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Wednesday, January 18, 2012

"Fifteen Percent! How Does He Manage To Pay Less Than The Middle Class?"

This is what the well-informed newsmaton on CNN just said in reference to Mitt Romney's Federal tax rate.

She said this because she does not understand the tax code, she only understands class warfare. She is all aflutter because Mitt Romney is a rich white guy who pays 15 % on investment income which is "less" than what normal downtrodden people like you and me pay on our income earned from labor. Somehow this is Mitt Romney's fault -- not the Federal tax code's fault. Incidentally, Congress writes the tax code, so the CNN newsmaton's beef is with the US Congress, not Mitt Romney -- unless of course her beef with Mitt is because he is a rich, white guy.

What a silly and vapid country we live in that a guy who has money is blasted for following the law and paying taxes how he is instructed to pay them.

For everyone whose bloomers are bunching up in all sorts of uncomfortable ways about Mitt Romney paying 15% (as prescribed by law) on his investment income, I have a solution for you.

Flat tax.

Even better, a flat tax on consumption, leaving labor untaxed.

You're welcome. 

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