Next presidential election: Obama VS. Romney

[Browning151]

First of all, Romney isn't a bad guy for following the tax code and getting all the deductions allowed. He merely exemplifies the result of a bad tax code.

I can agree with this, our tax code is garbage.

Also Obama isn't a hypocrit just because he also follows the tax code but says it should be reformed. You play by the rules as they are, not as you want them to be.

Do as I say, not as I do. You can't preach that rich people aren't paying enough taxes and then yourself pay as little taxes as possible when you fall into that very category. Either man up and pay what you feel to be your "fair share" per your own rhetoric or shut up. If he thinks the rich pay too little in taxes why didn't he take the standard deduction of $11,500 instead of his itemized deduction of $278,498? His itemized deductions of $278,498 less the std deduction of $11,500 is $266,898 taxed at the marginal rate of 35% is $93,414 in taxes saved.

Secondly, you can't completely remove the concept of fairness from the tax code. The only issue is what is fair? Jimmy seems to think of it in terms of how many dollars you give while blank.cd is talking in terms of the burden it places on your lifestyle. There isn't a right answer because fairness is a subjective concept.

You want to make the tax code fair for everyone? Take away the politicians power to use the tax code for class warfare and wealth redistribution. Institute the fair tax, flat tax or something of that nature. Everyone pays the same percent of taxes across the board, period end of story. That's a completely level playing field. Those on the lower end will pay less taxes since they have less disposable income for discretionary spending than those on the higher end who will inherently pay more in taxes since their discretionary spending is higher.

Finally in regards to spending cuts vs revenue increases. Even if you feel your side is 100% right and all the data unequivically supports you, you live in a country where everyone gets a say and they don't all agree with you. Therefore, we have to compromise which means some spending cuts and some tax increases. This whole my way or the high way mentality is why we have gridlock in congress. It may make you feel righteous but it isn't helping the country.

The entire spending cuts/revenue increase debate would be much easier to have if the gov't were actually making CUTS, not reductions in projected increases. DC math makes that entire debate nearly impossible because no one has or is willing to make an actual cut i.e. reducing spending to a level that is actually LOWER than the previous year. That is a cut, a reduction in projected increase is not a cut.

[bu villain]

Do as I say, not as I do. You can't preach that rich people aren't paying enough taxes and then yourself pay as little taxes as possible when you fall into that very category.

So realistically what would you have him do? Write up a new tax code and file according to his made up tax code? Write a check for some arbitrary amount to the IRS? What would be the point? It's not like all the other millionaires would suddenly get out their check books just because Obama did. Would you all of a sudden agree with him if he did pay extra? Our revenue should be generated based on the tax code, not by each citizen's opinion on what they should pay.

You want to make the tax code fair for everyone? Take away the politicians power to use the tax code for class warfare and wealth redistribution. Institute the fair tax, flat tax or something of that nature.

I actually like the fair tax model but some people don't think its fair. I'm not going to disregard others opinions just because I don't agree with them, especially on a subjective topic like "fairness".

The entire spending cuts/revenue increase debate would be much easier to have if the gov't were actually making CUTS, not reductions in projected increases.

Totally agree but make no mistake, making cuts is hard.

[Browning151]

So realistically what would you have him do? Write up a new tax code and file according to his made up tax code? Write a check for some arbitrary amount to the IRS? What would be the point? It's not like all the other millionaires would suddenly get out their check books just because Obama did. Would you all of a sudden agree with him if he did pay extra?

Put his money where his mouth is and take the standard deduction, pay the extra $90 some-odd thousand dollars he saved. That is, after all, part of the current tax code. I wouldn't expect him to write a check for some arbitrary amount to the IRS, or write a new tax code for himself, or for millionaires to follow his lead but if he is a man of his word, step up and take action. He can pay more taxes without having to change anything at all about the current tax code. Would I suddenly agree with him? No. Would I have a tick more respect for the man if he actually backed up his words? Yes, a little. My point is, it's nothing more than a talking point, rhetoric driving the wedge deeper into an already divided country.

Our revenue should be generated based on the tax code, not by each citizen's opinion on what they should pay.

Nor should it based on one Presidents campaign talking points.

[bu villain]

Put his money where his mouth is and take the standard deduction, pay the extra $90 some-odd thousand dollars he saved. That is, after all, part of the current tax code. I wouldn't expect him to write a check for some arbitrary amount to the IRS, or write a new tax code for himself, or for millionaires to follow his lead but if he is a man of his word, step up and take action. He can pay more taxes without having to change anything at all about the current tax code. Would I suddenly agree with him? No. Would I have a tick more respect for the man if he actually backed up his words? Yes, a little. My point is, it's nothing more than a talking point, rhetoric driving the wedge deeper into an already divided country.

I understand where you are coming from but for me, I think it is much more than a talking point. Even if Obama was indicted for tax evasion, it wouldn't change the fact that the tax system needs reform. The message is what is important, not the messenger.

Nor should it based on one Presidents campaign talking points.

Agreed but we also shouldn't discount real problems just because they are adopted as campaign talking points.