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Tuesday, January 24, 2012

Operation Know Who You're Voting For: Mitt Romney

Here is an article detailing the release of Mr. Romney's tax records. Romney is the epitome of what Occupy Wall Street is against, someone who's made all of his money by scouring for failing companies, breaking them up, and then dumping them. There are legitimate tax loopholes for moves like this that put the financial burden for benefits to workers on the government and not the people who bought the company in distress. Alas his effective tax rate for 2010 was 13.4%. I paid more relative tax to my income last year! This guy purports to be a working class man who understands the trials of the middle class, yet he's making off of the demise of the working class. Romney's ability to pay such a low percentage of tax is also through the capital gains tax which maxes out at 15%.

Update: The New York Times has released a nice breakdown of Romney's tax forms here. In his 203 page joint tax return he reports $110,000 out of $20.9 million as employment income. He's actually in the top .006 percent and it's pretty clear that these people have the will and the means to find every tax loophole possible.

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