But hey, the debt for tax breaks will trickle down to the middle class, so it all works out, right?
Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb
here are the actual effective tax rates
GI. Avg tax % of AGI
the top one percent start around 375K a year. that means those paying around a 20% effective tax rate
those making between a half million and a million a year are paying about 24% and the group with the highest average effective tax rate are people in my group-those making 1-10 Million a year. Once you get over 10 million but below 110 Million they are down to about the same rate as people in the bottom of the top one percent. its those over 110 million are dropping down to the same average rate as those in the 275K range
so the crap that the average top one percent tax payer pays less than the middle class is complete and utter crap and even those making over 110 Million a year are still paying more than people making up to 200K a year
(those are 2008 figures)
If I was to speculate I would say that Romney got tens of millions of dollars in value from TARP, insofar as his money is tied up in investments which would have lost a substantial percentage of their value if the government had not propped up the banks, and thus the markets. It may be that he got more value from that one action than he will EVER pay in.