Ask Me Help Desk - Romney and taxes..

Romney and taxes..

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?

Quote:

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?

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

Quote:

Originally Posted by tomder55

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

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

Quote:

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

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

Quote:

Originally Posted by tomder55

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

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

Quote:

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

"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 .

Tom you have missed the debate, the question isn't whether Romney pays a lesser tax rate than any other candidate, but whether he pays a fair share of tax relative to others. You see Tom he is proposing tax cuts from which he will benefit so he is fair game. Romney might benefit from charitable donations, but he might also benefit from offshore accounts, where as those whose support he seeks cannot do what he does.

We have seen your views Tom you would impose a tax on lower income people they are not subject to now, not a good look

Ryan to Ohio Woman Re Welfare: "Teach a man to fish & you feed him for a lifetime. Don't feed fish." - Democratic Underground

Great advice!!

Quote:

Originally Posted by paraclete

Tom you have missed the debate, the question isn't whether Romney pays a lesser tax rate than any other candidate, but whether he pays a fair share of tax relative to others. You see Tom he is proposing tax cuts from which he will benefit so he is fair game. Romney might benefit from charitable donations, but he might also benefit from offshore accounts, where as those whose support he seeks cannot do what he does.

We have seen your views Tom you would impose a tax on lower income people they are not subject to now, not a good look

He has less than 1 % of his assets in foreign accounts. I bring up the comparison because the Dems didn't get their panties in a wad over Kerry's effective tax rate ;or the fact that the Kennedy family had most of their money in foreign accounts.

Hey Tom I know how to fish, do you, I know what a spade is for, what an axe is for, do you?You want to argue whether various candidates have a tax bill what I say is show me whether they can get their hands dirty. Someone wants to say I pay tax, I support charities, what I say is how much did it hurt, did it stop you eating?

You want to say he only has a small percentage in offshore accounts and I say why does he have any, and how much did he have over time? The issue isn't the degree but the question of substance over form. Why should the Dems question their own candidates, that is your job. But you didn't think of it, did you?

I see nothing particularly wrong with having money overseas. It's his property . If he or anyone else can get a better deal then why not ? Did he violate any laws ? No . Therefore he paid his share under our system. Want to change it ? Fine... a flat tax is the trick .

Hello again, tom:

I agree with you... I see nothing particularly wrong about having money in the Caymans. But, the average American taxpayer DOES. It's NOT a matter of whether he cheated or not.. It's a matter of whether it LOOKS like he cheated, and it does. Personally, I think avoiding taxes is a very patriotic thing to do... Evidently Romney thinks so too.

But, again, tom, it's the PERCEPTION that counts - NOT the reality...

For me, it's deeper than that, though. If he DIDN'T know how the average American taxpayer views tax havens, then he SHOULD have. That's a fatal error.. It shows that he's out of touch with the common man... He had PLENTY of time to rectify it. He didn't... It doesn't matter HOW much money he made or how many jobs he created/shipped off. It LOOKS like he cheated on his taxes, and people don't like that.

excon

Quote:

Originally Posted by talaniman

Ryan to Ohio Woman Re Welfare: "Teach a man to fish & you feed him for a lifetime. Don't feed fish." - Democratic Underground

Great advice!!!!

"the zombie-eyed granny-starver from space?"

Yeah, your side is all about peace, love and bringing Americans together. At least Ryan knows how many states are in the republic.

What does don't feed the fish mean to a person who works two jobs and still needs welfare?

How can it be in the land of opportunity that you could work two jobs and still need welfare.
A in this time when jobs are scarse, how do you get two jobs?
B. if you have an income why do you need welfare?

This statement, as Tal implies, means there is something wrong with the system

Good tag team action ! Tal constucts the strawman and Clete knocks it down

Hey, I just quoted the your guy and wanted a translation as to what the hell he was talking about. You don't know either huh?

Quote:

Originally Posted by tomder55

good tag team action ! Tal constucts the strawman and Clete knocks it down

Tom, you obviously believe in not feeding the fish. I think it is code.

Tut

Even Jesse Jackson understood it . He often quoted this famous proverb . "Give a man a fish, you feed him for a day. Teach a man to fish and you feed him for a lifetime."
What progressives believe is that if a man won't fish for himself ;give him food stamps for fish.

Quote:

Originally Posted by tomder55

What progressives believe is that if a man won't fish for himself ;give him food stamps for fish.

Yes, that's EXACTLY what progressives (whatever they are) think. You nailed it!!

Quote:

Originally Posted by tomder55

What progressives believe is that if a man won't fish for himself ;give him food stamps for fish.

Hello again, tom:

It IS true... The 47% are moochers. It's ALSO true, that THAT idea will be discarded into the dustbin of history when your party is PURGED of that kind of out of step thinking... That'll happen AFTER being defeated in the LANDSLIDE that awaits you.

excon

Quote:

Originally Posted by talaniman

Hey, I just quoted the your guy and wanted a translation as to what the hell he was talking about. You don't know either huh?

At least he can speak without a teleprompter.

Quote:

Originally Posted by speechlesstx

At least he can speak without a teleprompter.

Hello again, Steve:

And he'll be welcome on the has been circuit after he's defeated in the landslide that awaits him.

Bwa, ha ha ha.

excon

Quote:

Originally Posted by speechlesstx

At least he can speak without a teleprompter.

Romney uses teleprompters.. a lot.

romney teleprompter - Google Search

Quote:

Originally Posted by NeedKarma

Romney uses teleprompters.. a lot.

romney teleprompter - Google Search

I'm sure they all do, but I was referring to Ryan. Try to keep up.

Quote:

Originally Posted by speechlesstx

I'm sure they all do, but I was referring to Ryan. Try to keep up.

Oh, so your comment is really irrelevant if they all do.