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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Benny B on September 25, 2012, 07:23:28 PM

Title: '47 Percent'
Post by: Benny B on September 25, 2012, 07:23:28 PM: When Mitt Romney dismissed 47% of Americans for not pulling their weight, he attacked millions of hard working people making 25, 35, 45 thousand dollars a year. They pay social security taxes. State taxes. Local taxes. Gas, sales, and property taxes. Romney paid just 14 percent in taxes last year. On over 13 million in income. Almost all from investments. Instead of attacking folks who work for a living...Shouldn't we stand up for them?
Title: Re: '47 Percent'
Post by: CatInHat on September 25, 2012, 07:28:01 PM: no one cares nig
Title: Re: '47 Percent'
Post by: RJ DRIVER on September 25, 2012, 07:29:46 PM: You're a homo end of story.
Title: Re: '47 Percent'
Post by: Benny B on September 25, 2012, 07:54:54 PM: (http://www.taxpolicycenter.org/taxtopics/images/Breakdown3-06-17-11.gif)
Title: Re: '47 Percent'
Post by: Mattyh7688 on September 25, 2012, 07:59:35 PM: If you don't pay federal income taxes, you shouldn't be allowed to vote. Sick of the filt and lazy pretending like they matter.
Title: Re: '47 Percent'
Post by: Coach is Back! on September 25, 2012, 08:02:17 PM: This has already been debunked about 900000000000x's this week but since Benny is about the dumbest guy on here and can't quite grasp the concept of what an effective tax rate is even though he says he works in finance (haha) you'd think he would give it up....so here it is ONE MORE TIME dummy....

President Obama's campaign, with a good dose of help from the media, is pushing a claim that millionaire Mitt Romney is taxed at a "lower rate" than someone making $50,000 a year.

The claim, though, is open to debate. It only holds up in a particular scenario in which both income and all payroll taxes are counted.

The president's campaign presumably is referring to Romney's release last week of his 2011 tax returns, which showed he paid an effective tax rate of 14.1 percent.

This revelation, as might be expected, fueled a wave of campaign stump speeches and videos. The latest was an Obama Web video blasting Romney's "strange take on tax fairness." It included clips of people accusing Romney of paying a lower rate than "average" Americans. An accompanying campaign email said: "Mitt Romney admitted he thinks it's fair that his $20 million income was taxed at a lower rate than someone making $50,000."

IRS data, though, shows that Romney's effective income tax rate -- that's what he pays as a percentage of his income once deductions and other benefits are factored in -- is actually far higher than what most Americans pay.

And it's certainly higher than what someone making $50,000 pays.

IRS data from 2010 shows someone making between $50,000 and $75,000 on average pays an effective rate of 7.8 percent. Even someone making between $100,000 and $200,000 pays a 12.1 percent rate -- also lower than Romney's.

So what is the Obama campaign referring to? There are a couple possibilities.

The campaign likely is trying to make the point that Romney's income -- at least the huge chunk of it that is derived from investments -- is taxed at a 15 percent rate, while others who earn their money from a paycheck are taxed at marginal income rates going all the way up to 35 percent.

The latter percentage, though, comes down once deductions and exemptions are included. The Tax Foundation estimated in a report in January that Romney's rate in 2010 -- which was also about 14 percent -- was higher than what 97 percent of Americans pay.

The math works out better for the Obama campaign's claims if all payroll taxes are included in the formula.

Since Romney earns most his income from investments and not from a paycheck, he doesn't have to pay much toward Social Security and Medicare taxes. But if both the employee and employer share of those taxes are included, according to a Tax Policy Center chart, the middle tier of earners would be paying a 15.5 percent effective rate. (As pointed out in an earlier report by FactCheck.org.)

That would be slightly higher than Romney's rate.

The Obama campaign, asked about its latest Web video, told FoxNews.com "you can't ignore the payroll tax" considering how big of a hit that is for most middle-class families.

The Obama campaign also referred FoxNews.com to Romney's comments to CBS' "60 Minutes.

In the interview, Romney was asked by reporter Scott Pelley whether Romney's rate is "fair to the guy who makes $50,000 and paid a higher rate than you did?"

Without disputing that claim, Romney said it was fair and explained: "It is a low rate. And one of the reasons why the capital gains tax rate is lower is because capital has already been taxed once at the corporate level, as high as 35 percent."

The claim by Pelley, though, made certain assumptions without explaining them.

Obama used Pelley's phrasing to repeat the claim Monday on ABC's "The View."

"Yesterday Governor Romney on 60 Minutes said -- was asked does he think it is fair that he pays a lower tax rate than somebody that's making $50,000 a year, and he said yes," Obama said.

As the Media Research Center pointed out, an ABC reporter also claimed that Romney's 14.1 percent rate was "lower" than that of an auto mechanic making $75,000.

While Romney may or may not pay less than the average middle-class earner -- depending on how one defines middle class and how one defines tax rate -- one thing is clear: Romney does pay at a lower rate than the typical wealthy person.

IRS data for 2010 showed those making between $1 million and $10 million typically paid at an effective tax rate of more than 25 percent.

Fox News' Jim Angle contributed to this r

Read more: http://www.foxnews.com/politics/2012/09/25/fact-check-is-romney-tax-rate-really-lower-than-yours/#ixzz27Xb8cucn

Carry on Benny you dumb SOB.
Title: Re: '47 Percent'
Post by: Benny B on September 25, 2012, 08:03:35 PM: Quote from: Mattyh7688 on September 25, 2012, 07:59:35 PM
If you don't pay federal income taxes, you shouldn't be allowed to vote. Sick of the filt and lazy pretending like they matter.

What is your income, and are your parents still alive, "Matty"?

Do you feel Willard Romney is lazy filt for not paying his share of income taxes?
Title: Re: '47 Percent'
Post by: Schmoff on September 25, 2012, 08:04:57 PM: Quote from: CatInHat on September 25, 2012, 07:28:01 PM
no one cares nig
Title: Re: '47 Percent'
Post by: Coach is Back! on September 25, 2012, 08:05:24 PM: Quote from: Benny B on September 25, 2012, 08:03:35 PM
What is your income, and are your parents still alive, "Matty"?

Do you feel Willard Romney is lazy filt for not paying his share of income taxes?

Whats your income benny?
Title: Re: '47 Percent'
Post by: Bodybuilder Lex Reeves on September 25, 2012, 08:05:49 PM: Quote from: Benny B on September 25, 2012, 08:03:35 PM
What is your income, and are your parents still alive, "Matty"?

Do you feel Willard Romney is lazy filt for not paying his share of income taxes?
Now is this piece of shit really a n-i-g-g-e-r, or just some retarded white guy looking for attention?
Title: Re: '47 Percent'
Post by: Coach is Back! on September 25, 2012, 08:06:42 PM: Quote from: Bodybuilder Lex Reeves on September 25, 2012, 08:05:49 PM
Now is this piece of shit really a n-i-g-g-e-r, or just some retarded white guy looking for attention?

both
Title: Re: '47 Percent'
Post by: Roger Bacon on September 25, 2012, 08:14:39 PM: Romney paid $2,000,000 Income Taxes last year.
Title: Re: '47 Percent'
Post by: Coach is Back! on September 25, 2012, 08:20:44 PM: Quote from: P.I.P on September 25, 2012, 08:14:39 PM
Romney paid $2,000,000 Income Taxes last year.

and 20% in charity. He gave more in one year than Biden did in 10 years.
Title: Re: '47 Percent'
Post by: Roger Bacon on September 25, 2012, 08:26:06 PM: Quote from: The Coach on September 25, 2012, 08:20:44 PM
and 20% in charity. He gave more in one year than Biden did in 10 years.

That's my point you ignorant prick.

The average person probably only pays something like $300,000 in their entire life. Romney gets shaken down for $2,000,000 in on year to give people like Benny B food stamps and free healthcare.
Title: Re: '47 Percent'
Post by: Roger Bacon on September 25, 2012, 08:33:17 PM: Quote from: P.I.P on September 25, 2012, 08:26:06 PM
That's my point you ignorant prick.

Sorry Coach Christ, that was uncalled for!
Title: Re: '47 Percent'
Post by: Coach is Back! on September 25, 2012, 09:03:42 PM: Quote from: P.I.P on September 25, 2012, 08:33:17 PM
Sorry Coach Christ, that was uncalled for!

It's okay, I was married four times. I'm used to it.
Title: Re: '47 Percent'
Post by: Roger Bacon on September 25, 2012, 09:11:58 PM: Quote from: The Coach on September 25, 2012, 09:03:42 PM
It's okay, I was married four times. I'm used to it.

haha ;D