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isobars
Joined: 12 Dec 1999
Posts: 20935
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 Posted: Wed Jan 22, 2014 11:51 am Post subject: |
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| techno900 wrote: | | 14% of Romney's income is a WHOLE lot more dollars that 28% of Joe the plumbers. |
Joe "Wurzelbacher, based on the region of the country he works in, the amount of experience he has, and the fact that he is unlicensed, could be currently making anywhere between $40,000 and $70,000", according to Time Magazine. He may pay anything from near zero to upper teens percent in federal income taxes, minus subsidies out the buttcrack depending on family size. |
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KGB-NP
Joined: 25 Jul 2001
Posts: 2856
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| Posted: Wed Jan 22, 2014 11:56 am Post subject: |
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| isobars wrote: | | , minus subsidies out the buttcrack depending on family size. |
THAT was funny! 
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The universe is made up of proton, neutrons, electrons, and morons. |
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pueno
Joined: 03 Mar 2007
Posts: 2807
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| Posted: Wed Jan 22, 2014 12:52 pm Post subject: |
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| techno900 wrote: |
All very true and the typical liberal arguing point. However, the government doesn't fund its activities with percentages. It takes dollars!
14% of Romney's income is a WHOLE lot more dollars that 28% of Joe the plumbers. |
Well, yes, because Joe's a useless bum, no doubt on welfare.
So, do you think that taxes should be assessed as a flat rate per person rather than a percentage of income? Sorta like membership dues to join Club America and use the benefits?
| techno900 wrote: |
Most of the money Romney is investing/risking to generate capital gains, has already been taxed at a high rate. |
C'mon, Techno, you know better than that. If you follow that specious logic, every dollar in your pocket has been taxed a zillion times as it circulates through the economy over 'n over 'n over. Mitt knows how to avoid taxes... that's why his effective rate is under 15%.
And actually, it turns out -- as we learned during the election -- the Mittster siphons his cash to off-shore accounts where he hides it.
We should go back to the "good ol' days."
Those guys paid above 80% income taxes.
And not a one starved to death.
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KGB-NP
Joined: 25 Jul 2001
Posts: 2856
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| Posted: Wed Jan 22, 2014 1:39 pm Post subject: |
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I think you should be taxed 80% because you're wealthier than 90+% of the people on this planet....sounds good, right? The government could take that money and spread over the entire planet and when we're all about even we can go back to reasonable taxation....good plan, right? You first though.
While Romney used an axe to get wealthy there are lots who did so creating a ton of jobs in the process. There should be "some" incentive to do so, right?
Removing the tax loop holes is the reasonable answer and then the graduated / progressive tax system works well. The rest is in the hands of the IRS to enforce the laws that are already in place to penalize the tax cheats.
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The universe is made up of proton, neutrons, electrons, and morons. |
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swchandler
Joined: 08 Nov 1993
Posts: 10588
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| Posted: Wed Jan 22, 2014 1:54 pm Post subject: |
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I had a rental condo at one time for about 15 years, which I depreciated over time to balance the losses because the rent was less than the mortgage. In the end of a more or less a break even venture, I sold the condo and PAID 15% capital gains on the total sales price. Boy am I glad it was only 15% to keep from being stung by an even greater loss."
Really, you're talking about a couple things that aren't necessarily related. Financially managing income property over time is one thing, but the financial appreciation of property over time is another thing entirely. Seemingly, you sold at a profit.
Regarding taxation of capital gains, wouldn't that be limited to just the appreciation in value? |
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isobars
Joined: 12 Dec 1999
Posts: 20935
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| Posted: Wed Jan 22, 2014 1:58 pm Post subject: |
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| reinerehlers wrote: | | While Romney used an axe to get wealthy there are lots who did so creating a ton of jobs in the process. |
Romney created > 10,000 jobs by the LOWEST estimates (not counting union attack ads). Add to that the thousands of jobs he saved by laying off hundreds to save some companies from bankruptcy (the reason he likes being ABLE to fire people), and he's got a pretty good jobs record. Add Staples and Sports Authority and their debatable tens of thousands, and he's got a very good jobs record ... many times better than Obama's considering all his resources, pool size, and empty promises. |
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pueno
Joined: 03 Mar 2007
Posts: 2807
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| Posted: Wed Jan 22, 2014 2:02 pm Post subject: |
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| reinerehlers wrote: |
Removing the tax loop holes is the reasonable answer and then the graduated / progressive tax system works well. The rest is in the hands of the IRS to enforce the laws that are already in place to penalize the tax cheats. |
That's certainly in the right direction.
| Mr. Fick-shun wrote: |
Romney created > 10,000 jobs by the LOWEST estimates (not counting union attack ads). |
Yes, Mikey..... in China.
| Mr. Fick-shun wrote: | | ... many times better than Obama's considering all his resources, pool size, and empty promises. |
Oh, Mikey, Mikey, Mikey....
How soon we forget the US auto industry that Obama saved but Mitt wanted to bankrupt and close down.
It's astonishing how hard you try to reinvent the truth.
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isobars
Joined: 12 Dec 1999
Posts: 20935
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| Posted: Wed Jan 22, 2014 2:10 pm Post subject: |
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| reinerehlers wrote: | | Removing the tax loop holes is the reasonable answer and then the graduated / progressive tax system works well. The rest is in the hands of the IRS to enforce the laws that are already in place to penalize the tax cheats. |
The Fair Tax solves those two problems plus 74,000 pages of OTHER problems plus the cost of 100,000 IRS employees plus the cost of many thousands of tax lawyers plus the 5 to 6 billion hours Americans spend doing their taxes each year. |
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pueno
Joined: 03 Mar 2007
Posts: 2807
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| Posted: Wed Jan 22, 2014 3:03 pm Post subject: |
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| Mr. Fick-shun wrote: |
The Fair Tax solves those two problems plus 74,000 pages of OTHER problems plus the cost of 100,000 IRS employees plus the cost of many thousands of tax lawyers plus the 5 to 6 billion hours Americans spend doing their taxes each year. |
And by your calculus, Mikey, it cures cancer, too.
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mac
Joined: 07 Mar 1999
Posts: 17748
Location: Berkeley, California
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| Posted: Wed Jan 22, 2014 3:18 pm Post subject: |
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I strongly agree that the tax code needs work. Republicans were unwilling to do so if it added a dollar of revenue--or made Obama look good. Particularly unwilling to roll up their sleeves were tin hats from the Tea Party, who apparently believe that governmental services should be free--or we should just plant some more money trees.
Those Republicans who can actually do math are busy trying to get the government to sell off its assets. That's how Russia created a new generation of oligarchs and home-grown crime syndicates virtually overnight. |
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