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Posted on 04/12/2012 5:54:16 PM PDT by PhxRising
The Buffett Rule improves tax fairness by ensuring Americans who make more than $1 million a year can’t get special deals to pay a lower rate than many middle-class families. Mitt Romney opposes the Buffett Rule because it would mean people like him would have to pay more. In fact, Romney’s tax plan gives the average millionaire a $250,000 tax cut. To pay for these massive tax cuts, Romney will either drive up the deficit, gut programs important to the middle class, or both. Use the calculator to see how the Buffett Rule would level the playing field.
(Excerpt) Read more at barackobama.com ...
However, the personal tax rate calculations are COMPLETELY FALSE!
As an example, I put in info for a typical family of 4 with a gross income of $65,000. The website says that I pay 15.1% in income taxes.
Then I went ot the IRS website and calculated my taxes. I used the standard deduction of $11,600 and have 4 exemptions for $14,800, which leaves a taxable income of $38,600. From the tax tables, the actual tax is $4,936 or 7.5%, which is less than half what the Obama website reports.
The Obama website is INTENTIONALLY LYING to people as to how much they pay in taxes!
Obama thinks the American people are so stupid that he named a tax rule after an avowed tax cheat.
How dare they ask for one more penny from anyone when government employees are blowing millions of dollars on trips, entertainment, gifts, etc.! Until government is cut down to size and waste, fraud, and corruption are drastically curtailed, taxpayers should tell Obama to take a hike.
Uhmmmmmmmmmm........I would think the AMT would have solved the billionaire problem. It sure seems to have snatched up those of us in the middle class.
We all need a Leonna Helmsley moment.
It won’t give a rate if you put in 25K and married w/ kids. It just says some people pay low taxes because they don’t make much.
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