JayB Posted January 27, 2012 Share Posted January 27, 2012 One more time: Our taxes are OK Be honest: Do you pay more than Mitt? [No - and neither does Buffet's Secretary] The release of Mitt Romney's tax returns — the news he paid 13.9 percent of his earnings in income taxes — has rocketed one of my pet crusades back to the top of the charts. Which is: We are clueless how low our taxes really are. Apparently many of my brethren in the media must pay more in taxes than Mitt. A lot more. Because his taxes were described in most headlines this week as "low," and his effective tax rate as "only" 13.9 percent. Some portrayed his burden as "startlingly light" (New York Times' Paul Krugman.) The tax man must also gouge Democrats much deeper than Mitt. Because they responded as if Romney — who paid $3 million on earnings of $21.7 million in 2010 — is a freeloader. "Mitt Romney used every loophole in the book available to the wealthiest and large corporations to avoid paying his fair share," said the Democratic National Committee. "The president believes that it is not fair — inherently not fair — that millionaires and billionaires pay at a lower rate than average Americans who are struggling to get by," said President Obama's press secretary. Even some Republicans ribbed Romney. Newt Gingrich offered to name his 15 percent flat-tax plan the Mitt Tax. So that "all Americans could then pay the rate Romney paid. I think that's terrific." I must be some sort of slacker, because I have to admit: I pay less than Mitt. I'm not going to release my tax returns until I make my run for president, so for now you'll just have to believe me. But I do routinely pay a lower effective federal tax rate than the lowly Mitt But here's the thing: So, most likely, do you. Because according to the IRS, more than 90 percent of Americans pay at a lower effective rate than Mitt. http://seattletimes.nwsource.com/html/dannywestneat/2017324261_danny25.html Quote Link to comment Share on other sites More sharing options...
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