Here we find Mitt talking about how he's really not just taxed at 13.9%, but rather closer to 40% or 50%:
ROMNEY: Well, actually, I released two years of taxes and I think the average is almost 15 percent. And then also, on top of that, I gave another more 15 percent to charity. When you add it together with all of the taxes and the charity, particularly in the last year, I think it reaches almost 40 percent that I gave back to the community. 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.
Bulls**t Mitt, for several reasons!
A) Charitable donations are not taxes.
In fact, you get a tax break for charitable donations.
Next:
B) That 35% corporate tax rate that you say should be applied to you?
First of all, did all your investment income derive solely from dividends? Don't make me laugh.
Now... Mitt... Regarding corporate taxes: That's not your revenues being taxed. It's the corporation's. That's why it's called "corporate taxes".
It's the corporation's job to provide goods and/or services efficiently, hopefully with revenues exceeding costs, paying taxes if they do, and distributing the net profits as they see fit.
Your job, on the other hand, is to pick winning corporations or funds, which hopefully increase in value and/or pay out profits in the form of dividends such that, as you sit on your ass doing nothing, your net worth grows. If you're that lucky (and if you're rich enough, you always are), you get to pay an exorbitantly low tax rate on your gains.
Using your logic, if you made zero dollars in dividends, i.e. zero income (according to your metric, since you'd have us believe that all of your income derives from dividends), you'd be paying 35% taxes. Clearly, that's just cukoo.
Dividends are paid to shareholders in return for the shareholder merely holding shares, i.e. investing capital. Kind of like earning interest in a bank account.
Mitt, when I earn interest on a savings account, should I consider the taxes paid by the bank to be paid by me?
I don't. Nobody else does either.
You should know these things, Mr. Executive Experience. I know you know these things.
Your contempt is showing again.
Bottom line:
Your tax rate is 13.9%, and that's final.
1:35 PM PT: Just wanted to quickly add one point that's been made elsewhere, and reiterate one that hasn't:
Mitt's 35% corporate tax burden theory (which is BS to begin with) relies on A) the corporation actually paying a 35% rate (which has been said before but I forgot to mention, and is highly unlikely) AND B) that ALL of his investment income derived from dividends (which is also highly unlikely!)