Paul Ryan's tax plan would lower his (and Mitt Romney's) taxes - Page 2
+ Reply to Thread
Page 2 of 4 FirstFirst 1234 LastLast
Results 11 to 20 of 32
Like Tree3Likes

Thread: Paul Ryan's tax plan would lower his (and Mitt Romney's) taxes

  1. #11
    Posting Addict GloriaInTX's Avatar
    Join Date
    Jul 2008
    Location
    Dallas, TX
    Posts
    7,597

    Default

    Quote Originally Posted by Alissa_Sal View Post
    It doesn't mention that has changed since 2010. I'm just trying to understand, but I think the deal is that since the rich often make a ton of money through investments, if they were taxed a flat rate of 25% not including capital gains and the like, and we were taxed a flat rate of 10% but get rid of the deductions we usually get to claim, the rich would save tons, and we would pay more, which is also the only way to make this plan revenue neutral (which Ryan says it is.)
    There are many reasons that Capital Gains taxes are treated differently than income taxes. They way it is now they are actually taxed twice.

    Another strange feature of the tax is that individuals are permitted to deduct only a portion of the capital losses they incur, whereas they must pay taxes on all of the gains. When taxpayers undertake risky investments, the government taxes fully any gain they realize if the investment has a positive return. But the government allows only partial tax deduction (of up to three thousand dollars per year) if the venture results in a loss. That introduces a bias in the tax code against risk-taking.5

    One other peculiar aspect of the capital gains tax has made many economists conclude that it is economically inefficient: it is a form of double taxation on capital formation. Economists Victor Canto and Harvey Hirschorn explained:

    A government can choose to tax either the value of an asset or its yield, but it should not tax both. Capital gains are literally the appreciation in the value of an existing asset. Any appreciation reflects merely an increase in the after-tax rate of return on the asset. The taxes implicit in the asset’s after-tax earnings are already fully reflected in the asset’s price or change in price. Any additional tax is strictly double taxation.6

    Take, for example, the capital gains tax paid on a pharmaceutical stock. The value of that stock equals the discounted present value of all of the company’s future proceeds. If the company is expected to earn $100,000 a year for the next twenty years, the sales price of the stock will reflect those returns. The “gain” the seller realizes from the sale of the stock will reflect those future returns, and thus the seller will pay capital gains tax on the future stream of income. But the company’s future $100,000 annual returns will also be taxed when they are earned. So the $100,000 in profits is taxed twice—when the owners sell their shares of stock and when the company actually earns the income. That is why many tax analysts argue that the most equitable rate of tax on capital gains is zero.
    Capital Gains Taxes: The Concise Encyclopedia of Economics | Library of Economics and Liberty
    Mom to Lee, Jake, Brandon, Rocco
    Stepmom to Ryan, Regan, Braden, Baley
    Granddaughters Kylie 10/18/2010 & Aleya 4/22/2013


    I never consider a difference of opinion in politics, in religion, in philosopy, as a cause for withdrawing from a friend. --Thomas Jefferson

  2. #12
    Posting Addict ClairesMommy's Avatar
    Join Date
    Aug 2006
    Location
    Canada
    Posts
    12,517

    Default

    Hey Canadian girls....Is anyone fearful of what may happen if/when Harper and this twit Romney have a tete-a-tete? Good grief. I'll be moving to Australia and watching North America implode from a distance.

    Sorry US girls. I had to say something. I don't know much about your VP candidates' platforms. Romney does hit our news headlines every so often. Usually when he's gone and said something really stupid.

  3. #13
    Posting Addict GloriaInTX's Avatar
    Join Date
    Jul 2008
    Location
    Dallas, TX
    Posts
    7,597

    Default

    Quote Originally Posted by Claire'sMommy View Post
    Hey Canadian girls....Is anyone fearful of what may happen if/when Harper and this twit Romney have a tete-a-tete? Good grief. I'll be moving to Australia and watching North America implode from a distance.

    Sorry US girls. I had to say something. I don't know much about your VP candidates' platforms. Romney does hit our news headlines every so often. Usually when he's gone and said something really stupid.
    Like this:

    At a campaign rally in Danville, Va., Biden quoted Romney as saying that "in the first hundred days he's going to let the big banks once again write their own rules -- unchain Wall Street.

    "They're going to put y'all back in chains," Biden added, presumably referring to Romney and new running mate Paul Ryan.
    Oops oh right, that was Biden.
    Mom to Lee, Jake, Brandon, Rocco
    Stepmom to Ryan, Regan, Braden, Baley
    Granddaughters Kylie 10/18/2010 & Aleya 4/22/2013


    I never consider a difference of opinion in politics, in religion, in philosopy, as a cause for withdrawing from a friend. --Thomas Jefferson

  4. #14
    Posting Addict ClairesMommy's Avatar
    Join Date
    Aug 2006
    Location
    Canada
    Posts
    12,517

    Default

    Quote Originally Posted by GloriaInTX View Post
    Like this:



    Oops oh right, that was Biden.
    Are you saying Biden's an idiot too? Wow. I'd hate to make that choice on election day.

  5. #15
    Posting Addict
    Join Date
    Apr 2003
    Posts
    7,261

    Default

    Quote Originally Posted by GloriaInTX View Post
    Like this:

    At a campaign rally in Danville, Va., Biden quoted Romney as saying that Romney says "he wants to unchain the banks during his first 100 days in office

    "They're going to put y'all back in chains," Biden added, presumably referring to Romney and new running mate Paul Ryan.
    Oops oh right, that was Biden.
    I'm not defending Biden as a politician but as a person. This is not the first time people take offense to something that was misunderstood and not meant to be offensive at all.

    John Kerry, John McCain, Michele Bachmann, and Mitt Romney have used the term "tar baby" to describe a sticky situation. I assume none of them intended it to be offensive.

    The phrase "pot calling the kettle black" has been taken as offense. Believe or not, "black-out BINGO" can be taken as offensive even though it literally means using your little black stamp to stamp every square on your BINGO card.

  6. #16
    Posting Addict Spacers's Avatar
    Join Date
    Dec 2003
    Location
    My avatar is the tai chi -- a symbol of the eternal cycle of life
    Posts
    16,481

    Default

    Has anyone tried this website? https://www.politify.com/

    You can type in your current income, marital status, how many kids, etc. and it will show you each candidate's impact on your income would be if all of their proposed tax & financial policies went into effect for 2015. You can also see how your local area and even the country would be impacted financially.
    David Letterman is retiring. Such great memories of watching him over the past thirty-two years!

  7. #17
    Community Host wlillie's Avatar
    Join Date
    Sep 2007
    Location
    Mississippi
    Posts
    6,469

    Default

    That is a beyond ridiculous website into the point of terrifying in the overall stupidity to even create something that is so obviously untrue. And I don't even like Romney.

  8. #18
    Community Host Alissa_Sal's Avatar
    Join Date
    Jun 2006
    Location
    Debating Away on the Debate Board!
    Posts
    11,771

    Default

    I'm still unsure about capital gains not being taxed, although I admit that I am in a little over my head in that conversation because I don't know very much about why they are taxed exactly the way they are.

    Why is the website stupid and untrue? Unless I'm doing something wrong, it says we'll actually benefit under both plans.
    -Alissa, mom to Tristan (5) and Reid (the baby!)

    Got an opinion? We've got a board! Come join us for some lively debate on the Face Off! Debate Arena board.

  9. #19
    Community Host wlillie's Avatar
    Join Date
    Sep 2007
    Location
    Mississippi
    Posts
    6,469

    Default

    Quote Originally Posted by Alissa_Sal View Post
    I'm still unsure about capital gains not being taxed, although I admit that I am in a little over my head in that conversation because I don't know very much about why they are taxed exactly the way they are.

    Why is the website stupid and untrue? Unless I'm doing something wrong, it says we'll actually benefit under both plans.
    If you do the whole map, there are like 5 red spots for Romney where areas benefit and the rest of the US is blue for benefiting from President Obama.

    https://www.politify.com/election/lo...0/32.82/-92.64

  10. #20
    Posting Addict Spacers's Avatar
    Join Date
    Dec 2003
    Location
    My avatar is the tai chi -- a symbol of the eternal cycle of life
    Posts
    16,481

    Default

    Quote Originally Posted by wlillie View Post
    That is a beyond ridiculous website into the point of terrifying in the overall stupidity to even create something that is so obviously untrue. And I don't even like Romney.
    Nice try. Here's the *real* truth about this very truthful website...

    How it Works
    David Letterman is retiring. Such great memories of watching him over the past thirty-two years!

+ Reply to Thread
Page 2 of 4 FirstFirst 1234 LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
v -->

About Us | Contact Us | Privacy Policy | Sitemap | Terms & Conditions