My relative (just out of college) with a first job is making about $11,000 a year. The total Federal deductions on his salary is at 15% (10% to IRS and 5% FICA, Medicare). I think Romney makes a bit more than $11,000 per year, so I find his 13% rate obscene.
If you are single making between $34,501 - $83,600, your tax rate is calculated at 25%. People should be angry at the pittance Romney pays. Even Vice President hopeful Paul Ryan is paying at a 20% rate.
14 comments:
This from another blog:
"What this is all getting at is Romney is an extremely rich man who pays significantly less of a percentage of his income in taxes than millions of people who make far less than he does, and he still seems to think he deserves a cookie. I’m sick and tired of him and his wife whining about how people are so mean to them about their taxes."
I am not angry that Romney pays 13%.
I am pissed off that I pay over 30%!
Don't increase the rate he has to pay. DECREASE THE FRICKIN" RATE I HAVE TO PAY!
M
P.S. - Pittance?
His 13% for last year = more money than anyone one on this blog has paid in their lifetime.
That road you drove on today... He built that!
M
I think we should abolish the capital gains tax break. Whether you receive wages or interest and dividends of gain from the sale of assets, it all spends the same. Shouldn't all be taxed the same? Do that and you just about balance the budget.
Genius your relative would only have a $151 tax bill. This is only 1.37% not 15%.
Romney's tax bill is 13.90% because his income is from dividends and capital gains which are taxed at lower rates. He did not write these laws.
Actually he will end up paying $500 or thereabouts because the relative is at the poverty level, but that isn't the point.
last entry makes no sense.
How about this?
Obama Puppetmaster Warren Buffett Biggest Winner From Keystone Pipeline Rejection.
Warren Buffett's Effective Federal Income Tax Rate Was Just 11% in 2010.
Warren Buffet said it is wrong that he pays less taxes than his secretary. Mitt doesn't think it is wrong. And more important--Buffet IS NOT RUNNING FOR PRESIDENT.
Speaking of puppet masters, how about the Koch brothers pulling strings on Mitt Romney and Paul Ryan??
The key words used were mega-millionaires. Buffet does not pay less than his secretary, the percentage is less, he pays millions so Obama can issue stupid quotes that get spun into drivel.
Let's not let the facts get in the way of a good argument. Investment income (which is largely what Romney pays) is appropriately and necessarily taxed at a lower rate than wages to encourage investment. Investment represents a large portion of the capital companies raise to operate. Go ahead and raise the tax rate on investment income and then hold on so you don't get sucked out of the country with all the money that flees elsewhere to achieve a better ROI. Raising the investment income tax rate would have a deleterious and devastating effect on a Barry Obama economy already on life support. Did you hear the president recently say he knows how to fix the economy? If that's the case, what has he been waiting for the last 4 years, an opportune moment?
Here is the deal David when I call Mitt Mittens you can call Barrack your nickname. Otherwise use his real name!
Oh, Mitts quotes have been so learned. LMAO.
Trolls go away fair warning: you will be deleted this is war.
So sensitive!
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