“Nearly half of working Americans pay No income tax 0%.”
To reach “nearly half”, you have to include those Americans who aren’t working. Of the rest, most make less than about $20,000 per year. You wanna trade your tax rate for their income?
He lobbied to keep his tax rate artificially low so, It’s great that he’s following the law but, not so great that he lobbied against it changing so he could pay at the same rate as working people.
This is why every good liberal should LOVE the Fair Tax. You get taxed when you spend, not when you earn. Wanna soak the rich? How can you separate the way they earn income from anyone else? Go after income and CEO’s will pay themselves $1 a year and millions in stock options. Go after investments and you are taxing the snot out of grandma’s pension as well as the trust fund babies. Rich people SPEND. It is kind of the whole point of being rich. The poor spend a lot less and under the Fair Tax they get an automatic tax credit on the necessities. Plus, a lot less red tape, more efficient government, and the same revenue coming in. The only downside is that without the pile of tax code we currently live under if you are a lobbyist you won’t have any tax breaks left to lobby for and if you are a politician you will have to come up with something new to demagogue.
Mitt proudly claims he inherited no wealth from his father. Even if that’s factually correct, as a child of George Romney, he was born with enormous advantages that the vast majority of Americans can only imagine.
To get anywhere near that “nearly half” number they include children, retired people, disabled people, stay-at-home mothers as well as the unemployed, under-employed and a few exploited low wage workers. I say only a few because it really doesn’t take much to get over the threshold for income tax.
Simon_Jester over 12 years ago
And he’s gonna STAY unemployed, too.
grapefroot over 12 years ago
It isn’t exactly easy to live on $50K a day
Heavy B over 12 years ago
But NOOOOOOOO, its the 47% who can’t afford to pay income taxes that need the tax increase
fritzoid Premium Member over 12 years ago
“Nearly half of working Americans pay No income tax 0%.”
To reach “nearly half”, you have to include those Americans who aren’t working. Of the rest, most make less than about $20,000 per year. You wanna trade your tax rate for their income?
pirate227 over 12 years ago
He lobbied to keep his tax rate artificially low so, It’s great that he’s following the law but, not so great that he lobbied against it changing so he could pay at the same rate as working people.
sbwinn over 12 years ago
This is why every good liberal should LOVE the Fair Tax. You get taxed when you spend, not when you earn. Wanna soak the rich? How can you separate the way they earn income from anyone else? Go after income and CEO’s will pay themselves $1 a year and millions in stock options. Go after investments and you are taxing the snot out of grandma’s pension as well as the trust fund babies. Rich people SPEND. It is kind of the whole point of being rich. The poor spend a lot less and under the Fair Tax they get an automatic tax credit on the necessities. Plus, a lot less red tape, more efficient government, and the same revenue coming in. The only downside is that without the pile of tax code we currently live under if you are a lobbyist you won’t have any tax breaks left to lobby for and if you are a politician you will have to come up with something new to demagogue.
Dtroutma over 12 years ago
Ah, if “unemployment” just paid $58,000 a DAY, like MItt’s. Yup, he “understands the streets”- Rodeo Drive.
MsPip over 12 years ago
Because they’re too poor. And they pay state taxes, etc. Use your head and don’t just swallow the BS the rich hand out.
Chuck Norton over 12 years ago
Mitt proudly claims he inherited no wealth from his father. Even if that’s factually correct, as a child of George Romney, he was born with enormous advantages that the vast majority of Americans can only imagine.
Yontrop over 12 years ago
To get anywhere near that “nearly half” number they include children, retired people, disabled people, stay-at-home mothers as well as the unemployed, under-employed and a few exploited low wage workers. I say only a few because it really doesn’t take much to get over the threshold for income tax.