Author Topic: Sanders Tax Returns  (Read 5510 times)

Ben

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Sanders Tax Returns
« on: April 16, 2016, 12:59:09 AM »
Well, now we know why Sanders was so hesitant to release past tax returns. For a "fair share" guy, he doesn't seem to be doing his part. Also, as a Wall Street hater,  I wonder what kind of portfolio he has? <15% means dividends are tax free.

http://twitchy.com/2016/04/15/you-wont-believe-how-little-bernie-sanders-pays-in-taxes/
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Boomhauer

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Re: Sanders Tax Returns
« Reply #1 on: April 16, 2016, 07:06:55 AM »
Socialism is for thee, but not for me!

Typical communist little *expletive deleted*ck...
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Ben

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Re: Sanders Tax Returns
« Reply #2 on: April 16, 2016, 07:41:55 AM »
Obama's and Biden's tax returns have also just been released. Obama paid 19% effective, and Biden paid 23% effective.

Clinton released her return, but I haven't seen numbers. I won't be surprised to see a similar effective rate though. The Democrat motto: "We need to stick it to the (other) fat cats!"
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birdman

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Re: Sanders Tax Returns
« Reply #3 on: April 16, 2016, 07:52:46 AM »
Obama's and Biden's tax returns have also just been released. Obama paid 19% effective, and Biden paid 23% effective.

Clinton released her return, but I haven't seen numbers. I won't be surprised to see a similar effective rate though. The Democrat motto: "We need to stick it to the (other) fat cats!"

Not that weird.  If you make $300k as a married couple with -zero- deductions (effectively, a $300k taxable income) you will pay ~$75k or 25%.  Not that hard to take that down by $20-30k with deductions to get to <20% effective.
Hell, we grossed in that range last year and had an effective tax rate of <10% (-huge- amount of qualified deductions this year) without any LTCG or weirdness.

Ben

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Re: Sanders Tax Returns
« Reply #4 on: April 16, 2016, 07:58:43 AM »
Not that weird.  If you make $300k as a married couple with -zero- deductions (effectively, a $300k taxable income) you will pay ~$75k or 25%.  Not that hard to take that down by $20-30k with deductions to get to <20% effective.
Hell, we grossed in that range last year and had an effective tax rate of <10% (-huge- amount of qualified deductions this year) without any LTCG or weirdness.

Though the point is that they are hypocritical because they don't want you to have that rate, but have no problem using the tax code to their own advantage. There is nothing stopping them from not taking deductions and paying their "fair share" of 30% or so to the IRS.  :)
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Fly320s

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Re: Sanders Tax Returns
« Reply #5 on: April 16, 2016, 08:00:26 AM »
Though the point is that they are hypocritical because they don't want you to have that rate, but have no problem using the tax code to their own advantage. There is nothing stopping them from not taking deductions and paying their "fair share" of 30% or so to the IRS.  :)

And Bernie could voluntarily pay more, if he chose.

Not that weird.  If you make $300k as a married couple with -zero- deductions (effectively, a $300k taxable income) you will pay ~$75k or 25%.  Not that hard to take that down by $20-30k with deductions to get to <20% effective.
Hell, we grossed in that range last year and had an effective tax rate of <10% (-huge- amount of qualified deductions this year) without any LTCG or weirdness.

How did you escape the AMT? 
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birdman

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Re: Sanders Tax Returns
« Reply #6 on: April 16, 2016, 08:36:21 AM »
And Bernie could voluntarily pay more, if he chose.

How did you escape the AMT? 

Qualified deductions.  We bought a house, had way more business expenses, etc.  I was shocked as well.
Also, even with AMT, say your married AGI was 160k...your effective tax rate would still only be like 14%.

Hawkmoon

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Re: Sanders Tax Returns
« Reply #7 on: April 16, 2016, 07:11:01 PM »
Another poster child example of why we need a flat rate income tax system. What did Steve Forbes say a flat rate would have to be to fund the government? Wasn't it 15 percent? I could live with that.
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MechAg94

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Re: Sanders Tax Returns
« Reply #8 on: April 16, 2016, 08:04:51 PM »
Another poster child example of why we need a flat rate income tax system. What did Steve Forbes say a flat rate would have to be to fund the government? Wasn't it 15 percent? I could live with that.
I would be okay with that as long as they get rid of stuff like the earned income tax credit that end up being a money giveaway.  Everyone pays.

I would rather get rid of income tax all together, but that would require a lot of spending and regulatory cut backs.  None of that would happen without some big changes in our govt.
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Boomhauer

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Re: Sanders Tax Returns
« Reply #9 on: April 16, 2016, 08:08:40 PM »
Another poster child example of why we need a flat rate income tax system. What did Steve Forbes say a flat rate would have to be to fund the government? Wasn't it 15 percent? I could live with that.

Politicians can't buy votes easily under a system like that nor leverage class warfare as easily, which is exactly why it will always have zero traction.





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OTOH, there wouldn't be a tweeker left in Georgia...

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Hawkmoon

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Re: Sanders Tax Returns
« Reply #10 on: April 16, 2016, 10:43:08 PM »
Politicians can't buy votes easily under a system like that nor leverage class warfare as easily, which is exactly why it will always have zero traction.

Unfortunately, sad but true ...
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K Frame

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Re:
« Reply #11 on: April 17, 2016, 10:35:47 AM »
Supposedly he drives a 150k car.

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Boomhauer

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Re: Sanders Tax Returns
« Reply #12 on: April 17, 2016, 11:11:39 AM »
Real man of the people there...
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Holy hell. It's like giving a loaded gun to a chimpanzee...

Quote from: bluestarlizzard
the last thing you need is rabies. You're already angry enough as it is.

OTOH, there wouldn't be a tweeker left in Georgia...

Quote from: Balog
BLOOD FOR THE BLOOD GOD! SKULLS FOR THE SKULL THRONE! AND THROW SOME STEAK ON THE GRILL!

Ben

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Re:
« Reply #13 on: April 17, 2016, 11:27:32 AM »
Supposedly he drives a 150k car.

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And there's another point. Not just for Sanders, but for all of them with their "spread the wealth" crap. I'll believe them when they drive a Toyota Corolla (and not just for the photo op while keeping a couple of Mercedes in the garage), when they live in a tract home (or hey, a tiny house!), and fly regular cabin commercial, or better yet, telepresence to your meetings if you care so much about climate change.

Most of them seem to talk the talk for photo ops, while living like Al Gore behind the scenes.
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Perd Hapley

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Re: Sanders Tax Returns
« Reply #14 on: April 17, 2016, 02:15:18 PM »
Sander's comfortable, upper-class lifestyle is perfectly in line with his being a socialist politician. Or any Congressmen, of course.
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dogmush

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Re: Sanders Tax Returns
« Reply #15 on: April 17, 2016, 02:16:46 PM »
Sander's comfortable, upper-class lifestyle is perfectly in line with his being a socialist politician. Or any Congressmen, of course.

Or Politburo member.

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Re:
« Reply #16 on: April 18, 2016, 12:08:18 AM »
Supposedly he drives a 150k car.

That story has apparently been discredited.
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White Horseradish

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Re:
« Reply #17 on: April 18, 2016, 12:46:34 AM »


Supposedly he drives a 150k car.

I'm pretty sure like most politicians he doesn't actually drive himself. Probably gets driven around in a limo of some sort.

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K Frame

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Re: Sanders Tax Returns
« Reply #18 on: April 18, 2016, 07:54:05 AM »
That story has apparently been discredited.
That story has apparently been discredited.

Bummer.
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Hutch

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Re: Sanders Tax Returns
« Reply #19 on: April 18, 2016, 09:49:18 PM »
Just to howl with the pack, I recall seeing Bubba's and Al's returns dissected, along with many of their cronies.  Very little charitable giving was, like, you know, actual money, oh no.  More like household discards.  Very little of it went to, like, actual needy people.  No, it was given to universities, and liberal foundations and suchlike.  A fine platform of generosity to stand on and hector us knuckle-dragging, butt-scratching cousin-lovers about how uncaring, greedy, and selfish we are.
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Fly320s

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Re: Sanders Tax Returns
« Reply #20 on: April 18, 2016, 10:24:17 PM »
Are presidential applicants/candidates required to release their tax returns?
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Ben

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Re: Sanders Tax Returns
« Reply #21 on: April 18, 2016, 11:11:12 PM »
Are presidential applicants/candidates required to release their tax returns?

I don't believe so. Trump hasn't released his. Not sure if it's a requirement for sitting President and VP, but the records seem to be made public each year.
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Fly320s

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Re: Sanders Tax Returns
« Reply #22 on: April 18, 2016, 11:16:14 PM »
I don't believe so. Trump hasn't released his. Not sure if it's a requirement for sitting President and VP, but the records seem to be made public each year.

That is what I thought.  I'm surprised that any candidate releases his records.
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