My Tax Rate vs. Romney’s

My federal tax rate is in the 28% range.

That’s more than twice that of Romney, who sounded proud when he proclaimed that his was never lower than 13%. I am baffled how Romney can think this is good.

The last time I paid less than 13% taxes was when I was in college and made $3,500 a year digging ditches, painting houses and patching roofs on the side. I think I got a $75 refund that year.

I am not wealthy. Romney is rumored to be worth half a billion dollars.

Do I think “the wealthy” should pay more taxes?


4 thoughts on “My Tax Rate vs. Romney’s

  1. DogWalksMan

    I would bet his 13% was worth far more in actual dollars than your 28%… He only paid 13% because of all the millions he gave to charities and church.

    1. I am sure he paid far more dollars. If he made $10 million, he paid $1.3 million at 13%. And I definitely don’t know what he gave to charities and church.
      However, as I understand how the tax code works, deductions for charity don’t bring down the tax rate, they bring down the dollars he pays. To bring the tax rate down to 13%, he’d have to give all his money to charity, wouldn’t he?

  2. Hey Norb–want to a lesser rate-then be poor like us farmers-who rely on mother nature to provide for our earnings–I think my rate is around 6%-but is low because of low income–Busti Farmer

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