So I was reading an op ed yesterday that put some things into perspective.
Mitt Romney paid something like an overall 14% tax rate for 2010.
Guess how much he would have paid under the Ryan plan?
0.82%
Thank you Mitt Romney, for nominating Paul Ryan. You basically validated the Occupy movement. And you validated every claim that dems can make between now and election day that the republicans are waging class warfare on the middle class.
But at least Bill Kristol is happy again![]()
^^^ Not only that, in the Ryan plan, people who earn over $250,000./yr. get a free car elevator. I heard it from a Bain investor.
I saw that about Romney taxes with Ryan's tax plan. Seems like spin to me...the same sort of spin that suggests Ryan will be pushing all the silverhairs over the cliff.
First of all...I dont expect any tax plan from Republicans that goes beyond the Bush Tax cuts. There might be something around corporate rates and maybe dividends but hardly anything that will apply to Romney if he's President for goodness sake.
Hey. Romney might even work for 1 dollar per year as President.
LOL. Wait. The election is now framed for us. Oh man.
http://www.thegatewaypundit.com/2012...e-choom-wagon/
I don't see how its spin, its just simple math. Ryan's plan calls for essentially 0% tax on capital gains. Almost all of Romney's income is from capital Gains. Right now capital gains tax is 15% and that's just about what Romney paid in 2010.
Pushing silverhairs off of a cliff? Yeah that's spin. Turning Medicare into a voucher program? That's truth.
People can nit-pik over the Ryan plan but you do realize that without a drastically different plan, we are in the process of driving over a financial cliff. You like Obama's plan better? Let's spend money on companies with flawed business plans, schooling illegals, working without a budget, and while we are at it greatly increasing the reach of government into healthcare and commerce.![]()
^^^^ But but but but wah about all the new "Gween Jobs" Obambi promised?
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I don't think capital gains/dividends/investment income should be taxed at all. Corporations pay a tax on their profits, so when they give those profits back to their shareholders, why is that taxed again? It's double taxation.
If you buy a second house or some shares of Apple stock, and then sell them and make a profit, why does the government get a share of that? I'm pretty sure the government didn't have hand in that unless they're teaching wealth management in high schools now.
And capital gains taxes affect everyone equally. Mitt Romney pays (currently) 15% and Joe Blow the janitor pays 15%. Despite the rhetoric from the left, there isn't a second tax system for the rich.
As I said previously, getting rid of the capital gains tax has been on my wish list forever. Since Clinton cut the capital gains tax, I had hopes that Obama might be open to cutting it as well, but considering the current climate and all this focus on Warren Buffett and Mitt Romney's taxes, I doubt it'll happen.
By the way, Gallup did a poll where they asked people how much income tax people making over $250,000 should pay. The most popular answer was 20%.![]()
Last edited by Keven; 08-12-2012 at 01:22 PM.
Good! I've always thought capitol gains taxes were bs anyway. Along with estate taxes, luxury taxes, ownership taxes, income taxes, gift taxes, alcohol and cig taxes, unemployment taxes, user fees, and probably many more I've forgotten or haven't even heard of. They can keep sales and real estate taxes though as long as they actually use them for their intended purposes.
Oh, they are there Steve! Why just look how much California has prospered with a combination of green jobs, high taxes, and large inflow of illegals! The economy is booming! What do you mean the companies left and the Chinese make much cheaper solar panels and you'd better not need to go to the hospital there?![]()
It's gotten so pathetically hostile towards business in California that now even Hollywood is outsourcing their work to other more "tax friendly" states. I read that the main reason "Breaking Bad" is filmed in New Mexico is because of the tax breaks they get there. Guess what? New Mexico is looking a HELL of a lot better now than it did just ten years ago. I used to drive through there from Colorado on the way to vacations in Arizona and I couldn't wait to get out of that hole of a state. Last year while driving through Albuquerque though I noticed a new, excellent highway system, roads as smooth as glass, and a lot of new construction in the northern part of the city. It was actually....nice there!It's amazing what smart leadership can do for a city. That and offering large companies and Hollywood great incentives to locate there.