What if Obama refused to release his tax returns?

It is also capital gains and not direct income, remember the capital gains taxes are lower because the money deployed was taxed.

 

If the discussion is centered on his federal income tax rate, as this one has been, it just seems dishonest to include payroll taxes in this equation.

The payroll taxes are tied to a specific benefit that phases out, and therefore the taxes phase out at the appropriate level. If we want to talk about aggregate taxes why are we only adding in payroll? Why aren't we adding in property taxes, state and local taxes, sales taxes, gas taxes, excise taxes, suta, futa, and on and on.

 

It doesn't matter. 14.1% is too low for someone who makes 14 million a year. I also agree with Cajun Sensation that if he is willing to show us the return where he only paid 14%, what rate did he pay on all those years he refuses to show us. Or, as he wife Anne likes to call us, "You people...."

It also doesn't matter that it was capital gains. The rate is too low and it needs to be raised. capital gains should be at 25% rather than 15% and the top marginal rate should be around 40%. middle class cannot stomach a tax increase right now but as soon as the economy is up and running and we've reached a decent unemployment number taxes should go up on the middle class also....not much but some.

 

You have no basis for this. I think 14% is much too high. I think the top marginal rate should be 25%. My opinion is every bit as without basis as yours. Until Congress goes line by line through the budget abd really makes deep spending cuts, which include entitlement reform, I don't know how you can know what tax rate is appropriate.

 

Let me see NC...did Mitt write and pass the law about capital gains? I don't remember that . Didn't that change under Clinton? If not it was before he had any voice in it. DId anyone have a problem with John Kerry's money which he gained by marrying it (John Heinz's widow) and it was capital gains?

Why are you libs hammering him for following the law? As Dan Rather said when he was chastized for not paying more when he advocated for higher rates "I pay according to the law change the law and I will pay more. " or words to that effect.

Finally combine his charitable contributions and he paid 29% of his income to others far mor that BHO or ole Joe Biden ($329). I think he should be commended for that.

As RED says that is a Straw man.

If you don't like it CHANGE THE LAW!!!

 

he gave 4 million to charity and paid 2 million in taxes.

that sonofabitch!!

 

never paid less than 13.6% according to Price Waterhouse Cooper

 

Yeah, I don't think PWC is going to misrepresent in this situation though. As much as liberals like to lead you to believe it, it's very difficult for millionaires to pay no tax, and if they do, it's because they are invested in tons of muni bonds and they give a lot to charity.

 

PwC is the best accounting firm in the world, and the only one of the big 4 firms not to get slammed on some type of tax shit in recent years. If they said it, it is golden. I mean those dudes count Oscar ballots.