So according to Mitt the money he gets was always taxed at 35%--corporate Tax so he says

[diabeticman]

that money is double tax and that's why he should only pay 14% in taxes ...hmmm. Well if we go by his model can we make it so that the Poor/working poor/middle class get the money that was already tax twice so that we can play an even lower tax rate than Mitt? Like 9% or 5%?

OR maybe we can give the poor all the money that has been tax to the max so they can gain the means to climb a few rungs of the ladder?

[PDJane]

1. He's really good at justification.

The corporation and the person are two separate entities, and he's blurring the line...the same way he does with taxes and tithes.

[silvershadow]

2. Exactly. Besides, if corporations are people, then they need to pay what people pay...and

that figure is currently somewhere in the 30's, minimum. End of story.

[hfojvt]

3. you just made me think though

his line is really a load of crap.

A couple of quick examples.

I bought land in 1987 for $4,500 (a mere two hectares with a trailer on it) and sold it in 2009 for about $20,500 net. A capital gain of about $16,000.

That money was never taxed before.

The same thing is true of capital gains from stock purchases. I bought 100 shares of a stock on May 22 and sold them on June 11th. My gain did not come from a corporation's money that was already taxed. It came from the buyer.