Saturday, April 13, 2013

Fair Share Equals 18.4%

Yesterday the White House released the First Families tax return for this year. Ironically the Obama's paid a lower tax than Mitt Romney's Secretary! Harkening back to the campaign, the Democrats were all in on the fact that Romney's effective tax rate was lower than his secretaries nominal rate. The rate difference per the Democrats was not fair. Since that time we saw Congress raise the top nominal rate on the highest income earners and increase the capital gains rate as well all in the cloak of "paying  your fair share".

The release of the Obama's tax return illustrates the hypocrisy of Liberals. I do applaud the Obama's for donating over $150,000 to charity. Perhaps some of the charity can rub off on the Biden's who could only muster $7900 to give to charity. Then again the $150,000 in charitable givings by the Obama's is a tax deduction. Why didn't the Obama's give that $150,000 to the government since they firmly believe that government knows best!

It is tiring to hear the rhetoric of "paying your fair share" and then to see wealthy people that tout this mantra pay less tax rate than Mitt Romney's secretary.