Guy, a 45% tax on the upper edge (say at $1M and up won't do it -- I think that's too high a rate anyway). Taxing dividends as regular income would be what I'd go after first (again above a certain income level).

But raising revenues in conjunction with budget cuts is what is needed. You can't get there with revenue increases along, and you can't cut the budget to get to balance without new revenues.

As I noted earlier (likely missed in all the chaff), the current Fed spending is something like 24% of GDP, Current Fed revenues are 16%. 11 years ago, the numbers were 20% for each. I think that can be achieved only if there is a bipartisan sense of governance. Go after a long term 20% decrease on the spending side (that is down to 19% to 20% of GDP -- as GDP grows the amount of the budget can grow). Get revenues up to historic rates (20% of GDP). That can be done -- but not if (like the Democrats push for) the only revenue moves are directed at the wealthy (ie those making more than $250K a year). If you revert dividend income to 'regular' income status that will help as well. But somewhere in the mix, the middle class and dare I say it, some of that '47%' will be tapped for taxes as well.

Guy, a big part of it is called shared sacrifice. Have you ever been on a team either in sports or business?

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Middle of the road is someone who has voted for both Democratic and Republican presidential candidates across their voting history, in nearly equal numbers, and I would be willing to be that, as I have done just that, I am a very small minority here.

LOL I guess I must be middle of the road then, I pretty much voted R until my early 40's then I gravitated to mostly D the last 25 years or so.

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I have voted for republicans before. I've not seen any recently that aren't predecided on their opinions, I tend to default against such characters

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In a rich man's house there is no place to spit but his face.
Diogenes Of Sinope

Sarge, I have and will vote for Republicans. I have not and will not vote for Teapublicans.

Skil, a few things -- first, nearly all Romney's income is in dividends and capital gains. Under the Bushcut rules of 2001 that really maxes out at 15%. So it is quite easy for the Mitt's rate to be that low. It is the same for just about everyone making millions a year. (Not true for movie stars or sports stars unless they have very creating accounting schemes).

There was a time when dividend income was not given a favored rate -- pre-Bush.

If the Democrats and Teapublicans remain intransigent -- that higher rate will be in effect on January 1. The Bushcuts end, absent congressional action, at the end of this year. That's part of the 'fiscal cliff' the press is yammering about (the other large component is squestration which imposes across the board cuts of about 9% in the budget (aside from things such as Medicare and Social Security) INCLUDING the Teapublican sacrosanct defense budget.

Middle of the road is someone who has voted for both Democratic and Republican presidential candidates across their voting history, in nearly equal numbers, and I would be willing to be that, as I have done just that, I am a very small minority here.

One curious thing to note in the returns -- Romney *intentionally* understated his legitimate church deductions by something like $2M -- so that his tax rate would hit 14%. If he had taken the full amount of deductions, his rate would have been below 10% -- but since, during the run up to his nomination he stated the return would show 14%, he was 'compelled' to understate the deduction in order to make the numbers fit his statement.

Note, should Romney not win the election, he can always file an amended return...

And yes, Reid was full of it in tossing lying stones at his fellow church member. These LDS folks ought to be civil and truthful when dealing with one another.

I think Misfit is more of middle of the road guy. Reid was overboard on the no taxes thing. However, it did get Nitt motivated enough to produce something. I think that was the purpose of that exercise.

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In a rich man's house there is no place to spit but his face.
Diogenes Of Sinope

Thanks for that Misfit.

I was wondering when someone from the GOP side of the fence would post in this thread as I seriously wanted some balance here.

T.A.

Reid aside I still want to see how a multimillionaire can have virtually the same tax rate as I do.

Guy the Goof or whatever he goes by these days asked what part of the tax code I'd change to end loopholes. I'd examine Nitt's Filings and eliminate anything he used.

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In a rich man's house there is no place to spit but his face.
Diogenes Of Sinope

The taxes are out!

So will Senator Harry Reid apologize for saying Mitt cheated and paid no taxes? Of course not. Liberals don't know about apologizing, or about responsibility, or about accountability.

How many dems in congress donate that much to charity? Or is their favorite charity Pelosi's vocal cords?

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me@rescam.org

Why has Tim Pawlenty, Mitt Romney's campaign co-chairman, jumped ship?

http://www.newsday.com/elections/mitt-romney-loses-tim-pawlenty-as-campaign-co-chair-45-days-before-election-1.4021829

http://www.washingtonpost.com/blogs/ezra-klein/wp/2012/09/20/tim-pawlenty-the-new-face-of-the-gop-wall-street-alliance/

Perhaps he thinks he has a political future and doesn't want to sink with the rest of the ship rats

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In a rich man's house there is no place to spit but his face.
Diogenes Of Sinope

As I posted yesterday "The best example of self destruction I have seen since Nixon. November will tell if it worked."

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Why has Tim Pawlenty, Mitt Romney's campaign co-chairman, jumped ship?

http://www.newsday.com/elections/mitt-romney-loses-tim-pawlenty-as-campaign-co-chair-45-days-before-election-1.4021829

http://www.washingtonpost.com/blogs/ezra-klein/wp/2012/09/20/tim-pawlenty-the-new-face-of-the-gop-wall-street-alliance/

Just goes to show that the party as a whole need to get rid of the teapublicans once and for all.

Im sick of the attack adds though. Dont tell me why the other guy sucks. Tell me what you can do!

You know I might be inclined to vote for Jessie in 16.

Mitt has made a point of not having a stance on anything. He's been a moderate/liberal proabortion republican in Massahoozits to his current Teapublican appearance. All the while not really having any true conviction one way or the other.

It appears his only desire is to get what he wants. Sadly what he wants isn't necessarily what 300 million others really need

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In a rich man's house there is no place to spit but his face.
Diogenes Of Sinope

Just goes to show that the party as a whole need to get rid of the teapublicans once and for all.

Im sick of the attack adds though. Dont tell me why the other guy sucks. Tell me what you can do!

You know I might be inclined to vote for Jessie in 16.

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[/quote]

Old James

I think Mitt will save America by continuing to run a singularly inept campaign which will tilt the election away from Teapublicans -- not only for President, but also for the down ticket (Senate, Congress and state offices). If that happens it would be the most patriotic thing Romney has done in his life.

I've noticed several prominent congressmen in key battle ground states stepping away from Nitt and his comments

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In a rich man's house there is no place to spit but his face.
Diogenes Of Sinope

I think Mitt will save America by continuing to run a singularly inept campaign which will tilt the election away from Teapublicans -- not only for President, but also for the down ticket (Senate, Congress and state offices). If that happens it would be the most patriotic thing Romney has done in his life.