Willard M. Romney - 15%

[Tigermike 3,657]

BTW.....most people who earned the money to invest paid 32% of income tax on it the first time before paying another 15% off the returns of the money gained through investing it. Therefore, it's more than likely that Romney paid twice in taxes on the money he used.

Not necessarily, particularly for private equity funds and hedge funds. The carried interest provision (tax loophole) allows the managers of the fund to be compensated with a profits interest in the fund ... resulting in the bulk of its income from the fund to be taxed not as compensation for services (ordinary income) but as a return on investment.

And this is the very likely the scenario for Romney as he built his wealth these past few decades. In short, he's been paying no more than 15% on his income. Again, I bet you and most wage earners pay a higher rate...

Don't you see that the answer is to close the loopholes? Demonize the lawmakers who come up with the rules, not the people who follow the stupid rules.

You are asking that of a guy who saw no problem with then Senator Obama writing in earmarks for the hospital where his wife worked. Still saw no problem when she got a big fat raise out of the deal.

[channonc 466]

BTW.....most people who earned the money to invest paid 32% of income tax on it the first time before paying another 15% off the returns of the money gained through investing it. Therefore, it's more than likely that Romney paid twice in taxes on the money he used.

Not necessarily, particularly for private equity funds and hedge funds. The carried interest provision (tax loophole) allows the managers of the fund to be compensated with a profits interest in the fund ... resulting in the bulk of its income from the fund to be taxed not as compensation for services (ordinary income) but as a return on investment.

And this is the very likely the scenario for Romney as he built his wealth these past few decades. In short, he's been paying no more than 15% on his income. Again, I bet you and most wage earners pay a higher rate...

Don't you see that the answer is to close the loopholes? Demonize the lawmakers who come up with the rules, not the people who follow the stupid rules.

I'm all for closing the loopholes and treating all income (including capital gains) as income. The problem here is the fact that Romney has said that any tax reform which raises taxes (which is what "closing loopholes" will do) is off the table. His view, "millionaires already pay their fare share". That cuts against those of us trying to survive in the middle... that, I have a big problem with.

[Justin5 20]

To me this is an excellent speech that clearly outlines the presidents agenda. The main part I am referring to starts at about the 4 minute mark.

He's talking about unfettered capitalism with zero regulations. You want that?

[Tigermike 3,657]

To me this is an excellent speech that clearly outlines the presidents agenda. The main part I am referring to starts at about the 4 minute mark.

He's talking about unfettered capitalism with zero regulations. You want that?

"Of all tyrannies a tyranny sincerely exercised for the good

of its victim may be the most oppressive. It may be better to live

under robber barons than under omnipotent moral busybodies.

The robber baron’s cruelty may sometimes sleep, his cupidity may

at some point be satiated, but those who torment us for our own good

will torment us without end for they do so with the approval

of their own conscience." C. S. Lewis

[Justin5 20]

I mean I understand that is your position, but CS Lewis isnt some legendary person. He was an ok children's author. I thought his books were ok in middle school.

[The Freak 2,537]

I mean I understand that is your position, but CS Lewis isnt some legendary person. He was an ok children's author. I thought his books were ok in middle school.

He wrote much more than the Narnia series.

[Tigermike 3,657]

I mean I understand that is your position, but CS Lewis isnt some legendary person. He was an ok children's author. I thought his books were ok in middle school.

And his books will be long remembered when "Dreams of my father" is no longer thought of as a classic.

[Justin5 20]

I mean I understand that is your position, but CS Lewis isnt some legendary person. He was an ok children's author. I thought his books were ok in middle school.

He wrote much more than the Narnia series.

I'm aware of that.

[Grumps 3,706]

To me this is an excellent speech that clearly outlines the presidents agenda. The main part I am referring to starts at about the 4 minute mark.

He's talking about unfettered capitalism with zero regulations. You want that?

And you are basing this on....??

[Justin5 20]

His policies as president - like the lowest tax rates in 80 years.

Why, what are you basing it on? What you want to read into it?

[Grumps 3,706]

His policies as president - like the lowest tax rates in 80 years.

Why, what are you basing it on? What you want to read into it?

I was basing my opinion on the words that cam out of his mouth. So are you saying that Obama has lowered the tax rate during his presidency?

[Justin5 20]

His policies as president - like the lowest tax rates in 80 years.

Why, what are you basing it on? What you want to read into it?

I was basing my opinion on the words that cam out of his mouth. So are you saying that Obama has lowered the tax rate during his presidency?

He has lowered the effective tax rate, yes.

[Tigermike 3,657]

His policies as president - like the lowest tax rates in 80 years.

Why, what are you basing it on? What you want to read into it?

I was basing my opinion on the words that cam out of his mouth. So are you saying that Obama has lowered the tax rate during his presidency?

He has lowered the effective tax rate, yes.

So on one hand you guys are bragging about Obama lowering the effective tax rate and vilifying Mitt Romney for having a low effective tax rate. Too fricking funny.

[Justin5 20]

His policies as president - like the lowest tax rates in 80 years.

Why, what are you basing it on? What you want to read into it?

I was basing my opinion on the words that cam out of his mouth. So are you saying that Obama has lowered the tax rate during his presidency?

He has lowered the effective tax rate, yes.

So on one hand you guys are bragging about Obama lowering the effective tax rate and vilifying Mitt Romney for having a low effective tax rate. Too fricking funny.

I disagree with Obama's decision to lower the rate, however I was asked to provide evidence that Obama is a capitalist. Not sure what you find funny, unless you missed some of it.

[Tigermike 3,657]

His policies as president - like the lowest tax rates in 80 years.

Why, what are you basing it on? What you want to read into it?

I was basing my opinion on the words that cam out of his mouth. So are you saying that Obama has lowered the tax rate during his presidency?

He has lowered the effective tax rate, yes.

So on one hand you guys are bragging about Obama lowering the effective tax rate and vilifying Mitt Romney for having a low effective tax rate. Too fricking funny.

I disagree with Obama's decision to lower the rate, however I was asked to provide evidence that Obama is a capitalist. Not sure what you find funny, unless you missed some of it.

I find it funny considering his war on capitalism, that you call Obama a capitalist.

I have a couple of questions for you. How much did the DNC and or George Soros pay the organizers of the OWS to start their little sit in? Are the organizers in other cities being paid as well?

[arnaldoabru 11]

His policies as president - like the lowest tax rates in 80 years.

Why, what are you basing it on? What you want to read into it?

I was basing my opinion on the words that cam out of his mouth. So are you saying that Obama has lowered the tax rate during his presidency?

He has lowered the effective tax rate, yes.

So on one hand you guys are bragging about Obama lowering the effective tax rate and vilifying Mitt Romney for having a low effective tax rate. Too fricking funny.

I disagree with Obama's decision to lower the rate, however I was asked to provide evidence that Obama is a capitalist. Not sure what you find funny, unless you missed some of it.

I find it funny considering his war on capitalism, that you call Obama a capitalist.

I have a couple of questions for you. How much did the DNC and or George Soros pay the organizers of the OWS to start their little sit in? Are the organizers in other cities being paid as well?

Don't know,ask Freedomworks how it is done

[Tigermike 3,657]

His policies as president - like the lowest tax rates in 80 years.

Why, what are you basing it on? What you want to read into it?

I was basing my opinion on the words that cam out of his mouth. So are you saying that Obama has lowered the tax rate during his presidency?

He has lowered the effective tax rate, yes.

So on one hand you guys are bragging about Obama lowering the effective tax rate and vilifying Mitt Romney for having a low effective tax rate. Too fricking funny.

I disagree with Obama's decision to lower the rate, however I was asked to provide evidence that Obama is a capitalist. Not sure what you find funny, unless you missed some of it.

I find it funny considering his war on capitalism, that you call Obama a capitalist.

I have a couple of questions for you. How much did the DNC and or George Soros pay the organizers of the OWS to start their little sit in? Are the organizers in other cities being paid as well?

Don't know,ask Freedomworks how it is done

I don't think Freedomworks would have anything to do with the socialist/communist/anarchist/DNC AstroTurf bunch who dominate the OWS.

[RunInRed 18,113]

Saw this coming and yes, I have a problem with it...

Mitt Romney's tax rate is less than 15% despite earning $42.5 million

Republican presidential candidate Mitt Romney released tax records on Tuesday indicating he is paying $6.2 million in taxes on a total of $42.5 million in income over the years 2010 and 2011.

Bowing to increasing political pressure to provide more detail about his vast wealth, the former private equity executive released tax returns indicating he and his wife, Ann, paid an effective tax rate of 13.9 percent in 2010. They expect to pay a 15.4 percent rate when they file their returns for 2011.

...

Romney's holdings include an undisclosed amount in funds based in the Grand Cayman Islands and other overseas entities.

Romney advisers stressed that the holdings in the Caymans - along with those in a Swiss bank account that was closed in 2010 after an investment adviser decided it could be politically embarrassing to Romney - were reported on tax returns and were not vehicles to avoid taxes.

[Grumps 3,706]

Saw this coming and yes, I have a problem with it...

Mitt Romney's tax rate is less than 15% despite earning $42.5 million

Republican presidential candidate Mitt Romney released tax records on Tuesday indicating he is paying $6.2 million in taxes on a total of $42.5 million in income over the years 2010 and 2011.

Bowing to increasing political pressure to provide more detail about his vast wealth, the former private equity executive released tax returns indicating he and his wife, Ann, paid an effective tax rate of 13.9 percent in 2010. They expect to pay a 15.4 percent rate when they file their returns for 2011.

...

Romney's holdings include an undisclosed amount in funds based in the Grand Cayman Islands and other overseas entities.

Romney advisers stressed that the holdings in the Caymans - along with those in a Swiss bank account that was closed in 2010 after an investment adviser decided it could be politically embarrassing to Romney - were reported on tax returns and were not vehicles to avoid taxes.

Of course you have a problem with it. You probably think that Romney, as Governor of Mass., coerced lawmakers to change the tax code for him. CLEARLY, Romney should volunteer to pay additional taxes like all of the rich democrats do, just so that they will have the satisfaction of paying their fair share.

[autigeremt 7,133]

Saw this coming and yes, I have a problem with it...

Mitt Romney's tax rate is less than 15% despite earning $42.5 million

Republican presidential candidate Mitt Romney released tax records on Tuesday indicating he is paying $6.2 million in taxes on a total of $42.5 million in income over the years 2010 and 2011.

Bowing to increasing political pressure to provide more detail about his vast wealth, the former private equity executive released tax returns indicating he and his wife, Ann, paid an effective tax rate of 13.9 percent in 2010. They expect to pay a 15.4 percent rate when they file their returns for 2011.

...

Romney's holdings include an undisclosed amount in funds based in the Grand Cayman Islands and other overseas entities.

Romney advisers stressed that the holdings in the Caymans - along with those in a Swiss bank account that was closed in 2010 after an investment adviser decided it could be politically embarrassing to Romney - were reported on tax returns and were not vehicles to avoid taxes.

Democrats had a super majority for two years and did................NOTHING ABOUT IT!

If you have a "problem" with it, you need to back someone who wants a flat tax or fair tax, because Democrats in general only use this as a political football.

[autigeremt 7,133]

His policies as president - like the lowest tax rates in 80 years.

Why, what are you basing it on? What you want to read into it?

I was basing my opinion on the words that cam out of his mouth. So are you saying that Obama has lowered the tax rate during his presidency?

He has lowered the effective tax rate, yes.

So on one hand you guys are bragging about Obama lowering the effective tax rate and vilifying Mitt Romney for having a low effective tax rate. Too fricking funny.

I disagree with Obama's decision to lower the rate, however I was asked to provide evidence that Obama is a capitalist. Not sure what you find funny, unless you missed some of it.

Obama does just enough to get people like you to agree with the statement. There's very little free market coming from this adminstration. This is a regulatory and fee machine driven to set up his buddies and that's IT!

[BamaGrad03 0]

Romney gave 4.5 million to charity last year.

[Grumps 3,706]

Romney gave 4.5 million to charity last year.

Exactly! He had so much money that he had enough to give to charity, the bastard! That money should have gone to the government as tax revenue!

[Grumps 3,706]

Romney paid $6.2 million in taxes over two years and almost half of Americans paid none. The half that paid no taxes almost certainly used roads and bridges, and enjoyed police and fire protection. And yet many of you think Romney is the one that did not pay his fair share. The mind is a truly fascinating thing!

[RunInRed 18,113]

The bottom line is Mitt Romney has extraordinarily benefitted from an unfair tax code and the clincher: he wants to make it even more unfair. And you can bet your ass this will be a central issue in the general election come fall.