The question becomes, is the 15% tax rate on capital gains fair? Mitt Romney says yes, because it is all investment money which has already been taxed. For instance, if you own stock in Exxon, and you get a dividend, it was $.57 on each share you own. Supposedly, that money has already been taxes. But has it? I thought the oil companies were always slithering out of paying taxes. How about your dividends on GE? Last year it supposedly didn’t pay corporate taxes.
Mitt Romney doesn’t have an income. He isn’t paid a salary. He lives off his investments. He pays taxes on other things…like capital gains from dividends and from profit made on sale of investments. So is it fair?
I say yes. We all pay what Mitt pays on capital gains. Now he can do fancier things to protect his assets than I can. He has more to play with by about a million billion times. But I am going to defend him…mainly because *I* don’t want to pay more. I wouldn’t have a problem bumping up the rich cats a percent or two once they hit $500,00 but I don’t think Mitt has cheated us.
What say you?
