I have read a series of articles and watched several news reports on the recent release of Mitt Romney's, a GOP candidate, tax information. Mitt Romney and his wife made an estimated $45 million in 2011 and will be paying $6 million in taxes at a 15.4 percent rate. Most are in an uproar of the insane amount of income the Romney's earn in a year and believe they should be held to a higher tax rate. What I am confused about is why people are attacking Romney and not those that set those rates?
I think people need to do their research first before they shoot the wrong bird.
The top rate of 35% is tax to the ordinary income that the average middle class citizen pays in taxes. The rate of 15% that we see the Romney's paying is because it is the rate they are held to for long-term capital gains and dividends. The Romney's are just following the set rates set by our government. Though I think there is a huge discrepancy in these rates, I don't think it is the Romney's fault in the least but Congress who set the rates. People are blaming the wrong person. As we discussed in class, the Constitution lays out the duties of our Government. Congress make the tax laws and are the ones to blame for the discrepancy.
Now for a tangent, the article attached below compares two of the front runners of the GOP race based on the taxable rates and the amount of incomes each make. Ragging on Romney because he is one of the wealthiest Americans to run for Presidency.
I don't know about most American's thinking but I personally would feel more comfortable in this troubled economy to be lead by a man who knows how to and can make insane amounts of money for himself. Just think of the turn around to our economy he could perform. Look at the facts they are right there!
http://www.cnn.com/2012/01/26/politics/north-florida-conservatives/index.html?hpt=hp_t2
http://www.huffingtonpost.com/2012/01/24/mitt-romney-tax-returns-released_n_1225247.html
Are you suggesting that the average American is being led around by the nose via the media circus? That the average American can't deduce these things themselves? ;)
ReplyDeletePaul, I think many of us are confused with the whole political process and can sometimes be totally clueless about what's truly happening. I include myself in this category. It's an on going learning process and we could all probably use a refresher course on what's happening!
DeleteYES!They put Obama in didn't they?!
ReplyDeleteI would hope that they did their research but I also think that media plays a part in SOME of American's thinking.
I happen to agree! I put more trust in a man who can show from past actions that he has the ability to make money, turn impossible, long shot ventures into gold and maintain a proactive approach to problems. He does what he says he'll do. Maybe this time we can get a President who just might do what he says he will! I don't care about the tax issue. I think people are grasping at straws, looking for anything to discredit Mitt Romney!
ReplyDeleteTo me, it's just more mudslinging. I look at it as a 99% vs the 1% thing. I can't believe people just listen to what the media has to tell them about the taxes people pay without trying to understand the whys behind it. I'm not a huge Romney booster, but it frustrates me that the rallying cry behind a lot of politics is so blind.
ReplyDelete