Romney's 2011 "Work" Income: ZERO Zilch $0.00

[presence]

http://www.fcps.edu/islandcreekes/ecology/Miscellaneous/Freshwater%20Leech/Skin.jpeg

Freshwater Leech - Macrobdella decora


73.6 percent (http://www.irs.gov/file_source/pub/irs-soi/10in01pl.xls)- of all personal income in the nation is reported on line 7, salaries and wages.

Even among well-off American households with incomes over $250,000, more than half their income comes from work.

Database show that even among the top .01 percent of Americans, much (22.9%) of the reported income is from wages and salaries.
[]
For the Romneys, of course, the figure is

0


Romney reported an adjusted gross income of $13,696,951

All

...of their income came from interest payments, dividends and capital gains.


Hard-Working Americans Are What Create Jobs (http://www.google.com/url?sa=t&rct=j&q=romney%20hard%20work&source=web&cd=6&cad=rja&ved=0CEoQFjAF&url=http%3A%2F%2Fwww.mittromney.com%2Fforms%2Fpriv ate-sector-what-creates-jobs-not-government&ei=1uaBUJnkD5CE0QG4noDQCg&usg=AFQjCNHC77pcFWX-4TVMAL7bD9Pcc3J8Vg) - Mitt Romney


http://truth-out.org/news/item/12201-the-romneys-dont-make-money-their-money-makes-money

[Pericles]

The purpose of the income tax is to prevent the accumulation of wealth.

[tsai3904]

All of their income came from interest payments, dividends and capital gains.

That's not true.

From line 12 of their 1040, they earned $190,350 from speaking fees and $260,390 from director's fees.

[Czolgosz]

Seems myopic to care how much this guy has made and how he has made it.

[Reason]

Is it just me or is everyone and their mom suddenly using the word "myopic"

[matt0611]

Why does it matter? How is this a bad thing? I don't get it.

[PaulConventionWV]

The purpose of the income tax is to prevent the accumulation of wealth.

That's a great idea! Let's do that!

[PaulConventionWV]

Seems myopic to care how much this guy has made and how he has made it.

It's myopic to care how he made it? What if he stole it from you? Because that is definitely at least partially responsible for why he has so much.

[TomtheTinker]

Good for Mitt.

[Czolgosz]

It's myopic to care how he made it? What if he stole it from you? Because that is definitely at least partially responsible for why he has so much.

Is somebody making a claim that he stole it?

[DeMintConservative]

Why does it matter? How is this a bad thing? I don't get it.

Me neither.

I find it great actually.

[presence]

I find it great actually.

Like role model material? How exactly would an economy stay afloat if we were all Romneys? None of us do anything for anyone else; we all just collect great dividends. Or do you just find it great in a vicarious kind of way? Is it that you wish you were such a wise elitist as Romney that could suck off the rest of us without ever having to "work"; lift a finger for anyone?

People who deliver babies... I find that great actually.

People who build houses. I find that great too actually.
Writers. Scholars. Engineers. I find that great.
Street sweepers and trash collectors. Great.
At home moms. Great.



Thanks for WORKING... serving the rest of us.


Then we have the people who spend an entire lifetime finding ways to avoid serving anyone but themselves:

13 Million in annual dividends that get taxed at a lower rate than the rest of us who work:

I find that narcissistic, petty, and ill gotten whether done legally or not. Its not impressive. I'm not jealous of it. I think its a shameful and greedy thing to strive for at best. And a sad thing for an economy to reward people for. Certainly not reflective of a "great leader" who stands of the front lines for his people, toils and suffers for his country, seeks to enrich the lives of those around him, or is compassionate of the working class. It shows a self serving, self centric leech; nothing great about it in my eyes.

[tsai3904]

I find that narcissistic, petty, and ill gotten whether done legally or not. Its not impressive. I'm not jealous of it. I think its a shameful and greedy thing to strive for at best. And a sad thing for an economy to reward people for. Certainly not reflective of a "great leader" who stands of the front lines for his people, toils and suffers for his country, seeks to enrich the lives of those around him, or is compassionate of the working class. It shows a self serving, self centric leech; nothing great about it in my eyes.

The guy was 63/64 in 2011. Are people not allowed to retire at that age?

[Tod]

Is somebody making a claim that he stole it?

Didn't at some point (not necessarily 2011) his company (and thus him) get some bailout money? Receiving stolen goods, so to speak.

http://www.rollingstone.com/politics/news/the-federal-bailout-that-saved-mitt-romney-20120829

[Tod]

I should add that I don't have a problem with him making enough off of interest, dividends, and capital gains to live. I (undoubtedly futilely) aspire to that very position.

[presence]

The guy was 63/64 in 2011. Are people not allowed to retire at that age?

On pensions? Personal savings? Or on government funded bailout dividends?


What's more, the bonus loophole gave Romney a perverse form of leverage: If the banks and the FDIC didn't give in to his demands and forgive much of Bain's debts, Romney would raid the firm's coffers, pushing it into the very bankruptcy that the loan agreement had been intended to avert. The losers in this game would not only be Bain's creditors – including the federal government – but the firm's nearly 1,000 employees worldwide.


Such a great guy!

Read more: http://www.rollingstone.com/politics/news/the-federal-bailout-that-saved-mitt-romney-20120829#ixzz29rxAAtgm

[Brian4Liberty]

Income tax should be zero, across the board. If that's not possible, it should be low, relatively flat, and without deductions or exemptions across the board.

When a person makes the vast majority of their money from a specific type of income, and advocates for a zero percent tax on that, while keeping or expanding other forms of income tax, the hypocrisy should be obvious.

[Czolgosz]

Is it just me or is everyone and their mom suddenly using the word "myopic"


Didn't at some point (not necessarily 2011) his company (and thus him) get some bailout money? Receiving stolen goods, so to speak.

http://www.rollingstone.com/politics/news/the-federal-bailout-that-saved-mitt-romney-20120829


Flimsy.



I should add that I don't have a problem with him making enough off of interest, dividends, and capital gains to live. I (undoubtedly futilely) aspire to that very position.


Agreed.


This is soap opera shit for nincompoops.

[jbauer]

Why does it matter? How is this a bad thing? I don't get it.

Only thing I could come up with is that he wants to make the tax rate zero for CGs, Dividends and interest......which means I'm forming an LLC and paying myself $1 and all the dividends I can get my hands on. Exactly what everyone else will do.

[LibertyEagle]

Like role model material? How exactly would an economy stay afloat if we were all Romneys? None of us do anything for anyone else; we all just collect great dividends. Or do you just find it great in a vicarious kind of way? Is it that you wish you were such a wise elitist as Romney that could suck off the rest of us without ever having to "work"; lift a finger for anyone?

People who deliver babies... I find that great actually.

People who build houses. I find that great too actually.
Writers. Scholars. Engineers. I find that great.
Street sweepers and trash collectors. Great.
At home moms. Great.

Thanks for WORKING... serving the rest of us.

I find this interesting. What makes you believe that there is a requirement for someone to serve you? Where is that coming from? And where are you getting the idea that you are bestowed the authority to determine what is and what is not a worthwhile profession?



Then we have the people who spend an entire lifetime finding ways to avoid serving anyone but themselves:

13 Million in annual dividends that get taxed at a lower rate than the rest of us who work:

I find that narcissistic, petty, and ill gotten whether done legally or not. Its not impressive. I'm not jealous of it. I think its a shameful and greedy thing to strive for at best. And a sad thing for an economy to reward people for. Certainly not reflective of a "great leader" who stands of the front lines for his people, toils and suffers for his country, seeks to enrich the lives of those around him, or is compassionate of the working class. It shows a self serving, self centric leech; nothing great about it in my eyes.

Actually, it sounds like plain jealousy, to me. And that is the type of thing that feeds into class warfare.

Did I take a wrong turn and am really on Daily Kos, rather than Ron Paul Forums?

[presence]

Flimsy.


sounds like plain jealousy


http://www.rollingstone.com/politics/pictures/mitt-romneys-federal-bailout-the-documents-20120829

Read the documents. This is the shit he's collecting dividends on.

[Anti Federalist]

While I'm not really concerned about Robamney's income either, I think what presence is railing against is a notion of "landed gentry" or "nobility" that we seem to be fostering.

[DeMintConservative]

Presence is rallying against capitalism.

Apparently he thinks dividends and capital gains are less noble forms of income for some reason.

Romney made his own fortune. He didn't inherited a cent from his parents money. The wealth he accumulated is something to be proud of and inspirational.

[DeMintConservative]

I find this interesting. What makes you believe that there is a requirement for someone to serve you? Where is that coming from? And where are you getting the idea that you are bestowed the authority to determine what is and what is not a worthwhile profession?


Actually, it sounds like plain jealousy, to me. And that is the type of thing that feeds into class warfare.

Did I take a wrong turn and am really on Daily Kos, rather than Ron Paul Forums?

Fully agreed.

[PaulConventionWV]

Like role model material? How exactly would an economy stay afloat if we were all Romneys? None of us do anything for anyone else; we all just collect great dividends. Or do you just find it great in a vicarious kind of way? Is it that you wish you were such a wise elitist as Romney that could suck off the rest of us without ever having to "work"; lift a finger for anyone?

People who deliver babies... I find that great actually.

People who build houses. I find that great too actually.
Writers. Scholars. Engineers. I find that great.
Street sweepers and trash collectors. Great.
At home moms. Great.



Thanks for WORKING... serving the rest of us.


Then we have the people who spend an entire lifetime finding ways to avoid serving anyone but themselves:

13 Million in annual dividends that get taxed at a lower rate than the rest of us who work:

I find that narcissistic, petty, and ill gotten whether done legally or not. Its not impressive. I'm not jealous of it. I think its a shameful and greedy thing to strive for at best. And a sad thing for an economy to reward people for. Certainly not reflective of a "great leader" who stands of the front lines for his people, toils and suffers for his country, seeks to enrich the lives of those around him, or is compassionate of the working class. It shows a self serving, self centric leech; nothing great about it in my eyes.

Well said. We shouldn't celebrate this. The workers are what make this country operate. Collecting money from interest and dividends, to me, is a pretty lousy way to contribute to society. I honestly don't think lending money should be a legitimate market service. We need it in today's economy sure, but in a free market, people really shouldn't live beyond their means. The world is imperfect, however, and alas, that is how we got to where we are now. It's sad, honestly.

[PaulConventionWV]

Didn't at some point (not necessarily 2011) his company (and thus him) get some bailout money? Receiving stolen goods, so to speak.

http://www.rollingstone.com/politics/news/the-federal-bailout-that-saved-mitt-romney-20120829

That's what I mean. He's well-tied in with the establishment. He helped bail out Monsanto's reputation, so I'm sure he gets a share of the stolen money that goes into that stuff.

[PaulConventionWV]

I should add that I don't have a problem with him making enough off of interest, dividends, and capital gains to live. I (undoubtedly futilely) aspire to that very position.

It's called rent-seeking. Romney makes all of his money off of the universally looked-down-on practice of rent-seeking. Much of it is ill-gotten money that at least indirectly comes from the government.

[Pericles]

Well said. We shouldn't celebrate this. The workers are what make this country operate. Collecting money from interest and dividends, to me, is a pretty lousy way to contribute to society. I honestly don't think lending money should be a legitimate market service. We need it in today's economy sure, but in a free market, people really shouldn't live beyond their means. The world is imperfect, however, and alas, that is how we got to where we are now. It's sad, honestly.

I'd suggest to you that in a properly functioning free market economy, you would be able to save and invest some of you income (without the .gov sucking it away from you), so that over time, you investment income would replace work income, giving you the opportunity to either retire, or pursue interests of choosing, uninfluenced by monetary reward.

By thus taking yourself out of the labor pool, a place is made for someone else to earn wages, and accumulate capital.

[AuH20]

It's pretty appalling to see a thread of this nature on this particular board. And then we find out Romney has given 7 million dollars over the last 2 years to charitable causes.

http://www.nypost.com/p/news/opinion/opedcolumnists/romney_the_giver_7nLMOZGuIo2zq1LmrNInjN

You don't have to like the guy. You don't have to like his statist policies. You don't have to vote for the guy. But to insinuate that he's some kind of leech is pretty disingenuous if you ask me.

[PaulConventionWV]

I'd suggest to you that in a properly functioning free market economy, you would be able to save and invest some of you income (without the .gov sucking it away from you), so that over time, you investment income would replace work income, giving you the opportunity to either retire, or pursue interests of choosing, uninfluenced by monetary reward.

By thus taking yourself out of the labor pool, a place is made for someone else to earn wages, and accumulate capital.

The question you have to ask here is, what is a legitimate investment? Obviously, people would never invest in government bonds in a truly free market economy. I'm merely suggesting that charging interest to borrow money is a debt-based transaction that really shouldn't be done at all. I realize that, in a free market, it probably will happen, but I have never been one to say the free market solves all of life's problems, either. It only solves those problems that government introduces. More government of course, would not solve ANYTHING, but I still hold that interest is not a legitimate way to make a living. It lends itself to the existence of a noble class like we have today.