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Old 05-22-2015, 09:23 AM
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jms62 jms62 is offline
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Join Date: Mar 2007
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Quote:
Originally Posted by dellinger63 View Post
He paid an effective rate of 14.1% because the vast majority of income made is investment income on money he has already been taxed on. He also was able to take a significant deduction for money he donated to charity ($4 million) or 29% of total income. So when you add taxes paid and money donated, it comes to a combined effective rate of 43.2% or 18.29% more than you paid.

BTW a person with an effective tax rate of 25% on a yearly income of $50K w/o any deductions including the personal exemption would pay $12,500 and would have to file over 155 years or three lifetimes of taxes to equal what Romney paid in a single year.

Hope that makes everyone crying 'unfair' feel a little bit better going into this Memorial Day weekend.
You realize these people you have such a raging boner for have made their money by breaking down businesses and cutting jobs and shipping jobs out of the country. The money lost from our economy in the way of purchasing power is in the trillions. The ball is being kept in the air by artificially low interest rates. Not much the fed can do if we hit another bad patch. Keep rooting for the scum that put us in this position cause this is America and you can be one of them. The fact that you are not one of them after 50 years notwithstanding.
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