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ORIGINAL: LookieNoNookie

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ORIGINAL: stef

Finally, all the questions will be answered.

http://www.romneytaxplan.com/

Cute.

Here's the facts.

You can't know the facts until you're privy to them.

Everyone's hyper focused on "how can you possibly lower rates by 20% and still pay the bills?"

I'm no genius but, the math is fairly simple:

He said he's going to lower rates while "not affecting how the upper tax paying group (I'm paraphrasing) impacts taxable revenues".

And....he said he's going to eliminate deductions across all spectrum's.

Consider:

You have $50,000.00 income, your mortgage is maybe 12% of your taxable net and deductibles.

Someone with 2 million in income, but his or her mortgage reflects about 4% of their income....lessening the mortgage deduction impacts everyone's income equally (simple math) but as a percentage....the person who makes shitloads has more taxable income thereafter, ergo....the guy that makes a bunch will ACTUALLY pay more in the end, even with lower rates.

Romney's not a moron...as some would like to believe, and Obama is most assuredly someone who would like to see EVERYONE pay more.

(Personally, I'd prefer the rates rise 3% across the board but that every Congressman sign some kind of Grover Norquist agreement that, for every 1 dollar raised, 5 has to be cut....but....THAT ain't gonna fucking happen).

Now, it's more than factual that the wealthy have been paying a substantially larger amount of the total share every year since Reagan, and with Romney's plan that will actually increase but....Romney knows how to pay bills on time.

Don't you think it's about time we do so?

You do....don't you?

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ORIGINAL: epiphiny43

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ORIGINAL: LookieNoNookie

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ORIGINAL: epiphiny43

IF they have been paying more, it's due to the massive concentration of wealth currently in the US. Which is now a more top loaded ownership nation than many South American countries, something inconceivable till the Bush years. What isn't true is that the wealthy are paying anything close to the Percentage of income the middle class is. Particularly that vital entrepreneurial/professional class who are getting hammered by the 'minimum tax' that keeps having it's lower edge moved down as a hidden tax Congress prefers to actually telling people it's affecting. These are the real water carriers and precisely those worst affected by the proposals those complaining about general tax rates are actually targeting. It only takes a few super rich to pay nothing to throw a massive load to those lower on the food chain who have little influence over policy as their campaign contributions can be obtained by smoke and mirrors. The really rich have accountants to tell them who their bread is buttered by. I see the coming debate a test of Obama's ability to make this obvious to the targets of the actual policies the Republicans are pushing. No defense cuts and no new taxes on the 'rain makers' leaves One tax payer of any capability, the middle and upper middle class. Or, printing lots of new money. Somehow it keeps being ignored that tax rates Were considerably higher (Particularly for the rich and those on investments subject to capital gains.) during all the prosperous periods since WWII, and we did well actually paying for the necessary government to run the country. The current system is very unbalance towards large interests and multi-nationals with small business carrying a disproportionate load. Car dealers and washerettes can't negotiate with local and state governments for tax breaks nor afford the accountants to play the national taxes to the limit. Lowering capital gains just means Wall Street gets rich off the backs of all the smaller producers who actually deliver added value or services, and are the employers of America.

Does it actually matter why the wealthy pay more?

It debates the issue that so many others claim herein that they don't.

It's fact...and yes you can look it up....honestly, it's not all that terribly complicated to do so.

I'm well aware of the tax statistics. Wealthy PEOPLE pay a lot of tax. Almost none pay a tax RATE as high as any employed middle income worker with no hidden income. And certainly less than a well to do entrepreneur or small business owner without exceptional writeoffs. The inequality is that those who benefit the most from the current tax and business regulatory system (Which they are largely responsible for lobbying into place) pay the least proportionate amount of their income. I'm not thinking the almost confiscatory UK system is any answer but actual equality of rate for those who are making more money than a human is capable of spending in a lifetime would seem fair?

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Here's a really great question: Why should anyone pay any more than anyone else?

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ORIGINAL: mnottertail

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Here's a really great question: Why should anyone pay any more than anyone else?

Because some use massively disproportionate greater amounts of government entitlements than others. Corporations, by example. The rich, by example.