Romney: $370,000 income 'not very much' | Arkansas Blog

Wednesday, January 18, 2012

Romney: $370,000 income 'not very much'

Posted By on Wed, Jan 18, 2012 at 7:23 AM

Mitt Romney's cluelessness was on full display yesterday. Reflexive defense of him by Republican stalwarts reflects a broader cluelessness in their ranks.

When a zillionaire — whose only productive toil currently is an occasional high-dollar speech — has an effective tax rate of 15 percent against much higher rates for assembly line toilers, something is bad wrong. But the Republicans believe in taxing work, not wealth. (By way of context: A married couple filing jointly jumps to a 25 percent tax rate for taxable income above $69,000 in wages.)

The best/worst of Romney's day was this:

He also characterized as “not very much” the $374,327 he reported earning in speaking fees last year, though that sum would, by itself, very nearly catapult most American families into the top 1 percent of the country’s earners.

In Arkansas, you need only earn $254,000 in family income to be among the top 1 percent. Not very much.

PS — NY Times explains how private equity vultures get a preferential tax break.

Tags: , , ,

From the ArkTimes store


Comments (40)

Showing 1-40 of 40

Add a comment

Subscribe to this thread:
Showing 1-40 of 40

Add a comment

More by Max Brantley

Readers also liked…

  • John Goodson and others add lawyers for hearing on forum shopping

    Lawyers facing federal court sanctions for forum shopping a class action insurance case have brought in new legal guns from out of state to fight potential sanctions.
    • May 26, 2016
  • Payday lenders on the march at legislature

    Payday lenders are working hard to get legislative cover for the reintroduction of their usurious loan business to Arkansas. Some are fighting back.
    • Mar 10, 2017
  • Lawyers plead for mercy in Fort Smith forum shopping case

    Twelve of the lawyers facing punishment by federal Judge P.K. Holmes in Fort Smith for moving a class action case against an insurance company out of his court to a state court where it was speedily settled have filed their argument against sanctions.
    • Jun 16, 2016

Most Shared

  • Industrial hemp pilot program coming soon to Arkansas

    One of the booths at this week's Ark-La-Tex Medical Cannabis Expo was hosted by the Arkansas Hemp Association, a trade group founded to promote and expand non-intoxicating industrial hemp as an agricultural crop in the state. AHA Vice President Jeremy Fisher said the first licenses to grow experimental plots of hemp in the state should be issued by the Arkansas State Plant Board next spring.
  • The prayers of Rapert

    Sen. Jason Rapert is keeping a close eye on the Alabama Senate race.

Most Viewed

Most Recent Comments



© 2017 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation