Romney Pays Less In Tax Than His Secretary

Tyler Durden's picture

First Buffet, now Mitt Romney. Via Bloomberg:

  • ROMNEY SAYS HIS EFFECTIVE TAX RATE CLOSER TO 15%
  • ROMNEY SPEAKS TO REPORTERS IN FLORENCE, SOUTH CAROLINA
  • ROMNEY SAYS MUCH OF HIS INCOME COMES FROM INVESTMENTS

Next thing you know he too will offer all Republicans a one for one match on all US sovereign debt repayments, and will demand that all millionaires generously hand over their income. As for us, we quietly wonder whether the account clerks at Zurich banks are sweating already?

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MissCellany's picture

Or maybe you, Gully, just keep attracting the wrong type of chick. ;^)

SeverinSlade's picture

Hahahaahahahhaaha.  +1

For the record, I am married.  And for the record, the wife is on her own budget.

I am a Man I am Forty's picture

i'd be more interested in how much he paid when he was still working, if you already have a bunch of money it is pretty easy to legally avoid taxes

ffart's picture

If you vote for Romney, maybe he'll give your daughters a place as his house niggers in the new 3rd world sex tourism destination of the world Bananamerica.

kralizec's picture

Willard.  What's not to like?  Ruling Class Repub's love him!

(barf!)

Silver Dreamer's picture

I believe you meant to write, "Ruling Class Oligarchs love him!"  There's only one "party" in America these days, and it's not symbolized by a donkey or an elephant either.

LouisDega's picture

Who cares? What i wants to know is what does he like better, Pancakes or Waffles??

The Axe's picture

This must be how it feels to be traded for cigs at a max. security prison...over and over again

glock19's picture

If you are not paying an excorbinent INCOME TAX...then slightly above 15% should be a shock to no one except for OWS types who think the govt should be seizing even more assets of the weatlhy and redistributing them as it pleases.

Mr Lennon Hendrix's picture

In other news,

Fitch says "Greece will Default".

SHEEPFUKKER's picture

I believe the sexcretary was giving Mitt bj's on the 01st and 15th of every month..... that is a tax for sure. 

samsara's picture

So does Buffet BTW

Silver Dreamer's picture

Put the federal government back into the box it was meant to be kept in, and we wouldn't need any federal taxes at all.  Ron Paul's 0% is best and the way it should be.  Stop stealing my property!

SilverDOG's picture

Ron Paul's 0% is another attempt to restore the Constitutional protection of "We the People"

Federal income tax is illegal.

Mercury's picture
Romney Pays Less In Tax Than His Secretary

Well, he could fix that by firing her.

First of all that's a lower tax rate, not less tax dollars.

Secondly, let's talk about lowering that secretary's tax rate instead of raising someone else's for a change.

And third, if you make cap gains rates high enough, especially on interest bearing securities, a whole lot less of those (lots of munis in Mitt's PA I would guess) securities will be purchased....feel free to work out the "social justice" math on that.

Besides, with ZIRP, guys like Romney would do at least as well by buying gold and burying it in the ground.  How much tax revenue does that generate?

ebworthen's picture

Mitt Zombie!

Crony Capitalist extraordinaire!

Now get back to work peasants!

Mitt and the other Rhino Republicrat Zombies want their pound of flesh!

Debt Brother from Planet 0 and his Demican Vampires need their pint of blood!

Zombies and Vampires need real people to feed off of to stay alive so keep voting GOP and DNC and believing it matters!

(Brought to you by Wall Street, Washington, and the 1%)

shushup's picture

Just like the jackass Warren Buffett  long term investment income is 15%. IF they were being paid W-2 income they would pay 45% like their secretaries. If their secretaries make long term investment income they too will only pay 15% on that type of income. It's rediculous to make a comparison between the 2 types of income.

Bob's picture

The ridiculousness of the people who earn their income via blood, sweat and tears paying a higher rate than "financial innovators" and their sycophants does indeed seem self-evident.

tony bonn's picture

romney is a cunt....i pitty the poor fool who votes for the records shredder in chief...

pods's picture

The issue should be the fact that all of these 15%ers seem to have a close proximity to those who can print up $$ and get utility out of it before it hits the broader market.

Things will always end up this way if you allow fractional reserve banking.  Those who can print $$ make out better, no matter what the tax code says.

We always get sucked in to the class warfare debate, which sucks up time and energy and removes us from the proper question.

Why is it banks have the privilege of using OUR credit to print money, then loan it to us,  and we have to pay them for it?

pods

Overflow-admin's picture

And another wave of 'art' tax evasion? I wonder if all that bloody contemporary art bubble burst has ended...

http://www.benlewis.tv/shop/stream-films-now/the-great-contemporary-art-...

edit: fuck SOPA, find it free!

Bob's picture

wikipedia has announced they'll be going blank tomorrow to protest SOPA and PIPA. 

Mr Lennon Hendrix's picture

Why they gotta hate on that fine ass British princess???

mr1963's picture

And?  15 points on money left over from other taxes paid is a pretty high rate. A better analysis is where are his investments? US or "emerging markets?"

In the 2004 election, the press failed to report that John Kerry was 95% invested OUTSIDE America. At least the dolt Bush was 100% invested in America.

 

tekhneek's picture

At least he has a birth certificate.

Mr Lennon Hendrix's picture

From the Planet Deltron, where his army of virgins sleep.

francis_sawyer's picture

Yeah, but that's nuthin compared to Obama... I'm pretty sure he has 5 or 6 of them lying around...

azzhatter's picture

Since I went Galt my tax rate is zero. The beast can a suck

swissaustrian's picture

The fact that the other candidates (except Paul) go after him for the tax issue indicates that they know something.

azzhatter's picture

I'm also interested if Mittens is banging his secretary like Buffett......oh wait... that's not his secretary that's Becky Squick. Never mind

Alex Kintner's picture
LOL. "Mitt the Ripper" Ad, by Stephen Colbert's Super Pac. Romney running companies thru the Bain Capital Wood Chipper.
http://www.youtube.com/watch?v=Ay0UAeUmrWQ
DaveyJones's picture

He just pays her well

Canadian Dirtlump's picture

Let's get to the crux of the important points here.

  • Mitt's name is actually WILLARD! 
  • His taxable income is sizeably reduced by tithing to the angel moroni and joseph smith's lineage.
  • When he inherits a planet Willard will be the one laughing because he will be the NWO one world leader on planet xandar 13 delta.
francis_sawyer's picture

You'd just better hope that his first excutive order won't be to classify you as a Canadian Dirtlump...

Canadian Dirtlump's picture

Well it is on my long form birth certificate so I can only say guilty as charged... beats my brother, the canadina frozen turd.

moondog's picture

Other than the batshit crazy religious stuff Mitt believes in, I think his character is lacking compared to others running for the GOP.How was his life different from Ron Paul?

http://youtu.be/zMUBaP0M17E

monopoly's picture

I don't know why you are all getting all worked up over this. Obama, Romney, it is not going to make any difference. Notice how they never talk about paying down our debt. They will all spend. Romney wants a "stronger military".  That means spending more money and killing more Americans. Obama guarantees 16 trillion in debt by election day.

So it really does not make a difference who is in power. We are screwed, simple and plain.

What will make a difference is when the "funding crisis" begins and they take away the printing press from these insane idiots who think they know what is right for us poor sheeples. Not until then will we see real change. And that, I am afraid is still way down the road.

Gold, Silver at least gives me some comfort.

Silver Dreamer's picture

You really think it will be that long before we hit 16 trillion?  Hell, by the time the next fascist puppet is done in 2016, we'll be way over 25 trillion.

yogibear's picture

So, hire good enough accountants and tax lawyers and get away with paying 0 taxes. It's all about gaming the system now. 

zerozulu's picture

Romney is not alone. Every one of 1% does the same.

JW n FL's picture

 

 

Wall Street investors will receive significant new protections under a plan adopted by federal regulators on Wednesday, an overhaul that comes in the wake of the collapse of MF Global.

When MF Global filed for bankruptcy last year, some $1.2 billion in customer money vanished from the brokerage firm. The firm’s futures customers, farmers and hedge funds alike, are still without nearly a third of their money.

But the new rules would not prevent a brokerage firm from repeating MF Global’s mistake of misusing customer money, nor would they apply to any futures industry clients like those of MF Global.

Instead, the changes affect only customers who trade swaps, complex derivative contracts that allow companies to hedge exposure to interest rates and other financial products. These investors are usually Wall Street banks, hedge funds and large companies.

The Commodity Futures Trading Commission voted 4 to 1 on Wednesday to adopt the overhaul.

http://dealbook.nytimes.com/2012/01/11/regulator-adopts-new-customer-protection-rules/?src=dlbksb

See! they get it!! SWAP Protection helps with the Trickle Down Effect!

 

JW n FL's picture

 

 

25 Giant Corporations That Paid Their CEOs More Than They Paid Uncle Sam

It might make sense for a small business to pay its top brass more than it doles out to Uncle Sam in taxes, but what if that company has tens of thousands of employees and billions of dollars in profits? Well, this is America folks. What follows is a list of 25 mega corporations that paid one guy—their CEO—more money than what they spent on their entire federal tax bills last year. The same companies averaged $1.9 billion each in profits—money that was earned, in many cases, by cutting thousands of American jobs.

http://motherjones.com/mojo/2011/09/25-giant-corporations-paid-their-ceos-more-uncle-sam

JW n FL's picture

 

 

10 CEOs Who Got Rich By Squeezing Workers

Corporate profits grew 38.8 percent in 2010, the biggest increase since 1950. But while CEOs earned an average of 20 percent more last year, many Americans continued to lose their jobs and benefits. The insecurity of the middle class has a lot to do with how executives are paid. Bonuses pegged to stock prices encourage CEOs to mercilessly outsource and downsize, slashing costs to boost profits. The result is that more corporate leaders are getting paid at the expense of average workers. Here are 10 of the worst offenders:

http://motherjones.com/mojo/2011/05/ceo-executive-pay-layoffs

The Top 10 CEO's who Fired Workers to make the bottom line seem more profitable so that they could take home BIG Bonuses! Fire the workers! and get a pay raise for doing it! Wall Street Loves the Middle Class! Loves to sell shit to the Middle Class and Loves to Axe the Middle Class for Bonuses!

walküre's picture

Sick.

Near

Breaking

Point

Revolution

Must

Happen

To

Protect

Our

Kids

From

Their

Largesse

Bob Sacamano's picture

So why hasn't BHO put forth a budget doubling dividends and capital gains taxes?   He is all talk - aka a fraud (as is Buffet - the poster child).

Hobbleknee's picture

He actually pays no tax and thought 15% sounded like a high number.  Shows how out of touch with reality he is.

NotApplicable's picture

What do you mean? That reasoning is perfectly in line with the "Founding Fathers" who went to war over 10%.

walküre's picture

He's a Mormon friend of the bankers. What could possibly go wrong?

Good Lord help us.

Dr. Gonzo's picture

If we have the choice between Romney and Obama I plan to drop out of society for the most part. If they only are going to give me the choice between these 2 than I refuse to play along.