Left unmentioned during all the fuss and furor about Mitt Romney's 13.9% tax rate in 2010 is the fact that Wal-Mart slaves laboring for minimum wage pay a higher percentage of their income as taxes than Romney does. Yes, they don't pay *income* taxes, but they most definitely pay *payroll* taxes, which currently stand at 15.3% if you combine the employer portion and paycheck portion together, which you want to do if you're talking about taxes, as well as pay an average 9.7% sales tax on the percentage of their income that goes to non-shelter items, for an effective tax rate of around 20%.
So is it fair that Mitt gets to pay lower taxes for sitting around and letting his investment advisers move his money around than is paid by someone who works for a living? Uhm... do you need *me* to answer that question for you?!
-- Badtux the Snarky Numbers Penguin
But, Badtux, you must remember that Mitt's lower tax rates create jobs... at least according to the rethuglicans. And those WalMart workers *could* have chosen to be born rich and/or could have decided to establish Bain Capital themselves. Of course, as Cheney once said, they could also make a good living selling things (kidneys, anyone?) on EBay.
ReplyDeleteGod, I hate republicans.....
(BTW... captcha was CATingi... you cat-owned blogger, you)