Mitt Romney pays a lower tax rate than you do.

[Vast LWC]

Voters can be smart about things if the information is presented in a factual way and not slanted to look like Romney did something wrong or worse illegal.

Well that leaves out that whole MSNBC crowd.
Hell Al Sharpton can't even get Mitt's name right.
He keeps calling him Williard or some shit.
I think he's talking about Romney.

Just the facts:

1. Most middle class families pay a larger percent of their income than Mitt Romney in taxes.

True.

2. Mitt Romney supports tax code changes that would, in all probability, make his effective tax rate even lower.

True.

3. Though he did nothing illegal, the source of a good portion of his income, Bain Capital, while helping some companies to grow, has also been involved in the dismantling and bankruptcy of a number of other companies, in a greater ratio (22%) than other investment entities of it's kind. And Bain Capital has been known to profit from failed companies, and cash out before bankruptcy.

True.

None of these items are false, or exaggerated.

 

[Chris]

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?

Investors pay taxes at a lower rate than people who work for a living.

The wealthy pay taxes at a lower rate than the rest of us.

The class war is over. The rich won....

 

[WillowTree]

True Story.

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

Well fuck dude. Fifty percent of All Americans pay less Federal Income tax than I do so what's yer fucking point? AT least Romney pays Federal Income Tax.

 

[Vast LWC]

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.

Yeah, I'm so sure that is true.

You'll keep on investing the same way you always do, because it's profitable as hell.

It's the same reason people pay hedge funds ridiculous percentages.

People were happy to invest in the stock market when Cap gains was 30%, and they'll be happy to do so again.

 

[Full-Auto]

Voters can be smart about things if the information is presented in a factual way and not slanted to look like Romney did something wrong or worse illegal.

Well that leaves out that whole MSNBC crowd.
Hell Al Sharpton can't even get Mitt's name right.
He keeps calling him Williard or some shit.
I think he's talking about Romney.

Just the facts:

1. Most middle class families pay a larger percent of their income than Mitt Romney in taxes.

True.

2. Mitt Romney supports tax code changes that would, in all probability, make his effective tax rate even lower.

True.

3. Though he did nothing illegal, the source of a good portion of his income, Bain Capital, while helping some companies to grow, has also been involved in the dismantling and bankruptcy of a number of other companies, in a greater ratio (22%) than other investment entities of it's kind. And Bain Capital has been known to profit from failed companies, and cash out before bankruptcy.

True.

None of these items are false, or exaggerated.

Liar..........

Your first example is mixing apples and oranges.

 

[Vast LWC]

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!

Since all income derived from any job anywhere would be based on the same profit ratio, that would apply to pretty much every paycheck in the US.

Saying that capital gains taxes are "Taxed Twice" is therefore a red herring.

 

[Big Fitz]

Anyone else noticing the left's philosophical basis for their argument?

1. Preserve the status quo welfare state by taxing more despite all it's glaring failures.

2. The rich don't deserve their money as determined by their own lack of comfort with ANYONE earning much more than them.

3. Their feelings of guilt for the poor require you to sacrifice, but not them by an equal amount if you earn more.

Just a curious little pattern I've noticed in all their whining.

 

[Vast LWC]

Liar..........

Your first example is mixing apples and oranges.

OK, first of all, that would not make me a "liar", it would mean that I was making a bad comparison.

Secondly, it is not in fact "Mixing apples and oranges".

Tax is tax, income is income.

Mitt Romney makes a certain income, and pays 15% tax on it.

Most middle class families pay more than that.

You can try to parse this fact with semantics all you want, it doesn't change the facts.

You're the one who's trying to spin here, not me.

 

[Vast LWC]

Anyone else noticing the left's philosophical basis for their argument?

1. Preserve the status quo welfare state by taxing more despite all it's glaring failures.

2. The rich don't deserve their money as determined by their own lack of comfort with ANYONE earning much more than them.

3. Their feelings of guilt for the poor require you to sacrifice, but not them by an equal amount if you earn more.

Just a curious little pattern I've noticed in all their whining.

That's cool. You keep that attitude. I'm sure that the whole "Stop your whining" line will work great on the campaign trail when the issue of Mitt's tax rate comes up.

 

[Big Fitz]

InvestorCentric: Disposable Income Increasing Due To Growth In Government Sector

I dunno. This doesn't seem to be fair OR helping.

And is this really fair on the middle class either? Hmmmmm I think not.

In Entitlement America, The Head Of A Household Of Four Making Minimum Wage Has More Disposable Income Than A Family Making $60,000 A Year | ZeroHedge

How about THIS 'line'?

 

[Cecilie1200]

Since almost half of Americans pay a tax rate of 0%, I wouldn't bet on the thread title.

I'm guessing that almost all the posters on this board pay a tax rate higher than Mitt Romney. And since they're the ones who will be reading this, it applies.

And that's not even taking into account the inherent falseness of your assertion.

I'm guessing there's not a single poster on this board who pays a higher capital gains tax rate than Mitt Romney. Furthermore, I will bet money there's not a single poster on this board who pays a higher income tax rate than he does.

If you thought you were going to get away with disingenuously conflating the two, allow me to just say, "Fuck off."

 

[Vast LWC]

InvestorCentric: Disposable Income Increasing Due To Growth In Government Sector

I dunno. This doesn't seem to be fair OR helping.

And is this really fair on the middle class either? Hmmmmm I think not.

In Entitlement America, The Head Of A Household Of Four Making Minimum Wage Has More Disposable Income Than A Family Making $60,000 A Year | ZeroHedge

How about THIS 'line'?

Your article was written in March of 2010.

Over the past year, government payrolls have been reduced in number significantly, and the private sector has added a significant number of jobs.

Here is a chart showing private sector job growth.

Note that the unemployment rate has remained the same during this period, due to declining public-sector job numbers.:

 

[uscitizen]

True Story.

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

And many corporations pay -100% of Romneys "effective tax rate".


Your point?

 

[Cecilie1200]

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.

How is he "gaming the system"? Where is it written that one is REQUIRED to have THIS sort of income rather than THAT sort of income, because THIS sort is "morally superior" in some arcane fashion?

He's rich. He invests his money. He pays the legal tax rate on investment income. What was he supposed to do with his money? Stuff it in his mattress? Give it all away to charity and get some 9-to-5 wanker job just so you'll feel better about YOUR lousy life?

 

[Vast LWC]

InvestorCentric: Disposable Income Increasing Due To Growth In Government Sector

I dunno. This doesn't seem to be fair OR helping.

And is this really fair on the middle class either? Hmmmmm I think not.

In Entitlement America, The Head Of A Household Of Four Making Minimum Wage Has More Disposable Income Than A Family Making $60,000 A Year | ZeroHedge

How about THIS 'line'?

And, your second example counts medical insurance under medicaid as being income. To the tune of $17,000.00.

Which makes it utterly useless.

 

[Cecilie1200]

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.

Not as many people as you think can game the system like that.

How many people do YOU know that make 50 percent of their income or more via capital gains? What's even more.........how many people do YOU know who pay 20 percent or less in taxes?

I know quite a few actually. You probably do, too. After all, half of all Americans pay 0 percent federal income taxes.

Mitt pays 15 percent federal income taxes.

The middle class pays more than all of them.

No, dumbass, Mitt doesn't pay "15 percent federal income taxes". He pays 15 percent capital gains taxes. I would imagine that when he has a regular salary in which to pay income taxes, such as when he was governor of Massachusetts or heading Bain Capital, he was paying SIGNIFICANTLY more, both percentage-wise and in real dollars, in income tax than anyone in the middle class.

 

[Vast LWC]

And many corporations pay -100% of Romneys "effective tax rate".


Your point?

Not sure what your point on that would be...

As Romney and the rest of the Republicans want to lower that tax rate even further.

 

[Cecilie1200]

True Story.

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

Yep, Because his only income is from Capital gains.

You too can enjoy this low % when you see gains in your own Retirement Portfolio, It is not just for the rich.

Ask yourself this:

What percent of capital gains income in the United States applies to rich people, and what percent applies to everyone else?

If raising the Cap Gains rate negatively affects older people, then an exception can be made on retirement income.

So frigging generous of you to offer to go through the tax code and adjust it based on your own personal view of who is good enough to keep their money and who is evil enough to need to be screwed over, but no thanks. I prefer living in a country with laws that are the same for everyone, instead of being based on an idiot's insane jealousy. Go figure.

 

[Vast LWC]

How is he "gaming the system"? Where is it written that one is REQUIRED to have THIS sort of income rather than THAT sort of income, because THIS sort is "morally superior" in some arcane fashion?

He's rich. He invests his money. He pays the legal tax rate on investment income. What was he supposed to do with his money? Stuff it in his mattress? Give it all away to charity and get some 9-to-5 wanker job just so you'll feel better about YOUR lousy life?

You're absolutely right.

The point is that Romney is running for president, and is working on a platform that includes lowering tax rates for the rich.

Which makes him part of the problem.

 

[Vast LWC]

So frigging generous of you to offer to go through the tax code and adjust it based on your own personal view of who is good enough to keep their money and who is evil enough to need to be screwed over, but no thanks. I prefer living in a country with laws that are the same for everyone, instead of being based on an idiot's insane jealousy. Go figure.

I retracted that statement a few posts later.

I do in fact think there should be a flat tax code. Oddly enough.

One that includes ALL taxes. Like Capital Gains tax, Payroll taxes, Sales Tax, etc, etc.

With no deductions, except maybe for your first two children. I say first two only, so the whole "Welfare mom" argument can't rear it's ugly head.

Would have to be set at about 18-20% to balance the budget, which is quite a bit higher than Republicans are suggesting, but I think this would work.

I think there would have to be some sort of low limit so extremely poor folks don't starve though... maybe the bottom 10%? Cutting out taxes for the bottom 10% would certainly not create any appreciable loss of revenue.