Saturday, September 22, 2012

Mitt Feels A Little Pain

Romney’s taxes: The GOP candidate’s preposterous explanation for overpaying them. - Slate Magazine

...Romney’s charitable contribution to the Treasury concedes this unfairness. The real reason Romney is overpaying is that it simply feels wrong to most people, if not also to him, for someone who earned $13.7 million to be paying less than 13 percent of his income in taxes when working people face a payroll tax of 15.3 percent on their first dollar of income (temporarily reduced to 13.3 percent). By yielding to political criticism and moral pressure about how little he pays, Romney implicitly accepts that under a fairer tax system, people like him would be required to pay more. 

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