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Thread: Romney Pays TOO much in Tax

  1. #1
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    Romney Pays TOO much in Tax

    Apparently after Mitt relaesed his 2011 taxes the Dems are still complaining.
    They say he could have paid LESS in taxes but did not include all the deductions he could have. "He paid more tax than he should have for political purposes". Paid more and the flamers still complain.
    Plus his accounting firm issued an affadavit certifying he has paid at least 13% over the past 20 years. As usual harry Reid is full of BS.
    Romney does not have a job. No salary means lower tax rates. He has money invested elsewhere which is declared, but so does Obama. He also has his money handled by experts like most smarter people who can afford it do.
    If he releases another return, more nonsense fom the sissies at the WH. He has money - get over it. Jealousy abounds.

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    Why are work and capital gains taxed at a different rate?

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    Quote Originally Posted by SafetyBlitz View Post
    Why are work and capital gains taxed at a different rate?
    They have been since I filed my first tax return well over 40 years ago.
    I do not know when the trend started BUT, since the democrats were in control of Congress for the better part of the first 70 years of the last century I believe they set it up.
    The theory being that INVESTED capital is instrumental to building business.
    That being the case, Romney and others are following tax law.

    I did not look at Romney's return to see the particulars but he would probably have some investments in tax free instruments. I have a six figure income from that area alone and pay zero taxes on those dividends. I am contributing to the building of bridges, roads, hospitals and school dormitories. For that I get a tax benefit. A win/win.

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    Quote Originally Posted by SafetyBlitz View Post
    Why are work and capital gains taxed at a different rate?
    To spur private investment, which is ideal for an economy. This is why Obama is pushing to tax capital gains to 45% (or wherever, it's a massive hike).

    He's destroying the middle class, foreign policy has gone to sh*t in days (this what you get for faith in Islamic rebels ... duh), and gets no help from the economic at all.

    When people say it's a wonder the race is close (most often the people saying this are Obama partisans trying to segue into Romney-bashing) I maintain that it isn't.

    Most polling (done by the same parent companies whose reporters, again, will turn the murder of an ambassador in Libya into a scathing indictment of Romney's Twitter etiquette) under samples black people. Black people will not vote at record levels for a disastrous president, but the polls are adjusted to say they will, at 2008 levels. Once again, black people being taken advantage of ... by their self-proclaimed champions, the liberal media.

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    Quote Originally Posted by sackdance View Post
    To spur private investment, which is ideal for an economy. This is why Obama is pushing to tax capital gains to 45% (or wherever, it's a massive hike).

    He's destroying the middle class, foreign policy has gone to sh*t in days (this what you get for faith in Islamic rebels ... duh), and gets no help from the economic at all.

    When people say it's a wonder the race is close (most often the people saying this are Obama partisans trying to segue into Romney-bashing) I maintain that it isn't.

    Most polling (done by the same parent companies whose reporters, again, will turn the murder of an ambassador in Libya into a scathing indictment of Romney's Twitter etiquette) under samples black people. Black people will not vote at record levels for a disastrous president, but the polls are adjusted to say they will, at 2008 levels. Once again, black people being taken advantage of ... by their self-proclaimed champions, the liberal media.
    Yea I'm not sure bout that 45% figure... but how would raising the Capital gains tax "destroy the middle class"?

    And have you noticed the middle class has been struggling for three and a half decades now? Since supply-side economics we've seen massive gains for the elite, while the middle class' share has shrunk (and the middle class itself has shrunk).

    On foreign policy, check Doggin's thread on Libya.

    Investment should not be considered any better or worse than work. Why not tax them the same?

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    Quote Originally Posted by SafetyBlitz View Post
    Yea I'm not sure bout that 45% figure... but how would raising the Capital gains tax "destroy the middle class"?

    And have you noticed the middle class has been struggling for three and a half decades now? Since supply-side economics we've seen massive gains for the elite, while the middle class' share has shrunk (and the middle class itself has shrunk).

    On foreign policy, check Doggin's thread on Libya.

    Investment should not be considered any better or worse than work. Why not tax them the same?
    Some may be struggling. I'm not. My friends aren't. We work. Or worked.
    I think I am in the middle class. The top 1% have assets of $16+ mill. Top 2% - half that. Not quite there so that means middle class.
    If people (like me) don't invest, nothing gets done. Companies can't grow - no jobs.
    The 45% Obama wants is base rate of 39.6% PLUS medicare tax of around 4% on invested income. Around 44%. All so welfare queens and illegal aliens can get booze and drugs. And manufacture more future criminals.

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    Quote Originally Posted by palmetto defender View Post
    Some may be struggling. I'm not. My friends aren't. We work. Or worked.
    I mean, this is what sets me off. As if everyone who hasn't enjoyed the same success that you or your friends had/have don't work or don't work hard enough.

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    Quote Originally Posted by SafetyBlitz View Post
    I mean, this is what sets me off. As if everyone who hasn't enjoyed the same success that you or your friends had/have don't work or don't work hard enough.

    You need not have the SAME level of success as I have had to be successsful. If you work hard (and smart) you will be successful. I define success as being absolutely self sufficient.
    There are those who I know who have chosen to work harder than I have and they have been rewarded a great deal more trhan I have. I feel no jealousy. I admire them for their efforts.
    Conversely, if a person has failed because of lack of effort or by making POOR DECISIONS (bad education effort, drug abuse, bad spending), why should I feel sorry for them, or better still, assist them.
    There is no disparity. Everyone has an equal chance.

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    Quote Originally Posted by sackdance View Post
    To spur private investment, which is ideal for an economy. This is why Obama is pushing to tax capital gains to 45% (or wherever, it's a massive hike).

    He's destroying the middle class, foreign policy has gone to sh*t in days (this what you get for faith in Islamic rebels ... duh), and gets no help from the economic at all.

    When people say it's a wonder the race is close (most often the people saying this are Obama partisans trying to segue into Romney-bashing) I maintain that it isn't.

    Most polling (done by the same parent companies whose reporters, again, will turn the murder of an ambassador in Libya into a scathing indictment of Romney's Twitter etiquette) under samples black people. Black people will not vote at record levels for a disastrous president, but the polls are adjusted to say they will, at 2008 levels. Once again, black people being taken advantage of ... by their self-proclaimed champions, the liberal media.
    You think undersampling black people means the polls are skewed towards Obama?

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    Quote Originally Posted by doggin94it View Post
    You think undersampling black people means the polls are skewed towards Obama?
    If the polling is based on 2008 voting percentages (i.e. record turnout amongst blacks), then a current undersampling of blacks could hide that turnout will not, in fact, be record again, or that voting % (also a record for Obama) aongst blacks will not be a record again.

    Not saying I agree, but the math is sound if the premise (polling based on 2008 turnout and racial %) is correct. I do not know one way or the other if it is.

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