Mr. Romney paid 14% tax rate on the last $45 million earned from his investments. Some people will focus on the low rate while others focus on the income.
In a ten year period, the average income earner will gross less than one-half a million dollars. In contrast, Mr. Romney will earn more than 400 times that amount during the same period of time. This average earner will pay 28% or more on their income. In contrast, Mr. Romney will pay approximately 15%.
This is legal. This is how the tax code is written.
You have options: (1) invest (2) argue for a change in the tax code, or (3) campaign and vote for someone who will change the tax code.
In a ten year period, the average income earner will gross less than one-half a million dollars. In contrast, Mr. Romney will earn more than 400 times that amount during the same period of time. This average earner will pay 28% or more on their income. In contrast, Mr. Romney will pay approximately 15%.
This is legal. This is how the tax code is written.
You have options: (1) invest (2) argue for a change in the tax code, or (3) campaign and vote for someone who will change the tax code.