Quote:
Originally Posted by Danzig
http://www.slate.com/blogs/the_slate..._returns_.html
note where it talks about what tax rate he'd have paid had he taken the full deduction on charitable donations, rather than what he claimed in order to remain around 13%.....and where it would put him in relation to the 47% that it won't be 'his job to worry about'.
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So, what would his rate been if he just "gave at the office" like Uncle Joe and let the Feds take care of the redistribution?
The guy gave millions to charity that lowered his Federal Tax bill. Should we do away with deductions for charitable contributions?
If Romney pays too little as an effective rate, the only real discussion on this topic should be how capital gains, dividends and interest should be taxed and what are the implication are of jacking those rates to a high level for those who invest the most.
Yes. Close corporate loopeholes, consider thoughtful tax reform, but the implications of somehow sticking it to those that are "rich enough" is not so simple... And even if you do, it's no budget balancing solution.