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jonathankaplan


Onward

...wherever you go, there you are...


opportunistic politic
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jonathankaplan
An American is taxed about 35% of their wage income (if they are in a high tax bracket). That American is taxed about 15% on their investment income (assuming the income is long term gains). So, why is it surprising that Romney, who has about 250 million in wealth, but has a wage income under one million, is paying net taxes of about 15%? Almost all of his income is from long term capital gains. The other (less wealthy) candidates pay higher net rates on income because they have less wealth, and their income comes much more from wages than investments.
Is the publicity about this the start of efforts to raise the capital gains tax or is it merely an obfuscation of a political nature to attack Romney?