what romney paid?

15% on what he earned from investments with corporations who had to pay 30% on what they earned. And of mitt's take home, 15% of that went to charities like the mormon church. But the talking points from the left today will be he didn't pay his fair share. Btw, Median tax rate for Americans is 11%.

Didn't he pay something like $6 million in the last couple years....seems like they paid their share given they are only two citizens. Almost makes me feel there should be an upper limit on taxation per person. How can we feel that any one person owed $3million plus to society in any given year (or 2), unless they started a war?

I think I would be ok with a flat federal tax, that started on people that made more than $20k and where the upper limit is $200k of earnings to be taxes. If you make less than $20k, no taxes, if you make more than $200k, your tax stops at some % of $200k. You can pick the rate based on how much the people of the us cannot do without govt help. Or perpahs a lifelong limit on the amount of taxes that one person would pay. One's obligations should have an upper and lower limit.....but I am also the guy that would trade 100,000's of regs for an upper income limit on earnings or wealth...and I know people don't like that, the 100,000 regs make people feel more free.

I still look at people as individuals, responsible as individuals, not so proportional to their bankbook. To be honest I would be ok with a poll tax, with a poverty exemption, but I made it ever so slightly progressive for those of you that would demand it to be so.

My sense is that the Romneys at $6million in taxes have paid their life share. I would be fine with no more taxes for them ever...unless he starts another war without congress when he is president, and then I ask that he pays for every last cent.

When I shop, the prices of items are in dollars, when I pay an employee, I pay him in dollars, when I buy a house, I pay in dollars. Perhaps we should have tax conversations in dollars because that is what we all spend and earn. I understand what a percentage is, but using them in this case is only a technique to distract people from those dollars, and the Romney's pay a lot of dollars to keep up all afloat. I don't think it is fair to mention 14% without the real dollar amount right next to it so that when people bitch that they don't pay enough, that they realize the Romney's have contributed more last year than most ever will.

Well that does it then! I'll just have to become a millionaire too.

Who else is in?

You guys are such tools! He manipulated his income to take advantage of loopholes in the tax codes that are not available to the middle class. For example, $13 million of his 2010, 2011 income was in "carried interest" that was taxed at the capital gains rate. However that "carried interest" was actually compensation earned through his equity fund. Instead of being paid salary, as would 99.9% of Americans, fund managers take their payment in the form of equity/profits which instead of being taxed at their personal income tax level, are only taxed at capital gains rate of 15%. It has been estimated that closing that loophole which is only available to a limited number of fund managers would save the US over $4 billion per year from only 25 fund managers, including Romney, Soras, etc. So Romney at the same time that Romney was leveraging the equity out of US companies at the cost of thousands of jobs, he was able to also dodge paying full taxes.

He also manipulated his IRA investments as well. If you or I borrow from our IRA for investment purposes, that is taxed at 35%. However, Romney structured his IRA in the Cayman Islands which are not covered by that law, thus allowing him to freely borrow from the IRA for investment purposes without paying US taxes on it.

Whether or not these are legal, they certainly are not ethical, particularly for someone who claims to want to help the middle class.

Something the Dog Said wrote: You guys are such tools! He manipulated his income to take advantage of loopholes in the tax codes that are not available to the middle class. For example, $13 million of his 2010, 2011 income was in "carried interest" that was taxed at the capital gains rate. However that "carried interest" was actually compensation earned through his equity fund. Instead of being paid salary, as would 99.9% of Americans, fund managers take their payment in the form of equity/profits which instead of being taxed at their personal income tax level, are only taxed at capital gains rate of 15%. It has been estimated that closing that loophole which is only available to a limited number of fund managers would save the US over $4 billion per year from only 25 fund managers, including Romney, Soras, etc. So Romney at the same time that Romney was leveraging the equity out of US companies at the cost of thousands of jobs, he was able to also dodge paying full taxes.

He also manipulated his IRA investments as well. If you or I borrow from our IRA for investment purposes, that is taxed at 35%. However, Romney structured his IRA in the Cayman Islands which are not covered by that law, thus allowing him to freely borrow from the IRA for investment purposes without paying US taxes on it.

Whether or not these are legal, they certainly are not ethical, particularly for someone who claims to want to help the middle class.

Well we may be tools, but don't you think it would make better sense to just become a millionaire so we can take advantage of these perks too?

The Dems had total control of the House, Senate & Presidency after Obama was elected and did nothing to fix what you consider a unfair tax code. So blaming the Republicans won't work here. Blaming the boys inside the beltway might work.

Translation: While Obama tonight is going to hammer on economic unfairness when he had the chance to do something about it, he kept the status quo.

All talk, no walk.

Just being a millionaire won't cut it, you will need to be a multi-billionaire. Good luck with that. In the meantime, those taxes that Romney did not pay on his compensation are being paid by the middle class taxpayer.

FredHayek wrote: The Dems had total control of the House, Senate & Presidency after Obama was elected and did nothing to fix what you consider a unfair tax code. So blaming the Republicans won't work here. Blaming the boys inside the beltway might work.

Translation: While Obama tonight is going to hammer on economic unfairness when he had the chance to do something about it, he kept the status quo.

All talk, no walk.

Really, that is the best you have? The Dems did not fix the Republican corruption?

Is there a number that you believe he should have paid?

When does his "debt" get fully paid? What would you consider "fair", and why?

Sorry...Just being a millionaire won't do it... Newt earned $3.1 million, and paid an effective rate of 31% ... You have to be a quarter-billionaire to get the perks that Mittens gets....