Only in part. Romney derives most of his income from dividends and capital gains - just like Warren Buffet - which are taxed at a much lower rate than regular income - a weekly paycheck - which is the way it should be. One could argue that dividends and capital gains shouldn't be taxed at all since the original capital was already taxed.
Precisely. I am glad you wrote that.....now I don’t have to. :-)
3.6 million in interest? WOW Banks are only paying .25 percent.
“the original capital was already taxed”
True, and so was the profit, through the national VAT tax known as the corporate tax. Then it is taxed as “unearned income” (because surely minimum wage employees earn their keep whereas Romney loafed around all hus life/s). Then, of all the unmitigated gall, they tax it again when you die. Plus probably several times inbetween. As many times as they can get away with, and they can get away with it all.