Is Romney's effective tax rate lower than yours? (80% of ALL Americans pay less than 15%)

cnn ^ | 1/19/2012 | Jeanne Sahadi

[tobyhill]

So Mitt Romney thinks his effective tax rate is about 15%.

That prompts many people to express disbelief: "What?! Most people pay a higher rate than that, don't they?"

,,,,

But assuming he's correct, here's why his effective rate is probably higher than most people's: The effective tax rate is always going to be lower than one's top income tax rate. And the top rate for roughly four-fifths of Americans is 15% or less, said Roberton Williams, a senior fellow at the Tax Policy Center.

In other words, 80% of Americans have an effective rate below 15%.

[Sax]

Flat Tax and be done with it. No loop holes, we all pay the same, and the country is better for it.

[tobyhill]

Exactly and then those making ANY amount would pay their “fair share”.

[Signalman]

Hey CNN, the Obama administration runs guns to Mexico resulting in the death of Americans, and the big question you have is: How much does Mitt Romney pay in taxes?

Personally, I don’t give a s**t what Mitt Romney, or anyone else, pays in taxes.

[RightGeek]

It’s nice to see someone in the MSM considering the facts for a change. You can be sure that the Donk talking points will be fact free.

[Utmost Certainty]

Agreed. I’m tired of the tax code being used as an instrument of social engineering.

[tobyhill]

Since it's going to be the main theme for Obama tonight I felt it's appropriate to remind everyone that he's not talking to the actual Middle-Class, he's talking about taking from everyone that pays taxes and giving it to those that pay 0%.

[Cincinatus]

“Effective tax rate” my butt! This refers only to federal INCOME taxes and does not include the FICA/Social Security swindle, excise taxes, sales taxes, state and local taxes, death taxes and the myriad other death-by-a-thousand-taxes that makes up life in America under the existing kakistocracy.

[brownsfan]

I’m one of the “lucky” 20%.

Talk about 99%’ers. I think the 20%’ers are the ones with a legitimate gripe in this country!

[USNBandit]

I made $100 K last year. I have a wife, three kids, and a mortgage. My effective federal income tax rate without any contortions was 7.9%. I think I pay more in Social Security and Medicare taxes.

[kabar]

80% of Americans pay more in FICA taxes than income taxes. 47% pay no income taxes. 26 million actually receive EITC, which means they get money back from the federal government.

[tobyhill]

The real Middle-Class better quit falling for this scam about “fair share” because they are always the ones to foot the bill. The “1%” will find legal ways to lower their tax rates and the “poor” will never pay a tax so that leaves only one group to pay, the Middle-Class and Obama knows it.

[LostInBayport]

Hey CNN, the Obama administration runs guns to Mexico resulting in the death of Americans, and the big question you have is: How much does Mitt Romney pay in taxes?

I would have loved to see Newt Gingrich ask something similar to Brian Williams last night. "You're asking about putting men on Mars and sugar, but what about the federal government selling weapons to drug cartels? What about the important issues?"

[Reagan69]

I’m out 35% !

[tobyhill]

I'm a 25%.

[muawiyah]

The federal personal income tax was peddled (by Republicans) with the idea it would be used only to tax THE RICH ~ the top 1% or 2%.

Obviously it's failed. Through FICA (an income tax BTW) it taxes 100% of wage earners. Through the personal income tax it double taxes yet another 53% of wage earners.

Obviously it has failed.

Tinkering with it does not solve the fundamental problem ~ best that we just get rid of it and move on to some other way to pay for government.

Arguments to the contrary are (1) venal, (2) suggestive of having a personality disorder, (3) immoral.

[Beagle8U]

Now figure that as single with no dependents other than yourself. It will be one hell of a lot more than 15%!

That is what pi**s me off. They should tax everyone the same and they can have as many kids as they can afford on whats left.

[WOBBLY BOB]

AMEN!
case in point:
Canada doesn’t have a Fannie or Freddie nor a tax write off for mortgages, yet people still own homes there and they didn’t have a national mortgage meltdown.

[TomGuy]

So Mitt Romney thinks his effective tax rate is about 15%.

Fault the Representatives and Senators (past and present). It is the US Congress that establishes legislation regarding the tax rates. Wonder what most of Congress pays?

This type of article is trying to play into the class-envy environment [1%-ers vs 99%-ers].

[Disclaimer: I am not a Romney supporter. But I do not begrudge rich people earning from the fruits of their labor. In capitalism, those rich are usually the ones creating jobs and companies.]

[Iron Munro]

Churn that class resentment, CNN!

Jump on the anti- capitalist bandwagon!

Feed the fires of envy.

Push the moocher/social justice mentality.

Get Obama re-elected!