Mitt Romney's 14 percent tax bite: your guide to deciphering what's 'fair'

Oct 2, 2012 | Posted by: Mr_Bill | Full story: www.csmonitor.com

Mitt Romney paid taxes last year equal to about 14 percent of his taxable income. That's an effective tax rate much lower than the top marginal tax rate of 35 percent.

And as President Obama has publicized, his Republican challenger for the White House is not alone: Many people with incomes in the millions pay an effective rate much closer to Mr. Romney's 14 percent than to the official 35 percent top bracket.

Comments
1 - 13 of 13 Comments Last updated Oct 2, 2012

Since: Nov 08

Location hidden

#1 Oct 2, 2012
Another gubmint approved news(if you want to call it that. I call it propaganda)story ala MSNBC. Listen to Government sanctioned and laundered news and become an idiot like it's sponsor. I'm surprised young people would side with edited news from the gubmint. I thought that happened only in russia and china.
Gravediggers

United States

#2 Oct 2, 2012
Obama is a failed president

His Domestic policy is a failure.

His Foreign policy is a failure.

We have another dead border agent in AZ

We have a Mexican drug cartel member caught with Fast and Furious guns...thanks for giving those American weapons to the cartel-President Obama and AG Eric the chinless wonder Holder.

We have a Libyan ambassador asking for MORE security, it was denied and now he is DEAD!

NO INCREASED SECURITY in UNSTABLE COUNTRIES during 9/11 anniversary=murdered and sodomized amb.

Shame on President Obama and Hillary Clinton

Shame for not giving EXTRA PROTECTION

and then

Shame for trying to coverup and LIE about the FAILURE in Libya

and for the STUPID Rules of Engagement in Afghanistan that has resulted in American soldiers' deaths.

The Obama JOINT PATROLS with afghanis has been terminated because our obamalet'sbefriends policy didn't work and the afghanis turned their American given weapons on their patroling partners...OUR SOLDIERS!

FAILURE, FAILURE, FAILURE!

Don't send your children to the military when Obama is president. His foreign policies put your children at Xtreme risk with his RIDICULOUS ROE!

“Yeah, but...”

Since: Sep 11

MILKY WAY

#3 Oct 2, 2012
Many people with incomes in the millions pay an effective rate much closer to Mr. Romney's 14 percent than to the official 35 percent top bracket.

This is probably true. What else is true? Many people with incomes MUCH LOWER also pay an effective rate much closer to Mr. Romney's 14 percent than to the official 35 percent top bracket.
Makes sense

Dearborn, MI

#4 Oct 2, 2012
What's fair is the huge number of outstanding potential Republican candidates this year!

God is good!
Tony

Broken Arrow, OK

#5 Oct 2, 2012
The effective rate for the wealthy is less than half of the regular tax rate. Republicans have for years been writing special tax codes for their wealthy friends like Romney. Paul Ryan has been involved in writing special tax codes for the wealthy. Middle class loses and the wealthy gain at the middle class expense.
Makes sense

Dearborn, MI

#6 Oct 2, 2012
People act like Bishop Rmoney is out of touch.

&fe ature=relmfu

Since: Jul 07

Newport News, VA

#7 Oct 2, 2012
unfortunately, a lot of democrats don't understand the distinction between income tax and capital gains. a whole lot of seniors survive on capital gains.... they will cut off nose to spite the face: increase tax on wealthy, lose jobs for middle class.

"If a country wants investors to invest, it cannot tax their resulting capital gains the same as the incomes of people whose incomes were guaranteed in advance when they took the job.

It is not just a question of "fairness" to investors. Ultimately, it is investors who guarantee other people's incomes in a market economy, even though the investors' own incomes are by no means guaranteed. Reducing investors' incentives to take risks is reducing the jobs their investments are likely to create.

Business income is different from employees' income in another way. The profit that a business makes is first taxed as profit and the remainder is then taxed again as the incomes of people who receive dividends.

The biggest losers from politicians who jack up tax rates are likely to be people who are looking for jobs that will not be there, because investments will not be there to create the jobs."

Thomas Sowell
Makes sense

Dearborn, MI

#8 Oct 2, 2012
That's not all Dummycraps don't get.

“Election over; back to work!”

Since: Feb 07

Tampa, FL

#10 Oct 2, 2012
The low captial gains tax is designed to encourage investment by Americans- and Foreign companies- in America. We already have the HIGHEST CAPITAL GAINS TAX IN THE WORLD.

Raising it will kill investment in this country. For what- money that won't be used for anything but more spending?

Please...
Makes sense

Dearborn, MI

#11 Oct 2, 2012
Which candidate has the better tax plan???

Would you support a Reagan plan????

&fe ature=related
Makes sense

Dearborn, MI

#12 Oct 2, 2012
WWRT?

Who Would Reagan Tax????
questioner

Llano, TX

#13 Oct 2, 2012
fair
[fair] Show IPA adjective, fair·er, fair·est, adverb, fair·er, fair·est, noun, verb adjective
1. free from bias, dishonesty, or injustice: a fair decision; a fair judge.
2. legitimately sought, pursued, done, given, etc.; proper under the rules: a fair fight.
3. moderately large; ample: a fair income.
4. neither excellent nor poor; moderately or tolerably good: fair health.
5. marked by favoring conditions; likely; promising: in a fair way to succeed.

Five answers... all Yes?
see the light

El Paso, TX

#14 Oct 2, 2012
Obama's just cry'n cause he's too dam stupid to make that kind of money.

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