R-Money gets booed by 2100+ Utah Republican Delegates

[bambino]

Originally Posted by Tiny

Well, I believe he's unignorant, spineful and incorruptible.

Yeah, he’s a real paragon of virtue:


https://www.rollingstone.com/politic...al-183291/amp/

[Tiny]

Originally Posted by bambino

Yeah, he’s a real paragon of virtue:


https://www.rollingstone.com/politic...al-183291/amp/

That's what happens when you have a tax system that rewards debt and punishes equity: opportunities for private equity, like Romney's employer.

Say you get a group of people together and they each put money into starting a new corporation or buying out an existing one. The corporation starts making money. Let's say $1 million a year net income before tax. Back when Romney was in private equity, the average tax rate, federal + state, on corporate profits was 40%. So $400,000 of the $1 million goes into the coffers of government.

The corporation has $600,000 left over after it pays its tax. Now the typical U.S. corporation will reinvest around 2/3rds of this in the the business. Companies funded by venture capital will reinvest 100%. But private equity firms, like Romney's, often concentrate on mature businesses with poor prospects for growth, so they pay out hefty dividends, that their shareholders mostly recycle into other investments.

Anyway, say the entire $600,000 is paid out in dividends. Back in Romney's days, the tax rate, federal plus state, on dividends was around 45%. So the federal government ends up with another $270,000 in its pocket. Add it all up, and of the $1 million income, the government has pocketed $670,000, or 67%.

Now, say instead of putting up the money to borrow the corporation, the owners instead borrow the money. Instead of paying taxes to the government, they pay interest to the bank, which is tax deductible. For every dollar in earnings used to pay interest, the corporation gets a $0.40 tax deduction. They don't pocket dividends, but when they go to sell the business, assuming it hasn't gone bankrupt, they'll make money.

So was this good for American business? I'd argue, NO. Companies got overleveraged and went out of business, because of the way the tax code worked. People working for businesses that would have survived without debt lost their jobs.

Our most recent Republican president, about whom I've resolved not to post for a while, argued that his contributions to politicians and his payments to lobbyists, far from making him a creature of the swamp, made him an ideal candidate to clean up the swamp. You could argue the same about Romney. He was just doing his job in accordance with the rules of the game, a game he played very well. And a game whose rules badly needed changing.

I'll point out that the Bush tax cuts and the Ryan/Unnamed Former President tax cuts to a large degree fixed the fucked up system we had, by lowering the federal tax on dividends initially to 15% and by lowering the federal corporate tax rate to 21%. I'll also point out that Biden and the Progressive Democrats want to undo this, and go right back to the lunatic system that existed when Romney was in private equity.

[bambino]

Originally Posted by Tiny

That's what happens when you have a tax system that rewards debt and punishes equity: opportunities for private equity, like Romney's employer.

Say you get a group of people together and they each put money into starting a new corporation or buying out an existing one. The corporation starts making money. Let's say $1 million a year net income before tax. Back when Romney was in private equity, the average tax rate, federal + state, on corporate profits was 40%. So $400,000 of the $1 million goes into the coffers of government.

The corporation has $600,000 left over after it pays its tax. Now the typical U.S. corporation will reinvest around 2/3rds of this in the the business. Companies funded by venture capital will reinvest 100%. But private equity firms, like Romney's, often concentrate on mature businesses with poor prospects for growth, so they pay out hefty dividends, that their shareholders mostly recycle into other investments.

Anyway, say the entire $600,000 is paid out in dividends. Back in Romney's days, the tax rate, federal plus state, on dividends was around 45%. So the federal government ends up with another $270,000 in its pocket. Add it all up, and of the $1 million income, the government has pocketed $670,000, or 67%.

Now, say instead of putting up the money to borrow the corporation, the owners instead borrow the money. Instead of paying taxes to the government, they pay interest to the bank, which is tax deductible. For every dollar in earnings used to pay interest, the corporation gets a $0.40 tax deduction. They don't pocket dividends, but when they go to sell the business, assuming it hasn't gone bankrupt, they'll make money.

So was this good for American business? I'd argue, NO. Companies got overleveraged and went out of business, because of the way the tax code worked.

Our most recent Republican president, about whom I've resolved not to post for a while, argued that his contributions to politicians and his payments to lobbyists, far from making him a creature of the swamp, made him an ideal candidate to clean up the swamp. You could argue the same about Romney. He was just doing his job in accordance with the rules of the game, a game he played very well. And a game whose rules badly needed changing.

I'll point out that the Bush tax cuts and the Ryan/Unnamed Former President tax cuts to a large degree fixed the fucked up system we had, by lowering the federal tax on dividends initially to 15% and by lowering the federal corporate tax rate to 21%. I'll also point out that Biden and the Progressive Democrats want to undo this, and go right back to the lunatic system that existed when Romney was in private equity.

What type of human being does this to a dog???????

https://www.washingtonpost.com/polit...xCS_story.html


Fuck Romney

[bambino]

Originally Posted by Tiny

That's what happens when you have a tax system that rewards debt and punishes equity: opportunities for private equity, like Romney's employer.

Say you get a group of people together and they each put money into starting a new corporation or buying out an existing one. The corporation starts making money. Let's say $1 million a year net income before tax. Back when Romney was in private equity, the average tax rate, federal + state, on corporate profits was 40%. So $400,000 of the $1 million goes into the coffers of government.

The corporation has $600,000 left over after it pays its tax. Now the typical U.S. corporation will reinvest around 2/3rds of this in the the business. Companies funded by venture capital will reinvest 100%. But private equity firms, like Romney's, often concentrate on mature businesses with poor prospects for growth, so they pay out hefty dividends, that their shareholders mostly recycle into other investments.

Anyway, say the entire $600,000 is paid out in dividends. Back in Romney's days, the tax rate, federal plus state, on dividends was around 45%. So the federal government ends up with another $270,000 in its pocket. Add it all up, and of the $1 million income, the government has pocketed $670,000, or 67%.

Now, say instead of putting up the money to borrow the corporation, the owners instead borrow the money. Instead of paying taxes to the government, they pay interest to the bank, which is tax deductible. For every dollar in earnings used to pay interest, the corporation gets a $0.40 tax deduction. They don't pocket dividends, but when they go to sell the business, assuming it hasn't gone bankrupt, they'll make money.

So was this good for American business? I'd argue, NO. Companies got overleveraged and went out of business, because of the way the tax code worked.

Our most recent Republican president, about whom I've resolved not to post for a while, argued that his contributions to politicians and his payments to lobbyists, far from making him a creature of the swamp, made him an ideal candidate to clean up the swamp. You could argue the same about Romney. He was just doing his job in accordance with the rules of the game, a game he played very well. And a game whose rules badly needed changing.

I'll point out that the Bush tax cuts and the Ryan/Unnamed Former President tax cuts to a large degree fixed the fucked up system we had, by lowering the federal tax on dividends initially to 15% and by lowering the federal corporate tax rate to 21%. I'll also point out that Biden and the Progressive Democrats want to undo this, and go right back to the lunatic system that existed when Romney was in private equity.

What type of human being does that to a dog?


https://www.washingtonpost.com/polit...xCS_story.html

Fuck Romney

[Tiny]

Originally Posted by bambino

What type of human being does this to a dog???????
https://www.washingtonpost.com/polit...xCS_story.html
Fuck Romney

His dog? You're grasping at straws now.

[bambino]

MAY 3, 2021
PALM BEACH, FL

Statement by Donald J. Trump, 45th President of the United States of America.

So nice to see RINO Mitt Romney booed off the stage at the Utah Republican State Convention. They are among the earliest to have figured this guy out, a stone cold loser!

###

[bambino]

Originally Posted by Tiny

His dog? You're grasping at straws now.

Did you read the story? It was his fucking dog. Was the WAPO grasping straws?

[Tiny]

Originally Posted by bambino

Did you read the story? It was his fucking dog. Was the WAPO grasping straws?

Yeah, another WAPO hit piece on a Republican. It sounds like his dog pissed on his car. As someone who spent a lot of time on a farm when I was growing up, this sounds like something that should be coming from some big city wacko animal rights activist, not you. Please provide sources other than the Rolling Stone and the Washington Post when bashing Republicans.

[reddog1951]

Maybe should be a new thread, but what is needed is some NEW BLOOD from BOTH PARTIES. As stated, I'm independent...we have Biden for 4 years; get used to it and get over it. But think about the future and what is good for the country collectively...not necessarily YOU.

Personally, Harris, NO; Hawley, NO. Who is the shining star that can bring the country back to USA, not US...I don't know. But whenever he/she/ or it emerges, if fully in support. This partisan bullshit without thought beyond dogma is killing the USA for all of US.

[bambino]

Originally Posted by Tiny

Yeah, another WAPO hit piece on a Republican. It sounds like his dog pissed on his car. As someone who spent a lot of time on a farm when I was growing up, this sounds like something that should be coming from some big city wacko animal rights activist, not you.

I could post other links, but I’m not going to waste my time. He put the dog into a container, strapped it on the roof and drove twelve hours. It’s true.

I guess you’ll deny Romney’s own words:


https://www.latimes.com/nation/la-xp...html?_amp=true

[Tiny]

Originally Posted by reddog1951

Who is the shining star that can bring the country back to USA, not US...I don't know. But whenever he/she/ or it emerges, if fully in support.

Somebody like Tim Scott or Paul Ryan would be good in my book. And a Joe Manchin or Mark Warner would be head and shoulders above the 2020 Democratic presidential primary candidates IMHO. But you have to appeal to the extremes in your party to get the nomination.

[reddog1951]

"But you have to appeal to the extremes in your party to get the nomination."

No intent to fight or get in your face here, but that's the problem now in a nutshell. Metaphorically, we all have to eat. I WILL NOT try to prove it (exercise in futility and metaphorical) but there should be enough to go around. Why can't either side wake (not woke) up and foster a platform that is good for USA as opposed to US?

[matchingmole]

Originally Posted by bambino

What type of human being does that to a dog?


https://www.washingtonpost.com/polit...xCS_story.html

Fuck Romney

i

[bambino]

https://rumble.com/vgi1z5-mitt-romne...my-father.html

Romney’s done. He’ll never win another election. But he only ran for the Senate to fuck with Trump. He failed there too.