Romney's tax rate: 13.9%- Page 3

Posted: 1/25/12 at 11:06am

Agreed Reg- if Romney did nothing illegal to attain this tax rate (I won't talk about his off-shoring of millions of dollars then bringing it home because it wouldn't pass "the sniff test" while running for president) it's much much worse. Since 2001, the tax rate paid by the 400 richest Americans has fallen by 50%. And the Republicans want to bring that lower.

[madbrian]

Posted: 1/25/12 at 11:12am

I hate to cloud the issue with factual information, but I feel compelled to do so. Gingrich's food stamp remark was directed at the African American community, and his remarks have implied that minorities are lazy and have no work ethic. So, perhaps some information about food stamps is in order. First of all, half of food stamp recipients are white. Almost half are children. Most importantly, about 40% of food stamp recipients ARE WORKING.

[AMH]

Posted: 1/25/12 at 11:50am

Newt never brought race into his food stamps remark. He just said that more people have gone on food stamps since President Obama took office. He wasn't referring to Obama's skin color, only his policies. Newt is in favor of getting people off food stamps and doing away with the welfare state, as am I. I like the idea of being a nation of haves and soon-to-haves, not haves and have-nots.

I don't like marginal tax rates because I don't think people who earn more money should be taxed more on it. To me, that's not fair. Success should not be punished. Because I am in the process of finishing my graduate program and will then go into a career where I can make a decent amount of money, I don't think I should be taxed at a higher rate than a high school dropout. Nothing against high school dropouts, that's just my opinion.

Personally, I want a 15% flat tax and 0% capital gains rate. Professionally, I want a complicated tax code full of loopholes, credits, and deductions because it gives me job security.

[Reginald Tresilian]

Posted: 1/25/12 at 11:57am

"Gingrich told a town hall meeting at a senior center in Plymouth, N.H., that if the NAACP invites him to its annual convention this year, he'd go there and talk about 'why the African-American community should demand paychecks and not be satisfied with food stamps.'

He also said he'd pitch a new Social Security program aimed at helping young people, particularly African-American males, who he said get the smallest return on Social Security."

Link

[FindingNamo]

Posted: 1/25/12 at 12:10pm

"I like the idea of being a nation of haves and soon-to-haves, not haves and have-nots."

Yeah, that's an idea, all right.

[SonofMammaMiaSam]

Posted: 1/25/12 at 12:13pm

Thank god for graduate programs.

[FindingNamo]

Posted: 1/25/12 at 12:20pm

I guess they don't teach the coded language in grad school nowadays. Like what Newt means when he uses the phrase "food stamps." There really is a lack of value placed on critical thinking skills.

Updated On: 1/25/12 at 12:20 PM

Posted: 1/25/12 at 12:21pm

AMH You seem really adept at evading direct questions. You are upset poor people pay no federal income taxes (they do pay social security and medicare taxes on any earnings or unemployment). But you want the richest people- those who earn money from capital gains to pay NO taxes at all? Is that correct? Because that makes NO sense to me.

To me it seems obvious that all people have a certain level of need- food, clothing, heat, shelter- no matter what their income. So if you earn, say $20,000 a year, more of your income will be consumed meeting those needs (even spending the bare minimum in each category) than a person who earns say, $20,000,000 (Even spending a maximum in each category) and hence has more discretionary income- and can afford to contribute more to our national needs and priorities.

[Kad]

Posted: 1/25/12 at 12:31pm

Back to Romney and whether or not it's fair he pays 13.9%... Bain Capital was part of the Private Equity Committee, one of the lobbyist groups to aggressively lobby against raising the tax rate.
Courtesy of, naturally, The Daily Show

[AMH]

Posted: 1/25/12 at 12:53pm

I guess they don't teach the coded language in grad school nowadays. Like what Newt means when he uses the phrase "food stamps." There really is a lack of value placed on critical thinking skills.

In the Republican debates that I watched, Newt made no referrence to skin color--unless I don't remember correctly--when speaking about food stamps. Someone who makes an issue out of it must have race on his or her mind, which I don't believe Newt did when making those comments.

Joe, I agree that all people have a certain level of need, but we all live in this country and I believe everyone should pay some federal income taxes, preferrably at a low rate. I'm not making an issue out of social security, medicare, self-employment, state taxes, AMT, etc. I'm just talking about federal income taxes and the marginal rates.

I'm not upset at poor people for not paying federal income taxes; the fault lies with the tax code. In my opinion, it should be changed and I agree with Newt's view on this. Entrepreneurs and small business owners should not bear the brunt of the tax burden since they are the ones who create most of the jobs in this country.

Yes, I would be happy with a 0% capital gains rate. This is favorable to me as an investor. I've already invested my money with after-tax dollars, and don't want to pay a tax on the earnings.

I don't begrudge the success of those who earn more money than I do, and don't think they should have to pay a higher tax rate on because of their success.

[Kad]

Posted: 1/25/12 at 1:01pm

AMH, you've ignored the fact that Newt explicitly mentioned the African-American community. Reg provided you with a source for his.

[Reginald Tresilian]

Posted: 1/25/12 at 1:02pm

As mentioned in my link above, Gingrich made specific references to "the African American community" and food stamps in a speech in New Hampshire.

Not particularly "coded," to my mind.

[FindingNamo]

Posted: 1/25/12 at 1:06pm

AMH is a product of 30 years of selfishness and greed ushered in by Ronald Reagan. I don't really know how I can expect empathy from people who have never even been introduced to the concept.

Posted: 1/25/12 at 1:12pm

So you think poor people should pay more taxes and rich people should pay less? I'm not challenging just trying to grasp your position. What do you think the "minimum" tax should be? Right now, with exemptions, a person who earns $13,000 pays taxes. You are calling for no tax on capital gains- do you mean that someone who earns all their income from capitol gains should pay no taxes?

I myself have no issue with a progressive tax structure. I do feel that when I've made $70,000 a year I was able to contribute more (in total and as a percentage) than when I've made $20,000. And it did not cause me hardship to pay it. And I see NO reason why income from investment should be taxed any differently than income earned as salary.

[madbrian]

Posted: 1/25/12 at 1:14pm

In the debate, he was responding to a direct question about his quote where he explicitly referred to race. Personally, I wish so many Americans were not forced to ask for help. However, I am glad that as a country we are able to provide assistance to those in need, and I hope that we will continue to do so.

Regarding the flat tax, it's nothing but a smoke screen. It would do nothing for the middle or lower classes; it would further shift the tax burden away from the wealthy. Link attached.
Flat tax falsehood

[Reginald Tresilian]

Posted: 1/25/12 at 1:21pm

Even if you choose to believe that Gingrich's remarks weren't playing off the notion that more blacks than whites receive food stamps, calling Obama the "food stamp president" (and, again, regardless of whether you think applying that name to our first black president is a racially neutral remark) is not accurate.
Link

Posted: 1/25/12 at 1:30pm

I'd be curious what Newt (or you) would propose instead of food stamps? I agree, I wish less folks needed food stamps (or SNAP, more precisely) but think helping is better than letting them starve.

[finebydesign]

Posted: 1/25/12 at 1:38pm

Food Stamps are on of those those "entitlement" plans that actually directly benefit the middle-class. The thing about Food Stamps is that you have to use them, or lose them. People don't hoard this money and it goes right back into the economy which create jobs.

Massive tax breaks are however hoarded.

Updated On: 1/25/12 at 01:38 PM

[FindingNamo]

Posted: 1/25/12 at 2:23pm

Word.

[AMH]

Posted: 1/25/12 at 2:23pm

I would love for everyone to be off food stamps, but I don't have a plan for this (which is why I'm not running for president). I don't know if Newt could be the one to do this, but he has my support since his economic beliefs are more in line with my own and I think he would do a good job at tackling entitlements.

Just from the debates I watched, I don't think Newt called Obama the "food stamp President" because Obama is black. He was referring to Obama's policies. That's the only statement I'm adressing, not the issue of which ethnicities are on food stamps. I believe Newt even defended this statement on several interviews that he gave to the press.

And, Namo, I don't believe it's crass or greedy to want a favorable tax position for one's self.

Clearly my opinions are in the minority, and that's cool.

[madbrian]

Posted: 1/25/12 at 2:31pm

While I try to be respectful of others' opinions, I find it difficult to believe that anyone can be that naive as to not see the explicit and implicit racism in Gingrich's speeches. Just out of curiosity, what do you make of Gingrish's description of Spanish as "the language of living in a ghetto"?

[Reginald Tresilian]

Posted: 1/25/12 at 2:33pm

It's odd, though, that I don't recall Gingrich calling Bush something similar, given that "more individuals were added to the program while George W. Bush was in office than have enrolled under Obamas presidency."

What makes Obama "the food stamp" president as opposed to his predecessor?

[SonofMammaMiaSam]

Posted: 1/25/12 at 2:39pm

AMH, you do know that food stamps began in 1939 don't you? Obama wasn't even born. Any attribution to him is just silly.

[FindingNamo]

Posted: 1/25/12 at 2:52pm

"And, Namo, I don't believe it's crass or greedy to want a favorable tax position for one's self."

And why would you? You came of age in the "I got mine, screw you" era. You don't know there are other ways to be in the world.

[AMH]

Posted: 1/25/12 at 2:57pm

AMH, you do know that food stamps began in 1939 don't you? Obama wasn't even born. Any attribution to him is just silly.

I do realize this. Newt didn't say that food stamps began with Obama, just that they've increased under him.

What makes Obama "the food stamp" president as opposed to his predecessor?

I guess Newt has seen numbers to the contrary. If food stamps really did increase under Bush, then calling him a "food stamp" president seems appropriate. I only know what Newt has said and he seems to be going by different figures.

Just out of curiosity, what do you make of Gingrish's description of Spanish as "the language of living in a ghetto"?

I haven't heard Newt say this so I can't really comment. I would need to read the comment in its proper context.