Mitt Romney pays a lower tax rate than you do.

[PLYMCO_PILGRIM]

What is he claiming his effective tax rate is?

15%. It's in the OP.

He isn't lying then I pay a higher effective rate than him.

It doesn't bother me though because I pay 4 figures in taxes every year while he pays 7 figures

 

[percysunshine]

22 pages of posts, and some people still do not know the difference between wages and capital gains.

 

[ABikerSailor]

What is he claiming his effective tax rate is?

15%. It's in the OP.

He isn't lying then I pay a higher effective rate than him.

It doesn't bother me though because I pay 4 figures in taxes every year while he pays 7 figures

It's not about the monetary amout, it's that he only has to pay 15 percent of his income in taxes while the rest of us have to pay almost a third of our income in taxes.

 

[percysunshine]

It's not about the monetary amout, it's that he only has to pay 15 percent of his income in taxes while the rest of us have to pay almost a third of our income in taxes.

Your timing is perfect. You do not know the difference.

 

[Vast LWC]

22 pages of posts, and some people still do not know the difference between wages and capital gains.

Of course people know the difference between wages and capital gains.

But some people think that somehow contributing physical or mental labor, instead of loaned capital, to a corporate effort is somehow less important, and therefore should be taxed at a higher rate.

Why should my hard labor be taxed at 28% (close to 50% for overtime, etc) while someone who just contributes capital be taxed at 15%?

I'm paid by the corporation's profits, just like the stockholders are paid by the corporation's profits. So a higher corporate tax would affect my wages, or perhaps my job, just like it affects dividends.

The only real difference is what each individual is contributing to the group effort.

People on the right side of the fence seem to believe that investment contribution is more important than labor contribution. I am stating that I do not feel that way.

 

[cheetah440]

15%. It's in the OP.

He isn't lying then I pay a higher effective rate than him.

It doesn't bother me though because I pay 4 figures in taxes every year while he pays 7 figures

It's not about the monetary amout, it's that he only has to pay 15 percent of his income in taxes while the rest of us have to pay almost a third of our income in taxes.

oh really? "the rest of us"? First of all, this is FEDERAL INCOME taxes and almost half pay $0 in Federal income taxes. You don't know a single person who pays 1/3 of his pay in FEDERAL INCOME taxes.

Maybe everyone would be happier if he invested in tax free munis like Kerry and his heiress and didn't even pay 15%. But then again that would make Romney a dope and a bad investor. I guess America would be happier with a stupid investor rather than a smart investor

 

[Vast LWC]

Your timing is perfect. You do not know the difference.

Of course he knows the difference.

Capital Gains income is still income.

 

[percysunshine]

22 pages of posts, and some people still do not know the difference between wages and capital gains.

Of course people know the difference between wages and capital gains.

But some people think that somehow contributing physical or mental labor, instead of loaned capital, to a corporate effort is somehow less important, and therefore should be taxed at a higher rate.

Why should my hard labor be taxed at 28% (close to 50% for overtime, etc) while someone who just contributes capital be taxed at 15%?

I'm paid by the corporation's profits, just like the stockholders are paid by the corporation's profits. So a higher corporate tax would affect my wages, or perhaps my job, just like it affects dividends.

The only real difference is what each individual is contributing to the group effort.

People on the right side of the fence seem to believe that investment contribution is more important than labor contribution. I am stating that I do not feel that way.

You have a 401K?

There are two differences. The first is that capital money has already been taxed as wage money once, it is a second, double, tax. The second difference is that there is risk associated with capital money that is not associated with wage money.

This stuff is not rocket science.

 

[cheetah440]

22 pages of posts, and some people still do not know the difference between wages and capital gains.

Of course people know the difference between wages and capital gains.

But some people think that somehow contributing physical or mental labor, instead of loaned capital, to a corporate effort is somehow less important, and therefore should be taxed at a higher rate.

Why should my hard labor be taxed at 28% (close to 50% for overtime, etc) while someone who just contributes capital be taxed at 15%?

I'm paid by the corporation's profits, just like the stockholders are paid by the corporation's profits. So a higher corporate tax would affect my wages, or perhaps my job, just like it affects dividends.

The only real difference is what each individual is contributing to the group effort.

People on the right side of the fence seem to believe that investment contribution is more important than labor contribution. I am stating that I do not feel that way.

You aren't paid anything like a stockholder is paid. Many people cash paychecks every day from businesses that turn no profit.

 

[Vast LWC]

oh really? "the rest of us"? First of all, this is FEDERAL INCOME taxes and almost half pay $0 in Federal income taxes. You don't know a single person who pays 1/3 of his pay in FEDERAL INCOME taxes.

Maybe everyone would be happier if he invested in tax free munis like Kerry and his heiress and didn't even pay 15%. But then again that would make Romney a dope and a bad investor. I guess America would be happier with a stupid investor rather than a smart investor

You do realize why Municipal Bonds are tax free, right?

And I see you realize that they're generally not very profitable, so the Kerrys probably make very little of their income from them.

However, I would assume that the Kerrys are in fact making a lot of money off of capital gains.

The difference being that John Kerry does not support the 15% rate on capital gains.

 

[cheetah440]

22 pages of posts, and some people still do not know the difference between wages and capital gains.

Of course people know the difference between wages and capital gains.

But some people think that somehow contributing physical or mental labor, instead of loaned capital, to a corporate effort is somehow less important, and therefore should be taxed at a higher rate.

Why should my hard labor be taxed at 28% (close to 50% for overtime, etc) while someone who just contributes capital be taxed at 15%?

I'm paid by the corporation's profits, just like the stockholders are paid by the corporation's profits. So a higher corporate tax would affect my wages, or perhaps my job, just like it affects dividends.

The only real difference is what each individual is contributing to the group effort.

People on the right side of the fence seem to believe that investment contribution is more important than labor contribution. I am stating that I do not feel that way.

You have a 401K?

There are two differences. The first is that capital money has already been taxed as wage money once, it is a second, double, tax. The second difference is that there is risk associated with capital money that is not associated with wage money.

This stuff is not rocket science.

Some people just can't grasp this. To them it is rocket science.

 

[Vast LWC]

You have a 401K?

There are two differences. The first is that capital money has already been taxed as wage money once, it is a second, double, tax. The second difference is that there is risk associated with capital money that is not associated with wage money.

This stuff is not rocket science.

I'm sorry, but that statement is utterly false.

When you make the money in the first place through wages, it is taxed, yes.

However, when you invest it, it is not taxed again. Only profit from your investments is taxed.

In fact, if your investments lose money, you can then claim a loss on your taxes.

 

[percysunshine]

Of course people know the difference between wages and capital gains.

But some people think that somehow contributing physical or mental labor, instead of loaned capital, to a corporate effort is somehow less important, and therefore should be taxed at a higher rate.

Why should my hard labor be taxed at 28% (close to 50% for overtime, etc) while someone who just contributes capital be taxed at 15%?

I'm paid by the corporation's profits, just like the stockholders are paid by the corporation's profits. So a higher corporate tax would affect my wages, or perhaps my job, just like it affects dividends.

The only real difference is what each individual is contributing to the group effort.

People on the right side of the fence seem to believe that investment contribution is more important than labor contribution. I am stating that I do not feel that way.

You have a 401K?

There are two differences. The first is that capital money has already been taxed as wage money once, it is a second, double, tax. The second difference is that there is risk associated with capital money that is not associated with wage money.

This stuff is not rocket science.

Some people just can't grasp this. To them it is rocket science.

For some people, stupidity is a life style choice.

 

[Vast LWC]

You have a 401K?

There are two differences. The first is that capital money has already been taxed as wage money once, it is a second, double, tax. The second difference is that there is risk associated with capital money that is not associated with wage money.

This stuff is not rocket science.

Some people just can't grasp this. To them it is rocket science.

It becomes rocket science when you make shit up and try to call it fact.

The statement you are responding to is simply false. See my prior post.

 

[Cecilie1200]

If Newt Gingrich were asked if he would raise capital gains taxes, you would see one backpedaling, tongue swallowing, class warfare playing, hypocritical piece of shit caught in the headlights.

Yeah, that's why he states it outright on his website in no uncertain terms: because he's looking to hedge and weasel around it. Contemplate the possibility that the rest of the world doesn't judge good and bad based on YOUR two-brain-cell perceptions.

When I want to hear your Miss Cleo act, I'll ask you. Until then, how's about you confine your comments to things the candidates have ACTUALLY said and done, rather than trying to excoriate them based on what YOU "know" they would do IF [fill in the blank] happened?

 

[Vast LWC]

For some people, stupidity is a life style choice.

And some people once again resort to personal attacks when they can't back up their lies.

 

[ABikerSailor]

He isn't lying then I pay a higher effective rate than him.

It doesn't bother me though because I pay 4 figures in taxes every year while he pays 7 figures

It's not about the monetary amout, it's that he only has to pay 15 percent of his income in taxes while the rest of us have to pay almost a third of our income in taxes.

oh really? "the rest of us"? First of all, this is FEDERAL INCOME taxes and almost half pay $0 in Federal income taxes. You don't know a single person who pays 1/3 of his pay in FEDERAL INCOME taxes.

Maybe everyone would be happier if he invested in tax free munis like Kerry and his heiress and didn't even pay 15%. But then again that would make Romney a dope and a bad investor. I guess America would be happier with a stupid investor rather than a smart investor

Bullshit.........I took care of paychecks for my commands when I was serving in the Navy, and for the 20 years that I was in, federal income tax was taken out at 28 percent if you lived in a state that didn't charge income tax on the military, and it was at 32 percent (4 percent for state taxes) if your state did charge income tax on the military.

Try again stupid.

 

[percysunshine]

You have a 401K?

There are two differences. The first is that capital money has already been taxed as wage money once, it is a second, double, tax. The second difference is that there is risk associated with capital money that is not associated with wage money.

This stuff is not rocket science.

I'm sorry, but that statement is utterly false.

When you make the money in the first place through wages, it is taxed, yes.

However, when you invest it, it is not taxed again. Only profit from your investments is taxed.

In fact, if your investments lose money, you can then claim a loss on your taxes.

How do you do that? You said it was a false statement, and then went on to confirm what I said. Does it hurt your brain?

 

[Cecilie1200]

yeah, that is such a head shaker isn't it. Sadly there are too many like him/her who just don't have a clue and the MSM who have a stake in the election certainly aren't going to try and educate the public on the facts. You will instead get hit piece after hit piece from garbage journalism like Time and Newsweek and NYTimes etc pandering to the ignorant masses, Deplorable and really unethical, but that's what will happen and that's what this country is about today. Uneducated masses being mislead by educated liberal liars.

Yes, of course. How dare anyone think the workers, or the "ignorant masses", as you like to refer to them, should get the same respect as the all-holy "Job Creators"?

It's obvious that the workers are just the scum on the bottom of the "Job Creator" shoes.

How did it take me so long to realize this? Man, I need to brush up on my Ayn Rand I guess.

See, right there is your problem: you think US tax and economic policy should be based on some lamebrain notion of "respect". We don't set tax rates based on showing "respect" for someone, shitforbrains. We set it currently - which isn't the best idea, but a hell of a lot better than your kindergarten view of life - based on which activities we want to encourage or discourage. Like it or don't, investment is a lot more valuable to the nation than just being a working drone. On the other hand, being a working drone is a lot more valuable to the nation than being a welfare leech, but thanks to "fairness" snivelers like you, we are currently in a position of discouraging the first, and encouraging the second. So you'll excuse us if we don't feel like we need any more advice from the likes of you.

By the way, shameless plug time: before Newt Gingrich's original Contract With America, we were encouraging welfare leeches even more. He made great strides in turning the hammock back into a safety net.

 

[Vast LWC]

You have a 401K?

There are two differences. The first is that capital money has already been taxed as wage money once, it is a second, double, tax. The second difference is that there is risk associated with capital money that is not associated with wage money.

This stuff is not rocket science.

I'm sorry, but that statement is utterly false.

When you make the money in the first place through wages, it is taxed, yes.

However, when you invest it, it is not taxed again. Only profit from your investments is taxed.

In fact, if your investments lose money, you can then claim a loss on your taxes.

How do you do that? You said it was a false statement, and then went on to confirm what I said. Does it hurt your brain?

Wow, you really do talk in circles, don't you? Let's review, in detail:

You said:

that capital money has already been taxed as wage money once, it is a second, double, tax.

There is no "second, double tax" on the wage money itself, only on profit earned from the wage money. Therefore that statement is false.

Next you said:

there is risk associated with capital money that is not associated with wage money.

And that risk is refundable in taxes as a loss.

Also, there is risk associated with labor. Injuries can occur.

And a worker is contributing his time and energy, equal to the amount of wages they receive. So, the "risk" is made up for with "time".

An investor doesn't contribute time, and will get their principal investment back, as well as any profit, when they are done. Workers are paid for their time, but never get that time back.