teamosil
DP Veteran
- Joined
- Oct 17, 2009
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Re: Romney's tax rate is only half as high as the middle class pays
False. That is only your FEDERAL effective tax rate. 27% is the total effective tax burden- state and federal. That's what Romney is citing too, but of course since he's super rich he essentially pays no state taxes. State taxes are almost all, or in some states all, regressive.
Not sure what significance you think that has. Yeah, most rich people pay the ultra reduced rates. That's my point.
Also false. Bain Capital- the source of most of his income- is a partnership, not a corporation. Partnerships do not pay taxes at all.
actually, as of 2009, it was 11.06%. And that's just for those with a "positive liability". I think you have confused "effective" with "nominal".
False. That is only your FEDERAL effective tax rate. 27% is the total effective tax burden- state and federal. That's what Romney is citing too, but of course since he's super rich he essentially pays no state taxes. State taxes are almost all, or in some states all, regressive.
precisely. because they are not stupid - instead they are dynamic creatures that respond to incentives. When you increase marginal rates, you accordingly increase incentives to alter compensation in such a manner as to decrease exposure. Even the President takes advantage of the tax credits and deductions that are available to him, even as he derides others for doing so.
Not sure what significance you think that has. Yeah, most rich people pay the ultra reduced rates. That's my point.
However, all of Romney's income was taxed before he got it, often at the nominal 35%; so I'm not terribly worried that he's not paying his fair share of supporting the government.
Also false. Bain Capital- the source of most of his income- is a partnership, not a corporation. Partnerships do not pay taxes at all.