The ‘impartial’ news media calculated and publicized the % before deducting some $3 million he gave to charity . . . .the real number would be about 25%, and that is on income from $$ invested after-taxes.
The gobbledegoop about the 15% tax on capital gain being on top of already-taxed profits is more conservative/the rich spin. Everyone’s income has already been taxed at several levels. The point is simply that those earning their livelihood from the returns of wealth rather than labor are not paying their fair share.
Bruce, quit with the distortion about 50% of Americans pay no income tax. Income tax is a tiny proportion of Mitt’s earnings, and it’s a tiny portion of lower-income people’s total tax burden. Add in payroll taxes, sales taxes, state taxes, and property taxes before you try to throw numbers around.
petergrt over 12 years ago
The ‘impartial’ news media calculated and publicized the % before deducting some $3 million he gave to charity . . . .the real number would be about 25%, and that is on income from $$ invested after-taxes.
dannysixpack over 12 years ago
charity, HAH!
donations to organized religion being deductible, is merely government funding directly to religion.
in violation of the constitution and separation of church and state.
Gypsy8 over 12 years ago
The gobbledegoop about the 15% tax on capital gain being on top of already-taxed profits is more conservative/the rich spin. Everyone’s income has already been taxed at several levels. The point is simply that those earning their livelihood from the returns of wealth rather than labor are not paying their fair share.
ARodney over 12 years ago
Bruce, quit with the distortion about 50% of Americans pay no income tax. Income tax is a tiny proportion of Mitt’s earnings, and it’s a tiny portion of lower-income people’s total tax burden. Add in payroll taxes, sales taxes, state taxes, and property taxes before you try to throw numbers around.
dannysixpack over 12 years ago
@bruce,to be fair the top 10 percent should pay 90 percent of the taxes.
that’s level.