Election 2012

Mitt Romney Gets Weasely About His Taxes

Romney thinks you're an idiot:

"One of the reasons why we have a lower tax rate on capital gains is because capital gains are also being taxed at the corporate level. So as businesses earn profits, that’s taxed at 35 percent, then as they distribute those profits as dividends, that’s taxed at 15 percent more. So, all total, the tax rate is really closer to 45 or 50 percent."

No it's not. If he pays an effective tax rate of 15 percent, and that includes flow-through from his corporation (I think Bain is an S-corp), then he's only paying 15 percent.

There's not some hidden tax of 35 percent he's paying somewhere in there. It doesn't exist.

You know, it's this kind of corporate numbers trickery that caused the recession.