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Wed Jan 2, 2013, 10:19 AM

Obama caved and raised Mitt Rmoney's taxes

What a revolting turn of events...


17 replies, 1207 views

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Arrow 17 replies Author Time Post
Reply Obama caved and raised Mitt Rmoney's taxes (Original post)
jpak Jan 2013 OP
riqster Jan 2013 #1
jpak Jan 2013 #2
BlueStreak Jan 2013 #3
msanthrope Jan 2013 #5
bongbong Jan 2013 #15
BlueStreak Jan 2013 #17
Odin2005 Jan 2013 #4
madokie Jan 2013 #6
Comrade_McKenzie Jan 2013 #7
theKed Jan 2013 #8
pepperbear Jan 2013 #9
jpak Jan 2013 #10
rateyes Jan 2013 #11
ecstatic Jan 2013 #12
jpak Jan 2013 #13
SDjack Jan 2013 #14
Enrique Jan 2013 #16

Response to jpak (Original post)

Wed Jan 2, 2013, 10:21 AM

1. It's a trap! ONOES!!!!!!

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Response to riqster (Reply #1)

Wed Jan 2, 2013, 10:24 AM

2. ****snap****

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Response to jpak (Original post)

Wed Jan 2, 2013, 10:25 AM

3. It just means Romney will work a little harder to shelter more of his income

There wasn't a single paragraph, not a single word in that agreement that deals with the real problem of the untra-rich, which is their ability to pay ZERO TAXES on most of the income through complex sheltering schemes.

That $600Bn of revenue is bogus. The 0.1% will just pay their lawyers and accountants a little mroe to get more aggressive in sheltering their money.

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Response to BlueStreak (Reply #3)

Wed Jan 2, 2013, 10:29 AM

5. Capital gains went up. More difficult to shelter. That's the big money. nt

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Response to msanthrope (Reply #5)

Wed Jan 2, 2013, 12:33 PM

15. Yes and no

 

If you've got lots of dough, capital gains are arguably easier to hide than ordinary income.

The basic plan is to create more corporations (shells) that interact with the profitable existing corporation(s) you own to lower the tax bite. Why do you think Flip-Flopper and his wife own/control dozens of shell corporations? This is repeated thousands of times thruout corporate America.

The question of "who will pay more, and who will pay less?" should actually be re-phrased as "Are the costs of setting up shells, hiring tax-avoidance advisors, etc small or large relative to the taxes you will save by doing it?"

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Response to bongbong (Reply #15)

Wed Jan 2, 2013, 01:59 PM

17. Exactly right. I suspect most of the people at DU who are ignorant about this

were not adults when Enron happened. Enron was just a small indicator of the corporate shell games that had become a huge industry of (marginally) legal tax evasion.

But that is no excuse. Even if a person didn't learn any lessons from Enron, they certainly have every opportunity to look at all the "Son of boss", "blocking corporations" and other tax evasion games that Romney plays. And again, it isn't about Romney. This is how ALL the 0.1% operate.

The marginal tax rate, and largely the dividend and cap gains rates, really don't mean much. When you can hide your money from ANY taxation, the rate doesn't matter.

Eventually they will want to get their money out of those sham corporations and other shelters, but they figure can hold on a few years until the political climate is more favorable for creating new loopholes for them.

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Response to jpak (Original post)

Wed Jan 2, 2013, 10:26 AM

4. Obama sold us out!

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Response to jpak (Original post)

Wed Jan 2, 2013, 10:29 AM

6. What to do, what to do

What will he do next??? (-;

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Response to jpak (Original post)

Wed Jan 2, 2013, 10:32 AM

7. Don't forget Bernie Sanders' betrayal, LOL. nt

 

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Response to jpak (Original post)

Wed Jan 2, 2013, 10:34 AM

8. How COULD he!

Mitt's unemployed! That's just....just....



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Response to jpak (Original post)

Wed Jan 2, 2013, 10:37 AM

9. That's 1/2 of 1/3 of a Bentley that Mitt would never have seen anyway.

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Response to pepperbear (Reply #9)

Wed Jan 2, 2013, 10:41 AM

10. Because Obama caved to the GOP 1% - the DOW is going UP UP UP!!!!!11111

They are making teh more Money!!!11

It's a conspiracy....series!!!111



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Response to jpak (Original post)

Wed Jan 2, 2013, 10:54 AM

11. what taxes?

Romney doesnt pay taxes

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Response to rateyes (Reply #11)

Wed Jan 2, 2013, 10:59 AM

12. +1000. That disgusting snake

is only interested in taking from this country. The day he's forced to contribute will be the day he moves to another country.

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Response to rateyes (Reply #11)

Wed Jan 2, 2013, 11:01 AM

13. He paid 14% - now he will pay 20%

so sorry

yup

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Response to jpak (Reply #13)

Wed Jan 2, 2013, 11:44 AM

14. Now, the a**hole will stop creating jobs!!! nt

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Response to jpak (Original post)

Wed Jan 2, 2013, 12:37 PM

16. i'll be able to see my tax returns

so I know my taxes were raised.

Not sure about Mitt's, I'll have to take that on faith.

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