reply to post by ModernAcademia
Supposedly it's because none of his income was earned. All of his income was profits from investments.
I fail to understand the logic behind giving someone who doesn't even work a tax break, but hey it is what it is.
Romney Reports Income From Funds at Goldman Sachs, page 2
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reply posted on 24-1-2012 @ 11:12 PM by YouAreLiedTo
I just wanted to post an update with a more recent article with some extra information in it:
Romney's Tax
Man, it must be nice...
If he made $20 Million in 2009 and paid $1.2 Million in taxes... that's only around 5% tax...
Romney's Tax
Mr. Romney’s 2010 returns also suggest he may have paid far less taxes the previous year. The 2010 return shows the family made estimated tax payments for 2009 of $1,369,095. To avoid penalties, estimated tax payments must be at least 110 percent of the taxes owed the prior year. Assuming that is what he paid, his federal tax bill for 2009 would have been $1,244,632, far less than in 2010. - NY Times
Man, it must be nice...
If he made $20 Million in 2009 and paid $1.2 Million in taxes... that's only around 5% tax...
reply posted on 25-1-2012 @ 07:38 AM by sd211212
reply to post by tsawyer2
your out of your mind. Add up all the tax they pay besides the income tax and you should see why they shouldnt have to pasy an income tax. Irv Homer was the best he explained how much of your money is taxed not the income tax. Dont believe the BS that comes from the talking heads that everybody should pay their fair share. Romney pays long term cap gains tax. He earned that money off the backs of hard working individuals trying to get ahead only to be taxed heavily so they cant accumulate the wealth to supply them with income from long term cap gains.
your out of your mind. Add up all the tax they pay besides the income tax and you should see why they shouldnt have to pasy an income tax. Irv Homer was the best he explained how much of your money is taxed not the income tax. Dont believe the BS that comes from the talking heads that everybody should pay their fair share. Romney pays long term cap gains tax. He earned that money off the backs of hard working individuals trying to get ahead only to be taxed heavily so they cant accumulate the wealth to supply them with income from long term cap gains.
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