Mitt Romney pays a lower tax rate than you do.

[GHook93]

You fucking douche bag, the Bush tax cuts, cut taxes for everyone! That is why Obama couldn't let them expire, because he would have essentially raised taxes on everyone!

The Reagan Bush tax cuts for the rich effectively transferred trillions of dollars from the middle class to the wealthy.

Now the Republicans want a flat tax, so the working poor can pay for all the money that the wealthy received.

Is there now evil in the world that the Republican Party won't support?

 

[Chris]

You fucking douche bag, the Bush tax cuts, cut taxes for everyone! That is why Obama couldn't let them expire, because he would have essentially raised taxes on everyone!

The Reagan Bush tax cuts for the rich effectively transferred trillions of dollars from the middle class to the wealthy.

Now the Republicans want a flat tax, so the working poor can pay for all the money that the wealthy received.

Is there now evil in the world that the Republican Party won't support?

Reagan's own budget director, David Stockman, said the Reagan tax cuts were a "trojan horse" to cut taxes for the rich.

Do a little reading...

 

[Chris]

True Story.

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

Actually it isn't a true story. He is investing his money and paying capital gains and NOT INCOME TAX. The he is paying he second tax on money that was already taxed!

Not hardly.

Romney was a vulture capitalist.

Looting American companies and shipping their jobs overseas.

 

[Chris]

Fine change the tax code....
But for one thing I doubt I am alone in this.
The left raises taxes on Capital gains and I will no longer
invest in anything outside my 401k or IRA acct.
Why would I want to pay more taxes on my money that
was already taxed...

The left get a good idea and they totally screw the pooch on it.
Just look at Obama care.

Consider though, that those making 1000 times our salary on investment income aren't exactly punching time cards, or showing up for work 40hrs a week. Again, neither are Federal Workers. Then there are those working 80+hrs a week. It's a pretty tangled web we weave huh. Is it fair to expect a Congress that cannot even come up with a budget plan to restructure a fair impartial tax code? Is it even possible?

Before we start attacking people who are living off of Returns on Investments. We might want to look at who they are. Because a very good Chunk of Retired People in America are living off Investments. Meaning they only taxes they pay are the 15% long term Capital Gains tax as well. Are we going to raise Taxes on everyone who has Capital Gains? Or just those we deem to rich, and not the Retired people who were smart enough to build a nest egg and are not living off it?

So make it a graduated scale.

The rich pay at a higher rate rather than the lower rate they pay now.

 

[OohPooPahDoo]

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?

A guy who knows how to game the system by making sure all of his income is "capital gains". Was he supposed to ignore the rules that give him an advantage? Would you?

Gee, how many people do we have gaming the system these days?

Tens of millions. On both ends of the income spectrum, squeezing the shit out of the middle.

You can't change earned income into capital gains by "gaming" the system. The capital gains tax isn't "gaming" - it does exactly what the lawmakers who wrote it intended it to do - tax income from investment at a lower rate than income from labor and ingenuity, so that the investor class would be favored over the working and creative classes.

 

[OohPooPahDoo]

True Story.

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

Actually it isn't a true story. He is investing his money and paying capital gains and NOT INCOME TAX. The he is paying he second tax on money that was already taxed!

Capital gains tax applies only to capital GAINS (duh) - the principal, which has already been taxed, is not taxed again.

 

[Two Thumbs]

True Story.

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

idiot

Not only do I not pay taxes, I've turned a profit every year for the last 5 years.

 

[editec]

It is a social engineering decision that CApital gains ARE TAXED AT LOWER RATES THAN LABOR GAINS.

What that social engineering is really saying is this.

We value the investor class MORE than we value the laboring class.

 

[Ravi]

True Story.

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

Actually it isn't a true story. He is investing his money and paying capital gains and NOT INCOME TAX. The he is paying he second tax on money that was already taxed!

No he isn't. You pay taxes on money earned. If he started out with 100,000 and invested it and ended up with 110,000 he only pays taxes on the 10,000 profit.

You've been told this several times and for some odd reason you keep repeating the same bullshit.

 

[Skull Pilot]

It is a social engineering decision that CApital gains ARE TAXED AT LOWER RATES THAN LABOR GAINS.

What that social engineering is really saying is this.

We value the investor class MORE than we value the laboring class.

Or is it saying

Without investment we have no economy

 

[Skull Pilot]

True Story.

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

Actually it isn't a true story. He is investing his money and paying capital gains and NOT INCOME TAX. The he is paying he second tax on money that was already taxed!

No he isn't. You pay taxes on money earned. If he started out with 100,000 and invested it and ended up with 110,000 he only pays taxes on the 10,000 profit.

You've been told this several times and for some odd reason you keep repeating the same bullshit.

And he only pays those taxes when he realizes that profit. If he never sells his stock for example he pays no taxes on the appreciated value

 

[JoeB131]

The Reagan Bush tax cuts for the rich effectively transferred trillions of dollars from the middle class to the wealthy.

Now the Republicans want a flat tax, so the working poor can pay for all the money that the wealthy received.

Is there now evil in the world that the Republican Party won't support?

Um, guy, the Reagan Tax cuts stopped taking money from the rich.

What's taken money from the middle class was all these idiotic free trade treaties that moved the good paying jobs overseas.

Who signed those?

Your Boy, Bill Clinton.

 

[Two Thumbs]

True Story.

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

Actually it isn't a true story. He is investing his money and paying capital gains and NOT INCOME TAX. The he is paying he second tax on money that was already taxed!

No he isn't. You pay taxes on money earned. If he started out with 100,000 and invested it and ended up with 110,000 he only pays taxes on the 10,000 profit.

You've been told this several times and for some odd reason you keep repeating the same bullshit.

That's b/c you keep repeating your own ignorance.

After he earns enough AFTER taxes to invest 100k, he then pays taxes off the gains, if any.

you know, he pays income taxes and gains taxes.

 

[Article 15]

Actually it isn't a true story. He is investing his money and paying capital gains and NOT INCOME TAX. The he is paying he second tax on money that was already taxed!

No he isn't. You pay taxes on money earned. If he started out with 100,000 and invested it and ended up with 110,000 he only pays taxes on the 10,000 profit.

You've been told this several times and for some odd reason you keep repeating the same bullshit.

That's b/c you keep repeating your own ignorance.

After he earns enough AFTER taxes to invest 100k, he then pays taxes off the gains, if any.

you know, he pays income taxes and gains taxes.

wut?

If someone working a job saves 100k after taxes then invests it they only pay the capital gains tax on the profit from said investment, not on the initial investment plus the profit.

ghook is arguing that this is somehow double taxation....which is pretty effing dumb.

 

[FA_Q2]

It is a social engineering decision that CApital gains ARE TAXED AT LOWER RATES THAN LABOR GAINS.

What that social engineering is really saying is this.

We value the investor class MORE than we value the laboring class.

Not really. It is a decision based on mobility, not value. Labor has little mobility. You work where you live and are unlikely to move to another country solely to get a better tax rate. On the other hand, capitol in today's markets are extremely mobile and can go anywhere at any time. This is also not to mention the risk factors involved and the ability for capitol to not work at all. The low rate is there to encourage investments here versus other locations.

Does that make it right? No but to claim that it is value based is not really correct. Back to risk as well, there is no risk that your labor will not be paid for as that is illegal. It happens but is very unlikely. On the other hand, investments always come with the risk of loss. Should labor receive the same tax structure when it is so much more stable than investments that come with inherent risk?

 

[Two Thumbs]

No he isn't. You pay taxes on money earned. If he started out with 100,000 and invested it and ended up with 110,000 he only pays taxes on the 10,000 profit.

You've been told this several times and for some odd reason you keep repeating the same bullshit.

That's b/c you keep repeating your own ignorance.

After he earns enough AFTER taxes to invest 100k, he then pays taxes off the gains, if any.

you know, he pays income taxes and gains taxes.

wut?

If someone working a job saves 100k after taxes then invests it they only pay the capital gains tax on the profit from said investment, not on the initial investment plus the profit.

ghook is arguing that this is somehow double taxation....which is pretty effing dumb.

yeah, it's not double taxation.

It's a different kind of tax on money made a different way.

I'm not certain, but I think when you cash in your 401ks you pay a gains tax.

 

[rightwinger]

Actually it isn't a true story. He is investing his money and paying capital gains and NOT INCOME TAX. The he is paying he second tax on money that was already taxed!

No he isn't. You pay taxes on money earned. If he started out with 100,000 and invested it and ended up with 110,000 he only pays taxes on the 10,000 profit.

You've been told this several times and for some odd reason you keep repeating the same bullshit.

And he only pays those taxes when he realizes that profit. If he never sells his stock for example he pays no taxes on the appreciated value

And since the super wealthy don't need this money to pay the rent or buy the food it just gets pocketed away as additional wealth without ever being taxed

 

[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...

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.

But in the world of fiscal reality, it does.

They are using the Social Security fund to pay other obligations.

They can call it "borrowing" all they want, it will amount to the same thing in the end.

And, since that is the case, Social Security tax, for all intensive purposes, has become income tax.

And that should answer your first question.

 

[Vast LWC]

You can yell BS until the cows come home

His income comes from investments.

When you can disprove that. Then pipe up parrot.

No-one has claimed that Romney, or Bain capital, has done anything illegal.

Of course his income comes from investments.

But the investment institution he headed was involved in immoral and anti-American behavior, and that is the whole point of this thread.

 

[Full-Auto]

No he isn't. You pay taxes on money earned. If he started out with 100,000 and invested it and ended up with 110,000 he only pays taxes on the 10,000 profit.

You've been told this several times and for some odd reason you keep repeating the same bullshit.

And he only pays those taxes when he realizes that profit. If he never sells his stock for example he pays no taxes on the appreciated value

And since the super wealthy don't need this money to pay the rent or buy the food it just gets pocketed away as additional wealth without ever being taxed