Friday, January 20, 2012

Romney pays a lot of taxes.

I just read Taxes at the Top, by Paul Krugman. He dished out his usual garbage, this time talking about how little in taxes Romney pays. Let's say that Romney made 387 million last year. At 15% that would be almost 58 million in taxes. For most of us, that's a lot of money. I suspect it goes way way beyond the benefits he derives from the Federal government. In addition, he pays state tax and sales tax, and a host of other taxes embedded in the prices of the items he buys. Let's say that someone who earns 100,000 pays at a 37% rate. They might end up paying 20 or 25 thousand. That's 3-4% as much taxes. Please tell me, Robin Hood, why Romney should be paying more than he is? I think 58 million is plenty.

P.S. This is not a paid ad for Romney.

P.S.S. I'm not voting for Krugman.


Anonymous said...

"Everyday I think"
Are you sure about that?

Kim Mosley said...

No, I'm not sure. I'm not even sure that we are "real," whatever that might mean.

Though it seems like the ultimate chutzpah for people to ask someone who is paying 58 million in taxes to pay more than they are paying. If a society decides everyone should pay half of their income, then they'd have to live with that or move elsewhere... or hope to persuade people that the tax laws should be rewritten. In this case, I'm trying to make the case that the rich are contributing their due share.

Anonymous said...

A dollar from someone at the poverty level, 15% from someone at the poverty line or middle class has a different value than a dollar from the upper classes. It produces a much different result because it can place someone's ability to purchase food or medicine at risk. 15% in taxes at the poverty line can be a death sentence. 15% at the top has no effect on survival.

The reason someone can "make" huge sums of money is because corporations do not pay the workers the full amount the worker brings into the company. Salary is a fraction of their dollar worth. The rest of what the employee brings in goes to administration. The wealthy executives and people who have accumulated wealth have done so because they have taken some of the financial worth of their masses of employees. They've already taken money from the bottom, and higher levels of taxes at the top acknowledges that fact and re-balances the system.