[Persevero]

“By his own admission Mr. Wealth admitted that he was paying about 15% as his federal income tax rates! What’s that mean? It means he is so wealthy he lives off his long term investments. “

SO WHAT?

I am not a Romney supporter, but I am all for successful people living off their investments. More power to him on that.

[fabian]

yeah, we should never have even had an income tax. the founders fought the greatest military power of that day over far less excessive taxation!

[SgtSki]

“By his own admission Mr. Wealth admitted that he was paying about 15% as his federal income tax rates! What’s that mean? It means he is so wealthy he lives off his long term investments. “

To be more specific its capital gains that are taxed at 15%.
Interest and Dividends are taxed at a higher rate unless the are invested is TAX free securities issued by gov’t entities.