There tax breaks left and right for the working stiff. I am working stiff in the 25% bracket. I pay somewhere around 5% in federal income taxes.
“Rich, Gingrich and crazy rich” CNN money article here:
http://money.cnn.com/pf/taxes/storysupplement/candidates-tax-returns/?iid=GM
Sorry for the cnn source but a I ran accross it participating in the SOTU poll.
It looks like Zero and Newt are the “Working rich” and Romney is the “Country-Club” Republicrat. A Liberal, a conservative, and a RINO.
How do you get around paying the 15% of you Income that is taken out for FICA? If you add that in, then your effective tax rate is 20%. That's a lot higher than Buffett's or Romney's.