iBankCoin
Joined Nov 11, 2007
31,929 Blog Posts

Perspective On Romney’s 15% Tax Rate

For the average American making $40k per year, being taxed at 28%, to match what Romney paid –at 15%–in one year of taxes, it would take them about 400 years to accomplish. The average guy making $40k is paying roughly $8-10k in taxes per annum. If he/she calls the police or fire department once, the gov’t will likely lose money on him. Romney is paying roughly $3 million per annum, which in turn finances all of the federal horseshit people clamor for. The tax rate, in many respects, is irrelevant–actual dollars is what’s important.

 

Do the math.

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8 comments

  1. Juice

    Do the math on what he kept. The avg guy won’t make that in this lifetime and the next.

    a 13.9% tax rate with a swiss bank account ain’t gonna fly in the election … stick a fork in him .. finished

    get ready for the lincoln-douglas debates that the Newt wants so badly with Obama … he better be careful for what he wishes for

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  2. Woodshedder

    The average American making 40K a year is paying little to no taxes, whatsoever. 28%? That is ridiculous.

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    • Juice

      people from top to bottom are cheating on their taxes … it’s the american way

      if you’re rich, well connected, knowledgeable in such matters, you can ‘cheat’ legally .. your high paid lawyers & accountants have to earn their keep

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      • Jakegint

        Um, no, let’s try again, mathlete.

        If you manage to build wealth while dealing with the disincentivizing “progressive” INCOME tax, then you only have to pay 15% on any increase in that AFTER TAX WEALTH.

        It should be zero percent and you should get a thank you card from the U.S. economy for every year you put AFTER TAX assets at RISK for the betterment of society.

        There’s a lot of things libs get wrong, but one of the most egregious is whiffing completely on the concept of risk… they just don’t get it.

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  3. Jakegint

    Fly — I agree, and actually just made a similar comment on the original Mitt tax release post.

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