Below is a short letter I dashed off this morning to the Editor of the website Business Insider, after I read a juvenille and amatuerishly deceptive article about Mitt Romney's 2011 tax rates.
The author, Henry Blodget, a weak chinned, beady eyed dweeb, is vainly trying to rile up the lower income set, by asserting Mr. Romney pays an unfair tax rate.
Read my letter, see the link to Mr. Blodget's article as well as some follow up material on Mitt's taxes below and make your own assessments.
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Dear Mr. Blodget,
It was interesting reading your decidedly biased autopsy of Mitt Romney’s tax returns.
I see you chose to play to the cheap seats and take the inflammatory angle of telling your readers Mr. Romney earned a whopping $22,000,000, while paying a grossly unfair, out of touch, implicitly devious and one can only assume, paltry $3,000,000 for a 14% tax rate.
What would be refreshing however is an honest assessment of Mr. Romney’s tax returns by manipulative media characters such as yourself.
While your attention grabbing headline number of a 13% tax on Mr. Romney’s income is accurate on a gross income level, NO ONE in the US pays income taxes on their gross income. I know for a fact YOU don’t. So wouldn’t it be fair to assess Mr. Romney on what folks actually do, as opposed to what you deem they think they should do?
In a few simple minutes I was able to find out Mr. Romney’s tax rate on his TAXABLE income (you know, the amount required by law after LEGAL deductions from gross income) is in reality 17.5%.
That is HIGHER than the 15% Cap Gains rate you tried to show Mr. Romney paying less than. It’s also higher than the pathetically biased and pseudo-alarming slant you apply, as shown in an excerpt from your article below:
14% is a lot lower than the 35% tax bracket that most people assume those who make a lot of money pay.
It's also lower than the 15% capital gains and dividends tax rate.
It's also lower than the 15% income tax rate paid by Americans who make between $8,500 and $34,500 per year.
So, you can understand why some people think Mitt Romney pays a pretty low tax rate.
Since you have the complete information on Mr. Romney’s return, it would be interesting to see his Itemized Deductions, particularly his Charitable Donations. As I understand it, Mr. Romney donates approximately 10% of his income in the form a tithe. If he uses his top line number, he’s donating $2.2 million – on a taxable income basis it would be $1.7 million. Either number is generous and even more so when compared to the model thin contributions made by such heralded political figures like Joe Biden and Bill Clinton – who notoriously donate hundreds and their used underwear.
I am realistic enough to know bottom feeders such as you will not change and will continue to try and manipulate opinion by using half-truths, guile and deceit. I just wanted you to know, there are fair-minded and decent people out there who don’t buy into your swill and will expose you, even in small measure, whenever possible.
Doug NYC GOP
For the folks who would like to read all of Mr. Blodget’s trash, just clink the link below.
Read more: http://www.businessinsider.com/mitt-romney-income-and-tax-2012-7#ixzz1zZ4pewRE
Read more: http://www.businessinsider.com/mitt-romney-income-and-tax-2012-7#ixzz1zZ4pewRE
Meanwhile Whizbang has a nice recap of The Romney's Taxes here
UPDATE: It appears the readers at Business Insider are a lot smarter than the Editor - http://www.businessinsider.com/mitt-romney-income-and-tax-2012-7#comments
See the COMMENTS Section for Mr. Blodget's rebuttal and my follow up!!
See the COMMENTS Section for Mr. Blodget's rebuttal and my follow up!!
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