reply to post by IsThisThingBugged
The statement that 50% of people do not contribute to our federal tax system is not entirely accurate.
Most individuals, directly or indirectly, pay two types of taxes to the federal government: payroll taxes and income taxes. The bottom 50% or so of
workers do not pay income taxes. However, they pay about 15% of their income, directly and indirectly, in payroll taxes.
Wealthy people, particular those that get paid in stock options or have hedge funds, pay little or no payroll taxes. They pay the 15% capital gains
rate (and some even less because they shelter their income). They make little or no ordinary income so they pay nowhere near the 30+% Republicans
always seem to be complaining about.
In short, anybody who is wealthy that is complaining about high taxes needs to fire their accountant and sue them for negligence. I have clients that
are in the top 1% and they pay almost nothing in taxes. One fellow I know owned a couple of multi-million dollar beach houses. He literally
withholds only $500 from his "wages" every year and gets a $2000 refund check. (Although his position is certainly aggressive, it is arguably legal
and he can and will get away with it.)
My hunch is Romney may not want his tax records revealed because it will not show that he is paying near 15% as capital gains, but because it may show
he is paying near zero and even getting money back.