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Notice Romney  said "Rich will continue to pay 60% of America's Taxes"
he repeated it ... this was proof the Romney was not going to lower taxes for the wealthy

Well if you take in 1 Million dollars in taxes  and Rich pay 60%
they pay 600K

but if you take in 800K of taxes (remember he is cutting taxes 20%) and the Rich will still pay 60% of taxes low and behold they now pay 480K

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Comment Preferences

  •  Tip Jar (7+ / 0-)

    "Although it is not true that all conservatives are stupid people, it is true that most stupid people are conservative." - John Stuart Mill

    by smartone on Tue Oct 16, 2012 at 08:57:17 PM PDT

  •  Since when? n/t (0+ / 0-)

    Float like a manhole cover, sting like a sash weight! Clean Coal Is A Clinker!

    by JeffW on Tue Oct 16, 2012 at 09:00:48 PM PDT

  •  yep, that's the smarminess of what he's saying (0+ / 0-)

    He's so confident people are too stupid to realize what he's actually saying.

    He also claims he'll cut taxes on the middle class, not raise taxes on anyone else, and yet still be revenue neutral.

  •  I was so waiting (3+ / 0-)
    Recommended by:
    catwho, janemas, caul

    for the president to say

    "60%, really?  How come you only paid 14%?"

  •  he has said it over and over (2+ / 0-)
    Recommended by:
    Cpqemp, johnny wurster

    the rich will still pay the same 'share' of taxes and NO ONE has caught on to it. Last debate he said it repeatedly

    "I'm sculpting now. Landscapes mostly." ~ Yogi Bear

    by eXtina on Tue Oct 16, 2012 at 09:06:25 PM PDT

    •  If their share of the income increases (2+ / 0-)
      Recommended by:
      eXtina, Ashaman

      a near certainty in a Romney administration, and their tax share stays the same........

      These capitalists generally act harmoniously and in concert to fleece the people, and now that they have got into a quarrel with themselves, we are called upon to appropriate the people's money to settle the quarrel. Abraham Lincoln

      by Nailbanger on Tue Oct 16, 2012 at 09:12:12 PM PDT

      [ Parent ]

  •  good call (0+ / 0-)

    it was a careful 'lie,'and based on dubious conclusions, like most of Mitt

    I get him though, he thinks we should be the Cayman Islands, a low tax haven with millions of workers to put together iphones, and do that kind of work that doesn't require an investment in education.  He sees a nation of slaves, who have to work for the man or we'll die.

    It almost made sense, but then Obama pointed out that the jobs would be where there was no tax for us, not even the low tax that he'd enforce here.

    Empty shirt, empty head?  

    reelect the president

    by anna shane on Tue Oct 16, 2012 at 09:08:43 PM PDT

  •  Not Accurate Reading of Romney Statement (2+ / 0-)
    Recommended by:
    Shahryar, johnny wurster

    I dont think ( actually I am sure) that Mitt said the rich would pay 60% in taxes. He said, 5% of the people pay 60% of the taxes and that he would make sure that it stayed that way. How? What would the new tax base be after a 20% tax cut and the impact of reduced revenues on middle class well being (SS Medicare etc) was not exploited by Obama. Obama was good but as a debater he is still below par--first rule answer the question  addressing the intent of the questioner--do not answer w a stock speech about the general topic raised by that person. Still a huge relief that he, Obama, showed good command of facts to throw back at Mittens.

    •  right, and let's do the math (0+ / 0-)

      if the top 5% average $10mil per year and the other 95% make $55k (I think that's the median income)....

      Thanks to the wonderful world of Excel, using $10mil as a figure (it could be more or less, it's probably more, due to some of those billionaires), the total income of the top 5% is 9 times more than the total of the other 95%.

      So you'd think the top 5% should pay 9 times as much tax instead of 1 1/2 times as much tax.

    •  The diarist got it right (0+ / 0-)

      It's not very well worded but the point being made is correct.

      If you think of total tax receipts as a pie, a 60% share of a big pie and a 60% share of a little pie is still 60%, but of course 60% of a little pie is less than 60% of a big pie.

      And since the pie is smaller, the rich get to keep more of their flour and sugar than ever.  ergo: Romney is a lying sack of shit.

  •  If Romney cuts the rate for the top 1% (0+ / 0-)

    by 20%, but is also reducing deductions so they will pay the same amount, why cut their taxes at all?

  •  60% of taxes on 90% of wealth (0+ / 0-)

    The trick is always to compare percentage of the tax base against percentage of wealth.

    If the rich paid 60% of all US taxes on 60% of all US wealth, we might consider it fair. But if they pay 60% of taxes while holding 90% of the wealth, then they aren't paying their share. And if they keep paying 60% of taxes while their share of wealth grows from 90% to 95%, then they must be getting a tax cut that is designed to keep them from paying their fair share.

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