Excerpt:
The top federal tax rate for investment income - qualified dividends and long-term capital gains - is 15 percent. By comparison, the top tax rate for wages is 35 percent, on taxable income above $388,350. Wages are also subject to Social Security and Medicare payroll taxes.
At 15 percent, Romney's federal income tax rate would still be higher than the tax rate paid by most Americans.
On average, households making between $50,000 and $75,000 will pay a federal income tax rate of 5.7 percent this year, according to projections by the Tax Policy Center a Washington think tank.
Read more at the Washington Examiner: http://washingtonexaminer.com/news/2012/01/romney-ill-release-tax-records-april/2103006#ixzz1jlOkEMem
Link:Romney says he pays about 15 percent in income tax | Washington Examiner
No comments:
Post a Comment