Some super rich pay no taxes | Arkansas Blog

Friday, August 10, 2012

Some super rich pay no taxes

Posted By on Fri, Aug 10, 2012 at 2:31 PM

It's true. Fabulously wealthy people can come up with ways to avoid paying income taxes. If Mitt Romney was NOT one of those, he can readily prove it by releasing pages one and two of his 1040 for the last 10 years.

Check this in New York Times:

Of the 400 richest Americans measured by annual income — they reported an average $200 million each in 2009 — six of them paid NO FEDERAL INCOME TAX. Of the group, 116 paid an income tax rate of lower than 15 percent. That's undoubtedly because most of their income isn't earned in wages, but realized in dividends, interest and capital gains.

Romney's a piker in this group. He only made $21 million in 2010, but paid only a 13.9 percent tax rate.

I looked up my percentage the other day. It was around 23 percent. I didn't make $21 million.

Tags:

From the ArkTimes store

Favorite

Comments (25)

Showing 1-25 of 25

Add a comment

 
Subscribe to this thread:
Showing 1-25 of 25

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
  • Today in Trump: Obstruction of justice anyone?

    It's the New York Times with the news today. Fired FBI Director James Comey kept notes of his talks with Donald Trump. A memo he wrote in February after a meeting with Trump said the president asked him to shut down the investigation into Michael Flynn, his former national security adviser.
    • May 16, 2017
  • Civil War over in Fort Smith; lawyer strikes his Rebel mascot battle tent

    KSFM reports that Joey McCutchen, the lawyer who's been trying to restart the Civil War in Fort Smith over the School Board's decision to drop the Rebel mascot and related trappingsfor Southside High School, is dropping his School Board takeover campaign.
    • May 27, 2016

Most Shared

Most Viewed

Most Recent Comments

Blogroll

 

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