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Mitt Romney and the Cayman Islands

I agree..... everyone should pay the exact same tax rate...... its about time the freeloaders actually pay some....... as for his worker making "45K" she paid ZERO in taxes is my guess (Id have to know more about her to state that as fact.... but based on policy my guess is she actually received a higher refund than she actually paid in) ....... so her rate was probably much lower in reality.... like zer0
 
copestag said:
I agree..... everyone should pay the exact same tax rate...... its about time the freeloaders actually pay some....... as for his worker making "45K" she paid ZERO in taxes is my guess (Id have to know more about her to state that as fact.... but based on policy my guess is she actually received a higher refund than she actually paid in) ....... so her rate was probably much lower in reality.... like zer0
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I agree on a national sales tax. Then it is actually fair and equal. The poor buy less dollar value, so they would pay less. The rich spend more and would pay more
 
as439726 said:
I agree on a national sales tax. Then it is actually fair and equal. The poor buy less dollar value, so they would pay less. The rich spend more and would pay more
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The only problem with a national sales tax is that if you make $200,000+ a year, buying something like a car is going to affect you less than if you made $50,000 a year.

The other way I tend to view candidates is if they are from old money or new money. Someone that grew up from old money can't relate to the average Joe. Romney claims that if you want to get ahead, just borrow a few hundred thousand from your relatives to go to school. It would be nice if we all had rich relatives that could give us low interest loans....
 
TxGoat said:
The only problem with a national sales tax is that if you make $200,000+ a year, buying something like a car is going to affect you less than if you made $50,000 a year.

The other way I tend to view candidates is if they are from old money or new money. Someone that grew up from old money can't relate to the average Joe. Romney claims that if you want to get ahead, just borrow a few hundred thousand from your relatives to go to school. It would be nice if we all had rich relatives that could give us low interest loans....
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You make good points. Just keep in mind the $50,000 guy buys a less expensive car than the $200,000+ guy, so less tax spent
 
as439726 said:
You make good points. Just keep in mind the $50,000 guy buys a less expensive car than the $200,000+ guy, so less tax spent
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Well, a car isn't the best example, figure a dish washer, a microwave oven, clothes, etc. Guy making more money is going to pay a smaller percentage of tax. Add to that, the fact that it might discourage some spending which isn't good for the economy. But you are right, the tax laws need to be updated to ensure people pay their share. I personally would like to see wall street execs pay a high enough tax rate to repay for all the bailouts from Bush's last year in office, which ironically is the biggest act of socialism in our country's history, yet it's Obama who's the out of control socialist....... Go figure.
 
as439726 said:
I still agree that the system is broken, but I do believe that the Dems are dead on about the fact that those who make over 200k should not post a lower tax rate than those making 60 k.
Case in point: Mitt Romney openly stated his tax rate is no more than 15%. Yet his worker making 45k pays a higher rate and can barely cover supporting a spouse and 3 children. That, my friends, is one reason just on it's own to never vote Republican.
Just ask Warren Buffet. He has the right idea on the disparity between the classes.
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Those guys pay different taxes because they have different income streams. Guys like Buffet make the lion's share of their money (if not all of it) off capital gains. Those are taxed at much lower rates. You start raising rates on capital gains and you shoot retirees in the foot. That's not going to endear you to anyone.
 
Also, I'm continuing to look for an explanation on what someone's "share" or "fair share" is. I see those tossed around all the time and they seem to usually translate to "tax rich people more."
 
A.Nonymous said:
Also, I'm continuing to look for an explanation on what someone's "share" or "fair share" is. I see those tossed around all the time and they seem to usually translate to "tax rich people more."
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Very true. It's a murky pond defining it.
I still think the best solution is a national sales tax.
 
I know the GOP talks about "entitlement spending" and likes to look down their nose at the poor and the elderly when it comes to medical expenses and day to day living expenses (food shelter etc), but I don't understand how they can judge those that have no power nor control over their situation (I'm not referring to the ones that cheat the system because there are plenty of welfare cases that do in fact cheat the system) but they feel that people making over 250K should be "entitled" to lavish lifestyles while many people are trying to survive day to day.

I personally find it a little backwards that a person can put an honest 8 hours (most likely more than 8 hours) worth of work and gets taxed more than someone that is enjoying a life of leisure via the luxury of vulture venture capitalism or any other income that does not require actual work. I find that sense of entitlement to be about the same as the welfare case that believes he "deserves" to have money to eat.

Of course, the GOP will try to convince people that those living off of the backs of others are some sort of royalty that deserve our adoration else they'll leave our shores for countries that give them a pass on their gluttonous wealth.

If people like that Facebook idiot want to leave this country to avoid paying taxes on the money they earned while here then I say good riddance. This country was founded in defiance of the tyrannies being levied on its people by the English. The English also felt they were entitled to the spoils of all the hard work being done by the colonials. History has taught us what happens when those in power siphon all the wealth and prosperity for themselves.

Of course, you still have those people that will follow blindly because they've been brainwashed to believe that they're on the verge of breaking through that glass ceiling and participating in the spoils of victory. Once they've figured out that the ceiling isn't made of glass, but concrete, I believe the phrase "going postal" will apply.

Hell, now that I think about it, it can't be a coincidence....

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You do realize that those earning $250k a year didn't just wake up and find themselves there. They worked to get there. Was some of it being in the right place at the right time? Sure. But you don't earn that much a year while simultaneously being a complete moron. If you're stupid, it'll catch up to you. Why should they not be entitled to the fruits of their labors?
 
TxGoat said:
If people like that Facebook idiot want to leave this country to avoid paying taxes on the money they earned while here then I say good riddance.
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did you know that the "facebook idiot" hasn't lived in the US since 2009 and has no plans to return. His life is in Singapore now. He didn't decide to leave to avoid paying taxes ... he left 3 years ago. And he wasn't born in the US either.
 
A.Nonymous said:
You do realize that those earning $250k a year didn't just wake up and find themselves there. They worked to get there. Was some of it being in the right place at the right time? Sure. But you don't earn that much a year while simultaneously being a complete moron. If you're stupid, it'll catch up to you. Why should they not be entitled to the fruits of their labors?
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The problem lies in the reality that most of the 250k+ people pay a lower tax rate than those under 100 k. That, my friend, is where fair is not fair at all.
 
JimmyRayBob said:
did you know that the "facebook idiot" hasn't lived in the US since 2009 and has no plans to return. His life is in Singapore now. He didn't decide to leave to avoid paying taxes ... he left 3 years ago. And he wasn't born in the US either.
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He should've renounced his U.S. citizenship 3 years ago then. Of course, he wanted to enjoy the benefits of being a U.S. citizen (granted the benefits aren't what they used to be I'm sure). It just rubs me the wrong way that as soon as he started making his money, he ran for cover.


As far as people making over 250k a year working hard to get there, that's making the same assumption that people that lost their homes, or became homeless didn't work hard. There are always exceptions to the rule, and I'm not saying that anyone making $250k doesn't work hard, but there are people that aren't actually doing any measurable work, and only live off of their money and think they're entitled to pay less tax on it than people that actually work for their income.


Here's my example. Take Joe Jackson (the father of the Jackson 5, Michael, Janet, etc), he pimps out his children who do the work of singing, performing, etc. For his "services", he takes X amount but doesn't get taxed as heavily as his children do on their income (just humor me, I'm sure they weren't getting much in the form of income while working for their slave-driver father). Why should he get to keep more of his money on top of the fact that he's not actually producing any real measurable work?
 
as439726 said:
The problem lies in the reality that most of the 250k+ people pay a lower tax rate than those under 100 k. That, my friend, is where fair is not fair at all.
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That's a flaw in the tax code. The code is so ridiculously complex and it's filled with all kinds of loopholes as well. There is not a single person on the planet who honestly understands the code. The wealthy can hire scores of people who, working together, can uncover holes in the code that can be exploited. That's not evil IMO. If someone offered me scores of people who would do the same thing and it wouldn't cost me a dime, I'd go for it. Who wouldn't? The problem isn't with the people, it's with the code and fixing the code by making it more complex ain't the answer.
 
A.Nonymous said:
You do realize that those earning $250k a year didn't just wake up and find themselves there. They worked to get there. Was some of it being in the right place at the right time? Sure. But you don't earn that much a year while simultaneously being a complete moron. If you're stupid, it'll catch up to you. Why should they not be entitled to the fruits of their labors?
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Romney got started with "bust out" financing from Michael Milken. Romney took no risk, money invested in takeover companies was soon repaid by taking on debt to pay Romney for the investment, plus fees. The companies were then forced to cut wages, benefits and workers to make debt payments. These tactics often hollowed out the company which resulted in bankruptcy with the government forced to cover the gutted pension funds. Romney always got his money upfront.

​
Romney is not a businessman, he shifts wealth from companies and workers to his bank account.

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"Private equity (PE) is not about creating jobs, it​
 
Targaryen said:
Yeah, it blows me away that rush Limbaugh is the #1 radio personality. Statistics like that make me understand why our country is in the shape it is in.
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You do not listen to him so why comment? Most people that do not listen often go by what the libs or some bloggers report and they are always wrong.
 
OutofDate1980 said:
To protect the body politic from the evils of Big Fat Idiots.:D​
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How about a few facts? I refuse to visit a link with "big fat idiot" in the URL; it tells me what I need to know before I waste my time.

The problem with all Rush haters is they are reacting to what they read and nary a fact in sight. I suspect it is laziness and it is always easier to find a few handy quotes on the web to "prove" their point than actually do a little research.
 
Bob Maxey said:
... Forbes once reported that Limbaugh made fun of Michael Fox's disease by claiming Fox stopped taking his meds before he appeared before congress. When in fact, Fox did just that and he said so on Oprah's show as well as in his book.

Forbs reported that Limbaugh sold the letter written by Harry Reid and signed by a pile of Democrats for a few thousand dollars when in fact, the letter raised more than 4 million dollars.

As for ad revenue, it is up but exactly by how much is a closely guarded secret. He is doing just fine. ....
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Well, since you are making these three claims, why don't you post your sources ?

Claim number one. Rush Limbaugh Trashes Michael J Fox - YouTube

Claim number two is somewhat bizarre, Limbaugh under reported income ?.

Claim number three, so you're an insider with this closely guarded secret ?

Perhaps you should start a new thread, Why I have to spend so much time pulling my Big Fat Idiot hero's foot out of mouth ?
 
Bob Maxey said:
Care to cite some legitimate examples? Forbes once reported that Limbaugh made fun of Michael Fox's disease by claiming Fox stopped taking his meds before he appeared before congress. When in fact, Fox did just that and he said so on Oprah's show as well as in his book.

Forbs reported that Limbaugh sold the letter written by Harry Reid and signed by a pile of Democrats for a few thousand dollars when in fact, the letter raised more than 4 million dollars.

As for ad revenue, it is up but exactly by how much is a closely guarded secret. He is doing just fine.

How about posting a few things you heard him say that you disagree with rather than digested drivel posted by the left?

Thought not, good day
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Cat got your tongue ? Enjoying too much single malt Scotch ? Digesting your own drivel ? More than likely, still trying to remove Big Fat Idiot's foot from body cavities.
 
Perhaps Romney's debate coach Leona Helmsley, We don't pay taxes. Only the little people pay taxes, should be outsourced.

Mitt Romney: Cayman Islands Accounts Used By Foreign Investors To 'Not Be Subject To' U.S. Taxes

"By taxes "outside of their own jurisdiction," Romney is referring to taxes imposed by the U.S. government.

"He's basically admitting here that the Bain funds are set up in the Cayman Islands to help people avoid tax," said Rebecca Wilkins, senior counsel for federal tax policy at Citizens for Tax Justice, a nonprofit tax reform group. "If you want to cheat on your taxes, boy, they're making it really easy.""
 
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