Skip to comments.Obama: Ryan plan would reduce Romney's tax rate to 1 percent
Posted on 08/18/2012 1:51:45 PM PDT by barmag25
(CBS News) Under the budget plan offered by Republican vice presidential nominee Rep. Paul Ryan, R-Wis., Mitt Romney would "pay less than 1 percent in taxes each year," President Obama charged during a New Hampshire campaign swing Saturday.
"That's a pretty good deal, just paying one percent in taxes; you're making millions of dollars," the president said in his second remarks of the day in Rochester, N.H., repeating the claim he first made earlier in Windham, N.H., that the plan put forth by Ryan - the House Budget Committee chair - would cut Romney's tax rate to less than 1 percent.
"Now, here's the kicker: They expect you to pick up the tab," he continued to an eruption of "boos."
Mr. Obama urged his New Hampshire supporters to approach Romney and Ryan when they arrive in the state for campaign events Monday "so you can tell them if you think this is fair. And you should ask them, 'How do you think that's gonna grow the economy again? How is that gonna strengthen the middle class?'"
(Excerpt) Read more at cbsnews.com ...
Basic assumtion whenever you see the name Obama:
1.He’s a dunce
2. He’s a liar
Basic assumption whenever you see the name Obama:
1.He’s a dunce
2. He’s a liar
he isn’t going to win by obsessing about one guy’s tax rate. and he isn’t going to win by demanding more money (from anyone) for him to waste on solyndra and obamacare.
I watched a couple minutes of his Rochester remarks but soon turned it off as I wanted to keep supper down.
Obama is an IDIOT...and so are his supporters!!!
I guess they really do want this election about Romney’s tax returns.
I call BS on the “Fresh Prince of Bill Ayers”
Prove it Obama!
It should be apparent by now that, unless fed info by TOTUS, Bammy is not a quantitative guy. 1% tax rate; 50K leg amputations keeping surgeons busy, 2.6 million “jobs saved”, etc, etc. Unfortunately, he’s got smooth delivery, there’s an army of apologists justifying whatever he says, the MSM mostly carries his water, and most Americans are innumerate.
He can’t prove anything he says and no one in the so called news media will challenge him either.
If I had a family member stand behind this idiot ass at a campaign rally I would disown them! Or even if they attended one to support him they would be history in my family, period.
My wife was screaming at me to turn his speech off! I tend to voice my opinion of this POS loudly. She has no love of the POS either! But hates to see me get so agitated while yelling “he is Lying” and “that is a bunch of BS”!
“Bammy bumps the “ENVY button.”
Who is listening ?
This is just so NOT a campaign issue.
Said the president who's entire political career has been about breaking the bank & redistributing the earnings of the productive class to the nation's thumb suckers.
The lies get more outrageous every day. And the media coverage more droolingly adoring.
Please click the link.
The Republic you save may be your own.
Does anybody know how many campaign stops Obama made in NH during the 2008 campaign? He won NH by 10 points in 08. By following his campaign stops I think we can get a pretty good idea on what his internal polls are saying.
Fresh Prince of Bill Ayers
That is the best nickname yet!!!
I think 1% would be a good number. We should have a 1% flat tax on everyone’s gross income or gross revenue regardless of source or circumstance and the government should pare itself back to only what’s constitutionally delegated to it and we’d all be fine. All social welfare programs, corporate welfare and other unconstitutional drawings from the federal treasury should be immediately halted and the functions (if needed and wanted) returned to the states and the people per the constitution.
I would be willing to bet that 99% of the Aholes commenting at the original site complaining bout Mitt’s tax rate don’t even know what tax rate they pay themselves under Obama.
0blamer will host the new muslim brotherhood dictator of Egypt in the comming days, He’ll give Morsi hard earned American taxpayer dollars to crucify more Christians with. I only wished his lies were true, and his stash was so curtailed as to inhibit his plans.
I thought Romney allegedly paid no tax?
If they want to make it about spending habits, tie to to what most people understand; Their own budget!
Doesn’t Romney pay the tax rate that Obama has on the books?
STFU Obama and STF down!
“Now, here’s the kicker: They expect you to pick up the tab,” he continued to an eruption of “boos.”
So sayeth the one who recently walked out on a restaurant bill thus depriving someone who DID build their business hard earned money. But, not surprising as he has had his entire life subsidized.
All he has is hot air.
One percent - that’s fabulous. What would be really awesome is if everyone could pay just one percent. To imagine that the producers would pay a smaller rate than the non-producers is almost as if there was an incentive to produce and not be a lazy OWS welfare collecting drain on civilization. You know that could be good! Although if I could choose I still prefer a capitation tax.
I just hope the other side continues to focus on the feeble economy and jobs and doesn't let Obama set the narrative. We'll see how well they can get the proper messages across in the face of the community organizers.
1% sounds good. Obama is resorting to “MSU”...... makin’ S#%@ up
Easy to debunk. RNC should show how Ryan’s plan would allow a small business owner to invest in his/her business to create jobs
Obama goes from lie, to lie, to lie, to lie, to damn lie. Nobody, but nobody can believe anything that comes out of this guy's mouth...all and everything just damned lies!!!
Romney has his own special tax rate.
Hey Bammy, you run the country.
If Romney is a tax cheat have him busted, otherwise STFU!
I wish the GOP had the stones to respond to this charge by suggesting the 46% of wage earners who currently pay NO federal income tax should help the rest of us ‘pick up the tab’.
1%? Good! We shouldn’t be taxed on income nor profits at all! Excise and sales taxes are not intrusive to us and the way we grew our nation for many years.
He pulled Rahm’s pecker and this stat out of the same place.
At the same time if you have somebody making a living earning the big bucks engaging in nothing but capital gains, we might consider doing two things (along the way to that 1% rate) ~
(1) any 'gains' withdrawn from the continual stream of reinvestment for use as personal income (to buy houses, cars, food ~ the usual stuff) would be counted as ORDINARY EARNED INCOME ~ and
(2) the federal personal income tax would be converted to operate like the federal corporate income tax ~ meaning we'd be taxed on ONLY OUR PROFIT ~ which would enable many of us to go to less than 1% tax rates instantly!
BWAhahahahahahaaa ~ HI HO General Electric!
End of story.
You want tax increases, see your boy Obama and his running dog lackeys.
And yes, everyone should have 'skin in the game' so they too can share the pain when the country votes for tax increasing politicians.
The argument that we should tax the poor is just crazy talk anyway.
At the same time I paid fantastic amounts in taxes over that time yet if I were General Electric I"d paid nothing and would be rolling many of my losses forward ensuring that I might well never pay taxes again.
LMAO I think you are right.
You would probably be moving your plant to China too.
Now there you go complicating things and creating jobs for lobbyists, politicians, lawyers, accountants, cheats and crooks. But I repeat myself. I said 1% on the GROSS. No exceptions. No deductions. Not even business expenses. If you earn or receive money, you pay 1% tax on it. If you sell an asset (or investment) you pay 1% tax on the gross proceeds. If you sell your house, your car, your boat, your stocks or bonds, you pay 1% tax on the gross proceeds. If a company you own receives revenue from any source you pay 1% tax on it. If a corporation receives revenue from any source it pays 1% tax on it. The monthly or quarterly tax form has one question. How much money have you received this period? Multiply times 1% and send it in.
No individual, company or corporation or anyone else ever receives a dime from the federal government except for those constitutionally allowed and congressionally approved contractual payments for goods and services actually rendered, and a strict accounting is made of that and stiff jail terms applied for all who cheat the system.
What’s one percent of our gross domestic product? If the federal government was pared down to only those functions actually enumerated and authorized by the constitution, how much would we need to cover all costs? Maybe you are right. Maybe we could fund OUR constitutionally authorized government for less than 1% of GDP? Defense would be our single largest expenditure. How much is actually needed for that?
That’s no SS, no medicare, no HUD, not freddie, no fannie, no IRS, no EPA, no FDIC, no FDA, no federally insured or guaranteed anything, in fact, better than 90% of the current federal directory of ABC departments, agencies, commissions, etc, would be shuttered and their budgets reduced to zero. Ninety percent or more of all federally owned assets sold off to repay those who paid into social security, etc. If we need more to repay them, drill, baby, drill; mine, baby, mine; log, baby, log; farm, baby, farm; build baby, build; make, baby, make. Grow the GDP like never before and reap the benefits. The federal government has locked up more than enough natural resources to make our economy boom for a long, long, time.
Oh, and did I mention there’d be no payments from the feds to any state or local government? And no mandates handed down? It was never intended for the feds to lord it over the states.
I couldn’t believe my ears eartlier today. Obama said he had a surplus last year!!! I heard his whole speech. It was not taken out of context! Live on FOX
And Romney would still be paying more in taxes than the 40% percent, freeloaders, in the population.
One of them will eventually generate about $100 trillion in royalties ~ which pretty much pays off the national debt no matter how you compute it ~ even if you use present value analysis.
(just checked and one article says 3 trillion barrels),
What that means is that we don't really have a national debt problem ~ a more realistic concern is that we don't just wipe out other countries' currencies on a casual basis.
We also have the long term difficulty that beat the Hapsburg empire. Along the way they'd married their way around Europe and were related to almost everyone, but the core family OWNED THE AMERICAS and a vast fortune in gold and silver, with more silver being found all the time. The Spanish Milled Dollar was THE world currency in its time.
Their fortune, in Spain, was literally more than the combined value of everything in the rest of the world, which meant they could just buy what they needed. With a relatively small national population of about 15 million at the middle of the 16th century local conditions in several Hapsburg interest areas deteriorated simply because people were unemployed because literally everything was being imported, much of it from China ~ note, by the late 1700s China was once again the world's richest nation ~ mostly through hard work and sales to the Hapsburgs and other wealthy Europeans.
Some older analysts suggested the Spanish lost their skill base, but it's more the case they lost jobs. One area of Spain that had been particularly hard hit (Extremadura i believe it's called) saw much, or even most of its population flee in desperation to the Americas.
With our demonstrated ability to create some serious deflation through fantastic productivity improvement, we could find ourselves hitting the same wall Spain did at the end of the 17th century ~ still rich, still a modest part of total world population, with high unemployment, an exploding national debt, and literally unable to do anything about it.
Which is why I"m not particularly concerned about national debt, but I am really concerned about high growth in productivity when we are also buying our stuff abroad. It's a long term disaster that really does happen.
What a lying sack of turds! and his supporters will lap it up!
You think a “liquidation sale” of anything, even if it produces a loss of, say, 50% should be taxed?
Receiving money is not earning money. You are sounding a lot like a New York democrat lately. Sell a share of stock at a loss? You owe tax.
Sounds very “liberal”.
They have the vote, and are in the majority.
The gave the cretin algore the popular vote, elected Bill Clinton twice, and voted in a foreign communist last time around.
All over but the shouting, the enemy is us.
Time to get out before the apparatchiks put up a wall and prevent the productive class from doing so.