Krugman: We Still Need To See Those Returns

[ProSense]

We Still Need To See Those Returns

Aha. Romney concedes that the estimates people have been making about his taxes are basically right:

At an event in Florence, SC, Mitt Romney told reporters that his effective tax rate is probably close to 15% because most of his income comes from investments, reports Bloomberg’s Julie Davis.

And an immediate question is, do you agree that unearned income should be taxed at a rate so much lower than earned income?

Besides, he’s still fudging: how much of that is true investment income, and how much is carried interest, which is actually earned income that for reasons unclear manages to get taxed like investment income (making nonsense of the claim that investment income should face low taxes because it has already been taxed once)?

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http://krugman.blogs.nytimes.com/2012/01/17/we-still-need-to-see-those-returns/

[Skink]

1. The U.S. is basically a tax haven

Nice to see Newt jumping in here.

[FSogol]

2. Romney = tax cheat? Unwillinging to pay his fair share?

Typical repub.

[subterranean]

3. Maybe not a tax cheat; just someone who takes advantage

of all the loopholes and special tax breaks that are only available to the wealthiest.