Another payday. Another realization that I’m paying a higher tax rate than the Republican nominee for president.
Actually, you both paid exactly the same rate on your paycheck from work. And on any capital gains earnings you might have had.
I am not an accountant. But I’m pretty sure these statements aren’t true. I paid over 23% of my income in taxes this paycheck. That’s not what Mittens tells us he paid. My overall tax rate last year was about 28% or so according to our accountant. Again that’s more than double what Willard paid.
It’s sick. Willard wants to run America. He just doesn’t want to actually pay for his fair share of America. We don’t need President Swiss Bank Account.
magellan’s point is that you’re making your money via income while Romney makes his via capital gains. Income and capital gains are taxed at different rates.
It’s crap, of course. The fact is it’s personal wealth. Why should Romney or any sufficiently rich person get to use a lower rate for their personal wealth than middle-class schlubs? Especially when we have to earn ours through 40 hours a week, whereas capital gains are earned without personal effort.
It’s a broken system and Romney wants to break it further.
Never saw it. But it’s a moot point, since Ryan’s tax proposals will be dumped.
Most of the time, I’m the only adult in the conversation.
Ah. Thanks for the clarification. That makes me even madder because we actually have a nice chunk of income this month from dividends on our stocks. But good investing is only about half as hard as my freelancing career or my husband’s job. If I were going to pick one for the lower rate it would be the paycheck rather than the Apple dividend check.
…too easy.
Yeah, it was. And sadly, my statement was too true.
I got to thinking about this later. You said:
I’ll call bullshit on that.
Romney would obviously be in the higher bracket. So, doing some simple math, we get
10% of 70700 = $7,070
25% of (21600000-70700) = $5,382,325
Sum of the above = $5,389,395
Where did you come up with your figures?
Are you serious? You still don’t know the difference between earned income and investment income (commonly called unearned income)? How are you even in this discussion?
Ryan’s plan called for an elimination of the capital gains tax entirely, which wipes out almost of Romney’s taxable income. Only his earned income would be taxed, and it would be taxed at lower rates than today.
If anything, it’s a positive sentiment. “Fuck yourself, with great gusto!”. Then again, it could imply that one wishes the target of the riposte to have an increased risk of prostate cancer if they’re 20-30.