Romney pays 15% tax

[PorkPie]

Mitt Romney pays lower taxes than average American | World news | The Guardian

"I pay all the taxes that are legally required and not a dollar more," he said. "I don't think you want someone as the candidate for president who pays more taxes than he owes."

Good lad. F88ked now though in terms of his presidential ambition though I'd have thought.

[AtW]

That's just CGT 15% on investments, pretty reasonable level and it's good that he makes money in USA and pays a lot of taxes $6 mln in the last two years according to the article.

Now if he did use some artificial offshores to cut down tax to 0%, then it would be problem and right now he is only "guilty" in being wealthy and continueing to invest to make money. Nothing wrong with that.

[Notascooby]

I think he's on to a winner!

The U.S voters think of what they might become - they embrace the myth that anyone can just get out of their static caravan and suddenly become a multi-millionaire.

That's why they vote republican - they vote in tax cuts for the top 1% thinking that when they join that group it will be good for them. They vote against welfare and free health care despite the vast amount of people declared bankrupt each year when caught in the health care doughnut MMS: Error.

Its a crazy mindset but by paying his due but not a cent more is what these people want.

The people who'll be up in arms are already democrat voters.

[gingerjedi]

That's just CGT 15% on investments, pretty reasonable level and it's good that he makes money in USA and pays a lot of taxes $6 mln in the last two years according to the article.

Now if he did use some artificial offshores to cut down tax to 0%, then it would be problem and right now he is only "guilty" in being wealthy and continueing to invest to make money. Nothing wrong with that.

Why is tax on gains lower than tax on toil? ...No need to answer that.

[AtW]

Why is tax on gains lower than tax on toil? ...No need to answer that.

Answer is simple - those with lots of money to invest can take them anywhere in the world, so if you do not have sufficiently favourable tax climate for these guys you'd get 0% tax rather than 15%. Proper investment will create jobs so further taxes will be paid.

Country that desires to give its citizens chance to earn wealth should have appropriate taxes for it.

It's not a loophole there - it's not like he flipped house to avoid paying CGT, he appears to have pait it at full rate and who is there to say it was disguised salary rather than investment income?

[hugebrain]

Why is tax on gains lower than tax on toil? ...No need to answer that.

Duh, it's because the companies who made the gains have already been taxed. You know, like a contractor pays corporation tax then can declare dividends up to a certain amount and not suffer double taxation.

Also I suppose because a lot of capital gains are illusory and just a symptom of the Obammunists debasing the dollar.

[Peoplesoft bloke]

I think he's on to a winner!

The U.S voters think of what they might become - they embrace the myth that anyone can just get out of their static caravan and suddenly become a multi-millionaire.

That's why they vote republican - they vote in tax cuts for the top 1% thinking that when they join that group it will be good for them. They vote against welfare and free health care despite the vast amount of people declared bankrupt each year when caught in the health care doughnut MMS: Error.

Its a crazy mindset but by paying his due but not a cent more is what these people want.

The people who'll be up in arms are already democrat voters.

This crazy aspirant fantasy explains why people kept voting for Thatch and to a lesser extent Major even though they were being shafted.

[Peoplesoft bloke]

That's just CGT 15% on investments, pretty reasonable level and it's good that he makes money in USA and pays a lot of taxes $6 mln in the last two years according to the article.

Now if he did use some artificial offshores to cut down tax to 0%, then it would be problem and right now he is only "guilty" in being wealthy and continueing to invest to make money. Nothing wrong with that.

I'm surprised it's as much as 15% - bet you wouldn't catch many or "our" super-rich paying that much.

[AtW]

I'm surprised it's as much as 15% - bet you wouldn't catch many or "our" super-rich paying that much.

Yeah me too to be honest, though he only released tax returns for last 2 years and seems to be very reluctant to do for earlier years, it if turns out he paid a lot less - like near 0% then it can doom his presidential bid.

[TheFaQQer]

Romney pays 15% tax

US Republican hopeful Mitt Romney pays 13.9% tax