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Romney Releases 20 Years Of Tax Returns

Zero-point-zero percent cheating. More charity donations than taxes paid. Huh?

submitted by: 5Cats
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Romney Releases 20 Years Of Tax Returns. Zero-point-zero percent cheating. More charity donations than taxes paid. Huh?
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Hits: 6394 | Favorites: 0 | Emailed: 0 | Rating: 1.8 | Category: News & Politics | Date: 09/21/2012
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Male, 30-39, Southern US
 1061 Posts
Sunday, September 23, 2012 2:54:59 PM
Hmmm, now if we just get Obama's college transcripts and a real birth certificate (check the hospitals in Kenya), we`d be all set!

Male, 40-49, Midwest US
 17367 Posts
Saturday, September 22, 2012 3:18:45 PM
HG: Actually 15% would sustain the government. Forbes did a study and figured it out. Of course he was talking about eliminating income tax completely and instituting the 'flat tax` as a federal sales tax (with an exception for foodstuffs).

Male, 30-39, Western US
 5561 Posts
Saturday, September 22, 2012 3:05:24 PM

"I was thinking between 6%-10%"

Well that could never sustain the operating cost of the government. Obviously you want to lower the operating cost, as do I, but that is a separate conversation and something that takes time.

Male, 30-39, Western US
 5561 Posts
Saturday, September 22, 2012 3:00:49 PM

"Look up 'capital gains` on wikipedia to learn more."

I know how capital gains works. My family was relatively wealthy. But I don`t see how that changes my statement.

I think there should be a set tax rate for the amount of money you take in whether it is investment, payroll, or lemonade stands.

If you make under $50,000 you pay no income taxes. If you make over $30 million you pay 30%. In between it is on a sliding scale.

That would vastly lower the tax burden on the lower and middle class while sustaining the operating of the government, eliminating budget deficits, and paying down the national debt.

I think getting to pay taxes should be a privilege that people strive for because it means you have reached a level of success where you can take care of your family, assist your country, and still have plenty left over.

Male, 40-49, Southern US
 4242 Posts
Saturday, September 22, 2012 2:19:11 PM
@CrakrJak: I hear ya, that's why there should be a flat tax. everyone (except the poor) paying the same rate regardless of the source of that income.

Damn, it`s a banner day--I agree with that entirely (although I`d add a caveat about no loopholes, no exemptions)! I do think there should be one exception, as you say, too, for those making less than whatever minimum is decided (i.e. the minimum required to survive plus 10%, or something like that), but, otherwise, I`m all for it, CrakrJak.

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