Sunday, September 23, 2012

American Taxes-What's Fair?

Recently, Presidential candidate Mitt Romney announced that his tax rate last year was around 14%. This type of rate is relatively low, especially for someone who is earning 13.7 million in one year. Although Romney gave around 30% of his income to charities, many people are still very outraged at his low tax rates.


Democrats especially seem to be outraged at this low tax rate, while Republicans seem to avoid the topic. Do you think it is fair for Romney to have a lower tax rate than most Americans? In my opinion, it comes down to one's ideals, and which party they support. Republicans seem to favor giving the upper class tax breaks for trickle down economics, while democrats favor giving the middle class the tax breaks because they need it more. What seems more fair and why? Does it have anything to do with American ideals? To read more on this topic click here. 

1 comment:

  1. While I don't find it fair that Romney and other millionaires don't have to the same tax rates as others, I understand why it's possible. However, I think that something needs to be done about the loopholes that allow this. The rich people don't need those tax cuts. The people who are struggling need the cuts. It's very difficult for people to achieve the American Dream of moving up in society when they are unreasonably taxed.

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