Wednesday, January 18, 2012
Romney’s 15% Mishap
Romney has admitted that his effective personal tax rates have been around 15%. Romney is worth about $250 million. He described one of his sources of income, speaking fees, as insignificant. (It turns out to be around $350,000.) I do not think people care that Romney is rich. I do think they care that an incredibly wealthy man pays taxes at a rate that is half of what they pay. I also believe that the mantra that taxes on the rich are "too high", while we have $ trillion deficits, is going to be a hard sell for the Republicans.
This is not an argument about logic or what is the right amount of taxation and spending. Politics is about emotions and appearance. Obama will have a field day with this one. If the Republicans think it will be easy to defeat Obama with Romney as their guidon bearer, they may be in for a disappointment.