Just get the Republicans to pass the tax reform and never mind your hypocrisy.

Obama renewed and took full advantage of the Bush-era tax cuts to save himself $100,000 on his 2010 taxes. Would it hurt Obama to give all of his earnings to the IRS? After all, he’s already a multi-millionaire who doesn’t need the money. He’d also be leading by example.

Mitt Romney payed 13.9% last year period. -trying to outright confuse the issue sets a desperate tone. But he supposedly paid TWICE, even though it was still a smaller share of his income than many working class Americans paid. Oh my, it’s worthy of another sad tune……

Wrong. The capital gains tax of 15% applies only to the PROFITS on the investment, not the capital. So if Romney makes $45 million on his investments, it is only the PROFIT that is taxed – and at a pitifully small rate compared to the tax on the money a secretary makes.

Posted by: the world’s tiniest violin

It is valid because a taxpayer like Romney pays TWICE – not once like people who pay income tax. Tax payers who pay the corporate gains tax pay much more than that 15 percent. The federal government doesn’t just make money on the corporate gains end, it makes money on the buying end as well. Why people like you ignore this reality is beyond me it’s almost like you either completely don’t understand the tax system or you are so blinded by rhetoric that you don’t care about reality anymore. Honestly, I don’t know which is worse.

Posted by: Rick McDaniel | January 25, 2012, 12:53 pm 12:53 pm

Clearly, you’re thinking of the last Republican president.

-and that is exactly what Mitt Romney and the Republicans are going to have to prove to working class Americans this election. Good Luck! -you’re going to need it….because there aren’t any valid reasons besides Bush era Republicans set it up that way. Now another little ditty for all the Republicans whining about class warfare…

You seem to be criticizing him for following the tax law as it is written. The rate people pay on corporate gains (Romney does not file the regular income tax – he pays corporate gains tax) is lower because it’s double taxation – people pay tax when they buy stocks, etc. then pay again (through capital gains tax) when they earn income from selling. There are valid reasons why it is lower than the standard income tax that most people pay every year – by the way, income is taxed only once. If you don’t like the tax code, lobby congress to change it (but I urge you to research the situation first because you don’t appear to know what you’re talking about) but don’t fault people for following a law they did not write. He paid his taxes the way the law instructed him to. The federal government earned a nice return from him. He did nothing wrong – get over it and move on already.