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”
IKR?!!!! I was stunned he sounded so proud, as mine too is about 28%. must be nice to be so rich as to pay less for the privilege!!!
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.
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?
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