http://kdvr.com/2012/08/16/romney-on-ta … 3-percent/
So, this law professor, who apparently specializes in tax law, said this about Romney's tax rate:
... really, there are almost no words... except for WHAT IS WRONG WITH YOU!?!
According to this guy, Romney is using capital gains losses to keep his actual taxes paid low. Gosh, that's a brilliant strategy!
You have 3 investments, all long term, will be taxed at 15%.
Facebook: $50 million loss
Apple: $75 million gain
Google: $25 million gain
With investments, you pay taxes on a trade the year you close the trade out. So let's say you think it's a good time to get out of Apple and Google. You realized $100 million in gains this year. You would pay $15 million in taxes, and keep $85 million for yourself.
But, brilliant strategist that you are, you decide to also sell your Facebook stock. Ouch, you have lost $50 million in that trade, so in all actuality you only made $50 million this year. You would pay $7.5 million in taxes, and keep $42.5 million for yourself.
Look at you! You decreased your tax burden! That option was much better than waiting for Facebook stock to regain value, right?
Seriously... how anyone could suggest that capital gains losses are a tax avoidance strategy... it's just beyond me.
by Susan Reid 8 years ago
So much for toning down the rhetoric. Not just Beck, but Beck's boss at Fox News are refusing to call off the dogs on this one.How a 1966 article about welfare reform could POSSIBLY be considered the cause of America's current economic collapse is beyond me. Then again, everything Beck says is...
by Abdus Salam 4 years ago
If someone give you 10 million dollar, what will be your spending plan?Someone ask me the question. Please Answer this question. thanks
by mio cid 18 months ago
Trump's strategy is so simple and so effective it makes it brilliant.He figured out early on that his base consists in its majority of simpletons and low information Fox News ,Rush Limbaugh, Sean Hannity followers. So all he has to do is make the most outrageus ,divisive even racist comments ,along...
by ga anderson 12 months ago
Thanks to IslandBite's link to Mueller's Committee indictment: https://www.justice.gov/file/1035477/download I am offering what might be a rant.The Russian "meddling" effort was brilliant! They used technology and our own principles of Rights and open Democracy against us. And they...
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