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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (108222)	1/26/2012 2:15:55 PM
From: brushwud	Read Replies (2) \| Respond to of 149317

If you read my post, you'd see I said my EFFECTIVE tax rate is 20%, which is an apples to apples comparison to Romney's effective rate of 14%. And btw, I used to be a CPA and know few things about taxes. I didn't know what you meant by "effective". That sounded like your rate if you made an additional $1000 -- in other words, a marginal rate. To me, Romney's effective rate depends on the kind of income, and he clearly gets ordinary income, dividends, and capital gains, and pays different rates on each. His average rate is yet another percentage, and to focus only on that obscures the various political-economic compromises which resulted in the different rates. Someone should do a study on what Romney's tax rate would've been if he were a Texan and paid no state income tax. His federal tax rate would be greater if he didn't deduct state income tax.