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The Velveteen Ocelot

(131,758 posts)

1. Middle class people don't have $25K of deductions.

Reply to GaYellowDawg (Original post)

Wed Oct 17, 2012, 12:49 AM

Oct 2012

He also wants to reduce taxes on capital gains, interest and dividends because - he says - these reductions will help the middle class. Really? How nice. Mittens, people whose gross income is $50K or so don't have income from capital gains, interest and dividends! Their income is their wages from their shitty job, taxed at the higher ordinary income rate.

He really has no clue, does he? Bet he hasn't been taxed on ordinary income in many years.

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No one's mentioned this little disconnect from reality by Rmoney [View all] GaYellowDawg Oct 2012 OP

Middle class people don't have $25K of deductions. The Velveteen Ocelot Oct 2012 #1

Hell, mine don't even meet the standard! ananda Oct 2012 #2

Don't forget to include your PORTFOLIO!! Barack_America Oct 2012 #3

Not to mention dividends and shit. Bobbie Jo Oct 2012 #10

He was trying not to scare the shit out of all of his rich friends. Blue Idaho Oct 2012 #4

Last time he said $17,000 Angry Dragon Oct 2012 #5

+1000 tk2kewl Oct 2012 #8

Thank you Angry Dragon Oct 2012 #17

You're starting to act like Mitt, there. Ikonoklast Oct 2012 #28

His friends do. Nt okieinpain Oct 2012 #6

And that interest deduction woopfuckingee. 20 cents annually if get lucky. lonestarnot Oct 2012 #7

homeowners in high property tax states unblock Oct 2012 #9

You only deduct a percentage of your sunnystarr Oct 2012 #18

And he even said "let's pick a number" !! And yes, now that you mention it-- Dang Big Number! Overseas Oct 2012 #11

Well, once those tax breaks on your capital gains hit your bank account, you'll be rich! proud2BlibKansan Oct 2012 #12

He wasn't taking about or to "You people" tavalon Oct 2012 #13

I Immediately Caught That Myself ChoppinBroccoli Oct 2012 #14

Maybe one year one might have it, if paying for a big one time expense, ecstatic Oct 2012 #15

I couldn't believe that he said that. JDPriestly Oct 2012 #16

caught that one too Duppers Oct 2012 #19

He obviously thought that number would appeal to the middle class AgingAmerican Oct 2012 #20

90% have little more than that to live on Tigress DEM Oct 2012 #21

If You Have a Relatively New Mortgage On the Road Oct 2012 #22

Preceding that he said, "let's pick a number, any number. Let's say, oh, $________" - Native Oct 2012 #23

It's more than my entire salary. intheflow Oct 2012 #24

He also claimed in so many words that middle class would not pay capital gains taxes lindysalsagal Oct 2012 #25

That's more than what I make in a year. Terra Alta Oct 2012 #26

This dumb fuck has been all over the place flyguyjake Oct 2012 #27