Skip to comments.Fact Check: Is Romney's tax rate really lower than yours?
Posted on 09/26/2012 8:10:50 PM PDT by Brown Deer
President Obama's campaign, with a good dose of help from the media, is pushing a claim that millionaire Mitt Romney is taxed at a "lower rate" than someone making $50,000 a year.
IRS data, though, shows that Romney's effective income tax rate -- that's what he pays as a percentage of his income once deductions and other benefits are factored in -- is actually far higher than what most Americans pay.
Romney's rate in 2010 -- which was also about 14 percent -- was higher than what 97 percent of Americans pay.
(Excerpt) Read more at foxnews.com ...
No, mine was right around 11%.
Hense the need for the Fair Tax.
He pays more. I pay less than 10% federal taxes and I make slightly over six figures. Just saying.
People that donate a huge amount to charity end up lowering their effective tax rate. Obama is effectively attacking Romney for both his success in business and his generosity in giving...neither of which vices Obama shares it seems.
Yeah mine is 17& and I’m better off than 4 years ago..I never seem to fit in :)
Apples and oranges, stupid Fox News. Romney has an income in common parlance, but the rate you’re talking about is not an income tax.
All I have to say is this. The leftist opposition seems to have a fondness for throwing people who do as they wish under the bus (Bush II), or attacking people with the utmost hypocrisy and self-interest (accusing someone of not paying enough taxes, while having little to no desire to change tax laws and/or simply not mentioning how they can be as rich, if not richer than their own opponent) Anyways, Romney pays more than I do, and paid as he should according to the law, if some liberal actually wanted to change the laws about taxes for everyone’s fairness, I might listen, but seeing as how many of them only speak for their own demagoguery and no real action, I won’t raise an ear or an eyebrow.
Regarding tax laws, the Steve Forbes idea of a flat tax rate with a simple one-page form sounds like a good idea to me.
I payed nowhere near millions of dollars in taxes.
Ergo, his tax rate is much higher.
Poor guy, nobody appreciates his sacrifice.