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Qtec
01-28-2012, 01:51 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Mitt Romney’s tax returns tell us some things about him. They tell us a lot more about the sad state of the tax laws in this country.


For Romneys, Friendly Code Reduces Taxes (January 25, 2012)



When the candidate released his tax returns this week, the fact most noted was the low 14 percent effective tax rate paid by one of the wealthiest people in America, one with income of more than $20 million in both 2010 and 2011. <span style='font-size: 14pt'>Others were surprised to see how easy it was for Mr. Romney to effectively transfer millions of dollars each year to his children, tax-free, thus escaping estate and gift taxes.</span>

But what really stands out is the mind-numbing complexity of tax laws, and about how hard it seems to have been for even the high-priced help Mr. Romney can afford to get things right.

In one case, the trustee for one of the Romney trusts sent two letters to the Internal Revenue Service electing to use an apparently irrelevant section of the tax code, and in the process misstated the facts involved.

That mistake did not affect the taxes owed, but another error was more significant. It appears that the return filed by that trust overstated capital gains realized by nearly $300,000, <span style='font-size: 17pt'>causing Mr. Romney and his wife to pay about $44,000 more in taxes than they owed </span></div></div>

link (http://www.nytimes.com/2012/01/27/business/economy/mitt-romney-paid-more-taxes-than-he-owed-high-low-finance.html?_r=1)

http://graphics8.nytimes.com/images/2012/01/27/business/Norris/Norris-articleLarge.jpg

Its tough at the top.

Q /forums/images/%%GRAEMLIN_URL%%/crazy.gif

eg8r
01-28-2012, 12:41 PM
So you are pissed off that he is a law abiding citizen, unlike yourself or a few of Obama's appointees, and then a sarcastic piece of garbage when he actually pays in more than he is supposed to. Do you see how pathetically jealous you are?

eg8r

LWW
01-29-2012, 04:11 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: eg8r</div><div class="ubbcode-body">So you are pissed off that he is a law abiding citizen, unlike yourself or a few of Obama's appointees, and then a sarcastic piece of garbage when he actually pays in more than he is supposed to. Do you see how pathetically jealous you are?

eg8r </div></div>

To dembots it is completely incomprehensible that high ranking officials would pay "THEIR FAIR SHARE" willingly.

Qtec
01-29-2012, 06:27 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: eg8r</div><div class="ubbcode-body">So you are pissed off that he is a law abiding citizen, unlike yourself or a few of Obama's appointees, and then a sarcastic piece of garbage when he actually pays in more than he is supposed to. Do you see how pathetically jealous you are?

eg8r </div></div>

Oh please, not the jealousy crap again. I told you you don't get it and you prove me right again.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Millionaire Republican presidential candidate Mitt Romney said Wednesday that he was seeking better tax policies for people in the middle class <span style='font-size: 14pt'>like himself.</span> <span style="color: #3333FF">Willard is in the 0.006%, hardly MC.</span>

“I think it’s a real problem when you have half of Americans — almost half of Americans that are not paying income tax,” the candidate told a group of supporters at a town hall event in Florida. <span style="color: #3333FF">What a nerve! </span>
“My own view with regards to tax policy is that we ought to provide help to the people that have been hurt most by the Obama economy, and that’s the middle class.”

“It’s not those at the low end and it’s certainly not for those at the very high end. It’s for the great middle class, the 80 to 90 percent<span style='font-size: 14pt'> of us </span>in this country.”

Earlier at the same event, <span style='font-size: 14pt'>he had promised not to pander or be<u> “phony.”</u> </span></div></div>

Its not the fact that Mitt is rich, its that he is a hypocrite and a liar who will say anything to achieve his goal.

There is an obvious inequality in a tax code that favours the super rich. Romney doesn't want to fix that, he wants to make it worse.

Q

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Romney lays out several tax policies, all of which primarily benefit the super wealthy.

– Extend all the Bush tax cuts: While everyone got a tax cut from President Bush, the extremely wealthy got the lion’s share of the benefit. In 2010, fully half of the entire benefit from all of the Bush tax cuts flowed to the richest 5 percent of Americans. Extending them all (plus indexing the Alternative Minimum Tax to inflation) will cost nearly $4 trillion, not including interest costs.

– Eliminate capital gains taxes for middle income households: Capital gains tax rates are already extraordinarily low, but middle class Americans don’t enjoy much benefit from that. According to the Tax Policy Center, 67 percent of the entire benefit from lower capital gains tax rates goes to millionaires. Romney’s proposal won’t cost much because it won’t benefit many people.

– Cut corporate taxes: Romney’s proposal to cut the corporate rate by about a third would cost more than $900 billion. Needless to say, this cut would benefit mainly the very rich and corporations.

– Eliminate estate taxes: Right now, <u>only the very biggest, richest fraction of a percent of all estates pay any tax at all.</u> Eliminating even this paltry amount would cost about $175 billion, and would, of course, only benefit a few extremely wealthy heirs and heiresses. </div></div>

Qtec
01-29-2012, 06:34 AM
This little guy has the same attitude as you and Willard. LOL

Teddy won't share (http://www.youtube.com/watch?v=UGz8jcbJjRw)

Q

LWW
01-29-2012, 07:53 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body">This little guy has the same attitude as you and Willard. LOL

Teddy won't share (http://www.youtube.com/watch?v=UGz8jcbJjRw)

Q </div></div>

So you finally got wise to Teddy Kennedy.

<span style='font-size: 26pt'>BRAVO!</span>

Soflasnapper
01-29-2012, 12:09 PM
trust overstated capital gains realized by nearly $300,000, causing Mr. Romney and his wife to pay about $44,000 more in taxes than they owed

"I think it would be closer to 15% than anything..." (Romney, previewing his effective tax rate)

[$300k x .15 = $45k]

Don't get me wrong. I think getting capital gains is the American dream, and it's part of my goal, and likely the goal of most small business owners-- get a good track record of growing a business together over some years, go get audited financials, and sell at some multiple of annual earnings, all of which is taxed at capital gains rate.

Cashing out YOUR business after years of working it is a classic exit strategy for the business principles.

But Romney's Bain Capital plan was to cream off the cash of others' businesses, by looting and pillaging the companies, typically. Oh, sorry, I mean of course, loading up the company with an unaffordable debt load to cream off the cash, take exorbitant management fees, and gain some hundreds of millions in profits all at 15% rates while the company fails and is dissolved in bankruptcy, gutting the pension holder stakeholders and putting a partial replacement cost onto the taxpayers.

eg8r
01-29-2012, 01:26 PM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">“I think it’s a real problem when you have half of Americans — almost half of Americans that are not paying income tax,” the candidate told a group of supporters at a town hall event in Florida. </div></div>I think this is absolutely spot on. Those who don't pay in have no vested interest into what is going on. They merely become bought and paid for by whichever politician promises to keep the status quo or give them more. It is a sad state of affairs.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Its not the fact that Mitt is rich, its that he is a hypocrite and a liar who will say anything to achieve his goal.
</div></div>So he paid in more money that he was supposed to and you call him a liar. I would prefer to have more liars like him than those like yourself that steal tax money away from the needy.

eg8r

LWW
01-29-2012, 02:39 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Soflasnapper</div><div class="ubbcode-body">But Romney's Bain Capital plan was to cream off the cash of others' businesses, by looting and pillaging the companies, typically.</div></div>

Evidence?

Qtec
01-30-2012, 02:01 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">I think this is absolutely spot on. Those who don't pay in have no vested interest into what is going on. </div></div>

But they do pay taxes! We've been through this a 100 times. Mitt doesn't pay any income tax either.[ except for one instance, speaking fee]

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">So he paid in more money that he was supposed to </div></div>

You don't see the irony, do you.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">So he paid in more money that he was supposed to and you call him a liar. </div></div>

How totally disingenuous of you. I think I have given numerous examples why he is a hypocrite and a liar but you choose to ignore them.

link (http://billiardsdigest.com/forums/ubbthreads.php?ubb=showflat&Number=376688#Post376688)



Q

Qtec
01-30-2012, 02:43 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Don't get me wrong. I think getting capital gains is the American dream, and it's part of my goal, and likely the goal of most small business owners-- get a good track record of growing a business together over some years, go get audited financials, and sell at some multiple of annual earnings, all of which is taxed at capital gains rate. </div></div>

I agree with that too but Mitt is a different case altogether.

For me its a Democracy problem. If the super rich are not taxed properly on unearned income, it will create a new upper class that will have so much money, a small consortium of these perpetual super rich will rule the country indefinitely.

Q





Q

LWW
01-30-2012, 04:27 AM
Honestly ... the only example of this that comes to mind is the Kennedy Klan.

Soflasnapper
01-30-2012, 01:13 PM
Cf: American Pad and Paper, and that steel mill operation.