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HomeOff Topics News & Politics › Majority of Americans Want Romney to Release Tax Returns
08-08-2012 07:11 PM  6 years agoPost 61
PsychoZ

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Northern, CA

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Well, that is truly pathetic and very small of you
Thank you.
There are some that would consider that fat headed thinking.
Oh well. Not going to lose any sleep over it.

Tea Parties are for little girls with imaginary friends

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08-09-2012 03:32 AM  6 years agoPost 62
djinni

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Chitown

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baby uh1
I wonder, between Obama and Mitt, Which one has paid more taxes in the last ten years?
We know what President Obama paid in taxes, he's released 12 years of his last tax returns.

We only know what Romney paid in taxes in 2011, that's the only year he's released. and he paid 13.9% in taxes. Anyone in your family paid 13.9% in Federal Taxes?
.

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08-09-2012 03:41 AM  6 years agoPost 63
Dennis (RIP)

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Oregon

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We only know what Romney paid in taxes in 2011, that's the only year he's released. and he paid 13.9% in taxes. Anyone in your family paid 13.9% in Federal Taxes?
Anyone in YOUR family with a net worth of $200 million?

Anyone in YOUR family paying the LEGAL tax rate on investments rather than the tax rate on income?

Wow, there are some stupid people here.

I would bet almost anything that Romney has paid more taxes in just 2 years than the entire net worth of what the Obummer is today.

Liberty once lost, is lost forever.

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08-09-2012 03:49 AM  6 years agoPost 64
dilberteinstein

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texas - USA

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I did a survey in my neghborhood and we all (100%) want Obama to release his records. We'll think about Romney's taxes after Obama is run out of town.

90% of life is "showing up"

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08-09-2012 04:03 AM  6 years agoPost 65
flustercluck

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Newnan Ga (Just S. of ATL)

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I did a survey in my neghborhood and we all (100%) want Obama to release his records.
I too wish Dear Leader would release a couple records...man, I really dig his tunes... and his back-up band...WOW

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08-09-2012 03:35 PM  6 years agoPost 66
PsychoZ

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Northern, CA

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I would bet almost anything that Romney has paid more taxes in just 2 years than the entire net worth of what the Obummer is today.
So you are ok with people that are worth more money to not have to pay the same percentage as everyone else? They get to keep more of their money while people that have less money have to pay a higher percentage and keep less?

Everyone should have to pay the same percentage no matter how much you make, that is what's fair.

Tea Parties are for little girls with imaginary friends

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08-09-2012 04:00 PM  6 years agoPost 67
StarFish435

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Cape Coral,US

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Everyone should have to pay the same percentage no matter how much you make, that is what's fair.
So what is the incentive to make more money?Welfare state here we come if we where under PsychoZ rule.

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08-09-2012 04:24 PM  6 years agoPost 68
Dennis (RIP)

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Oregon

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So you are ok with people that are worth more money to not have to pay the same percentage as everyone else?
If you object to that, then go talk to the IRS or your representative. Let us know how that goes.

Do you understand the difference between paying fed taxes on investment income at 15% of millions and 25% 0f $40,000 or $50,000?

Bottom line is the 15% has paid more into federal coffers than that 25% could ever dream of.

Wake up man.

20% of the highest earners in the US pay well in excess of 60% of all fed taxes collected. Those high income earners are supporting the federal government.
They get to keep more of their money while people that have less money have to pay a higher percentage and keep less?

Everyone should have to pay the same percentage no matter how much you make, that is what's fair.
Well, you would not get me to argue your point on the principle of that idea. But, just try to make that happen and see what the results are. The results would be fewer jobs in the end.

You cannot continually punish achievement and expect positive results for all. It cannot be done.

Liberty once lost, is lost forever.

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08-09-2012 05:00 PM  6 years agoPost 69
ssmith512

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Indianapolis, IN USA

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So you are ok with people that are worth more money to not have to pay the same percentage as everyone else?
Them's the rules. Dont blame the man for following the rules.

You do realize the lower rate is on INVESTMENT income? You do realize that there is a SIGNIFICANT risk with investment income, hence the lower rate? If the investment income rate were high, no one would invest in business. There would be no capital investment firms. No venture capital. There would be no Staples, there would be no Dominoes Pizza, there would be no Lowe's Home Improvement stores, etc., etc., etc. Investing in new business is very risky business. When it goes wrong, you tend to loose way more than 15%. That is why the rate is low, to encourage those with money to NOT sit on their money and invest it.

No investment, no economy, no jobs, no more rich people. IT IS A VERY SIMPLE CONCEPT.

ANYONE with stocks, even if you only have a $100 worth of stocks, only pays 15% on the dividends. Play the game long enough and smart enough and bingo bango you have just become one the rich guys you hate so much, and as soon as you become a rich guy, I guaran-frinkin-tee you that you will find every way possible to mitigate your tax liability.

Steve

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08-09-2012 05:03 PM  6 years agoPost 70
Dennis (RIP)

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Oregon

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Them's the rules. Dont blame the man for following the rules.

You do realize the lower rate is on INVESTMENT income? You do realize that there is a SIGNIFICANT risk with investment income, hence the lower rate? If the investment income rate were high, no one would invest in business. Their would be no capital investment firms. No venture capital. There would be no Staples, there would be no Dominoes Pizza, there would be no Lowe's Home Improvement stores, etc., etc., etc. Investing in new business is very risky business. When it goes wrong, you tend to loose way more than 15%. That is why the rate is low, to encourage those with money to NOT sit on their money and invest it.

No investment, no economy, no jobs, no more rich people. IT IS A VERY SIMPLE CONCEPT.

ANYONE with stocks, even if you only have a $100 worth of stocks, only pays 15% on the dividends. Play the game long enough and smart enough and bingo bango you have just become one the rich guys you hate so much, and as soon as you become a rich guy, I guaran-frinkin-tee you that you will find every way possible to mitigate your tax liability.
There you go Pyscho.

Instead of using your emotions, try using your brain once in a while.

This stuff is simple knowledge, basic math, and simple economics.

Its not rocket science.

Liberty once lost, is lost forever.

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08-09-2012 05:32 PM  6 years agoPost 71
PsychoZ

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you have just become one the rich guys you hate so much
What makes you think I hate rich people. That was a stupid statement. I just feel everyone should pay the same percentage, that is it. Kind of like what Cain wanted.

Tea Parties are for little girls with imaginary friends

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08-09-2012 05:49 PM  6 years agoPost 72
Dennis (RIP)

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Oregon

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What makes you think I hate rich people. That was a stupid statement. I just feel everyone should pay the same percentage, that is it. Kind of like what Cain wanted.
Yeah, and look what happened to Cain.

He did not last long even though his message was good in principle. It was not just that little scandal he got caught up in.

In practicality, his plan sucks big time.

For everyone to pay the same percentage, you would have to eliminate all Capital Gains taxes (taxes on investment income).

That would mean that a guy like Romney who has done very well in the private sector would pay in excess of 20% to 25% of his investment income instead of the 15% on investment income as it is now. That very well could entail Romney paying millions more in taxes. What does he do to avoid that? Well, certainly, he would have to pay those increases in his taxable investment income and he would have much, much less to invest and create more jobs. Other people in his position would have to do the same or just start scaling back their investments to avoid further taxation. Or, they might just pull back and sent their profits to overseas banks to avoid being taxed further to help preserve what they have earned. Maybe invest in some gold that is increasing in value in a shrinking economy. Definatly some of that would have to happen. Its simply called survival.

Every single time throughout modern history, when Capital Gains taxes were raised, the government received less revenue and there was less investment in the private sector and no one gained anything. In fact, jobs were lost.

Now, the Obummer admin wants to double capital Gain taxes the first of next year form 15% to 30% based on the theory that the "Rich" have to pay their "Fair Share" at a time in our history when the "Rich" are paying so much that they are actually supporting the entire federal government while almost 50% of the working public are paying nothing at all.

The effect of that one tax increase, if it actually goes into effect, while be hugely devastating to an already circling the drain economy. Further jobs would be lost and further businesses would slow down or job cease to exist altogether.

Emotional decisions with either investments or further taxation does not help anyone. In fact, its just a purely immature and childish way to go about life in the economy or government, and everyone looses. Everyone.

Liberty once lost, is lost forever.

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08-09-2012 05:51 PM  6 years agoPost 73
fla heli boy

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cape coral, florida

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agreed. So does that mean the poor should pay 15-35% as well???
We have it all backwards. The tax rate table should be inverted. The more you make, the less you pay as a percentag to give everybody the incentive to make more and pay less. On top of the fact that the poor are many many times more costly to the country as a whole than the wealthy. The poor pay the least, reap the biggest benefits. It's backwards.

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08-09-2012 06:02 PM  6 years agoPost 74
Dennis (RIP)

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Oregon

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agreed. So does that mean the poor should pay 15-35% as well???
We have it all backwards. The tax rate table should be inverted. The more you make, the less you pay as a percentag to give everybody the incentive to make more and pay less. On top of the fact that the poor are many many times more costly to the country as a whole than the wealthy. The poor pay the least, reap the biggest benefits. It's backwards.
There again, in practicality, yes, it looks good.

But, in practice, it would not work.

Especially now.

There has to be a half way point where everyone is paying something for their infrastructure, protection, and services they receive, up to a point.

No matter what, the "Rich" will always be carrying the lions share for a very long time until you can very gradually start to draw a share from those that are not paying now. There is a balance that must be met. We had it at one time. But, it was so screwed up with multiple deductions and tax code rules, that few understood it and it got so dammed complicated, it became of less and less value and ended up with what we have now which is totally out of balance with any common sense at all.

Both sides in our government are at fault in this along with a very dumb voter base that has set about an irresponsible government that is only actionable to themselves as THEY see fit. In other words, "THE ELITE".

What do we do about it?

Well, certainly we cannot move forward with what we have now. Over $5 trillion in added debt in less than 4 years is no way to recover an economy and put everyone to work. It will only fuel the fires of an entitlement culture until we run out of everyone's money and we no longer circle the drain. We will be in the sewer with equal misery for all of us except "THE ELITE".

If you are a part of "THE ELITE", then no problem. You will be fed well and live good with very, very heavy security around you 24/7.

Liberty once lost, is lost forever.

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08-09-2012 06:13 PM  6 years agoPost 75
irocu88

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norfolk,va

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Don't hate the player...hate the game.

Caliber 90 FT os91 c-spec
Caliber 50, OS50 hyper
Caliber 30 OS37

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08-09-2012 06:16 PM  6 years agoPost 76
rander1

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Dallastown, PA

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The tax rate is progressive.

Tax Bracket Married Filing Jointly Single
10% Bracket $0 – $17,400 $0 – $8,700
15% Bracket $17,400 – $70,700 $8,700 – $35,350
25% Bracket $70,700 – $142,700 $35,350 – $85,650
28% Bracket $142,700 – $217,450 $85,650 – $178,650
33% Bracket $217,450 – $388,350 $178,650 – $388,350
35% Bracket Over $388,350 Over $388,350

Everyone pays 10% on the first $8,700 of their salary, they pay 15% on the difference between $8,700 and $35,350 of their income, they pay 25% on the difference of $85,650 and $35,350.

Seeming as though the median income is ~40K most people only pay 15% effective tax rate anyway... and that is without child or mortgage deductions.

Math:

8,700 * 10% = 870
(35,350-8,700) * 15% = 3997.5
(40,000-35,350) * 25% = 1162.5

Grand total tax = $6030/$40,000 = 15% effective tax rate.

Looks like he is paying the same effective tax rate as everyone else.

However.... the average tax rate is moot point. You could tax the rich 100% and it wouldnt even cover a week of our deficit spending.

You should be more concerned with our spending and how we are going to pay off our debt, as well as the FED devaluing our dollar thus the value of the country. The less the dollar is worth the more commodities increase in value thus reducing your purchasing power significantly. This whole tax argument is distraction or smoke and mirrors if you will.

You are getting looted through currency devaluation. It shows in your grocery stores and gas pumps!!! Wake up...

Tic Toc Tic Toc

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08-09-2012 06:24 PM  6 years agoPost 77
Dennis (RIP)

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Oregon

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You should be more concerned with our spending and how we are going to pay off our debt, as well as the FED devaluing our dollar thus the value of the country. The less the dollar is worth the more commodities increase in value thus reducing your purchasing power significantly. This whole tax argument is distraction or smoke and mirrors if you will.

You are getting looted through currency devaluation. It shows in your grocery stores and gas pumps!!! Wake up...
+1
Seeming as though the median income is ~40K most people only pay 15% effective tax rate anyway... and that is without child or mortgage deductions.
But, you neglected to mention that anyone with kids in the home along with home owners get huge deductions for those kids and end up getting most if not all that they paid during the calendar year. In fact, those on the lower end, when they have those deductions, get far more back than they paid in.

Now, we may have information that illegals that file taxes, and don't have a social security number get another tax ID number to file with and get far more back in refunds than they paid in. It turns out, far, far more than legal citizens.

More on that later as information is brought forth on this matter. Its not looking good and may be a direct result of more executive orders directly from the Obummer and his pals.

That should just give you all a warm, cozy feeling inside.

Liberty once lost, is lost forever.

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08-09-2012 06:49 PM  6 years agoPost 78
rander1

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Dallastown, PA

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Id also like to point out that net federal taxes have been negative for the bottom quintile and now the 2nd bottom quintile since the 80's.

If any of these people request tax increases on the rich that makes them thieves. The federal tax base is funded mostly by the top earners in the first place.

They need to broaden the tax base to increase revenues. That means an increase in taxes on the bottom. (Or for them a decrease on the refund they get for just being alive)

http://www.taxpolicycenter.org/taxf...t.cfm?Docid=456

Tic Toc Tic Toc

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08-09-2012 06:52 PM  6 years agoPost 79
Dennis (RIP)

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Oregon

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Yup, its been creeping up on us for a very long time.

Not sure if what we have no can ever be reversed.

It would take an extremely strong leader with characteristics that we don't see at all in any of our so called leaders at present.

It appears now as though its just to late.

Circling the drain.

Liberty once lost, is lost forever.

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08-09-2012 07:54 PM  6 years agoPost 80
flustercluck

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Newnan Ga (Just S. of ATL)

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Circling the drain.
And down we go....

BUT FIRST:

Soak the rich to pay for more free stuff!!! Yippee!!!!

The Obama Transformation Rolls On into 2013, 2014, 2015, and 2016!!!

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