Let me start by saying **** all politicians. None of them represent me.
On to my next point. Most people have close to zero understanding of taxes. Granted, the tax code is fucking huge and changes every year. It's complicated. But the majority of the time, the people who scream the most about taxes pay little or none themselves.
If you want to get all butthurt because Romney is rich, that's fine. Gay, but okay I guess if it floats your boat. Don't bitch about Romney's taxes though. He didn't do anything wrong there.
Before bitching about taxes keep this in mind. 40% of people who file taxes pay NO income tax AT ALL. This is not propaganda. That is a fact that most people fail to comprehend. They say, "Well, I pay taxes! It comes out of my check every week!" They forget about that refund check they get in the mail around June that gives it back to them. Many people pay no taxes and STILL get a refund based on tax credits. That's a fact too.
In addition to those who pay no taxes at all, there's a large chunk of the population that ultimately pays a very tiny percentage of their adjusted gross income. Romney pays a higher percentage in tax than almost everyone else in America.
Now, here's where Romney was slick. He paid a tax rate of around 18% when the max tax rate for 2010 was 35%. What does this mean? It means he's got a badass CPA/ tax attorney/ financial advisor, or all of the above. He was able to do this because the vast majority of his earnings were in the form of capital gains, which are taxed at a lower max of 15%.
There's nothing shady about this at all. It's perfectly on the up-and-up and it's just flat out smart business. Every individual or business should aim to do everything in their power to minimize their tax obligation without resorting to tax evasion. But still, the only people who should be hating on him are the other rich folks who paid 25-35%. And they really have no excuse either. They're just not as smart as him.
Also, keep in mind that he'll ultimately still pay a much higher percentage of his lifelong income to Uncle Sam because he'll get fucked to death with estate taxes when he croaks.
So if you just want to cry because he has a lot of money, have at it. But if you decide to bitch about his taxes, you're exposing yourself as moderately to severely retarded.
Holy ****. I'm going to be doing pushups for months to properly rep devil for his post.
I work on a single tax credit (R&D), and the tax code is phenomenally complex. If anyone was given the option to either protect their assets or give them up to the government, who wouldn't protect them?
Don be upset that others are good at obeying the law and protecting their wealth.
It's hard to properly bitch about his taxes anyway.
He's still hiding most of that.
Ha ha the IRS can bust my ass for taxes going back a decade, but Mitt will only show the country he wants to run the returns he's filed SINCE he became interested in running for president.
What a snake. Great businessman for sure.
As President he would rob us blind.
If Americans chooses their next President because he is a slick tax evader and asset liquidator, not only do they prove they deserved the Great Recession (of the Bush Administration), they prove they deserve a second helping.