Everyone here can pay only 15% all they have to do is spend 20 years investing
instead of buying a bunch of junk they don't need. They one thing
that sets the US apart, is that anyone can WORK there way to the American Dream.
Over half of our people are collecting handouts off of the backs of people like
Romney, and they whine for more.Go figure.
We now have a nation of beggars. Maybe Romney should be poor and collecting
entitlements. It's now the American dream.
Our Spending is at an all time high and our tax rates are at record lows.It is not rocket science to conclude that we need to adjust both.Or is it.....
Can we just sum it up and say we all--and that means everybody--is CONFLICTED
about money??We're conflicted about people, in our estimation, that
have too much. Is their money a sign and reflection of their hard
work, thrift, intelligence, business sense and capitalism at work--or of too
many tax loopholes, unethical practices, corruption and greed?
How out-of-touch could the White House possibly be?"Spokesman
Jay Carney said: "This only illuminates what (Obama) believes is an issue,
which is that everybody who's working hard ought to pay their fair share. That
includes millionaires who might be paying an effective tax rate of 15 percent
when folks making $50,000 or $75,000 or $100,000 a year are paying much
more.""It is capital gains, Carney. Not only are capital
gains rates available to everyone on their investment income, including Grandma,
Grandpa, and retired Aunt Fanny. Unless the law has changed recently, someone
with very little ordinary income -- your "poor folks" -- also pay a
lower capital gains rate than someone in a higher income tax bracket!
Re: Arm of Orion | 7:38 a.m. Jan. 18, 2012 "Was he dodging on his
taxes? Did his people find a new loophole for him to work with?"You can't bet your very last dollar that the IRS examines his tax returns. To
refresh the memories of the liberals among us it was Timothy Geithner that had
to pay his back taxes before his nomination as U.S. Treasury Secretary was
Re: JoeBlow | 8:15 a.m. Jan. 18, 2012 "My point is that only the rich
can make MONEY off of MONEY"It is all a matter of budgeting.
Michael Jackson proved that you can always spend more money than you make if you
really put your mind to it. The secret that applies to EVERYBODY both rich and
poor is to save some of what you earn and put it into the bank. If you can't
afford a cell phone, TV, stereo, or ski boat ...... don't buy them on credit.Romney had tax accountants determine what he owed .... and then he paid
That's 15% on dividends, not salary. Dividend taxes were made lower than income
taxes to spur investment, and it works. It should not be changed.What's too high is income taxes.I wouldn't want to release my
income tax statements, would you? It's rather a big bit of private information
to make public, and I would not care if any political candidate kept it
private.Now if Obama were so open and transparent, he'd release his
college transcripts like previous presidents and candidates have done.
"what do you have to hide?"Obama has released hit tax
returns going back to 2000.Additionally, he has released his returns
each year he has been in the White House.Pretty easy to find if one
looks.Kind of like the Birth Certificate.
Since everyone is in defense of Romney on these posts for the most part, I'll go
the other way and ask the question that most want to ask of Obama about certain
issues: Why not release your tax statements; what do you have to hide?Frankly, I could care less one way or the other, but it needed to be said!
Arm writes "However since his income is capital gains all of a
sudden that 15% is legal and no real undermining of the campaign."I fully understand that. Romney has done nothing wrong.My point
is that only the rich can make MONEY off of MONEY.Virtually no poor do and
only some middle class.Can you explain why the guy who has
investment income should pay less than the guy who earns a paycheck?Can you justify that the CEO making $30 million can structure his pay so that
his tax rate on much of his earnings is only 15% while those that work for him
pay a higher %?Why is that money taxed at 15% vs 35%?Could it be that these tax advantages are what is causing the countries wealth
to be disproportionately collected at the top?This is my problem
with the GOP taxing structure. It tilts the playing field and we are seeing the
Chris BI have learned about this stuff my whole life from my
parents. Whenever I have thought about paying higher taxes because you make
more it infuriates me. I am 24 and I pay 15% as well. I have never
realized it the way you said it above. One should pay for what he uses, not what
he makes. Thank you for giving me another analogy that makes sense. If Buffett and Gates and Obama, Reid, Pelosi and the like think it is so
unfair that they don't pay more taxes than here is a suggestion for them: Write
a check for more than you owe and send it to the IRS. Nobody is stopping you.
If you feel you are cheating people, then go ahead and do it. But nobody is
going to pay more than they have to, it's that simple.
Joe the title of the article is "Romney says he pays about 15 percent in
income tax." Clearly you can see the distinction when Romney's income comes
from Capital Gains not income as the article's title implies. Here though is why
it is important. If Romney's money came from traditional income he would be
somewhere in the 20-30% range. So if he only paid 15% where did all the other
money go? Was he dodging on his taxes? Did his people find a new loophole for
him to work with? All questions that could undermine the campaign wouldn't you
agree.However since his income is capital gains all of a sudden that
15% is legal and no real undermining of the campaign. That is the importance and
distinction that needs to be made clear which the article touched on and the
title of the article completely ignored.
In 2006 Buffett paid 17.7 percent in taxes on the $46 million he booked that
year. Romney paid what the tax laws require and shouldn't be expected to pay
one penny more.
"The difference is his income comes from capital gains, which is 15%.
"OK, as if that is of major distinction to that average
American.And if Cain had his way with the 999 plan, Romney would pay
close to ZERO.The system is skewed towards those who have money.I don't blame Romney for paying what the law says. But I do blame the
GOP for wanting to lower the taxes for those who are collecting more and more of
the wealth.And to Worf, Yes, Obama pays taxes on his vacation money.
Did you ask the same thing about Bush?Minor issues. Does this keep
you up at night?
Does Obama pay taxes on his vacation money?
No big deal. Much of Mitt's income is tied to dividends and investments. This is
taxed at a lesser rate to avoid double taxation, where the Corporation is taxed,
and then the owners (shareholders) get taxed again on their income, so the tax
rate on investments is less than income tax.
The title is wrong he does not pay 15% income tax he pays 15% of his income to
tax. The difference is his income comes from capital gains, which is 15%. Nice
try though AP at getting your attention grabbing false headline.
Romney should challenge that everyone running for office or in office do
likewise. Then too would it not be interesting to learn how these career reps
and senators become multi-millionairs while doing the 'peoples business'?
Romney pays what the Congress passed laws require him to do so. Are we looking
for someone who pays more taxes than the laws require? Issues like felons
voting, taxes paid and negative ads are so irrelevent compared to the question
of who has the proven leadership and organizational skills to lead this country.
And all this emphasis on people losing their jobs if their companies were owned
by Bain. Why doesn't someone ask Perry how many jobs will be lost if he
disbands the Education, Commerce and whatever the Opps department of the
government is? Changes made to reduce the government will cost hundreds of
thousands of jobs. Compare that with 1,700 jobs lost from a Bain company
closing. Folks we need to be discussing real issues in these debates. I want a
president who is a winner and knows how to make things happen. Romney ought to
tell the rivals, I will stop telling the truth about you if you will stop
telling the lies about me.
I think I'm responsible for what I USE.I think you are response for
what you USE.Even if Romney paid 1% in income tax, he'd still be
paying far more than you and I.He is paying way more that what he
USES.When I go to buy a car, why doesn't the car dealership total
the cost of my car and all other cars bought that day, then collect our income
information and only charge me half of what my car costs and charge the guy who
makes more than me the cost of his car plus half of the cost of my car?The percentage is IRrelevant. He's likely paying hundreds of
thousands in taxes every single year.When Romney drives on the road
does his car do infinitely more damage than my car does, and therefore he should
pay much more than me to fix the road?No.Let us all pay
for what we USE
So we're back to...so what? Should we join the chorus of democrats and make fun
of rich people?