Mitt Romney claims that his tax rate is fair, but his rate of taxation was lower on $20m in income than the rate of someone earning $50,000 per year. Why does he believe that he deserves to take so much more of his income home than someone in the middle class?
He earns 400 times more than the individual earning $50k/year. Does he really believe that his contribution to society is worth 400 times what that individuals is worth? Does he work 400 times harder, or 400 times longer? Is he 400 times more intelligent? Perhaps he creates 400 times more jobs. But does he? His company, Bain capital specialized in stripping companies of their assets and firing hundreds or thousands of workers.
He claims that he is currently unemployed. By what measure, then can he claim that he has a right to keep a greater proportion of his income than people that actually work for a living? He is wiling away his time doing nothing of value for society while raking in large hordes of cash. People that work hard all day long, take few vacations and can barely pay the rent have to forgo a larger portion of their income than he does.
Just look at his expenses in comparison. If the middle class worker were paying a third of his income in housing, or about $1400/month, Romney would be paying about $550k/month in housing expenses, enough to accommodate almost 400 families. Is what Romney does so much more important, of such vital value to the country that he deserves this much home? Does his utility bill come to $100k per month, and if it did, should he be taking that much energy for a single family? How much is he adding to our greenhouse problem? Are his transport costs 400 times those of the average worker? Perhaps, if he flies everywhere on a corporate jet, using airports built with public funds.
Romney claims that people should invest their money, start businesses, put people to work, which would encourage economic growth. People don’t have money to invest – their savings were devastated by two stock market crashes and a property debacle left over from George Bush that devastated their savings. What they have is credit card debt, property debt and increasing difficulty paying for basic expenses. Investing is the last thing on their minds.
As for starting businesses, not everyone is an entrepreneur, nor should they be. There are millions of people that do worthwhile jobs that don’t involve running corporations that destroy jobs. They are teachers and police officers, scientists and foundry men who do not have the expertise, nor the desire to become businessmen. Romney believes that people who are not businessmen are of little value to society. He forgets that they are society, they make up the bulk of society. Without them there are no consumers, and citizens, husbands, wives and friends. Without them there are no jobs, no society.
To say that his taxes are low because they are already taxed at the corporate level is disingenuous. Every form of income is taxed somewhere before it reaches the employee, and after. Everything you buy is taxed somehow as income at some level. The money is no different as capital gain than it is as employment income. Income is income and should be taxed as such.
Romney has refused to release his tax returns for more than two years, something that is a tradition for presidential candidates. He has an obligation to the voters to demonstrate his honesty and duty to the community he wants to represent. That he acts like an offended queen shows his ineligibility for public office. We do not need another Bush-like regime that shrouds whatever it does in secrecy.
Subscribe to our RSS feed!