General Discussion
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(149,561 posts)99th_Monkey
(19,326 posts)All Mitt has to do to "earn" his millions is to sit on his sorry ass,
except when he's running around firing people, which he loves to
do.
Earth_First
(14,910 posts)Hutzpa
(11,461 posts)orpupilofnature57
(15,472 posts)liberal N proud
(60,334 posts)Kennah
(14,240 posts)If anyone seriously believes there is nothing wrong with the situation that allows this to be, then they must be part of the 1 percent or a seriously deluded Fox News viewer who plans to vote Rmoney.
ErikJ
(6,335 posts)Fed income tax? Fed Payroll tax, state sales taxes ? 15.5% what?
obxhead
(8,434 posts)Add in state, property, sales, and gas taxes (to name a few) and the effective tax rate for the "middle class" is far higher than 15.5%.
Dont_Bogart_the_Pretzel
(3,273 posts)noamnety
(20,234 posts)Tennessee Gal
(6,160 posts)That means that Mitt can make many bundles of big bucks without working at all since his income is from investments. He doesn't pay as high a rate as middle-class Americans because he can afford highly paid tax attorneys and accountants to find all the tax avoidance loopholes he needs and to hide his income in foreign locations.
What kind of man thinks it is okay to run for President while investing money in foreign countries to avoid paying taxes to the United States Treasury?
JoeyT
(6,785 posts)Thanks for explaining it.
I was wondering because I've never paid 15.5% taxes in my life. Not that I want my taxes lower, I want that bastard that's paying 14% to pay more.
I suspect his actual tax rate is far lower than 14%. It's just 14% on the stuff he hasn't hidden.
calimary
(81,189 posts)GOBAMA.
MADem
(135,425 posts)yurbud
(39,405 posts)hfojvt
(37,573 posts)my own data (from IRS stats) says that taxpayers making less than $67,280 in AGI are only paying an income tax rate (on average) of 9.29%. Even those making as much as $113, 799 are only paying an income tax rate (on average) of 12.44%. http://journals.democraticunderground.com/hfojvt/169
So I'd like to know where the 15.5% comes from.