Mitt Romney releases tax returns: Candidate earned $21.7M in 2010 and $20.9M in 2011

[웃 910]

So you didn't pay them anything?

They took small amounts of money out of each of my paychecks. And I never calculated it at the end. But they gave me back about $1400 or so.

Why take it out in the first place if you are going to give it back? Take it out and keep it because we need to face this debt crisis before we start paying $500 billion a year on interest in the debt which is around the corner.

[slim 1,530]

I'm not a fan of Romney in the least, but the fact that he pays a lower tax rate than most Americans has nothing to do with loopholes, and it most certainly isn't his fault. Being that the vast majority of his income comes from capital gains and investment, the following applies:

He pays several MILLION DOLLARS more than most Americans yet, somehow, he still doesn't pay enough.

They took small amounts of money out of each of my paychecks. And I never calculated it at the end. But they gave me back about $1400 or so.

They didn't keep any? You're making it sound as if they paid you back more than you gave them in the first place.

Why take it out in the first place if you are going to give it back? Take it out and keep it because we need to face this debt crisis before we start paying $500 billion a year on interest in the debt which is around the corner.

The first reason is most Americans are averse to paying money to the government and they wouldn't do it in a lump sum. Can you imagine if every January 1st the government sent you a bill for $5,000? How about $30,000? Or, if you're like Mitt Romney, $3,000,000? There's no way our government could run out of control if people actually got a bill for it. They'd take the government to task after the first bill.

A couple bucks a week and they barely notice. Plus, they get that "big" check back every year. Party time! Simply put, we're too stupid to add up how much we really pay each year.

Secondly, the government wouldn't be able to employ an additional 100,000+ employees through the IRS. "That's 100,000 jobs you want to cut? Do you like putting people out of work?"

[Mr. Big Dog 10,747]

Simply put, we're too stupid to add up how much we really pay each year.

It's called a tax return. File one and you know how much you pay each year.

[Hilarious Clinton 452]

It's called a tax return. File one and you know how much you pay each year.

plus excise tax, sales tax, property tax, state tax, county tax, tolls, gasoline tax............................................... ad infinitum.

[Mr. Big Dog 10,747]

plus excise tax, sales tax, property tax, state tax, county tax, tolls, gasoline tax............................................... ad infinitum.

Yes, but none of these were subject of the debate here. If we pull those into the calculus, Mitt's effective tax rate might indeed fall well below that of the average American.

[mawilson 2,133]

I'm not a fan of Romney in the least, but the fact that he pays a lower tax rate than most Americans

It's not a fact, it's a falsehood. The average tax rate for American taxpayers is only 11%. Mitt paid 14%.

[Gary and Alla 3,694]

I lied. The government paid me back over $1000

It's an automatic thing. I would care less if they didn't send me the check (although it was nice). But we have a major debt crisis and our deficits would be greatly improved if they removed such policies. We are probably talking about $100s of billions of dollars that could be used to try to balance the budget. Tens of millions of Americans are getting by just fine 364 days of the year, how come we need that 1 day where the government pays us a tax refund?

Combine it with a couple hundred billion in cuts in overseas welfare, a little welfare adjustment here, and increasing retirement ages and we would probably have a balanced budget, maybe even a surplus.

Our debt is so large we are paying about a quarter TRILLION dollars a year ($227 billion) in interest payments. That doesn't seem sustainable. We need to start paying down the debt ASAP.

When we have $15 trillion in debt and are running +1 trillion deficits each year we have a major setup for disaster on the horizon. It takes tax increases and spending cuts. Both together, not just one...

So now you favor the FAIR TAX. Good for you.

[Gary and Alla 3,694]

It's not a fact, it's a falsehood. The average tax rate for American taxpayers is only 11%. Mitt paid 14%.

True.

We could not possibly be more "average" in our income and we will pay -0- tax this year, last year, the year before...We ARE the 47%!!!!!!

With two kids, college credit, child credits, mortgage deductions we are not even close to having to pay the first $1 in income tax. Our tax return will easily cover four round trip tickets to Ukraine and our entire summer vacation, this year with visa free stops in Germany and Italy with Alla's new US passport.

I sometimes wonder why I even support the FAIR TAX.

[Gary and Alla 3,694]

So you didn't pay them anything?

Getting a return does not mean you paid -0-, it means you overpaid. Heck, even Romney may have received a tax return but still paid 15%

I, on the other hand, paid-0-. Got it all back.

[Leatherneck 693]

Libs have their panties in a knot about how much money Romney makes, yet John Kerry was worth well over 200 mil when he was running and his wife was worth several hundred mil...not one word about his tax rate. Hypocrites are they?

[Gary and Alla 3,694]

What did YOU pay last year?

-0- income tax.

If someone does not like that, then support the FAIR TAX. Following the LAW, 47% of Americans pay NO income tax. So much for all of us paying a "fair share" and Obama has insisted on reducing my SS tax by 1/3 for the last two years also and that and medicare is the only Federal tax I pay based on my income.

[Mr. Big Dog 10,747]

Libs have their panties in a knot about how much money Romney makes, yet John Kerry was worth well over 200 mil when he was running and his wife was worth several hundred mil...not one word about his tax rate. Hypocrites are they?

Kerry's tax returns were examined. On his own, Kerry paid a tax rate of 23%, combined with his wife, it was 13%. The effective tax rates for these two families are very similar - not surprising since the way they derive the bulk of their income is. The difference between the two is that Kerry - like the vast majority of Americans - supports what's come to be known as "the Buffet rule" while Romney does not.

[slim 1,530]

What's really funny is all these "the rich should pay more taxes" folks are the same ones who say the rich shouldn't make 300 times what they do, that incomes should be "fair."

If that's the case... why shouldn't taxes be fair too?

[Gary and Alla 3,694]

What's really funny is all these "the rich should pay more taxes" folks are the same ones who say the rich shouldn't make 300 times what they do, that incomes should be "fair."

If that's the case... why shouldn't taxes be fair too?

Exactly. They want the rich to pay for everything but hate the rich.

FAIR TAX!

[Leatherneck 693]

Kerry's tax returns were examined. On his own, Kerry paid a tax rate of 23%, combined with his wife, it was 13%. The effective tax rates for these two families are very similar - not surprising since the way they derive the bulk of their income is. The difference between the two is that Kerry - like the vast majority of Americans - supports what's come to be known as "the Buffet rule" while Romney does not.

Why should Romney support such nonsense? Just another "feel-good" attempt by liberals

at the silly notion of equality. Which is nothing more than a punish those that make more and

punish success.