Mitt Romney's Taxes

Discussion in 'Accounting and Taxes' started by Ocean Archer, Aug 25, 2012.

  1. Ocean Archer

    Ocean Archer
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    So who else is a little peeved about Mitt Romney only paying 13% on his $23M income?

    I need to find an accountant who can reduce my tax liability from 40% to 13%!

    Republican arguments: 13% of $23M per year is still a lot of millions of dollars he's contributed to taxes, more than most Americans will pay in their lifetimes (that's great, but $23M/year puts him in the highest income bracket, so he should be paying 40% like me). He's driving on the same roads as everyone else, so why should he have to pay more? (because the law says so). He already paid taxes on his original earnings. This is just income from his investments. (Income is income. If you make enough money to put yourself in the top tax bracket, you should be paying the appropriate percentage).

    Is it legal for Romney to only pay 13%? yes, because our tax laws have different rates for income that comes from 'investments'. Is it fair? debatable. Does it hurt his image? absolutely.
     
  2. Jason520

    Jason520
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    Really doesn't like him & his polices.
     

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