[Ingtar]

Better than 90% of it was taxed twice. It was mostly capital gains taxes.

[scooby321]

Born on third base gave his inheritance to Charity

He not Joe Biden that's for sure

Harry lets see your taxes?

[Orange1998]

Better than 90% of it was taxed twice.

I must be missing something here. Capital Gains is the profit you made on the investment, it is taxed once. The basis of the investment is not taxed again. Tell me how 90% taxed twice.

[juno67]

“It was mostly capital gains taxes.”

So Romney paid 14% on an income of 13.5 million bucks. Somehow that doesn’t seem right. During my peak earning years in the 80’s and 90’s I was paying about one third of my income to Uncle Sam, and I wasn’t making near what Romney is raking in.

And I keep hearing that we need to eliminate taxes on capital gains entirely, which would reduce Romney’s tax rate down to near zero.

I remember when it was a radical idea to have a flat tax so that the rich did not pay a higher tax rate than the middle class. Now that seems they deserve to be taxed less.