Willard Mitt Romney and his Great tax rate- Hey Mitt release your tax records?

[wellendowed1911]

Willard Mitt Romney pays a 15% tax rate on his income- wow what a great rate- that's much lower than people who make far less. Willard represents the 1%- what is he hiding that he won't release his tax records?
This is a man who can boldly on national TV wager a $10k bet and also say that his $300k from speeches wasn't that much money- WOW- Does Willard think he is in touch with the average American????

Oh let's not forget that this is the same man that during tough economic times decides to quadruple his 12 million dollar home- WOW!!!!!!!!

[nevergaveitathought]

the question ought to be.....

how the hell did obama and his wife ever get to the highest tax bracket without producing one thing or ever having a job? and not why romney's rate is lower

ms obama had a no show up paycheck from the hospital thing in chicago based solely upon obama getting them some sort of grant (which sounds like a kickback to me), the book deal for which it is highly suspected bill ayers wrote, the house deal from tony...etc


romney earned his money and theres a reason the capital gains tax is a capital gains tax.

btw romney is providing jobs spending money on his house..obama has done nothing but cost jobs in the private sector since he's been in office

all this pretension that obama is a 99%-er and not a 1%-er or that obama's cabinet isnt populated with the rich is just galling.

its not the 1% thats the issue anyway, our problem in this country is the 50% who wont get off thier ass

[TheDaliLama]

Big fucking deal.

[WTF]

Hey why is it that if you make one million bucks from working a income producing job you pay up to 35% tax bracket but if you make one million bucks speculating in the market you pay at a 15% clip?

Seems like tax's rates like that discourage productive work over speculative investement.

Seems that just bubbles up the Stock Market..

Now I am not a very smart man...you brainiacs tell me where I'm missing something.

[nevergaveitathought]

Originally Posted by WTF

Hey why is it that if you make one million bucks from working a income producing job you pay up to 35% tax bracket but if you make one million bucks speculating in the market you pay at a 15% clip?

Seems like tax's rates like that discourage productive work over speculative investement.

Seems that just bubbles up the Stock Market..

Now I am not a very smart man...you brainiacs tell me where I'm missing something.

if you speculate, you pay the same rate as if you were working. the lower rate only applies to long-term gains (held over one year)

in and out or daily trading doesnt get that lower rate, and in fact could be deemed a job subject to self employment tax also (payroll tax)

and losses? they only offset gains and any excess losses can only offset other income, salaries etc by a maximum of $3,000 per year, which basically means, if you lose, you lose. so on the one hand, we will currently tax your gains, and in a loss year? sorry charley

[CuteOldGuy]

Kinda shows who gets to write the tax laws, doesn't it? And it ain't the common man. This is why we must repeal the 16th Amendment and eliminate the income tax. It will never be simple, fair or reasonable.

[i'va biggen]

Guess we will see if he is telling the truth.Last night's news he said he pays 30% taxes on his old money,and made a little over 400k speaking .You only pay 15% on capitol gains.

[dilbert firestorm]

Originally Posted by CuteOldGuy

Kinda shows who gets to write the tax laws, doesn't it? And it ain't the common man. This is why we must repeal the 16th Amendment and eliminate the income tax. It will never be simple, fair or reasonable.

barring lawyers from being legislators would help too.

[JD Barleycorn]

Well Bill Clinton made 84 million dollars for speaking. How much is that per word?

Here is how it works WTF. You go work your ass off for a year and you make a million dollars. The government has decided that you should pay 35% of your income in taxes. Primarily you only helped yourself with that million dollars. Of course you bought stuff and that helps someone else have a job but only just a little. It takes more than one of you to make a job for someone.

For Mitt to make a million dollars in capital gains he had to invest 10, 15, 20 million dollars of his money in something that he hopes will turn a profit. This does create numerous jobs because something has to be produced for this money. If you are smart and Mitt seems to be smart, you make a capital gain which is also known as profit. If you make it all within one year you have to pay 35% tax on it but if you make it over 5 or 10 years then you pay 15% on your profit. Why the lower rate? Because government decided that the lower rate encouraged people to risk their money on job creating ventures. So if the investment is sucessful then the government makes 15% but if the investment is a bust does the government make up the loss? Nope. What a racket for the government. When you win, they win. When you lose, they still win.

[i'va biggen]

Hey JD think any of his money in offshore accounts makes him any money,without working his ass off???

[Iaintliein]

97%, that's how many paid a lower percentage than Romney (whom I will not vote for).

http://newsbusters.org/blogs/noel-sh...eys-15-percent

Meanwhile,
Did Kerry ever pay the MA tax on his yacht? Didn't think so.

[nevergaveitathought]

Originally Posted by Iaintliein

97%, that's how many paid a lower percentage than Romney (whom I will not vote for).

http://newsbusters.org/blogs/noel-sh...eys-15-percent

Meanwhile,
Did Kerry ever pay the MA tax on his yacht? Didn't think so.

speaking of kerry

his wife, her royalness, who crosses her arms over her heart and then spreads them wide to call all the hurting, all the little people, all who will, please come, that theresa...doesnt she have her fortune in tax exempt bonds for which she pays no federal income tax what-so-ever?

now you see, i really dont fault her because thats the law, and the law is there for certain reasons of economics, just as is a capital gains tax.

[timpage]

You can tell it's an issue the repiglicans are worried about when they start talking about Bill Clinton, John Kerry, John Kerry's wife and killing all the lawyers.

I doubt it will bother the brainwashed and braindead GOP zombies like the posters who have been convinced by the conservative entertainment spin industry that millionaires like Romney only have their best interests at heart. But, it's not going to play well with the independents who will decide this election. Most of whom are middle-class folks who pay a higher rate than ole Mitt.

Mitt fucked up by not releasing his returns at the very beginning of the campaign. The timing on this could be bad for him. Gives Newt and the rest of the wannabes an issue, if they want it. Since Newt and the rest of the GOP are strong supporters of the absurdly low capital gains tax, I don't know how they will square it with criticisms of Romney. I wouldn't be surprised if Newt and some of the folks around here take the position that he should be paying less taxes.....or no taxes at all. Right? Chime in NOW crazy people!

[JD Barleycorn]

I see some people equate taxation with goodness and results. I wonder why you hate someone who uses their brain and good sense to make money instead of their back. Romney took chances and made money. He made so much money that he caused many people to have jobs. He wanted a nice house. Carpenters don't do that stuff for free, nor do electricians, plumbers, or masons. You could do it too. Work your ass for a few years and build up a nest egg. Take the nest egg and a killer idea, start a business. Work you ass and your brain for a few years, open another business. Some day with luck and hard work you will be a millionaire. All it takes is hard work, dedication, some luck, and a good idea.

We have a senator up here who forgot to pay the property tax on her private plane.
We also have a congressman who forgot to pay the property tax on his personal business (a car wash).
In Washington we have more than one cabinet officer who forgot to pay their federal taxes.
And some of you are mad at someone who followed the rules and obeyed the laws.

[CuteOldGuy]

What is gained by viewing a candidate's tax return? No good can come from it, because people will use it to accuse the candidate of something. If there were fraud or evasion involved, the IRS would catch it, so why do we need to know? If they obeyed the law when preparing the damn thing, what difference does it make if we look at it?

If Romney paid a lower tax rate than others, but obeyed the law, then the law is fucked up, not Romney. Same with the other candidates.

And for the record, I don't support Romney, Santorum or Gingrich. And I also don't support the income tax, and think it should be repealed. But this obsession with a person's income tax is silly. It doesn't make any difference.