Sunday, April 15, 2012

Numbers game

So it's tax season again. This time we also have a presidential election to entertain us a little more, or drive us looney as some would say. Nobody would argue the Romney name isn't more valuable dollar-wise than the name Obama. One's a muti-millionaire, not too shabby Mitt! So why is Mitt Romey's tax rate so much lower if he's that wealthy? 20.5% vs 13.9%. Now both can easily pay their tax bill, but in a bad economy, how is it that the greater burden as a percentage of income is placed on lower income families and individuals than the 1%? Take away the political names and the argument still holds true. It's just easier for everyone to relate to names we all know and can place in our mind. Going to Morton's Steakhouse and getting a small steak is not sacrificing! Even though Romney's tax bill is in the millions, it's small potatoes compared to the union worker making cars in Detroit. We're not talking about redistribution of wealth, but why shouldn't the richest 1% pay a greater percentage of their income on tax day? They can afford it. I guess a clever accountant is just as profitable these days as a lawyer. The good news for president Obama and congressional democrats is that Romney's taxes are now out there and they clearly show the argument the nation already knew, fair's fair and right now the rich aren't required by law to pay their fair share. This isn't about Obama v Romney, that'll get decided soon enough. It's not even left against right, it's non-partisan. But again, these are two people we all know and can find universally accepted opinions on pro and con. In this current economic downturn greed is found running rampant in America. The rich won't pay nor should they pay more than required. Who'd pay more taxes anyway? We need to change the way we tax the rich. Warren Buffett and Bill Gates didn't get rich by being thoughtless and inconsiderate all their lives. They both know fair is fair and are willing to pay more if required. Progressives are sound economists despite what the right wants Americans to believe. So let's do it! Let's kick the nonsensical republican tax rhetoric out with their low approval ratings soon. Productivity and American ingenuity aren't ever going away. That's my two cents, about the last two cents I can find right now:)

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