That Mitt Romney pays taxes at a 15 percent rate on his income showed clearly how those with income other than wages and salaries benefit from the Bush tax cuts. If it was salary, he’d pay a rate of 35 percent.
What a gift to someone who doesn’t need it. He presumes to feel for those, and be ready to work for those, who must work 40 or more hours a week to earn a living.
I write this as a fellow beneficiary of the break – in my case for dividend income, which saved me at least $4,000 on my 2010 return. It is insulting to those who work hard for a living to be taxed at a higher rate than those who don’t have to.
All income – wages, capital gains, dividends and Romney’s pet loophole “carried interest” from Bain Capital, for instance – should be taxed at the same rate. There may be arguments for lower rates for capital gains or dividends, for example, but the result we have is intolerably unfair to wage earners, and must end.
I challenge Romney to say now that, if elected, he will push for an equal tax rate on every kind of income.