So Mitt Romney only paid $3 million in federal taxes last year. Go ahead, say that without laughing: Romney “only” paid $3 million in federal taxes.
Egads! The horror! When so many people are paying so much more than Romney!
Really? Who all do you know paying $3 million or more a year in federal taxes?
Sure, many people pay a higher percentage of their income. If you want to have a debate about the relative merits or the fairness of a progressive income tax, let’s have that. But stop acting as if others are paying so much more than Romney because the percentage they pay is higher than the percentage Romney paid on this round of his money being taxed. It’s $3 million. All us middle-class wage earners paying as much as 35 percent, we don’t even begin to earn enough to match what Romney paid in taxes, let alone pay more in taxes.
Someone earning $50,000 a year and paying 35 percent in federal incomes tax is paying $17,500 each year — provided he doesn’t itemize, has no deductions and otherwise doesn’t really exist. But if he did, Mitt Romney was paying a federal tax equivalent to 171 of that Average Joe — you know, the guy paying so much more than Romney.
The facts are these:
• About half of U.S. citizens don’t pay any federal taxes. This is one reason a national usage or sales tax bothers many on the left — it would be a tax increase for many poorer people.
• The wealthiest among us — you know, those President Barack Obama says we don’t begrudge their wealth, only want them to pay their “fair share” — pay a big part of the tax bill. One has to assume they don’t use nearly as much of government as they pay for. Yet they’re not paying their fair share? Those on the lower end of the wage scale using more government services, somehow they’re paying for more than they use?
By the time Romney’s investments are taxed, he or the corporation from which he derived them already pay steeper tax rates back when they were profits or income. Romney is paying an additional 14 percent in taxes 3 additional as in being taxed a second time — because his investments increased in worth. Somehow government is entitled to part of everything you make or earn, and it should always be a third or more, in this view.
If someone wants to lay out the case for a person losing 35 percent of all forms on income, make that case. But no one seems willing to do that, perhaps because it’s a hard sell. So much easier to play with numbers — Mitt ONLY pays 14 percent! — than to deal with all the facts.
Romney’s aloofness on the issue certainly hasn’t helped his cause. For example, he said he didn’t earn much in taxable income from speaker’s fees last year — only about $370,000. OK, so he’s rich and he’s tone deaf to what average people think and clueless to what they do and go through. But he’s paying more than his share of federal taxes as do all wealthy people.
If you want to argue for a consistently progressive tax code that provides to government for all types of income, make that case. If you think government is entitled to a third of all income, no matter what, present the logic. But if you’re merely wanting to punish the rich for having so much more, be honest about that, too.