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Should the other 95% of us follow Romney's lead and form a corporation so we can pay 15% taxes?

I think the question covers it.

6 Answers

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  • Anonymous
    9 years ago
    Favorite Answer

    You don't know much about tax law. Do you?

  • Anonymous
    9 years ago

    Yes. I have often considered setting up a company (probably a LLC) for my investments, so I have all of the tax deductions that firms have.

    Also, the corporate tax rate is not 15%. The long term capital gains tax is 15%, which is the rate you would pay when you pull your money out of your 401K at retirement.

    The highest corporate rate is closer to 35%.

  • 9 years ago

    15% tax on what? The people? The corporate tax? Both is insanely high, eliminate the corp. tax completely.

  • 9 years ago

    Well, it certainly covers your lack of understanding of the most basic aspects of the federal income tax code as it applies to individuals and to corporations. And that's a lot - congratulations!

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  • ?
    Lv 6
    9 years ago

    Or you could donate a few million to Obama and pay no taxes, like GE. So you have a few choices.

  • Pixie
    Lv 7
    9 years ago

    Obama ruined your chances of that.

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