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How do you feel about Romney paying so little tax on his income, should the rich have to pay what you pay?

Christian 2012/09/21 18:26:48

Republican presidential candidate Mitt Romney has released his full 2011
federal income tax returns, fulfilling a commitment he made earlier this year.


Brad Walt, the trustee of the Romney’s blind trust, said the Romneys paid
$1,935,708 in 2011 taxes on $13,696,951 in income. He said the Romneys’
effective tax rate for 2011 was 14.1%.


Also in the release, Walt said that during the 20-year period between
1990-2009, the Romneys paid an average federal tax rate of 20.2%.


In January, Romney released a summary of his 2011 taxes. In it, he and his
wife, Ann, originally said they filed a joint 1040 reporting a joint income of
$21 million and a tax bill of $3.2 million.

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  • 3414503 2012/09/22 04:14:36
  • mimi 2012/09/21 20:19:40
    mimi
    +1
    I have worked for an accounting firm. Romney took the same advantages of the tax code as anyone who makes a lot of money. Besides, we need those rich folks to create jobs, which is what they will do.
  • BigEyedFish 2012/09/21 20:10:31
    BigEyedFish
    +1
    you do realize that 20% of HIS money is way more than 20% of yours is, right?

    And Forbes went over Romney's taxes that were previously released and said that the actual rate was 30%
    They paid corp and private level taxes on their overseas investments.
    The Romney's have shown complete morally and ethical tax returns,
  • les_gvt 2012/09/21 19:42:25
    les_gvt
    +1
    if we had a flat 8% tax, this would be a moot point- as everyone would pay the same rate regardless of income
  • Just me ♥ les_gvt 2012/09/21 23:01:16
    Just me ♥
    +1
    I think that flat tax is unfair to the poor. If your bills are the exact same as mine, and I make the exact amount a year as what our bills are and you make $10,000 per year more than me and you pay 8%, you still have money leftover to put into savings and after I pay my 8%, I'm in the hole. So then I'm reduced to watering down my children's milk for their morning cereal, skipping a few pills per month on each of my Rxs, wearing the same pair of pants 3X per wk without washing them, buying dented canned vegetables risking botulism, turning down the thermostat to 50 degrees during the winter risking pneuomonia, or not turning on my AC at all in the summer risking heat stroke all just to break even the following year.
  • les_gvt Just me ♥ 2012/09/22 05:43:25
    les_gvt
    +1
    The point is- if you are taxed at the same rate it increases the incentive to go make more because you know you are keeping the same 92%. Having been a restaurant manager with many single moms, I am fully aware of how many people make only x amount to ensure they do not start having to actually pay taxes, or get their entitlements cut..

    When you have people that have an actual bring home of 94% of their paycheck at $400/wk but at $401 they only bring home 84%, they lose money from $401 to $440- and if they know they are only going to make $430, where is the incentive to make the extra $30? at 8%, they would still see an additional $24 benefit. By having the tax kick in at $401, you are encouraging them to make less.

    Same thing happens at $200k year, unless you are going to increase your pay to $250k, where is the incentive to make more? because you actually lose money
  • Picasso's Cat 2012/09/21 19:19:08
    Picasso's Cat
    +1
    That's why a flat tax has been voted down every time, because the wealthy don't want to have to pay as much as you and I do.
    And they never will because they rule America, not the people who foot the bill!

    Both democrat and republican leadership don't want a flat tax.
    All citizens may have been created equal by their creator, but they sure as hell don't pay the same taxes, now do they????

    Only the Green Party want's a flat tax for everyone, across the board.
    But industry would lose money in a flax tax situation, and industry operates the democratic and republican system we have in America.
    So get use to paying more than the rich people who seem to also be smarter than you are!

    fools who follow fools are the dummest people
  • Studied Picasso... 2012/09/21 19:58:29
    Studied
    +1
    The Green party is a formally organized political party in nearly 90 countries around the world and is based on the principles of Green politics, such as social justice, grassroots democracy, nonviolence, and environmentalism. Greens believe that these issues are inherently related to one another as a foundation for world peace. Green party platforms typically embrace social-democratic economic policies and forming coalitions with leftists. This is what else the Green Party represents.
  • Picasso... Studied 2012/09/22 13:09:18
    Picasso's Cat
    +1
    Hmmmmmmm.............You say that like it's a bad thing!

    The Green Party advocates direct democracy as a response to local needs and issues where all concerned citizens can discuss and decide questions that immediately affect their lives, such as land use, parks, schools and community services.
    The Green Party would decentralize many state and federal functions to the county and city level and seek expanded oversight and decision-making power of local governing bodies, such as neighborhood boards and associations, over issues that pertain to their jurisdiction. In their own communities, by the people who live in that community, not people in washington D.C.
    The Green Party wants to take America back to it's roots to when America started where all Americans had a word in all matters through local government.
    The creation of a federal government in one location (Washington D.C) was the start of the end, it took powers away from local communities and gave those powers to people who did not even live in those communities.
    And you have what we have now, total chaos compared to what we did have.
    You happy with that my friend?????
  • Sgt Major B 2012/09/21 18:42:57
    Sgt Major B
    +3
    The bulk of Romney's taxes are on capital gains, which is taxed at a lower rate than wages, salaries, and tips. You want the lower tax rate? Save and invest. Takes time, but you can get there, too.

    What won't get you a lower tax rate is envious sniveling and whining about another's lot in life.
  • Christian Sgt Maj... 2012/09/21 18:47:52
    Christian
    When I used to get a 10 grand commission check, they took 4000 in taxes, sometimes more, and I could not get back a dime, why is it different for the rich? This country is its own worst enemy, when a rich person murders someone, they get off, when they rape a girl, they get off, when they pay less taxes, its ok. Stupid if you ask me.
  • Turings... Christian 2012/09/21 18:54:30
    TuringsChild
    +1
    It's different because investment income is DIFFERENT from commission income. If you don't like it, invest more.
  • Christian Turings... 2012/09/21 18:58:59
    Christian
    What about his regular income? I have paid a huge amount of taxes in my life and friends of mine have paid way more then me and they are unemployed and living on their mothers couch now. They should get back every dime they paid in tax, if the rich are paying so little. Their are people in federal prison right now for paying so little in taxes, I am not an enemy of Romney in any way, but it infuriates me to see the rich pay less when I worked so hard and had to pay so much more.
  • Turings... Christian 2012/09/21 19:02:08
    TuringsChild
    +1
    I don't like Romney either. But he is playing by the rules. If that's not good enough, work to change the rules.
  • Studied Christian 2012/09/21 19:55:39
    Studied
    Every one has a choice on how they want to spend their own money and if they choose to spend instead of save, that is their problem, not someone elses. You should not be jealous of others success. In America I was always taught to cheer the successful people. Without them there would be no money for all the benefits many others enjoy.
  • Sgt Maj... Christian 2012/09/21 18:57:42
    Sgt Major B
    +2
    Because it isn't (Lemme spell this out s - l - o - w - l - y) c - a - p - i - t - a - l g - a - i - n - s.

    Your streak of envy is appalling. You don't like the current tax system? Pay attention when you cast your ballot and choose someone that supports your position. At every opportunity, advocate vociferously in the public forum for those policies you believe in. Run for office!

    Whinin', snivelin', bitchin', pissin' and moanin' on Sodahead isn't the answer
  • Christian Sgt Maj... 2012/09/21 19:00:03
    Christian
    +1
    Eat my ass, its my opinion.
  • Sgt Maj... Christian 2012/09/21 20:37:08 (edited)
    Sgt Major B
    Well, kiss a fat baby's ass yourself. As we all know, opinions are like certain body orifices: everybody's got one, they're all different, and some stink. Like I said, whinin' like a little girl isn't the solution.
  • Yuffie ♫ K-POP Dance Guru 2012/09/21 18:40:58
    Yuffie ♫ K-POP Dance Guru
    +2
    He paid his fair share.
  • Rustie 2012/09/21 18:39:08
    Rustie
    +2
    He paid what the tax code implemented by the IRS and Congress put in place said he owed.
    If it's not enough, then Obama hasn't paid his "fair share" either.
  • Jessie M 2012/09/21 18:36:20
    Jessie M
    +4
    He paid exactly what he owed. To those who fault Romney paying approximately 14% tax, so did Obama, Reid and Pelosi.
  • Christian Jessie M 2012/09/21 18:37:25
    Christian
    How do you feel about rich people paying less tax then you?
  • Jessie M Christian 2012/09/21 18:45:02
    Jessie M
    +1
    I am sorry, I paid $3, 230,200 less than Romney paid. So how could he have paid less than I?
  • Christian Jessie M 2012/09/21 18:52:42
    Christian
    When I was a salesmen, I would get commission checks for 10 thousand sometimes, they would take as much as $4500 in taxes because I was single, and I couldn't get that money back, how is that fair? When Reagan showed his taxes, I remember he paid what we paid. These days the rich get away with murder and we the sucker's allow it.
  • Jessie M Christian 2012/09/21 19:00:50
    Jessie M
    +1
    You see, now you are showing you ignorance. Romney has zero income and live off the money his saving /investments make. Yet you liberal love to cradle those who pay zero federal income taxes. You argue that they do pay taxes, sale tax, gas tax, and etc.

    Now if you take that very argument and apply it to Romney, I am willing to bet that he spend more money on goods than either you or I. You can argue all you want that he is rich and should pay equal taxes, but you pay no where close to the taxes Romney pays. Come back and argue once you have written a check to the federal government for 3 million.
  • Christian Jessie M 2012/09/21 19:02:46
    Christian
    How can he have zero income? If you had all that and showed zero income, they would be slapping the cuffs on you.
  • Jessie M Christian 2012/09/21 19:17:46
    Jessie M
    You really don't understand taxes do you. You pay a different amount of taxes based on the source of income. Romney does not take any government retirement and no private industry retirement. There for he has zero income.

    Romney lives off of investment income. Do you understand just what that means. Here I will help you understand in simple numbers. If Romney collected let's say $21 million dollars (using 2011 numbers), he paid $3.2 million dollars in Federal Taxes. You following this right. Now Romney turns around and invest $10 million dollars back into the economy. If he only makes $10 million dollars in 2012, he would pay approximately 1.5 million dollars.

    But wait, did he not just pay taxes on the very $10 million dollars the year before, the answer is YES. Now how many times have you paid taxes on the very same money you have made the year before? You get it. You do.


    Now think about this, Romney in 2011 donated over 4 million dollars, Joe Biden gave $300.00, and the Obama's gave $5000.00.

    Joe Biden is not a poor man
    Obama's are not a poor couple.
  • Christian Jessie M 2012/09/21 19:20:54
    Christian
    Interesting.
  • Studied Jessie M 2012/09/21 19:49:54
    Studied
    +1
    Jessie you explained this perfectly and if they cannot understand this, then they probably shouldn't even be voting.
  • Christian Jessie M 2012/09/21 19:03:16 (edited)
    Christian
    Capone went to jail for the EXACT same thing. capone
  • Studied Christian 2012/09/21 19:48:41
    Studied
    100% wrong, Capone went to jail for not paying his IRS taxes. Romney paid that at the time he earned his money. The tax rate he pays now is and Investment tax, actually he is being double taxed. You folks all need to understand this. Obama's claim that he pays less than others is disengenuous.
  • Christian Jessie M 2012/09/21 19:05:55
    Christian
    Romney company is going to China by the way.

    Romney corp. Sensata Tech. is going to CHINA in Freeport long Island and the Americans workers have to train their Chinese replacements! sensata tech
  • Christian Jessie M 2012/09/21 18:54:24
    Christian
    If made 13 million in one year, they would take 4 million. Their are people presently in federal prison for paying less tax.
  • Jessie M Christian 2012/09/21 19:02:24
    Jessie M
    +1
    So you are saying Obama should be in prison. Remember his effective Federal income taxes is only 14%
  • Christian Jessie M 2012/09/21 19:21:45
    Christian
    Throw them all in jail if need be, I don't care.
  • Studied 2012/09/21 18:35:41
    Studied
    +4
    I have no problem with this as his tax rate is not on his wages, he already paid that when he earned the money, This is a tax on investments, actually a double tax, which personally I would like to see totaly done away with. Folks just do not seem to understand the difference here. Comparing IRS tax rates to investment tax rates is like comparing apples to oranges and to claim different is disengenuous.
  • Dagon 2012/09/21 18:35:11
  • Studied Dagon 2012/09/21 19:46:31
    Studied
    +1
    People are upset becuase the president is presenting this by just using the word taxes and failing to show the difference. Most folks cannot even understand the difference. It is really sad.
  • Dagon Studied 2012/09/22 01:39:32

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