand because there is too much money in too few hands because the millionaires are paying taxes at a lower rate than the rest of us because of the Reagan Bush tax cuts for the rich....

I like this graph; the one that shows the relationship between capital gains rates and realization of capital gains. This seems to indicate that, when capital gains rates are high, realized capital gains (and hence, tax revenue) falls dramatically, and vice versa. That's because capital gains are voluntary; we don't force people to sell assets to create the gains, and when the penalty for selling is too high, they just don't sell. It seems counterproductive to ignore that just so someone's secretary feels better while increasing business cost of capital and decreasing tax revenues, but what do I know? And just for the record, Warren must pay his secretary pretty well for her to have an effective tax rate of 30%; at $500,000 you'd be almost there.

Aren't statistics fun?

 

[RDD_1210]

Nothing is collapsed... does it benefit you more than it benefits a CEO? Yep... more than someone earning a cool 1/4 mil? Yep

Again... you only call for equality when it benefits you and/or your cause to vilify the 'evil rich'...

You simply support a system that is inherently based on unequal treatment, by definition... yet scream when you believe some other group is being treated unequally when it is a cause you support...

Yet I am the one that calls for equality all around.. and the positives and negatives that come with it...

You're a fucking loon

And what if I earn 1/4 million a year? What does that do to your whole argument? Like I said, your argument is based on nothing....its based upon acting like I am myself poor and looking for a handout. But like I said, if I am in fact not poor and instead make a very good income, your entire basis for your argument is a steaming turd pile. Looks like you lose again tough guy.

So tell me again why you envy the poor so much.

And if you make 1/4 million a year, there is someone making 4 mil a year, who you are better off than...

Not to mention... if you REALLY wanted to take care of 'the poor'... you would embrace opening up and doing it yourself, instead of forcing others to do your bidding thru increased governmental power.. you not good enough to take it upon yourself?? You not comfortable with the aspect of freedom which gives you the freedom to be a selfish prick if you so choose??

No matter what.. true equality in treatment scares the bejeezus out of you... which makes one tend to believe you are not in the top tax brackets that house you continually wish to suck from and vilify

So how does giving an exemption on income earned up to say 20k help me more than it helps someone making more then me? You continually fail to make a logical case.

Again, you seem to think that I only advocate an exemption for the poor or a progressive system because it somehow benefits me. Since I have shown that is not the case, you are still unable to justify why you are so envious of the poor. If the poor have it so good in this country, there is nothing stopping you from becoming one of them....if you aren't already.

The progressive system is equal, since it doesn't care who you are, it places the tax on the dollars and what they mean to people. The first money someone earns will always be for basic life needs, which is why those dollars should not be taxed at the same rate that dollars earned which are spent on life luxuries.