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Topic:
Romney pays a higher effective tax rate than 97%+ of Americans [Locked] |
Sin_of_Onin  Posts: 1,307
Registered: 2005-6-29 08:21:12
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Date Posted:
1/1/00 12:00am
Subject:
Romney pays a higher effective tax rate than 97%+ of Americans |
Actually our effective tax rates vary greatly by town but if you add them all up you would have a much better picture of just how progressive taxation in the US is.
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eodoll Posts: 1,028
Registered: 2002-2-14 12:35:42
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Date Posted:
1/1/00 12:00am
Subject:
Romney pays a higher effective tax rate than 97%+ of Americans |
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I pay around 50% in taxes
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IMHO Title: Official Outpost Greeter
Posts: 2,287
Registered: 2001-11-1 03:55:02
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Date Posted:
1/1/00 12:00am
Subject:
Romney pays a higher effective tax rate than 97%+ of Americans |
I pay 30 to 35%.... I need to get a different CPA. 
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Yukishiro1 Posts: 3,243
Registered: 2002-9-20 23:52:57
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Date Posted:
1/1/00 12:00am
Subject:
Romney pays a higher effective tax rate than 97%+ of Americans |
Scarne posted:
Don't be dumb. 
Haha no kidding.
This is like a Sweeney post or something it's so bad.
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Sansfear  Posts: 757
Registered: 2008-8-31 05:04:52
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Date Posted:
1/1/00 12:00am
Subject:
Romney pays a higher effective tax rate than 97%+ of Americans |
I should have said 87%, not 97%. Here is how I calculated it (I'm not quoting anyone, I was just looking at the IRS data, feel free to check it yourself).
Open up the Excel file in the link. This is the 2009 data from the IRS.
http://www.irs.gov/pub/irs-soi/09in11si.xls
Look at column S.
This is the total income tax paid as a percent of taxable income (do we agree that this is the effective tax rate?) This does not show the effective tax rate of individual filers, but of the group as a whole. Individuals within each group will vary widely in their effective rate.
The effective rate hovers around 10% for all taxpayer groups up to 100K.
<5K 11.9%
5-10K 10.2%
10-15K 6.8%
15-20K 6.6%
20-25K 8.7%
25-30K 9.7%
30-40K 10.0%
40-50K 10.6%
50-75K 11.6%
75-100K 12.3%
ROMNEY 13.9%
100-200K 16.3%
Now look at column C. This is the percent of total returns for each income group.
If you sum the total % of returns for all taxpayers up to 100K, you get 87.6%.
You can try and argue semantics, but those are the numbers. |
Yukishiro1 Posts: 3,243
Registered: 2002-9-20 23:52:57
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Date Posted:
1/1/00 12:00am
Subject:
Romney pays a higher effective tax rate than 97%+ of Americans |
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Doesn't include payroll tax, therefore useless. When you include payroll tax Romney pays about the same % as average Americans, despite making about 250x as much as them.
If your great argument is that Romney earns 250x the average salary and pays the same % in federal income taxes, go you I guess?
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theredkay1 Posts: 611
Registered: 2008-5-16 10:37:09
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Date Posted:
1/1/00 12:00am
Subject:
Romney pays a higher effective tax rate than 97%+ of Americans |
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Why are we leaving out SS and Medicare taxes? Sales taxes? Property taxes?
What is the point of arbitrarily choosing some taxes and ignoring others?
Why not arbitrarily choose income sources too? If we just compare income earned from janitorial services, Romney is a pauper compared to all the janitors in the US....and even though Romney's income is $0, he has a tax rate around 14%. Whats the deal with that?
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Kjarhall Title: The Pungent One
Posts: 915
Registered: 2002-3-1 15:47:21
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Date Posted:
1/1/00 12:00am
Subject:
Romney pays a higher effective tax rate than 97%+ of Americans |
So he pays more than 87% of Americans and makes more than... ~98% of Americans? And this is supposed to defend the argument? Might want to rethink that one.
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Scarne Title: Capo di Scientifico
Posts: 1,087
Registered: 2001-7-23 15:24:34
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Date Posted:
1/1/00 12:00am
Subject:
Romney pays a higher effective tax rate than 97%+ of Americans |
Kjarhall posted:
So he pays more than 87% of Americans and makes more than... ~98% of Americans?
Romney is in something like the top 0.001%. So he makes more than 99.999% of Americans.
He needs to work on getting into the six sigma group!
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ZigmundZag Title: Grammar Nazi
Posts: 1,211
Registered: 2002-3-25 23:03:00
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Date Posted:
1/1/00 12:00am
Subject:
Romney pays a higher effective tax rate than 97%+ of Americans |
Scarne posted:
He needs to work on getting into the six sigma group!
Wouldn't that be why he's running for President?
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