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What did Romney want to do about the capital gains tax rate if he were elected?
honestly dont recall, doesnt matter because government already collects enough money, and most of it doesnt come by way of capital gains
Quote:
Originally Posted by jojajn
BTW, how much did Obama pay in taxes on capital gains? I didn't see any.
Whats it matter? An effective tax rate is an effective tax rate, and no where in the IRS code does it seperate tax rates by individuals careers. Anything to justify your hypocracy right?
Actually, the stock market has been doing quite well and corporations have access to significant cash. It's the job market that isn't doing well, mostly because corporations prefer to outsource to countries where labor is cheap and because there is a lack of demand in the economy.
A 20% rate of capital gain and dividend tax hardly consists of taxing investors into "oblivion."
But what you obviously refuse to understand is Obama went after high income earners (people like doctors, small business owners). Sure they may have investments but most income is just that income. Obama is taxing high income earners to oblivion. I just don't get why people who are so jealous of people.
Obama has a net worth of $11 million. He just released his 2012 federal income tax returns. He and the First Lady filed their income tax returns jointly and reported adjusted gross income of $608,611. The Obamas paid $112,214 in total tax.
Obama's effective federal income tax rate is 18.4%.
Actually, I agree Obama should have paid more income taxes. But, then again, I'm a big, bad socialist.
As someone who knows something about taxes, i think Obama's rate seems a little low for someone whose source of income was mostly ordinary (and not capital or dividend) income. I suspect he made significant charitable contributions, which would have reduced his taxable income.
honestly dont recall, doesnt matter because government already collects enough money, and most of it doesnt come by way of capital gains
Whats it matter? An effective tax rate is an effective tax rate, and no where in the IRS code does it seperate tax rates by individuals careers. Anything to justify your hypocracy right?
LOL! Romney said nothing about increasing the capital gains tax rate.
The good thing about the effective tax rate is it rewards people for donating to charity and allows for family expenses.
But what you obviously refuse to understand is Obama went after high income earners (people like doctors, small business owners). Sure they may have investments but most income is just that income. Obama is taxing high income earners to oblivion. I just don't get why people who are so jealous of people.
Taxing someone at 20% for income over 400k is not taxing someone into "oblivion."
And, most small business owners are not high earners.
He had to take some pretty aggressive deductions to do that. But go ahead peer-on defend Obama. And then wonder why the American people are hurting.
lets be honest, its not that americans dont pay enough, its that the government spends too much.
15% seems reasonable, but it does make him a hypocrite, just like anyone who suggests that its ok for Obama to pay 15%, but then attack others who pay the same rate
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