BREAKING: Second source confirms Reid's allegations Romney paid no taxes for 10 year

[jms62]

Originally Posted by dellinger63

People saw him plenty at Harvard, he also got plenty of parking tickets he never paid until entering the Senate. That's what people who think they're above society do.

It's his days at Excellsior (sp) and Columbia that people don't know him. No pictures, no classes etc. Perhaps this is the reason he has refused to release his transcripts as using the 'Mitt theory' he must be hiding something.

If it's merely mediocre grades how in the heck did he get into Harvard? So that likely isn't what's being hid.

For the good of the American people I personally think Romney needs to release his taxes and Obama (the transperant) one needs to release his transcripts. Then let the voters decide.

BTW Does everyone know Jesse Jackson Sr. was KICKED out of the University of Illinois Urbana for cheating? God must have told him to do it.

Also we need to know how Romney can accumulate 100 Million in his IRA.

[geeker2]

Originally Posted by jms62

Also we need to know how Romney can accumulate 100 Million in his IRA.

Wonder why the IRS hasn't come forth and charged him ? He is obviously doing all these illegal activities and trying to hide them by not disclosing them to the public.

We should all be asking the IRS to come clean with the evidence and stop protecting Mitt.

[jms62]

Originally Posted by geeker2

Wonder why the IRS hasn't come forth and charged him ? He is obviously doing all these illegal activities and trying to hide them by not disclosing them to the public.

We should all be asking the IRS to come clean with the evidence and stop protecting Mitt.

Then he can shut this nonsense down in a second by coming clean and showing his taxes. He refuses so in the court of public opinion he comes across as hiding something.

[dellinger63]

Originally Posted by jms62

Then he can shut this nonsense down in a second by coming clean and showing his taxes. He refuses so in the court of public opinion he comes across as hiding something.

Substitute birth certificate/college transripts for taxes and go back 4 years.

Oh my!

[Clip-Clop]

Originally Posted by jms62

Then he can shut this nonsense down in a second by coming clean and showing his taxes. He refuses so in the court of public opinion he comes across as hiding something.

If his IRA, like mine, (redboard alert!!) had been very heavily invested in SIRI at .08/share and LULU at 28.50/share (pre-split) it could show that kind of growth.
We will never know what is actually in there though so speculation is pointless. Perhaps after Mitt loses Obama will create a Romney czar to see what he does to earn and how he spends all that money.

[Danzig]

how does anyone know what romney has in his ira?

[jms62]

Originally Posted by Danzig

how does anyone know what romney has in his ira?

Media Speculation just like everything else we are discussing without knowing the facts.

[Danzig]

Originally Posted by jms62

Media Speculation just like everything else we are discussing without knowing the facts.

gotcha.


you'd think the media would be better served just by reporting things that don't require speculation. how much money romney has means nothing to citizens in general, it doesn't have an affect on us. but his thoughts on taxes, spending, bank regulations are important. surely they could focus on that?


naaaa...we have a society that enjoys fluff, not serious stuff.

[Riot]

Originally Posted by Danzig

how does anyone know what romney has in his ira?

Because he released a partial one year of tax returns, 2010, that shows he has $100 million in an IRA. It's not speculation, it's on his income tax return for the one year he released.

Does anybody here actually read the news? C'mon, guys - we have Fodder Of Xenophobes to spread fake news, we don't need to do it here.

[geeker2]

Originally Posted by jms62

Then he can shut this nonsense down in a second by coming clean and showing his taxes. He refuses so in the court of public opinion he comes across as hiding something.

or it will just create a bunch more noise that deflects from the real issues.

Do we really need to talk about things like his wife's horse?

[Danzig]

Originally Posted by geeker2

or it will just create a bunch more noise that deflects from the real issues.

Do we really need to talk about things like his wife's horse?

well, of course. it's important!

far more important than boring discussions about the economy, jobs, etc etc

[Rudeboyelvis]

Originally Posted by Danzig

well, of course. it's important!

far more important than boring discussions about the economy, jobs, etc etc

Sorry Ziggy - there is nothing else to discuss - the economy and jobs are doing GREAT! Don't believe your own checkbook, or the decline in American savings, or the neighbors that have lost careers and have given up looking after 3 years

Riot has a ton charts that disprove reality convincingly!

[Riot]

Originally Posted by Rudeboyelvis

Sorry Ziggy - there is nothing else to discuss - the economy and jobs are doing GREAT! Don't believe your own checkbook, or the decline in American savings, or the neighbors that have lost careers and have given up looking after 3 years

Riot has a ton charts that disprove reality convincingly!

Exactly what we need, Rude, more shallow broad-brush painting, with less specificity and accuracy! Yay!

[jms62]

Originally Posted by Rudeboyelvis

Sorry Ziggy - there is nothing else to discuss - the economy and jobs are doing GREAT! Don't believe your own checkbook, or the decline in American savings, or the neighbors that have lost careers and have given up looking after 3 years

Riot has a ton charts that disprove reality convincingly!

You need to talk to del.. He personally has met over 100 people in the last couple years who came to this country with LESS than 30 bucks in their pockets and are now pulling in over a million a year.

[dellinger63]

Originally Posted by jms62

Also we need to know how Romney can accumulate 100 Million in his IRA.

Certainly if Romney is breaking any Federal Tax Laws he should be prosecuted to the full extent. If not then the tax code needs to be changed.

IRA-401K's etc. were all designed to promote tax free savings. If true, Mitt has taken it to a whole new level. While I don't think investment income should be taxed at the same rate income is, it shouldn't be tax free.

Look America has also purported itself as fair, where everyone is equal. Decide on a percentage and instill a flat tax with personal contributions to IRA/401K's capped at say $10K. No deductions. Married or not moot, investment income or not moot.

At a 20% flat tax with a contribution of 10% of salary allocated into a IRA/401K. The following scenarios would pan out:

Individual A: $22K in income 7K individual deduction (I think should be lower)
and $2.2K put into an IRA leaves a taxable income of $12.8K. At 20% individual A would pay $1,560 in taxes. An effective rate of 7%.

Individual B: $50K in income, putting away $5K, leaves a taxable income of $38K. At 20% they would pay $7,600. An effective rate of 15.2%

Mitt: 200 million in income putting away the max $10K and the $7K individual deduction leaves him with $199,983,000 in taxable income and a $39,966,000 tax bill. An effective tax rate of 20%.

Mitt's payment would equal 27,000 individual A's and 5,000 individual B's.

Besides we could get rid of more than half the IRS and free up Federal courts for useful cases, like suing the States of Arizona and Florida.

[Danzig]

Originally Posted by dellinger63

Certainly if Romney is breaking any Federal Tax Laws he should be prosecuted to the full extent. If not then the tax code needs to be changed.

IRA-401K's etc. were all designed to promote tax free savings. If true, Mitt has taken it to a whole new level. While I don't think investment income should be taxed at the same rate income is, it shouldn't be tax free.

Look America has also purported itself as fair, where everyone is equal. Decide on a percentage and instill a flat tax with personal contributions to IRA/401K's capped at say $10K. No deductions. Married or not moot, investment income or not moot.

At a 20% flat tax with a contribution of 10% of salary allowed into a IRA/401K. The following scenarios would pan out:

Individual A: $22K in income 7K individual deduction (I think should be lower)
and $2.2K put into an IRA leaves a taxable income of $12.8K. At 20% individual A would pay $1,560 in taxes. An effective rate of 7%.

Individual B: $50K in income, putting away $5K, leaves a taxable income of $38K. At 20% they would pay $7,600. An effective rate of 15.2%

Mitt: 200 million in income putting away the max $10K and the $7K individual deduction leaves him with $199,983,000 in taxable income and a $39,966,000. An effective tax rate of 20%.

Mitt's payment would equal 27,000 individual A's and 5,000 individual B's.

Besides we could get rid of more than half the IRS and free up Federal courts for useful cases, like suing the States of Arizona and Florida.

401k's aren't tax free, they're tax deferred. ira's can be done either with after tax dollars, or tax deferred. but none of them are tax free.
and a flat tax would be a huge whammy on the lower income folks, and a huge break for upper income.

[jms62]

Originally Posted by dellinger63

Certainly if Romney is breaking any Federal Tax Laws he should be prosecuted to the full extent. If not then the tax code needs to be changed.

IRA-401K's etc. were all designed to promote tax free savings. If true, Mitt has taken it to a whole new level. While I don't think investment income should be taxed at the same rate income is, it shouldn't be tax free.

Look America has also purported itself as fair, where everyone is equal. Decide on a percentage and instill a flat tax with personal contributions to IRA/401K's capped at say $10K. No deductions. Married or not moot, investment income or not moot.

At a 20% flat tax with a contribution of 10% of salary allocated into a IRA/401K. The following scenarios would pan out:

Individual A: $22K in income 7K individual deduction (I think should be lower)
and $2.2K put into an IRA leaves a taxable income of $12.8K. At 20% individual A would pay $1,560 in taxes. An effective rate of 7%.

Individual B: $50K in income, putting away $5K, leaves a taxable income of $38K. At 20% they would pay $7,600. An effective rate of 15.2%

Mitt: 200 million in income putting away the max $10K and the $7K individual deduction leaves him with $199,983,000 in taxable income and a $39,966,000. An effective tax rate of 20%.

Mitt's payment would equal 27,000 individual A's and 5,000 individual B's.

Besides we could get rid of more than half the IRS and free up Federal courts for useful cases, like suing the States of Arizona and Florida.

You used a lot of words to not answer the question How the **** does someone's IRA account get to 100 Million dollars given the limits currently set in place? Hey I want to know.

[dellinger63]

Originally Posted by jms62

You used a lot of words to not answer the question How the **** does someone's IRA account get to 100 Million dollars given the limits currently set in place? Hey I want to know.

I'm going to go out on a limb and predict Romney doesn't have close to a hundred million in a IRA.