Journal Express, Knoxville, IA

Opinion

October 4, 2012

Another View

Ashamed, Mr. Romney?

Knoxville —  

I have a theory why Mitt Romney, unlike his father and most elected leaders, has been unwilling to share all tax returns.  My son, Steve, an investor himself, inspired me. We were trading email stories about Romney’s taxes.  Steve concluded, “It’s not illegal, the problem is it’s legal!”

I thought about that.  Yes, we’re told over and over how our tax system favors the rich.  The Occupy Movement proclaims it, and Warren Buffet, the world’s second richest man, announced he paid a lower percent of income in taxes than his secretary.  To those of us who believe that a progressive tax system is the most fair and best for our country, that is terrible news.

 

Then I remembered a personal experience in how the “rich” get favored treatment.  Once upon a time, with no planning, my husband and I stumbled a little closer to “rich.”   Here’s how:  We lived in the ordinary little house we owned on a nice hill in Walnut Creek, Calif.  Purchased in 1975, this home became a good rental property when we moved away.  We kept it only because we planned to move back one day.    

 

But years passed, and we didn’t move back; we settled in Iowa.  So we decided to sell the hillside house – all 1,300 square feet.  The renters moved out and we groomed the place for sale.  It was a “hot” market in 2001.  The little house sold for almost eight times what we’d paid in 1975!  Sure there were fix-up expenses, realtors’ fees, etc., so maybe we netted closer to seven times what we’d paid.  We learned that’s called CAPITAL GAINS because it was “investment” property.   Net sale income was many times over what we totaled each year in “ordinary income” so we would owe a lot of taxes.  Right? 

Text Only
Opinion
  • Another View Charlotte mug Another View

    Last week on TV – remember?  Pictures of the D-Day landing when Allied troops waded through cold waves, June 6, 1944, to face Nazi guns and land on the beaches of Normandy, France.  

    June 18, 2014 1 Photo

  • In the House of Wood

    I sometimes worry about what little regard is shown for human life these days. 

    June 18, 2014

  • Heisman winner's legacy wasn't about football
    If you've heard of Nile Kinnick, you’ve never forgotten his story. If you haven't, it’s a relatively short one with a sad ending.
     

    June 5, 2014

  • The Rules of the Road By Jill Pertler I do not consider myself an excellent driver. I am good, or maybe just okay - around a B-minus to a C-plus if I were giving out grades. I am not great at maneuvering into tight parking spaces or knowing when it is my turn at a four-wa

    March 21, 2014

  • Steve mug Creativity rules! I've noticed as a married man that there are times in our marriages when it is just nice to be right. Take for instance Monday night. By the time I got home from the council meeting, I was pretty hungry. I didn't grab anything to eat before my evenin

    March 21, 2014 1 Photo

  • Frankford mug Acute Temporary Comfort Rejection Syndrome By Phillip Frankford Acute Temporary Comfort Rejection Syndrome

    March 21, 2014 2 Photos

  • Shivvers pic 21st century overwhelm, beginning with shampoo I was in a hurry and needed only one more item at the grocery store. Shampoo. I wanted shampoo to wash my hair. But I found a hazard course - and couldn't remember how I got through the last time. What should I do? Would it be simple "anti-itch liqui

    March 21, 2014 1 Photo

  • Next time ... To the Editor: While surfing my Facebook page, I came across this message: "I Shall Continue To Do What I think Is Right Whether Anybody Likes It Or Not." -Harry S. Truman. After reading this quote, I decided to tell my experience. I was walking to m

    March 21, 2014

  • Protecting Iowa's children A topic that most Iowans prefer not to acknowledge nor discuss is human trafficking. However, it is a serious matter in our society that we can no longer afford to ignore. With the I-80 and I-35 corridors that crisscross our state - and the I-29 corr

    March 6, 2014

  • Letter: Disagrees with Shivvers To the Editor: I read, with interest, Ms. Shivvers' comments in her opinion piece "Another View-Breaking Bad in Iowa" in the Feb. 14, 2014, edition of the Knoxville Journal-Express. It is the first time I have heard today's agriculture compared to th

    March 6, 2014

Features
AP Video
Denver Celebrates Pot at the County Fair Escaping Email: Inspired Vision or Pipe Dream? Obama Calls on Hamas to Release Israeli Soldier Hispanic Caucus Slams GOP for Border Bill Shifts Obama: GOP Not Even Trying to Solve Immigration Emory Prepares to Treat American Ebola Cases US Employers Add 209K Jobs, Rate 6.2 Pct House GOP Optimistic About New Border Bill Four Rescued From Crashed Plane Clinton Before 9-11: Could Have Killed Bin Laden Couple Channel Grief Into Soldiers' Retreat WWI Aviation Still Alive at Aerodrome in NY Raw: Woman Who Faced Death Over Faith in N.H. Russell Simmons, LL Cool J Visit Youth at Jail Raw: Obama Gets Hug From Special Olympian US, UN Announce Deal on Gaza Cease-Fire Despite Moratorium, Detroit Water Worries Remain Faith Leaders Arrested at DC Deportation Protest Family Dispute Cripples Northeast Grocery Chain CDC Warns Travelers Amid Ebola Outbreak
Facebook
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Poll

Upon completion and reopening of Third Street, should the City of Knoxville wait to start the next stage of the Streetscape and Infrastructure project until 2015?

Yes
No
     View Results