Is Romney in fact a tax cheat

  1. You have chosen to ignore posts from AlleyCatBruin. Show AlleyCatBruin's posts

    Re: Is Romney in fact a tax cheat

    In Response to Is Romney in fact a tax cheat:
    You know the righty mantra about Romney having a low tax rate is, "he didn't do anything illegal"?  That might be in doubt. Apparently, Mittens used a very aggressive strategy that may not have been completely legal.  Tax experts are pouring over the 950 pages of Mitt's tax documents from his 2010 return.  Early reports suggest that Mitt has some splainin' to do.  And not just the, "I wasn't aware the IMF wasn't withholfing FICA from my check" splainin'. http://www.huffingtonpost.com/2012/08/24/mitt-romney-tax-strategy_n_1827632.html
    Posted by DirtyWaterLover

    Romney is a jerk too, but we already knew that:)...........
     
  2. You have chosen to ignore posts from BilltheKat. Show BilltheKat's posts

    Re: Is Romney in fact a tax cheat

    In Response to Re: Is Romney in fact a tax cheat:
    Really makes you  angry that the rich have their money in shelters that the Dems can't get their grubby hands on. Hilarious. The liberals are out of other people's money. Obama's programs can't function without other people's money. So sad he's such a big flop.
    Posted by ThatWasMe

    Your thinking process goes only so far and then veers left and hits a wall. You come to the conclusion that dems just want to get their hands on his money and STOP! Don't think beyond the idea that in America, you pay taxes on your income. If you hide your income, you're a tax cheat therefore Romney is a tax cheat. 

    Guilty as charged. That is the answer to the OPs question.

    However, you go right off the rails yammering on about redistribution of wealth, liberals, Obama and charities.

    Really pathetic. You must make Rush proud. You've become a brainwashed living breathing propaganda spouting machine.
     
  3. You have chosen to ignore posts from ThatWasMe. Show ThatWasMe's posts

    Re: Is Romney in fact a tax cheat

    In Response to Re: Is Romney in fact a tax cheat:
    In Response to Re: Is Romney in fact a tax cheat : Your thinking process goes only so far and then veers left and hits a wall. You come to the conclusion that dems just want to get their hands on his money and STOP! Don't think beyond the idea that in America, you pay taxes on your income. If you hide your income, you're a tax cheat therefore Romney is a tax cheat.  Guilty as charged. That is the answer to the OPs question. However, you go right off the rails yammering on about redistribution of wealth, liberals, Obama and charities. Really pathetic. You must make Rush proud. You've become a brainwashed living breathing propaganda spouting machine.
    Posted by BilltheKat


    bill the feral cat complaining again how unfair life is.

    People getting to keep too much of the money that they have actually earned is totally unaceptable. 

    Bain Capital, Romney's tax forms and abortion are the most important issues to the nation.


     
  4. You have chosen to ignore posts from ThatWasMe. Show ThatWasMe's posts

    Re: Is Romney in fact a tax cheat

    In Response to Re: Is Romney in fact a tax cheat:
    In Response to Re: Is Romney in fact a tax cheat : Your thinking process goes only so far and then veers left and hits a wall. You come to the conclusion that dems just want to get their hands on his money and STOP! Don't think beyond the idea that in America, you pay taxes on your income. If you hide your income, you're a tax cheat therefore Romney is a tax cheat.  Guilty as charged. That is the answer to the OPs question. However, you go right off the rails yammering on about redistribution of wealth, liberals, Obama and charities. Really pathetic. You must make Rush proud. You've become a brainwashed living breathing propaganda spouting machine.
    Posted by BilltheKat


    Don't you think if there were illegalities in Romney's past that they would have surfaced long before now?

    He's been running for President for 8 years and a former Governor, he has been vetted and investigated over and over.

    I think it's comical how the Dems and you continue to demagogue these issues which aren't getting any traction except among Obama's base. 
     
  5. You have chosen to ignore posts from ImYourDaddy. Show ImYourDaddy's posts

    Re: Is Romney in fact a tax cheat

    In Response to Re: Is Romney in fact a tax cheat:
    In Response to Re: Is Romney in fact a tax cheat : What a pie-in-the-sky idea! First of all, the only thing that matters is the EFFECTIVE tax rate. You know, what corporations actually pay? If in any given year, year over year, 66% of all companies pay NO taxes, then what does that tell you? The effective rate that business actually pay is not the nominal rate on the books. Second of all, did ya ever hear of the profit repatriation program that the wingnuts instituted a few years ago? No? Good thing because it was a complete and utter failure. US companies and the Chamber of Congress in cahoots with the wingnuts came up with a plan that incorporated just what you propose. A waiver of taxes on profits earned overseas. The wingnuts and the businesses promised that the TRILLIONS of dollars that came back to the states would create HUNDREDS of THOUSANDS of jobs. Happy days are here again. What did happen? Those companies repatriated their profits with little or no tax ... and then those companies began to LAYOFF workers. The program was an umitigated failure and NONE of the hiring boom happened. In fact employment in those companies DECREASED. As usual the wingnut rhetoric is as empty as their heads. The reality is that the taxes that American companies actually pay is less than the average of other industrialized nations. So spare me the 'taxes are too high' bumper sticker politics, it's not true for business taxes nor for individual taxes. Is a simpler tax better? Most definitely. But not as a way to give the wealthy even a bigger tax cut. Think about this; Mittens paid a tax rate of 14%, TOTAL, income tax with no payroll tax. The bottom 40% of workers pay that rate in payroll taxes alone. (Social Security and Medicare taxes are imposed at a combined rate of 15.3%) They may not pay income tax, but Mittens doesn't pay payroll tax either. So the poorest people in the country pay the same EFFECTIVE tax rate as the top 0.1% earners. If we want to stop tax evasion, we can simply eliminate loopholes that don’t encourage anything but corporate profits and clean out the more anachronistic parts of the corporate tax system, and if that brings US corporate tax revenues up toward the level of similarly situated companies abroad, all the better. If we can then lower the nominal tax rates on business, and increase revenue a bit, fine. But the focus on the nominal tax rate is a distraction to get you to ignore all the massive tax avoidance going on.
    Posted by 12-Angry-Men



    Effective tax rate .... how do we get to the effective tax rate (income - expense - tax credit / deferred income/ income outside U.S. that are not taxed). Is the same for corporate as for indivuals.

    Year over years companies has effective tax rate at 0 or negative tell me that they don't like to pay the nominal rate so they find area in our tax code to offset that income.

    To the moonbats, of course the repatriation program(2003) didn't work and a failure in their eyes . Liberals look at all that money coming back as their own. Is private money made from private companies. They can do what ever they want to do with it. They did stocks buy back, debts repayments, biggest dividends payout to stockholders, pay bonus to their people, everything to improve their company. Moonbats are upset because they only got to tax them 15% instead of 35% (20% of that money that the government didn't get for social programs). Where does it say that companies profit (oversea or here) are required to hire people/create jobs. The fact is around a trillion dollar came back into the US into pockets of americans and the government got  (15% of the action). Is 15% of something better than (0%). Liberals just don't like if others get rich

    Everyone does it (corporations,indivual) . Romney pay 14% (who cares , is legal)   Obama give 48k to his daughter to offset taxes (who cares), The Clintons hide 5 millions of their income behind a charitable foundation (who cares). Is our tax code, don't like it change it. Everyone is playing by the rules

    Income tax and tax on wealth is 2 different things ... they are both form of income but are completely different.

    Let say 2 people work , one make  1000 a week and the other make 2000 a week. Our tax code say we tax the 2000 a week person more (higher rate, liberals love that, rich need to pay more) At end of the week both guys after expenses etc.. have 500$ left over, the guys that made 1000$ decide to spend that 500$, the 2000$ guy decide to put that 500$ into the stock market (that's after tax dollar he put into the stock market) A year later the guy that making 2000$ is making more money because of the money he invested is also paying him dividend but only begin tax on the income from wealth/capital at 15%. The guy that make 1000 a week is really mad now(why is his effective tax rate lower than my income rate? instead of asking if I invested in the stock market, I too can acheive a lower effective rate for my combine income)

    Romney does not work. His after tax dollar is at work, like all investments there are risks (See people that bought facebook stocks). The tax rate on investment is low to attrach investors, without them our economy can not function. So stop complaining , no one is stopping you from investing
     
  6. This post has been removed.

     
  7. You have chosen to ignore posts from ThatWasMe. Show ThatWasMe's posts

    Re: Is Romney in fact a tax cheat

    In Response to Re: Is Romney in fact a tax cheat:
    In Response to Re: Is Romney in fact a tax cheat : Showing off your ignorance again spanky? Mittens income has NOT been previously taxed. His money comes from the tax loophole whereby fund managers are allowed to use the 'carried interest' tax dodge so that their compensation is only taxed at capital gains rates, not wage/salary rates. And I particularly like how you doubled down on your ideological ignorance by trying to use that wingnut misdirection of income taxes as opposed to ALL taxes.
    Posted by 12-Angry-Men


    Before Romney invested his money he had to earn it.

    That is where he was taxed the first time as earned income.

    Then a second time on the profits he made on his investments.

    Going too fast for you?
     
  8. This post has been removed.

     
  9. You have chosen to ignore posts from ThatWasMe. Show ThatWasMe's posts

    Re: Is Romney in fact a tax cheat

    In Response to Re: Is Romney in fact a tax cheat:
    In Response to Re: Is Romney in fact a tax cheat : Hey moron, his income is from MANAGED PROFITS! It is a distribution of the fees that Bain collects as the managers of various funds. It is NOT a result of his investment. It is a result of his WORK, or recently, the WORK of Bain capital managers. It is an anachronism of the tax code whereby the COMPENSATION of fund managers is treated differently than salary or wages.
    Posted by 12-Angry-Men


    It is now Einstein.

    He lives off interest from his investments.

    But going back in time those investments were originally purchased with money he declared as earned income and was taxed as such.

    Money that he earned while working he then invested.

    Hard to understand??
     
  10. This post has been removed.

     
  11. You have chosen to ignore posts from ThatWasMe. Show ThatWasMe's posts

    Re: Is Romney in fact a tax cheat

    In Response to Re: Is Romney in fact a tax cheat:
    In Response to Re: Is Romney in fact a tax cheat : Most of your post has nothing to do with the argument at hand. First of all, the vast majority of Mittens income is NOT derived from his investments. It is from the distribution of fees that Bain collects to do work on behalf of their clients. Second, The repatriation DIDN'T work the way the whacko wingnuts and corporations claimed it would. They KNEW that they wouldn't use the money to hire people so they lied to get the bill passed.  Funny how the wingnuts keep harping on the prediction of an Obama administration official when she said that the stimulus would keep unemployment below 8% (even though the rate was 8.2% when she said it) but when the whacko wingnuts do the same thing, ya'll come up with excuses. Third, the repatriation bill set the tax at 5%, below even the capital gains tax. Finally, your two person scenario is irrelevent. The majority of Mittens income falls under his retirement agreement with Bain. That means that he gets his distribution as a partner of a firm in a business sector that gets a tax break on their compensation. For every other tax payer that has a 401k retirement account, their distribution is taxed as ordinary income. 
    Posted by 12-Angry-Men


    Romney risked his own money founding Bain didn't he?

    I mean Bain could have flopped.

    You guys seem to have a problem with someone investing and risking and earning money.

    You guys seem to have a problem with the producers in this society.

    These are the people that Obama and the Democrats go after.
     
  12. This post has been removed.

     
  13. You have chosen to ignore posts from ThatWasMe. Show ThatWasMe's posts

    Re: Is Romney in fact a tax cheat

    In Response to Re: Is Romney in fact a tax cheat:
    In Response to Re: Is Romney in fact a tax cheat : Hey moron, take a look at his most recent tax return! But according to his 2010 tax return , when the Internal Revenue Service comes calling in April, Romney has a different answer: The presumptive GOP nominee reaps lucrative tax breaks for " active " participation in the private equity firm he founded, as well as a host of other investments.
    Posted by 12-Angry-Men


    Who cares????

    Its legal.

    Who cares what the Kennedy's make or John Kerry or Nancy Pelosi?

    What is important is if Romney is qualified to fix this economy.

    That is all anyone cares about (except for the left).
     
  14. You have chosen to ignore posts from ThatWasMe. Show ThatWasMe's posts

    Re: Is Romney in fact a tax cheat

    In Response to Re: Is Romney in fact a tax cheat:
    In Response to Re: Is Romney in fact a tax cheat : Hey moron, take a look at his most recent tax return! But according to his 2010 tax return , when the Internal Revenue Service comes calling in April, Romney has a different answer: The presumptive GOP nominee reaps lucrative tax breaks for " active " participation in the private equity firm he founded, as well as a host of other investments.... That still leaves Romney in a rhetorical jam: For tax purposes, he claims an active status; for political purposes, he claims to have zero to do with the investments.
    Posted by 12-Angry-Men



    He's been running for President for 8 years there is nothing there illegal.

    He was a Governor.

    Don't you think one of his political opponents would have had something by now?

    Or the IRS?

    You people are hopeless.
     
  15. You have chosen to ignore posts from ThatWasMe. Show ThatWasMe's posts

    Re: Is Romney in fact a tax cheat

    Did they vet Obama like this 4 years ago???

    Too bad. If you did Hillary would up for re-election.
     
  16. You have chosen to ignore posts from BilltheKat. Show BilltheKat's posts

    Re: Is Romney in fact a tax cheat

    In Response to Re: Is Romney in fact a tax cheat:
    Did they vet Obama like this 4 years ago??? Too bad. If you did Hillary would up for re-election.
    Posted by ThatWasMe

    Did they vet Obama??? Are you kidding me? You dopes are still vetting him. At least the wacko wingnut populace anyway.

    Oh ya, that's all of you.



     
  17. You have chosen to ignore posts from ThatWasMe. Show ThatWasMe's posts

    Re: Is Romney in fact a tax cheat

    In Response to Re: Is Romney in fact a tax cheat:
    In Response to Re: Is Romney in fact a tax cheat : Did they vet Obama??? Are you kidding me? You dopes are still vetting him. At least the wacko wingnut populace anyway. Oh ya, that's all of you.
    Posted by BilltheKat



    None of the major media networks vetted him if they did Hillary would be running for re-election.

    And we would be a better nation for it.

    They had too much of a tingle running up their legs whenever he spoke.

    Too busy camped out in Alaska following Sarah Palin around theorizing that her grand daughter was actually her daughter, and that her marriage was on the rocks, focusing on the important issues like they are again this election..


     
  18. This post has been removed.

     
  19. You have chosen to ignore posts from skeeter20. Show skeeter20's posts

    Re: Is Romney in fact a tax cheat

    In Response to Re: Is Romney in fact a tax cheat:
    In Response to Is Romney in fact a tax cheat : Romney is a jerk too, but we already knew that:)...........
    Posted by AlleyCatBruin



    how is Romney a jerk?  Examples?

    Is Obama a jerk for his  'I won the election, so, get over it' comment to John McCain?
     
  20. You have chosen to ignore posts from skeeter20. Show skeeter20's posts

    Re: Is Romney in fact a tax cheat

    In Response to Re: Is Romney in fact a tax cheat:
    Did they vet Obama like this 4 years ago??? Too bad. If you did Hillary would up for re-election.
    Posted by ThatWasMe


    The vetting of Obama this time around is solid.  In addition to what we learned in '08, we learn that Obama wanders the halls of the White House singing Al Green tunes, and has a homebrew recipe.  I mean, this is solid vetting!


     
  21. This post has been removed.

     
  22. You have chosen to ignore posts from BilltheKat. Show BilltheKat's posts

    Re: Is Romney in fact a tax cheat

    In Response to Re: Is Romney in fact a tax cheat:
    In Response to Re: Is Romney in fact a tax cheat : It's legal...so it's ok no matter who does it. Nice try stupid!
    Posted by WhichOnesPink2

    So you admit he's a tax cheat too!

    It's like pulling teeth sometimes with the short bus crowd but we'll get you there.

     
  23. You have chosen to ignore posts from tvoter. Show tvoter's posts

    Re: Is Romney in fact a tax cheat

    He's still better than Obama!
     
  24. This post has been removed.

     
  25. You have chosen to ignore posts from DirtyWaterLover. Show DirtyWaterLover's posts

    Re: Is Romney in fact a tax cheat

    If it's legal, then what's the big deal?

    Yes, Mitt took advantage of tax loopholes available only to the very wealthy.  Yes, he was in an active participant with Bain during at least the past year.

    But I do want to see more that taxe returns.  Because, Mitt is claiming his investments are in a blind trust that he has little or no control over.  I want to see tax returns from when his investments weren't in a blind trust.

    I want to see Romney's tax returns from a period of time when he can't hide behind the "blind trust" excuse.

    If he in fact did nothing illegal, then what's the big deal?
     
Sections
Shortcuts

Share