Mitt Romney’s taxes, and why jealousy is bad public policy

4

August 24, 2012 by Julia

WOW, I just met the people who care about Romney’s tax rate!  Well, I didn’t just meet them, because I’ve worked with them for years, but I didn’t know people were actually falling for that narrative!  I knew from a previous conversation that these people were very pro-union (they won’t shop at Wal-Mart, and apparently their male relatives would “kill them” if they ever crossed a picket line), but I overheard a conversation today on the way to the printer that had me twitching. 

“Yeah, I’m a Democrat, so–”

“When I heard that the hurricane wasn’t going to cancel the GOP convention, I was like, oh damn!”

“And you know, Romney, he was bragging about only paying 15%!  I pay more than that!”

“And that guy, that Ryan, his second . . . ” (at this point I hurried back to my office to pretend to work  write this post, lest I start a war)

First of all, Mitt Romney’s income is from investments, not wages.  Investment income is taxed at a lower rate (currently 15%, but due to MATH, the integrated numbers vary) because (are you ready for this?) IT HAS ALREADY BEEN TAXED!  Seriously.  Triple taxation.  Awesome.  Also, some of it WAS taxed at a higher rate.

Second of all, a lower capital gains/investment income tax helps the economy.  Because, MATH.  Gosh, I see why Paul Ryan terrifies the crap out of the Dems–he shows up having done research and crunched the numbers, able to prove that raising ALL OF THE TAXES is kind of, you know, a terrible idea, and all they have in their defensive arsenal is Ann Romney’s dressage horse and Todd Akin’s head on a uterus.

Third of all, Romney pulled in $21.7 million in 2010, just from making smart investments and paying the right people to make smart investments for him.  Um, we should maybe be all like, “Hey, I wish that dude made my investments for me!” and give him some credit, not jealously complain because we aren’t as good at making investments.  Seriously Mitt Romney, I will let you invest my money for me, because you are obviously good at it.  Please drop me an e-mail soon, thanks!

FOURTH of all (oh, there’s more), Romney paid $3 million in federal taxes and gave $2.98 million to charity in 2010, and frequently works for free (good news, since he will now be handling all of my investments!).  Even noted liberal shill Politifact used one of its few monthly attempts at pretending to be non-partisan to admit that the top 25% of taxpayers pay around 86% of all federal income taxes and the top 1% pay around 59%.  So . . . I feel like it’s kind of, I don’t know, patently unfair to imply that Romney is some kind of greedy asshole.  He personally gives a bunch of money to charity and works in public and community service for free, and with his fellow highest earners in the country, is responsible for a large portion of our federal income tax proceeds.

Fifth of all, there is nothing morally wrong or illegal with using all so-called loopholes or other ways to lower tax liability.  H&R Block runs ads every winter encouraging you to do so by using its services, even.  Is H&F Block encouraging immoral behavior?  Absolutely not, because EVERYONE uses every tool at his or her disposal to lower his or her tax burden.  So Mitt Romney followed the law?  And . . .?  (also, if you lambast anyone for using legal loopholes, you’d better not take a single deduction or credit yourself, hypocrite)*

Sixth, and finally–why in the HELL should I care what Mitt Romney does with his own money or how much he pays in taxes?  I don’t care!  It is not relevant to me!  You know what is?  What Barack Obama wants to do with my money.  That concerns me a great deal.

*I advocating closing loopholes by instituting the Fair Tax.

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4 thoughts on “Mitt Romney’s taxes, and why jealousy is bad public policy

  1. Ish says:

    The Democrat platform is simple: be more worried about that Mitt Romney does with his money, than you are about what Obama does with your money.

  2. Stuart the Viking says:

    So what tax rate does Obama pay? If it is more than the nominal 15% that pretty much everyone ends up paying then he’s an idiot when it comes to finances. Is that somebody that you want running the economy?

    s

    • Julia says:

      Apparently a bit over 20%, but he has income from wages and salary, so it’s apples to oranges in a way–but in the end, I’m not any more or less jealous of him than I am of Mitt Romney (i.e. not at all). Like you said, Obama’s economic policies convince me that he doesn’t know how to manage ANYONE’S money, which is the most important thing.

  3. Ish says:

    Who the hell cares? So.long as taxes are paid in full and on time, with allowances for all legal deductions, avoidances, and deadline extensions, I don’t give a fuck about any politicans’ taxes. Obama’s will show that he’s rich and has a good accountant; Romney’s will show that he is more rich and has better accountants. This is only an issue because the Committee to Re-Elect and the media (but I repeat myself) have little other avenue of attack… Did you ever want to see McCain’s taxes? Obama’s? Did any of us even know before now that releasing tax returns was a thing presidential candidates did?

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