Tuesday, October 23, 2012

The 47 Percent Reality Versus Romney's Fantasy

What's especially jerky is that Romney admits he tries to pay as few taxes as possible and

http://www.theliberalcurmudgeon.com/2012/09/the-47-percent-reality-versus-romneys.html

Tuesday, September 18, 2012

Just who makes up the 47 percent of households that pay no federal income tax? Mitt Romney maligned them as refusing to "take personal responsibility and care for their lives." The Tax Policy Center has the breakdown and Brad Plumer provides analysis in the Washington Post. The reality does not correspond to Romney's fantasy of spoiled freeloaders:

— 28.3 percent of households pay no federal income tax, but they do pay the payroll taxes for Social Security and Medicare. That means they don’t need Mitt Romney to convince them to “take personal responsibility and care for their lives.” They already have jobs.

— 10.3 percent of households pay no federal income tax because they’re retired and elderly.

— That leaves 6.9 percent of households which are non-elderly and have incomes less than $20,000 per year and aren’t paying the payroll tax. These poorer households pay neither income taxes nor payroll taxes. Perhaps Romney thinks that they should all pay more in federal taxes

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