Romney to Release Full Taxes
 

http://money.cnn.com/2012/09/21/pf/t...urn/index.html

Made $13.7 Million
Paid almost $2 Million in Federal
Gave over $4 Million to Charity


I guess he could of paid more ???

Honestly on Investments I say go with Obama and raise it a little for now, see what happens???

BTW: I think he is a Tool!

Just saying People need to focus on other important things. I bet 100% Obama took or will take the same tax breaks on any investments he can.

Charity by the way is his big titted mistress.

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nice he gave 4 million to charity

paid almost 2 million in taxes

you understand that money used for investments have already been taxed when earned, correct?
stop advocating the taking of other people's money. If YOU had investments, you wouldn't be saying SHIT about "raise it a little for now, see what happens???"

Bad idea at this point

so he gave away almost half (charity + federal taxes), and that doesn't even include real estate taxes, state taxes, etc...

where exactly is the problem?

The only problem I could see is that he has been claiming he is living in his son's unfinished basement. No that is not a joke.

Why in the world he waited this long makes no sense at all.

uh, yes it is

So he could make all those people wanting his tax records look at stupid as birthers?

http://articles.businessinsider.com/...rnor-residency

The delay did more damage than it will benefit him. Now it is going to act as a reminder that he made nearly $14mil.

Actually he made his campaign manager look as bad as Obama's campaign manager for not immediately releasing his Hawaiian birth documents. Running for president requires transparency. Refusing to release tax documents, birth documents, etc is a huge political mistake.

Agreed. :thumbsup

Anyone thinking of running for president in 2016 should be ready to provide a nationally televised colonoscopy if asked. That is the unfortunate era of reality television we live in presently. Many worthwhile candidates won't run because the process is too intrusive...but deciding to run and then trying to avoid transparency is a death sentence for a modern political campaign. Not sure how Romney's advisers were so unaware of that fact.

I like how they throw in "basement" as if there is a field for that on the residency form. :1orglaugh

its why its a joke and not being talked about by even the main stream press

Because the basement is listed as an in-law apartment. Romney claims to live there and it is unfinished. The MSM is not talking about it because they are the joke. :thumbsup

Here is another write up in Forbes.
http://www.forbes.com/sites/brendanc...ent-last-year/

Sure it does, the crook probably found a way to hide something, lets wait until he comes through and see what prevails.

He made 14 million, not because he worked hard at a 9 to 5 as a CEO or because he wrote a popular book. He made that from Capitol Gains because he has 250 mil in assets.

This is why he only paid 14% income rate.. Meanwhile your average working middle class stiff pays between 25-28% of their income in taxes.

Do I think Romney should pay more taxes? No.. But why is it himself and the rich pay so much smaller share of their income to taxes vs the average American. The point being everything is stacked in favor of the super wealthy with the rules against the middle working class when it comes to taxes.

We will never hear about Republicans promising to lower middle class taxes to 14% now will we. When they love to chap on about lowering taxes it's never the middle class that catches that break, it's always big business & super wealthy all under the promise of creating "MORE" jobs..

Humm how many jobs do you think would get created if the middle class suddenly had 10-15% more spending income? Considering the middle class is the largest consumer pool in this country, I'd say a hell of a lot.

The top 10% earners pay 70% of the taxes. The bottom 50% pay 2% of the taxes.

That does not look stacked to me. I think we should simplify the tax code. 0% income tax. :thumbsup

Don't you wish you stayed in school and chose a better career?

Isn't the AMT, alternative minimum tax, supposed to automatically kick in to make sure someone meets a taxable minimum no matter what the income source or amount of deductions?

If he paid the max even with the AMT then he was legal. The legal tax status of a presidential hopeful is all we should be concerned with. The legal percent levels of tax are a different subject.

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Not really. My uncle is a pretty smart business man and he once told me, college only teaches you how to work for someone else. I'm pretty sure he's was right and I'm happy enough with what I do.

Exactly. Another tactical blunder by this campaign. They should have done it months ago instead of letting it fester.


Theo, hit me up

These aren't the tax returns that people have been clamoring to get released. This is just 2011, which he already said he was going to release

I still fail to see why income from investments is taxed at 15%, when actual work is taxed up to 35%. It is all income...

Even the poor end up paying more in tax then Romney if you consider social security, medicare withholding and sales tax. 12clicks is just furious that he isn't mega wealthy but has kept up this facade forever so he can't just decide to change it now

Here are some reasons:

One..the money you invest was ALREADY taxed at a normal rate when you first earned it. So the feds are double dipping you.

Two...you would discourage investment if taxes were high on capital gains. Matter of fact they should be zero. Think about the stock market falling very, very fast if capital gains were taxed at a high rate.

Three...all the elderly people out there living off of their retirement plans (stocks and bonds) would now be taxed at a much higher rate. Remember, capital gains are investments. Those retired people ALREADY paid taxes on the money they earned at their job. Now they have to pay capital gains taxes too once they are retired. It isn't right. But not much about the greedy, overspending federal govt. is.

And lastly....Romney said many months ago that his plan to reform taxes would RAISE capital gains taxes on people like himself with high incomes and eliminate if for middle and lower income people's investments.
But the media only reported that for like 5 seconds on one day.
The rest of the time they are too busy trying to win the election for Obama. :1orglaugh

Yes, but it's either face it now or it will keep hounding him.

Romney has a massive image problem. If he doesn't release this information he'll keep getting dinged. I think it looks bad that he made $14mil without working, but it looks a lot worse if it looks like he's got something to hide.

Dude...he paid 2 MILLION dollars in federal taxes...plus his own social security tax, medicare and WAAAAYYYY more in sales tax than a city full of "poor" people ever will.

Plus he contributed 4 million dollars to charity.

The difference between Romney and a lot of Democrat politicians is: He doesn't mind giving away his OWN money to the poor. Whereas the Dems are more comfortable giving away YOUR money. lol

Remember on one of the Clinton's tax returns they actually wrote off Bill's used underwear that they gave to Goodwill as a "deduction". :1orglaugh

I think it looks bad that the Federal Govt. spends 10.6 BILLION dollars per day without working. :disgust

In other words more money than Romney has ever or will ever make...the govt. spends in just one day.

Ok so when I spend money on advertising, traffic etc, and turn a profit off that, why is this taxed at normal income. But if I buy some stocks, it goes up, I cash out a year later its taxed at 15%.

Or the total bullshit hedge fund manager/private equity loophole where everything is just taxed at 15% even though its definitely not long term gains

Hell or if I drop $100k on a new college degree, spend several years getting that and then I get a better paying job. This sure seems like a long term investment, why can't I be taxed at 15%.

Think how much worse the economy would be if more of your capital gain was wasted by the government vs reinvested by you. Seriously.

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Yea, this would be a great place to live then.

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Hey, I'm with you...I think we should just have a flat tax. No deductions for anything.

But you were asking why capital gains were taxed at a lower rate with our current system. So I was just answering that specific question.

And again, in my opinion...capital gains should have ZERO tax on them...that money is being taxed twice by the corrupt politicians in the Federal govt.

That's a great point. Most guys re-invest the money from capital gains to try and create more wealth. Which of course stimulates the companies whom they invest in. Which in turn makes those companies healthier.

Investment is the key to the economy growing (once the housing market rights itself).

Start handing that money over to the Feds to use so they can invade another country? Or waste billions on the "drug war"?

No thanks.

I'm saying a lot of people cannot fully take advantage/abuse the shit out of the capital gains rate like a very small % of the US. I'm not saying raise it like crazy or anything, but these guys want it to go to 0%. Which is simply absurd.


Then there is the whole right wing talking point "but these old people need low rates to survive." They don't give a shit about old people, other then to please them just enough so they keep voting for them. Sure grandma is living off her dividends late in life, but she isn't making a crazy sum of money with them most likely either. So even if it was taxed at normal income rates, she wouldn't be paying 30%+ likely. If she is, well then she is making $500k+ off dividends which at a very generous return rate of 10% is still $5 million invested. I doubt she'll be eating cat food paying 30% on that $500k+ versus just 15%.

The problem with a flat tax is its very regressive. Taking 15% of someone's money who makes $30k a year is going to have a much larger impact then taking 15% of someone's money that makes $200k a year

Most people can't take "advantage" of any situation they find themselves in. That's why people like you and I and most business owners are able to excel while others don't.

But I know that will just stir up some folks that will scream about Romney having a fairly wealthy family. And that's true. But so does Paris Hilton. I don't think she has the intelligence or ambition to do what a guy like Romney can do to grow his own wealth.

But let me go back...
Romney wants to KEEP capital gains tax at 15% for himself and other people making more than $200,000
He wants to make it ZERO for anyone making less than $200,000

Did you know that?
Not many people do, because the media refuses to address the issues and the true policies of the candidates.

Obama on the other hand...wants to raise capital gains taxes to 23,8% which will affect grandma and grandpa and people like you and me who are TRYING to create our own wealth.

http://www.dailytargum.com/opinion/c...a4bcf6878.html

I'm sure that there would be some compromise.

If you make $30K a year...your tax is zero. How does that sound?

Or better yet...eliminate the income tax.
Replace it with a national sales tax.

Rich people buy more shit anyway. Problem solved.

And oh yeah....the Feds need to STOP spending 10.6 BILLION dollars a day!

National sales tax has the same regressive problems too though. Someone making $30k a year is going to probably spend 100% of it, so it will all be taxed. The more you make, the greater % of your income will be saved and then won't be taxed.

edit: misread.

Lesson here is, everyone should be talking to their accountants about paying themselves dividends.

Every accountant I've ever had has tried to get me to invest, invest, invest.

I never listened to them. lol
But I sure wish I had bought a hundred grand of Apple stocks about 5 years ago.

Yes kiddo, but not the interest/return on that said money ....

51 partial & late tax returns !

right as usual ( right meaning rightwinger ... )

Warren Buffett Donates $1.78 Billion To Charity

Romney looks like a street panhandler comparing to this ... :1orglaugh

After all of this time I see folks here still think capital gains taxes are double dipping. You only pay money on the new money you accumulate. That is not double dipping. It is taxing income once.

It's always the people that claim to be doing so well that claim it's double taxation. Leads me to believe they are lying about how well they're doing or they'd have capital gains to know it's not taxed twice.

You are only taxed on the amount between the lower purchase price and the higher sale price. If you buy something for $1 million and sell it for $1.5 million you only pay taxes on $500k.

Simple... they don't have a nickel invested... that is why they are always saying the money was alreay taxed ...

I have 140K in gic ( 4 to5% interest ) ..I pay taxes on the interest of 5 to 6K a year ... not on the 140K ...

Makes me laugh when I read those morons repeating that ...:1orglaugh:1orglaugh:1orglaugh

Well wouldn't that argument be that Buffett is giving to charity based on a "progressive" system? heh-heh

And my observations are just there to point out the pure hypocrisy of all these politicians.
For instance...a few weeks ago my own Senator, Harry Reid...went to the national press and claimed that he "heard" Romney hadn't paid ANY taxes in 10 years!

Are the press following up on that? Did Reid apologize?
Nope.

The Dems and media hold hands to attack Romney and carry water for Obama. It's pathetic really.

But again..I am fiscally conservative. And socially liberal. So NEITHER Obama or Romney fit my idea of good leadership.
Especially Obama...I voted for his sorry ass in 2008. And the only reason I still even consider him is because of the speech that Clinton gave at the DNC.
Obama made a lot of promises and statements and claims that he never even seemed to try to follow up on.

It was just more of the same. Lobbyist's and special interests and a total disconnect from reality while the country needs JOBS (he gave us health insurance :( )

Have you ever made really good money yourself? Not attacking you. I'm just asking.
I have. And when I sat down to write those quarterly checks to the govt. it was fucking painful.

And if you would like to see investment dry up overnight then go ahead and raise those capital gains taxes. And watch retirees suffer as well as the rest of the already crippled economy collapse even more.

I don't know what life experiences you have had. But mine have led me to completely different conclusions than the ones that you are expressing.

The initial investment is not taxed again.

If you earn $10,000 raking leaves, make a lucky investment and sell at $100,000, you are taxed on the $90,000 capital gain.

IMO the capital gains tax should be 0% for the little guy to encourage investment (poor retirees included). While I wouldn't mind 0% across the board, I don't think anyone can cry over it matching the income tax bracket system. Especially considering this is money you don't really work for. You don't contribute anything to society to earn it.