Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: P-Marlowe
The headline is deliberately misleading. ....
Romney's effective tax rate is actually only about 2% when compared to the effective tax rate paid by the employees of the businesses he is invested in.

If you are comparing his effective tax rate as a percentage of his wage income then it is probably several thousand percent rather than 2%.

As for your assertion that his effective tax rate is only about 2%, based on your errant calculation of taking the difference between the FICA rates on wages and his estimated 15% effective tax rate, are you being deliberately misleading or just ignorantly misleading?

34 posted on 01/24/2012 2:12:13 PM PST by VRWCmember
[ Post Reply | Private Reply | To 31 | View Replies ]


To: VRWCmember; xzins
If you are comparing his effective tax rate as a percentage of his wage income....

No, I'm not because Mitt Romney does not have a "wage" income. Probably never did. I'm comparing the income from all sources from Romney and the income from all sources for Joe Six Pack.

Joe Six pack making $20 an hour has a minimum effective income tax of 15% just by his FICA contributions and probably another 15% tax on his earned income making his overall effective income tax rate somewhere in the neighborhood of 30%. So the headline is clearly misleading.

37 posted on 01/24/2012 7:20:50 PM PST by P-Marlowe (NEWT!!! Because everyone else is just average.)
[ Post Reply | Private Reply | To 34 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson