Posted:
#51
Quote Originally Posted by scalabrine:
Are you serious with this last paragraph?
Do you honestly believe that if the capital gains tax is reduced to zero, or reduced significantly for that matter, which Paul Ryan has openly stated would be his platform, that there will be more income equality and the middle class with strengthen and flourish as both Romney and Ryan keep regurgitating?
Mitt's opponents want his tax returns released to highlight the absurdly low capital gains rate and how someone of his net worth pays a fraction of the effective rate working class individual does. That isn't even touching on the tax havens and other loopholes Mitt's millions were stored in and through and that he clearly is shielding from the public view.
That has EVERYTHING to do with the economy and tax reform.
And Mitt isn't putting the majority of his money to use. He's hoarding it. For all the living millionaires and billionaires doing the same (and I can assure you 99.99% are), that translates into billions of dollars of net worth being held hostage through a tax code that increasingly favors the super-wealthy and will only continue to do so with worsening results with this man as President.
Again, those are the reasons people want his returns released. We don't care so much about his net worth as we do American tax policy where millionaire's and billionaires effective rates that are embarrassingly low in comparison to the average American.
That is NOT a distraction.
I think most people will agree to get rid of all of the loopholes. It should be simple: If an individual/company makes X amount of dollars then that individual/company pays X%. Right now the tax codes is the size of a phone book. There would still be differences between the fed govt rates and state and local rates but we can save that argument for another day.
Once again, you mention Romney not putting the majority of his money to use. I don't care what an individual decides to do with his money. If the govt doesn't cut spending it doesn't matter how much you tax the rich. It will never be enough (look at the threads in the Politics Forum: Scranton, Stockton, etc). That is why we need a budget.
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C'mon football!!
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