“Mitt Romney has invested his money around the world, from the Cayman Islands to Ireland to Australia. We don’t know if he’s using these accounts to avoid paying his fair share in taxes, but we do know that in 2010, Romney’s tax rate was a startlingly low 13.9%. This means Romney pays a lower tax rate than many teachers, firefighters, police officers, and other middle-class Americans—even a lower rate than most other millionaires.”
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"Romney’s tax rate was a startlingly low 13.9%. This means Romney pays a lower tax rate than many teachers, firefighters, police officers, and other middle-class Americans"
Math seems to ellude some people. How in the world can these guys write this stuff.
Most middle class families of 4 making $65K / year (assuming two of those four are mom and dad) pay zero percent federal income tax (some even get PAID from taxes, not including welfare stuff either). A couple making 140K / year with three kids, pays about 5% federal income tax. So no, there is NO WAY a teacher pays more than 13.9% federal income taxes after all deductions and credits are taken. Unless that teacher is bringing in 1/2 million a year.
In 2010, how much money did Romney actually make? Was it 500K, 20 million, … how much? The thing with people who make money by investing is that their income is based on WHEN they sell their assets. There are some years when a billionaire would not be selling any investments at all, and would simply make money from the interest of any cash assets. So again, the information that is vital to this statistic is conveniently left out … how much money did Romney make in 2010?
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