These days when I log on to my Facebook account I see nothing but political advertisements along the right. Some are good, some are bad, some are horribly targeted, and some just attempt to prey on the uninformed masses that occupy Facebook.
This is an example of the latter:
Is Mitt Romeny worth around $250 million? Yeah, if not more. Did he likely pay around 14% in capital gains tax next year? Considering his income is derived from investment, which by the way is the engine that keeps our economy going, yeah, that is likely true too. Did he not pay his fair share? No, and this advertisement says nothing that could even indicate otherwise.
The simple truth is that capital gains tax rates have been where they are for over a decade at this point. They are not the same as income taxes, and there is a reason for that. The federal government sets that rate lower in order to encourage investment, without which our employment situation in this country would be far worse than it is today. Whatever investments Romney profited from, 14% is exactly his “fair share,” and if you ask me, that feels a bit too high in a time when our nation needs more investment.
Finally, we in the United States of America have no direct tax on wealth, although I am sure there are some liberals who would not mind instating one as soon as possible. We are only taxed on what we produce, and to be honest, Romney has been running for President since 2007, he has not produced much lately at all.
This ad does nothing but add to the class warfare battle that the democrats continue to push, and I expect to see plenty more like it, somehow trying to equate previously created wealth with current day tax payments, a notion that makes zero sense. People in general do not understand the tax system, or the economy for that matter, and these occupy-loving crazies are all too aware of that fact. Don’t be fooled, but do make sure you click them…each click costs those liberals more.