Americans Who Don’t Pay Taxes

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“Repeat After Me: I’m A Loser!”
By Arthur Piccolo

News Americas, NEW YORK, NY, Fri. Sept. 21, 2012: It seems Mitt Romney has one talent – as flawed as Barack Obama is Mitt Romney makes him look good compared to himself.

It is why this Presidential election which is long over anyway is even more over with each passing day as we get closer and closer to November. By this time next year it will be Mitt Who????

Mitt should begin preparing for the After Life. His life after this campaign maybe going back to becoming a corporate raider or better yet, train to ride his wife’s horse in the next Summer Olympics in Brazil. Maybe he will take that other Loser Paul Ryan with him. They can ride off together off a cliff!

Yes words fail me trying to describe exactly how pathetic both of them are. Then again with Clowns like these two heading the Republican Party, how bad must the Democrats be that almost half of Americans favor the Republicans.

Yes it is bad out there for the rest of us. When you look at the so called leadership of both parties. Maybe the rest of us, as perverse as it is, should consider ourselves blessed we still have a nation.

Anyway let’s stay focused. This week’s commentary is about taxes after the “highlight” (sic) of the week in the Presidential campaigns – Romney’s previously recorded diatribe against all of those Americans who don’t pay taxes. The 47% who are Free Loaders! Who exactly are the Free Loaders?

Those who don’t pay their fair share of taxes. Well, well, well, guess who heads that list> None other than Mitt Romney who refuses to release his tax returns because he pays so little tax on his fortune if he did he would lose this election by even more than he will. Still under pressure, he has admitted to paying an “effective tax rate” of 11%. Key the laughter. 11% Mitt? REALLY???

Eleven percent even though that is surely a lie but let’s accept Mitt Romney at his word (stop laughing and keep reading).

Since Romney is among the Super Wealthy, his federal tax rate should be near 40%. So instead of paying his fair share 40% he admits to paying 11%. About one quarter of what he should even be paying if he was being truthful. But that doesn’t bother Mitt or all his rich friends and supporters that are also Tax Dodgers Big Time.

NO, NO, NO! For Mitt the problem is not the 1% but it is the 47% of Americans who he says pay no income tax, but in fact do. They are the working poor who pay a higher tax rate than anyone else once you factor in the PAYROLL TAX. Why the Payroll Tax which is collected by the IRS on the income tax form is not considered income tax in the minds of some is beyond rational explanation …

… except it works well for Con Artists like Mitt Romney to claim poor people aren’t paying income tax. Another “problem” for Mitt Romney and his buddies at the $50,000 a person fund raiser where he attacked the so called 47% who are cheating Uncle Sam. The other problem is the payroll tax has no meaning for Romney and his buddies who get most of their income from capital gains not from working but from their many investments. Or from the biggest scam of all – from misleadingly named “carried interest” which is the huge commissions hedge funds managers earn (sic) from the money they invest for others. But it gets taxed at the much, much lower capital gains rate for no reason at all except their power when it is nothing but ordinary income just as any commission is.

It begs the larger question WHY are those – the wealthy who make their money getting dividends and profits from selling and buying stocks and bonds – paying far lower income tax rates than those who work for their income? There is none!

Romney’s so called 47 percent are paying the higher rate. The 47 percent often work jobs that aren’t that far above indentured servitude.

So Mitt Romney was in a room with “friends” paying $50,000 each and filled with Republican Fat Cats who use every trick in the tax book to avoid paying the income tax. They should to cheer Mitt Romney tearing into the working poor because in his words, they are the problem. No good free loaders who are getting so, so much while the Filthy Rich like Romney and his supporters must suffer.

WHY do I even bother to write about Mitt Romney as a ‘serious” candidate for President. He is beyond pathetic. Mitt, time to get on that horse and ride off into the sunset where you belong!

Until next week …. And the next installment of this comedy series called the Presidential election of 2012.

About The Writer: Arthur Piccolo is a professional writer and commentator and often writes about Latin America for New Americas.