Well, make that 0.82% taxes. Under Paul Ryan's plan, Mitt Romney wouldn't pay any taxes for the next ten years -- or any of the years after that. Now, do I know that that's true. Yes, I'm certain. Well, maybe not quite nothing. In 2010 -- the only year we have seen a full return from him -- Romney would have paid an effective tax rate of around 0.82 percent under the Ryan plan, rather than the 13.9 percent he actually did. How would someone with more than $21 million in taxable income pay so little? Well, the vast majority of Romney's income came from capital gains, interest, and dividends. And Ryan wants to eliminate all taxes on capital gains, interest and dividends. Of course, Romney criticized this idea back in January when Newt Gingrich proposed it by pointing out that zeroing out taxes on savings and investment would mean zeroing out his own taxes.
Taxes on capital gains should be eliminated. In the interest of fairness to all USA citizens we need something like: www.fairtax.org
I agree but my money is on the rapture being more probable an event than a rational tax plan. We are are in too desperate of straits to introduce a rational solution.
Another way would be divide the budget by the number of Americans over 18 and send each one an equal share bill for their taxes. Or we could charge each one in proportion to the value of their assets, this would be a fair way to pay the blls also.
Romney is basically retired. He earns only off his investments and Bonds holdings. Just like most retired people. Most retired people pay the same rate Romney pays. Are they crooks?
Most retired people don't have a $102 million IRA. 99.99% people have no idea how to get a $102 million IRA.
Romney scams the system, fucks the government out of taxes and puts that tax burden on hard working middle class Americans who aren't scamming the system. I'd say it has a lot to do with it. Romney is a traitor.
Your issue is the amount of money someone has and not the rates. Would you agree to a law that taxes IRA's 100% after a it reaches a certain size of assets.Of course, you would want some some Govt official to tell you how big your IRA can be.
So are Timothy Geithner and Charles Rangel along with too many other career politicians to name here.