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(Reuters) Dumbass Romney: "Did I say that I paid 15%? I actually used a sophisticated series of off-shore financial instruments to avoid paying taxes altogether. I technically qualified for the earned income tax credit in 2008. My bad"   (reuters.com) divider line 169
More: Dumbass, financial instruments, income taxes, romney, Tax Analysts, capital gains taxes, carried interest, tax filings, Internal Revenue Code  
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5118 clicks; posted to Politics » on 18 Jan 2012 at 12:24 PM   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»   |    Get this fabulous T-Shirt and impress the methane out of your friends! shirt it!



169 Comments   (+0 »)
   
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2012-01-18 10:49:28 AM
Rich people don't pay taxes. Taxes are for suckers and working people.
 
2012-01-18 10:54:33 AM
27.media.tumblr.com

"Avoision, it's a crime, look it up"
 
2012-01-18 10:55:44 AM
WTF Indeed: Rich people don't pay taxes. Taxes are for suckers and working people.

I have 6 political thread tabs going, and yours is the only post. This is messed up.
 
2012-01-18 11:02:23 AM
WTF Indeed: Rich people don't pay taxes. Taxes are for suckers and working people.

CLASS WARFARE!!!!!
 
2012-01-18 11:02:43 AM
Maybe if you lazy lazy libbos worked hard and ACHIEVED then you too could use sophisticated offshore tax shelters to reduce your tax burden. As it stands, your sloth and laziness should be penalized with lower incomes and higher taxes. If you try and stop us, me and Mitt will GO GALT and live together under a Joshua Tree holding each other to the end of time and you'll have to create your own sophisticated offshore tax shelters. Not so smart now are you?
 
2012-01-18 11:04:06 AM
People are going to be upset enough when he releases his current tax return, which he has had time to massage to make look better.

I would love to see him forced to release tax returns for the last 5-10 years. I would put good money on seeing a lot of differences between the one he would make public and the 'private' ones from the last few years.

Anybody want to predict the shiatstorm hitting then?
 
2012-01-18 11:14:31 AM
It's so much fun watching this windsock squirm around trying to explain this while he's on record saying the middle classes should pay more in taxes to "have skin in the game".

He's the epitome of a 1%er... and I'm not talking about outlaw bikers, either.
 
2012-01-18 11:22:56 AM
mrshowrules: WTF Indeed: Rich people don't pay taxes. Taxes are for suckers and working people.

I have 6 political thread tabs going, and yours is the only post. This is messed up.


Maybe you should hit "F5" once in a while. ;)
 
2012-01-18 11:23:03 AM
mrshowrules: WTF Indeed: Rich people don't pay taxes. Taxes are for suckers and working people.

I have 6 political thread tabs going, and yours is the only post. This is messed up.


Only post what?
 
2012-01-18 11:28:00 AM
The sad thing is that many people think the solution to this sort of tax evasion is to lower taxes even more on the wealthy so that they'll be persuaded to bring their money back to the US. Newsflash: they still won't pay taxes.
 
2012-01-18 11:33:06 AM
This is Jack's complete lack of surprise.
 
2012-01-18 11:40:42 AM
Hey, he pays 15% on all of his REPORTED income... That was what you meant, right?
 
2012-01-18 11:44:53 AM
I swear, if the DNC doesn't just blanket the swing states with this shiat, Romney deserves the Presidency because even a two year old is more convincing than he is right now.
 
2012-01-18 11:47:51 AM
sweetmelissa31: The sad thing is that many people think the solution to this sort of tax evasion is to lower taxes even more on the wealthy so that they'll be persuaded to bring their money back to the US. Newsflash: they still won't pay taxes.

Yes, but they'll dodge them at a lower rate.
 
2012-01-18 11:55:51 AM
OUT: Buffet rule
IN: Romney rule
 
2012-01-18 11:56:50 AM
That's 15% more than half the country. He doesn't make the tax laws.
 
2012-01-18 11:57:25 AM
Envious of Mitt Romney? Yep.
 
2012-01-18 12:03:23 PM
DarnoKonrad: Envious of Mitt Romney? Yep.

Only if he lived Charlie Sheen's hookers n blow lifestyle, then ya.
 
2012-01-18 12:03:43 PM
thismomentinblackhistory: That's 15% more than half the country. He doesn't make the tax laws.

Such great sacrifices from a guy who by his own words didn't even make much this last year - only $375k.
 
2012-01-18 12:06:54 PM
thismomentinblackhistory: That's 15% more than half the country. He doesn't make the tax laws.

No, but he apparently wants to change it so the working poor and the middle classes pay more while he and his wealthy buddies keep their low tax rates or get them even lower...

He seems to be concerned about everyone "having skin in the game", yet he appears to have very little in the game himself.

But, sure, let's raise taxes on the guy working at McDonald's but keep Mitt's rate the same or make it lower. Great plan... *rolls eyes*
 
2012-01-18 12:16:30 PM
keylock71: No, but he apparently wants to change it so the working poor and the middle classes pay more while he and his wealthy buddies keep their low tax rates or get them even lower...

Yup.

Romney's tax plan would cut his own taxes by nearly half, new analysis finds (new window)

saintpetersblog.com

Romney's tax cuts for the rich are nearly twice the size of George W Bush's. (new window)

Romney is of the rich, by the rich, and for the rich.
 
2012-01-18 12:16:57 PM
GAT_00: thismomentinblackhistory: That's 15% more than half the country. He doesn't make the tax laws.

Such great sacrifices from a guy who by his own words didn't even make much this last year - only $375k.


Isn't that amount JUST what he made in speaking fees? I thought he said he made the bulk of his income on investments and then added that he got some for speaking fees, but "not much." His $375K is just a little extra spending money.
 
2012-01-18 12:24:16 PM
someonelse: GAT_00: thismomentinblackhistory: That's 15% more than half the country. He doesn't make the tax laws.

Such great sacrifices from a guy who by his own words didn't even make much this last year - only $375k.

Isn't that amount JUST what he made in speaking fees? I thought he said he made the bulk of his income on investments and then added that he got some for speaking fees, but "not much." His $375K is just a little extra spending money.


Yeah, those were just his speaking fees. Someone else found the number he gave and found he made around $41k in fees per speech. He made more in one speech than a very large number of Americans, if not a majority, make in a year.
 
2012-01-18 12:27:58 PM
thismomentinblackhistory: That's 15% more than half the country. He doesn't make the tax laws.

Um, that's LESS (47 percent is less than half) than half the country that is too poor to pay FEDERAL INCOME taxes.

//second time I've had to correct the ignorant and/or trolling masses today
 
2012-01-18 12:28:07 PM
thismomentinblackhistory: That's 15% more than half the country. He doesn't make the tax laws.

I assume that you're talking about the half of the country that is largely minors, retirees, and people who are sick, disabled, or unemployed. Or the 2.3 million prisoners. You know, people with little to no income.

Please explain how your proposed tax solution would solve this.
 
2012-01-18 12:29:56 PM
IgG4: "Avoision, it's a crime, look it up"

I'd like to, but that site is blacked out too.

/seriously, it is.
 
2012-01-18 12:30:07 PM
See, but look how many jobs not paying those taxes allowed Romney to create!
 
2012-01-18 12:31:59 PM
Wow, that hurts a lot more than the usual "flip-flop" stuff.

chimp_ninja: thismomentinblackhistory: That's 15% more than half the country. He doesn't make the tax laws.

I assume that you're talking about the half of the country that is largely minors, retirees, and people who are sick, disabled, or unemployed. Or the 2.3 million prisoners. You know, people with little to no income.

Please explain how your proposed tax solution would solve this.


I believe the 46% number is based on people that filed income tax forms. So it excludes people that are actually ineligible or exempt. Persons claimed as dependents (most minors) would be exempt and not part of the number. I don't know if people on disability/unemployment or retirees are obligated to file, I imagine some of them aren't.
 
2012-01-18 12:32:19 PM
someonelse: His $375K is just a little extra spending money.

Pocket change he gave away, apparently...

Yeah, this is the guy to relate to the problems of the working poor and middle classes. He knows what it's like to worry about getting a "pink slip".

www.bagnewsnotes.com
 
2012-01-18 12:33:45 PM
Poor Mitt was living on Ramen noodles and water at the time.

He is truly a man of the people.
 
2012-01-18 12:37:02 PM
chimp_ninja: thismomentinblackhistory: That's 15% more than half the country. He doesn't make the tax laws.

I assume that you're talking about the half of the country that is largely minors, retirees, and people who are sick, disabled, or unemployed. Or the 2.3 million prisoners. You know, people with little to no income.

Please explain how your proposed tax solution would solve this.



First you mandate that every one has to pay in some percentage of their income, no matter what. Then we follow Newts plan to make 9 year olds work so they can pay taxes too. Then you made medicare change so seniors have to pay more and more of the costs, eventually they will have to come out of retirement and start paying income taxes again.
 
2012-01-18 12:38:25 PM
And you know what is really bad about this? the 15% he is paying it's not even on his own investments. They are a big loop hole PE's get for investing OTHER people's money. They use other people's money but then get to pay only 15% in taxes on the money they get paid. It's a total BS loop hole.
 
2012-01-18 12:38:29 PM
god, this farktard is the best the republicans can find? they're not even taken this seriously...
 
2012-01-18 12:39:15 PM
I am glad to see that the Republican Party feels that a corporation should not maximize profits if it means hurting people and that it is morally repugnant to avoid paying your fair share of taxes. What a refreshing development.
 
2012-01-18 12:39:27 PM
fracto73: chimp_ninja: thismomentinblackhistory: That's 15% more than half the country. He doesn't make the tax laws.

I assume that you're talking about the half of the country that is largely minors, retirees, and people who are sick, disabled, or unemployed. Or the 2.3 million prisoners. You know, people with little to no income.

Please explain how your proposed tax solution would solve this.


First you mandate that every one has to pay in some percentage of their income, no matter what. Then we follow Newts plan to make 9 year olds work so they can pay taxes too. Then you made medicare change so seniors have to pay more and more of the costs, eventually they will have to come out of retirement and start paying income taxes again.


Or and this is just a blue sky idea we could raise the capital gains tax to 50%.
 
2012-01-18 12:39:54 PM
thismomentinblackhistory: That's 15% more than half the country. He doesn't make the tax laws.

And under his tax plan he would pay even LESS and poorer people would pay even more!
 
2012-01-18 12:40:44 PM
Jim_Callahan: I believe the 46% number is based on people that filed income tax forms. So it excludes people that are actually ineligible or exempt. Persons claimed as dependents (most minors) would be exempt and not part of the number. I don't know if people on disability/unemployment or retirees are obligated to file, I imagine some of them aren't.

This 47% stat is covered pretty well here.

www.cbpp.org (new window)
 
2012-01-18 12:41:01 PM
Slives: People are going to be upset enough when he releases his current tax return, which he has had time to massage to make look better.

I would love to see him forced to release tax returns for the last 5-10 years. I would put good money on seeing a lot of differences between the one he would make public and the 'private' ones from the last few years.

Anybody want to predict the shiatstorm hitting then?


Totally. He will release the current year's then refuse to release anything else. People will complain and he will ignore it.
 
2012-01-18 12:41:27 PM
In addition to having the other candidates pile on Romney, I'd like to see them commit to changing the parts of the tax code that allow him to avoid paying taxes.
 
2012-01-18 12:42:40 PM
keylock71: Yeah, this is the guy to relate to the problems of the working poor and middle classes. He knows what it's like to worry about getting a "pink slip".

Look how noble he is, sharing his dollar with the other guy.

/At least I think that's him- honestly, four of the guys in that picture look almost identical.
 
2012-01-18 12:42:59 PM
curse that man for playing by the rules.

we should seize his money and redistribute it to the virtuous poor.

finally that capitalist dog will pay for his crimes. eh, comrades, eh?
 
2012-01-18 12:43:09 PM
keylock71: someonelse: His $375K is just a little extra spending money.

Pocket change he gave away, apparently...

Yeah, this is the guy to relate to the problems of the working poor and middle classes. He knows what it's like to worry about getting a "pink slip".

[www.bagnewsnotes.com image 560x437]


No, he gave away all his book money. You know, the one with Emo Romney on the cover. He kept the speaking money for a little spending cash.
 
2012-01-18 12:43:29 PM
Slaves2Darkness: fracto73: chimp_ninja: thismomentinblackhistory: That's 15% more than half the country. He doesn't make the tax laws.

I assume that you're talking about the half of the country that is largely minors, retirees, and people who are sick, disabled, or unemployed. Or the 2.3 million prisoners. You know, people with little to no income.

Please explain how your proposed tax solution would solve this.


First you mandate that every one has to pay in some percentage of their income, no matter what. Then we follow Newts plan to make 9 year olds work so they can pay taxes too. Then you made medicare change so seniors have to pay more and more of the costs, eventually they will have to come out of retirement and start paying income taxes again.

Or and this is just a blue sky idea we could raise the capital gains tax to 50%.



That might address our budget but it doesn't address his talking point, that half of americans don't pay taxes. If you wan't to start talking about realistic solutions he would first have to recognize that this talking point is a lie. I don't think that's likely so I simply replied with snark.
 
2012-01-18 12:43:35 PM
thismomentinblackhistory: That's 15% more than half the country. He doesn't make the tax laws.

Republican Apologists.

www.egagenerics.com

Quite literally using talking points that rob the elderly and take candy from babies.
 
2012-01-18 12:43:39 PM
A Fark Handle: god, this farktard is the best the republicans can find? they're not even taken this seriously...

Eh, they're going against a moderately popular incumbent with a strong foreign policy and an abundance of funding. Really throwing their weight into the contest would be a waste of a lot of people's time and energy. You almost always get astonishingly weak candidates nominated in mid-terms, short of the economy having crashed on the incumbent's watch giving the other guys a chance (not so much for Obama, since it crashed in 2007 and is actually somewhat recovered now).
 
2012-01-18 12:43:47 PM
Three step plan:

1) Corporate tax rate = 0%
2) Let all Bush cuts expire
3) Tax all earnings/gains/income (except exempted municipal bond earnings) at the same level.

No more "double taxation" argument you simply pay the full rate when you turn your investment into cash.
 
2012-01-18 12:44:17 PM
But what about the real issue. Where is his birth certificate???

HAVE YOU SEEN IT???
 
2012-01-18 12:44:39 PM
Corvus: thismomentinblackhistory: That's 15% more than half the country. He doesn't make the tax laws.

And under his tax plan he would pay even LESS and poorer people would pay even more!


He'll be in the $400,000 bracket next year. Did you adjust for that?
 
2012-01-18 12:45:25 PM
This is bad news - for Obama.
 
2012-01-18 12:46:10 PM
TheIndependent: Three step plan:

1) Corporate tax rate = 0%
2) Let all Bush cuts expire
3) Tax all earnings/gains/income (except exempted municipal bond earnings) at the same level.

No more "double taxation" argument you simply pay the full rate when you turn your investment into cash.



Corporations are people too. They should be taxed as such.
 
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