26 September, 2012
Despite the ongoing attempt by the Obama campaign to portray Mitt Romney as some sort of space alien because he's rich (Jack Kennedy was far richer- but then, he was a Democrat, so that's OK), an interesting piece of information has come to light.
Does Romney really pay a lower tax rate than somebody making $50,000 a year?
It depends on how you figure it. It turns out that if you exclude deductions and exemptions, Romney's effective tax rate is higher than that of 97% of Americans!
Look, I'm very much in favor of closing tax loopholes. But if the Obama campaign is going to criticize Mitt Romney, the criticism ought to be accurate.
It seldom has been. Not, of course, that the media would notice...