You didn't build that

[tonywaits]

Originally Posted by randolph

Well, it's not just Obama that would look shocked. When is Romney going to come clean on his taxes? All of them are liars. One term elections would eliminate a lot of this crap, just six years and that's it, no retirement no other cushy benefits. Candidates would be expected to serve their country for six years and then go home.

Romney came clean today, he paid almost 2 million in taxes for 2011 and donated 4 million to charitable organizations, which is 30% of his income. When will Biden and Obama donate those percentages?

[ila]

Originally Posted by randolph

Well, it's not just Obama that would look shocked. When is Romney going to come clean on his taxes? All of them are liars. One term elections would eliminate a lot of this crap, just six years and that's it, no retirement no other cushy benefits. Candidates would be expected to serve their country for six years and then go home.

Originally Posted by tonywaits

Romney came clean today, he paid almost 2 million in taxes for 2011 and donated 4 million to charitable organizations, which is 30% of his income. When will Biden and Obama donate those percentages?

The tax issue is a red herring and absolutely meaningless. What other candidate in a US election has ever released his/her tax records.

[randolph]

Originally Posted by tonywaits

Romney came clean today, he paid almost 2 million in taxes for 2011 and donated 4 million to charitable organizations, which is 30% of his income. When will Biden and Obama donate those percentages?

His tax rate was slightly under fifteen percent, what was your tax rate?

[tonywaits]

Originally Posted by randolph

His tax rate was slightly under fifteen percent, what was your tax rate?

So he only paid 15% on taxes, but donated 30% of his income to charity, and that's not enough. I guess you think it should all go to the government so it can be redistributed to the lazy, instead of the needy.

Would I be right in guessing that in the US, as it is in a lot of other countries, that giving money to charity is tax-deductable? In other words, it's a tax dodge.

And who were these 'needy' charities that he donated to? If it hasn't been disclosed, I'd be willing to bet a large chunk of it went to his church - who are hardly in need of any more cash the last time I looked...

[tonywaits]

Originally Posted by Natalie_J

Would I be right in guessing that in the US, as it is in a lot of other countries, that giving money to charity is tax-deductable? In other words, it's a tax dodge.

And who were these 'needy' charities that he donated to? If it hasn't been disclosed, I'd be willing to bet a large chunk of it went to his church - who are hardly in need of any more cash the last time I looked...

Where I live church's give to the needy, the government give to the lazy, for the most part.

[randolph]

Originally Posted by tonywaits

So he only paid 15% on taxes, but donated 30% of his income to charity, and that's not enough. I guess you think it should all go to the government so it can be redistributed to the lazy, instead of the needy.

He did not claim all his donations on his tax form to keep his rate above 13%, which triggers some kind of audit.

[tonywaits]

Originally Posted by randolph

He did not claim all his donations on his tax form to keep his rate above 13%, which triggers some kind of audit.

Perfectly legal, but do realize earned income and capital gains are taxed differently.

[GRH]

Originally Posted by tonywaits

Perfectly legal, but do realize earned income and capital gains are taxed differently.

THIS is one of the fundamental questions that must be addressed in any conversation about "equitable" treatment under the tax code. The rich hoot and holler about the "atrocious" marginal income tax rates; nevermind that the bulk of their income flows from investment gains which are taxed at much lower rates.

[tonywaits]

Originally Posted by GRH

THIS is one of the fundamental questions that must be addressed in any conversation about "equitable" treatment under the tax code. The rich hoot and holler about the "atrocious" marginal income tax rates; nevermind that the bulk of their income flows from investment gains which are taxed at much lower rates.

So you blame the rich for the tax codes that were made by politicians and apply to everyone.