Taxing Romney
Romney is said to have made $22 million in 2010 and that money came from dividends and capital gains. At a modest rate of return of 7%, this might mean he was holding onto $308 million in investments only. The guy is very rich.
The rich have it real good in this country. Is it fair? - oh hell no.
CNN: Romney made $42.7 million in 2 years
The rich have it real good in this country. Is it fair? - oh hell no.
CNN: Romney made $42.7 million in 2 years
The reason Romney's rate is so low -- despite having one of the highest incomes in the country -- is because his income was derived almost entirely from capital gains and dividends from his extensive portfolio of investments. And that form of investment income is typically taxed at just 15%, well below the 35% top tax rate for high earners.
posted by Sande at
10:07 AM
7 Comments:
Will Romney catch hell for doing well and obeying the tax law? Isn't that what we all try to do?
It's not fair, I agree. But it doesn't seem to be a fair indictment of Romney either.
Right now there is a lot of interest in the rich and their tax paying requirements largely because of the Occupy Movement. I think it could hurt Romney even though he is, as you say, playing by the rules. Its always a matter of context right?
Yes. I think it will definitely hurt Romney because he is a prime example of the one percent. Here's a guy who makes 20 mil a year and pays 15% taxes. He may as well be from another planet.
He's way too much "the rich guy," an alien. Add to that that he's getting a free ride as far as taxes go and it's really galling.
Still, I have nothing against him or any other rich people, he's playing by the rules.
I think one of the worst aspects of our presidential voting process is that we end up with two candidates that have the real approval of maybe 10% of the population. Everybody else is just trying to squint their eyes and pretend they look good. If Romney wins the party nomination, the GOP/Tea Party will turn out to vote for him regardless. Its the GOP leaning independents that might fall off his bandwagon.
Romney acts as though he was born to be King. He's the anti-Kennedy and people know if he gets in all he'll do is feather his and his pals nests.
One analyst remarked that he's the whitest candidate.
Gingrich is pretty white too though, pompous ass.
Geez.
Gingrich is just way to divisive. If he gets elected the country will splinter even more.
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