The Political Fray - Political Forum
Go Back   Political Fray > The Political Fray > Government and Politics

Government and Politics Government and Politics Forum including laws, elections, government structure, and political theory


Reply
 
LinkBack Thread Tools Display Modes
Old January 23rd, 2012, 01:56 PM   #1
Representative
 
Joined: Oct 2011
Posts: 152

Romney pays 15% income tax ... Half of what a working man pays

http://finance.yahoo.com/news/buffet...155000898.html

Last paragraph from above news article.

"He makes his money the same way I make my money," Buffett said. "He makes money by moving around big bucks, not by straining his back or going to work and cleaning toilets or whatever it may be. He makes it shoving around money."

Romney understands the working class
Vote for him !!

Last edited by netanyahoo; January 23rd, 2012 at 02:09 PM. Reason: typos
netanyahoo is offline  
Old January 23rd, 2012, 08:43 PM   #2
Congressional Leader
 
DodgeFB's Avatar
 
Joined: Mar 2009
From: Undisclosed
Posts: 2,751

Quote:
Originally Posted by netanyahoo View Post
http://finance.yahoo.com/news/buffet...155000898.html

Last paragraph from above news article.

"He makes his money the same way I make my money," Buffett said. "He makes money by moving around big bucks, not by straining his back or going to work and cleaning toilets or whatever it may be. He makes it shoving around money."

Romney understands the working class
Vote for him !!
I will if he is the candidate in November. I will hold my nose and vote for anyone other than O'bama.
DodgeFB is offline  
Old January 23rd, 2012, 10:17 PM   #3
Senator
 
Joined: Aug 2011
Posts: 758

Quote:
Originally Posted by netanyahoo View Post
http://finance.yahoo.com/news/buffet...155000898.html

Last paragraph from above news article.

"He makes his money the same way I make my money," Buffett said. "He makes money by moving around big bucks, not by straining his back or going to work and cleaning toilets or whatever it may be. He makes it shoving around money."

Romney understands the working class
Vote for him !!
50% of americans pay NO income tax, including lots of working men.
Patrick is offline  
Old January 24th, 2012, 06:34 AM   #4
Analyst
 
Joined: Aug 2011
Posts: 76

Lots of other taxes

Quote:
Originally Posted by Patrick View Post
50% of americans pay NO income tax, including lots of working men.
What about payroll tax, property tax, sales tax, government fees (i:e, driver's licence), gasoline taxes, park fees, school taxes, school supplies, etcetera? Just because you aren't paying income tax doesn't mean you aren't paying plenty of everyday taxes. That means Romney gets an even bigger break, because he again tends to pay a lower percentage of such taxes (for instance, payroll tax is only up to $100,000 earned per year).
skeptic-f is offline  
Old January 24th, 2012, 08:16 AM   #5
Congressional Leader
 
DodgeFB's Avatar
 
Joined: Mar 2009
From: Undisclosed
Posts: 2,751

Quote:
Originally Posted by skeptic-f View Post
What about payroll tax, property tax, sales tax, government fees (i:e, driver's licence), gasoline taxes, park fees, school taxes, school supplies, etcetera? Just because you aren't paying income tax doesn't mean you aren't paying plenty of everyday taxes. That means Romney gets an even bigger break, because he again tends to pay a lower percentage of such taxes (for instance, payroll tax is only up to $100,000 earned per year).
I agree on that. But some of Romney's money comes from money he already paid tax on when he made it. Even ol Newt don't want Romney paying more tax.
DodgeFB is offline  
Old January 24th, 2012, 08:46 AM   #6
myp
Founding Father
 
myp's Avatar
 
Joined: Jan 2009
From: US
Posts: 5,841

Quote:
Originally Posted by Patrick View Post
50% of americans pay NO income tax, including lots of working men.
The overall tax as a percentage of all gains is still possibly lower on Romney than the 50% you speak of.
myp is offline  
Old January 24th, 2012, 07:11 PM   #7
Senator
 
Joined: Aug 2011
Posts: 758

Quote:
Originally Posted by skeptic-f View Post
What about payroll tax, property tax, sales tax, government fees (i:e, driver's licence), gasoline taxes, park fees, school taxes, school supplies, etcetera? Just because you aren't paying income tax doesn't mean you aren't paying plenty of everyday taxes. That means Romney gets an even bigger break, because he again tends to pay a lower percentage of such taxes (for instance, payroll tax is only up to $100,000 earned per year).
What about all those taxes??? You think government should magically provide schools, police, fire departments, and highways for free? People who have kids in school should be paying ALL the cost of education. In absolute amount, Romney pays a HUGE amount of taxes. Where does this idea come from that the rich should pay a higher percentage? Reduced to its essence, it's "Duhhhhh.......you got a lot of money, and there's things I want but can't pay for, so .......duhhhhhhh.......government should rip you off and give it to me! Duh!"
Patrick is offline  
Old January 24th, 2012, 07:53 PM   #8
myp
Founding Father
 
myp's Avatar
 
Joined: Jan 2009
From: US
Posts: 5,841

Quote:
Originally Posted by Patrick View Post
What about all those taxes??? You think government should magically provide schools, police, fire departments, and highways for free? People who have kids in school should be paying ALL the cost of education. In absolute amount, Romney pays a HUGE amount of taxes. Where does this idea come from that the rich should pay a higher percentage? Reduced to its essence, it's "Duhhhhh.......you got a lot of money, and there's things I want but can't pay for, so .......duhhhhhhh.......government should rip you off and give it to me! Duh!"
Skeptic didn't say those taxes shouldn't exist, you just assumed that. As a percentage, Romney surely pays less than some of the people in that middle or lower income class.

As for the idea of why the rich should pay more (on a marginal basis)- how about the marginal utility of money?
myp is offline  
Old January 24th, 2012, 08:19 PM   #9
Senator
 
Joined: Aug 2011
Posts: 758

Quote:
Originally Posted by myp View Post
Skeptic didn't say those taxes shouldn't exist, you just assumed that.
I DIDN'T assume that. I took issue with his (apparent) gripe that people who aren't rich still have to pay some kinds of taxes.

Quote:
As a percentage, Romney surely pays less than some of the people in that middle or lower income class.
That's debateable, because apparently his income is investment income, most of which is taxed twice - at the corporate level and the investor level - people "forget" about the "twice". Also, I asked why should rich people pay a higher percentage? People repeat that like some sort of religious mantra.

Quote:
As for the idea of why the rich should pay more (on a marginal basis)- how about the marginal utility of money?
How about it??
Patrick is offline  
Old January 24th, 2012, 08:45 PM   #10
myp
Founding Father
 
myp's Avatar
 
Joined: Jan 2009
From: US
Posts: 5,841

Quote:
Originally Posted by Patrick View Post
That's debateable, because apparently his income is investment income, most of which is taxed twice - at the corporate level and the investor level - people "forget" about the "twice".
Romney does not pay both ends. Also, the taxed twice thing is a matter of perspective. If you hire a contractor to work on your house, the income you use was already taxed and the income he makes is also taxed. Some might say that is the same thing. Either way, Romney himself is not paying double.

Quote:
Originally Posted by Patrick View Post
Also, I asked why should rich people pay a higher percentage? People repeat that like some sort of religious mantra.
Maybe you should stop repeating all of your arguments for everything like religious mantra. Why should they not pay a higher percentage? I already gave you a reason for why they should- the marginal utility of money.
myp is offline  
Old January 25th, 2012, 02:23 PM   #11
Representative
 
Joined: Oct 2011
Posts: 152

They do not earn enough to pay tax - may be ...

Quote:
Originally Posted by Patrick View Post
50% of americans pay NO income tax, including lots of working men.
They do not earn enough to pay tax - may be ...OR cheating on it.
Lesson learnt from Romney:
http://news.yahoo.com/7-reasons-vote...094700884.html

Hide your money in a Swiss bank account, in Luxembourg and the Cayman Islands as Buddy Romney does.
netanyahoo is offline  
Old January 27th, 2012, 08:47 PM   #12
Senator
 
Joined: Aug 2011
Posts: 758

Quote:
Originally Posted by myp View Post
Romney does not pay both ends. Also, the taxed twice thing is a matter of perspective. If you hire a contractor to work on your house, the income you use was already taxed and the income he makes is also taxed. Some might say that is the same thing.
Only if they were imbeciles. The wage income the contractor gets is taxed ONCE. It doesn't affect him in any way that the money somone paid him has already been taxed - he didn't pay that tax. Romney DOES in effect pay tax twice - >>HIS<< returns are diminished twice.
Patrick is offline  
Old January 28th, 2012, 08:06 AM   #13
myp
Founding Father
 
myp's Avatar
 
Joined: Jan 2009
From: US
Posts: 5,841

Quote:
Originally Posted by Patrick View Post
Romney DOES in effect pay tax twice - >>HIS<< returns are diminished twice.
No he does not. How do you figure?
myp is offline  
Reply

  Political Fray > The Political Fray > Government and Politics

Tags
15% , half , income , man , pays , romney , romnry , tax , working



Thread Tools
Display Modes


Similar Threads
Thread Thread Starter Forum Replies Last Post
Global fraud study by Ernst and Young: Corruption still pays (unfortunately) myp Current Events 0 June 17th, 2012 07:01 PM
Obama paid less income tax than Romney myp Current Events 14 April 25th, 2012 09:25 AM
Post: #1 Thanks to US Tax System! Obama pays 20% but you and I pay 30%Do you really k maheenangel74 Current Events 2 April 17th, 2012 01:02 PM
How to Cut Child Poverty in Half. Supposn Economics 11 August 16th, 2011 03:38 AM
Obama wants to cut the budget in half by 2013 myp Current Events 4 February 22nd, 2009 12:22 PM


Facebook Twitter RSS Feed



Copyright © 2009-2013 Political Fray. All rights reserved.