Compare your tax rate to Romney's

[saloman]

You could be paying a higher tax rate than someone making $100 million this year. And that's just how Mitt Romney wants to keep it.

It's not hard to see why: Romney personally benefits from the unfair system, taking advantage of loopholes and tax havens that aren't available to middle-class families.

http://my.barackobama.com/Buffett-Rule-Calculator

Interesting exercise.

[ToPHeR35]

Really??? Using Obama's own website?


Thread is ridiculous.

[Carpig]

Once again, you fail to differentiate between investment income/capital gains and wage income.

If Mitt Romney's income was entirely wages, he would pay in the highest tax bracket.

[saloman]

Really??? Using Obama's own website?


Thread is ridiculous.

Are the numbers stated as facts on the site wrong?

[Carpig]

Are the numbers stated as facts on the site wrong?

They are incomplete and misleading at best.

[ToPHeR35]

Are the numbers stated as facts on the site wrong?

Who the **** cares?

This whole argument is ridiculous in the first place.

brb wanting millionaires to pay more taxes to solve what? Throwing a few more pennies at an over $4 tril worth of deficit? Yea, that'll fix it! This whole progressive taxation issue is why the system is ****ed up in the first place!

This will not solve anything related to the deficit!

liberal logic...

[nutsy54]

So... Romney uses "loopholes and tax havens" because Congress has decided that investment income should face lower tax rates; while Obama is a grand and generous guy who's simply making use of the existing tax deductions to keep his own effective tax rate so low.

Partisan hypocrisy at its best.


Even funnier that the BarackObama site highlights this calculator - Since Mr. Obama falls in the category of "pays a lower effective tax rate than his secretary", which the Buffet Rule was supposedly designed to address... yet the rule designed by Mr. Obama doesn't apply to his own income. And the White House has stated he has no intentions of actually paying what he expects & demands all the other rich folks to pay.



Obama clearly promised to implement tax increases for himself, then turned around and did the exact opposite with his "Buffet Rule" proposal that conveniently doesn't apply to him based on income, even though he meets the criteria of paying a higher rate than his secretary.

Barack Obama: "...we need to change our tax code so that people like me, and an awful lot of members of Congress, pay our fair share of taxes".

BRB - "people like me"... as long as it's not "me"

[brighamw]

[saloman]

They are incomplete and misleading at best.

Do you pay a higher tax rate than the 400 richest people in the country? I do. Should you?

[ToPHeR35]

So... Romney uses "loopholes and tax havens" because Congress has decided that investment income should face lower tax rates; while Obama is a grand and generous guy who's simply making use of the existing tax deductions to keep his own effective tax rate so low.

Partisan hypocrisy at its best.

And Obama has the audacity to say "the rich need to pay their fair share" during a morning speech and then come back around during a dinner hour fundraiser and beg these "rich" for donations to his re-election campaign...

[ToPHeR35]

Do you pay a higher tax rate than the 400 richest people in the country? I do. Should you?

It's your fault for voting in members of Congress who changed the tax rate in such a way.

[nutsy54]

Do you pay a higher tax rate than the 400 richest people in the country? I do. Should you?

And what, exactly, is the tax rate paid by the "400 richest people in the country"...?

We can see that the top 0.1% (138,000 taxpayers) receive 7.8% of all income... yet pay 17% of all income taxes. Is that "fair"?
http://www.taxfoundation.org/news/show/250.html (Tables 2, 3, and 4)

[McBlouster]

This whole progressive taxation issue is why the system is ****ed up in the first place!

please explain

[amtharin]

I paid a lesser percentage in taxes than Mitt Romney.

[ToPHeR35]

please explain

http://en.wikipedia.org/wiki/Progressive_tax

http://one-simple-idea.com/TaxComparison.htm

[nutsy54]

Wow, that campaign site really is a pathetic laughingstock of tall tales... Did anyone check out the "What it can do for the deficit" link?
http://www.barackobama.com/buffett-r...can-do/deficit

"Part of President Obama's plan to cut the deficit by $4 Trillion! "

... by funding the government for 12 hours each year, representing 1.25% of that decade-long deficit projection, or a mere 1% of the new debt added under just three years of his administration. (Oops, they didn't put that part in the web site).

[saloman]

And what, exactly, is the tax rate paid by the "400 richest people in the country"...?

We can see that the top 0.1% (138,000 taxpayers) receive 7.8% of all income... yet pay 17% of all income taxes. Is that "fair"?
http://www.taxfoundation.org/news/show/250.html (Tables 2, 3, and 4)

According to the site, 18.1% was the average paid among the top 400. According to the data I posted yesterday, the top 400 earned more than the bottom 50% of the entire country. Thanks for contrasting that with the 17% tax burden.

[amtharin]

Wow, that campaign site really is a pathetic laughingstock of tall tales... Did anyone check out the "What it can do for the deficit" link?
http://www.barackobama.com/buffett-r...can-do/deficit

"Part of President Obama's plan to cut the deficit by $4 Trillion! "

... by funding the government for 12 hours each year, representing 1.25% of that decade-long deficit projection, or a mere 1% of the new debt added under just three years of his administration. (Oops, they didn't put that part in the web site).

Considering that in public they claim that it would have piratically no affect on the deficit, how do they go and put that on the website.

I also like this quote... "The Buffett Rule would create up to $32 MILLION in tax revenue from just one millionaire."

Well what if that millionaire only had 5 million??

[saloman]

Wow, that campaign site really is a pathetic laughingstock of tall tales... Did anyone check out the "What it can do for the deficit" link?
http://www.barackobama.com/buffett-r...can-do/deficit

"When millionaires get tax breaks they don't need and the country can't afford, it either adds to the deficit or somebody else has to make up the difference—like a senior citizen on a fixed income; or a student trying to get through school; or a family trying to make ends meet. That's not right. I believe this is the best way to pay for the investments we need to grow our economy and strengthen the middle class."

Yea that is hilarious. Screw the middle class, right Nutsy? Be sure to keep fighting the good fight for millionaire tax breaks they don't need and we as a country cannot afford. Dont worry, our kids will pay for it.

[nutsy54]

According to the site, 18.1% was the average paid among the top 400. According to the data I posted yesterday, the top 400 earned more than the bottom 50% of the entire country. Thanks for contrasting that with the 17% tax burden.

Wait, you mean the 1.85% effective tax "burden" that the "bottom 50%" actually pays...?

Yes, paying at 1/10th the rate of those evil rich folks must be a real "burden".

[amtharin]

"When millionaires get tax breaks they don't need and the country can't afford, it either adds to the deficit or somebody else has to make up the difference—like a senior citizen on a fixed income; or a student trying to get through school; or a family trying to make ends meet. That's not right. I believe this is the best way to pay for the investments we need to grow our economy and strengthen the middle class."

Yea that is hilarious. Screw the middle class, right Nutsy? Be sure to keep fighting the good fight for millionaire tax breaks they don't need and we as a country cannot afford. Dont worry, our kids will pay for it.

No one has to make up for anything. That is baseless rhetoric. It is simply impossible for us to pay for what we are spending so the idea that someone has to "make up" for what someone else does not pay is absurd.

[Tekkendo]

They are incomplete and misleading at best.

well... that's the name of the game, brah.. Using half truth to lie and spin.... When Obama's record is a big fuking F, you got to floor it on the spin machine.

[saloman]

Wait, you mean the 1.85% effective tax "burden" that the "bottom 50%" actually pays...?

Yes, paying at 1/10th the rate of those evil rich folks must be a real "burden".

Does that only describe federal taxes, Nutsy? Are you ignoring state, local, and social security, medicaid, etc ... to make the number look more grotesque?

[Bnk]

"When millionaires get tax breaks they don't need and the country can't afford, it either adds to the deficit or somebody else has to make up the difference—like a senior citizen on a fixed income; or a student trying to get through school; or a family trying to make ends meet. That's not right. I believe this is the best way to pay for the investments we need to grow our economy and strengthen the middle class."

Yea that is hilarious. Screw the middle class, right Nutsy? Be sure to keep fighting the good fight for millionaire tax breaks they don't need and we as a country cannot afford. Dont worry, our kids will pay for it.

What are these tax breaks you reference?

[ToPHeR35]

"When millionaires get tax breaks they don't need and the country can't afford, it either adds to the deficit or somebody else has to make up the difference—like a senior citizen on a fixed income; or a student trying to get through school; or a family trying to make ends meet. That's not right. I believe this is the best way to pay for the investments we need to grow our economy and strengthen the middle class."

Yea that is hilarious. Screw the middle class, right Nutsy? Be sure to keep fighting the good fight for millionaire tax breaks they don't need and we as a country cannot afford. Dont worry, our kids will pay for it.

How can getting a tax break ADD to the deficit? LOL

Typical government accounting spending money they don't have....

[saloman]

What are these tax breaks you reference?

That is actually a quote from President Obama. Are you under the impression there are no tax breaks leading to the super-rich paying a smaller tax percentage than me, or are you attempting to lay down bait?

[saloman]

How can getting a tax break ADD to the deficit? LOL

Typical government accounting spending money they don't have....

Someone doesn't know what a deficit is... I'll give you a hint. Taxes are revenue for the government. Now you try to figure out the rest.

[amtharin]

According to the site, 18.1% was the average paid among the top 400. According to the data I posted yesterday, the top 400 earned more than the bottom 50% of the entire country. Thanks for contrasting that with the 17% tax burden.

I dont believe this is true

[nutsy54]

"When millionaires get tax breaks they don't need and the country can't afford, it either adds to the deficit or somebody else has to make up the difference—like a senior citizen on a fixed income; or a student trying to get through school; or a family trying to make ends meet. That's not right. I believe this is the best way to pay for the investments we need to grow our economy and strengthen the middle class."

Yea that is hilarious. Screw the middle class, right Nutsy? Be sure to keep fighting the good fight for millionaire tax breaks they don't need and we as a country cannot afford. Dont worry, our kids will pay for it.

So, instead of discussing facts and numbers, you rant off into an emotional tirade while putting false words in my mouth...

Why is a "deduction" for one man declared a "tax break" or "loophole" for another?
Why does Barack Obama, namesake of the site you linked, believe those "tax breaks" should still apply to him, but not the other rich guys who make just a little bit more?
Why can't anyone in Washington comprehend that maybe instead of the Class Warfare games and pathetic $5 Billion per year revenue this Rule would generate, they should actually do what they told us they would do years ago: CUT THE MASSIVE SPENDING!

Do you realize how absurd it is to claim that $5 Billion, or 0.13% of this year's Federal budget, is the difference between senior citizens, students, and families making it through life?

[ToPHeR35]

Someone doesn't know what a deficit is... I'll give you a hint. Taxes are revenue for the government. Now you try to figure out the rest.

Right, so the government is spending MORE than it is taking in....so obviously the problem must be with taxes right?