Do you pay more than 13%?

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Multimillionaire Mittzie doesn't...but he thinks you should





romney.jpg

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http://taxpolicycenter.org/taxtopics/romney-plan.cfm
 
shit. I'm an Independent Contractor, not by choice, but that's how most sales jobs pay. That means I pay 13% in FICA alone.
 
annata said:
shit. I'm an Independent Contractor, not by choice, but that's how most sales jobs pay. That means I pay 13% in FICA alone.
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Doesn't Multimillionaire Mittzie think people in his tax bracket should get more tax cuts?
 
\\\\()//// said:
Would his tax returns reveal whether or not Multimillionaire Mittzie thinks people in his tax bracket should get more tax cuts?
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I honestly don't know - he claims the Ryan budget "is not my budget". Since I have no intention of voting for him, i just do not know. My honest/best answer.
 
Under Paul Ryan's plan, Mitt Romney wouldn't pay any taxes for the next ten years -- or any of the years after that.

Now, do I know that that's true.

Yes, I'm certain.

Well, maybe not quite nothing.

In 2010 -- the only year we have seen a full return from him -- Romney would have paid an effective tax rate of around 0.82 percent under the Ryan plan, rather than the 13.9 percent he actually did.

How would someone with more than $21 million in taxable income pay so little?

Well, the vast majority of Romney's income came from capital gains, interest, and dividends.

And Ryan wants to eliminate all taxes on capital gains, interest and dividends.




Paul Ryan's plan is a path to prosperity.....for Mitt Romney


Ryan2.jpg

http://www.theatlantic.com/business...ercent-in-taxes-under-paul-ryans-plan/261027/
 
\\\\()//// said:
Under Paul Ryan's plan, Mitt Romney wouldn't pay any taxes for the next ten years -- or any of the years after that.

Now, do I know that that's true.

Yes, I'm certain.

Well, maybe not quite nothing.

In 2010 -- the only year we have seen a full return from him -- Romney would have paid an effective tax rate of around 0.82 percent under the Ryan plan, rather than the 13.9 percent he actually did.

How would someone with more than $21 million in taxable income pay so little?

Well, the vast majority of Romney's income came from capital gains, interest, and dividends.

And Ryan wants to eliminate all taxes on capital gains, interest and dividends.




Paul Ryan's plan is a path to prosperity.....for Mitt Romney


Ryan2.jpg

http://www.theatlantic.com/business...ercent-in-taxes-under-paul-ryans-plan/261027/
Click to expand...
thanks, i don't want cap gains/dividends, and interst taxed at the same rate as income -it would kill venture capitalist.
But LOWERING THEM? That's insane, if anything they need to be raise a bit - not the same rates as income tax ( because you can't write off buy a small of a failed venture).
 
What about corporate taxes?

Aren't they a double tax on savings and investment, so Romney's "real" rate is higher than his headline rate?

No.

As Jared Bernstein of the Center on Budget and Policy Priorities has pointed out, Romney has structured his investments as "pass-throughs" that avoid corporate tax.

In other words, the 0.82 percent tax rate is really a 0.82 percent tax rate.

It might seem impossible to fund the government when the super-rich pay no taxes.

That is accurate.

Ryan would actually raise taxes on the bottom 30 percent of earners, according to the nonpartisan Tax Policy Center, but that hardly fills the revenue hole he would create.

The solution?

All but eliminate all government outside of Social Security and defense...


http://www.theatlantic.com/business...ercent-in-taxes-under-paul-ryans-plan/261027/
 
\\\\()//// said:
What about corporate taxes?

Aren't they a double tax on savings and investment, so Romney's "real" rate is higher than his headline rate?

No.

As Jared Bernstein of the Center on Budget and Policy Priorities has pointed out, Romney has structured his investments as "pass-throughs" that avoid corporate tax.

In other words, the 0.82 percent tax rate is really a 0.82 percent tax rate.

It might seem impossible to fund the government when the super-rich pay no taxes.

That is accurate.

Ryan would actually raise taxes on the bottom 30 percent of earners, according to the nonpartisan Tax Policy Center, but that hardly fills the revenue hole he would create.

The solution?

All but eliminate all government outside of Social Security and defense...


http://www.theatlantic.com/business...ercent-in-taxes-under-paul-ryans-plan/261027/
Click to expand...
good points, tax policy is not my area, i'm relatively poor ( not that i careabout material weatlh), so i don't follow it much.

I'll have to read thru your links, looks like you've though this out - appreciatye it -
 
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