Originally Posted by buggyone

Of course, Mitt loves his running mate's tax plan! He would pay even less taxes than the 13.9% he paid for 2010. The 13.9% rate for a multi-gazillionaire is not too shabby but a .82% is even better. No tax for capital gains or investments is a windfall for the super-rich like Romney. You do have to get money to run the government from somewhere, though. Yes, that is from RAISING taxes on the middle class (you and me) by 20%. It is now ROMNEYHOOD and RYANHOOD - robbing from the poor and middle-class to give to the super-rich.

Read all about it from this article in the Arkansas Times.

"In 2010 — the only year we have seen a full return from him — Romney would have paid an effective tax rate of around 0.82 percent under the Ryan plan, rather than the 13.9 percent he actually did. How would someone with more than $21 million in taxable income pay so little? Well, the vast majority of Romney's income came from capital gains, interest, and dividends. And Ryan wants to eliminate all taxes on capital gains, interest and dividends.

Romney, of course, criticized this idea when Newt Gingrich proposed it back in January by pointing out that zeroing out taxes on savings and investment would mean zeroing out his own taxes.

Almost. Romney did earn $593,996 in author and speaking fees in 2010 that would still be taxed under the Ryan plan. Just not much. Ryan would cut the top marginal tax rate from 35 to 25 percent and get rid of the Alternative Minimum Tax — saving Romney another $292,389 or so on his 2010 tax bill. Now, Romney would still owe self-employment taxes on his author and speaking fees, but that only amounts to $29,151. Add it all up, and Romney would have paid $177,650 out of a taxable income of $21,661,344, for a cool effective rate of 0.82 percent."