Without a job, Romney made $57,000.00 a DAY for last two years.

[editec]

Oh for goodness sakes, you're going to try to quibble out a point of semantics aren't you?

Well you're still wrong anyway, Cecilie

It IS income.

The distinction without a difference you are seeking to turn into something it isn't, is merely that this is not taxed AS INCOME BY THE IRS UNTIL it is taken out of his retirement account.

And when it is taxed, it will still taxed as what it is....capital gains INCOME.

You're doing a valiant job, Cecilie, but you are punching way above your fighting weight here trying to quibble over THIS word IN THE CONTEXT it was introduced in this topic.

It isn't quibbling ed, nor is it semantics. A gain in the value of an investment is not income. Your retirment acct gaining value is not income. NOTHING is income until it 'comes in' or, in accounting terms, is realized. It isn't some evil loophole. It's the simple fact that to tax one's income they have to have money coming in. You can't tax nothing which is what a gain in the value of an investment is to the investor UNTIL he sells it. THEN and only then is that income and then and only then is it taxable. Here's simple way to look at it. Is your car income?

Oh it is, Cecile.

In the context of my comment, we were talking about how mucheRomeny was making.

But they reported not on how much he makes, but how much his TAXABLE income was.

Deferred from taxation income is still HIS income.

You can keep telling me it isn't, but you're just plain wrong.

 

[Bern80]

It isn't quibbling ed, nor is it semantics. A gain in the value of an investment is not income. Your retirment acct gaining value is not income. NOTHING is income until it 'comes in' or, in accounting terms, is realized. It isn't some evil loophole. It's the simple fact that to tax one's income they have to have money coming in. You can't tax nothing which is what a gain in the value of an investment is to the investor UNTIL he sells it. THEN and only then is that income and then and only then is it taxable. Here's simple way to look at it. Is your car income?

Oh it is, Cecile.

In the context of my comment, we were talking about how mucheRomeny was making.

But they reported not on how much he makes, but how much his TAXABLE income was.

Deferred from taxation income is still HIS income.

You can keep telling me it isn't, but you're just plain wrong.

As far as I can tell you were talking about his retirement account. Which is not income until he starts drawing from it. Even trying to say you're talking about how much money he makes is not the same thing as income.