Romney stands by message in secret video

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JustNotSure said:
Lisa, I don’t have any clients who qualify for EIC. But this is way off point.
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As I recall you brought this up as to people cheating on their taxes. Christine and I were responding to the points you raised.

Although I have no clients who receive the EIC, as a volunteer I encountered a number of people who were eligible so I do have some experience on claiming the credit.

Getting back to the thread…since you think Romney’s tax rate is “unfair” what about people getting tax refunds even if they didn’t pay any taxes? Do you believe in double taxation? That seems to be the Obama philosophy as he wants the Bush tax cuts to expire thus exploding the rate on investment income. Given that one of his bragging points is the market, you’d think he would want stability through a consistent tax policy.

Lisa
 
JustNotSure said:
By not taking investment management fees and converting them to equity interest, thereby getting capitol gain treatment and taxed at a much lower rate. It is a questionable tax maneuver that probably cannot be defended before the IRS.
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You have evidence that Romney did this?
 
JustNotSure said:
By not taking investment management fees and converting them to equity interest, thereby getting capitol gain treatment and taxed at a much lower rate. It is a questionable tax maneuver that probably cannot be defended before the IRS.
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Oh heavens, please let the IRS know then! You might get a huge reward by telling them Romney is cheating on his taxes.

Lisa
 
"I loved Michelle Obama’s line in her speech: ‘A presidency reveals who you are.’ So do campaigns. And mark me down as one Republican not happy with what is being revealed about Mitt Romney.

–Mark McKinnon, Republican strategist and Bush campaign aide.
 
qui_est_ce said:
I always get the “agree to disagree” from my liberal relatives when have no interest in debating issues with people who disagree with them.

I raised my children to fairly debate with those who disagree. That’s how you learn.

I let my daughter put an Obama sign on our lawn next to my McCain sign in 2008. My liberal neighbor didn’t understand how I could have two disagreeing signs, then remarked, “If she wants a fair debate, she can come to our house.” DD was quite offended that I was not considered a fair debater by this person.
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I can’t help but wonder how many different signs may be posted on the lawn of the home of Mary Matalin and James Carville?
 
Critical audio gap in “complete” Romney tape released by Mother Jones (Update – Corn responds, 1-2 minutes missing)

legalinsurrection.com/2012/09/critical-audio-gap-in-complete-romney-tape-released-by-mother-jones

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CNBC And Yahoo Finance Readers really liked Mitt Romney’s Comments

businessinsider.com/cnbc-and-yahoo-finance-readers-really-liked-mitt-romneys-comments-2012-9

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Ann Romney: I know Mitt and he definitely wasn’t showing disdain for the poor

therightscoop.com/ann-romney-i-know-mitt-and-he-definitely-wasnt-showing-disdain-for-the-poor

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If the tape doesn’t knock Romney out, the media narrative is toast

legalinsurrection.com/2012/09/if-the-tape-doesnt-knock-romney-out-the-media-narrative-is-toast

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Santelli On Romney Tape: “We Have A Dependency Society,” The “Media Overblows Everything”

realclearpolitics.com/video/2012/09/18/santelli_on_romney_tape_we_have_a_dependency_society_the_media_overblows_everything.html

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Voters, like Romney, want smaller government

washingtonpost.com/blogs/right-turn/post/voters-like-romney-want-smaller-government/2012/09/18/09959b6e-01a9-11e2-b257-e1c2b3548a4a_blog.html
 
JustNotSure said:
By not taking investment management fees and converting them to equity interest, thereby getting capitol gain treatment and taxed at a much lower rate. It is a questionable tax maneuver that probably cannot be defended before the IRS.
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Wow.

Not even the Romney-bots at the NYT [/sarcasm] are making that claim:
There is no evidence that Mr. Romney has violated the law. The principal means he used to pay low taxes on his hundreds of millions of dollars in income was the technique known as carried interest, which allows managers of private equity funds to treat most of the fees they receive for running the funds as capital gains rather than ordinary income.
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The technique strikes some — including President Obama — as outrageous, but it is legal under current law. Unless and until the Congress changes the law, Mr. Romney has every right to take advantage of the technique.
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nytimes.com/2012/09/14/business/a-private-equity-tax-tactic-may-not-be-legal-high-low-finance.html?pagewanted=all&_moc.semityn.www
 
meltzerboy said:
I can’t help but wonder how many different signs may be posted on the lawn of the home of Mary Matalin and James Carville?
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I saw a car the other day on my way to Church that had both an 08 Obama and McCain sticker.

It happens.
 
LisaA said:
Oh heavens, please let the IRS know then! You might get a huge reward by telling them Romney is cheating on his taxes.

Lisa
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There’s no evidence of that whatsoever.

BTW, do folks on here know that both Bill Clinton and Barack Obama have holdings in the Caymans?
 
Jeanne_S said:
:thumbsup:Absolutley,as opposed to Obama and his response to the Embassy attack last week.Nothing but a cursory response,then off to do more campaigning:mad:
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How are Romney’s action and Obama’s action related? Did Romney save the girl at some embassy being stormed by some mob? :confused:
 
Poll: A partisan divide on Romney’s ‘47%’ video
The secretly recorded video of Mitt Romney dissecting the American electorate at a high-priced fundraiser bolsters him among Republicans but makes almost a third of independents less likely to vote for him, a usa today/gallup poll finds.
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The survey, taken Tuesday, finds just over half of independents say the video won’t make a difference in their vote. Those who say it will have an effect by 2-1, 29%-15%, say it makes them less likely rather than more likely to support the GOP presidential nominee.
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Predictably, two-thirds of Democrats say the video makes them less likely to support Romney – very few Democrats are on his side in any case – while 44% of Republicans say it makes them more likely to back him.
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In the video, recorded in May, Romney described 47% of the electorate as dependent on the government and out of reach for his campaign. Since it was posted online Monday by Mother Jones magazine, he has characterized his remarks as part of an important debate on the proper role and size of government. Obama campaign officials and other Democrats call them callous and shocking.
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“The polling impact is probably going to be negligible because the number of unmade-up minds is relatively small,” says Richard Eichenberg, a political scientist at Tufts University. “But it is a close election, and in a close election every percentage counts.”
He says the controversy – and the need for Romney’s campaign to deal with it – has other potential repercussions. “In terms of the larger campaign impact, every day Romney is off message is a bad day for Romney.”
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The poll of 885 registered voters has a margin of error of +/-4 percentage points.
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usatoday.com/news/politics/story/2012/09/19/poll-29-of-independents-say-romneys-fundraiser-video-makes-them-less-likely-to-back-him/57807152/1

53% of independents say Romney’s comment makes no difference and this was a poll on registered not likely voters

Interested too see if a poll is done on Obama’s redistribution comments
 
JustNotSure said:
Have read numerous articles on the subject and read opinions of tax professors. I agree with what I read, it is my opinion, not blowing the whistle on anyone,
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An effective tax rate of 13% is about double what most taxpayer pay If you include the 47% who pay no income tax it is about 4 times what the average taxpayer pays. The problem is people to conflate their marginal rate with Romneys effective rate
 
scipio337 said:
Wow.

Not even the Romney-bots at the NYT [/sarcasm] are making that claim:

nytimes.com/2012/09/14/business/a-private-equity-tax-tactic-may-not-be-legal-high-low-finance.html?pagewanted=all&_moc.semityn.www
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FWIW this is how most “tax shelters” work. Either income is deferred and taxed later, for example 401k or IRAs or certain kinds of assets “convert” from ordinary income to capital gain treatment based on a holding period or other factors. Stocks for example get favorable treatment if held “long term” vs “short term.” The length of time has varied over time but this is not a new concept. Some income is never taxed (muni bond interest) but there is a public benefit as these bonds often fund large public projects.

There is nothing evil or unpatriotic about using the tax laws to your benefit. Most tax laws are written to provide some kind of economic or social result. The perceived benefit should be factored in when considering the total picture.

OTOH the media loves to hate on Romney for using legal means to reduce taxes but crickets chirped when it was pointed out that Theresa Heinz Kerry had a lot of untaxed income from muni bonds. A double standard…naw!

LIsa
 
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