This shit right here is OBNOXIOUS.
This is how much money I would save if my tax rate were the same as Mitt Romney’s. Can I bitch for a second? I need to complain.
In real numbers, Mitt Romney pays SO much more in taxes than I do. If taxes were due once a month, his monthly payment would probably be more than a couple of years of my payments. But you know what? I don’t care!
Four thousand dollars is a LOT of money to a poor person like myself! Do you know how many
bottles of whiskey savings and retirement plans I could fund with that money? I need that money. But Mitt on the other hand? A few extra hundred thousand dollars a year is small change to somebody worth over $200 million. I can’t even wrap my head around that amount. What is that. That is imaginary.
But it’s not just Mitt and rich people. Corporations—who according to Mitt are people too—don’t pay what I pay either. And Mitt would have them pay even less.
America’s 10 Largest Corporations Paid 9 Percent Average Tax Rate Last Year
By Travis Waldron on Aug 7, 2012 at 2:30 pm
America’s 10 most profitable corporations paid an average corporate income tax rate of just 9 percent in 2011, according to a study from financial site NerdWallet reported by the Huffington Post. The 10 companies include Wall Street banks like Wells Fargo and JP Morgan Chase, oil companies like ExxonMobil and Chevron, and tech companies like Apple, IBM, and Microsoft.
The two companies with the lowest tax rates were both oil companies. ExxonMobil paid $1.5 billion in taxes on $73.3 billion in earnings, a tax rate of 2 percent. Chevron’s tax rate was just 4 percent. None of the companies paid anywhere near the 35 percent top corporate tax rate, providing more evidence to debunk claims that America’s corporate tax rate is stunting economic growth and job creation (Despite the high marginal rate, American corporations pay one of the lowest effective corporate tax rates in the world).
The study also calculated the overall amount the companies owed in both domestic and foreign taxes. This includes deferred taxes that will, theoretically, be paid in the future, once the companies bring foreign profits back to the United States. Apple, for instance, avoided $2.4 billion in American taxes last year by utilizing offshore tax havens.
If Republicans have their way, however, those deferred taxes may never be paid. Switching to a territorial tax system, a policy leading Republicans have considered, would allow corporations to repatriate foreign profits back to the United States nearly free of taxation, costing the country billions of dollars and thousands of jobs.
Chalk up another lie for the Republicans. Our corporate tax rate is stunting economic growth. Oh but except corporations aren’t paying our corporate tax rate. Don’t forget about that whole corporate tax holiday I lost my shit over last year.
These people are incapable of doing the right thing. Mitt is avoiding taxes and shipping money offshore and probably not even paying taxes on his money here. His cohorts are yelling at liberals telling us that corporations pay way too much money in taxes, while they’ve already found ways to pay almost no taxes whatsoever. All the while, I’m chillin over here watching a quarter of my paycheck disappear into thin air. And then, to add insult to injury, if I do happen to get a little extra—a bonus, some paid-out vacation, anything that would give me a fat check once in awhile—my tax rate jumps up to 38% or some ridiculousness. Because I get a paycheck and Mitt draws his income from stocks and invisible money.
Yeah, that seems fair. Totally. I definitely want that guy to be my president.