MITT’S TAX RETURN:
Page 1 - Total Income: $21,661,344
Pages 2-5 redacted
Page 6 – Total tax: $ 3, 009, 766 (slightly under 14%)
NEWT’S TAX RETURN:
Page 1 – Total Income: $ 3,162,424
Page 2 - Total Tax: $ 994,708 (slightly under 31.5%)
As an aside - Do these numbers seem 'fair'? FAIR IS SUBJECTIVE! Who gets to say what is fair and what isn't?
My other blogs:
While considering that Mitt is taxed at a 15% rate on investment income, keep in mind that the entities who "paid" him were also taxed at corporate rates (approximately 30% after deductions) first. This is not an endorsement of Mitt, but rather another perspective on what tax the gov't gets to collect through this whole process. As Firebird suggests, what is "fair" is subjective.
ReplyDeleteand it's the hidden taxes that are killing the economy - we should tax the END USER and scratch the VAT along the way to the market
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