teamosil
DP Veteran
- Joined
- Oct 17, 2009
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- Political Leaning
- Liberal
The median effective tax rate in the US is 27%. That's how much the typical American pays between state and federal taxes. Megamillionaire robber baron Mitt Romney, however, only pays 15%.
That is not uncommon at all for the superrich. They do not pay many of the taxes middle class people pay at all- no FICA, no unemployment, no disability, etc. And many of the taxes that apply to a large portion of middle class's income- sales, property, vehicle, etc- apply to only a very tiny percentage of the income of someone as wealthy as Romney, so in effect, they don't really pay those either.
But, you might think, we have a progressive income tax system. Certainly the super rich get hit up on that one. But, nope, they don't. The progressive income tax system really only affects up to upper middle class people. People in really high paying jobs pay 35%, in addition to the other taxes listed above. But once you break past that into the super rich, they don't get paid in wages, they get paid with equity, and equity is only taxed at a measley 15%. So, in addition to being excused from most types of taxes, they get a 20% reduction in their tax break because they don't have to work to make their income.
Romney reveals he pays about 15% in taxes - CNN.com
The median effective tax rate in the US is 27%. That's how much the typical American pays between state and federal taxes. Megamillionaire robber baron Mitt Romney, however, only pays 15%.
That is not uncommon at all for the superrich. They do not pay many of the taxes middle class people pay at all- no FICA, no unemployment, no disability, etc. And many of the taxes that apply to a large portion of middle class's income- sales, property, vehicle, etc- apply to only a very tiny percentage of the income of someone as wealthy as Romney, so in effect, they don't really pay those either.
But, you might think, we have a progressive income tax system. Certainly the super rich get hit up on that one. But, nope, they don't. The progressive income tax system really only affects up to upper middle class people. People in really high paying jobs pay 35%, in addition to the other taxes listed above. But once you break past that into the super rich, they don't get paid in wages, they get paid with equity, and equity is only taxed at a measley 15%. So, in addition to being excused from most types of taxes, they get a 20% reduction in their tax break because they don't have to work to make their income.
Romney reveals he pays about 15% in taxes - CNN.com
The median effective tax rate in the US is 27%. That's how much the typical American pays between state and federal taxes. Megamillionaire robber baron Mitt Romney, however, only pays 15%.
That is not uncommon at all for the superrich. They do not pay many of the taxes middle class people pay at all- no FICA, no unemployment, no disability, etc. And many of the taxes that apply to a large portion of middle class's income- sales, property, vehicle, etc- apply to only a very tiny percentage of the income of someone as wealthy as Romney, so in effect, they don't really pay those either.
But, you might think, we have a progressive income tax system. Certainly the super rich get hit up on that one. But, nope, they don't. The progressive income tax system really only affects up to upper middle class people. People in really high paying jobs pay 35%, in addition to the other taxes listed above. But once you break past that into the super rich, they don't get paid in wages, they get paid with equity, and equity is only taxed at a measley 15%. So, in addition to being excused from most types of taxes, they get a 20% reduction in their tax break because they don't have to work to make their income.
Romney reveals he pays about 15% in taxes - CNN.com
The median effective tax rate in the US is 27%. That's how much the typical American pays between state and federal taxes. Megamillionaire robber baron Mitt Romney, however, only pays 15%.
That is not uncommon at all for the superrich. They do not pay many of the taxes middle class people pay at all- no FICA, no unemployment, no disability, etc. And many of the taxes that apply to a large portion of middle class's income- sales, property, vehicle, etc- apply to only a very tiny percentage of the income of someone as wealthy as Romney, so in effect, they don't really pay those either.
But, you might think, we have a progressive income tax system. Certainly the super rich get hit up on that one. But, nope, they don't. The progressive income tax system really only affects up to upper middle class people. People in really high paying jobs pay 35%, in addition to the other taxes listed above. But once you break past that into the super rich, they don't get paid in wages, they get paid with equity, and equity is only taxed at a measley 15%. So, in addition to being excused from most types of taxes, they get a 20% reduction in their tax break because they don't have to work to make their income.
Romney reveals he pays about 15% in taxes - CNN.com
The median effective tax rate in the US is 27%. That's how much the typical American pays between state and federal taxes. Megamillionaire robber baron Mitt Romney, however, only pays 15%.
That is not uncommon at all for the superrich. They do not pay many of the taxes middle class people pay at all- no FICA, no unemployment, no disability, etc. And many of the taxes that apply to a large portion of middle class's income- sales, property, vehicle, etc- apply to only a very tiny percentage of the income of someone as wealthy as Romney, so in effect, they don't really pay those either.
But, you might think, we have a progressive income tax system. Certainly the super rich get hit up on that one. But, nope, they don't. The progressive income tax system really only affects up to upper middle class people. People in really high paying jobs pay 35%, in addition to the other taxes listed above. But once you break past that into the super rich, they don't get paid in wages, they get paid with equity, and equity is only taxed at a measley 15%. So, in addition to being excused from most types of taxes, they get a 20% reduction in their tax break because they don't have to work to make their income.
Romney reveals he pays about 15% in taxes - CNN.com
More Class warfare....YAWN!
They only call it class warfare when we fight back.
LOL ranting on a message board is really terrifying to the top one percent
Didn't say that.
didn't need to-it was obvious
Nope. It's called a metaphor. He said "class warfare" so I stayed within the metaphor to respond. See how that works?
The median effective tax rate in the US is 27%.
But, you might think, we have a progressive income tax system. Certainly the super rich get hit up on that one. But, nope, they don't. The progressive income tax system really only affects up to upper middle class people. People in really high paying jobs pay 35%, in addition to the other taxes listed above. But once you break past that into the super rich, they don't get paid in wages, they get paid with equity, and equity is only taxed at a measley 15%
'They only call it class warfare when we fight back.
Not true. If he earns a salary (which he does), he pays FICA just like everyone else. If his state requires he chip in on unemployment, he does that, too. (In Illinois, employees don't pay into that fund. Employer pays it all.) Disability? You only pay disability insurance premiums if you choose to.
Then you go on to gripe about how much sales tax he pays. More than you, I'll bet....since he spends a whole lot more. Property tax? He probably pays a fortune in property taxes, depending upon the cost of his home. Etc. "So in effect, they don't really pay those either." Logic fail.
Why do you think Warren Buffett (the left's hero) pays a lesser percentage than his secretary? He pays himself only $100K in annual salary and takes the rest as dividends...or perhaps stock options. Hypocrite, that one.
As to Romney? When he "revealed he pays about 15% in taxes," he was talking about his effective tax rate; not his tax bracket. Compare that to yours. Yours is probably closer to 5%. Take the total amount of income tax you paid last year (don't count Social Security) and divide that number by your Adjusted Gross Income. (If you even paid any income tax last year....since 47% of "taxpayers" paid none at all.
The median effective tax rate in the US is 27%. That's how much the typical American pays between state and federal taxes. Megamillionaire robber baron Mitt Romney, however, only pays 15%.
That is not uncommon at all for the superrich. They do not pay many of the taxes middle class people pay at all- no FICA, no unemployment, no disability, etc. And many of the taxes that apply to a large portion of middle class's income- sales, property, vehicle, etc- apply to only a very tiny percentage of the income of someone as wealthy as Romney, so in effect, they don't really pay those either.
But, you might think, we have a progressive income tax system. Certainly the super rich get hit up on that one. But, nope, they don't. The progressive income tax system really only affects up to upper middle class people. People in really high paying jobs pay 35%, in addition to the other taxes listed above. But once you break past that into the super rich, they don't get paid in wages, they get paid with equity, and equity is only taxed at a measley 15%. So, in addition to being excused from most types of taxes, they get a 20% reduction in their tax break because they don't have to work to make their income.
Romney reveals he pays about 15% in taxes - CNN.com
Yeap ,weeze gots to get them thar rich greedy bastards.How day they not pay all they income in taxes so we can has our welfares,foodstamsp,section 8s. My ten kids I am raisins all by myselfs needs they cheetos,hot pockets and barbecue pork rinds.
'
what a particularly stupid slogan. How, precisely, does investing in American businesses constitute attacking the middle class?
You're on a thread about him paying much lower taxes than working people... Is that your impersonation of a person who works? Or what?
You're on a thread about him paying much lower taxes than working people... Is that your impersonation of a person who works? Or what?
The impression is one who has invested and no is reaping the benifits. If you don't like the capital income tax laws, get your rep to help change the tax code.
In all fairness, Pelosi and her wealth growth is also legal. Does she give the impression of the type of person that works?
No, again, the median effective tax rate in the US is 27%. You might be missing that federal income taxes are less than half of all taxes.
Pelosi inherited and married into wealth, she has done nothing really to earn it but since she's a big lefty she won't get criticized by the whiners who attack Romney who actually created wealth
if thats how you want to do it, then you have given a false apples-to-oranges comparison by adding in state, local, and other federal taxes to your claimed median, but only counting Federal Income for Romney.
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