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Thread: Out. Of. Touch.

  1. #1
    Registered User LAGC's Avatar

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    Angry Out. Of. Touch.

    On Tuesday, the Republican presidential candidate finally admitted that the effective tax rate he has been paying for the last several years is likely below that of middle-class workers, which would also include military servicemembers.

    In Greenville, S.C., Romney was asked directly what his effective tax rate is. It was a hot topic of discussion at Monday night's debate, at which Romney repeatedly declined to fully commit to release his tax returns.

    "It's probably closer to the 15 percent rate than anything," said Romney on Tuesday. "For the past 10 years, my income comes overwhelmingly from investments made in the past, rather than ordinary income or earned annual income. I got a little bit of income from my book, but I gave that all away. Then, I get speakers fees from time to time, but not very much."

    Not very much? According to his personal financial disclosure, from February 2010 to February 2011, Romney earned $374,327.62 in speaking fees. A few months later, Romney joked that he was "unemployed."
    http://www.huffingtonpost.com/2012/0...n_1210522.html

    Yeah, I guess $374K is "not very much" when you're worth a quarter-billion dollars. I mean, it's only 10 times as much as the average person who actually WORKS for a living makes.

    No wonder he so casually threw around that $10,000 bet to Rick Perry, as if it were chump change. It really is to him!

    I hope this arrogant asshole gets a surprise upset on Saturday. I don't care by who. Newt, Santorum, Paul, whoever. Just don't let this filthy rich prick with a silver spoon in his mouth run away with the nomination.
    "That tyranny has all the vices both of democracy and oligarchy is evident. As of oligarchy so of tyranny, the end is wealth; (for by wealth only can the tyrant maintain either his guard or his luxury). Both mistrust the people, and therefore deprive them of their arms." -- Aristotle, Book V, 350 B.C.E

  2. #2
    Senior Member mriddick's Avatar

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    Hasn't the base money that made the 15% already been taxed? Isn't the idea against capital gains taxes that it's a form of double taxation?

    Traditionally making money isn't a bad thing if you're a R, I think the cayman deal if true will hurt as no one likes a tax dodge (we all like it when we do it but others no way... ) but regardless it shows Mitt can not think on his feet. If they can get Mitt off message he makes a mess of the interview every time.
    Last edited by mriddick; 01-19-2012 at 06:52 AM.

  3. #3
    Registered User LAGC's Avatar

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    Quote Originally Posted by mriddick View Post
    Hasn't the base money that made the 15% already been taxed? Isn't the idea against capital gains taxes that it's a form of double taxation?
    Well, I think the misnomer is that investment income comes from the initial investment (post-tax income), but it really doesn't. It's the fruit of the profits of the company (untaxed) that generate most of the new revenue that is then distributed to the share-holders in the form of dividends and what not. So it really ought to be taxed the same as work income, as it is NEW income.

    I just think it unfairly punishes people who actually work for a living to have to pay taxes twice as high as these upper-class investors. Ideally, they'd lower the tax brackets for actual workers and pay for it by upping the capital gains tax a bit to match.

    Traditionally making money isn't a bad thing if you're a R, I think the cayman deal if true will hurt as no one likes a tax dodge (we all like it when we do it but others no way... ) but regardless it shows Mitt can not think on his feet. If they can get Mitt off message he makes a mess of the interview every time.
    I just think Obama's going to tear him apart in the eyes of most working-class folk as aloof and an elitist if he becomes the nominee. Pitting some super-rich guy against a simple millionaire like Obama who came from a working-class background isn't going to sit well with many folks of more limited means. I honestly think Ron Paul would fare better against him in this regard.
    "That tyranny has all the vices both of democracy and oligarchy is evident. As of oligarchy so of tyranny, the end is wealth; (for by wealth only can the tyrant maintain either his guard or his luxury). Both mistrust the people, and therefore deprive them of their arms." -- Aristotle, Book V, 350 B.C.E

  4. #4
    Roadhouse Groupee

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    Romney earned $374,327.62 in speaking fees.

    who would pay that much to listen to him?

  5. #5
    Senior Member Solidus-snake's Avatar

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    Quote Originally Posted by LAGC View Post

    I just think Obama's going to tear him apart in the eyes of most working-class folk as aloof and an elitist if he becomes the nominee. Pitting some super-rich guy against a simple millionaire like Obama who came from a working-class background isn't going to sit well with many folks of more limited means. I honestly think Ron Paul would fare better against him in this regard.
    Hmm...show me how that Obama worked a job to earn millions? Then again I dont consider a pen-pushing lawman in the actual working class.

    And I dont think hell be "tear him apart in the eyes of the working class"since there wont be any present as his viewers will be mostly Democrats ill bet..
    Being ready is not what matters. What matters is winning after you get there.
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    Senior Member ATAK, Inc.'s Avatar

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    Quote Originally Posted by LAGC View Post
    I just think Obama's going to tear him apart in the eyes of most working-class folk as aloof and an elitist if he becomes the nominee. Pitting some super-rich guy against a simple millionaire like Obama who came from a working-class background isn't going to sit well with many folks of more limited means. I honestly think Ron Paul would fare better against him in this regard.

    So, 0bama isn't aloof and an elitist? As usual, LAGC please
    In High school I thought Paradise Lost meant no more Crap games!

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  7. #7
    Senior Member mriddick's Avatar

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    Quote Originally Posted by Solidus-snake View Post
    Hmm...show me how that Obama worked a job to earn millions? Then again I dont consider a pen-pushing lawman in the actual working class.

    And I dont think hell be "tear him apart in the eyes of the working class"since there wont be any present as his viewers will be mostly Democrats ill bet..
    True, the pipe line deal I think sort of shows the working class that obama is not for them.
    Last edited by mriddick; 01-19-2012 at 01:33 PM.

  8. #8
    Guns Network Contributor 04/2013 El Laton Caliente's Avatar

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    Quote Originally Posted by LAGC View Post
    Well, I think the misnomer is that investment income comes from the initial investment (post-tax income), but it really doesn't. It's the fruit of the profits of the company (untaxed) that generate most of the new revenue that is then distributed to the share-holders in the form of dividends and what not. So it really ought to be taxed the same as work income, as it is NEW income.

    I just think it unfairly punishes people who actually work for a living to have to pay taxes twice as high as these upper-class investors. Ideally, they'd lower the tax brackets for actual workers and pay for it by upping the capital gains tax a bit to match.
    Dividends paid by public companies have already paid a 35% corporate tax before the 15% capital gains tax is paid... The effective tax rate is 50%...

  9. #9
    Team GunsNet Silver 12/2011 N/A's Avatar

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    Quote Originally Posted by LAGC View Post
    a simple millionaire like Obama who came from a working-class background .
    Hmmm...would you detail that background for us please.

  10. #10
    Senior Member Focused Gunfire's Avatar

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    Money is not a bad thing, and having a lot of it is not bad ether. I am not a big fan of MR, but he work hard in his life to get to the point where people will pay to listen to him. Clinton also has reached that point in his career, and has raked in the mega bucks too. Good on him, he is working to help secure a better future for his offspring. O has made millions too with his books and investments.

  11. #11
    Senior Member Charliebravo's Avatar

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    Quote Originally Posted by LAGC View Post
    Just don't let this filthy rich prick with a silver spoon in his mouth run away with the nomination.
    Romney is filthy rich because he has run successful companies and made sound investments. I have far more respect for a man that earned millions legally than one who stole $100.

  12. #12
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    Quote Originally Posted by N/A View Post
    Hmmm...would you detail that background for us please.
    He can't. It's all be sealed or adjusted by his handlers. On purpose.

  13. #13
    Registered User LAGC's Avatar

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    Quote Originally Posted by N/A View Post
    Hmmm...would you detail that background for us please.
    I was just thinking of his time as community organizer, before he hit it off big as a state senator and made money off his books.
    "That tyranny has all the vices both of democracy and oligarchy is evident. As of oligarchy so of tyranny, the end is wealth; (for by wealth only can the tyrant maintain either his guard or his luxury). Both mistrust the people, and therefore deprive them of their arms." -- Aristotle, Book V, 350 B.C.E

  14. #14
    Senior Member mriddick's Avatar

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    The mighty 0 is worth some 7 million, yet has never held a private sector job.... Atleast we can guess how Romney made his money, obama not so much.

  15. #15
    Registered User LAGC's Avatar

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    Quote Originally Posted by mriddick View Post
    The mighty 0 is worth some 7 million, yet has never held a private sector job.... Atleast we can guess how Romney made his money, obama not so much.
    I honestly don't have as much of a beef with slightly rich folks who made most of their money through book, movie, or music sales. At least it was their own efforts and ideas that earned them money, not making it by exploiting other people's work, if not outright destroying jobs like Romney at Bain Capital.
    "That tyranny has all the vices both of democracy and oligarchy is evident. As of oligarchy so of tyranny, the end is wealth; (for by wealth only can the tyrant maintain either his guard or his luxury). Both mistrust the people, and therefore deprive them of their arms." -- Aristotle, Book V, 350 B.C.E

  16. #16
    Senior Member mriddick's Avatar

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    Quote Originally Posted by LAGC View Post
    I honestly don't have as much of a beef with slightly rich folks who made most of their money through book, movie, or music sales. At least it was their own efforts and ideas that earned them money, not making it by exploiting other people's work, if not outright destroying jobs like Romney at Bain Capital.
    Really? I'm just the opposite, not that I truly dislike anyone for what have managed to make in life but I tend to think the worse types of "rich" are the rich who do alittle and gain alot VS the people who work, risk and earn their riches. I've noticed many who make it big seem to equate their riches with intelligence, it's not always so (actually IMO seldom so). This is why you get some pretty silly people (think rich hollywood types) spouting off about subjects they have no business discussing or sport stars doing some pretty stupid things. IMO I think some of the best people in this world are those who had to fight for what they have, seldom is the self made man a spoiled brat, that's normally the next generation

  17. #17
    Team GunsNet Silver 12/2011 N/A's Avatar

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    Quote Originally Posted by LAGC View Post
    I honestly don't have as much of a beef with slightly rich folks who made most of their money through book, movie, or music sales. l.
    Of course not...Obama fits right in that class of people so you have to support them like you do Obama.

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    Quote Originally Posted by samiam View Post
    Romney earned $374,327.62 in speaking fees.

    who would pay that much to listen to him?
    Other rinos/liberals.

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