Friday, September 28, 2012
Public Doesn't Like Willard's Tax Percentage
top chart shows Willard's tax rate compared to other presidents. Only one president has had a smaller tax rate than Willard -- President Nixon (certainly not remembered as one of the most honest presidents). All of the other presidents have paid a significantly higher tax rate than Willard.
In fact, Willard could have paid an even lower rate for 2011. His rate was about 14% (lower than quite a few middle class taxpayers), but if he had declared all of his "charitable" contributions that rate could have dropped to about 9%. Willard knew a 9% rate would infuriate most voters so he didn't claim all of those deductions (but will probably claim them on returns for future years).
And the people are not happy that Willard, who makes many millions of dollars a year (for doing no work), pays a smaller percentage of his income than a middle class taxpayer (who had to work hard for every penny earned). A recent YouGov Poll (illustrated in the bottom chart) shows that 50% of the public doesn't think Willard pays his fair share of taxes. And you can bet that if they already think he pays too little, they certainly aren't going to be happy with his proposed massive new tax cut for rich people like him.
Of course, this again brings up the question of why Willard won't release more of his tax returns (like President Obama and Willard's own father, both of which released 12 years worth of returns). Are there a bunch of years where he paid a percentage lower than 9% -- maybe even nothing at all? WHAT IS HE TRYING TO HIDE?