His rate is less than what my wife and I have to pay. I guess if his rate was raised to 20% he would just quit what he was doing out of frustration and take a job that paid as low as mine which is only somewhere over 22.75 million less than he made last year. And who could blame him if he did? :roll:
Oooohhh you hate him because he's rich.. his income is not taxed as ordinary income because it isn't....it's dividends and capital gains. I will let the economists debate the wisdom of appropriate tax rates on dividends and capital gains....but... What does that have to do about anything other than point out the fact that he paid ALL his taxes and paid them ALL on time...the first time. Unlike some of Obama's cronies. And of course you neglect to mention that he gave more away to charity than he paid in taxes...more than doubling the amount that he gave back to society. It used to be the goal of this country to make more people successful...to let them strive to be successful. Seems as if all we want to do now is throw rocks at those who have done so and bring them down. Sad....really sad.
He paid $3 million in taxes.....he provided charitable organizations with $3 million in contributions to fund good works world-wide. What a cold hearted, capitalist blood sucker only out to better himself and fuel his gluttonous consumption..... Given that almost half of all US citizens pay ZERO federal income taxes and I expect that their support for charitable causes is somewhat less than Romney's as well, as you suggesting that he's not doing his fair share? Not being a good citizen? Seriously?
It is sad Stu, the rhetoric from this administration has reached the point where our society is starting to demonize success......I can conceive of fewer more destructive end products of this administration.
From 2008 t0 2010 the party of integrity, the Democrats controled the House, had a filibuster proof Senate and the White House. NOTHING was done to change tax rates. Romney paid what they allowed him to pay. Guess it's too bad that they were drafting and passing a health care bill that the majority of the country didn't want and may be struck down as unconstitutional. By the way, Romney's income comes from return on money he is left with after taxes that is invested. He could lose on his investment in which case he could deduct up to $3,000 in any one year. He's taxed on this money he puts at risk at the capital gains rate. So the money was taxed when he first earned it, taxed again after he invested it again, and will be taxed when he dies. And out there will be the oppressed crying that he isn't taxed enough. "I won't allow the half of Americans who pay no taxes to bear the burden of the other half who aren't paying their fair share."
.....and his share of the earnings from the company's in which he has an interest is also taxed prior to his receipt in the form of dividends at which point it is taxed yet again......shame on him for not paying his fair share. Another bizarre point is that Romney's tax liability is reduced in part by the extraordinary amount of funding for charitable organizations. The very notion that his money would be better served by sending a check to Washington and watch good money go down the bureaucratic sh!thole that is DC rather than going directly to fund charitable works is staggering. There is no rational argument that I can conceive that would suggest his investment to fund the layers of bureaucrats DC is more beneficial than his charitable works, but the lib/dems will go to unimaginable lengths to spin it in a negative light...... watch.
Good point. Obama would invest that money in incredibly successful business ventures such as Solyndra. :roll:
MCG, I believe that he paid 14% of his total income in taxes. Sounds to me like you are talking about your marginal rate not the percentage of your total income you paid. If you did pay that high t sounds to me like you probably don't have any deductions. I believe you are comparing apples and kumquats. But I could be wrong.
MCG's opening comments represent the epitome of ignorance that has fomented the so-called class divisiveness in the country. The willful ignorance of the far left is responsible for this problem. It's evident to me that they slept through math class. How stupid is it to focus on the net rate and not on the $ paid? If each middle class taxpayer averaged as much as $100,000 and paid 20% of that amount in income tax, it would take 150 taxpayers to equal what Romney paid. Even if their average earnings were less, say $80,000, and their net tax rate was higher, say 25%, it still would take 150 taxpayers to equal the taxes paid by Romney. As TOK said above.......sigh...... :roll:
Is this not the second time Romney paid tax on the same money? he is originally taxed on income like the rest of us slobs and then he gets to pay capital gains as well on the same buck. I'm still waiting for MCG to visit any Occupy America Freeloaders camp site and find me one employer or one philanthropist :lol:
Same here Bill and this year it will be slightly more because now I am a renter and no longer a homeowner thanks to the wonderful equity of zero dollars I was able to get from selling the home in March 2010 that was in a nice neighborhood and that I owned for 18 years. Yeah....I blame Obama for that one too.....hell he had a whole year to get that equity back where it should have been. And my original point about Romney is that he makes over 22.75 million more than I....and yet pays the same or less % of his total in income tax than I.....but I am to understand from the right that if he had to kick in a few more percent as a very wealthy American to help stave off our budget crisis that he would just throw in the towel.....say screw it and take a menial low paying job because of the fruitlessness of it all. So preposterous.......
I'm no expert on taxes and certainly not on Dave's taxes...but isn't that 14% a blended tax rate and comparing it to Dave's marginal tax rate not a apples/oranges comparisson? Wouldn't Dave's blended tax rate be much lower than his marginal rate?
Romney pays the same rate (or higher) as the rest of us. That tax was paid on capital gains...if it was salary or interest Romney's rate would be higher than the rest of us. Class warfare folks like Dave want to conveniently ignore this...they want him to pay some penalty just for being wealthy...a "wealth tax"...if you will... Just take money from them because they have it. They can spare it. I need it. Waa, waa. I dunno...when I was in my formative years that was called stealing.
News Flash; John Kerry paid 13.1% of his income in taxes the year he ran for President. I don't recall the left making an issue out of that? He did give 11% of his income to charity.
Such ********.....and it's a big reason I don't post on this board much. This relates to the question of what should be done when the budget balancing crap gets started all over again in a few weeks. We either leave revenue increases alone when it comes to taxes or we take more from whom? Those who can barely afford it or those that have it? If your answer is never from those that have it then the answer is we never ever increase revenues from taxes and we cut cut and cut until there is nothing left and we have an impoverished brutal country more behind amongst civilized nations than we already are......but with a small segment of very rich....very well off citizens becoming more wealthy as the days go by. The wealth gap in this country is already larger than at any time in our history and the middle class is ever shrinking. Those facts mean something to me......maybe not you.
That 13.9% number is the tax paid on gross earnings as I read it. Does it seem like the guy making $50,000/year is the one we should go after to increase revenues from taxes? Bolster social security perhaps? At the least that doesn't seem feasible to me if not unfair to the average Joe American.
Why didn't the Dems raise taxes on the rich when they had control of congress and the White House? For once answer that question. :evil: And if you're a middle class family making $60,000 here's what you're missing making much less http://www.zerohedge.com/article/entitlement-america-head-household-making-minimum-wage-has-more-disposable-income-family-mak