Romney admits his tax rate is close to 15% (user search)
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  Romney admits his tax rate is close to 15% (search mode)
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Poll
Question: Should unearned income be taxed at the same rates as earned income?
#1
Yes
 
#2
No
 
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Partisan results

Total Voters: 35

Author Topic: Romney admits his tax rate is close to 15%  (Read 5762 times)
○∙◄☻¥tπ[╪AV┼cVê└
jfern
Atlas Institution
*****
Posts: 53,879


Political Matrix
E: -7.38, S: -8.36

« on: January 18, 2012, 02:15:13 AM »
« edited: January 18, 2012, 02:17:12 AM by ○∙◄☻¥tπ[╪AV┼cVê└ »

In the 1970s, they weren't taxed the same. Unearned was taxed at a maximum of 70%, while earned income was a maximum of 50%. Earned income also has Social Security and payroll taxes, so it's ridiculously unfair to tax unearned at a lower income tax rate. If you're upper middle class, you can easily pay more than 15% in federal income taxes alone. It's outrageous that capital gains are taxed less.
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○∙◄☻¥tπ[╪AV┼cVê└
jfern
Atlas Institution
*****
Posts: 53,879


Political Matrix
E: -7.38, S: -8.36

« Reply #1 on: January 18, 2012, 02:18:12 AM »

Of course, income from investments is hardly "unearned."

Oh yeah, having lots of investments because your daddy was a ruthless businessman is sure earning that money.
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○∙◄☻¥tπ[╪AV┼cVê└
jfern
Atlas Institution
*****
Posts: 53,879


Political Matrix
E: -7.38, S: -8.36

« Reply #2 on: January 18, 2012, 02:40:15 AM »


So you switch things up to disproportionately impact the poor?!
I really don't understand the arguments for VAT/Flat/Fair tax structures, they would basically entrench current class structures and encourage the rich to invest rather than innovate.


Didn't you just answer your own question there?
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○∙◄☻¥tπ[╪AV┼cVê└
jfern
Atlas Institution
*****
Posts: 53,879


Political Matrix
E: -7.38, S: -8.36

« Reply #3 on: January 18, 2012, 02:48:18 AM »

People should be allowed to keep their wealth, if they busted their ass to earn it so be it.

Oh yeah, the 4th-7th richest Americans as shown on this list truly busted their ass to earn their money.
http://www.forbes.com/lists/2008/54/400list08_The-400-Richest-Americans_Rank.html
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