
I don’t care that Willard Mitt Romney paid 15% in taxes over 2010 and 2011; he followed the letter and the spirit of the tax law.
I don’t care that over this time he gave $7 million to charity, including over $4 million to his church; that’s generous of him (if even only a small portion of his quarter-billion estimated total net worth). Of course, Mormon tithing requirements stipulate 10% of salary and Romney’s income wasn’t salary, but rather investment income.
I honestly don’t care about his recently-closed Swiss bank account (nor do I care about the ones still open in the Cayman Islands); he’s perfectly within the law to do so.
I really do not care that it’s nearly always the 1% who can afford to run for President. I also do not care that Romney qualified as the top 0.006% in 2009.
What I do care about is the whining coming from the Republican party whenever anyone suggests raising taxes on the wealthy. If I hear them claim that the wealthy are ‘taxed enough’ and ‘why do they have to pay more than their fair share?’
I’m sick of it when news like this comes out showing, definitively, that the wealthy (to grossly generalize) are decidedly NOT paying their fair share.
I’m tired of this country putting more burden on money earned while on the job - a salary - than if made through investment.
“But Jim,” you might respond, “aren’t you investing your own money in the stock market, earning qualified dividends, and planning your own trades for better tax benefit?” You’re damned right I am.
I have the means, both mentally and financially, to make investments and take advantage of these perks typically reserved for the wealthy and I am sure as hell going to use them to help myself approach wealth. But it is FAR from fair. This income should be taxed along with the money I “work” for at the same rate. If not, more.
People are out busting their collective asses for many hours each day, often at several jobs, paying more percentage of their income in taxes than Mitt pays while he has enough free time to run for President. Shame on America for allowing this UNfair tax strategy to thrive. Shame on Republicans for continuing to fool Americans into thinking that the existing strategy is fair. It is time to have a TRULY fair tax policy.
During the 1950s and early 60s, the highest tax bracket was over 90%. Granted, this was a marginal rate, meaning that not all of someone’s income was taxed at this rate.
This was an effort to discourage mindless greed, and it was thought that this would ultimately benefit the economy. The theory…
Warren Buffett is the chairman and chief executive of Berkshire Hathaway. He’s also one of the wealthiest people in the country.
Interestingly, he believes that his taxes should be raised, along with the 236,882 other households making more than $1,000,000 annually.
My friends and I have been coddled long enough by a billionaire-friendly Congress. It’s time for our government to get serious about shared sacrifice.
He makes a compelling article in the op-ed. I say we listen to the rich guy and raise his taxes.