View Poll Results: Do you have a higher effective tax rate than mitt romney?

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  • Yes

    27 60.00%
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    18 40.00%
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Thread: Do you have a higher effective tax rate than mitt romney

  1. #231
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    JohnWOlin's Avatar
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    Re: Do you have a higher effective tax rate than mitt romney

    I pay about the same as he does now. When I wasn't married it was more. Someday, I will conjure my own ways to **** the system as well.
    "We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy." -Reagan

  2. #232
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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by cpwill View Post
    well I don't know about your buttocks, but the fact is that payroll and FIT are indeed different taxes. not really sure why that is a shocker to you.

    that is not necessarily true, however, color me curious - do you consider unemployment to be a tax you pay?
    I understand, the names have been changed to protect the guilty. It happens all the time in accounting - ask any tax lawyer.

    In 40 years of employment I've never had a paycheck that didn't have FICA (under that label or some other) taken out of my paycheck, nor do I know of anyone else who has never had it deducted. But, I'm not saying that applies to every single job in America. A few industries have some odd rules.

    I don't count my employer's contribution to FICA as part of my Fed taxes, either.
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  3. #233
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    Kandahar's Avatar
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    Re: Do you have a higher effective tax rate than mitt romney

    Quote Originally Posted by MaggieD View Post
    Use this calculator to figure out your own -- Marginal Tax Rate Calculator

    Romney's release of his income tax forms should ring the death knell for the legal tax loopholes that allow someone who earns tens of millions of dollars to pay less of a % than someone single earning $50,000. That's just plain wrong.
    Looks like I pay about 17.2% in income taxes according to that calculator, so I pay more than Romney. Although everyone should bear in mind that this only calculates INCOME taxes...when you also include payroll taxes, it skews effective rates even more in favor of the wealthy.
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