Tuesday, January 17, 2012

A taxing narrative

Quick! Stop the presses! Mitt Romney only pays a 15 percent federal tax rate! And who really cares about this breaking news besides the political media (and the Desperate Housewives in Mitt's country club)? NOBODY. Like Warren Buffett, Bill Gates and every other American gazillionaire, Romney earns income the old fashioned way: big capital gains from investments (which is taxed lower than money we serfs earn from regular wages). Romney, who has a net worth north of $200 million, does not need to work for a living. But here's the thing: Most Americans do not begrudge him his affluence. In fact, most folks would gladly swap places with him. In a heartbeat. So why the hubbub over Romney's taxes? Because this manufactured narrative is easier than covering the real issues. And I find that taxing (pun intended).

No comments:

Post a Comment