Romney 2012?

@Cycloptichorn,

Cyclo, I find it curious that mm wants to advocate for people like Romney who hardly pays any taxes, and never complains about the taxes he pay (if any).

I'm not sure how logic plays into this scenario, but from the top of my head, I call it "crazy."

All this while they advocate for more cuts in Medicare and social security, schools, police, and our infrastructure. I doubt very much they understand their road to the destruction of our country and its people, and simply put - it includes them.

That's one of many reasons why I continue to say, there's no cure for .......

1 Reply

@Cycloptichorn,

Cycloptichorn wrote:

mysteryman wrote:

Looking to increase his own taxes?
So you know for a fact that Obama is not taking advantage of every deduction and every loophole he can to reduce his tax burden?

Perhaps he is, but he's also explicitly campaigning on raising those same taxes - both in terms of income rates paid by the highest marginal groups, and in terms of taxes on investment income.

It's the polar opposite of Romney/Ryan, who are explicitly campaigning on lowering Romney's taxes, both in terms of marginal income taxes and investment taxes.

Cycloptichorn

Romney/Ryan are making plans to get the economy moving again while Obama is making plans to kill it. Raising taxes on Capital gains just assures that the transactions aren't made until the tax goes back down. By decreasing that tax on capital gains (the 13% tax you are talking about) means more transactions. No sense in holding on to stuff if the return is profitable. More transactions, more money trading hands, more movement in the economy. That's the plan anyways.

Now, increase that tax, where is the incentive?

Something to read The Romney Hood Fairy Tale

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@McGentrix,

Quote:

Romney/Ryan are making plans to get the economy moving again while Obama is making plans to kill it. Raising taxes on Capital gains just assures that the transactions aren't made until the tax goes back down.

It doesn't mean that at all. No one will let a gain sit there for long if it isn't continuing to gain or if it starts to drop. There are other gains to be made that more than offset the minor tax hit.

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@cicerone imposter,

Don't misunderstand me, I am not advocating for Romney.
If you go back and read my posts, you will see that I am being very consistent. I have said all along that Romney's taxes or Obama's taxes are none of our business.
The FEC and the IRS are satisfied with what they have filed, and the deductions they have claimed, so that is good enough for me, and should be good enough for you.

I also believe that people should be able to keep as much of what they earn as possible.
I understand the need for taxes, and yes,I do pay taxes every year.
BUT, before you go and raise taxes on anyone, I want to see a detailed, workable plan to cut spending across the board. Sure, that will include cutting defense, but there are many other things that can also be cut.

Lets try this, for every dollar taxes go up, there must be at least $1.50 in spending cuts also.
As for raising taxes on the rich to get them to pay their "fair share", you know as well as I do that they already lay the biggest part of all income taxes paid, so instead of hitting them first, lets go after all those people that pay no taxes at all, yet still get a refund every year. How much would that save if we just stopped giving them refunds?

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@McGentrix,

Quote:

Raising taxes on Capital gains just assures that the transactions aren't made until the tax goes back down.

BS. Can't put it any simpler than that.

Cycloptichorn

1 Reply

@mysteryman,

"As for raising taxes on the rich to get them to pay their "fair share", you know as well as I do that they already lay the biggest part of all income taxes paid, so instead of hitting them first, lets go after all those people that pay no taxes at all, yet still get a refund every year. How much would that save if we just stopped giving them refunds? "

we are going to tax the poor?

that's a great idea...

Rolling Eyes

1 Reply

@Cycloptichorn,

McG wrote,

Quote:

Raising taxes on Capital gains just assures that the transactions aren't made until the tax goes back down.

Taxes goes back down? LOL It's now at its lowest level, so how much further does he think it's going to go down? Didn't he hear about how much taxes Romney paid? Some people just doesn't have any idea how a millionaire can pay 13% in taxes while the blue collar workers pays more - including payroll deductions for federal, state, FICA, and unemployment taxes. FICA tax is 6.2%. Romney doesn't pay FICA taxes.

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@Rockhead,

I said lets stop giving refunds to people that don't pay taxes. Funny how you can read my entire post and that's the not thing you get out of it, and you got that wrong.

2 Replies

@mysteryman,

which people are you talking about that get refunds and pay no taxes?

1 Reply

@Rockhead,

Another of mm's ignorance. Most get children deductions that translates into credits and/or earned income credits to get refunds.

Poor families need these refunds to care for their families.

1 Reply

@cicerone imposter,

Doesn't everyone else need that same refund to care for their children?

1 Reply

@mysteryman,

so we are going to tax the poor?

please make up our minds...

1 Reply

@McGentrix,

McGentrix wrote:

By decreasing that tax on capital gains (the 13% tax you are talking about) means more transactions. No sense in holding on to stuff if the return is profitable. More transactions, more money trading hands, more movement in the economy.

Er...

This sounds great for anyone who's a stock broker, but I have a hard time understanding how it drives the economy in any other way.

I see two main reasons why your understanding of this is flawed:

1) I don't think it will speed up transactions at all... People tend to dump loser stocks from their portfolios, not stocks that are gaining, so taxes are not a consideration.
2) It will just lower the taxes raised from dividend and interest payments, which have nothing to do with how often stocks are bought or sold.

People may be able to buy a few more stocks with their unearned income, which may help the stock market. I, for one, don't think the Dow Jones Index should be an end in itself.

1 Reply

@mysteryman,

mysteryman wrote:

I said lets stop giving refunds to people that don't pay taxes. Funny how you can read my entire post and that's the not thing you get out of it, and you got that wrong.

Um... who, exactly, is it that's getting a refund for taxes they didn't pay?

Can you, like, point to someone this happened to? (Who isn't guilty of tax fraud, that is.)

1 Reply

@Rockhead,

YES, we are going to tax everyone that gets a paycheck, no matter who they are.
If you want to raise taxes, raise them on everyone, not just the ones you don't like.

If you want fairness, than lets make it fair.

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@DrewDad,

it's those sneaky single moms and disabled cheaters we're going after, DD.

danged freeloaders...

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@mysteryman,

like taxing food.

so the poor pay their fair share...

1 Reply

@DrewDad,

Stocks should be bought when low and sold when high, but that's not what happens in reality. People panic and sell when it's low, because they believe they're going to loose it all! That never happens, but fear makes people do dumb things. They never look at the long term of stock performance.

I'm up over 10% this year; and as anyone who's been watching the stock market knows, it's had its ups and downs.

When I sell my funds, I sell the worst performing funds. Tax rate is not a consideration; it has never been consideration.

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@cicerone imposter,

whaddya think about converting an IRA to a Roth IRA? Id have to withdraw from my IRA and then put it back as a Roth. Im doing the thinking now.

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@cicerone imposter,

cicerone imposter wrote:

Stocks should be bought when low and sold when high

...

When I sell my funds, I sell the worst performing funds.

Er... The first statement makes no sense when compared to the second statement.

I agree with your second statement however. People tend to dump losers, and keep winners, in order to avoid paying taxes. Or they at least balance it.

0 Replies

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