It's because Romney is taxed at the "Capital Gains" tax rate and NOT the Federal Income Tax rate (ordinary income tax rate).
http://en.wikipedia.org/wiki/... "Long term" capital gains are generally taxed at a preferential rate in comparison to ordinary income (26 U.S.C. §1(h)). The amount an investor is taxed depends on both his or her tax bracket, and the amount of time the investment was held before being sold.
***********
SCOTT PELLEY: You made on your investments personally about $20 million last year and you paid 14 percent in federal taxes. That’s the capital gains rate. Is that fair to the guy who makes $50,000 and paid a higher rate than you did?
PELLEY: So you think it is fair?
MITT ROMNEY: Yeah, I think it’s the right way to encourage economic growth.
VOICEOVER: Lower tax rates for him … than us. Is that the way to grow America?
***********
Here's the full transcript of that exchange with the edited out words in bold:
***********
PELLEY: Now, you made on your investments, personally, about twenty million dollars last year. And you paid fourteen percent in federal taxes. That's the capital gains rate. Is that fair to the guy who makes fifty thousa...
It's because Romney is taxed at the "Capital Gains" tax rate and NOT the Federal Income Tax rate (ordinary income tax rate).
http://en.wikipedia.org/wiki/... "Long term" capital gains are generally taxed at a preferential rate in comparison to ordinary income (26 U.S.C. §1(h)). The amount an investor is taxed depends on both his or her tax bracket, and the amount of time the investment was held before being sold.
***********
SCOTT PELLEY: You made on your investments personally about $20 million last year and you paid 14 percent in federal taxes. That’s the capital gains rate. Is that fair to the guy who makes $50,000 and paid a higher rate than you did?
PELLEY: So you think it is fair?
MITT ROMNEY: Yeah, I think it’s the right way to encourage economic growth.
VOICEOVER: Lower tax rates for him … than us. Is that the way to grow America?
***********
Here's the full transcript of that exchange with the edited out words in bold:
***********
PELLEY: Now, you made on your investments, personally, about twenty million dollars last year. And you paid fourteen percent in federal taxes. That's the capital gains rate. Is that fair to the guy who makes fifty thousand dollars and paid a higher rate than you did?
ROMNEY: It is a low rate. And one of the reasons why the capital gains tax rate is lower is because capital has already been taxed once at the corporate level, as high as thirty-five percent.
PELLEY: So you think it is fair?
ROMNEY: Yeah, I -- I think it's -- it's the right way to encourage economic growth, to get people to invest, to start businesses, to put people to work.
**********
Seems like a fair ad to me.
Mitt, why should we trust you? You have flip flopped on every issue, there are videas of you all over youtube proving that you support obarry's policies. The patriot act, TSA / Homeland security, 1021, NDAA, militarizing our police, (civilian military force), Bernanke and the federal reserve, TARP, NAFTA, Spy Drones, you have the same corrupt banks and corporations funding your campaign as obarry, ( either way, they win and American lose). Hopefully these truth will reach the people who are too lazy to learn the truth on their own or whose minds are trapped by the 2 party conspiracy against freedom.
I don't care about your economic promises. America is about individual freedoms and liberty.
Still legal, though. I bet John Kerry, Nancy Pelosi and the Kennedy clan all claimed every tax write-off and loophole they could claim. Again, legally. In fact, so did I and I'll bet you did too. If the tax code needs changed, they should change it. Not pick and choose those of us that are allowed to take advantage of it based on their party affiliation.
Mormons do help feed many people and help with food storage. They practice self reliance and responsibility for self. I don't know much more than that but, I strongly approve of these practices.
http://en.wikipedia.org/wiki/...
"Long term" capital gains are generally taxed at a preferential rate in comparison to ordinary income (26 U.S.C. §1(h)). The amount an investor is taxed depends on both his or her tax bracket, and the amount of time the investment was held before being sold.
These lower tax rates encourage investment.
Here is a great Obama ad and oh so true.
http://newsbusters.org/blogs/...
***********
SCOTT PELLEY: You made on your investments personally about $20 million last year and you paid 14 percent in federal taxes. That’s the capital gains rate. Is that fair to the guy who makes $50,000 and paid a higher rate than you did?
PELLEY: So you think it is fair?
MITT ROMNEY: Yeah, I think it’s the right way to encourage economic growth.
VOICEOVER: Lower tax rates for him … than us. Is that the way to grow America?
***********
Here's the full transcript of that exchange with the edited out words in bold:
***********
PELLEY: Now, you made on your investments, personally, about twenty million dollars last year. And you paid fourteen percent in federal taxes. That's the capital gains rate. Is that fair to the guy who makes fifty thousa...
http://en.wikipedia.org/wiki/...
"Long term" capital gains are generally taxed at a preferential rate in comparison to ordinary income (26 U.S.C. §1(h)). The amount an investor is taxed depends on both his or her tax bracket, and the amount of time the investment was held before being sold.
These lower tax rates encourage investment.
Here is a great Obama ad and oh so true.
http://newsbusters.org/blogs/...
***********
SCOTT PELLEY: You made on your investments personally about $20 million last year and you paid 14 percent in federal taxes. That’s the capital gains rate. Is that fair to the guy who makes $50,000 and paid a higher rate than you did?
PELLEY: So you think it is fair?
MITT ROMNEY: Yeah, I think it’s the right way to encourage economic growth.
VOICEOVER: Lower tax rates for him … than us. Is that the way to grow America?
***********
Here's the full transcript of that exchange with the edited out words in bold:
***********
PELLEY: Now, you made on your investments, personally, about twenty million dollars last year. And you paid fourteen percent in federal taxes. That's the capital gains rate. Is that fair to the guy who makes fifty thousand dollars and paid a higher rate than you did?
ROMNEY: It is a low rate. And one of the reasons why the capital gains tax rate is lower is because capital has already been taxed once at the corporate level, as high as thirty-five percent.
PELLEY: So you think it is fair?
ROMNEY: Yeah, I -- I think it's -- it's the right way to encourage economic growth, to get people to invest, to start businesses, to put people to work.
**********
Seems like a fair ad to me.
I don't care about your economic promises. America is about individual freedoms and liberty.
Anything to call attention away from the total failure Obama ..