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HelicopterOff Topics News & Politics › Democrats Love Taxes -- They Just Don't Want to Pay Them
02-02-2012 07:32 PM  6 years agoPost 1
Dennis (RIP)

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Oregon

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Democrats Love Taxes -- They Just Don't Want to Pay Them

by Larry Elder Feb 02, 2012

Forgive Republican candidate Mitt Romney for his alleged failure to adequately explain why he paid "only" 14 percent of his income in taxes.

The honest answer -- "Well, because my accountants couldn't figure out how to get them any lower" -- does not work in this or very many other election years. Romney seemed flat-footed because, like most business people, he seeks to minimize costs and expenses.

This includes taxes.

A normal wealthy-and-proud-of-it guy would have said: "Let me get this straight, pal. I'm not supposed to take every legal advantage provided me by the tax laws to reduce my taxes?" For what it's worth, about 15 percent of Romney's last two years of income went to charity -- substantially higher than the percentage given by the Obamas or Joe Biden's $380 (not a typo) of his quarter-million dollar income in 2006.

"Tax savings" allows people more money to save, spend, invest, bequeath and donate. On some level, even Democrats understand this.

Democrat Rep. Barney Frank, D-Mass., is one of them. In 2001, Massachusetts lowered it state income tax rate. But the legislature showed mercy for the Bay State's guilt-ridden, tax-hike-supporting liberals. The tax form allowed the filer to check a special box -- and pay the old, higher rate. Out of more than 3 million tax filers in 2004, a tiny fraction of 1 percent -- 930 taxpayers -- volunteered to pay the higher rate. Among those who declined the opportunity was Mr. Frank. Frank explained, "I don't trust the legislative leadership and Gov. (Mitt) Romney to make the right decisions." Instead, Frank said, "I'll donate the money myself." What?! Charity might better spend money than can government, which, by its nature, operates less efficiently and more expensively than can private welfare?

Democrat Sen. Howard Metzenbaum from Ohio (served 1974, 1976-1995) was another tax-supporting Democrat not too keen on paying more in taxes than he needed to. But after retirement, the wealthy Metzenbaum moved to Florida, which, unlike Ohio, is a state with no estate or personal income taxes. This saved him millions.

Democrat John Edwards' wife Elizabeth, during the 2004 campaign, said rich politicians like her husband reveal "character" when they vote against financial "interest" by supporting higher taxes. This is the same John Edwards who, as a trial lawyer winning big jury awards, established a separate sub-corporation to accept the money, paying him through dividends rather than income. Perfectly legal. But this allowed Edwards to avoid some $600K in Medicare payroll taxes.

http://townhall.com/columnists/larr...2/creators_oped

Liberty once lost, is lost forever.

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02-03-2012 12:05 AM  6 years agoPost 2
es1co2bar3

rrKey Veteran

winnetka california

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This is the stupidest endorcement i ever see.
donald is a lonatic if gingrich did won FL he'd endorce ging
donald can suck it up. romney cry just like mc, payne did.

onald Trump formally endorsed Mitt Romney for president on Thursday, describing the former Massachusetts governor as "tough" and "smart" and the best pick in the GOP primary.
Trump and Romney appeared together in Las Vegas to announce the endorsement, which drew heavy media coverage.
"It is a real honor and privilege to endorse Mitt Romney," Trump said in brief remarks. "Mitt is tough, he's smart, he's sharp. He's not going to allow bad things to continue to happen to this country we all love."
Romney said in response: "There are some things that you just can't imagine in your life. This is one of them," adding that it means a "great deal" to have the billionaire's support.

http://firstread.msnbc.msn.com/_new...tinue-to-happen

I was waiting on some honey but there aren't no Queen bee,

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02-03-2012 12:27 AM  6 years agoPost 3
helicopter

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Omaha, Nebraska

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On NPR today 2-2-12, I heard mark zuckerberg, of facebook fame,
decided to lower his .5meg salary to one dollar per year.

Wow what a guy! The reporter said the man was not wishing to
be tied to his workers. And this action would make him more
endearing to the entire FB Staff.

NO. I think he will ALSO pay his bad self via dividends too...

Thus LOWERING his tax rate!

Sheesh! Can anyone afford a lawyer? Not me.

I love gravity, it always keeps my feet planted when I fly!

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02-03-2012 01:23 AM  6 years agoPost 4
Dennis (RIP)

rrApprentice

Oregon

My Posts: All  Forum  Topic

On NPR today 2-2-12, I heard mark zuckerberg, of facebook fame,
decided to lower his .5meg salary to one dollar per year.

Wow what a guy! The reporter said the man was not wishing to
be tied to his workers. And this action would make him more
endearing to the entire FB Staff.

NO. I think he will ALSO pay his bad self via dividends too...

Thus LOWERING his tax rate!

Sheesh! Can anyone afford a lawyer? Not me.
Nope, folks like us cannot afford lawyers to lower our tax rates. We are not within those type of income levels.

But, there are some that can. What Zuckerburg did was a wise decision and most likely halved his tax obligations by deleting his taxable salary and switching his tax obligation to capital gains. By doing so, he most likely reduced his tax obligation substantially.

If any of us were in that position, we would do the same thing.

Liberty once lost, is lost forever.

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