from huffington post, red flag went up right there. they are more biased to the left than FOX is to right.
paid less than a teacher or a cop? i don't know of any of either group that pays over 3 million in taxes.
The top 1 percent: Americans who earned an adjusted gross income of $410,096 or more accounted for 22.8 percent of all wages. But they paid 40.4 percent of total reported income taxes, an increase from 39.9 percent in 2006, according to the IRS.
The top 5 percent: Americans who earned $160,041 or more accounted for 37.4 percent of all wages in 2007. But they paid 60.6 percent of the country's total reported income taxes, up from 60.1 percent a year earlier.
The top 10 percent: Americans who earned at least $113,018 paid 71.2 percent of the nation's income taxes, up from 70.8 percent a year earlier.
The top 25 percent: Americans who earned at least $66,532 paid 86.6 percent of the nation's income taxes, up from 86.3 percent a year earlier.
The top 50 percent: Americans who earned at least $32,879 paid 97.1 percent of the nation's income taxes, up from 97 percent a year earlier.
The bottom 50 percent: Americans who earned less than $32,879 paid 2.9 percent of the nation's income taxes, down from 3 percent a year earlier.
-Rando- posted:
We are the .001%! We are the .001%! Say it with me!
That's right, the Republicans proposed Robber Baron, Mitt "Capital Gains" Romney, made $45M over two years, and paid less income tax than a teacher or policeman. Some of his investments were hidden in a Swiss bank account to avoid taxation, but he closed this for "political considerations." But hey, a lifetime of pillaging companies built by hard working Americans ought to pay well, right?
Perhaps as America starves, he can sit in one of his palaces as his wife decrees "let them eat cake!"
http://www.huffingtonpost.com/2012/01/24/mitt-romney-tax-returns-released_n_1225247.html?1327382664
Mitt Romney Tax Returns Released: Paid Just 13.9% Rate In 2010, Had Swiss Bank Account
By Steve Holland and Kim Dixon
TAMPA, Fla./WASHINGTON, Jan 24 (Reuters) - Republican presidential candidate Mitt Romney released tax records on Tuesday indicating he will pay $6.2 million in taxes on a total of $42.5 million in income over the years 2010 and 2011.
Bowing to increasing political pressure to provide more detail about his vast wealth, the former private equity executive released tax returns indicating he and his wife, Ann, paid an effective tax rate of 13.9 percent in 2010. They expect to pay a 15.4 percent rate when they file their returns for 2011.
Romney's tax rate is below that of most wage-earning Americans because most of his income, as outlined in more than 500 pages of tax documents, flows from capital gains on investments.
Under the U.S. tax code, capital gains are taxed at 15 percent, compared with a top tax rate of 35 percent for wage earners.
Romney released the tax returns after a week in which his chief rival for the Republican presidential nomination, former House of Representatives Speaker Newt Gingrich, questioned whether Romney was hiding information about his finances and cast him as being out of touch with most Americans.
Gingrich's attacks on Romney helped him upset the former Massachusetts governor in the South Carolina primary on Saturday.
Since then, Romney has vowed to be more aggressive in returning fire.
He has launched a series of attacks questioning Gingrich's character, judgment and lucrative work as a Washington consultant, and released his tax returns to try to nullify Gingrich's criticisms on that front.
The tax rates Romney reported paying could add fuel to a national debate over the fairness of the tax code, and coincides with broader concerns about income inequality symbolized by the Occupy Wall Street movement.
(>o.O)> (>o.O<
ou're so heterophobic" -Lyli