Originally Posted by DanaT
Where you are wrong.
Romney paid mostly CAPITAL GAINS tax; not income tax. All capital gains are taxed at 15%. If you have interest income from the bank that you declare, that is capital gains. If you sell stock, that is capital gains.
And I suspect that even if you are in the 25% bracket, you likely paid about 15% of you total income. The bracket is determined AFTER deduction. So take your BEFORE TAX and BEFORE DEDUCTION income and compare the amount of tax you paid to those numbers to get an accurate comparison to what percentage Mitt paid.
Im fully aware of what capital gains taxes are, I pay them on stocks I sell. Im also a 50 year old white male with a 50 year old white wife, with no children living at home, and no mortgage, so basically we have no deductions worth noting, so I do pay the 25% tax.