Romney Says He Paid at Least 13% Taxes for 10 Years | TigerDroppings.com

Posted byMessage
NHTIGER
LSU Fan
Central New Hampshire
Member since Nov 2003
9690 posts
 Online 

Romney Says He Paid at Least 13% Taxes for 10 Years



LINK

"I did go back and look at my taxes, and over the last 10 years, I never paid less than 13 percent," Romney told journalists in Greer, S.C. "I think the most recent year is 13.6 or something like that," he added.

Romney also said that when charitable donations were taken into account, his tax rate has been above 20 percent."







Back to top
Share:
Anodyne
LSU Fan
Member since Oct 2011
2162 posts

re: Romney Says He Paid at Least 13% Taxes for 10 Years


Love the Obama commercial running right now that states that Romney made $20m in 2010 and only paid a 14% tax rate.

That means that he paid $2.8m to the government in one year.

A person making $100K per year paying 35% in taxes (which no one does) means that person would pay $35K in taxes in a given year.

This means that person earning a 6 figure salary would have to make pay $35K per year to the government for 80 F'n years to equal the input into the government that Romney did in 1 Year!!!







Back to top
John McClane
New Orleans Saints Fan
Member since Apr 2010
25180 posts
 Online 

re: Romney Says He Paid at Least 13% Taxes for 10 Years


Oh yeah....well....um.... He needs to pay his fair share!

Whatever that means






Back to top
CamdenTiger
Member since Aug 2009
27648 posts
 Online 

re: Romney Says He Paid at Least 13% Taxes for 10 Years


Guys like him live off stock/capital gains. With his write-offs, should be between 13-15%...





Back to top
  Replies (0)
PRK
LSU Fan
Member since Sep 2009
8843 posts

re: Romney Says He Paid at Least 13% Taxes for 10 Years


quote:

Love the Obama commercial running right now that states that Romney made $20m in 2010 and only paid a 14% tax rate.

That means that he paid $2.8m to the government in one year.


Class is in session.

ETA: Washington Post clarifies further LINK



This post was edited on 8/16 at 3:11 pm


Back to top
udtiger
LSU Fan
Louisiana
Member since Nov 2006
25593 posts
 Online 

re: Romney Says He Paid at Least 13% Taxes for 10 Years


quote:

Oh yeah....well....um.... He needs to pay his fair share!


Anything over $5 million is too much. All the rest should go to government.

Because, you know...LINK







Back to top
  Replies (0)
90proofprofessional
LSU Fan
Member since Mar 2004
9185 posts

re: Romney Says He Paid at Least 13% Taxes for 10 Years


quote:

Class is in session.

you've got to be kidding me






Back to top
  Replies (0)
Taxing Authority
LSU Fan
Houston
Member since Feb 2010
22907 posts

re: Romney Says He Paid at Least 13% Taxes for 10 Years


quote:

A person making $100K per year paying 35% in taxes (which no one does) means that person would pay $35K in taxes in a given year.
Nor how our marginal rates work. Someone makin 100k with two kids and a mortgage is probably paying abut the same rate (possibly lower) than Romney.






Back to top
  Replies (0)
ZZTIGERS
Miami (OH) Fan
Member since Dec 2007
11470 posts
 Online 

re: Romney Says He Paid at Least 13% Taxes for 10 Years


Admittedly, I haven't paid too close attention to this whole tax return bull shite. Deflection to shite like this, is one of the things that turns me off to politics.

Are people accusing Romney of actually cheating on taxes, hiding income, making up deductions, something actually criminal.......

Or, are they attacking him for taking advantage of tax laws, deductions, legal loopholes, if you will, that allows him to pay less in federal taxes? Something not criminal.






Back to top
DapperDan
LSU Fan
Member since Jul 2012
1226 posts

re: Romney Says He Paid at Least 13% Taxes for 10 Years


Um. The effective rate is 14%. meaning a percentage of his total income. Your marginal income tax rate "class" isn't necessary. You do know what an effective rate is, right? Or do we need to have a class?





Back to top
Newbomb Turk
Navy Fan
perfectanschlagen
Member since May 2008
9961 posts

re: Romney Says He Paid at Least 13% Taxes for 10 Years


quote:

Class is in session.


Do yourself a big favor and look for another source to take classes. The WaPo is pretty damn ignorant.


quote:

Daniel Shavior, a professor of tax policy at NYU, made the same point. “The key question here is 13.9 % of what. We know he paid zero tax at the capital gains rate in 2009, since he had loss carryovers for 2010. So he may have had ridiculously low adjusted gross income (AGI), relative to his economic income for the year.”


Maybe Poodlebrain can chime in here, but for Romney's personal taxes, wouldn't he have been limited to $3,000 of capital losses in any one year?






Back to top
90proofprofessional
LSU Fan
Member since Mar 2004
9185 posts

re: Romney Says He Paid at Least 13% Taxes for 10 Years


quote:

ETA: Washington Post clarifies further LINK

has nothing to do with your epic fail of a smartass post about marginal rates

clearly he is saying that it's been ~13% of taxable, ~20% of unadjusted income.

also, i find that klein looks pretty hackish with his "well why don't you prove it" thing, right after saying he doesn't care. he used to be better than that. he just added a frankly much better, smarter and less hackish guy to that blog, evan soltas. he should take it over. he's great, even though he leans left.






Back to top
NHTIGER
LSU Fan
Central New Hampshire
Member since Nov 2003
9690 posts
 Online 

re: Romney Says He Paid at Least 13% Taxes for 10 Years


quote:

Admittedly, I haven't paid too close attention to this whole tax return bull shite. Deflection to shite like this, is one of the things that turns me off to politics.




For him to flat out state that he has paid this level of taxes for the past 10 years is simply his way of flipping off Reid. He is a very pragmatic guy and the fact that he made this declarative statement in plain English and in a straightforward manner means either Reid's make-believe source was a sham or Romney is lying to the people directly. Knowing someone at IRS could leak his returns and if his statement proves false his run at the Presidency is over, I feel quite confident he knows his statement is factually correct.






Back to top
  Replies (0)
CptBengal
USA Fan
BR Baby
Member since Dec 2007
39771 posts

re: Romney Says He Paid at Least 13% Taxes for 10 Years


quote:

Washington Post clarifies


anybody notice how much the MSM has to "clarify" for Obama?

I mean as the such a great orator, you would think he wouldn;t need so much clarification.






Back to top
Newbomb Turk
Navy Fan
perfectanschlagen
Member since May 2008
9961 posts

re: Romney Says He Paid at Least 13% Taxes for 10 Years


quote:

Um. The effective rate is 14%. meaning a percentage of his total income. Your marginal income tax rate "class" isn't necessary. You do know what an effective rate is, right? Or do we need to have a class?


As the tax returns that are out there clearly illustrate, this is how Romney pays "less than 15%"

First, over 80% of his total income is capital gains and dividend income. That's taxed at no more than 15%. The rest of his EARNED income is taxed like everyone else. However, in Romney's case, he makes huge charitable deductions. While is top marginal rate goes to 35%, he still gets to take advantage of the marginal tax rates of the first dollars he earns. So, while his marginal rate on his EARNINGS is 35%, his average rate is much lower. Throw in his huge charitable contributions and you have an AVERAGE rate of less than 15%.

Of course, what the mainstream media KNOWS and refuses to tell you is that the rate he pays on his EARNED income is right off the same progressive charts that you and I pay on. If it weren't for his huge charitable contributions, his marginal rate on his EARNED income would definitely be 35%, and his average rate would approach that as he's been paying over $200K in alternative minimum tax.






Back to top
  Replies (0)
Chimlim
LSU Fan
Baton Rouge, LA
Member since Jul 2005
11583 posts
 Online 

re: Romney Says He Paid at Least 13% Taxes for 10 Years


Did you read some of the comments on that article? Man these people are totally obsessed with what Romney did with his own money.





Back to top
  Replies (0)
Northwestern tiger
New Orleans Saints Fan
UT-Southwestern
Member since Oct 2005
16692 posts

re: Romney Says He Paid at Least 13% Taxes for 10 Years


quote:

I did go back and look at my taxes, and over the last 10 years, I never paid less than 13 percent,"


Prove it Mitt






Back to top
  Replies (0)
PRK
LSU Fan
Member since Sep 2009
8843 posts

re: Romney Says He Paid at Least 13% Taxes for 10 Years


quote:

has nothing to do with your epic fail of a smartass post about marginal rates



You still don't understand. Use the two links in combination. I don't think it's irresponsible to use every legal advantage to pay less in taxes. What I do have a problem with is pretending like the rich are overtaxed, or the inexplicable refusal to just settle this once and for all by releasing his returns. It should, and does, make the public suspicious.

ETA: Klein has a point. Even if you don't give two shits about Romney's taxes, you have to be baffled by the way he's handled this. Just release it, or shut up Mitt. You're hurting yourself (not that I mind).



This post was edited on 8/16 at 3:31 pm


Back to top
ottothewise
LSU Fan
Member since Sep 2008
32094 posts

re: Romney Says He Paid at Least 13% Taxes for 10 Years


quote:

the inexplicable refusal to just settle this once and for all by releasing his returns. It should, and does, make the public suspicious.


talk is cheap.

his own father told us we should get to see many consecutive years.

he's hiding more than tax returns. he wont even take a stand on the Ryan budget. He's for SOME voucher amount. mystery meat.






Back to top
90proofprofessional
LSU Fan
Member since Mar 2004
9185 posts

re: Romney Says He Paid at Least 13% Taxes for 10 Years


quote:

You still don't understand.

Don't blame me for your incoherent presentation of your argument.






Back to top
  Replies (0)


Back to top