cancel
Showing results for 
Search instead for 
Did you mean: 
BA Deere
Honored Advisor

Tax rate vs Tax bracket

http://www.usatoday.com/money/perfi/taxes/story/2012-01-19/romney-tax-rate/52682372/1   See all this hullabaloo over Romney`s taxes is just that.  The 15% CG is Romney`s "effective tax"  NOT his tax bracket.  And I`ll just throw this into the mix, half of America pays no federal income tax...this stuff needs to be brought to light.

3 Replies
Nebrfarmr
Veteran Advisor

Re: Tax rate vs Tax bracket

One more reason, in my mind, to have fairly low tax brackets. and eliminate all the special loopholes that you can get if you are well connected, or have good lawyers.  Simjplify the tax code, and make it into a simple, straightforward way for the government to collect revenue, and stop using it for special favors, class warfare, and social engineering.

kraft-t
Senior Advisor

Re: Tax rate vs Tax bracket

Hullabaloo? No one is claiming he is breaking the law. Not yet anyway. However, his stance is that he should pay even less or perhaps nothing as oppose to those stuck with 35% IN FEDERAL INCOME TAXES.

 

I didn't lobby for 15% capital gains rate. I didn't lobby for ending estate taxes? He does and the greedy **bleep** still wants lower taxes for HIM and people like HIM. 15 % is simply oppressive for guys like Mitt Romney but he won't get much sympathy from the guys that are paying 30% while striving to pay their bills.

 

Half of america that don't pay income taxes don't have enough top provide ofor their families and how many of them are kids?

hardnox604008
Advisor

Re: Tax rate vs Tax bracket

I think that anybody with half a brain (which I suppose would be some minority of prospective voters) knows that in his business he probably enjoys a highly preferential tax rate.

 

But I tthink his failure to be transparent on the matter effectively disqualifies him for consideration.