Reply to Romney Paid 13.9% Tax Rate on $21.6 Million in Income.

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[quote=Anonymous][quote=jsteele]The "Buffet Rule" is the idea that billionaires should not pay a lower tax rate than their secretaries.  The "Romney Rule" apparently is that billionaires who pay a tax rate of 13.9% on $21.6 million in income should maintain Swiss and Cayman Island bank accounts and run for president on a platform that would lower taxes on people like himself while raising them on lower income earners.

Remember earlier discussions on DCUM when several posters assured us that the Buffet Rule was unnecessary because the wealthy actually do pay their fair share? Mitt Romney is a walking contradiction to that suggestion. An added bonus of Romney's tax release is that we have learned that this year he closed his Swiss and Cayman Island accounts because he is "running for President for Pete's sake".

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http://www.nytimes.com/2011/08/20/business/questioning-the-dogma-of-lower-taxes-on-capital-gains.html?pagewanted=all

Favorable low capital gains on primary residence only plus 1 second home would make sense to me.  Add to that a higher cap. [/quote]

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