Media Endorsements of Presidential Candidates

[Tino]

Ummm... I'm glad someone thought Romney made any sense in the debate. The burning question I would have asked is: Why does my family, which makes significantly less than Gov. Romney, pay 30% of our income in taxes, while he only pays 14%? Sure, even at his lower percentage rate he pays more in actual dollars. However, Gov. Romney would not experience a cramp in his lifestyle if he payed double what he has in taxes. So why not tax those making greater than 250,000 a year more? Closing loopholes will help, but not all the way (trying to get Romney's tax rate equivalent to that of middle income Americans).

I believe the simple answer is that his is investment income, which is taxed at a lower rate than wage income, since the money used to fund the investments was already taxed at the wage income rate. If Romney's income was wage income it would be taxed at a vastly higher rate than yours, unless you happen to be in his wage income bracket.

As for not cramping his lifestyle by paying double, I'm sure you are correct. As a mormon he would already by tithing 10% of his gross income to the church, and his tax returns show that he donates a lot of money to charities.