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Reply to "Romney Paid 13.9% Tax Rate on $21.6 Million in Income."
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[quote=Anonymous][quote=Anonymous]Help me out. Is the 13.9% a total tax rate including or accounting for(I know you can avoid medicare taxes and you cap out of ss) medicare, ss state taxes etc? If not what was his total taxes? Also, does the cap gains tax go up if the bush taxes cut are not renewed?[/quote] He doesn't pay medicare taxes on unearned income (that changes next year btw, courtesy of Obama). SS cap is $106000 so he doesn't pay taxes there either. He does pay state and property taxes but they're not relevant to this discussion. We're looking at apples-to-apples comparisons of federal income taxes.[/quote]
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