Republican presidential nominee Mitt Romney inadvertently brought up a few important topics in the secret videos released yesterday by David Corn, while expressing his disdain for 47% of the electorate– and to be sure, almost all of us are of a lower income status than the uber-wealthy candidate.
The actual number is 46 percent that paid no federal income taxes in 2011. Half of those nonpayers earn too little to pay any taxes, and half of them do so through tax deductions and exemptions, according to the Tax Policy Center — of that half, 44 percent use tax deductions designed to help the elderly, and 30 percent use tax deductions that aid the working poor or children.
Politico reports, “Not all of those avoiding income tax are poor, however. Even 4,000 people earning more than $1 million managed to not pay income taxes in 2011 because of deductions, according to the Tax Policy Center.”
Most low income earners pay federal payroll and excise taxes, as well as state income taxes, taxes on purchases, etc. Can you say, taxed enough already?
So, Mitt just threw the elderly under the bus, as well as Veterans, the poverty sticken, etc. But, what about Mitt Romney?
Mitt Romney’s tax rate, which he claims to be at 13% (depending on which day you ask him), is an unproven claim. For all we know, Romney may have loopholed his way out of paying any taxes whatsoever, just as Senate majority leader Harry Reid claims.
Conservatives want Romney’s elusive tax returns to be released. Hell, the majority of those polled believe that the ever-imploding candidate should step up to the plate and release them — just as his father did. This could be the one determining factor to save Mitt’s race to preside over the most powerful country in the world. But, to get there, you need to have character — and at least a semblance of honesty.
A new study was released by the nonpartisan Congressional Research Service which found that over the past 65 years, tax cuts for the rich have not led to economic growth and instead are linked to greater income inequality in the United States. The middle class, the ones who need income to stimulate the economy are suddenly a repulsive topic for the Republican candidate, so much so that he frowned upon them while speaking at a donor-luncheon filled with millionaires.
The closed doors meeting is nothing new for the Romney/Ryan ticket. In fact, Ryan met covertly with Republican ‘leaders’ to swear an oath of obstruction against anything and everything our newly minted president tries to accomplish. That meeting was held on the eve of Barack Obama’s inauguration.
We are the 47%!
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