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Since Mitt Romney released his taxes, the predictable debates about his tax rates and all the loopholes he used have come up. I'm going to attempt to explain why this is such an issue from the democrat side. I think most sane democrats recognize and acknowledge that nothing mitt romney has done with his taxes are illegal. He did everything by the book, and that is enough for me. I think what republicans fail to understand is that, just because something is legal, doesn't mean it should be used, or at the very least it will come across as just plain greedy. I don't believe this, but I think its the underlying issue most democrats have with him. Mitt Romney is worth an estimated 250 million dollars and i think this year he made 23 million in investment income. The U.S. tax code is very complex and is just a maze of sh*t, with loopholes and exceptions, deductions, credits, etc. Its just a lot of crap, but with all that, instead of mitt just paying a 35% tax rate and just being done with it, he hires lawyers and accountants to find every little loophole, trick, whatever to lower his tax rate and while it is legal, it just comes of as being greedy and looking to pay very little when the simple reality is, even if he paid 35%, he would still have more than most americans after taxes. Nobody is in position to tell somebody how much they need to live on, but anybody with an I.Q. above peanut butter knows most americans get by everyday with a fraction of what mitt makes, and when they see somebody go through the lengths to put money in LEGAL offshore accounts and set up a trust that helps him avoid paying a hire tax bill, it just leaves a bad taste in your mouth. The other thing is, with republicans, their polices are seen as mostly benefiting corporations and the wealthy, and so when you combine the two, Mitt Romney gets a attacked by the liberal media for his tax returns. I could be absolutely wrong about what I said, and I know that republicans will just rip me, but I'm fine with it.
Anyone with any sense will use the existing US tax code to their benefit....folks will "normal" incomes only need read the instruction booklet to do their taxes....I'm talking folks with W-2 income and a few investments. However, if you have stocks, mutual funds, bonds and income from corporations, it becomes MUCH more difficult to figure out our tax code. You HAVE to hire someone who has studied extensively HOW TO PREPARE your taxes!
The solution is to get rid of the tax code and implement a simple, flat-rate tax. Of course, the CPA lobbies will fight that to the death!
Romney, and most others with gobs of money are not "cheating" or being "greedy"....they are following the law as set forth by those we've elected.
Since Mitt Romney released his taxes, the predictable debates about his tax rates and all the loopholes he used have come up. I'm going to attempt to explain why this is such an issue from the democrat side. I think most sane democrats recognize and acknowledge that nothing mitt romney has done with his taxes are illegal. He did everything by the book, and that is enough for me. I think what republicans fail to understand is that, just because something is legal, doesn't mean it should be used, or at the very least it will come across as just plain greedy. I don't believe this, but I think its the underlying issue most democrats have with him. Mitt Romney is worth an estimated 250 million dollars and i think this year he made 23 million in investment income. The U.S. tax code is very complex and is just a maze of sh*t, with loopholes and exceptions, deductions, credits, etc. Its just a lot of crap, but with all that, instead of mitt just paying a 35% tax rate and just being done with it, he hires lawyers and accountants to find every little loophole, trick, whatever to lower his tax rate and while it is legal, it just comes of as being greedy and looking to pay very little when the simple reality is, even if he paid 35%, he would still have more than most americans after taxes. Nobody is in position to tell somebody how much they need to live on, but anybody with an I.Q. above peanut butter knows most americans get by everyday with a fraction of what mitt makes, and when they see somebody go through the lengths to put money in LEGAL offshore accounts and set up a trust that helps him avoid paying a hire tax bill, it just leaves a bad taste in your mouth. The other thing is, with republicans, their polices are seen as mostly benefiting corporations and the wealthy, and so when you combine the two, Mitt Romney gets a attacked by the liberal media for his tax returns. I could be absolutely wrong about what I said, and I know that republicans will just rip me, but I'm fine with it.
Dont you want a president smart enough to know to hire tax guys to keep as much money as possible? Maybe they can cut some govt red tape and sace us some money.
If people are outraged by this, they are either in the 3% that paid more (not likely) or they don't understand their own tax rate at all (very likely).
ETA: And for your greedy arguement, people who are good with money generally don't like to hand over to be wasted. He gave $4 million dollars to charity in 2011, out of a $12 million dollar salary. Hardly greedy. I'm sure a good portion of that went to the Mormon church, but my church does some amazing things for needy people. We run multiple homeless programs, give 60,000 pounds of food to our local food bank, etc. etc.
My husband and I have worked hard and been successful. We don't pay more taxes than necessary per the tax code, it's insane to throw good money after bad. We happily give directly to our local schools, quaility charities, etc. And we have more money to give to those programs b/c we do save on our taxes.
Since Mitt Romney released his taxes, the predictable debates about his tax rates and all the loopholes he used have come up. I'm going to attempt to explain why this is such an issue from the democrat side. I think most sane democrats recognize and acknowledge that nothing mitt romney has done with his taxes are illegal. He did everything by the book, and that is enough for me. I think what republicans fail to understand is that, just because something is legal, doesn't mean it should be used, or at the very least it will come across as just plain greedy. I don't believe this, but I think its the underlying issue most democrats have with him. Mitt Romney is worth an estimated 250 million dollars and i think this year he made 23 million in investment income. The U.S. tax code is very complex and is just a maze of sh*t, with loopholes and exceptions, deductions, credits, etc. Its just a lot of crap, but with all that, instead of mitt just paying a 35% tax rate and just being done with it, he hires lawyers and accountants to find every little loophole, trick, whatever to lower his tax rate and while it is legal, it just comes of as being greedy and looking to pay very little when the simple reality is, even if he paid 35%, he would still have more than most americans after taxes. Nobody is in position to tell somebody how much they need to live on, but anybody with an I.Q. above peanut butter knows most americans get by everyday with a fraction of what mitt makes, and when they see somebody go through the lengths to put money in LEGAL offshore accounts and set up a trust that helps him avoid paying a hire tax bill, it just leaves a bad taste in your mouth. The other thing is, with republicans, their polices are seen as mostly benefiting corporations and the wealthy, and so when you combine the two, Mitt Romney gets a attacked by the liberal media for his tax returns. I could be absolutely wrong about what I said, and I know that republicans will just rip me, but I'm fine with it.
How do you know, are you willard's accountant?
He's got to be hiding something, otherwise he would fully disclose all returns.
You just keep on thinking willard is a by the book guy, as for some of us, we think otherwise.
Romney didn't even use all the "loopholes" that he could have which caused him to pay more in taxes than he had too. But, of course, he has been criticized by the libs for doing that too. Thanks for the explanation, Nighttrain. But, no matter what Romney has done with his money would ever make the libs happy. We now think success in this country is evil.
obviously they use the same laws, but like I said at the end of my post, when you combine his taxes, with republicans policies that, rightly or wrongly, are seen as favoring the rich and corporations, it looks like you are just being greedy and only caring about the top 1%.
How do you know, are you willard's accountant?
He's got to be hiding something, otherwise he would fully disclose all returns.
You just keep on thinking willard is a by the book guy, as for some of us, we think otherwise.
He is not going to disclose them because we would simply distort what we read and use it against him. Look i'm a democrat, and will vote for obama regardless, but lets quit acting like we wouldn't use his taxes against him.
He is not going to disclose them because we would simply distort what we read and use it against him. Look i'm a democrat, and will vote for obama regardless, but lets quit acting like we wouldn't use his taxes against him.
I commend you for your honesty. It's hard to come by on this forum most of the time. +1
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