Is The IRS Going After Romney For Crimes & Not Paying USA Federal Taxes??

Started Aug 3, 2012 | Discussions thread
WoodMaven
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Re: But hit DID release 2010 & 2011 returns....
In reply to Bill Randall, Aug 3, 2012

Bill Randall wrote:

WoodMaven wrote:

...he paid 13% of what he made. Return on investments are taxed lower than regular income - just like Buffet.

Probably so.

I do have a problem with the lower tax rate on investments. To those of use that may make thousands of dollars each year from investments, we appreciate the difference in the tax rate. But face it, it is peanuts. The rich make hundreds of thousands of dollars from investments.

The reason taxes are lower on return on investment is that we WANT people to invest in areas that will lead to growth of industries. If the taxes go up, the amount of investment will go down. Vnture capitalists invest in new medicines, new technology or other worthwhile things. Would you rather they invest it overseas?

Wilhelm, the WoodMaven

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