{"id":12370,"date":"2012-09-19T13:15:22","date_gmt":"2012-09-19T18:15:22","guid":{"rendered":"http:\/\/ssgreenberg.name\/PoliticsBlog\/?p=12370"},"modified":"2012-09-19T13:19:51","modified_gmt":"2012-09-19T18:19:51","slug":"i-was-in-the-47","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2012\/09\/19\/i-was-in-the-47\/","title":{"rendered":"I Was In The 47%"},"content":{"rendered":"<p>Here is the video clip of Mitt Romney talking about the 47% who pay no income taxes.<\/p>\n<div style=\"text-align:center\">\n<iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"http:\/\/www.youtube.com\/embed\/XnB0NZzl5HA?rel=0\" style=\"border:thick ridge #009900\" allowfullscreen><\/iframe>\n<\/div>\n<pre>\r\n<\/pre>\n<p>Let me give a little tax advice to people, but first I must admit I am totally unqualified to be giving such advice to anyone.<\/p>\n<p>I am retired and have no income other than what my investments bring me plus Social Security and a miniscule pension.<\/p>\n<p>I have investments in taxable accounts and in tax deferred accounts.  After the stock market crash in about the 2008 to 2009 period, I decided to sell some of my investments in my taxable accounts in order to realize huge losses.  In my tax deferred accounts, I took free cash and invested in stocks to compensate for what I sold in the taxable accounts.  I did not invest in the same stocks so I would not run afoul of the wash rule. In effect these sales and purchases left my investment allocation at exactly the same place it was before making the trades.<\/p>\n<p>This let me shift some of my income into the tax deferred accounts and out of the taxable accounts while realizing tax deductible losses and not realizing non-deductible losses.<\/p>\n<p>For several years I paid zero income taxes at both the state and federal levels.<\/p>\n<p>Unfortunately President Obama has reigned over huge increases in the stock market.  It has gotten so bad that I eventually ran out of tax losses to compensate for my taxable earnings so that I have had to pay income taxes again.  I don&#8217;t know why, but somehow this situation does not make me angry at President Obama.  In fact it makes me want to vote for him again.<\/p>\n<p>I also don&#8217;t understand about being retired and having to live on a fixed income.  I invest in companies who pay increasing dividends every year.  So my income is also increasing every year.  I may even be getting bigger percentage raises now than when I was working.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here is the video clip of Mitt Romney talking about the 47% who pay no income taxes. Let me give a little tax advice to people, but first I must admit I am totally unqualified to be giving such advice to anyone. I am retired and have no income other than what my investments bring [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":{"0":"post-12370","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-stevegsposts","7":"czr-hentry"},"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/12370","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=12370"}],"version-history":[{"count":3,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/12370\/revisions"}],"predecessor-version":[{"id":12372,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/12370\/revisions\/12372"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=12370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=12370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=12370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}