I never paid less than 13% in Taxes

It's a losing battle; conservatives think that taxing the rich more is a transfer of their wealth to lazy middle class and poor people. After all, they "earned" it.

No use complaining, because conservatives are adamant on not taxing the rich more. They prefer to see our infrastructure crumble, our schools go broke, our police officers get fired from their jobs, and increase our national deb to fight wars.

The rabid right's problem is, when you boil it down, one person one vote. And the rabid right isn't the majority.

Rap

True! Even democrats in congress vote against Obama's proposals for legislation even knowing that the GOP is there to block everything Obama does.

With that kind of handicap, it's a useless government. There'a a reason why congress' performance rating is 10%. People continue to vote against their own self-interest to make this country weaker; I'll never understand why.

The tax Romney pays, is in a different category then regular income tax. Any one who has investment income has this same type of tax. This is the only reason he pays about the same or less then most people. Not all wealth people earn their income this way. If they are a CEO of a company, they are taxed the same way you are because the income is the same.

Here is an article explaining the difference between income tax and capital gains tax. It stems from double taxation on the money.

http://news.yahoo.com/why-investment-income-taxed-less-wages-200000141.html

Kind of like Warren Buffett then?

Yes exactly like Warren Buffet. Now if he had a regular CEO salary to run his investment firm, he would be paying a higher percentage in taxes then his secretary (fair share).

Why?

Salaries are taxed as ordinary income, unlike dividends and capital gains.

They all should be taxed as ordinary income.

And, if some sort of deal isn't reached, they soon will be. The current laws that put investment income taxation rates at 15% or so are due to expire at the end of this year, and revert back to normal rates of taxation.

Cycloptichorn

Should there not be some incentive to compensate for risk?

Isn't that called 'profit?' It's not enough that you earn money through zero effort of your own - you have to be incentivized to do so?

Cycloptichorn

If you got the original investment from wages, that money was taxed. If the stock you own gains value because the company you invested in makes a profit, those profits are taxed through the corporate tax. And if that company issues dividends, those are taxed as well.

As those are all separate transactions, they all SHOULD be taxed. You do realize that taxes are not on money, or wealth, but instead on transactions?

Cycloptichorn

Baldimo seems to ignore the taxes paid by workers - after they pay their income taxes, and get their pay checks. Sales taxes, excise taxes, liquor taxes, fuel taxes......

Some people just suffer from myopia.

CI I am a worker and I understand exactly what is paid. If you think I'm a rich dude you would be wrong, combined income in my household is less then $100,000. Taxes and fee's paid out my check include:

Fed Withholding, Fed MED/EE, Fed OASDI/EE, CO taxes, 401k, health insurance. The largest hit to my paycheck is the insurance which has been steadily climbing since TOHCA was passed. In fact my last raise turned out to be worth a whole whopping $30 because of the rise in cost of my health insurance. I will say it has always gone up in price, but the largest rise in the cost has happened since the passing of TOHCA.

The rest of the taxes you mentioned are paid by everyone who uses those items rich or poor. Lucky for me I don't pay liquor taxes because I don't drink.

Advertising. The most money buys the best advertising. And the medium is there to deliver it.

Yes. It's called reward and has nothing to do with taxes.

You say reward, Cyclo says profit. Those are what you get from risk free sale of your labor and skills. Neither acknowledges the risk associated with most investing activities.

If there were no more profit/reward from investments than savings instruments, why on earth would anyone risk their money.

Well, I certainly don't agree with this description.

Cycloptichorn