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Johnny Abnerscransky
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Clint - Initial Comment Taxes 101 The initial Money Mitt made was taxed at the US Federal Corporate Tax Rate of 15% to 35% The money Mitt made the last several years was taxed at 15% The US Capital Gains Tax Rate This initial money had already been taxed at the Federal Rate. The money then was risked by Mitt, being re-invested in companies that made happened to make a profit. The profit made is called a "Capital Gain", which is taxed at 15% So... Add the initially taxed money, (taxed @ 15% to 35%); to the money that was taxed, as capital gains profit @ 15% = 40% percent that Mitt Romney -- "gave back to the community" Gingrich, unlike Romney, wants to completely eliminate taxes on capital gains. The result: Romney’s tax bill would drop from an estimated $6.4 million in 2013 to just $75,000. Clint, I appreciate the fact that you are an "average person"! This is why you are not running for office, and he is. - Johnny
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Johnny Abnerscransky is now following The Typepad Team
Jan 25, 2012