Harry Reid claimed Mitt Romney paid no taxes for 10 years. Now we know that was not true, but still no apology from Reid. Now we know Romney paid millions in taxes over the past 20 years at an average rate of 14.1 percent and contributed tens of millions to charity. He followed the current tax law and even reduced his actual contribution deduction to ensure he maintained his 14.1 percent effective rate.
Most of his earnings are in the form of capital gains and dividends. Now President Obama claims Romney pays taxes at a lower effective rate than the middle class. That makes great headlines but again is not true. Middle class people earning between $50,000 and $75,000 pay an effective tax rate of 7.1 percent, about half of Romney's effective rate. Does anyone think President Obama, Harry Reid and Nancy Pelosi don't also pay tax on their capital gains and dividends at that legal preferred rate?
- Share Facebook Twitter
Article sent to (required)E-mail
Article sent from (required)E-mail Name
Subject Line (article title)
Message (optional)Success - Article sent Click to close
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.Need more information about reprints? Visit our Reprints Section for more details.
Contact information ( * required )Name * Company Telephone * E-mail *
Article InformationTitle URL
Message (optional)Success - Reprint request sent Click to close