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ProSense

(116,464 posts) Sun Sep 23, 2012, 10:15 PM Sep 2012

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

Mitt Romney: It's fair I pay a lower tax rate than people making $50,000

by Jed Lewison

Hot damn, he is the gift that keeps on giving:

Pelley: Now, you made on your investments, personally, about $20 million last year. And you paid 14 percent in federal taxes. That's the capital gains rate. Is that fair to the guy who makes $50,000 and paid a higher rate than you did?

Romney: It is a low rate. And one of the reasons why the capital gains tax rate is lower is because capital has already been taxed once at the corporate level, as high as 35 percent.

Pelley: So you think it is fair?

Romney: Yeah, I think it's the right way to encourage economic growth, to get people to invest, to start businesses, to put people to work.

In Mitt Romney's world, the only people that matter are the people that start businesses. The poor schlubs who shop at them just don't count. And before you complain about him wanting business owners to pay lower taxes than their customers, just pause for a moment and be glad he's willing to pay any taxes at all.

http://www.dailykos.com/story/2012/09/23/1135658/-Mitt-Romney-It-s-fair-I-pay-a-lower-tax-rate-than-people-making-50-000

Mitt looks like he's having a meltdown in that clip.

101 replies

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Highlight:

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