I don't have a dog in this fight, but...

[Sundae]

Romney's tax records made the news today in the UK.

Am I missing something here?
How is it possible for someone to earn $21 MILLION and only pay $3 million in tax?

7%?

7% if you're on minimum wage feels like an awful lot.
7% of millions is small change. It's money you cannot possibly spend OR EARN rationally.
Especially when you have the money to manage your money.

It seems I know very little about America.
And almost nothing about American politics.
Because I find that appalling.

[glatt]

Me too. And some conservatives will say he pays too much.

[BigV]

Originally Posted by Sundae

Romney's tax records made the news today in the UK.

Am I missing something here?
How is it possible for someone to earn $21 MILLION and only pay $3 million in tax?

7%?

7% if you're on minimum wage feels like an awful lot.
7% of millions is small change. It's money you cannot possibly spend OR EARN rationally.
Especially when you have the money to manage your money.

It seems I know very little about America.
And almost nothing about American politics.
Because I find that appalling.

Please note.

Your numbers are on target but your arithmetic is wrong. 21/3=7. True. But 7 is not 7 percent. If you turn it around... 3/21, you get .14 ish. 14 PERCENT.

Carry on.

[tw]

Originally Posted by Sundae

Am I missing something here?
How is it possible for someone to earn $21 MILLION and only pay $3 million in tax?

Where have you been the last decade? Numbers were being posted even back when George Jr declared "Mission Accomplished".

2) When the rich get richer, massive recessions and job losses result. This problem only occurred twice in American history. Just before 1929. And again in the 2000s. Obvious is what followed both times.

3) The rich get government welfare - both wealthy individuals and corporations. Myth purveyors have a majority of Americans believing their taxes went down. Nonsense. Even Reagan raised taxes. But popular myths say otherwise. Spin is easy when numbers are ignored.

4) George Jr said the rich create jobs. A myth called trickle down economics - or better called voodoo economics. At what point does that 'rich create jobs' lie become obvious?

5) Cited almost a decade ago is what Warren Buffet said back when Ted Koppel was still doing Nightline. Buffet - America's second richest man - loudly complained that he pays less taxes. That morning, that many years ago, it was posted here.

The richest (individuals and corporations) pay lowest tax rates because that was the political agenda. A majority were also told Saddam had WMDs. By ignoring numbers that said otherwise, subjective claims are sufficient to manipulate reality. Richest Americans get tax breaks. Numbers for the last decade have always said so.

American politics is easily grasped when facts must include numbers. When facts without numbers are best called lies. Most still believe Reagan reduced taxes when numbers say Reagan increased taxes. Why do so many believe Reagan cut taxes? Same reason why a Tea Party agenda is obviously bogus. Too many eyes glaze over when numbers arrive. So many all but want to believe lies. You don't have a Fox News, et al to inspire so many with subjective claims (lies) and hate.

BTW, many if not most American have been told they are some of the world's highest taxed people. You see those numbers. Americans are some of the least taxed people. But that would not inspired lies and hate on Fox News. So numbers are not provided.