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Sounds like Obama with his ego and lack of fulfilling his BS campaign promises.

I thought you guys were pissed that Obama was fulfilling campaign promises? WTH?

The story was the interview which just happened this week.

Perhaps this says it better :hihi:

-spence

scott - I dont fault him at all. Based on the current economic climate, I highly doubt his electability given the % of income tax he pays. He will get killed in the media.

It will kill him if he continues to act like he's hiding something.

There was an interesting article the other day about Romney's taxes...that what he's hiding is how he's used shifting IRA's to get around the IRS's yearly contribution limits. Don't know if it's BS or not.

What I do find is that Romney's difficulty in answering the tax question is really, really odd. He's got an army of highly paid advisers that clearly aren't doing their job.

If he did have a tax issue you'd think he would have fixed it when he ran 4 years ago.

-spence

i dont think he is doing anything shady. I think the public will view him and his tax % as the problem and not the solution.

People know his net worth is estimated at $250 million. He's already stated his effective tax rate.

Romney said he didn't want to let his personal finances go drip, drip, drip yet that's exactly what he's doing.

Once they got wind that the other Republican nominees were going to go with a left wing attack he should have said eff you, released his 2010 returns and talk about how successful he's been because freedom rewards talent and hard work.

Probably would have won SC.

On a work call today I challenged a guy and as he was fumbling over the response I said "you sound like Romney and his taxes."

He's got to shut the door tonight.

-spence

That, and I think if he really wanted to shut the door, he'd release them back a few years. to me, it makes it seem he doesn't want it known how much he earned in previous years...

It sounds like Newt is finally getting around to releasing his FMae/FMac contract and documents

I don't think his net worth bothers people, I have to agree with Jeff for once... it is more than he wasn't prepared to deal with this!

It will matter to those who are going to vote for Obama regardless which means it doesn't really matter.

-spence

He has 400x more net worth when compared to the average American household yet pays a lower tax rate. That is what *should* be the typical voter's biggest issue with him. He is completely disassociated from the average American and will never have any perspective on how the economy over the last 8 years has had an effect on the middle-class.

Lobbying and the homogeneous mix of corporate money and politicians is the fuel behind almost all legislation now-a-days - and Romney is the epitome of corporately-driven politics.

again, his tax rate is based on his investment income, he doesn't have earned income, he's paying the same rate as other Americans with investment income..if I am wrong please tell me but this doesn't seem complicated...


I think if I were Romney, I'd release the total $$$ figure for Federal Taxes that I'd paid during my working years and up through present, I imagine that's quite a tidy sum... and then ask if I'd paid "my fair share" and helped fund the Federal Government and all of its programs to an acceptable level through working my fair share of hours, creating my fair share of jobs, investing in my fair share of businesses and reinvesting my fair share of what was left after paying my fair share into the economy to create businesses and jobs and then ask the other candidates if their record of investment in America, in other Americans and the economy can compare.....:) Haven't heard anyone say what he's done illegally or unethically regarding his income or taxes or buisness ventures but for some reason he's guilty for being successful...I can't think of any major(or minor) scandals while he was governor or at any of the various ventures that he's been part of which all seem to have been highly successful....

also....he should release the total $$$ amount in charitable donations that he's been fortunate to be able to make during the same period as a result of his success

and then challenge the other candidates and the current occupant to show us how they've contributed to the same, how much...and how much as a result of private sector work and your own money vs. the perks of winning an election...I guess if it comes down to hiring someone that is going to invest your money wisely and make good decisions with it for the next 4 years...Mitt looks pretty attractive versus the others

Obama can't even produce a budget on time and thanks to the senate dems we haven't had one in a very long time

Ya, Romney's charitable giving was $3 million on his 2010 return.

LMAO, the great liberal who's liberalism declares you "really care
about the have nots", Joe Biden's charitable giving when he released his tax return
was $350 dollars. :hihi:

Good hearted Joe, last of the big givers.

Spence, that's it??????? That's your answer, all ya got to my post ???????
My questions to you???????????
Ya gettin lazy in your old age, or is it????????????? :D

I hurt my foot...not spending much time downstairs on the real computer and it's impossible to respond to that kind of post on the iPad. Waiting for the guy in India to tell me what my x-ray showed.

-spence

you shouldnt insert it into your mouth so much! :biglaugh:

Nah, my mouth is plenty big enough to hold my foot.

-spence

It may take some time, he's prolly doing some phone tech work
for verizon at the same time. :D

Seriously, hope your OK.

Many 2nd and 3rd shift X-ray reads are from India, country wide
Posted from my iPhone/Mobile device

Ya, wev'e come a long way!
Can't wait for Obamacare.

Romney is mormon. It was a tithe. Not that there is anything wrong with that. Nothing wrong either with questioning a tax system that taxes income from working at a higher rate than income from investments.

I agree, however the reasoning in this case is sound.
As you prolly know, dollars, already taxed at income levels, are invested in stock that gives capital to companies to hopefully expand and hire more employees.

The lower tax rate on possible gains is an incentive to invest.

Govt. does pretty good, double taxation with the 15% after the investor takes all the risks.

Yes, but income is income. The incentive is to make money from investment as opposed to making money from labor or services. The incentive to invest (lower rate) is a subsidy. If a person making 100,000 was taxed at a lower rate, they would have more money to invest. It is like saying the investment in a company by a millionaire is a more valuable use of money than a middle class person paying for their kids college. Whether a person makes their money from risk or not is irrelevant. Every business is risk. It is not double taxation. You invest $100 and make $10, you are only taxed on the $10.. You have $10 income taxed at 15%. Or in many cases millions of dollars income taxed at 15%

I see your point.
I believe the incentive of the capital gains tax code at a lower rate was to give
incentive to invest long term in our capitalistic system.
Short term gains are taxable a much higher rate as the $$ aren't staying to help growth. Just my simplistic way of looking at it.

Your right, every business is a risk and toget investors $$$ there has to be
incentive for return.
If your labor produces $100 it is taxed at $25. Tax #1. Take the $75 left
and invest it and your taxed again on any gains at 15%. Tax#2.
However you look at it,the Govt. wins twice on your Labor/ Investment. :)

I know what you are saying and I think about it at tax time too. However, based on the way the system works, for a small percentage of the country who are extremely rich, the way they make money for themselves is investments. If Gingrich gets his way, the capital gains taxes will be gone and those guys will make millions of dollars off investments and pay no taxes on it. But a plumber or contractor will pay taxes on their income from a risky business adventure that is arguably at least as valuable to our country and the economy. Doesn't come it in the wash as far as I am concerned.

Can't get into his mind Zimmy, but his reasoning must be with so much
cash sitting on the side line, with the market the way it is, by cutting the
capital gains, the $$$ would flow back into the market and stimulate
the economy?
If that is true, there should be additional tax cuts for the small buiness
man also to help him expand and stimulate the economy as well.
In addition,make 10% cuts in the current Govt. programs, stop the spending and we could start to bring our country back to live within it's means.

Money has flowed back into the market. It was below 7000 in 2009. It is over 12000, which puts it at historic highs except for the peak in 07-08 Money has not flowed into the middle class. Obama has cut taxes for small businesses, but probably could do more. I would want to see a payroll tax cut. In any case, the tax cuts won't mean much. Demand for products and services will. It is also why a tax program that has income taxes from working higher than investment income doesn't make sense. Get middle class people buying and spending and that would help. The economy will finally be stimulated when the housing market stabilizes and consumer confidence grows. 30% of home sales right now are foreclosures. It is killing the economy. Government spending at this time isn't killing the economy. Long term it is a problem. However, almost every economist will agree that a recession was not time to cut spending.

Good points, Zimmy.
Some money has flowed back into the market becasue people have
nowhwere else to turn. Money Mkts pay close to zero, the newer CD's
don't keep up with inflation so if a person needs to save or create income
the market is prolly the only place to go even though the Dow only returned
3% last year. Risky stuff for short term needs.
Long term, good dividend paying stocks should help but will the volume
be there to keep the prices up? Crazy time for savers.
Fed says interest rates wil remain low until at least late 2014.
Great for the borrower if he can get a loan.