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View Diary: Romney admits that he didn't pay any income taxes in 2009 & 2010 (32 comments)

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  •  You're right (6+ / 0-)

    Although I think there's a high probability that he didn't pay any taxes for two or more years.

    As a retiree who relies on investment income (as we all will, as much as I hate it), there's been an attempt to tie my future and other retirees to that of Mitt, but there's nothing in common.

    Leaving me out of it, the only time I have a capital loss carry forward has  occurred when I didn't have enough profits from capital gains to write off losses against, but then investments are not my total income or close to it. Every dollar we take from our IRAs or 401Ks (My wife still works) is taxed as ordinary income, don't remember the marginal rate, but about 30 percent.

    If my income was all in capital gains and I had a tax loss carry forward, that would mean the previous year, I had more losses than profit. If that sounds awful for poor little Mitt, it's not because you can defer taking profits if you can find enough losses to use. That's not unfair per se and most people aren't Mitt Romney. It's a rigged system for the very rich and Bain is an especially egregious case.

    It means Mitt never paid Social Security FICA tax or the 1.45 Medicare tax that most of us paid all our lives. It also means that Bain ducked the Employer's half of both SSA and Medicare. That's seriously wrong.

    I'm not opposed to an increase in capital gains, even to the extent it would affect me. But if my wife and I have a really good year, we have to pay more for the Medicare B that we paid more for during our working lives. Why does that piss me off so much. Because if my income is higher, I should be paying taxes on it and that should apply to everyone, including lazy moochers like Mitt.

    Obama's proposed schedule would probably ease the burden on retirees under some level and I would hope hammer the leisure class who inherited prep schools, elite educations, etc. We're doing well, but we're hard core children of blue collar parents. Which probably belabors the point, along with my, go fuck yourself Mitt.

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