Romney says he pays about 15 percent in income tax - Page 5

Papa_Complex · 01-20-2012, 09:51 AM

Quote:

Originally Posted by Sean

That he's (theoretically) already paid taxes on? Do we have that data or are you speculating with no information?

Speculating, with as much information as you have.

shmike · 01-20-2012, 10:09 AM

Quote:

Originally Posted by Sean

What? You don't pay income tax on your wealth, you pay it on your income. Uninvested funds don't earn income, so you're not "making" 38% on anything.

Frankly, I'd be less inclined to vote for him if he was paying 40% on his investment portfolio, because it would show a lack of understanding of the tax system.

Quote:

Originally Posted by Sean

That he's (theoretically) already paid taxes on? Do we have that data or are you speculating with no information?

Give it a rest, Sean.

According to TWFix...

Anybody making over $375k or worth over $1 million:

Made their money without paying taxes.
Hide their wealth in offshore accounts.
Have been known to renounce citizenship to avoid taxation.
They also rape babies and infected your Grandmother with AIDS.

Papa_Complex · 01-20-2012, 10:31 AM

Quote:

Originally Posted by shmike

Give it a rest, Sean.

According to TWFix...

Anybody making over $375k or worth over $1 million:

Made their money without paying taxes.
Hide their wealth in offshore accounts.
Have been known to renounce citizenship to avoid taxation.
They also rape babies and infected your Grandmother with AIDS.

If he fails to disclose, then I can make any reasonable assumptions about those funds that I like.

Homeslice · 01-20-2012, 12:48 PM

Quote:

Originally Posted by shmike

Give it a rest, Sean.

According to TWFix...

Anybody making over $375k or worth over $1 million:

Made their money without paying taxes.
Hide their wealth in offshore accounts.
Have been known to renounce citizenship to avoid taxation.
They also rape babies and infected your Grandmother with AIDS.

There is no magic $ cutoff, but people who make more money have more access to tax-cheating techniques.

Someone who is single, doesn't own property, and works a simple 9-to-5 office job, has access to virtually none of those techniques.

So the whole idea that we should cry a river for wealthy people because they shoulder the majority of the tax burden is BS imo. Yeah, we get it, you paid most of the country's taxes......But you also have more access to creative tax-reducing tools than most people.

Vacations to Tahoe written off as so-called "business expenses" simply because one of your clients happened to be there? Check.

Your new F250 written off because you "need" it to "service" your rental properties? Check.

Your speaking fees collected without being reported to the IRS? Check. (OK, I'm speculating there

)

fatbuckRTO · 01-20-2012, 01:32 PM

Quote:

Originally Posted by Trip

Republicans are fucking idiots to elect this moron

What if they had elected the other moron, John Huntsman? Or do you hate all morons?

If so you should probably stay away from Utah...

pauldun170 · 01-20-2012, 02:13 PM

I'm not wealthy, but I play a wealthy person on TV.

Now that I have proven myself as a credentialed source on the subject down with those things of the sort and all that business.

Papa_Complex · 01-20-2012, 02:18 PM

Quote:

Originally Posted by fatbuckRTO

What if they had elected the other moron, John Huntsman? Or do you hate all morons?

If so you should probably stay away from Utah...

tap.. tap.. tap..

Um, that's "Mormon."

pauldun170 · 01-20-2012, 02:19 PM

Quote:

Originally Posted by Homeslice

Vacations to Tahoe written off as so-called "business expenses" simply because one of your clients happened to be there? Check.

If you spent a couple of hours glued to the blackberry and covered the clients dinner and entertainment expense in order build a relationship, cement or work out a complex deal why the fuck wouldn't you write those expenses off?

For many, there are no such thing as "vacations".
You may be on a golf course or a ski resort, but 95% of your time is dedicated to working out a multi million\billion dollar deal.

Screw all these assumptions about tax cheating.
the bigger issue is spouses cheating since you are not dedicating as much time to your family as you should.

Pauldun170 -
Standing up for rich people when no one else will.

pauldun170 · 01-20-2012, 02:22 PM

Quote:

Originally Posted by Papa_Complex

tap.. tap.. tap..

Um, that's "Mormon."

tap.. tap.. tap..

Um, that's "Hue-mon."

OneSickPsycho · 01-20-2012, 02:48 PM

Quote:

Originally Posted by pauldun170

If you spent a couple of hours glued to the blackberry and covered the clients dinner and entertainment expense in order build a relationship, cement or work out a complex deal why the fuck wouldn't you write those expenses off?

For many, there are no such thing as "vacations".
You may be on a golf course or a ski resort, but 95% of your time is dedicated to working out a multi million\billion dollar deal.

Screw all these assumptions about tax cheating.
the bigger issue is spouses cheating since you are not dedicating as much time to your family as you should.

Pauldun170 -
Standing up for rich people when no one else will.

Right... I'm on the cusp of having to deal with shit like that and I'm nowhere CLOSE to being rich. Once you start getting to the executive level, your off time is still dedicated to work... You don't clock out, when you clock out... You just spend time away from the office.