Reply With QuoteI support much of the GOP's agenda - except for the taxation madness. These aren't the times for tax goodies for the benefit of high earners and the rich. In none of the G8 nations.
Romney Would Pay 0.82 Percent in Taxes Under Paul Ryans Plan
Mitt Romney Would Pay 0.82 Percent in Taxes Under Paul Ryan's Plan
Under Paul Ryan's plan, Mitt Romney wouldn't pay any taxes for the next ten years -- or any of the years after that. Now, do I know that that's true. Yes, I'm certain.
Well, maybe not quite nothing.
In 2010 -- the only year we have seen a full return from him -- Romney would have paid an effective tax rate of around 0.82 percent under the Ryan plan, rather than the 13.9 percent he actually did. How would someone with more than $21 million in taxable income pay so little? Well, the vast majority of Romney's income came from capital gains, interest, and dividends. And Ryan wants to eliminate all taxes on capital gains, interest and dividends.
Romney, of course, criticized this idea when Newt Gingrich proposed it back in January by pointing out that zeroing out taxes on savings and investment would mean zeroing out his own taxes.[...]
http://www.theatlantic.com/business/...s-plan/261027/
I support much of the GOP's agenda - except for the taxation madness. These aren't the times for tax goodies for the benefit of high earners and the rich. In none of the G8 nations.
The Repubs advocate low capital gains taxes, and Romney would pay little because most of his earnings are capital gains, not income. If you are for our insanely high capital gains taxes (among the highest in the world), then do not come crying to us when you sell a piece of property or a stock and the government takes nearly 40% of the profit from you right off the top.
Capital gains taxes are lower because we want to encourage investment. Companies sell stock to raise money to make things and give people JOBS. However, because this is often risky as in you can lose all or most of your money, the reward is higher. Now, when you're done bitching about Romney's fvcking taxes and rearranging the deck chairs on the Titanic, maybe we could have some discussion about REAL problems.Originally Posted by Lov3ll
Now consider how the headline "Mitt Romney Would Pay 0.82 Percent in Taxes Under Paul Ryan's Plan" would sound to Voter Joe the taxpayer, who's earning $40,000 a year and paying a 20% tax rate on it. Whether it's legal (for the previous accusations) or a proposed plan (in this case) the idea that the super rich pay such a negligable rate of tax is quite a turn off for many voters. He may be an economic genius who can fix all the worlds problems in a single term, but if he's not popular enough to get elected as a result of things like this it's irrelevant.
We're back to Mittins Taxes again? Who cares.
http://nation.foxnews.com/mitt-romne...romney-gave-15
Romney, that greedy bastard. Gave away his inheritance too, what scum.
Don't you worry about me, pal. Me and my fellow countrymen pay 52% of our yearly income to the treasury and pensions office.
And I did get the GOP's plans right - but I still can't see the legitimation for a taxation model nearing a capital income exemption. It's not going to encourage investment. People who make a living off capital gains won't want to step into the breach and act as a stimulus proxy, they will want to earn money and act accordingly... even to the national economy's detriment.Good God that's a new low.Someone with more (more more more) money has more to give, too. How does that mean the person with less to give is more greedy?! Besides, it's most telling that the article compares two donation histories which lie over half a decade apart.
My question to this is: Who makes his income from capital gains and who from hard work? Who benefits from this? Who represents the majority of the electorate?
As far as I can tell this is the Actual Plan :
http://budget.house.gov/uploadedfile...perity2013.pdf
Anything you sell and make a profit on (outside of a business) is 'capital gains'. So if you sell your house and make a profit, that is capital gains, and you would be taxed on it here at a very high rate. Same if you sold a stock for a profit, or bought some gold coins and sold them at a profit.
----------Workers, some of which also get income from capital gains..... and who from hard work?
----------From what? The proposed capital gains tax cut? Everyone, since it would promote investment which creates more jobs and wealth. And, of course, anyone earning capital gains income.Who benefits from this?
----------The same person who represents the minority of the electorate, and everyone else. The guy who wins the election and becomes our elected representative.Who represents the majority of the electorate?
I'm sick and tired of arguing over who should pay what. I wish more people would be outraged at the very idea of an income tax. Or an annual property tax.
Capital gains winners? Well, pension funds invested in the market (Unions, Gov. Employees, private business), University endowments invested in the market, global economies invested in the market. Hardly anyone. It's a useless exercise in class warfare for Obama because he can't talk about his miserable record in office.
what does that have to do with anything?
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