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JDPriestly

(57,936 posts)

43. Romney's tax rate would not be that much higher if he added in his payroll and income taxes.

Mon Sep 24, 2012, 12:55 AM

Sep 2012

No way because the tax rate is a percentage, and the amount that Romney would pay in payroll taxes as a percentage of his overall income would be tiny. Counting that as taxes paid would not increase the percentage of his income that he pays in taxes by much at all.

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Mitt Romney: It's fair I pay a lower tax rate than people making $50,000 [View all] ProSense Sep 2012 OP

Someone should ask Mitt, are capital gains more important than labor? If not, why tax them different reformist2 Sep 2012 #1

He answered that question Aerows Sep 2012 #67

How is investment income considered already taxed? What a crock'o'shit. geckosfeet Sep 2012 #2

That's what I think, too. Tennessee Gal Sep 2012 #12

The problem with lying Aerows Sep 2012 #69

ALL money has already been taxed!!!! When you get it as income, it gets taxed again. valerief Sep 2012 #3

that's not technically true, although i certainly agree all income should be taxed the same. unblock Sep 2012 #34

Thanks for the specifics. nt valerief Sep 2012 #90

The top corporate tax rate may indeed be 35% tularetom Sep 2012 #4

You'd have to be a complete fucking moron to believe Romney Major Nikon Sep 2012 #15

Where did I say I believed Romney? tularetom Sep 2012 #81

I mean "you" in the general sense, not you particularly Major Nikon Sep 2012 #82

bain is an LLC Mosby Sep 2012 #96

The EFFECTIVE corporate tax rate is 12.1; many huge corporations (like GE) pay zero. SunSeeker Sep 2012 #27

Keep digging, buddy Incitatus Sep 2012 #5

Romney is full of crap regardng the money already being taxed once SickOfTheOnePct Sep 2012 #6

The effective tax rate of someone ProSense Sep 2012 #7

I'd be curious to see where you get 16.6% figure SickOfTheOnePct Sep 2012 #8

First, ProSense Sep 2012 #17

Effective income tax rate is a standard calculation SickOfTheOnePct Sep 2012 #20

And you ProSense Sep 2012 #24

I'm sorry that you don't like facts SickOfTheOnePct Sep 2012 #29

Who cares what it includes? ProSense Sep 2012 #30

Who cares what it includes? SickOfTheOnePct Sep 2012 #35

There you go ProSense Sep 2012 #42

And who said they didn't pay federal taxes? SickOfTheOnePct Sep 2012 #47

Fact: ProSense Sep 2012 #57

Yep, and here's another fact SickOfTheOnePct Sep 2012 #61

Wrong ProSense Sep 2012 #65

Yes, you're wrong SickOfTheOnePct Sep 2012 #70

So you're back to that argument? ProSense Sep 2012 #72

Romney's capital gains income (the majority of his income) is not subject to payroll taxes. JDPriestly Sep 2012 #41

A person making 50,000, in my experience, will have between 28 and 33% of that withheld. DLnyc Sep 2012 #9

Then compare apples to apples and not to oranges SickOfTheOnePct Sep 2012 #10

Okay, sort of. DLnyc Sep 2012 #14

Fair enough SickOfTheOnePct Sep 2012 #16

Romney released a bullshit return ProSense Sep 2012 #18

Absolutely, they manipulated the charitable deductions SickOfTheOnePct Sep 2012 #23

No, it doesn't ProSense Sep 2012 #25

Using two different calculations SickOfTheOnePct Sep 2012 #31

You need to stop projecting. ProSense Sep 2012 #36

Not projecting, just giving you the facts SickOfTheOnePct Sep 2012 #39

It's all there on the same form 1040 starroute Sep 2012 #22

Only the self employed have to pay SickOfTheOnePct Sep 2012 #26

It just struck me, ProSense Sep 2012 #28

47% of wage earners don't pay federal income tax SickOfTheOnePct Sep 2012 #33

They pay taxes. That's the friggin point. ProSense Sep 2012 #40

Who said they didn't pay taxes? SickOfTheOnePct Sep 2012 #44

& 1/3 of those people make less than $10K a year. about 500,000 make over $100K. HiPointDem Sep 2012 #51

I'm not arguing that they should pay federal income tax SickOfTheOnePct Sep 2012 #56

Here are a couple of charts from your link ProSense Sep 2012 #55

OK SickOfTheOnePct Sep 2012 #59

First, ProSense Sep 2012 #62

What I know is SickOfTheOnePct Sep 2012 #66

I don't think that 47% of wage-earners pay no taxes. JDPriestly Sep 2012 #50

It's 47% of households n/t SickOfTheOnePct Sep 2012 #68

You said "wage earners," but ProSense Sep 2012 #74

I thougth it was wage earners SickOfTheOnePct Sep 2012 #75

So you're wrong ProSense Sep 2012 #77

What does that say about "the wage"? King_Klonopin Sep 2012 #97

You're right -- I've paid self-employment tax for so long I didn't realize starroute Sep 2012 #93

Not necessarily. If you added Romney's SS & Medicare to the tally, it wouldn't budge the number dorkulon Sep 2012 #94

Romney's tax rate would not be that much higher if he added in his payroll and income taxes. JDPriestly Sep 2012 #43

I agree 100% SickOfTheOnePct Sep 2012 #45

what payroll taxes would he have? is he someone's employee? HiPointDem Sep 2012 #49

If he were subject to payroll taxes, it would not change the percentage of his income that JDPriestly Sep 2012 #95

If you include payroll taxes they did. grantcart Sep 2012 #19

Payroll taxes aren't included SickOfTheOnePct Sep 2012 #21

So, include the amount Romney pays in payroll taxes and see how much difference it makes -- none. JDPriestly Sep 2012 #53

lol you sure put a lot of effort into this. In your earlier post you did not specify a specific grantcart Sep 2012 #89

So why doesn't the same logic apply to labor? Why doesn't it "discourage work" when you tax Marr Sep 2012 #11

When you get to a certain point, it does SickOfTheOnePct Sep 2012 #13

ay yi yi yah Hutzpa Sep 2012 #32

gee, my income was already taxed when i earned it, so why should i pay sales tax when i spend it? unblock Sep 2012 #37

:D lexw Sep 2012 #38

To encourage people to invest? In what cayman island accounts? abelenkpe Sep 2012 #46

what? capital has already been taxed at the corporate level? can someone explain to me HiPointDem Sep 2012 #48

Capital gains are profits SickOfTheOnePct Sep 2012 #52

profit = what remains after expenses, including taxes, is my understanding. HiPointDem Sep 2012 #54

He is so glad I didn't interview him jmowreader Sep 2012 #58

My Friend Pays Around 60% StevePaulson Sep 2012 #60

No doubt your friend pays a higher percentage than Romney SickOfTheOnePct Sep 2012 #63

It's really lovely that you express so much concern Aerows Sep 2012 #71

Sorry that you don't like facts SickOfTheOnePct Sep 2012 #73

What facts? ProSense Sep 2012 #76

I consider IRS tax tables SickOfTheOnePct Sep 2012 #78

Sure ProSense Sep 2012 #80

This guy is "concerned" Aerows Sep 2012 #84

I haven't heard a fact yet, either Aerows Sep 2012 #83

I was about to argue with you Aerows Sep 2012 #87

If this guy Aerows Sep 2012 #64

You would think they would have learned with McStain that Americans don't want to hear that bullshit trouble.smith Sep 2012 #79

There is apparently something "you people" just don't get. MADem Sep 2012 #85

But we LABOR, Mr. Romney. We LA-BOR Th1onein Sep 2012 #86

I get taxed on my income. If I buy goods and services with my after-tax income... JHB Sep 2012 #88

Wow....what "brass" this clown has. nt SoapBox Sep 2012 #91

Republicans have always pushed for zero capital gains tax. Spitfire of ATJ Sep 2012 #92

Same old trickle down shit. Third Doctor Sep 2012 #98

so what has mitt romney done to 'start a business' or 'put people to work' ? nothing. spanone Sep 2012 #99

RMONEY IS HIDING BEHIND A BIG FAT MYTH drynberg Sep 2012 #100

Um...no one is asking the obvious question... CJCRANE Sep 2012 #101