Questions and answers about both politics AND crap!!

Thursday, January 19, 2012

My Democrat friends say Mitt Romney pays less taxes than the majority of Americans. How is that possible?

He pays more.
Gather your Democrat friends and I'll try to keep this simple-enough for them to grasp:
Hi kids. Ready? Good.
Say Mitt and 9 of you Democrats own equal stake in a corporation.
Now say that company's profit last year was $10,000,000. That means Mitt made $1,000,000 and so did each of you Democrats, but you don't get to take-home nearly that much.
First, before passing-out the money among its owners you guys have to pay $3,500,000 to D.C. This is the so-called "Corporate income tax." Yep. 35% of your earnings disappear from the pool before it gets divided-up. You see, it's not a "tax on corporations," there never has been nor can there ever be any such thing, even if someone calls it that. It's a tax on your income that you made through a corporation.
O.K. Your total is now $6,500,000 to split ten ways. Did you think you were getting $650,000? Silly Democrat. ALL Democrats demand your income that you JUST PAID 35% on has to be taxed again as it's parceled-out to you. You're going to pay another $97,500 in "capital gains" tax (the 15% Mitt was talking about) leaving you with $552,500 before you pay your State and local taxes.
Now do the math with me if you know how to subtract and divide: From your $1,000,000 you actually got $552,500 meaning YOU paid D.C. $447,500 in taxes. Yep. 44.75%
Now you have a number to throw around. I want all of you Democrats to stop with the generalities and just tell everyone you think paying 44.75% in Federal taxes is not nearly enough.

By the way, did I mention most owners of corporations are working class people with retirement accounts and Union pensions? Add that to your rant of pride. Be sure and tell everyone that you think Union laborers should be PAYING D.C. WAY MORE than 44.75% of their RETIREMENT income. Don't back away from it. ALL of you Democrats are constantly saying so, you just keep leaving out the specifics of who pays and how much.
Stop it. Man-up and be honest. I won't tell the DNC so you won't be thrown-out of the party.

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