Outright distortion and lie at worst:
How Much the Rich Pay
Mitt Romney, the 1% and taxes.
http://online.wsj.com/article/SB10001424052970204555904577168683705018156.html?mod=googlenews_wsj
Shockingly, the WSJ as issued an article that distorts the truth! I find that so hard to believe!
OK, on the most basic element, the idea is that because corporations are paying taxes on their income (nominally around 35%) when capital gains are realized the income would be taxed again, hence the ultra low rate of 15%. However, that ignores two basic things: first and foremost, many _many_ large so-called ‘blue chip’ (what the hell does that mean, anyway) companies pay well under the 35% rate (indeed, some, like GE, actually pay zero or even get a net REFUND on their taxes from our great government, see Corporate taxes need a level playing field). The second thing that is totally ignored is that the price of the stock (upon which the capital gains are considered) has the taxes built-in to its price so it is a total wash and in the case of dividends, as I mention in my article linked above, they are actually getting HIGHER dividends because of the taxes (taxes being passed directly onto the end consumer, doanchano). So, beyond the total blatant 1% gimme that hedge fund managers and corporate raiders like Romney are taxed at the capital gains rate rather than the true income rate (the silly-assed ‘carried interest’ rule), the investors that actually risked real cash (as opposed to the afore mentioned corporate raiders that ‘earned’ their incomes by levering other people’s money, thus took not one iota of risk) should be expected to pay at least the same rate on their income as everyone else does. The concept of double taxation is a total arm waving smoke screen designed to put the sheeple in their place.
Taxes will be fair if/when people wealthier than I pay at least as much (as a percentage) as I do. Until that point, taxes are, in fact, regressive and any blather to the contrary by such institutions as the WSJ is disingenuous at best, outright, bald faced lies at worst (I lean toward the worst, if that couldn’t be inferred).
