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Politics : Formerly About Advanced Micro Devices
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To: J_F_Shepard who wrote (776417)3/24/2014 6:16:44 PM
From: Bill4 Recommendations

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dave rose
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RE: Mitt Romney paid at a 12% rate by hiding money in offshore banks.

Actually, if he had hidden the money, he wouldn't have had to pay any tax at all on it. So that's an obviously false (and irrationally ignorant) accusation.

His 13% effective rate was because he had mostly capital gains and muni bond income which are taxed at a lower rate than ordinary income. The money had already been taxed as ordinary income earlier when he earned it. Of course, his current $3 million a year in federal taxes is much more than most people pay in a lifetime.
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