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.


Sign up for the Daily Update email

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

  • Welcome to the United States, children

    Recommended reading: The New York Times' report on the conditions for the hundreds of children being held in detention since they arrived at U.S. borders seeking asylum. There are many rules and they included no touching of other children, not even a hug for a little brother or sister.
    • Jul 15, 2018
  • Bills arrive for petition campaigns, including term limits

    Filings are expected next week on the campaigns to put a minimum wage increase and casino gambling expansion on the November ballot. One other campaign reported financial information last week
    • Jul 15, 2018
  • There'll always be an England

    The open line tips a hat to Jolly England's treatment of Donald Trump.
    • Jul 14, 2018
  • More »

Readers also liked…

  • Former Arkansas Attorney General Dustin McDaniel applauds Trump's EPA choice of climate change denier Scott Pruitt

    Dustin McDaniel gives the thumbs up to a man set to dismantle EPA regulations.
    • Dec 8, 2016
  • Women's March planned in Arkansas to mark Trump inauguration

    Speaking of Donald Trump and in answer to a reader's question: There will be a women's march in Arkansas on Jan. 21, the day after inauguration, as well as the national march planned in Washington.
    • Dec 30, 2016
  • Trump immigration protest at LR: Quick and fierce

    It was not even 24 hours ago that Sophia Said, director of the Interfaith Center; City Director Kathy Webb and others decided to organize a protest today of Donald Trump's executive order that has left people from Muslim countries languishing in airports or unable to come to the US at all — people with visas, green cards,a  post-doc graduate student en route to Harvard, Google employees abroad, families. I got the message today before noon; others didn't find out until it was going on. But however folks found out, they turned out in huge numbers, more than thousand men, women and children, on the grounds of the state Capitol to listen to speakers from all faiths and many countries.
    • Jan 29, 2017

Most Viewed

Most Recent Comments



© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation