Making $50,000 a year? Mitt Romney thinks you ought pay higher tax rate than him

September 23, 2012
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60 Min: Is “fair to a guy who makes $50k” to pay “a higher rate than you?” Romney: “yeah.. It’s the right way to encourage economic growth”

So, Republican presidential candidate Mitt Romney continues to double down on comments showing a direct disregard for people making less than him.

On CBS’s 60 Minutes, Romney defended his low tax rate – and further denounced half of American people.

“Now you made, on your investments, personally, about $20 million last year,” Pelley said. “And you paid 14 percent in federal taxes. That’s the capital gains rate. Is that fair to the guy who makes $50,000 and paid a higher rate than you did?”

“It is a low rate,” Romney said. “And one of the reasons why the capital gains tax rate is lower is because capital has already been taxed once at the corporate level, as high as 35 percent.”

When pressed on whether or not he believes that rate is fair, Romney said he thought it was the “right way to encourage economic growth — to get people to invest, to start businesses, to put people to work.”

Mitt Romney believes – as does the newly reformed and hard-edged Republican party – catering to the rich while asking for the middle class and poor to make even more sacrifices, including losing what you’ve paid for while working – Medicare and Social Security.

Romney also works tirelessly to convince those hard-working $50,000 a year wage earners to forgo their pocketbooks and wallets and  protect the rich in the hopes of a “trickle-down” solution. Oh, those pesky social issues are mixed in for flavor.

And the GOP push the message of redistribution never having a place in America. But leave it to those annoying fact checkers to prove Romney – and the GOP – wrong.

Romney said that “redistribution” has “never been a characteristic of America.”

Reasonable people can disagree about the wisdom of it, but redistribution has been a basic principle of the U.S. tax system and many federal programs, including some such as veterans benefits that have long attracted support from Republicans. Pants on Fire!

Again, there is a war being waged. It is not surprising people remain blind to the facts, those being 1)used for their voting power and 2) using social issues to keep them from thinking about how poor and mistreated they really are.

Sure there is more than that, folks. But know this: A person who lives in a doublewide in the south making less than $50,000 will defend Mitt Romney and his twisted immoral philosophy.

And that’s a damn shame.

Because those exact people need the help the GOP are wanting to throw in the dumpster.

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  • http://twitter.com/arbuge Alex Bugeja

    Romney’s analysis is correct. His effective tax rate is almost 50%. The 14% is taken out of the remaining 65% after the income was taxed the first time at the corporate level.

    The $50k per year guy isn’t taxed at two levels. His effective rate is way below Romney’s.

    As Clinton says it’s all about arithmetic. So do the arithmetic…

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