DIYbanter - View Single Post - What's Mitt "Flip Flop" Romney hiding?...Show us the money Mitt!!!!

Hawke[_3_]

On 7/14/2012 11:14 AM, wrote:
On Jul 14, 1:19 pm, Hawke wrote:

Romney is worth hundreds of millions, earns
tens of millions per year on those assets and pays a lower tax than the
average person does. That is not what was intended when the tax code was
written.
Hawke

It is exactly what was intended when the tax code was written. If
that was not the intent, they would have written the tax code
differently.

Dan

No Dan, when they wrote the tax code the intention was for it to be a
progressive tax. For you, that means people who make more pay a higher
percentage of their income in taxes than people who make less. When
people making a higher income pay a smaller percentage of their income
than those who make less income that's called a regressive tax. It's
generally accepted that regressive tax schemes are not fair. Thus the
reason why a progressive income tax was adopted.

It should be clear that people in Mitt Romney's wealth class should be
paying a much higher percentage than the average income earner. That is
universally accepted as being true. Every poll taken shows that people
think the wealthy should pay more. That is what the congress had in mind
when they wrote the tax code too. They did not plan for super rich
people to pay the lowest level of anyone in the system. That's what is
wrong with it. It isn't working as intended when it is operating in a
regressive manner. That is a malfunction. If not for the republican
party it would be and Mitt would be paying millions more in taxes as he
should.

Hawke