President Obama’s campaign, with a good dose of help from the media, is pushing a claim that millionaire Mitt Romney is taxed at a “lower rate” than someone making $50,000 a year.
The claim, though, is open to debate. It only holds up in a particular scenario in which both income and all payroll taxes
Romney made good on his pledge to release his tax returns from 2011 before the election, and went a step further than was previously anticipated in releasing a certified summary of his tax returns over a two-decade period preceding 2010.
You can see them here: http://www.mittromney.com/disclosure
The Republican’s campaign said Romney paid more than $1.9 million
The Romney campaign is releasing Mitt and Ann Romney’s 2011 tax return today. The campaign previews a few of the highlights here:
In 2011, the Romneys paid $1,935,708 in taxes on $13,696,951 in mostly investment income. The Romneys’ effective tax rate for 2011 was 14.1%. The Romneys donated $4,020,772 to charity in 2011, amounting to nearly 30%
Everyone has been desperately waiting for this. At 3:00 pm it will be publicly released. Hopefully, shortly thereafter we can proceed with the discussion of important things such as the complete economic collapse of not only America, but the entire world (which is apparently now hooked into voting for Obama as disclosed earlier). For those
U.S. Representative Paul Ryan of Wisconsin said he provided “several years” of tax records toMitt Romney’s campaign as part of its vetting process for choosing a running mate on the Republican presidential ticket.
Ryan also said he planned to release two years of his tax records to the public, as Romney has pledged to do. Democrats and even some
Over a four years period from 2008 to 2011, Corning Inc. was one of 26 companies that managed to avoid paying any American income taxes, even though it earned nearly $3 billion during that time. In fact, according to Citizens For Tax Justice, the company received a $4 million refund from 2008 to 2010. That didn’t stop Susan Ford,
1. US had HIGHEST INEQUALITY OF WEALTH before FINANCIAL CRISIS – FAR WORSE NOW!
2. America = Highest Wealth Inequality in Developed World and OUR HISTORY!
3. “War against working people by EIIitist and Business class is bitter “HIDDEN” Class Read More…
4. RICH EscaIating At tack on US workers started 1970 (Nixon) and ACCELERATING
Six American families paid no federal income taxes in 2009 while making something on the order of $200 million each. This is one of many stunning revelations in new IRS data that deserves a thorough airing in this year’s election campaign.
The data, posted on the IRS website last week, brings into sharp focus the
Joe Biden has increased his giving to worthy causes more than fivefold since he became vice-president but he still donated a paltry 1.5 per cent of his income, well under half the national average.
In tax returns released by the White House, it was revealed that Biden and his wife Jill earned $379,035 in 2011
President Barack Obama is calling on Congress to increase taxes on millionaires, reviving a proposal he first pitched last September that aims to draw sharp election-year lines between the president and the Republican opposition.
The plan, scheduled for a vote in the Democratic-controlled Senate on April 16, stands little chance of passing in Congress.
For example, just the deductions for depreciation is more generous than any other country in the world.
Effective Tax Rate For Corporations taking into account JUST Depreciation:
Germany = 26.6% Japan = 24.4% Canada = 24.1% Australia = 23.7% Netherlands = 23.0% United States = 22.1% Norway = 21.4% Spain = 20.6% Belgium = 20.0% France = 19.9% UK