Guess What? 7,000 Millionaires Paid No Tax in 2011
Unless you’ve been hiding under a rock all morning, you probably know by now that Mitt Romney, during a reception for wealthy donors, said that 47 percent of Americans pay no income tax, are dependent on the government, and will vote for President Obama ”no matter what.” Romney said that these people will vote for Obama because they feel that they are entitled to government handouts by way of food, shelter, and health care.
What Romney doesn’t mention is that the people who don’t pay income tax do pay other taxes, such as payroll tax, and state and local taxes.
Romney also doesn’t mention that these people don’t pay income tax because they’re to poor to pay it. But what Romney also omits from his conversation is that 7,000 millionaires paid no tax in 2011:
….among families making more than $100,000, there were also half a million tax units — enough to replace the population of Tucson, Arizona — that also paid no income tax. Even more surprising, 7,000 millionaires also paid no individual income tax.
It’s not the poor people who are cheating the system. Most of them really are poor, and don’t make enough to owe any taxes. It’s the rich – who make more than enough but take advantage of loopholes to get around paying taxes – who are cheating the tax system.
But since Romney is a member of that elite class, he will never focus on them, and prefers instead to direct the ire to the poorest people in the country. Once Romney release his tax returns, then we can discuss tax fairness.
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