Mitt's Income vs. Your Income

Jan 25, 2012 | Posted by: Politix Staff Ed | Full story: www.slate.com

Politics Staff Feature

How long would it take you to earn $21 million dollars, Mitt Romney's annual income? You can find out using this handy calculator from left-leaning op-ed site Slate.

Say you earn $30,000 per year, it would take you 722 years to make what Mitt made in 2010.

And Mitt can earn your $30,000 salary in 12 hours and 7 minutes.

Try the calculator: Ready for class warfare, anyone?

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“Kiss Me You Fool!”

Since: Jan 08

Atlanta via Brooklyn NY

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#1
Jan 25, 2012
 

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I fired you,
but don't despair,
We corporate raiders made out like bandits,
cause we also sold your chairs.

~ Williard your Repub Rominee
Eric Gustafson

Newport News, VA

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#2
Jan 25, 2012
 

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This is how Romney taxes on income works.

Private equity funds raise capital to purchase or invest in new and existing businesses.
They are private in the sense that their ownership interests are not publicly
traded.

Private equity firms may acquire mature public
companies with the intent of converting them to private companies,restructuring or reorganizing their activities, and then later reselling them to the public or another firm. The initial purchase of a public firm by the private equity fund can be done through a leveraged buyout.

A general partner of a private equity or hedge fund typically receives two types of compensation: a management fee tied to some percentage of assets under management and “carried interest” tied to some percentage of the profits generated by those assets. The management fee is taxed as ordinary income to the general partner. Taxation on the carried interest is deferred until profits are realized on the fund’s underlying assets, and any resulting profits to the general partner are taxed at the capital gains tax rate to the extent the fund’s profits reflect capital gains.

“Kiss Me You Fool!”

Since: Jan 08

Atlanta via Brooklyn NY

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#3
Jan 25, 2012
 

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Mitt

Under Reagan, your unearned income was 29%

Under Obama, your unearned income is 15%

You managed to work it down to 14.1%

Is there a reason why you praise the rate under Reagan, while knowing that rate was double what you're paying now?

Oh wait, I figured it out. You know your supporters will believe anything. They fell for the "dog kennel was airtight" lie, knowing if that was the case, how could the pooch breathe? You were able to afford a doggie oxygen tank?
Gary

Bellingham, WA

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#4
Jan 25, 2012
 

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$21 million is what he is reporting?

This liar is hiding many more millions off shore.
That's how the rich stay rich.
You can bet on that.
Makes sense

Dearborn, MI

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#5
Jan 25, 2012
 

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Where is Teddy Roosevelt when you need him?

Since: Dec 07

Spring, TX

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#6
Jan 25, 2012
 

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The question is how much Slate makes from the lefties off their bullshit.

We know Al gore is worth close to a billion now!

The hypocricy of the left rides the donkey.

Donations to Slate anyone!

During Romney's career, he has made an enormous amount of money by taking over weak companies and, in many cases helping to turn them around, and he has used that money to finance further productive investments in the economy. That Democrats see something wrong with them is simply further proof of how little they understand about job creation.
Ezra Klien

Since: Dec 07

Spring, TX

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#7
Jan 25, 2012
 

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Makes sense wrote:
Where is Teddy Roosevelt when you need him?
Teddy would have kicked nobama's ass.

“Kiss Me You Fool!”

Since: Jan 08

Atlanta via Brooklyn NY

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#8
Jan 25, 2012
 

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We've gone from repub touting "Joe-The-Plumber" to "Mitt-the-Swiss-Bank-Acco unt-Holder" in less than 4 years.

How'd that happen?

“Kiss Me You Fool!”

Since: Jan 08

Atlanta via Brooklyn NY

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#9
Jan 25, 2012
 

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Bluebonnets-Thistle wrote:
<quoted text>
Teddy would have kicked nobama's ass.
.....you mean like in a caged death match? Thanks for that. You rightwingnuts really raise the level of discourse.

Who would have won better Alexander Hamilton and Dwight Eisenhower?

Since: Sep 08

Viva Madeira

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#10
Jan 25, 2012
 

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Mitt’s income vs. my income??? There is no “vs.”‘cause his income and my income are in two different dimensional planes of existence. When the differences are so vast, there is no comparison.

“Kiss Me You Fool!”

Since: Jan 08

Atlanta via Brooklyn NY

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#11
Jan 25, 2012
 

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14% rate Mitt's paying....yet those on the right defend him as he claims his right as "job creator" means we can't close loopholes only he and other .1% pay on unearned income.

Hey sheep, if this was about lowering your taxes, would your repub reps be defending any closing of the loopholes for "JOB CREATORS"?

They could care less about your rate on earned income. If so, they wouldn't be pushing just for "job creators"

Amazing, how the top 1% has even food stamp repubs fighting to make Romney's unearned income 14% rate even lower. Even if it's already half what it was under Reagan.

Sheep.
Makes sense

Dearborn, MI

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#12
Jan 25, 2012
 

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We need rich Mittens, someone like Rick Snyder, for president. Then he can install emergency managers to replace elected officials.
1 post removed
Makes sense

Dearborn, MI

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#14
Jan 25, 2012
 

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OneRyder wrote:
14% rate Mitt's paying....yet those on the right defend him as he claims his right as "job creator" means we can't close loopholes only he and other .1% pay on unearned income.
Hey sheep, if this was about lowering your taxes, would your repub reps be defending any closing of the loopholes for "JOB CREATORS"?
They could care less about your rate on earned income. If so, they wouldn't be pushing just for "job creators"
Amazing, how the top 1% has even food stamp repubs fighting to make Romney's unearned income 14% rate even lower. Even if it's already half what it was under Reagan.
Sheep.
Truthfully, it's 13.9% that Mittens pays in taxes. Decimals make a big difference with people who are worth hundreds of millions of dollars. Mittens pays a much lower tax rate than I do, but then again I EARN my income. Mittens is not a 1%er. Mittens is a 0.006%er, way beyond what most Americans can image let alone comprehend. Mittens is immoral and made his money legally by lobbying for IMMORAL laws. I'm not so sure the money was in fact even made legally because why is it hiding in Cayman Island/Swiss bank accounts. That's where money gets laundered

“i hope we can change this!”

Since: Aug 08

usa

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#15
Jan 25, 2012
 

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you left wing morons sure spend a lot of time and energy spewing hate, lies and trying to convince each other to not vote republican...

like it's going to matter!

LMAO!

Since: Feb 08

Hypoluxo Fl

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#16
Jan 25, 2012
 

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carey529 wrote:
you left wing morons sure spend a lot of time and energy spewing hate, lies and trying to convince each other to not vote republican...
like it's going to matter!
LMAO!
So speaks the minister from the Faux News Ministry of bullshit Propaganda.
Eric Gustafson

Newport News, VA

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#17
Jan 25, 2012
 

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Romney is not just a Vulture Capitalist, he's does leverage buy outs. That's not just taking over "weak" companies, that picking the carcasses of any company he can obtain through stock purchases and stripping them of their assets and auctioning off the parts for a profit.

Romney is legal, he's not doing anything illegal, his practice is unethical, but it's 100% legal.
Bluebonnets-Thistle wrote:
The question is how much Slate makes from the lefties off their bullshit.
We know Al gore is worth close to a billion now!
The hypocricy of the left rides the donkey.
Donations to Slate anyone!
During Romney's career, he has made an enormous amount of money by taking over weak companies and, in many cases helping to turn them around, and he has used that money to finance further productive investments in the economy. That Democrats see something wrong with them is simply further proof of how little they understand about job creation.
Ezra Klien
Eric Gustafson

Newport News, VA

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#18
Jan 25, 2012
 

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Job creating is the last thing on one's concerned with in a Leverage Buyout. It's strictly profit motivated. It's purchase, Strip the assets, auction off the parts and move on to the next deal.

On 21 Million in income, job creation is not a thought on those deals. Seriously, would it be for you?
OneRyder wrote:
14% rate Mitt's paying....yet those on the right defend him as he claims his right as "job creator" means we can't close loopholes only he and other .1% pay on unearned income.
Hey sheep, if this was about lowering your taxes, would your repub reps be defending any closing of the loopholes for "JOB CREATORS"?
They could care less about your rate on earned income. If so, they wouldn't be pushing just for "job creators"
Amazing, how the top 1% has even food stamp repubs fighting to make Romney's unearned income 14% rate even lower. Even if it's already half what it was under Reagan.
Sheep.
Eric Gustafson

Newport News, VA

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#19
Jan 25, 2012
 

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Bluebonnets-Thistle wrote:
<quoted text>
Teddy would have kicked nobama's ass.
Where's all the violence coming from? Some of you do not handle defeat well on the political front.
1 post removed

“Allcladrad”

Since: Jan 10

New Orleans, LA

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#21
Jan 25, 2012
 

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Makes sense,
You need a new tax man. 97% average 12% or less.

Since: Feb 08

Hypoluxo Fl

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#22
Jan 25, 2012
 

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I can definitely tell the differnce between Mittens income and mine. I can count mine. I can't count his without a calculator.

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