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(Fox News)   Turns out that Mitt Romney pays a higher tax rate than 97% of you. Who are you going to believe, FoxNews backed up by the IRS, or your own 1040?   (foxnews.com) divider line 514
    More: Interesting, Mitt Romney, romney, Fox News, IRS, tax rates, Scott Pelley, Tax Foundation, capital gains taxes  
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4788 clicks; posted to Politics » on 26 Sep 2012 at 1:52 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-09-26 02:21:01 PM  

intelligent comment below: skullkrusher: 100%


derp


well said. You truly support your Fark handle daily
 
2012-09-26 02:22:25 PM  

Corvus: Serious we need something like 150k+/yr in capital gains, its gets taxed as normal income.

That's the only way to fix the problem.

(I think we shouldn't do ALL capital gains because it would screw over many people in retirement who did all they could to put money away to retire in their old age)


exclusions for primary residence sales then yeah, sounds aight. Cap gains above $150k taxed at marginal income tax rates sounds reasonable.
 
2012-09-26 02:23:04 PM  
Every American who works pays at least 15.3% of their income to the federal government in the form of payroll taxes.

Mitt Romney does not, because payroll taxes do not apply to investments.
 
2012-09-26 02:23:08 PM  

Isitoveryet: Altair: "Fox News Fact Check" hahahahahahahahahahahahahahahahhahahahahahahahahahahahahahahahahahahah ahahaha

this ^^^^

ever since the big fact check upset of the GOP & DNC conventions, i've noticed FOX has started putting "FACT CHECK" in their headlines.

i suppose to fool their audience that they are a qualified nonpartisan fact check organization.


Fooling Fox News viewers? That's unpossible!
 
2012-09-26 02:23:15 PM  

skullkrusher: intelligent comment below: skullkrusher: yay parabolic income taxes!


What a coincidence when you're in here thread shiatting again, there are so many trolls doing the same thing.

is the issue that you didn't note the sarcasm in my "yay" or do you not know what a parabola looks like?


He probably doesn't know what a single bola looks like much less a pair of em.
 
2012-09-26 02:23:15 PM  

skullkrusher: Corvus: Serious we need something like 150k+/yr in capital gains, its gets taxed as normal income.

That's the only way to fix the problem.

(I think we shouldn't do ALL capital gains because it would screw over many people in retirement who did all they could to put money away to retire in their old age)

exclusions for primary residence sales then yeah, sounds aight. Cap gains above $150k taxed at marginal income tax rates sounds reasonable.


Agreed. primary resident sales should also not count.
 
2012-09-26 02:23:50 PM  
Hey, everyone. Kittypie070 thinks Romney pays too much in taxes compared to the rest of us.

Bless her heart.
 
2012-09-26 02:24:05 PM  

Corvus: skullkrusher: Corvus: Serious we need something like 150k+/yr in capital gains, its gets taxed as normal income.

That's the only way to fix the problem.

(I think we shouldn't do ALL capital gains because it would screw over many people in retirement who did all they could to put money away to retire in their old age)

exclusions for primary residence sales then yeah, sounds aight. Cap gains above $150k taxed at marginal income tax rates sounds reasonable.

Agreed. primary resident sales should also not count.


well stop the motherfarking presses ;)
 
2012-09-26 02:24:05 PM  
Ok call it a day guys, me and skullkrusher fixed the income tax system!

Congress can now go home!
 
2012-09-26 02:24:12 PM  

karnal: timujin

His argument is that the money has already been taxed at the corporate level "at up to 35%"... but it's been shown that any corporation that actually pays a 35% tax rate needs to fire its accountant. GE, Exxon and all that.


Probably pays more in taxes in a year than the combined amount of every farker that comments on this thread does in a lifetime.....but the pseudo-outraged Dems keep shouting "MOAR......ROMNEY PAY MOAR TAXES"!


And makes more money off of capital gains, money that he personally lobbied to be taxed at a lower rate, than the combined amount of every farker that comments on this thread does in a lifetime.
 
2012-09-26 02:24:42 PM  

skullkrusher: Corvus: skullkrusher: Corvus: Serious we need something like 150k+/yr in capital gains, its gets taxed as normal income.

That's the only way to fix the problem.

(I think we shouldn't do ALL capital gains because it would screw over many people in retirement who did all they could to put money away to retire in their old age)

exclusions for primary residence sales then yeah, sounds aight. Cap gains above $150k taxed at marginal income tax rates sounds reasonable.

Agreed. primary resident sales should also not count.

well stop the motherfarking presses ;)


I agree with you when you are right. It's just that doesn't happen that often. :)
 
2012-09-26 02:25:26 PM  

Vlad_the_Inaner: Duke Phillips' Singing Bears: Jackson Herring: netizencain: Ahh, the politics of jealousy.

Who ARE you? You aren't new around here but I've only recently noticed your terrible posts

It's hard to believe people actually preplant sh*tty troll accounts. That requires a level of foresight I just can't attribute to your average a-hole. So it's one of two things: a concerted plant by an interested party (a paid shill), or some idiot with an account he registered a long time ago that mostly just lurks.

I'm going with the latter, because tin foil is hard on my sensitive skin.

Well, if you had a bunch of astroturf warehoused, would you expose it to the elements before someone was willing to pay for it?


But what's the ROI on something like that around here? Every time some half-assed "conservative" pops up and derps around a little bit he gets gang-raped and covered in fact-splooge. What kind of fool would pay money for a troll soaked in liberal fact-splooge?
 
2012-09-26 02:26:11 PM  

Corvus: skullkrusher: Corvus: skullkrusher: Corvus: Serious we need something like 150k+/yr in capital gains, its gets taxed as normal income.

That's the only way to fix the problem.

(I think we shouldn't do ALL capital gains because it would screw over many people in retirement who did all they could to put money away to retire in their old age)

exclusions for primary residence sales then yeah, sounds aight. Cap gains above $150k taxed at marginal income tax rates sounds reasonable.

Agreed. primary resident sales should also not count.

well stop the motherfarking presses ;)

I agree with you when you are right. It's just that doesn't happen that often. :)


only difference is this time you understand why I'm right ;)
 
2012-09-26 02:27:02 PM  

Corvus: skullkrusher: Corvus: Serious we need something like 150k+/yr in capital gains, its gets taxed as normal income.

That's the only way to fix the problem.

(I think we shouldn't do ALL capital gains because it would screw over many people in retirement who did all they could to put money away to retire in their old age)

exclusions for primary residence sales then yeah, sounds aight. Cap gains above $150k taxed at marginal income tax rates sounds reasonable.

Agreed. primary resident sales should also not count.


I agree with this. Capital gains shoulded be taxed as regular income (with targeted exclusions for primary residences and retirement income). The 15% cap gains tax rate is the largest wealth redistribution scheme in American history.
 
2012-09-26 02:27:08 PM  

skullkrusher: Invisible Dynamite Monkey: RexTalionis: Meh. I paid at least 24% of my income to the IRS in 2011 and that was my effective rate because I have no deductions or exemptions.

I'm in close to the same boat. Around 20% in federal income tax. Around 26% if you count payroll taxes. I also makes 177 times less than Mitt. That's just screwed up.

yay parabolic income taxes!


Actually, speaking of that, I've just passed the maximum taxable rate for payroll taxes so with each raise I'm effectively taxed less. That just doesn't make any sense.
 
d23 [TotalFark]
2012-09-26 02:27:19 PM  
They must of used Breitbart as a 2nd source.
 
2012-09-26 02:27:45 PM  
chrispiascik.com
 
2012-09-26 02:28:24 PM  

Whiskey Pete: i suppose to fool their audience that they are a qualified nonpartisan fact check organization.

Fooling Fox News viewers? That's unpossible!


There's an old saying in Tennessee - I know it's in Texas, probably in Tennessee - that says, fool me once, shame on - shame on you. Fool me - you can't get fooled again.
 
2012-09-26 02:28:24 PM  
How long until we hear the "pay no taxes" qualifications include ignoring earned income taxes along with payroll and state & local taxes?

"The fact is 98% of Americans pay no federal long term capital gains income taxes. We as a nation need to reject this society of moochers and make sure everyone has skin in the game!"
 
2012-09-26 02:29:14 PM  

RexTalionis: Meh. I paid at least 24% of my income to the IRS in 2011 and that was my effective rate because I have no deductions or exemptions.


That's not completely accurate. Everyone gets to take a standard deduction and at least one personal exemption for themselves. Last year, the standard deduction for a single person was $5950 and the personal exemption was $3800. This means that you would have subtracted out almost $10,000 in deductions. If you didn't do this - you didn't do your taxes correctly.
 
2012-09-26 02:29:25 PM  
intelligent comment below

karnal: He makes 20 million by doing nothing? No wonder you are jealous of him......Maybe Obama built his empire for him?


Nah, he's a real true American patriot. He took his daddies money and connections and sat back while the company offshored jobs to cheap labor havens and ran American companies into the ground with massive debt. Then they took all those profits and hid them offshore away from the country that gave him all these opportunities and you consider that patriotic and wonderful.

We get it, you're jealous of his wealth and will justify anything and everything a rich Republican does.



Is uninformed the same as stupid? In your case, yes it is....can't even get your facts straight.
Romney was already a wealthy man by the time his father died in 1995. He did receive an inheritance but gave it away to charity.

Ignorance is a strenght, right-right?
 
2012-09-26 02:30:13 PM  

GAT_00: Even if that's true, which it isn't, he makes more than 99.99% of us so he's still paying far too little.


Very subjective opinion. What is a fact is that he pays far more than you in dollar terms and therefore is carrying your ass.

Oh, and in regard to TFA, social security taxes don't count. Obama is being disingenuous as is anybody who tries to include them in the analysis. They largely determine how much benefit the individual is eligible for from those programs. Should we also count 401k and other contributions to savings?
 
2012-09-26 02:30:14 PM  

Corvus: Ok call it a day guys, me and skullkrusher fixed the income tax system!

Congress can now go home!


actually & unsurprisingly, they are home today, I wish we all had their schedule & pay rate.
 
2012-09-26 02:30:14 PM  

Mitt Romneys Tax Return: Corvus: skullkrusher: Corvus: Serious we need something like 150k+/yr in capital gains, its gets taxed as normal income.

That's the only way to fix the problem.

(I think we shouldn't do ALL capital gains because it would screw over many people in retirement who did all they could to put money away to retire in their old age)

exclusions for primary residence sales then yeah, sounds aight. Cap gains above $150k taxed at marginal income tax rates sounds reasonable.

Agreed. primary resident sales should also not count.

I agree with this. Capital gains shoulded be taxed as regular income (with targeted exclusions for primary residences and retirement income). The 15% cap gains tax rate is the largest wealth redistribution scheme in American history.


the 150k cap mentioned would be more beneficial to middle class people because a summer home or an investment property or a car or boat or whatever could be sold without incurring those higher taxes...
 
2012-09-26 02:30:43 PM  

intelligent comment below: karnal: He makes 20 million by doing nothing? No wonder you are jealous of him......Maybe Obama built his empire for him?


Nah, he's a real true American patriot. He took his daddies money and connections and sat back while the company offshored jobs to cheap labor havens and ran American companies into the ground with massive debt. Then they took all those profits and hid them offshore away from the country that gave him all these opportunities and you consider that patriotic and wonderful.

We get it, you're jealous of his wealth and will justify anything and everything a rich Republican does.


I here I thought they were just jealous of people on welfare and food stamps that have such wonderful lives living at the bottom of the barrel eating free cheese.
 
2012-09-26 02:30:54 PM  

mrshowrules: Conservatives get to pick which wars are started. Liberals get to decide tax rates. Fair?


Did you forget all the libs that voted for that war in Congress? Ah liberal forgetfulness....
 
d23 [TotalFark]
2012-09-26 02:31:30 PM  

karnal: intelligent comment below

karnal: He makes 20 million by doing nothing? No wonder you are jealous of him......Maybe Obama built his empire for him?


Nah, he's a real true American patriot. He took his daddies money and connections and sat back while the company offshored jobs to cheap labor havens and ran American companies into the ground with massive debt. Then they took all those profits and hid them offshore away from the country that gave him all these opportunities and you consider that patriotic and wonderful.

We get it, you're jealous of his wealth and will justify anything and everything a rich Republican does.


Is uninformed the same as stupid? In your case, yes it is....can't even get your facts straight.
Romney was already a wealthy man by the time his father died in 1995. He did receive an inheritance but gave it away to charity.

Ignorance is a strenght, right-right?


So farking what.

He made his money by kicking other people the curb.

Rich != successful.
 
2012-09-26 02:31:49 PM  

Invisible Dynamite Monkey: skullkrusher: Invisible Dynamite Monkey: RexTalionis: Meh. I paid at least 24% of my income to the IRS in 2011 and that was my effective rate because I have no deductions or exemptions.

I'm in close to the same boat. Around 20% in federal income tax. Around 26% if you count payroll taxes. I also makes 177 times less than Mitt. That's just screwed up.

yay parabolic income taxes!

Actually, speaking of that, I've just passed the maximum taxable rate for payroll taxes so with each raise I'm effectively taxed less. That just doesn't make any sense.


it does when you consider that SS benefits are capped.
 
2012-09-26 02:32:00 PM  

Headso: Mitt Romneys Tax Return: Corvus: skullkrusher: Corvus: Serious we need something like 150k+/yr in capital gains, its gets taxed as normal income.

That's the only way to fix the problem.

(I think we shouldn't do ALL capital gains because it would screw over many people in retirement who did all they could to put money away to retire in their old age)

exclusions for primary residence sales then yeah, sounds aight. Cap gains above $150k taxed at marginal income tax rates sounds reasonable.

Agreed. primary resident sales should also not count.

I agree with this. Capital gains shoulded be taxed as regular income (with targeted exclusions for primary residences and retirement income). The 15% cap gains tax rate is the largest wealth redistribution scheme in American history.

the 150k cap mentioned would be more beneficial to middle class people because a summer home or an investment property or a car or boat or whatever could be sold without incurring those higher taxes...


Perhaps you get one exclusion per year?
 
2012-09-26 02:32:04 PM  
I pay a higher % of taxes than Romney does, and I have my entire life.

And he makes somewhere in the range of 100-1000 times what I do, on average over those years.
 
2012-09-26 02:32:28 PM  

James F. Campbell: Hey, everyone. Kittypie070 thinks Romney pays too much in taxes compared to the rest of us.

Bless her heart.


the fark are you doing
 
2012-09-26 02:32:48 PM  

Mitt Romneys Tax Return: agree with this. Capital gains shoulded be taxed as regular income (with targeted exclusions for primary residences and retirement income). The 15% cap gains tax rate is the largest wealth redistribution scheme in American history.


Correct.
 
2012-09-26 02:33:06 PM  

Headso: Mitt Romneys Tax Return: Corvus: skullkrusher: Corvus: Serious we need something like 150k+/yr in capital gains, its gets taxed as normal income.

That's the only way to fix the problem.

(I think we shouldn't do ALL capital gains because it would screw over many people in retirement who did all they could to put money away to retire in their old age)

exclusions for primary residence sales then yeah, sounds aight. Cap gains above $150k taxed at marginal income tax rates sounds reasonable.

Agreed. primary resident sales should also not count.

I agree with this. Capital gains shoulded be taxed as regular income (with targeted exclusions for primary residences and retirement income). The 15% cap gains tax rate is the largest wealth redistribution scheme in American history.

the 150k cap mentioned would be more beneficial to middle class people because a summer home or an investment property or a car or boat or whatever could be sold without incurring those higher taxes...


ok, so sale of a primary residence doesn't count towards the cap and there's a $150k limit after which cap gains are taxed at marginal rates.
Fixed.
 
2012-09-26 02:33:45 PM  

Jackson Herring: James F. Campbell: Hey, everyone. Kittypie070 thinks Romney pays too much in taxes compared to the rest of us.

Bless her heart.

the fark are you doing


making an ass of himself? It's kind of his thing.
 
2012-09-26 02:34:01 PM  

yelmrog: As a lifelong prole, I don't care that there is a class of people who make more money in a year than I could ever spend in a lifetime.

What I mind is when I begin to doubt that the members of said class are any more apt than I am at running a business/government/game of duck-duck-goose.

Listen up, rich folks. Stop whining about your tax rates and start sending your children to West Point and Annapolis again. If you're going to act like an aristocracy, you'd better be willing to take on the burdens that that come with it, complete with falling on your sword if you fark everything up.


Nooooo!
There's already a snobby upperclass asshole problem in Annapolis! Please don't send more!

/love my hometown, hate most of the people
//most
///Swampcandy!
 
2012-09-26 02:34:50 PM  

skullkrusher: Corvus: Serious we need something like 150k+/yr in capital gains, its gets taxed as normal income.

That's the only way to fix the problem.

(I think we shouldn't do ALL capital gains because it would screw over many people in retirement who did all they could to put money away to retire in their old age)

exclusions for primary residence sales then yeah, sounds aight. Cap gains above $150k taxed at marginal income tax rates sounds reasonable.


No it doesn't, at least in regard to corporate investments, which are already taxed at corporate rates. You are smart enough to know that.

Income from an investment in a corporation is taxed at a statutory rate of 35%, (25% average effective rate). Then the 75 cents left over gets taxed at 15%, resulting in an all in rate of 36%, higher than ordinary rates.
 
2012-09-26 02:35:40 PM  

skullkrusher: Headso: Mitt Romneys Tax Return: Corvus: skullkrusher: Corvus: Serious we need something like 150k+/yr in capital gains, its gets taxed as normal income.

That's the only way to fix the problem.

(I think we shouldn't do ALL capital gains because it would screw over many people in retirement who did all they could to put money away to retire in their old age)

exclusions for primary residence sales then yeah, sounds aight. Cap gains above $150k taxed at marginal income tax rates sounds reasonable.

Agreed. primary resident sales should also not count.

I agree with this. Capital gains shoulded be taxed as regular income (with targeted exclusions for primary residences and retirement income). The 15% cap gains tax rate is the largest wealth redistribution scheme in American history.

the 150k cap mentioned would be more beneficial to middle class people because a summer home or an investment property or a car or boat or whatever could be sold without incurring those higher taxes...

ok, so sale of a primary residence doesn't count towards the cap and there's a $150k limit after which cap gains are taxed at marginal rates.
Fixed.


now I would be curious what kind of income a taxation scheme like that would bring in for revenue.
 
2012-09-26 02:37:49 PM  
Also, while we're deciding to ignore certain taxes in order to fit a narrative, anyone want to discuss how much Romney pays on money he makes overseas?

dailydish.typepad.com
 
2012-09-26 02:37:56 PM  

Debeo Summa Credo: exclusions for primary residence sales then yeah, sounds aight. Cap gains above $150k taxed at marginal income tax rates sounds reasonable.

No it doesn't


if your goal is some odd form of fairness then it doesn't if your goal is a robust middle class and poor people with discretionary income it makes sense.
 
2012-09-26 02:38:52 PM  

Altair: "Fox News Fact Check" hahahahahahahahahahahahahahahahhahahahahahahahahahahahahahahahahahahah ahahaha


Stop breaking mobile formatting!
 
2012-09-26 02:39:28 PM  

Mitt Romneys Tax Return: I agree with this. Capital gains shoulded be taxed as regular income (with targeted exclusions for primary residences and retirement income). The 15% cap gains tax rate is the largest wealth redistribution scheme in American history.


and raising the top marginal rate is just a scam to make people think the rich are paying more. They don't pay that rate, the mostly pay capital gains.
 
2012-09-26 02:40:03 PM  

Debeo Summa Credo: skullkrusher: Corvus: Serious we need something like 150k+/yr in capital gains, its gets taxed as normal income.

That's the only way to fix the problem.

(I think we shouldn't do ALL capital gains because it would screw over many people in retirement who did all they could to put money away to retire in their old age)

exclusions for primary residence sales then yeah, sounds aight. Cap gains above $150k taxed at marginal income tax rates sounds reasonable.

No it doesn't, at least in regard to corporate investments, which are already taxed at corporate rates. You are smart enough to know that.

Income from an investment in a corporation is taxed at a statutory rate of 35%, (25% average effective rate). Then the 75 cents left over gets taxed at 15%, resulting in an all in rate of 36%, higher than ordinary rates.


sure it does. It sounds perfectly reasonable. You are assuming that $1 in revenues translates to ($1 - (r* $1))/outstanding shares in stock price gains. That's the only way your quibble makes any sense.
 
2012-09-26 02:40:18 PM  

justtray: Mitt Romneys Tax Return: agree with this. Capital gains shoulded be taxed as regular income (with targeted exclusions for primary residences and retirement income). The 15% cap gains tax rate is the largest wealth redistribution scheme in American history.

Correct.


Especially when you consider that 100 years ago capital gains were taxed as income (damn rentseekers) and wages were not taxed AT ALL.

Now, wages are taxed the most and capital gains are no longer considered income.

georgebushIscrewedyouall.jpg
 
2012-09-26 02:40:38 PM  

Grungehamster: Also, while we're deciding to ignore certain taxes in order to fit a narrative, anyone want to discuss how much Romney pays on money he makes overseas?

[dailydish.typepad.com image 300x419]


no. Who cares?
 
2012-09-26 02:40:47 PM  

NateGrey: [chrispiascik.com image 850x541]


dear god that is awesome
 
2012-09-26 02:41:09 PM  

Duke Phillips' Singing Bears: Well, if you had a bunch of astroturf warehoused, would you expose it to the elements before someone was willing to pay for it?

But what's the ROI on something like that around here? Every time some half-assed "conservative" pops up and derps around a little bit he gets gang-raped and covered in fact-splooge. What kind of fool would pay money for a troll soaked in liberal fact-splooge?



Probably a package deal. They may have had to pay for the fark troll to get the twitter followers.
 
2012-09-26 02:41:26 PM  

I_Hate_Iowa: Altair: "Fox News Fact Check" hahahahahahahahahahahahahahahahhahahahahahahahahahahahahahahahahahahah ahahaha

Stop breaking mobile formatting!


Seconded!
 
2012-09-26 02:41:39 PM  

netizencain: mrshowrules: netizencain: GAT_00: Even if that's true, which it isn't, he makes more than 99.99% of us so he's still paying far too little.

Thank god you're in charge of deciding how much is too much for the rest of us.

Conservatives get to pick which wars are started. Liberals get to decide tax rates. Fair?

Ahh, the politics of jealousy.



www.theworkofgod.org


"Again I tell you, it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God."



i173.photobucket.com

"Y'all jus' jealous!" 

/ahh the politics of Maury
//I prefer baby Jesus
 
2012-09-26 02:42:32 PM  

Corvus: Serious we need something like 150k+/yr in capital gains, its gets taxed as normal income.

That's the only way to fix the problem.

(I think we shouldn't do ALL capital gains because it would screw over many people in retirement who did all they could to put money away to retire in their old age)


Better, how about every dollar gets taxed as regular income, because it's, you know, income.
 
2012-09-26 02:43:26 PM  

karnal: timujin

His argument is that the money has already been taxed at the corporate level "at up to 35%"... but it's been shown that any corporation that actually pays a 35% tax rate needs to fire its accountant. GE, Exxon and all that.


Probably pays more in taxes in a year than the combined amount of every farker that comments on this thread does in a lifetime.....but the pseudo-outraged Dems keep shouting "MOAR......ROMNEY PAY MOAR TAXES"!


And he also makes more than us combined. So what's your point? That how percentages work.

/milk, bread and toilet paper don't cost him any less
//but cost less as a percent
 
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