Quote Originally Posted by pontooner View Post
Why did Newt push so hard for Mitt to release his tax info?

All it did was show that Mitt paid a low rate (13.9%) on his $20 million plus yearly earnings and make a majority of people even madder about the rate someone weathly can pay vs someone working hard and making say $50- 60,000 a year.

Here's the catch though, Mitt's income was mostly from capital gains, which are taxed at a lower rate than other types of income and Newt said he would eliminate the capital gains tax all together if elected so all he would be doing is making Mitt even more wealthy.

Kinda puts them both in a pickle IMHO


Oh yeah, this proabably deserves it's own thread but Newt wants to establish a Moon colony by 2020 if elected.

http://www.huffingtonpost.com/2012/0...n_1232426.html

Talk about a brilliant idea and waste of money.
I think gains should have a graduated rate. Maybe allow gains to be claimed as income but only amounts above 2 million dollars.

I know that sounds silly, but if you want to see the lower rates for gains, then you MUST take income above 2 million from your investments....AND the first 2 million is taxed as income at 36%, while the next x million is taxed at 15%, the regular capital gain rate.

AND if you want to really know what Romney paid, you need to see how much HIS profits in his BUSINESSES was taxed. Remember the GAINS is paid on profits, but the PRINCIPLE of those profits had already been taxed at maybe upwards of 36%.

I really WISH folks could understand that.

Later,

Geo.