Tue Jan 24, 2012, 09:22 PM
Galraedia (3,794 posts)
Conservatives Are Now Changing Their Tax Story Because Of Romney
Now that Romney unveiled he pays less of a percentage in taxes than you tip the waitress at the local diner, conservatives are now changing their tune regarding capital gains and corporate taxes.
For years and years, conservatives have consistently told the American people that raising taxes on corporations essentially was raising taxes on the consumer. Their story was that all taxes are passed onto the consumer in order to keep the after tax profit margin the same for their investors, right?
Now with the revelation of Mitt’s 13.9% tax rate, they are saying that capital gains taxes are essentially “double taxation”. This is because all profits belong to the investor and a corporate tax reduces the how much of a dividend check is cut for Mitt Romney. So Mitt would have a bigger dividend check if corporate taxes were low.
Read more: http://www.politicususa.com/en/conservatives-are-now-changing-their-tax-story-because-of-romney
4 replies, 950 views
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Conservatives Are Now Changing Their Tax Story Because Of Romney (Original post)
|Angry Dragon||Jan 2012||#1|
|Electric Monk||Jan 2012||#2|
Response to Galraedia (Original post)
Tue Jan 24, 2012, 10:33 PM
EC (12,287 posts)
3. Well, if the corp is a person
in and of itself, it should pay it's share of taxes, as should all the other persons who partnered with the corp. Meaning Romney.
Response to EC (Reply #3)
Wed Jan 25, 2012, 01:09 AM
JDPriestly (47,728 posts)
4. An investor does not partner with the corporation.
An investor in a corporation and that corporation are, in the eyes of the law, two separate "persons." There are advantages, many advantages in being an investor in and not the owner of a company, especially when it comes to paying the debts of the corporation.
A partner belongs and is a co-owner of a partnership. The partnership (not talking about limited partnerships) is not a separate entity. The partners pay their taxes as individuals, but the partnership is not separately taxed.