|TAMPA, FL - AUGUST 27: Protesters demonstrate in front of the Bain Capital (Image credit: Getty Images via @daylife)|
Mitt Romney thinks it’s fair that he paid a lower tax rate on his investment income of $20 million last year than someone who made $50,000 annually. I disagree with his thinking. Mitt says some of his investments are creating jobs and that’s why the tax rate should be low. Then what happens when Mitt’s investments kill jobs like Bain Capital did? Not only does Mitt maybe write off a loss on his taxes but America also gets a double whammy. We lose collecting the employees’ payroll taxes because of all those lost jobs and then we have to start paying out unemployment checks.
Many poor people buy lottery tickets hoping to get rich. This is investing to them. If it pays off they have to give about ½ of the winnings to Uncle Sam. Why is it fair for Mitt to pay around 14% and some poor first time lottery winner gets stuck with 50%?
If the rich investors can prove they created jobs in America then maybe they should get deductions but only then.
Not only is Mitt Romney not paying his fair share of income taxes but he is stashing money out of the country to avoid paying more taxes.
Do we really want this man for president?