all done

[JohnnyD]

Originally Posted by RIJIMMY

i dont think he is doing anything shady. I think the public will view him and his tax % as the problem and not the solution.

He has 400x more net worth when compared to the average American household yet pays a lower tax rate. That is what *should* be the typical voter's biggest issue with him. He is completely disassociated from the average American and will never have any perspective on how the economy over the last 8 years has had an effect on the middle-class.

Lobbying and the homogeneous mix of corporate money and politicians is the fuel behind almost all legislation now-a-days - and Romney is the epitome of corporately-driven politics.

[scottw]

Originally Posted by JohnnyD

He has 400x more net worth when compared to the average American household yet pays a lower tax rate.

again, his tax rate is based on his investment income, he doesn't have earned income, he's paying the same rate as other Americans with investment income..if I am wrong please tell me but this doesn't seem complicated...


I think if I were Romney, I'd release the total $$$ figure for Federal Taxes that I'd paid during my working years and up through present, I imagine that's quite a tidy sum... and then ask if I'd paid "my fair share" and helped fund the Federal Government and all of its programs to an acceptable level through working my fair share of hours, creating my fair share of jobs, investing in my fair share of businesses and reinvesting my fair share of what was left after paying my fair share into the economy to create businesses and jobs and then ask the other candidates if their record of investment in America, in other Americans and the economy can compare..... Haven't heard anyone say what he's done illegally or unethically regarding his income or taxes or buisness ventures but for some reason he's guilty for being successful...I can't think of any major(or minor) scandals while he was governor or at any of the various ventures that he's been part of which all seem to have been highly successful....

also....he should release the total $$$ amount in charitable donations that he's been fortunate to be able to make during the same period as a result of his success

and then challenge the other candidates and the current occupant to show us how they've contributed to the same, how much...and how much as a result of private sector work and your own money vs. the perks of winning an election...I guess if it comes down to hiring someone that is going to invest your money wisely and make good decisions with it for the next 4 years...Mitt looks pretty attractive versus the others

Obama can't even produce a budget on time and thanks to the senate dems we haven't had one in a very long time

[justplugit]

Originally Posted by scottw

also....he should release the total $$$ amount in charitable donations that he's been fortunate to be able to make during the same period as a result of his success

Ya, Romney's charitable giving was $3 million on his 2010 return.

LMAO, the great liberal who's liberalism declares you "really care
about the have nots", Joe Biden's charitable giving when he released his tax return
was $350 dollars.

Good hearted Joe, last of the big givers.

[zimmy]

Originally Posted by justplugit

Ya, Romney's charitable giving was $3 million on his 2010 return.

LMAO, the great liberal who's liberalism declares you "really care
about the have nots", Joe Biden's charitable giving when he released his tax return
was $350 dollars.

Good hearted Joe, last of the big givers.

Romney is mormon. It was a tithe. Not that there is anything wrong with that. Nothing wrong either with questioning a tax system that taxes income from working at a higher rate than income from investments.

[justplugit]

Originally Posted by zimmy

Nothing wrong either with questioning a tax system that taxes income from working at a higher rate than income from investments.

I agree, however the reasoning in this case is sound.
As you prolly know, dollars, already taxed at income levels, are invested in stock that gives capital to companies to hopefully expand and hire more employees.

The lower tax rate on possible gains is an incentive to invest.

Govt. does pretty good, double taxation with the 15% after the investor takes all the risks.

[zimmy]

Originally Posted by justplugit

I agree, however the reasoning in this case is sound.
As you prolly know, dollars, already taxed at income levels, are invested in stock that gives capital to companies to hopefully expand and hire more employees.

The lower tax rate on possible gains is an incentive to invest.

Govt. does pretty good, double taxation with the 15% after the investor takes all the risks.

Yes, but income is income. The incentive is to make money from investment as opposed to making money from labor or services. The incentive to invest (lower rate) is a subsidy. If a person making 100,000 was taxed at a lower rate, they would have more money to invest. It is like saying the investment in a company by a millionaire is a more valuable use of money than a middle class person paying for their kids college. Whether a person makes their money from risk or not is irrelevant. Every business is risk. It is not double taxation. You invest $100 and make $10, you are only taxed on the $10.. You have $10 income taxed at 15%. Or in many cases millions of dollars income taxed at 15%

[justplugit]

Originally Posted by zimmy

Yes, but income is income. The incentive is to make money from investment as opposed to making money from labor or services. The incentive to invest (lower rate) is a subsidy. If a person making 100,000 was taxed at a lower rate, they would have more money to invest. It is like saying the investment in a company by a millionaire is a more valuable use of money than a middle class person paying for their kids college. Whether a person makes their money from risk or not is irrelevant. Every business is risk. It is not double taxation. You invest $100 and make $10, you are only taxed on the $10.. You have $10 income taxed at 15%. Or in many cases millions of dollars income taxed at 15%

I see your point.
I believe the incentive of the capital gains tax code at a lower rate was to give
incentive to invest long term in our capitalistic system.
Short term gains are taxable a much higher rate as the $$ aren't staying to help growth. Just my simplistic way of looking at it.

Your right, every business is a risk and toget investors $$$ there has to be
incentive for return.
If your labor produces $100 it is taxed at $25. Tax #1. Take the $75 left
and invest it and your taxed again on any gains at 15%. Tax#2.
However you look at it,the Govt. wins twice on your Labor/ Investment.