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Comments about ‘Mitt Romney releases 2011 taxes; paid $1.9 million on $13.7 million income, a 14.1% effective rate’

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Published: Friday, Sept. 21 2012 1:30 p.m. MDT

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Pippin
Kaysville, UT

I for one am outraged by this revelation. America took $1.9 million from the Romneys in a single year? That is disgraceful!

When did this become acceptable? This is not the motive that emboldened those patriots to part with England. Theirs was a motive of liberty, a motive to be left alone by the government, not pillaged by it. It was a motive to pursue one's own happiness in free trade with his neighbors, not for his neighbors to combine against him to take what's his when he got more than they.

I am tired of being looted and I get taxed at a higher percentage than the R omneys. The solution is NOT to loot my neighbor, the Romneys, to a higher percentage.

The solution is this:

Don't take what's mine. And don't take what's the Romneys'. Make a budget to run the military, the police, and the courts. Tell us what that budget it is. And make a recommendation for what I might contribute. And I'll contribute... happily. I'll bet the Romneys will too. But leave them and me free to make that decision.

liberal larry
salt lake City, utah

I'd sure like to see someone explain how Mitt manages to convert his Bain management fee income into capital gains. I would love to magically transform my rental income into capital gains. Maybe all of us moochers would work a little harder if we didn't have to see the wealthy skate by on questionable tax dodges.

Joey D
WEST VALLEY CITY, UT

In addition to their taxes paid they donated $4,020,772 to charity in 2011, amounting to nearly 30% of their income.

Chris B
Salt Lake City, UT

Let him that paid more than $2 million cast the first stone

TRUTH
Salt Lake City, UT

Liberal Larry? Really???? Its called double taxation! Something you Occupy-Libs wouldn't understand...

no fit in SG
St.George, Utah

This revelation making anyone feel better about the man who hopes to be crowned in November?

LDS Liberal
Farmington, UT

When the 1% own 80% of everything,
the 1% SHOULD being paying 80% of the taxes.

For a middle income person like myself,
who earns 1/235 th as much has poor Mitt, to be required to pay at 2x's the % --
The system is not fair, and is desperately broken!

I also get so angry with the envying working class poor, who worship the wealthy and sit there and defend this disparity thinking it can somehow benefit them.

FYI - this is why the uber-wealthy are against a flat tax.
No more gaming the system in their favor.
But they'll keep telling the poor to win their support
its gonna hurt you, more than it's gonna hurt me.

Wonder
Provo, UT

@Pippin, you're joking, right? You want to run the government on voluntary contributions? And the people who agree with you, are you all serious, too? Unbelievable. Unless you are just joking. Then I like your comment, too.

UtahBlueDevil
Durham, NC

Double taxation.... say what Truth? First, start by learning the facts. Romney takes no Salary. So he couldn't be being double taxed. A lot of executive take little to no actual "income" because it lowers their tax liabilities. Rather, they get paid in options, which when converted, then sold, become long term capital gains not subject to payroll taxes. Double taxation.... good grief, learn how executive compensation really works.

The other important thing to remember is the payroll taxes the average American pays, about 8 percent before income taxes even come even into consideration. Lets say that the average person were able to get the same nominal income tax rate Romney does... 13 percent. The difference would be that Middle Class Mike would pay that 13 percent, plus the 8 percent in Payroll taxes - coming to 21 % of income. Romney doesn't pay payroll taxes so his rate of 13% is just what it is - a minimum of 8 percent less in total tax terms than MCMike.

Chris B.... so your are saying that if you make less than 2 million, you can't cast a stone here? You have no right to complain ? Really?

I M LDS 2
Provo, UT

Pippin,

I guess you never heard of the Constitution?

It gives the Taxation power to Congress...

And most LDS leaders have said it was inspired!

You appear to have a problem with that?

Billy Bob
Salt Lake City, UT

Romney paid all that he is legally liable to pay. Anyone who has a problem with that needs to ask themselves what they would do in that position. Anyone who knowingly pays more taxes than they are legally liable to pay is fooling themselves. It is a shame that Romney had to not claim all of his charitable contributions because of how the liberal main stream media would spin it if (heaven forbid!) Romney paid less than 14% in taxes. By law he is entitled to that deduction. If you don't like it than try to get the law changed, but don't fault Romney for using it as it is intended. Romney paid nearly $2 million in taxes while 47% pay nothing and people have the ignorant audacity to say ROMNEY doesn't pay his fair share???

As for capital gains tax being lower, it only makes sense since that income was already taxed. Also we want to give people incentive to invest, because this helps the economy.

The ignorance of liberals amazes me sometimes.

Romney/Ryan 2012! Get rid of the economy-killing, country-destroying, constitution-ignoring Obama administration!

Al Thepal
Salt Lake City, UT

No fit in SG, yes, as a matter of fact, it does make me feel better about Romney.

Economist
Salt Lake City, UT

I don't know whether to laugh or cry at all of the factual representations or fallacies of logic here:

@Pippin: If the government were to cease and desist from "taking" money from member of our Citizenry, then the opposite should be true for the tax rules that allows Bain Capital (and subsidiaries) to benefit from accounting tricks such as 1.) weighing down newly-acquired companies with collateralized debt, 2.) "carried interest" distributions derived from "sweat equity" at a taxed rate of 15%, 3.) and other perverse tax incentives that compel private Equity Companies like Bain to consolidate assets and homogenize markets.

@Joey D: Your calculations are off: The $4,020,572 must be added back into Romney's AGI to get the percentage donated. The Schedule A Subtracts this amount from his Income, not adds it. So, $4,020,572 / (20,901,075 + 4,020,572) = 16% not 30%

@Chris B: Its not the amount of money that is taxed, but rather the percentage of ones income and the method of producing that income which determines the tax treatment that is important

Listen Guys, I know you love you some Romney, but let's debate with reasoned intellect, shall we?

Chris B
Salt Lake City, UT

LDS lib,

What does ownership have anything to do with it?

Do you teach your kids to pay for what they use? Or only pay for what they want to pay and force others to make up the difference?

When you go to the grocery store, why doesn't the cashier ring up all the purchases of everyone in the store at the same time, and then make everyone pay according to how much money they EARN?

So if you buy $100 worth of goods and I buy $200$ worth of goods but you make twice as much as me you'd be fine with the cashier saying you have to pay $200 and I only pay $100

Pay for what you use.

I'll pay for what I use.

Mitt being rich doesn't mean he's using 1,000 times the resources(defense, police, road repair) as anyone else, so why are people saying he should be paying ten thousand times what they pay?

Chris B
Salt Lake City, UT

Dear Mitt,

I apologize there are so many unresponsible and lazy people that insist you pay for what they use.

Most people who are upset with you are probably paying no more than a few thousand in taxes.

You pay several MILLION.

Several million is much larger than several thousand.

Yet we all use the same police, same military, same schools.

Chris B
Salt Lake City, UT

Question Libs:

If Mitt hadn't worked hard, sacrificed, and made the good decisions that caused him to be rich, who should pay for the $2 million in taxes he otherwise hadn't paid?

Are you suggesting the govt would have spent $2 million less if Mitt hadn't been rich?

Wrong.

The govt would have spent the same, even if Mitt only made $50k.

Who should these costs go to if Mitt wasn't rich?

The next richest guy around?

Pay

for

what

you

USE

Pippin
Kaysville, UT

@Wonder,

Let me reverse your question to you:

Are YOU joking?
You want the government to have power to go to your neighbor and take what's theirs for your benefit?
You want government to come and take what's yours for your neighbor's benefit?
You want the government to take what's yours and give it back to you in a form that they deem most important and useful?
In the absence of taxation, you would not voluntarily contribute funds, if you were able, to finance the military and the police and the courts that ensure your rights to life, liberty, and the pursuit of happiness are not infringed by thugs, goons, and terrorists?

I assure you, I was not joking; I was quite serious. I always am when defending my rights to life, liberty, and the pursuit of happiness.

Kouger
Lehi, UT

In the end, Romney pays more taxes in one year than Obama does in his entire lifetime, (regardless of their earnings, which are each man's own doing). So Obama, now you have more money to REDISTRIBUTE! Stop attacking success!

Happy Valley Heretic
Orem, UT

Billy Bob said: "Romney paid all that he is legally liable to pay. Anyone who has a problem with that needs to ask themselves what they would do in that position. By law he is entitled to that deduction. If you don't like it than try to get the law changed, but don't fault Romney for using it as it is intended.Romney paid nearly $2 million in taxes while 47% pay nothing and people have the ignorant audacity to say ROMNEY doesn't pay his fair share???"

Your right Bob and the 47% who paid no taxes also paid all that they are legally liable to pay.
By law they are entitled to those deductions.
I can't believe the ignorant audacity to claim that the 47% are any different from you or mitt.
If you don't like it than try to get the law changed, but don't fault the 47% for using it as it is intended.

Does the hypocrisy still elude you?

Al Thepal
Salt Lake City, UT

He paid 43.5% of his income in either taxes or Federal income taxes. That is not even counting state income taxes or property taxes. After these taxes he easily paid more than 50% of his income to either charity or one government or another. And people seriously think he pays too
LITTLE? The whole issue with Romney's tax returns does illustrate what is wrong with this country, but Romney is not the problem.

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