Posted on 09/18/2012 6:42:04 AM PDT by SeekAndFind
Mitt Romney's latest campaign setback is a leaked video that shows him slagging the 47 percent of the population who, he says, will always vote for Barack Obama, because they want everything for free from the government.
The 47 percent number presumably refers to the percent of the population who don't pay Federal Income Taxes, which of course is just one kind of tax.
From the Tax Policy Center, these three pie charts show who those people are.
Kevin Roose at NYMag puts the data into words:
But back to the 47 percent. There are two primary ways to pay no (or negative) federal income taxes. The first is to be poor, and the second is to be elderly. In 2011, of the 18.1 percent of American households who paid no federal tax (meaning, no federal income or payroll tax), more than half were elderly, and most of the other half were non-elderly people making below $20,000 a year. The other sliver, roughly one in 20 non-payers, were people who made more than $20,000 in household income.
The reason being poor helps is because, with a combination of tax credits (like the earned income credit and the child credit) and deductions, many people earning under $20,000 a year can zero out their overall rate. The primary reason being elderly helps is that Social Security benefits aren't taxed as income, so if all (or most) of your income comes from your monthly Social Security check, your taxable income is marginal or non-existent.
So there you have it. The poor and elderly.
(Excerpt) Read more at businessinsider.com ...
That sound more like it.
You know, when I heard in October 1999 that he had a $70 million dollar war chest to run, it made me quite angry. I wanted the nomination to be won on ideas, not big bucks. Boy was that an unpopular view back then.
>> Sort of like his Libya gaffe
Well, if it wasn’t for his gaffes, the MSM would have but no choice to report on the burning embassies, murders, and terrorism. Good thing for those gaffes.
” You know, when I heard in October 1999 that he had a $70 million dollar war chest to run, it made me quite angry. I wanted the nomination to be won on ideas, not big bucks. Boy was that an unpopular view back then.”
I shared this view back then, and today as well.
There was a female posse from Texas that were gunning to protect their man. Don’t enter some talk of reality into it. His shirts were so nice. His hair was just so. That smile... oh that smile.
Gack!
LOL!
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