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ORIGINAL: subrob1967

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ORIGINAL: DomKen

The only tax he pays on cap gains is the cap gains tax. It is new money he didn't have before. It is no different than regular income.

And it's quite obvious you don't know or understand the difference between earned and unearned income... Under your rules SSDI and SS should be taxed as regular income too.

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ORIGINAL: cloudboy

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Ok cloud, it's amazing that you seem to turn a blind eye to the taxes Romney paid on his money before he invested it and it earned him a capital gain. So not only did he pay the same rate you do initially, the government then charged him on the gains his money made... So he's been taxed twice on the same income... Does that seem fair to you?

Are you saying that if I make $50M in after tax income -- that all Capital gains I receive from that nut should thereafter go untaxed?

The problem with Romney's low tax rate is two-fold: (1) lower income people have to pay the difference, and this decreases consumer demand and weakens our economy which is demand driven; (2) Romney is not creating any jobs with his Capital gains. He is not investing in America, he is reaping returns from the global economy. Not only is he not creating any jobs, but by keeping all that money tied up, he is not adding to consumer demand either.

Its truly hard for me to see the upside of his low tax rate, especially when my own tax rate is 45%.

Last thing, Romney never paid my tax rate, b/c at Bain Capital they declare most of their income as capital gains.

It looks to me that your strong ideological bias prevents you from seeing plain reality (right here), and you have not connected the dots that all these tax breaks for the rich have not helped further develop the US economy or nation. Lax regulation and low taxes from 2002 - 2008 led to what in 2008?

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ORIGINAL: Arturas

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ORIGINAL: seekingOwnertoo

Hmm, seems Mitt Romney released his tax returns ... and generously paid 13% of his multi-million dollar income in taxes.

Of course .. He did NOT take all his deductions! Because he wanted to keep his tax rate where he said it would be!

ROFL ROFL ROFL

Of course, i pay 20% in taxes on my seemingly poverty level income.

In the 1980's ... Mitt Romney would have paid 70% of his income in taxes, no questions asked.
I
What is wrong with politics today, when people struggling to make a living, pay MORE (percentage wise) than multi-millionaires?

And why do we get bamboozled by politicians claiming reducing taxes fixes the economy?

Because clearly, we are all WORSE OFF, then the 1980's!

I don't know where to start with this. There is so much parroted leftist propaganda in this it would lift a sunken ship off the bottom of the deepest sea with all this hot air.

The tax code is designed to reward anyone who builds a business (and therefore employs people) and those who give to charity and those who invest in certain businesses the government deems important to the nation. The tax code also helps out when investors lose money in a failed business and Romney does not just make money on job building businesses, he also loses lots of money. Therefore, Romney pays less taxes because he invested more in America and risked more of his money in businesses needed by this country and more of his money, percentagewise, in charities than you did.

If he paid the same rate in taxes you and I did he would not be investing and and providing jobs and we would be the loser on that deal.

Jeeze.

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ORIGINAL: atursvcMaam

Make more money, get a great accountant and give more to charity than you pay in taxes. That worked back in the 80's too. Looks like he gave 20 to 30 % to the mormons. Would not have been my choice, but when last I checked that was quite legal. Ignoring the taxable percentages he still gave the government an amount I could live on for a few years.

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ORIGINAL: seekingOwnertoo

Hmm, seems Mitt Romney released his tax returns ... and generously paid 13% of his multi-million dollar income in taxes.

Of course .. He did NOT take all his deductions! Because he wanted to keep his tax rate where he said it would be!

ROFL ROFL ROFL

Of course, i pay 20% in taxes on my seemingly poverty level income.

In the 1980's ... Mitt Romney would have paid 70% of his income in taxes, no questions asked.

What is wrong with politics today, when people struggling to make a living, pay MORE (percentage wise) than multi-millionaires?

And why do we get bamboozled by politicians claiming reducing taxes fixes the economy?

Because clearly, we are all WORSE OFF, then the 1980's!

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ORIGINAL: DomKen

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ORIGINAL: LookieNoNookie
Ken, I won't argue with you.

In my opinion, all income should be taxed as "income".

But it's not.

I'd pay a lot more taxes.

I think a valid argument can be made that investments, real investment not just arbitrage, is good for the economy and deserves some tax benefit.

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ORIGINAL: tazzygirl

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ORIGINAL: atursvcMaam

Make more money, get a great accountant and give more to charity than you pay in taxes. That worked back in the 80's too. Looks like he gave 20 to 30 % to the mormons. Would not have been my choice, but when last I checked that was quite legal. Ignoring the taxable percentages he still gave the government an amount I could live on for a few years.

With a net worth of 250 million, 1.6% of his income is just a drop in the bucket.

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Now which party took over Congress in 2007? And which administration has an average 1.3% GDP growth over the last 4 years?

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ORIGINAL: vincentML

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Now which party took over Congress in 2007? And which administration has an average 1.3% GDP growth over the last 4 years?

Precisely what Laws of the Democrat Congress in 2007 caused the economic crash of 2008?
Why shouldn't GWB not be held acountable for the recession?