For all of Newt’s attacks on Mitt’s low tax rate, under Newt’s tax plan Romney’s taxes would go down to nearly zero, since investment income would become tax free. (Mitt would still have to pay income and payroll taxes on his very small $370,000 income from giving speeches, though.)
For all of Newt’s attacks on Mitt’s low tax rate, under Newt’s tax plan Romney’s taxes would go down to nearly zero, since investment income would become tax free. (Mitt would still have to pay income and payroll taxes on his very small $370,000 income from giving speeches, though.)