Hello again,

I can't find the thread where we were discussing Romney and his taxes, so I thought I'd start another one...

He's FOOLING you, and you're BUYING it... He SAYS capital gains taxes should be eliminated because the capital was ALREADY taxed at the 35% corporate rate. He said that on 60 minutes. I heard him. He's said it before... Right wingers help SPREAD the lie.

Here's the deal. It AIN'T difficult... IF Romney had NOTHING in his account at the beginning of the year, and he EARNED, let's say $50,000, it would have been taxed WHEN he earned it. Now, lets say he put that $50 K into a CD that pays 10% a year... That means he's going to have $5,000 MORE dollars at the end of the year than he STARTED with, and THAT $5,000 has NOT been taxed AT All, no matter HOW many times Romney says it was.

It's simple ARITHMETIC. As we learned during the DNC, the Republicans are mathematically deficient. Fortunately, I'm here to SAVE the world from Romney, so I thought you should know...

You're WELCOME.

excon

So you're buying into Harry Reid's denial, eh? I don't know all that much about financial bean counting but I do believe capital gains are a whole different banana than "interest income" from a CD. No?

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Originally Posted by speechlesstx

I don't know all that much about financial bean counting but I do believe capital gains are a whole different banana than "interest income" from a CD. No?

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Hello again, Steve:

Interest income CAN be capital gains, but I should have used a better example... Let's say he took the $50,000 and bought stock, and the stock increased in value by 10%, and he sells the stock, THAT is the capital gain, and THAT gain has NOT been taxed, as Romney would have you believe.

Look... If he wants to lower the capital gains taxes because he believes they stymie investment, then let him SAY so. But, I'm not keen on him LYING about it. Are you?

excon

Yeah let's disuade people from investing by taxing them more ! Good plan

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Originally Posted by tomder55

yeah let's disuade people from investing by taxing them more ! good plan

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Hello tom:

So, you don't want to talk about the lie. I don't blame you. If my guy LIED like that, I'd try to change the subject too.

excon

I think all taxes are double taxed since the income tax became the law of the land . Sales tax is double tax etc. The problem is not the Cap gains rate or the sales tax rates ;it's income taxes that are the problem. But that's just me and my 19th century thinking again.

I have to agree with tom, shocker I know, but I think you'd be hard pressed to find a dollar that hasn't already been taxed to death. I bet you're going to jump on the Hillary global tax on the wealthy bandwagon, aren't you?

Wait until the Obots introduce a VAT if we are unfortunate to have them around a 2nd term.

what is it you don't understand about income, profits and gains. If you buy property and you later sell it at a profit you have a capital gain, if you invest your money in interest bearing securities and earn interest you have earned income, if you sell those securities at a profit you have a capital gain, if you are paid salary, wages or bonuses you have income.

Someone thought it was a good idea these situations should attract a different rate of tax, some silly argument about personal exertion which is really a way of saying if there is sweat attached then we will tax it more, Along the way someone got the idea there was income that isn't being taxed and so you have sales tax. If it moves tax it, if it stands still tax it, if it dies tax it. What part of this equation don't you understand

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Originally Posted by paraclete

what is it you don't understand about income, profits and gains. If you buy property and you later sell it at a profit you have a capital gain, if you invest your money in interest bearing securities and earn interest you have earned income, if you sell those securities at a profit you have a capital gain, if you are paid salary, wages or bonuses you have income.

Someone thought it was a good idea these situations should attract a different rate of tax, some silly argument about personal exertion which is really a way of saying if there is sweat attached then we will tax it more, Along the way someone got the idea there was income that isn't being taxed and so you have sales tax. If it moves tax it, if it stands still tax it, if it dies tax it. What part of this equation don't you understand

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The part where you don't think it needs to change.

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Originally Posted by tomder55

wait until the Obots introduce a VAT if we are unfortunate to have them around a 2nd term.

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Hello again, tom:

Is that before, or after he rounds up all the guns?

Bwa, ha ha ha.

excon

It isn't me that floated the balloon.
Obama: Value-added tax a 'novel' idea for the U.S. - The Hill's Blog Briefing Room
Obama: VAT May Be A Revenue Option, Spending Cuts First (VIDEO)

What's wrong with this picture?

A rich guy who hides money, and doesn't take all his deductions because it would look bad for a guy making 13 million to to be paying 10% in taxes and is planning on getting even a bigger cut and want to be president and set tax policy the whole country?

And you claim your NOT loony??

What's wrong with this picture, criticizing a guy for being successful and not taking all the deductions available while paying nearly 40 percent of his AGI over 20 years in taxes and charitable contributions? Not to mention all those times he sacrificed personally for friends, neighbors, veterans...

Sounds good on paper, but why not answer questions and explain a few things like UBS?

2011 UBS rogue trader scandal - Wikipedia, the free encyclopedia

UBS Tax Scandal: Romney?s tax dodging exposed? // Current TV

Come on man, hiding money in the Caymans and Switzerland is a classic dope dealer move, and wouldn't you want to know all about his money before you elected him? About his dealings with Cnooc?

http://en.wikipedia.org/wiki/China_N...il_Corporation

I mean you tell me how you get a hundred million in an IRA that has a max contribution limit of $5000?

IRA Contribution Limits 2011

I fail to see how the Wikipedia article has any relevance and crap manufactured in the Current community is hardly a source of reliable info. A better question is why no one is the least bit curious about digging into Obama bundler Jon Corzine's role in the missing $1.2 BILLION in investor funds.

Fine with me, but grab Anne too!

Romney's Wife Had $3 Million in Secret Swiss Bank Account Through 2010; Not Reported in Federal Disclosure Forms naked capitalism

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Originally Posted by talaniman

Fine with me, but grab Anne too!!

Romney’s Wife Had $3 Million in Secret Swiss Bank Account Through 2010; Not Reported in Federal Disclosure Forms naked capitalism

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"A campaign spokeswoman said Thursday that Romney will file amendments to both his 2007 and 2011 financial disclosures to correctly identify the bank account."

Well there you go. Happy?

You do remember how many Obama nominees and other Democrats like good ol' Charlie Rangel had tax issues. Just like Ron Kirk, Hilda Solis, Tom Daschle, Nancy Killefer and of course the guy running the Treasury of all things, Timothy Geithner.

Eric Cantor said it best a few years back, "It’s easier for the other side to advocate for higher taxes because you know what? They don’t pay ‘em.”

Your side just doesn't like successful Republicans, you're just fine with your own über-wealthy, greedy, tax dodging sleaze bags.

Tax Topics - Topic 409 Capital Gains and Losses

Considering that Romney doesn't have close to the combines wealth of the Kerry /Heinz fortune ;I find the hypocrisy here amazing . The Heinz fortune alone was over a half billion dollars . Kerry's returns revealed that he paid a slightly lower effective rate than the Romneys .I never heard the left accuse him of being a greedy bass turd . I guess that's because he was so willing to contribute other peoples money to charity . He certainly didn't pay charity himself. 2 of the 5 years he released had zero charitible contributions . Kerry's 1991–1995 charitable contributions were ($0, $820, $175, $2039, $0), less than one-half of one percent of his
Income for the period. In contrast, George W. Bush gave($28,236, $31,914, $31,292) in 1991–1993. The President's effective tax rate is slightly over 20 % .But he gave less that 1% is charity .